"[J Michael Straczynski] told me that he is in negotiations to re-acquire the rights to Babylon 5 and it looks pretty good. Now what that portends I am not entirely sure. It could be a new series or it could be a feature film, but he was quite animated about it. He seemed very excited and Warner Brothers is dealing with him in good faith. So you might see another Babylon 5 in the not too distant future."
Babylon 5 started with a pilot in 1993 and continued with the series in '94, which saw five seasons. It had six made for tv movies, including a short-lived spin-off, Crusade, which lasted for thirteen episodes.
For sometime there has been news and rumor of Babylon 5 returning, maybe this is it.
Source: Trek Movie