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.