It seems like Square Enix may be reviving a title many thought cancelled, with recent rumours over at VGLeaks
suggesting that the studio is still continuing development on Final Fantasy Versus XIII. While it currently isn't confirmed, the rumour suggests that the title has been changed to Final Fantasy XV, completely dropping the Versus subtext.
Among the name change, the rumour is also suggesting that Sony has now dropped in to help the struggling series, pushing the title to be exclusive to the next-gen PlayStation 4 console. Apparently Sony's studios "are helping SE with FF15 assets among other tasks."
It is currently unknown where exactly Final Fantasy Versus XII (or FFXV if the rumours are true) has been, with previous rumours last year suggesting that the title was possibly cancelled
by the studio in hopes of focusing on their other Final Fantasy titles. The last known existent of the game was nearly four years ago with a Japanese demo preview trailer
showing off the cinematic.
Square Enix did reveal at the PlayStation Meeting that a new, next-gen Final Fantasy title will be making its debut at E3 this year, so hopefully we'll hear more of whether the new title is indeed Versus XIII renamed or an entirely new project.