According to Orange Lounge Radio, Namco has announced to retailers that a new Katamari game will arrive on all three major consoles later this year. The Xbox 360 and PS3 versions of Beautiful Katamari will hit October 17th for $39.99, while Wii owners have to wait until November 14th and pay $29.99. Creator Keita Takahashi has stepped down from the Katamari series and is working on other projects, but it looks like Namco isn't ready to give up on the Prince.
The story hasn't been verified by Namco, but OLR insists their information is legit. They even have a forum post defending themselves and cite a reliable source who works in video game distribution. Xboxic corroborates the information with a Blockbuster release schedule showing Beautiful Katamari in mid-October.
You'll have to excuse our skepticism. With so many early April Fools shenanigans going on, it's hard to take anything at face value.