Norman Bates got his own TV show. So did Damien. So why not Cthulhu?
According to Bleeding Cool, Legendary TV is currently in the middle of developing an anthology series based on the works of H. P. Lovecraft, including The Call of Cthulhu, The Shadow Over Innsmouth, and The Dunwich Horror. Produced by Lorenzo Di Bonaventura and Dan McDermott, the pilot was written by Matthew Francis Wilson. They will be talking to networks soon, so there's still every chance that this could fade away. But here's hoping!
While Lovecraft stories are pretty nearly unfilmable (unless you're Stuart Gordon), it might be interesting to see how the lower budget of a TV series works with the idea that these creatures are unimaginable and indescribable. I doubt they'll get close to Lovecraft's original intent, but there might be a way to actually satisfy fans of his literary work in a way that's never been done before.