There may be new life for the Magnum P.I reboot that was canceled after four seasons at CBS.

In an exclusive report from Deadline, talks are reported underway for the canceled CBS series to be saved by either NBC or the USA Network, both of which are NBCUniversal properties. Universal Television, also an NBCUniversal property, co-produces the series, which would make this easier.

In the wake of the show's CBS cancellation on May 12, Universal Television reportedly began exploring other networks for where the show could continue airing.

According to Deadline, one scenario is for new episodes to air on NBC while USA would run previous seasons of the action drama, a reboot of the 1980s series that starred Tom Selleck

When we last reported on Magnum P.I., it was revealed that the reboot was one of four shows canceled by CBS, joining the ranks of shows such as Good SamHow We Roll and B Positive. According to The Hollywood Reporter, the series brought in an average of 7.4 million viewers and received a 0.7 rating among adults in the 18 to 49 year demographic.

'Magnum P.I.' starred Jay Hernandez as Thomas Magnum, a private investigator and former Navy SEAL who solves crimes in the Hawaii after returning home from military duty in Afghanistan

The series sees Hernandez taking over the title role.

Aside from Hernandez, Magnum P.I. starred as Perdita Weeks, Zachary Knighton, Stephen Hill, Tim Kang and Amy Hill. The series was executive produced by Eric Guggenheim, Justin Lin, John Davis, John Fox, and Danielle Woodrow.