According to the March issue of PlayStation: The Official Magazine, a new Dead to Rights game is planned for release by 2010. The game, being developed by Volatile Games, will be entitled simply Dead to Rights, with no number or subtitle. It is a "reboot" of the series as opposed to a sequel or prequel.
Similar to its last-gen predecessor, the new Dead to Rights will be a third-person shooter, but with more emphasize on hand-to-hand combat than the previous three games in the series. Jack Slate returns as the game's hero and Shadow, Slate's trustworthy canine companion, will come back as well, although this time the player finds him as a stray -- not a police dog.
The only console mentioned by PlayStation: The Official Magazine is the PlayStation 3, but judging by the cross-console releases of the first Dead to Rights -- it came out on the PlayStation 2, Xbox, Nintendo GameCube, Microsoft Windows, and Game Boy Advance -- we might see it on more than just Sony's console.
I was never super into the first Dead to Rights games, but I thought it was a series with a lot of possibilities. Hopefully, the rebooted version will deliver...and even if it doesn't, it will at least feature a cute dog.