"Project Greenlight" is getting a red light from HBO, which has decided not to order a third season of the filmmaker-focused series.

NBC-owned Bravo has emerged as the likely home for the next installment of "Greenlight," according to sources, who indicated that the cable network is deep in negotiations with Miramax and its production partner Live Planet. Miramax reportedly received interest from broadcast and basic cable networks interested in picking up the third season.

A Miramax spokesman would only confirm that it is seeking a new home for the series. "We believe in 'Project Greenlight' and are currently re-evaluating its distribution options," he said.

HBO, which was licensing "Greenlight" on a season-by-season basis, declined comment. Live Planet could not be reached for comment.

While not quite the cultural phenomena that "The Sopranos" and "Sex and the City" became, the denial of another season for "Greenlight" came as a surprise. The series, which first chronicled the efforts of a rookie filmmaker in 2001, had built buzz and ratings in its second season, which completed its run in the summer.

Maybe even more surprising would be Miramax's interest in reviving "Greenlight," both seasons of which produced theatrically released films -- "Stolen Summer" and "The Battle of Shaker Heights" -- that fared poorly at the boxoffice. However, Miramax chairman Harvey Weinstein and Live Planet principals Matt Damon and Ben Affleck are said to be less interested in the films' earnings than in their ability to provide budding independent talent a shot at mainstream acclaim.

The series could be a natural addition to Bravo, which recently pacted with Miramax on a fashion-themed spinoff to "Greenlight" titled "Project Runway."

One factor in HBO's decision to drop "Greenlight" was the absence of a commitment from a third Live Planet principal, Chris Moore, to produce the film that would eventually become the centerpiece of the third season, according to sources. Moore was not only a guiding force in the development of both films but earned himself something of a cult following for his on-air role in past "Greenlights."

Equally uncertain is the future on-air involvement of Damon and Affleck, who squeezed "Greenlight" appearances into their busy shooting schedules.

The series underwent extensive changes in format before its second season, which expanded the contest at the heart of the program to recruit not only a director but a scriptwriter whose struggles are recounted each episode.

More tinkering is expected, with more time likely to be allotted for the winning writer to develop his or her script after a rushed process last season resulted in an uneven product.