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For me, I think the following franchises will die out:

Medival: Only a PSP remake this generation, and no release on PS2, so dead certain to die IMO

Motorstorm: Sales are collapsing

Modnation Racers: I don't think sales gustify releasing a successor, but if they decide to make a second game, I don't expect it to set the world on fire

Pursuit Force: I don't think the series has the quality to continue

Siren: Only a PSN release this generation, which was great, but lack of releases makes me think its at the end of the road

Sython Filter: No PS3 release yet and only PSP titles so far, with the last release in 2007

SOCOM: needs a break, and a new developer

I'm not totally sure on the next few franchises:

Patapon and LocoRoco, too many releases and poor sales

Ratchet and Clank: I think with the continuingly diminishing sales, Sony may stop releases titles for it once Insomniac pulls out

Sly Cooper: Only a PS3 HD remake this generation, and a teaser at Sly 4, which could hit any platform at any time, I'm not totally sure

Jak And Daxter: Had the amazing Daxter earlier this generation and the decent Jak and Daxter: The Lost Frontier, so there could be a future for the series, I'll wait and see if Sony continues to develop this

Resistance: Very story focused, the universe is destroying humanity too quickly IMO and the story itself will end with the third, with only other titles left to fill in gaps in the series and add extras (but this worked brillantly for Resistance Retribution, and R:R, R1 and R2 all enjoyed good sales)

God Of War: Great series with amazing sales, but its mostly story driven, were can it go from here?