They are incorporating it into Once Upon A Time sometime this season. Emilie de Ravin is going to be Belle.  So yeah, I have no idea why they just can't stick with that instead of making another show.

I have to say, the fairy tale break-up annoyed me. I really hate the whole "I must break their heart to save them" thing, and OUAT isn't the first to do it. Why does no one ever just say, "Oh, I can't be with you because they'll kill you" instead of "I DON'T LOVE YOU."