Woods also co-wrote upcoming The A-Team TV adaption, and was the screenwriter for Hitman and Swordfish.  I don't want Die Hard 5 to be anything like those things, but apparently Fox doesn't read my angry drunken emails.  From Risky Business:

“Hitman” screenwriter Skip Woods is in negotiations with Fox to take a crack at a new “Die Hard” script. The New York cop known for consistently being in the wrong place at the right time has already survived four run-ins with terrorists, traitors and psychotic loose cannons of one stripe or another.

There’s no word yet on the new project’s story line, but former Fox exec Alex Young (“Unstoppable”) is producing.

I really don't want my favorite action franchise ruined by a poor quality, unnecessary sequel.  Some people might argue that it already was with Live Free or Die Hard, but those people clearly hate freedom as that movie was great, even if it was mildly dubious at times.  Stay tuned for more info on the project as it emerges.

Props to FilmDrunk for the find.