Earlier this year, The Wall Street Journal--citing an anonymous source--reported that Nintendo was working on a live-action Legend of Zelda Internet TV show for Netflix. It turns out, however, that this may not be true.

Nintendo president Satoru Iwata has now told Time: “As of now, I have nothing new to share with you in regard to the use of our IPs for any TV shows or films, but I can at least confirm that the article in question is not based on correct information."

You'll notice that Iwata's statement doesn't flat-out deny that such a production is in the works. GameSpot will continue to follow this story as it unfolds.

According to The WSJ's source, Netflix's Zelda TV show is aiming to be "Game of Thrones for a family audience."

Nintendo is known for being extremely protective of its franchises, only allowing a handful of TV/movie adaptations to date. Legend of Zelda was produced as an animated show, but it ran for only one season in 1989. And of course, the 1993 Super Mario Bros. movie was a trainwreck.

More recently, leaked emails revealed that Sony and Nintendo were discussing a new Mario movie. Spider-Man producer Avi Arad is reportedly brokering a deal with Nintendo to obtain the Mario film rights. Contrary to earlier reports, Arad says negotiations with Nintendo are not finalized, but rather "just the beginning."

Nintendo's next core Zelda game, an open-world title for Wii U, will be released later this year.