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Ok, they're going on an "extended hiatus" after March 2016 to pursue solo projects. In other words, "just reunion tours from here on out."

https://www.youtube.com/watch?v=mMiPtH5tXGI

Rumors began circulating Sunday when the UK's Sun tabloid published a rumor (also known as a Sun article) that One Direction, as the newspaper had claimed several times before, would be breaking up in March. The source who talked to the Sun said, "The guys have been together for five years, which is an incredible run for any boyband. They fully deserve to have at least a year to work on their own projects. There is absolutely no bad blood between them and they are all 100 per cent behind the decision." Certainly, this would seem like good news for Louis Tomlinson, in any case, as he will be taking care of a newborn infant by next March.  

Sources: E! Online