The focus of Catan is the gameplay, not storytelling. From what Katz has said about the project (which is not much), it sounds like the development of Catan TV or films will rely on the game as a starting point. A story will be built on top of the basic rules and setting of the game. Katz has been involved in the past with projects like Air Force One and The Perfect Storm.
This wouldn’t be the first time a board game lacking in story was adapted by Hollywood. The results so far have not been particularly impressive. There was, of course, the rather terrible 2012 Battleship film and the utterly forgettable Ouija from late last year. Hey, there’s always a possibility that Settlers of Catan will be made into something delightfully quirky like Clue (1985). There’s no timeline for development of any content based on Catan, but in the meantime, anyone want to trade some ore? What about sheep?