Just announced on Collider.

The classic sketch comedy series In Living Color is getting a reboot. The series, which ran from 1990 to 1994 on Fox and featured fresh-faced talent like Jim Carrey, Jamie Foxx, and David Alan Grier, is returning once again to Fox. THR reports that Keenan Ivory Wayans, who created the series, will produce the rebooted version. Wayans is set to make two half-hour specials that will air this spring, giving the network the chance of picking the show up to series next fall or mid-season.
No word on the new talent as Carrey is out, and I'm sure many of the original cast is as well. But I did love the original series. So I have hopes for this one.