ABC Cancels Katie Couric Talk Show

katie couric

Katie Couric's ABC talk show 'Katie' has been canceled after just two seasons and will go off the air in six months.

Katie and Disney-ABC released a joint statement, “While production will continue on 'Katie' through June 2014, we've mutually agreed that there will not be a third season of the show. 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.”

The downfall of the show wasn't so much the ratings as it was the cost to keep the show running. Reports suggest that it cost upwards of $50 million to produce after it's 2012 launch. During the second year the annual budget went down to $35 million and that included Katie's wages.

Couric, anticipating the demise of 'Katie,' recently took a job with Yahoo! as a global anchor. The television veteran will be reporting on live world events and will anchor a series of groundbreaking interviews.

She'll earn $6 million a year at Yahoo!, a far cry from the $20 million that she was raking in during her two year talk show gig.

Katie tweeted a note to her fans:

katie couric tweet

Katie announced her engagement this past summer to financier John Molner, her boyfriend of two years. They will reportedly tie the knot sometime in 2014.

katie and her fiance john

Couric has two daughters, Ellie, 22, and Carrie, 17.  Their father, lawyer Jay Monahan, died of colon cancer in 1998 at the age of 42.

Photo Credit: WENN