Looks like the Magnificent Seven remake is going ahead. The following was reported by David Thompson on his Thompson on Hollywood web site.
"Nic Pizzolatto (whose few credits include two episodes of AMC's "The Killing" and the upcoming HBO series "True Detectives" with Matthew McConaughey and Woody Harrelson) is set to pen the script for MGM's long-gestating remake (of a remake), "The Magnificent Seven." The original 1960 version was itself a remake of Akira Kurosawa's 1954 masterpiece "The Seven Samurai." Tom Cruise is attached to star."