The Agency has been canceled, after reports yesterday of the of some of their developers, including SOE Seattle.
The Agency's fate is not surprising - after having played it at E3 2010, it left the impression of being a weak class-based multiplayer shooter, sort of a spy version of Counter-Strike mixed with some Team Fortress 2, by way of Shadowrun. There was very little true espionage or derring-do going on in the game.
SOE sent a statement to Eurogamer: "SOE is discontinuing production of The Agency so it can focus development resources on delivering two new MMOs based on its renowned PlanetSide and EverQuest properties, while also maintaining its current portfolio of online games."
PlanetSide Next is due late 2011, while Everquest II continues to chug along, though speculation has begun that SOE is starting work on Everquest III.