The folks at CoHTitan are trying to keep City of Heroes alive. You can follow and support their continuing adventures here. An interesting item developed is the Sentinel+ Extractor, intended to copy character data for potential reconstruction, say in a third-party emulator.
If they can pull it off, I am happy for them. Having played my years in the City, I find myself unlikely to support the game financially, so I cannot dispute the NCSoft business decision. In meatspace, I am used to seeing people support companies, downtowns, mom & pop shops, etc. verbally but not financially. It is a different sort of inverse of Kickstarter. If the dollars can be found to make CoX a viable proposition, onwards!