Fredm posted the following translation of the Gamestar article/blurb on Privateer 3. I've gotten several similar notes in the mail, so I'm guessing it's real... I'm excited.
The next game in the Privateer series will be a online multiplayer game. Currently the Texans are seeking experienced developers to complete the game. In addition to flying through space, players will have the ability to build their own bases. The game is scheduled for a late '99 release.