I heard talk of both a series and a DTV.
The DTV is still getting made, I believe. It's called Thor: Tales of Asgard and is based on the Thor: Son of Asgard comic series, which featured Thor as the godly equivalent of a teenager working his way up to being worthy of Mjolnir with Balder and Sif as his companions.
The series, on the other hand, was supposed to follow an adult but still relatively early (i.e. before coming back down to Earth and joining the Avengers and all that) Thor. But I haven't heard a single word about that since the very early announcements, and now Marvel/Disney seem to be putting all of their marketing power behind the Avengers: Earth's Mightiest Heroes series instead, so I have a sneaking suspicion that the Thor solo series has been canceled.