Reports confirm that 20th Century Fox have rejected the initial script for the movie which was penned by Billy Ray (author of the State of Play screenplay). The show's Executive Producer, Howard Gordon, has told Entertainment Weekly that he's disappointed that studio didn't like the script and that the project is now in 'suspended animation'.
Though little is known of the plot, it seems that the main idea would have flowed out of events in the show's final season, which saw Jack Bauer officially disavowed but secretly allowed to escape by the President as he saved the day once again. There was initially much talk that a film would take Bauer (and possibly members o the supporting cast) into a higher budgeted adventure, though the element of 'real time' events would probably have been dropped.
Gordon believes that the current status could be mrely a speed-bump on the way to a big-screen outing rather than a full-stop (many a movie gets delayed into development hell' en route to going before the cameras). However with no script to work with so far, it would seem unlikely that any production would begin in 2011.