Heidi Klum, Project Runway

Barbara Nitke/BRAVO

Project Runway may have only one season to go on NBC Universal-owned Bravo, but the studio is looking to make sure it gets first dibs on the next wundershow that comes along.

NBCU announced Monday it has inked an exclusive first-look deal with Runway producers Dan Cutforth and Jane Lipsitz, whose Magical Elves shingle is also behind the Bravo hit Top Chef.

Meaning, Cutforth and Lipsitz won't be bringing the magic to Project Runway once it moves to Lifetime.

"We love Runway, we built our business to some extent on Runway, and we plan on doing a kickass job on season five," Lipsitz told Variety. "But we don't want to do work for hire anymore. We have limited time and energy and focus, and it doesn't make sense in terms of our new deal."

Not one to cry over split threads, the Weinstein Company, which inked the $150 million deal that handed Runway over to Lifetime, said it is already in talks with a new production team to helm the Peabody Award-winning show.

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