According to CVG Sony is acquiring the rights to Crash Bandicoot from Activision. Crash Bandicoot became the official mascot of the first Sony PlayStation console and was a popular franchise for many years until it was sold as part of a deal with Vivendi.
A thread on Reddit noted that Activision took down the official Crash Bandicoot website this week and removed all references to Crash Bandicoot from its web properties. Further evidence suggesting Sony intends to reboot the series on PlayStation is the Crash Bandicoot Easter Egg spotted in the recent PS4 launch trailer. Approached for comment, one Sony official told Twitter users to direct questions about the series to Activision.
Originally created by Naughty Dog for Sony, Crash Bandicoot was a hit series on the original PlayStation console. The last console-based Crash Bandicoot game was Activision's Crash: Mind Over Mutant, which launched on PS2, Xbox 360 and Wii in 2008.
We'll have more on this story as it develops, but I don't think anyone would object to a new game in the series if it was returned to the care of Naughty Dog...