If you ask me, KOTOR 3 may still be in need of a Developer. I don't think Obsidian will be the Developer either.
http://www.gamesindustry.biz/content_page....me=pub&aid=3976
The above article suggests that "The Collector" was the Developer for early content and brain storming for KOTOR 3, but they got fired. Thank god, because they suck. Sorry, but all their games suck. Just go play Indiana Jones or Revenge of the Sith.
So, I am figuring, they are either looking for a new developer because they had problems with The Collector (Why they got fired) or it was canned. I doubt it was canned. It is a good money maker for Lucas.
I hope they will give it back to Bioware or Obsidian. At least you can trust they will make a good game.