LOS ANGELES, California (X17online) - Though The Hollywood Reporter said earlier this morning that producers of the CW's hit show, Gossip Girl, are planning a spinoff series, it looks like that might have been a premature announcement.

THR reported that producers are either planning to give Jenny Humphrey (played by 14-year-old actress Taylor Momsen) her own series, or introduce a new character who will be given their own spinoff. However, Gossip Girl creator Josh Schwartz told E! Online:

"Not sure how this got out there, but no plans for spinoff at this moment. The books do have a spinoff, but we have nothing in the works right now other than making sure season two gets off to a great start."

Additionally, a source at the CW also told E! Online, "If the second season does as well as we expect it to, then we'll probably try to make it happen."

Due to her financial and social status, Humphrey is a outsider who struggles to fit in with her circle of Upper East Side peers. In the Gossip Girl books, Humphrey embarrasses herself by doing a risque shoot for a teen magazine, among other mortifying incidents. After realizing that she can't save her reputation, she switches to a different private school and goes on to become the popular girl at her new campus. Humphrey's story is told in six spinoff novels titled The It Girl.

Alloy Entertainment owns both of the book series and co-produces the television show. They also have a first-look deal with the series co-producer Warner Bros. Television. Therefore, the CW has right of first refusal on a spinoff series, and if it is refused, Alloy Entertainment could potentially shop the spinoff project to various cable networks with a young female demographic such as ABC Family and MTV.