CBS and CW were both eyeing the reboot (which isn't a sequel series) and the latter has snagged it. It's set to take place in and film in Austin, where Jared lives. He's set to produce and it follows Cordell Walker, a widower and father of two, who returns home after an undercover assignment and along with a female partner, continues to fight crime. He'll reconnect with the kids and clash with his conservative family. He also has suspicions about his wife's death.
Meanwhile, Jake Abel and Shoshannah Stern are both back on set for 15.08 - which Richard Speight Jr., the latter's Jericho co-star is directing.
The cast and crew shared pictures and video of Jake and Shoshannah's returns.
Sources 1, 2, 3, 4, 5, 6