The Gossip Girl spin-off will center around Serena's mom, Lily, and Dan's dad, Rufus, currently played by Kelly Rutherford and Matthew Settle.
"The show will focus on the early romance between Lily and Rufus", an insider tells Star. "It begins when they first meet, during a time when Rufus and his band are at the height of their career. The show will follow the high society and rock 'n' roll lifestyle in New York."
None of the original cast members will be leaving the show as, the insiders adds, "two new actors will be hired to play the young Lily and Rufus. Producers are planning to introduce the new couple during a flashback scene in an upcoming episode of Gossip Girl."
Update: Unfortunately, Star mangled the story beyond recognition, and here's what's really happening...
Gossip Girl's producers and Warner Bros., the studio behind the series, tell us, "Contrary to the rumors and false reports breaking in the tabloids, there is no approved concept and/or confirmation of a Gossip Girl spinoff at this time."
Source: Watch with Kristin