From melodicrock.com:

NEW TOTO ALBUM FINALLY UNDERWAY:
It's been way too long, but a new Toto studio album is finally a reality, with principle members Steve Lukather and David Paich both commenting this week that writing sessions had commenced.
David Paich: "GOOD MORNING! What's everyone doing today? What's that you ask? Oh, you want to know what I'm doing? I'll just be here in my studio writing for the new Toto album!!"
Steve Lukather: "Also cant wait to get home and start writing with all the guys for the NEW Toto studio record! There are already some killers brewing... Yes its gonna happen! Hope everyone is having a great day." and "Also comin up with new ideas in my room for Toto. We are gonna dig DEEP for this one!"

I can reveal that the rough timeline is to write and record during 2014, mix late in the year for an early 2015 release.

Maybe this will work better?

NEW TOTO ALBUM FINALLY UNDERWAY:
It's been way too long, but a new Toto studio album is finally a reality, with principle members Steve Lukather and David Paich both commenting this week that writing sessions had commenced.
David Paich: "GOOD MORNING! What's everyone doing today? What's that you ask? Oh, you want to know what I'm doing? I'll just be here in my studio writing for the new Toto album!!"
Steve Lukather: "Also cant wait to get home and start writing with all the guys for the NEW Toto studio record! There are already some killers brewing... Yes its gonna happen! Hope everyone is having a great day." and "Also comin up with new ideas in my room for Toto. We are gonna dig DEEP for this one!"

I can reveal that the rough timeline is to write and record during 2014, mix late in the year for an early 2015 release.

From melodicrock.com:

TOTO RAMPS UP FOR BUSY 2014 WITH PLANNED STUDIO ALBUM, UPCOMING DVD/CD RELEASE, TOUR RUN:
Los Angeles --- Toto has revealed plans for 2014 that deliver what fans have been waiting years for. The band will record a new studio album, their first since Falling In Between (2006). Keyboardist and founding member David Paich shares, "The repertoire is coming together so naturally it is as though we never took a break from creating as Toto in the studio. For the fans who have been waiting patiently and continually showing the band support and love over the last decade or so, this one's for you. Collectively we can't wait to share these recordings with The World."
Late-Spring or Early-Summer, Toto 35th Anniversary: Live In Poland will be issued via Eagle Rock with configurations that include CD, DVD, Blu-ray and a deluxe package which will be revealed imminently. Filmed on June 25, 2013 in Lodz, Poland, the offering captures the band in the midst of a standing-room-only European tour. The two-hour plus performance features the band's hit stocked repertoire alongside other favorites.
This April, Toto returns to Japan for a seven show headlining arena tour that takes them through Nagoya, Osaka, Tokyo, Sendai and Sopporo. The complete itinerary follows below. In August and September, the band will hit the road as co-headliners with Michael McDonald, for their most comprehensive North American tour in years.

This weekend, guitarist Steve "Luke" Lukather will perform with Ringo Starr on the Grammy Awards. The following day on Monday the 27th, he will participate in The Night That Changed America: A Grammy Salute to the Beatles (Airing on CBS-TV February 9). Luke offers, "This is full circle for me. I started playing the guitar the day I saw The Beatles on Ed Sullivan, and now 50 years later I have been so graciously asked to be a part of The Grammy Awards with Ringo alongside playing and being a part of the 50th Anniversary show. I am beyond honored. I am also so excited about the future of Toto. So many things we have been trying to do have now all come true. A real USA tour, a new album of some killer new material, a new live DVD, and a World Tour to follow over the next two years. These are exciting times for myself and the band."
It has also been announced that long-time member drummer Simon Phillips will be departing the band to pursue his solo career and other interests. Luke shares, "He is still a dear friend and we wish him the very best and continued success," The band welcomes new addition Keith Carlock (Steely Dan, Sting, James Taylor, John Mayer). Carlock originally hails from Clinton, Mississippi, and has collaborated with Luke in the past in the jam band Toxic Monkey.

Few ensembles in the history of recorded music have individually or collectively had a larger imprint on pop culture than the members of Toto. As individuals, the band members' imprint can be heard on an astonishing 5000 albums that together amass a sales history of a HALF A BILLION albums. Amongst these recordings, NARAS applauded the performances with more than 200 Grammy nominations. Band members have been South Park characters, and Jimmy Fallon and Justin Timberlake recently did a comedy sketch around the band's hit "Africa." As a band, Toto sold 35 million albums, and today continue to be a worldwide arena draw staging standing room only events around the globe. They are pop culture, and are one of the few 70's bands that have endured the changing trends and styles, and 35 years in to a career enjoy a multi-generational fan base.

And not a word about Mr. Frederiksen (RIP)? I had hoped these mews would include something about a soon to be released deluxe-version of the best Toto-album ever, "Isolation".

I was listening to Toto's new live album this morning.  I'm only familiar with the hits, but there is a song called White Sister on it that is freakin' great.  I see that it's from Hydra.  I think I might pick up the latest Hydra remaster when it comes out.

Check out the Rock Candy Remasters, they are solid!  Hydra is my favorite Toto for what its worth...