EXCLUSIVE: Peter Gallagher on NBC's 'Cruel Intentions' Revival: 'It's Still Very Much Alive'

Columbia Pictures

There’s apparently still hope for NBC’s Cruel Intentions revival.

Peter Gallagher,
who was cast as Sebastian’s father, Edward Valmont, in the project, shared some potentially uplifting news for fans hoping to see the drama make it to television.

RELATED: Sarah Michelle Gellar Says 'Cruel Intentions' TV Reboot Will Be 'Better, Badder, B****ier'

NBC’s Cruel Intentions picks up 15 years after the 1999 film and centers on Kathryn Merteuil (Sarah Michelle Gellar) as she fights for control of Valmont International and the soul of Bash Casey (Taylor John Smith), the son of the late Sebastian Valmont (Ryan Phillippe's character in the movie) and Annette Hargrove (Reese Witherspoon’s character in the movie).

“What I hear is that it’s very, very much a possibility,” Gallagher told ET recently. “There have been a lot of changes going on over at Sony lately, so it’s kind of slowed things down, but they’ve stuck the pilot.”

Earlier this month, news broke that Sony Pictures Television head Steve Moskowas exiting his post after more than two decades. 

PICS: Sarah Michelle Gellar Dyes Hair Brown for 'Cruel Intentions' TV Sequel

“I guess a lot of people have responded very well,” Gallagher, 60, said of the Cruel Intentions revival. “A lot of people were interested in it and the pilot is really good.”

While this is surely good news, the former O.C. star was cautiously optimistic about its chances of getting a series pickup. A source tells ET that Cruel Intentions is "still in play."

“I wouldn’t be surprised if something happens with that,” Gallagher said. “It’s still very much alive, I think.”

RELATED: Sarah Michelle Gellar Shares Nostalgic 'Cruel Intentions' Pic With Reese Witherspoon and Ryan Phillippe

Creator Roger Kumble, who wrote and directed the original movie, also shared a promising update last week, telling Variety that “Sony and NBC are trying to figure this out.”

“What’s been great is that I’m still getting emails of support from NBC and Sony saying, ‘We’re behind this show,’” Kumble revealed.

In April, Gellar opened up to ET about reprising her role as Kathryn in the TV reboot, saying that the new iteration is "really unique and really different," even going so far as to say it's "better, badder ... can you say b****ier?"

To watch the rest of Gellar's exclusive interview, watch the video below.