Good news and bad news.

Firstly, the good news.
Pre-production is apparently being done on Babylon 5 - The Memory Of Shadows, a (presumably theatrical) movie to be filmed in the UK (don't know why, all the props, costumes and sets that still exist should be in the US, but never mind).

The bad news is, that Warners don't think there's enough star power in the existing cast to carry the movie, and want to recast.

See http://www.sfcrusade.com/News/B5_News.html for more info.

Dude, did WB learn NOTHING from the Star Trek movies? YOU DON'T RE-CAST THE PERFECT CAST! Morons.

And it just seems to be a rehash of been there, done that storytelling. More left over Shadow technology which has been done. Even the plot description about the intelligence officer wanting info on a loved one dying in a mysterious ship explosion sounds like Gideons backstory. I want new B5, but I want Sheridan, Delenn, Ivanova, etc. I would accept rehashed plots if they at least had original characters.

Current reports from various sources say the movie is basically "dead". Mira Furlan was one who said this, so I would assume there is some truth to it.

I know it's not the best source, but there's no update on the IMDB about it.

JMS announced on his own website that this script is not a green light. I read it off of aintitcoolnews.com

This sucks! I'm sure it would have been a great movie!