The previous rights holders, Red Eagle Entertainment, attempted to hang on to the property by airing a hastily thrown together pilot called Winter Dragon that aired in the wee hours of the morning on FXX. Whether this attempt failed to meet the legal requirements or a deal has been worked out. Only the parties involved know which at this point.
But here is what was posted to the Wheel of Time Google + account:
The following is a press statement that has been approved by the studio involved in contract negotiations:
Update: Wanted to share with you exciting news about The Wheel of Time. Legal issues have been resolved. The Wheel of Time will become a cutting edge TV series! I couldn’t be more pleased. Look for the official announcement coming soon from a major studio —Harriet
We will post more details as they become available…