The news: The LA Times gets confirmation of the Jericho-resurrection talks from the producer.
The bad news: The deal would be for only eight episodes at midseason.
The good news: the episodes would not be the definite end of the series, but would allow the option of the show continuing–if it does well enough.
At risk of enraging the Jerichites, this sounds fair to me. It’s not what Lost is getting, but neither are the ratings or revenues. The show would at least have a chance to prove itself, and the fans, the chance to prove that the show can be worth CBS’ investment. To which end, you might want to rush out and buy the Jericho first-season DVD when it becomes available. That may be even more persuasive than a box of peanuts.