The Cowboy Bebop live-action adaptation has been canceled. The show will not be renewed for a second season, according to The Hollywood Reporter. The Hollywood Reporter said that the show's poor reception was the reason for its abrupt cancellation.
Cowboy Bebop was criticized for its weak pacing and cheap-looking costumes and sets, but it failed to capture the essence of what made the 1996 anime one of the best examples of the genre. The show grew on Andrew after it failed in the first episodes, while I thought the show took some weird but interesting risks.
The live-action adaptation was announced in the fall of last year and was released three weeks ago, with a shot-for-shot remake of the opening theme. There will be some plotlines that will be left hanging by the end of the show, but at least we got new Yoko Kanno music to enjoy, so the show's cancellation isn't a total loss.
There is a series being produced by The Verge.