Ok, so Nintendojo doesn't have a source for this, but this is an excerpt (ok, three paragraphs) from some recent thing on Nintendojo:
4Kids Entertainment, Inc. today announced that it signed a long-term agreement expiring December 31, 2005 with Nintendo of America Inc. to serve as the exclusive merchandise licensing agent for Nintendo game systems (Nintendo GameCube, Game Boy Advance), Nintendo Classic characters (Super Mario Bros., Donkey Kong etc.) and certain new Nintendo characters (Pikmin etc.) throughout the world excluding Japan.
The new agreement also gives 4Kids the exclusive right to license live action and animated television rights, home video rights and theatrical motion picture rights to Nintendo Classic properties, and certain new Nintendo properties. 4Kids also gains the right to produce, by itself or with partners, television series and other productions based on such Nintendo properties. The new agreement replaces the previous year-to-year agreement between Nintendo and 4Kids and does not affect Pokemon, which is covered by separate agreements between 4Kids and The Pokemon Company.
While 4Kids did not make specifics available, the company now has the rights to create a Mario cartoon, a Zelda movie release, and even a Pikmin exercise video. It is possible that this could mark a rebirth in Nintendo licensing. In the late eighties and early nineties Nintendo characters had their own cereals, happy meals, television shows, and clothing lines.
So as said here, it IS possible to have a new Mario cartoon. And likewise, a Zelda movie thing or whatever. Let's just hope what they're saying is true, and that we can see some sort of Mario-related show in the near future.