I really can't see the MU working as an ongoing series. Its a one joke thing, and it would wear out its welcome very fast...
...unless they really go for the emotional/political realism angle. Instead of just treating the MU as a sleazy joke, which it devolved into, particularly on DS9, treat it with the seriousness and complexity of Game of Thrones. Hmm, that could work. There's a fantasy angle to the MU that fits in with modern cable show appetites for stuff like True Blood. It's an easy way to justify getting Trek out of the safe-vanilla tone that is going to simply bore the stuffing out of modern cable audiences. They've all gotten used to much redder meat.
But realistically, I'm still going with this as the likeliest option: CBS-Netflix co-production, distribute in America on Netflix, ditto for territories where Netflix has a presence, CBS handles distribution otherwise globally. Don't worry if you don't have Netflix where you are.
Tone is not far off from traditional Trek, maybe a bit more adult and significantly more serialized. More blood, more violent action, a bit racier, but nowhere near Showtime style graphic sex. You should be able to watch the show with your hip grandma. Intelligence/complexity level will hit somewhere between The Walking Dead and Falling Skies. Game of Thrones is wishful thinkng.
Setting: 23rd C, Abrams U to the extent we can tell. The way we'd be able to tell is when they bring in movie actors for guest shots. I could see Quinto, Nimoy and Cho agreeing to cameos or short plotlines.
Premise: Starfleet crew, going boldly, nothing fancy there. Not the Enterprise crew but reminiscent of them. No civil war, no corrupt Federation. Plenty of life left in the Starfleeters on patrol concept, particularly if its serialized, something we've really never seen.