Masters of Science Fiction was a short-lived ABC show with a similar premise, though devoted, as the title suggests, to a different genre. It featured adaptations of stories by Robert Heinlein, Harlan Ellison, and Robert Sheckley among others.
It would seem to me that in the wake of the Lord of the Rings trilogy, the Harry Potter films, and with A Game of Thrones on its way to HBO, the way might be paved for a fantasy anthology--a Masters of Fantasy, perhaps?
In thinking of stories to adapt, one would have to think of things that could be done justice in an hour time-frame, in the budgets it would likely have, and for the audience of cable TV. Like the anthologies mentioned above, a mixture of classics and new stories would probably be what we’d see. Of course, while their would probably be a temptation to go with stories set in the modern era, what I'd want to see would be a mixture of settings, both mundane and fantastic. Here are some stories, off the top of my head, I think would work in those parameters:
- “The Charnel God” by Clark Ashton Smith
- “People of the Dark” by Robert E. Howard
- “Only the End of the World Again” by Neil Gaiman. (I would love to see “Murder Mysteries” but it might be a bit ambitious)
- “Undertow” Karl Edward Wagner
- “O Ugly Bird!” by Manly Wade Wellman
- “Mai-Kulala” by Charles R. Saunders
- “The Sustenance of Hoak” by Ramsey Campbell
- “The Cloud of Hate” by Fritz Leiber