Anderson Cooper's show will end in 2013 after receiving disappointing ratings.
Cooper's talk show, syndicated by Warner Brother's subsidiary Telepictures, was fighting against a swell of new talk shows hosted by the likes of Katie Couric, Jeff Probst and Ricki Lake, the Los Angeles Times reported.
As of October 16, the show was averaging 1.3 million viewers, a 20 percent drop from last fall, and far behind Dr. Phil's 4 million audience and 2.4 million for Katie Couric's new show, this season's most-watched newcomer, USA Today reported.
A Warner Brothers' executive who wished to remain anonymous told the New York Times that some of the stations that syndicate "Anderson Live" had begun "putting feelers out" for replacements after they were told on Friday the show would not be coming back for a third season.
After a weak debut season, the show made a series of changes that they hoped would increase ratings, including rotating guest co-hosts, switching over to a live format with a studio audience, and even moving the studio's location, the LA Times reported.
"We are extremely proud of Anderson and the show that he and the entire production team have produced," Warner Brothers said in a statement, USA Today reported.
"While we made significant changes to the format, set and produced it live in its second season, the series will not be coming back for a third season in a marketplace that has become increasingly difficult to break through. We will continue to deliver top-quality shows throughout next summer," the statement added.
Cooper, who was on location in New Jersey Monday covering Hurricane Sandy, still has "Anderson Cooper 360" and will continue contributing to "60 Minutes," E! Online reported.
"I am very proud of the work that our terrific staff has put into launching and sustaining our show for two seasons," Cooper said in a statement. "I am also grateful to Telepictures for giving me the opportunity, and indebted to viewers, who have responded so positively. I look forward to doing more great shows this season, and though I'm sorry we won't be continuing, I have truly enjoyed it."