User blog comment:Kaijulover1/New American Ultaman (2016)!? Starring Will Smith As Ultraman!!!!!????/@comment-5527544-20150127133149/@comment-5527544-20150127144631

If I remember correctly, Chaiyo Productions has the rights to distribute the Showa Ultra series outside of Japan, but the still have to pay royalties. They do not have the right to make a new entry in their series, although I may be wrong.

Also Tsuburya themselves seem interested in pushing Ultraman beyond Japan (I cannot remember were I heard this from, but it was a toku news site), so again even if that did happen, it would be Tsuburya doing it.