When Microsoft made an attempt to renew the Killer Instinct trademark, they were denied due to FOX's short-lived 2005 show with the same name. Microsoft and FOX have now come to an agreement on the trademark.
Microsoft and FOX have signed a Trademark Coexistence Agreement for Killer Instinct (via NeoGAF). This gives Microsoft the right to use the Killer Instinct trademark. While this does not confirm a new title or re-release, it opens the door just a tad bit.
