Are Liza Minnelli and David Gest planning to become the next Osbournes? According to gossip maven Liz Smith, the newlyweds are in discussions to launch a "Liza and David" series for the VH1/MTV Network.

Hoping to capitalize on the phenomenal success of MTV's "The Osbournes" — the newest reality show that follows the rocker Ozzy Osbourne and his dysfunctional family — Liza Minnelli and David Gest are contemplating their own reality show. Should this idea come to fruition, the couple would be filmed weekly from their New York City apartment, both alone and with fellow entertainer friends like Michael Jackson and Elizabeth Taylor. The Gests, who leave for a European vacation this week, have yet to comment on the project, but producer Gest did say, "We have some commitments coming up so we'll be back in New York soon."

In related news, Minnelli's West Coast spokesman did confirm that the singer actress will tape a television special based on her recent concerts, "Liza's Back!" According to the New York Post, guests for the TV production will include Luther Vandross, Usher, Barry Manilow and Tony winners Joel Grey and Chita Rivera.

Minnelli, an Oscar winner for her performance in Cabaret, was last on Broadway in a tribute to her late father entitled Minnelli on Minnelli, which she then took on a tour that was cut short due to poor health. Her marriage to David Gest earlier this year has reinvigorated both the star and her career. In fact, Minnelli returned to New York last month for a series of concerts at the famed Beacon Theatre. In addition to her Tonys for Flora, the Red Menace and The Act, Minnelli was awarded a special Tony in 1974 for "adding lustre to the Broadway season." Her film credits include "The Sterile Cuckoo," "Arthur," "New York, New York" and "Stepping Out." The singer is also a Golden Globe and Emmy Award-winning actress.

—By Andrew Gans