Although Logan Lerman long announced that "Percy Jackson 3" is not happening, many fans of the movie franchise have been clamoring for a sequel to the last "Percy Jackson" movie, "Percy Jackson: Sea of Monsters," which was shown in 2013. However, hope is not lost for the fans who wish to see another live-action "Percy Jackson" as the rumor claiming that it will be adapted into a TV series keeps getting louder with each passing day.

It has been reported anew that "Percy Jackson" will be adapted into a series on The CW, and, allegedly, the network has set aside a budget of $12 million for its first season. However, there's a catch: A new actor will be breathing life to the Percy Jackson character as the network allegedly wants a younger actor to portray the role.

Earlier reports claimed that The CW is planning a 10-year contract deal with the upcoming said members, including, of course, the actor who will play the titular role. In addition, the report also claimed that Rick Riordan, the author of the "Percy Jackson" series of books, had expressed his desire to pen the script for the TV adaptation and wanted the network to remain faithful to the books he has written.

With this, it is now presumed that the planned "Percy Jackson" TV series will start telling the story of the modern demigod from the very beginning and will not just begin with the third book in the series of novels of Riordan, "Percy Jackson: The Titan's Curse," and may start from the very first book that has already been made into the first-ever "Percy Jackson" movie, "Percy Jackson & The Olympians: The Lightning Thief."

It was in 2014 when Lerman confirmed with MTV that fans could not expect a third "Percy Jackson" movie, at least, one that involves him.

"It's been a great experience for me. It's opened up a lot of doors for me, but I don't think it's happening," Lorman said.

Is The CW really producing a "Percy Jackson TV series? Who will be the new Percy Jackson? Will the rumored "Percy Jackson" TV series be as popular as Lerman's "Percy Jackson" movies?

Fans can only wait and see.