Various company folks at Games Workshop have commented vaguely about the future of the SBG, alluding that the game is not dead despite the lack of support its has received since The Battle of the Five Armies. Signs seemed to indicate that the game would continue to be supported by Specialist Product Design Studio initiative and rumors of a reprint of the SBG rulebooks and sourcebooks have been in the air thanks to a response from an GW employee on one of the miniatures forums. However, further details were still forthcoming.
Today, a post on 3++ is the new black reporting unconfirmed news from Throne of Skulls provides a possible future for the SBG: "Middle-Earth Strategy Battle Game," an updated, not replacement, version of the SBG incorporating both the Lord of the Rings and The Hobbit games into a single ruleset. Out of print models will be re-released as Forge World resin and the game will be supported until 2020.
While all of this remains speculation and rumor until I see an official Games Workshop release, I'm keeping my fingers crossed that there's some truth to these reports. With my attempts to build a small local SBG group underway, any support that might lure people back to the game (or introduce them to it) would be good news indeed!