Katie Couric's syndicated television talk show has been canceled.
Disney/ABC Television and Couric jointly announced the move Thursday afternoon.
"While production will continue on “Katie” through June 2014, we’ve mutually agreed that there will not be a third season of the show," the two parties said in a joint statement. "We’re very proud of everyone’s contributions to making Katie the #1 new syndicated talk show of 2012-2013, and we look forward to the rest of the season."
Ratings have been soft for the show, which launched in September 2012. It became a disappointment for the celebrated journalist, the Walt Disney Co., which co-produced the show, and television stations that agreed to pay hefty fees to license it. Stations had been under contract to broadcast the show through next summer.
Despite a marquee time slot and plenty of publicity, Couric was unable to attract younger viewers that advertisers pay a premium to reach. The show -- which held its own in the ratings when compared to other new shows -- became something of sore point among stations that were footing much of the bill. The show's producers, including Couric, reportedly received as much as $20 million a year to produce the show.
In the end, the decision to pull the plug was largely based on economics.
The handwriting has been on the wall particularly since last month, when Yahoo! hired Couric, 56, as its "global anchor." The Internet company is looking to boost its credentials as a news organization.