Katie Couric's talkshow Katie has been cancelled almost as soon as it started. It has been announced that Katie will not be resumed for a third season after season two wraps up next summer.

Katie Couric
Katie Couric's Show 'katie' Will Be Cancelled After Its Second Season.

"While production will continue on 'Katie' through June 2014, we've mutually agreed that there will not be a third season of the show," reps for Couric and the show's distributor ABC Domestic Television said in a joint statement, via the NY Daily News. "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."

Though it has neither been confirmed nor denied by any representative of the show, the axing of Katie's show is said to have stemmed from a tug-of-war between the host and the show's producers. Couric was said to be gunning for a more news-driven angle for her show whilst the people behind Katie wanted it to be more grounded in gossip, according to show insiders.

Katie Couric
Problems Allegedly Arose Over The Clash Between Themes.

There is also a dispute over whether the show's ratings or economics had an impact on the axing decision. Katie's rating were acceptable, drawing an average of 2.17 million viewers as of last month, but experiencing a drop below the average of 2.26 million viewers attracted during its first season in 2012.

According to reports, Katie cost a massive $50 million to produce when it launched in 2012, falling $35 million for season two. Even after the budget fell, the show still had a great deal more financial backing than most other talkshows, which average a $20 million budget.

Kate Couric Exploring The Arts
Katie Will Move To Yahoo!.

Couric herself was paid an almighty $20 million for her two-year deal. However, she won't be short of cash when she leaves ABC: apparently she'll be taking up a new role as "Global Anchor" for Yahoo!, a source knowledgeable about the deal revealed.