First guys I'd like to say take all this info with a pinch of salt.
A source for a Nordic Entertainment site, Eskimopress, has claimed that Sony has acquired the rights for the Crash Bandicoot franchises back from Activision. The source claims that Naughty Dog themselves, and possibly with help from Santa Monica Studios, are working on a reboot of the franchise exclusive for Playstation 4.
Now why exactly should we give this rumor any credit? Because, this guy also leaked to Eskimopress that Uncharted 4 was in development and would be announced this year (they got the event wrong though, they said it would be announced at Spike's VGA's, but it's close enough as Spike did a large cover event for the PS4), and they clam that they where the first site to get the information.
[url=http://eskimopress.com/news/games/item/442-crash-bandicoot-definitely-coming-to-the-playstation-4]Crash Bandicoot Definitely Coming to the PlayStation 4[/url]
So what do you guys think? Personally I'm not ready to bite just yet, but it's certainly sounds plausible when you think that Activision's Crash games have all been failures. They where probably making the choice of either turning him into a Skylander alongside Spyro, or sell him off for some easy money, and I'm certainly glad that if anyone's gotten him it's Sony and Naughty Dog.