Jordan rejected it. - Edit 1
Before modification by Werthead at 28/04/2010 04:03:16 PM
This would be great, less expensive and have the highest possibility (with the rights directors, producers and editors) to deliver on all elements of the story without looking hokey and like crap.
I remember Jordan saying he'd had interest from a Japanese animation studio looking at making an anime based on the books, but they were only interested in doing the first three and ending the story there. Jordan wasn't interested in that, so no more discussions took place.
American animation works almost exclusively in children's work, or children's work that adults can enjoy (such as the superb AVATAR: THE LAST AIRBENDER series, which actually has some elements reminiscent of WoT, most notably the element-bending which recalls the One Power). Adult-oriented animation is pretty much dead in America. Hence WHEEL OF TIME would be very unlikely to be made as an animated series or film.
The best hope for animation fans is another Japanese studio approaches Harriet with plans to do all 14 books, but that is out of the question while Red Eagle retain the film rights.