Put away all of the scrunchies and the neon spandex. It looks like the Gossip Girl 80s-inspired spin-off is officially not happening.

According to this roundup from The Ausiello Files the new show that was supposed to star Brittany Snow and Kristen Ritter has been canned by the CW and will not appear in the fall lineup.

There have been rumors swirling around for some time that the spin-off would not get picked up by the network, but several fans were holding out hope that it might make it to the screen.

We got a preview of what was supposed to be the pilot of the new show in the Gossip Girl episode “Valley Girls” which featured flashbacks from Lily’s past. Apparently even the full-out 80s wardrobe and an appearance by supergroup No Doubt couldn’t save this sinking ship.

We have to admit that we are a little bit bummed by this development. It looked like the show did have some potential and I really do like both Brittany Snow and Kristen Ritter. Well, at least we know that Gossip Girl will be back in the fall with all of our favorite characters.

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I’m not all that upset, I know Brittany will do bigger & better things in her career. Brittany herself wasn’t sure about taking on this role because she wanted to focus on her film career rather than a television career.

Attention Brittany Snow fans: Don’t panic. The news is not as dire as you’ve heard.

Deadline Hollywood Daily reports that the Gossip Girl spinoff (which we lovingly but inaccurately call Lily) is “dead” at the CW. Could it be true? Could Lily already be off the list of contenders for CW’s fall season before we’ve seen the backdoor pilot (sneak peeks notwithstanding)?

The official word from the CW is “no comment,” but here’s what insiders are telling us right now:

“Nothing is dead,” says a source close to the network. What’s that mean? That means the CW programmers are still making their decisions, and everything, including Lily, is still under consideration.

The problem for all of the CW pilots this year is that with Privileged likely to get a pickup (yay for Rina Mimoun!), there are only three spots left in the CW’s 10-hours-a-week schedule for new shows. (Gossip Girl, 90210, Supernatural, Smallville, One Tree Hill and America’s Next Top Model have all already been ordered for next year.) Throw in the new Melrose Place (which seems to be a virtual certainty), and you’ve got just two holes left to fill.

Lily may indeed be fighting for one of those two slots against the likes of Mischa Barton’s The Beautiful Life and Vampire Diaries, but it’s not out of the running yet.

So what’s the good news for us fans of Snow and her onscreen sister Krysten Ritter? Lily has a lot going for it, including that crackerjack cast, the publicity that comes with anything associated with Gossip Girl, and the nearly irresistible idea of pairing it with the mothership on Monday nights for a block of Josh Schwartz/Stephanie Savage-produced goodness.

Do you want a Gossip Girl spinoff? Or are you waiting until you see what they do with the Lily flashback on Monday’s episode, airing 8 p.m. on the CW?

Source: E! Online