There have been a few attempts to move The Sandman to another medium, most notably a movie involving Roger Avary. Much like Watchmen, The Sandman would likely lose something in translation which would incur the wrath of the fans. Eric Kripke would likely be taking a huge weight on his shoulders trying to get the concept right should he accept this project.
Please have this show on one of the pay networks like HBO. Don't put it on the CW. If it was on the CW, Dream and Death would end up becoming human teenagers that try to fit into high school or something stupid like that. Keep to the source material. Thank you.