Per Deadline, Sony will continue to prod BET over a possible deal, while Hulu, which has Underground streaming rights, is reportedly willing to resurrect the series — but only in association with a cable partner:
I hear back then BET came close to a deal for the drama, about the famous underground railroad network that used to smuggle slaves from the South to the North, before the Viacom cable network pulled out. At around the same time, BET took in hip-hop/cheerleading-themed scripted series The Breaks and Hit the Floor from sibling VH1, which were relocated as part of the program migrations at the realigned Viacom cable group.
I hear Hulu had been willing to stay involved as a streaming partner for Underground, possibly in a shared deal similar to the one it has with CMT for Nashville, but would not step up to take in outright the praised period drama, whose price tag is said to be around or north of $4.5 million an episode.
I hear Sony TV explored other streaming services that can handle high-end series, including Netflix, which passed. That left the studio with the option of finding a cable network that could do the show in tandem with Hulu.
[..] The odds are long, but I hear Sony TV plans to push through until it runs out of avenues to pursue. And if there is hope, the studio would extend the actors whose options are coming up at the end of this month while it continues efforts to keep Underground alive.
Will Sony find another network to partner Hulu in resurrecting Underground for Season 3? Stay tuned…