Universal seem to have realised that they can't do WoT as a movie or series of movies with any rational or logical expectation of completing the whole story (2 or more movies per book? 28 movies? Not going to happen). At the same time, doing it as a TV series appears to be non-viable because of the budgetary restraints.

Doing GoT/ASoIaF as a TV series is doable because people aren't hurling fireballs, tearing open holes in the fabric of reality or fighting dozens of CGI monsters every other episode. Doing the One Power, Trollocs, Seanchan creatures (who'd all have to be 100%, very expensive CGI) and so forth on a TV budget would be extremely difficult, even if Showtime or AMC were doing it (since HBO presumably won't be interested in another epic fantasy project).

Logistically fitting the books into a TV series is achievable: two books per season = seven seasons which is fine. You could probably do 7/8/9 and 10/11/12 as one season each, even, which would take you down to six seasons, which is even better. It's just the expense which makes it dubious.

Of course, turning it into a movie trilogy or even a seven-film project would give you the money, but you'd sacrifice somewhere between 50-75% of the story to get there.

It's a paradox with no middle ground that will satisfy everyone. Until Red Eagle and Universal decide to go with one of these ideas or find some other compromise, I'd say the chances of WoT making to the screen are pretty close to zero.