Lost, the story of plane crash survivors who arrive on a mysterious island and are subject to its mysteries ran for six seasons on ABC. The series became iconic and centered itself in the cultural landscape. After a lackluster final season of Lost and a very weak ending, the show completed its run. With plenty of questions that could be asked about the island and far more information that people could explore, a revival would be possible.
The network has considered it. According to TVLine, ABC president Channing Dungey spoke at the Television Critics Association's winter press tour and revealed the network has no plans to return to the island - but it's not something they're ruling out. Dungey said:
We have not had any official discussions about that. It’s something that’s on a list of, ‘Wouldn’t that be great if… ,' but at this point it’s only at that place.
Speculation about a Lost revival began when co-creator Carlton Cuse announced he was returning to ABC with a four-year deal to develop new projects for cable, streaming, and broadcast viewing either on his own or with others. When asked if Dungey had spoken with Cuse about returning to the island, she clarified that she "hadn't spoken with him yet" about any potential project.
Cuse's co-showrunner Damon Lindelof previously spoke about another group of showrunners using the mythology they'd set up to tell a new story about the island, just that he wouldn't be involved.
“It would be really exciting if there’s another incarnation of Lost, I just won’t have any association with it. Not because I’m too good for it. I just feel like, again, we worked so hard to end our story, that to come back and say, ‘Well, that wasn’t the real ending,’ would be frustrating."
While a revival might add to the confusion of the Lost ending just as Lindelof offered, a second series using that same mythology would be an intriguing direction to take. ABC has had some degree of success developing television adaptations that exist in the same universe as other properties with shows like Agents of S.H.I.E.L.D. Giving a pair of writers the reins to the mythology that Cuse and Lindelof created would be one way to continue the series and revive a classic piece of television without creating a tired revival like so many other networks are doing.
However the show had its ups and downs and its ending was hotly critiqued by both fans and critics alike. ABC hedging its bets by not committing to a future with Lost and the island is a smart move. If there's any future for Lost it can be a wonderful surprise and take the mysterious island in a direction that no one is expecting.