Robert Greenblatt, the network's entertainment chairman, confirmed the possibility of an additional season at a press event Sunday, EW.com reported.
"Absolutely," Greenblatt said of a possible fifth season. "We're always hopeful for a show to continue. And we co-own it. I'd love nothing more than to see it continue."
Discussing the expected departure of co-star Chevy Chase this season, Greenblatt said: "Actors come and go on a lot of shows and this is a big ensemble. I don't think that's going to be a big negative about the future of the show."
Season 4 is to debut next month.
Notable deaths of 2014 [PHOTOS]