According Rely on Horror, Nintendo now has full ownership of Spirit Camera, spin-off a Fatal Frame, as well as co-ownership of Fatal Frame alongside Tecmo-Koei. There have been changes to the copyright status of the Fatal Frame,or Project Zero for Japanese, suggest Nintendo now owns a significant half of the horror series.
Bassically, this entitles Nintenodo publishing rights to any game in the franchise, which makes it unlikely we’ll see a new Fatal Frame game outside of Nintendo consoles.
Fatal Frame came alive in 2001 on the PS2 and Xbox and already has four core entires; the latest, Zero: Tsukihami no Kamen aka Fatal Frame 4, released exclusively on Wii and has not been localized outside Japan. The second game is being re-released under the title Project Zero 2: Wii Edition and will be releasing in Japan and Europe, no word for America.
Nintendo has been quite close with Tecmo-Koei lately, Letting Team Ninja do a Metroid Other M, Collaboration on Pokemon Conquest, helping them fix Ninja Gaiden 3 for Wii U. Who knows maybe Nintendo has a soft spot for them, or they could be interested in buying Tecmo-Koei.