Tecmo Koei and Nintendo are answering are answering the prayers of @patrickklepek. It's been announced that they're working together on a new Fatal Frame title for the Wii U, though there aren't any specific details about the game at this time. Additionally, the franchise is receiving several adaptations in other media, including a novel, a manga, and a live-action film.
Hopefully, this new Fatal Frame will see a full western release. It's unfortunate, but Fatal Frame IV was never released outside of Japan, and the Wii edition of Fatal Frame II was only released in Japan and PAL territories.