It's made by 2K Games.
I'm kinda torn about this. I really liked aspects of the first game. I had a few gripes, too -- read my review:
http://www.gamespot.com/xbox360/action/bioshock/player_review.html?id=495570&tag=contributions;review5Bioshock has aged in my mind really well. While I still remember the problems with underpowered weapons, what really sticks out is the unique storytelling and atmosphere. But, I also think that this story has been told. It's how I felt when I heard that they were going to make another Matrix movie. I liked the first a lot, but the story was already told. It seemed that all another episode would do is complicate the near-perfect story that already exists.
I'd rather them have a spiritual Bioshock successor and make a totally new story, in a new world, with a similar concept for control scheme and storytelling devices. I am worried.