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http://www.gamepodunk.com/_/industry-news/sony/playstation-all-stars-sold-over-1-million-units-globally-still-not-enough-to-continue-r2943

SCE Worldwide Studios president Shuhei Yoshida recently spoke of Playstation All-Stars Battle Royale and its ultimate fate on the most recent episode of IGN's Podcast Beyond. He explained that the game sold over one million units worldwide and that Sony "liked the idea" but that ultimately sales weren't high enough to continue creating DLC or a definite sequel.

Playstation All-Stars Battle Royale only had 4 DLC characters released in two separate installments, with the first being Kat and Emmett Graves(from Gravity Rushand Starhawk, respectively), and then Isaac Clarke and Zeus (from Dead Space and God of War) later on.

Though Sony doesn't seem to be ruling out another game in the series sometime later on, it does unfortunately appear as if the series is being put on the backburner right now, if not indefinitely. This development was hardly surprising, however, given that Sony had cut ties with developer Superbotback in the end of January. It looks like our dreams of seeing Crash Bandicoot as a playable character in the game won't happen after all.