Programming boss Barbara Williams said Wednesday morning the broadcaster had picked up a reality show about the leggy Vancouver blond.
But later in the afternoon, a Shaw spokeswoman said Williams "misinterpreted" a reporter's question and that such a show "is not part of Lifetime's channel lineup and has not been commissioned by the network."
Talackova made headlines around the world when she was initially prohibited from competing in the Miss Universe Canada pageant because she was born a man.
Pageant boss Donald Trump ultimately allowed Talackova to compete in the Toronto pageant earlier this month, where she was cut after making the top 12.
Talackova has said her future goals included modelling for Victoria's Secret and Sports Illustrated.
The misunderstanding about the reality show arose at Shaw's news conference to reveal its fall and winter lineup.
A clip of Talackova was included in a montage of upcoming programming. When a reporter asked if a reality show about the beauty queen was headed to Lifetime, Williams answered "yes."
A spokeswoman said the clip of Talackova was actually from a news program. Williams could not be reached for comment.
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