Today, Konami Digital Entertainment announced the official title of Silent Hill V. Now called Silent Hill: Homecoming, the game is under development at Double Helix (formerly The Collective). This sixth entry (yes, sixth - there was a PSP game in the series) in the Silent Hill franchise will release in Fall 2008 in Europe (a North American date was not announced yet, but it'll likely be similar) for PS3 and Xbox 360.

Silent Hill: Homecoming casts players in the role of Alex Shepherd, who returns home to Shepherd's Glen to find his brother missing. He must travel from Shepherd's Glen to Silent Hill attempting to find his brother while keeping a grip on his sanity. Along with improved graphics, Silent Hill: Homecoming will have an improved combat system and a soundtrack by series composer Akira Yamaoka.