Norma Bates (Norman Bates's mother) will be played by Oscar nominated actress (Up in the Air) Vera Farmiga in the upcoming A&E series that will serve as a prequel to the Alfred Hitchcock directed 'Psycho.' (THE HOLLYWOOD REPORTER)
The article from The Hollywood Reporter's LIVE FEED blog mentions that the series has been described as a "contemporary exploration of Norman Bate's formative years. So if the series is set in the present and not a period piece, referring to it as a prequel may be a bit misleading.
Some commentators have expressed their displeasure with television making yet another prequel. They've even singled out A&E specifically for abandoning the Arts and Entertainments that it originally stood for back in the '90s. However, isn't scripted television a step up from the reality garbage that has aired on the network for the past decade.