I had heard about the TV series, but I wasn't really expecting them to actually go through with it any farther than they had. Would really rather they just made Scream 5, seeing as Scream 4 was pretty enjoyable.
Honestly, I cannot see how Scream 5 could come into fruition either. The NOTION of Scream 5 has only been explored in a few movies at the moment which hasn't really provided any material/conventions/tropes that would be noteworthy of parodying.
Just to clarify, Scream 4 is a parody of Reboots (which had PLENTY of references by the time this movie was released) whereas Scream 5 would PROBABLY have to be a parody of sequels of Reboots (I mean…where else can they go with it?) However, there is little to actually parody since Reboot sequels doesn't really exist (yet) aside from The Hills Have Eyes 2, Texas Chainsaw Massacre 2, House on Haunted Hill 2, Grudge/Ring 2 (a stretch) and...I think that's about it so far.
Aaannd this would be the same exact reason why a Scream TV series wouldn't work. There isn't enough source material to parody. A horror television serie...um okay? How many of these do we ACTUALLY know? (which is why movies worked better, most folks actually remember horror movies rather than TV series...).
I mean (if I had to list mainstream ones)...we got Twilight Zone, Buffy, The Walking Dead....um...yeah, do these actually have any tropes or conventions as horror TV shows that warrants a Scream TV show? I am a 80s+ horror buff and I SHOULD know more, but damn I don't even know how this could work.