Nintendo CEO Satoru Iwata just told Time magazine that all that talk of a live-action Legend of Zelda series isn't exactly true: "As of now, I have nothing new to share with you in regard to the use of our IPs [Intellectual Property] for any TV shows or films, but I can at least confirm that the article in question is not based on correct information.”

Last month, The Wall Street Journal reported that Nintendo and Netflix are working on a Legend of Zelda series together, stating that a source described the show as "a Game of Thrones for a family audience." However, it should be noted that WSJ did caution that "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." 

So while this may not be the end of the road for a possible live-action Zelda series, it may be a long while before we see any movement on it.