Variety is reporting that C2 Pictures, the company that produced Terminator 3, will produce a pilot based on the franchise titled The Sarah Connor Chronicles.  The pilot will be made for Warner Bros. TV and will reportedly air on Fox.  The storyline will take place between Terminators 2 and 3, when Sarah Connor is on the run with her earth-saving son. 

There was a flurry of merchandise activity associated with the last film release (see 'T3 Merchandise Goes Upscale'); a series will undoubtedly revive the franchise.