Honestly, that...doesn't really sound too good. It seems like a collection of 6 minute long CN ID's from the 90's as a TV show. I don't think the die hard LT fans would like that any better. Of course, they automatically hate anything that isn't from the 1950's, anyway. Can't really blame them, but other than 2 horrid misfires, the Looney Tunes based cartoon series have been thoroughly enjoyable if different. Then of course they gave LTS the heave ho. I don't think they even showed the last episode in the US.
And considering LT:BIA got such a cold reception (thanks to Elf and Cat in the Hat), I doubt they're really looking to another movie, no matter how many times they threaten the Marvin the Martian and Bugs Bunny live action pictures. Weren't we even supposed to get a sequel to that dull, poorly cast Yogi Bear movie by now too? So that's why I'm not buying Space Jam 2. Especially since it's also been widely debunked.