A couple days ago we reported on a statement by Walter Koenig that J.M. Straczynski was in negotiations with Warner Brothers to buy the rights to Babylon 5. Which seemed like a great idea since Warner Brothers has just been sitting on the IP for over a decade doing nothing with it.

After news of Keonig’s revelation spread throughout the internets, Straczynski issued a clarification:

“I am not in negotiations with WB to develop more Babylon5.”

That should but Koenig’s words to rest, but it’s not a straight up denial. Koenig’s and Straczynski’s statements can both be true. If you’re negotiating with Warner Brothers to purchase the Babylon 5 copyright, it’s unlikely they’re the guys you want to contract with to develop more of the IP (intellectual property) you just bought from them.

That’s my (overly optimistic) take on what’s going on. Given that Babylon 5 has been out of circulation for so long, creator ownership is probably the last, best hope for a franchise long abandoned by the studio system.