TFN says rumors about TV show being set during OT are false.
From TFN:
Original Report
# Live action TV series will be based around the Original Trilogy. Previously we'd been told it would take place between Episode 3 & 4.
New Report
Updated!
We've just received word from a fan of TheForce.net, Matt Martin who was at the Sansweet presentation and writes in with this:
"I was at Wondercon and at Steve Sansweet's presentation and he did say the live action show would take place between 3 and 4 NOT during the OT as AICN said. They get stuff wrong all the time anyway. I was just hoping to clear this up for the real Star Wars fans out there who depend on TFN for their news. Not only did Sansweet say that it would take place between 3 and 4 during the Q and A but they also showed the clip from Celebration 3 of George Lucas saying it during Wondercon's SW in 2005 montage.