I don't think this is actually "news." This was supposed to be a made for tv project for Halloween 2003. From imdb:
Let's Do the Time Warp Again
1 October 2002 (WENN)
Cult movie musical The Rocky Horror Picture Show is set for a makeover with a new celebrity cast and new tunes. Impressario Lou Adler, who produced the legendary 1975 movie hit, starring Susan Sarandon and Tim Curry, is putting the finishing touches to a new cast list, and he hopes to have a new TV movie version of Rocky Horror ready for Halloween 2003. Priscilla, Queen Of The Desert moviemaker Stephan Elliott is on board to direct the remake, while Moulin Rouge composer Marius De Vries has been signed up to add original music. Adler admits the project has taken a long time to come together because he has been unable to find a replacement for Curry, who played outrageously camp Frank N Furter in the original. The producer says, "I just never found the right person but now I have. We're going to wait until March and then probably do it for next Halloween." No casting details have been released, although speculation in Hollywood suggests Marilyn Manson is a frontrunner for the Frank N Furter role.
Rocky Horror: The TV Show
1 July 2002 (StudioBriefing)
Fox Broadcasting is planning to produce a TV version of The Rocky Horror Picture Show to coincide with the 30th anniversary of the original stage production, the Hollywood Reporter reported today (Monday). Lou Adler, who exec produced the film version of the show three years later and has been set to produce the TV version as well, told the Reporter: "I think that [director] Stephan Elliott came up with a brilliant concept and settings and images that allows us to use the same music and the same dialogue and yet we're making a different movie." The show is being retitled The Rocky Horror Birthday Show.