By Lynette Rice
Updated December 19, 2013 at 10:06 PM EST

Katie Couric’s talk show won’t go beyond this season, Disney-ABC announced today.

“While production will continue on Katie through June 2014, we’ve mutually agreed that there will not be a third season of the show,” according to 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.”

The show will end its second season in May.

In 2012, Katie took over the General Hospital time slot on the ABC stations. Though its household numbers are decent, the show has become cost-prohibitive. Deadline reports the budget exceeds $30 million a year. The show also suffered when it lost Executive Producer Jeff Zucker to CNN.

Last month, Yahoo announced that Couric will join Yahoo News as a Global Anchor beginning in 2014.