One of the creators of THE 4400 (a show I’ve never seen) is on-board as the show runner, but other than that, not much else is known. It’s safe to say that none of the original cast will be back and that the show will probably remake the film to serve as a pilot, as is the protocol with these things. Deadline is also saying that the show is being shopped around to all the networks, so it airing on Fox isn’t actually a guarantee.
There really isn’t much more to say about this other than it seems a little too much too late. Audiences nowadays relate to MR AND MRS SMITH when they think about husband/wife spy antics and shows like UNDERCOVERS (created by JJ Abrams) are already on the air and doing the same thing that a TRUE LIES show would be doing. Basically, audiences have moved on and a TRUE LIES show might just be white noise.
Plus, does anyone really want to see this WITHOUT Arnold Schwarzenegger, Jaime Lee Curtis and Tom Arnold (he rocked in LIES, deal with it)? I know I don’t and I really don’t think audiences will either.