At least, a new CGI animated series. Pierre Sissman of Cyber Group Studios had this to say:
We have Monster in My Pocket, which is a reboot. We are co-producing it with Joe Morrison, the creator of Monster in My Pocket. Joe was at Mattel for a long time. We’re doing a massive CGI reboot, digitally connected. We’ll have a big trailer at MIPCOM.
Cyber Group Studios definitely seems to have an aesthetic that appeals to younger audiences, so I'm guessing it won't be too sophisticated in its storytelling. But I really hope it means a revival for the toy line! We've been given false hope far too many times over the years.