The October issue of ToyNews reveals an advertisement promoting the return of Max Steel in 2013 from Mattel. The ad indicates that more information will be forthcoming at the Brand Licensing Europe convention, which is an event that takes place on October 16-18 for retailers overseas.
Max Steel was a line of 12" figures based on a animated series that ran from the year 2000-2002. The show was based on a 19-year-old college student named Josh McGrath who had super powers that transformed him into the powerful Max Steel.
Max Steel was a line more popular overseas than here in the US for Mattel. Since this announcement is being made at a licensing show in Europe, it is unclear if Mattel plans to bring this new Max Steel to the US or not. In fact right now we don't really know what Mattel plans to do with the brand. As we learn more though, we will be sure to pass the information on to you.