I've got a weird feeling that we might see Pirates 4Dull in this new area, it would suit the whole "family" image and it is something you would class as a resort attraction, it also seems to be a popular attraction at Thorpe which would suggest it being popular at Alton also.
Although not sure whether a large 4D cinema would fit within the area of Merrie England, it would not be a bad addition if I'm honest, sure the film is very tacky and cheap, but Thorpe seem to have done very well in theming Pirates 4D, so I cannot see why Alton can't, if they could just improve on the actual effects and add a few more, as there are so many opportunities within Pirates 4D where effects have not been used at Thorpe.
Could be completely wrong, but it does seem like a good possibility, maybe they could switch the contract from Thorpe to Alton? Pirates 4D takes up a large amount of space which Thorpe have little of and it might be useful for them to utilize it by getting rid of Pirates 4D.
Hopefully more information on this project is released soon as I'm rather looking forward to this re-theme. :)