Future #2: Hand me the tricorder--maybe there's still a pulse.

Paramount has a lot on its plate and on its mind at the moment, so the prudent thing to do would be: nothing much. Just sit back and see how things unfold. Will the fan base wither? Will demand build? Will someone come forward who is interested in reviving Star Trek?

Somebody like... Steven Speilberg (currently awaiting the presumed blockbuster sci-fi movie, "War of the Worlds" he made for Paramount)? Or George Lucas who tried to acquire the Star Trek franchise before he made Star Wars?

Then of course Paramount would have to decide whether to make a deal that would probably mean they'd lose control of the franchise, or whether the fact that somebody like Speilberg or Lucas is interested in reviving it means they should take another look at it themselves.

Paramount could further test the waters, and maybe ascertain whether there is a future beyond conventional TV and feature films, by providing limited rights to outfits like New Voyages and Hidden Frontier to sell their movies on DVD. This would provide income to Paramount while giving them some idea of audience, and what might appeal to them. Sure, it's already embarrassing that some of these fan made movies are more popular than Enterprise was, which could be a problem if Paramount decides to make their own movies or TV shows again. But it could also be a low risk research tool, eventually a marketing tool, and a new way to bring in some cash for awhile longer.