According to a story on TrekMovie.com (beware, minor Phase II spoilers...), James Cawley of Star Trek: New Voyages/Phase II and his production company has acquired the rights to do a web series based on "Buck Rogers". This iteration of the venerable hero is to be set in it's original mileu and concept: Buck Rogers is (again!) a WWI pilot who awakes from suspended animation in the 25th Century.
Although I'm not thrilled with the choice of lead actor, I think that this is an excellent project for the Phase II crew. In the hands of Jon Povill, David Gerrold and James Cawley, I think we'll see a really cool retro-new look at the classic hero.
I'm also very interested in the business model- as Cawley has procured a license and can actually MAKE MONEY on this particular enterprise (sorry... had to be done), I'm hoping that this makes them stacks o' cash. The better these productions do, the better the chances for those who want to battle the Hollywood system.