While the show had decent ratings, debuting as the highest-rated new syndicated talk show its first season in 2012-13 and drawing 2.2 million total viewers last week, according to Nielsen, many local TV stations found it too expensive to continue paying for, according to people familiar with the matter.
The show initially cost about $40 million per year to make and distribute, according to people familiar with the matter, while Ms. Couric earned about $10 million per year, according to a person familiar with the matter. The show is midway through its second season and will air through the summer.
"While production will continue on 'Katie' through June 2014, we've mutually agreed that there will not be a third season of the show," Ms. Couric and Disney DIS -0.78% -ABC said in a joint statement.
The decision comes on the heels of Ms. Couric's early exit from a separate contract she had with ABC News in November to join Yahoo.
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