Naw, there was a rumor spread by certain members of the Buffy staff (i.e- the useless ones who retained rights since the movies, but had no input on the TV series), but it was eventually admitted to have merely been an attempt to get Whedon involved by making him think the series would be brought back without him, and it's good name ruined. He didn't fall for it.
Sadly, Season Eight/Nine and Angel & Faith (the comics) are the only continuation we're ever likely to see; the franchise has had too many failed attempts now, the Spike movie, the Faith series, the Animated series... etc, etc. And Whedon's too busy working with Marvel to have time for any other projects at the moment - and a Buffy without Whedon would work about as well as... Angel did without Whedon xD
Saying that, give it another decade and we'll probably be witness to a revival or reboot of some sorts. Most of the cast themselves have stated (including SMG (oh my god, her name is a gun! xD)) that they wouldn't be up for a movie due to the fact that Buffy the TV Series worked so well because of it's long arcs and character development - which is were the movie failed. However her Buffyship has said in interview that if Whedon could show her a script, and prove it would work, she would be up for it... so who knows? But saying that, it's most likely the series will be brought back at a far later time, with new actors, and better/cheaper special effects. Buffy was not a cheap show to make after all..
Still, as far as Buffy fans are concerned, the comics should be more than satisfying for just now. I'm waiting until Season Nine is finished before I start reading it, but I've heard rumor there's now a male, gay slayer (which I'm hoping will be explained...) so it's not like the franchise is dead