I have it from a pretty reliable source that Fox's X-Men franchise director Bryan Singer is currently developing an R-rated TV series based on Red Sonja. Now by saying R-rated that narrows down the places the series could run to something like HBO / Showtime or a streaming service like Netflix / Amazon.
Of course Luke Lieberman is involved seeing as he owns the property and will be executive producing along with Jason Taylor via Singer's production company Bad Hat Harry. Singer will be directing and producing it along with Stephen L'Heureux and his Solipsist Films. And the money is coming from TWC/Dimension.
Red Sonja was adapted for live-action with Brigette Nielson and Arnold Schwarzenegger back in 1985. The character made her comic debut in Conan the Barbarian #23 back in 1975 from writer Roy Thomas and artist Barry Windsor-Smith. She was loosely based on the Robert E. Howard character Red Sonya of Rogatino who first appeared in the Conan short story The Shadow of the Vulture in 1934. Currently the character has an on-going comic series published by Dynamite Entertainment and had a four-issue crossover with Conan last year.