The Event, which starred Jason Ritter and Blair Underwood, was cancelled by NBC last month after one season.
Fans have since been hoping that another network would pick up the show and produce new episodes.
Yesterday, Deadline claimed that Syfy was in talks to continue The Event as a miniseries. Syfy and the show's production company Universal Media Studios are both owned by NBCUniversal.
The negotiations were reportedly hinging on whether it would make sense financially for Syfy to take on the show.
However, Syfy executive Craig Engler has now denied the rumours in a post on the network's Twitter page.
"To answer some questions I've been getting, at this time we have no plans to pick up The Event," he said.
The Event's creator Nick Wauters and executive producer Steve Stark have previously suggested that the show could continue on another network.
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