CBS/Paramount will not do it due to cost.
I suggest ds9 fans using home computers do it instead.3 years ago a fan inspired project was launched in which all Jack Vance Novels were reprinted/re-mastered into Hardback using the internet as a coordination tool.This produced the Vance Integral Edition.
You can look up the Vance Integral Edition in google for inspiration.
Jack Vance is very good science fiction fantasy writer with well over 200 novels.He won the Hugo award.Some of you may be aware of this.
In the ds9 case the same methods can be used and with modern distributed computing the same principles can be used.
Some of you have already produced high quality cgi in relation to Star Trek as witnessed in youtube and google video.
These efforts can be focused into remastering DS9.
A small team of not more than 15 people can be assembled.Any more and it will not work as infighting and ego conspires to defeat the object of the exercise.
An Agenda can be agreed and then implemented episode by episode.
Perhaps CBS/Paramount can be involved in it too.
Just one small problem, it's not just the "special effects" that need to be re-done, it's practically everything. The live action segments may have been shot on film, but it was transferred to standard definition video tape for editing. This means that each episode needs to be re-edited from the original film as if it had just been done for the first time. And who knows what state the audio is in. I'd bet it's not really ready for immediate HD transfer either.
Just imagine how much it would cost to completely re-do all of the post production for 21 seasons (7x TNG,DS9,VOY) of tv. Crazy money and time. At best we'll get an up convertion and not a true HD transfer. But stranger things have happened.
Also, maybe we can get a sticky explaining exactly what it means and what would be intailed for remastering the Next Gen era shows. There always seems to be a lot of confusion whenever any of these threads are started.
But people spend vast amounts of time here writing when they could be working mastering a few seconds worth of footage due to distributed working.