Several trade publications report a new Babylon 5 series in development. From Variety:
"Original series creator J. Michael Straczynski is onboard to write the project. He will also executive producer under his Studio JMS banner. Warner Bros. Television, which produced the original series, will produce the reboot.
The new iteration of the sci-fi series is described as a “from-the-ground-up reboot.” In the series, John Sheridan, an Earthforce officer with a mysterious background, is assigned to Babylon 5, a five-mile-long space station in neutral space, a port of call for travelers, smugglers, corporate explorers and alien diplomats at a time of uneasy peace and the constant threat of war. His arrival triggers a destiny beyond anything he could have imagined, as an exploratory Earth company accidentally triggers a conflict with a civilization a million years ahead of us, putting Sheridan and the rest of the B5 crew in the line of fire as the last, best hope for the survival of the human race.
'Babylon 5' Reboot in Development at The CW From Original Creator - Variety