"A person familiar with the matter" says that Netflix is developing a live-action Legend of Zelda series for Netflix, intended to be like Game of Thrones but for the family set. I really love family-friendly sword and sorcery stuff (I am also okay with sword and sorcery stuff that includes arbitrary nudity, à la Game of Thrones), and Zelda seems like a home-run idea - if it actually happens.
Neither Netflix nor Nintendo has commented on the WSJ report, which hedges its bets pretty clearly:
As it is still seeking a writer to work on the series, Netflix has a long road to travel before a “Legend of Zelda” series actually becomes a reality. It’s also possible that Netflix or Nintendo will kill the project before it gets off the ground.
Still, they feel secure enough in their source to report this much, and though the 1989 animated series didn't last past a season, this could be a great idea for Netflix. Basically, every network is looking for their Game of Thrones, and Zelda's one of the most beloved video game franchises of all time.