Ever since Terra Nova wrapped up its first season right before Christmas, fans have been wondering just when the show will receive news of either its cancellation or renewal. Now, with the FOX president at the TCA winter tour today, of course the question popped up. Turns out, the report about FOX waiting to see how Touch and Alcatraz do is somewhat wrong, as the boss revealed that Terra Nova‘s fate would be decided sometime in the next month.

Now the reason why Terra Nova‘s fate is now being immediately decided is due to its unique production. Obviously, there’s a lot of CGI involved, as well as the large sets, and props, so FOX wants to get the series into production in February…that is, if they choose to renew it.

The boss of FOX said that, ”There’s a show to bring back, there’s an audience there to access… We’re going to decide very soon. If [it doesn't come back], we made money on it [and] the audience enjoyed it.” He offered up a little negativity, saying that the series was “hunting for itself creatively through the season.”

The first quote sounds very much like they’re leaning towards renewing it, huh? It wouldn’t honestly surprise me, given Season 1′s production troubles, if the second season is held off until mid-season next year, which some fans may not want to hear. But, it would give production time to fully flesh out a great story that veers more away from a dino-prodcedural and focuses more on the overarching concepts introduced. Plus, the year away gives plenty of time to have new audience members discover the TV series on Netflix, Hulu, Fox.com, home video, etc.

We’ll keep you updated on what FOX decides to do with Terra Nova as information is revealed.