If Telltale Games does not announce any definitive KQ plans in the next five months, then they should give up the KQ license and let another development team (who actually respects the KQ series and KQ fans) bring the series back to life in a proper way and in grand fashion, the way the series deserves. Dave Grossman has been dismissive of KQ, and it has been a long time since we have heard anything from Telltale about KQ.
It is a slap in the face to fans of classic adventure gaming for Telltale to essentially sit on the KQ rights and prevent any new KQ game from being made, while they pretend like TTG is doing adventure gaming a favor by having acquired the license in the first place.
I think most of us realize that Telltale Games was never the right developer for a new King's Quest, anyway. Telltale is great when it comes to nonchallenging, somewhat formulaic, episodic games with limited virtual exploration. They seem to have settled on a strategy of acquiring licenses for well-known brands, and then releasing games that attract more attention because of the movie/book/comic brand than they do for the actual original merits of the game. And more power to them.
Many of us were willing to give Telltale the benefit of the doubt, but enough is enough. If, in 5 months, Telltale hasn't announced anything definitive about KQ, then they need to do the right thing and relinquish the license so someone else can bring back the series the right way.