Some have said that this game has been cancelled, then others say the latest news is that no, it's going to be made, but by a different company or something.

Initially, I had heard that AITD5 was to be released only for the X-box 360, but this one site is saying it's to be released for other platforms as well:

Atari today announced that Alone in the Dark will launch for Playstation3 simultaneously with versions for the Xbox 360 and Windows platform.

.... Developed by Eden Games, Alone in the Dark will propel the survival horror genre into the future with the new level of available technology that allows for unprecedented advances in gameplay and unmatched action-orientated gaming experiences in wide-open environments.

Alone in the Dark 5 Game News Reviews Description Screenshots ...