Yup that's right the developers of Bioshock are shutting their doors, and Ken Levine is starting up another smaller studio. So if there will be another Bioshock, it will be from one of 2K's studios.
Hopefully if Bioshock is continued, they have someone managing that IP properly. It will be interesting to see what Ken Levine and his smaller studio comes up with focusing on narrative-heavy digital games.
Their commentary on the 2nd DLC for Bioshock Infinite kinda foreshadowed that they hoped they were closing the story down and tying up all the loose ends to bring closure for the fans and shut down the series properly. I haven't played them yet, but any new Bioshock will have to have a hell of a story to top the the original and Infinite. Would you kindly pick up that shortwave radio?