Katie Couric left CBS News in 2011 to launch her talk show, Katie. But after two seasons, Katie is being canceled. It will end its run in June, at the end of Season 2.

Disney/ABC and Katie announced the cancellation on December 19. "We’ve mutually agreed that there will not be a third season of the show," they said in a statement (via the New York Times). "We’re very proud of everyone’s contributions to making ‘Katie’ the No. 1 new syndicated talk show of 2012-2013, and we look forward to the rest of the season."

According to The Hollywood Reporter, Katie was the top-rated show in total households, among the programs that premiered in syndication in fall 2012, but it wasn't a hit in the target demographic of women ages 25-54.

Katie made roughly $5 million a year on her show, which was one of the most expensive series in syndication. She's now going to Yahoo! as a global anchor and THR says she'll reportedly make $6 million. Onward and upward.

However, Katie leaving the schedule means there are time slots opening between 3 and 4 p.m. on ABC-owned stations. "These are already being coveted by other shows; the stations also may opt to expand news into those time slots," THR reports. "Some stations had already chosen other shows for next fall, which is believed to have contributed to the decision to the show."

Some fans immediately took this news as a chance to beg for the return of ABC soaps All My Children and One Life to Live, and for General Hospital to get its old time back. AMC and OLTL were canceled in 2011 and ABC moved GH from its 3 p.m. spot for Katie.

Do you think ABC should use this change as an opportunity to revive its old schedule?

Sources: The Hollywood Reporter, New York Times, People, Huffington Post