'Extreme Makeover: Home Edition' host Ty Pennington is reportedly eying a daytime show.

According to Deadline Hollywood, the former 'Trading Spaces' carpenter is under contract with ABC until 2012, but that hasn't stopped Pennington and his management team from preparing a new program.

Pennington is looking at other networks besides ABC and considering striking up syndication and cable partnerships for his new show. Team Pennington is also said to be in discussions with some major sponsors, with alternative revenue streams as a big component to the series.

One of Pennington's managers, Bill Stankey, helped Joy Behar get her own primetime show while maintaining her 'View' post, so their hope could be that Pennington will do the same.

• 'Family Guy' creator Seth McFarlane is recording an album. According to Vulture, McFarlane told Jay Leno that his album will be a mix of big band songs and swing arrangements of classics.

• Jane Badler, Diana on the original 'V' miniseries has been tapped to play Anna's mother on ABC's 'V.' According to TV Guide Magazine, Badler will play a new incarnation of Diana on the sci-fi series. Look for Badler to appear on a recurring basis.

• Noah Reid has been cast in Syfy's new pilot 'Three Inches.' Deadline Hollywood is reporting that Reid will play Walter, a twenty-something slacker who gets superpowers, but not just any power, he gets the ability to move any object three inches. Walter then begins to recruit others with seemingly lame powers.

• 'Saturday Night Live' star Fred Armisen's 'Portlandia' has been greenlit by IFC. According to Deadline Hollywood, the series about the people and customs of Portland, Ore. will shoot on location later this month. Armisen and costar Carrie Brownstein will be on the writing staff and Lorne Michaels will executive produce.