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07/06/2011 AT 02:00 PM EDT
She won't be taking on Wonder Woman
, but Elizabeth Hurley will still soon have some tough – not to mention fashionable – competition.
The actress, who was to play the super-vixen's rival Veronica Cale in the failed Wonder Woman reboot
on NBC, has a new television gig on Gossip Girl
Hurley, 46, will tackle the Upper East Side and its flashiest residents in the upcoming fifth season – which premieres Sept. 26 – for a multi-episode story arc, reports TVLine
Executive producers Stephanie Savage and Joshua Safran say Hurley will play Diana Payne, "a sexy, smart, self-made media mogul and all-around force to be reckoned with," who will make her mark on the show's conniving characters, including the mysterious Gossip Girl herself.
"Elizabeth's sense of humor, intelligence and beauty fit the GG
world perfectly," the producers explain. "We feel very fortunate to have her."