That Timely Continuation of L.A. CONFIDENTIAL Might Be Happening As a TV Series...

Fresh off of L.A. Confidential's box office success in 1997, it's now reported by Deadline that James Elroy,  the author of the novel the film was based on, and New Regency have several networks vying for his script which is cited as a direct continuation of the '97 film that starred Kevin Spacey, Danny DeVito, Guy Pearce, and Russell Crowe. 

Ellroy wrote the project on spec as a TV drama series, which is being pitched to broadcast and cable networks as well as emerging distribution platforms, with multiple outlets interested. I hear theproject is eyeing a straight-to-series commitment. The sequel continues the themes and stories from L.A. Confidential, a murder mystery which examined the intersection of organized crime, police corruption, celebrity and tabloid journalism in 1950s Los Angeles. 

If this happens this will be the second series based off of James Elroy's work, with the other being an series bought by FX to be based on Ellroy’s 2012 novella "Shakedown" 

the project is set in the tabloid world and underbelly of Los Angeles circa the late 1950s and centers on the city’s top informant/operator/wire tapper/fixer, Fred Otash,who lives and works where the glamour and the grime intersect. A fictionalized version of legendary Hollywood vice cop-turned-private eye Otash, who exposed the sins of the rich and famous in the 1950s magazine Confidential, also appeared in Ellroy’s novels The Cold Six Thousand and Blood’s a Rover.

It appears acclaimed period-set dramas like FX's "The Americans", HBO's "Boardwalk Empire" and AMC's "Mad Men" are maybe paving the way for more like them, which is never a bad thing if you ask me.
What do you all think? Is it way too late for anyone to care about a sequel to L.A. Confidential? Will these series' take off or fall flat?