By Peter Lesser ( | First Posted: Jun 07, 2013 10:59 AM EDT

AMERICAN HORROR STORY -- Pictured: (Clockwise from bottom) Cloe Sevigny as Shelley, Lily Rabe as Sister Mary Eunice, James Cromwell as Dr. Arthur Arden, Sarah Paulson as Lana Winters, Clea Duvall as Wendy, Zachary Quinto as Dr. Oliver Thredson, Jessica Lange as Sister Jude, Evan Peters as Kit Walker, Lizzie Brochere as Grace, Adam Levine as Leo, Joseph Fiennes as Monsignor Timothy Howard (Photo : Frank Ockenfels/FX Network)

For fans of "American Horror Story," life just got a little sweeter. Not only is the series returning to FX this October with its third season "Coven," but it could be getting its own companion series as well. Back in March, co-creator Ryan Murphy expressed interest in streamlining the new series, and now FX Networks CEO John Landgraf informs fans that there's a strong chance that the new show will see the light of day.

"I'd love to do it," Landgraf told The Hollywood Reporter. "We're thinking about it. If we do it I don't think we'll necessarily do it the way AMC does, as a linear thing. We might do an online thing. We haven't made a final decision but I think there's a decent possibility we're going to do something like that for 'Coven.'"

The companion series may still be in consideration, but the network has reportedly done a "fair amount of legwork" to get it off the ground and running. The future looks bright for the potential series, however, there's still a long way to go.

Murphy originally got the idea for the series after AMC launched "The Talking Dead" as a post-show companion to the hit zombie series, "The Walking Dead." The format has proven successful, motivating the network to launch a similar companion, "Talking Bad," to tag on to "Breaking Bad," which will be coming to an end this year.

There is no confirmed host for the "American Horror Story" companion series, however, the wheels are in motion.

Production on the third season of "American Horror Story" is still its the infant stages, but the actors are gearing up for the approaching return to the set. The new season will star a slew of newcomers to the show, including Patti Lupone, Emma Roberts, Angela Bassett, Gabourey Sidibe and Kathy Bates. While speculations as to who will play the role of Hank run rampant, stay tuned for more "American Horror Story" news as the third season approaches.

"American Horror Story: Coven" will return to FX in October.

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