By Lynette Rice
Updated November 12, 2008 at 12:00 PM EST

So long, MADtv. A Fox spokesperson has confirmed a Defamer report that the network will cancel the late-night series at the end of the season. Originally inspired by MAD magazine, the variety show has managed to last 14 years on Fox’s Saturday night lineup, but it never managed to eclipse NBC mainstay Saturday Night Live in the ratings or the zeitgeist. Still, the sketch show — which has averaged 2.62 million viewers this season — has created some memorable moments, including Keegan-Michael Key’s impersonations of Barack Obama and the lovable Coach Hines, and Bobby Lee’s turns as a fictitious movie reviewer named Johnny Gan and a blind Kung Fu master. Favorite guests on the show have included Susan Sarandon and Jeff Probst. Tennis champ Serena Williams will appear this weekend.