Buffy’s back — we mean, Sarah Michelle Gellar is returning to television. The actress will headline a new series on CBS entitled “Ringer.” For the most part, details about the show have been scarce. All we have is a byline that says the series centers on “a troubled young woman on the run who hides out by living the life of her wealthy twin sister, until she learns her sibling’s life has a bounty on it as well.” Now over at EW, they’ve gotten some new info that clarifies its premise and Gellar’s new character.

Peter Traugott, the pilot episode’s producer and the head of the show’s production company, recently revealed his take on “Ringer.”

“It’s an edgy thriller about redemption and about revenge. There’s a point of view of two twin sisters who grew apart over a tragedy in their past. And one now seeks redemption and the other one seeks revenge. The sister who is seeking redemption has had a much more troubled life. When her fancy pants sister disappears, she takes over her life. She’s living the life of her more successful sister only to come to find out that her life is equally as fraught with danger and complication. Her sister dies in a boating accident. The other sister takes on her persona, only to come to find out that they have a hit out on her.”

OK, now that sounds interesting! Gellar will play both sisters Bridget and Siobhan. When Bridget takes over Siobhan’s life she’ll take everything including her sister’s husband and friends.

“There’s an overriding arc that the writers have kind of figured out for the first several seasons, if we get so lucky,” Traugott says. “But there’s an overriding arc in part of Bridget’s drive of trying to figure out who is trying to kill Siobhan and now her, in Siobhan’s shoes. And week in and week out we will be telling episodic stories, relationship stories, hopefully wish-fulfilling kind of stories, because she is living this kind of fantastical life all the while trying to figure out who’s after her.”

The show has been picked up by CBS, but we’re wondering if the network can do it justice. Gellar was thinking about returning to television a few years ago, and wanted to try her hand at cable because of the freedom they have. But somehow CBS opened their doors to the show and here they are. “Ringer” could be one of the crown jewels of the 2011-2012 TV season.

What do you think of Ringer? Are you interested in the premise?