Besides the fact that Crytek's Crysis is considered to be the real sequel to the Far Cry, Ubisoft (the owner of the Far Cry brand) is working on its own sequel. This isn't something new and we wrote about this, but the the real news is that the game is almost ready, and the release date has been pushed from "sometime in 2008-2009" to Fall 2008.
The new sequel isn't made by the people responsible for the first part, since Crytek sold the rights to Ubisoft back in 2006, so the new sequel is done by Ubisoft's Montreal studio.
In the video blog, Ubisoft's producer, LP Pharand, has announced that the game will be simultaneously released for PC, Xbox360 and PS3 this Fall. He has also added that the team is working hard and that there will be no compromise made when the game's quality on either one of those platforms is in question.
The video blog contains a short trailer of the actual game. Enjoy it, here.