After being hinted at by various sources (including Tony Hawk himself), GameInformer's latest issue confirms the rumors, Tony Hawk's Pro Skater 5 is in development, scheduled for release later this year.
Tony Hawk's Pro Skater 5 will feature co-op, multiplayer, as well as the ability to create your own skate parks (and share them with other players).
More articles about Tony Hawk's Pro Skater 5