'American Idol' Cancelled: Bids Goodbye after 15th Season Next Year amid Dwindling Ratings

The iconic show "American Idol," which spawned other countless reality singing competitions, is about to end after one more season. Fox is cancelling the long-running show after its coming 15th season.

"It was not an easy decision," Fox's co-chairman and co-CEO, Gary Newman, said in a press call on Monday. "'American Idol' has been such a vital part of Fox for its run. We spent a lot of time talking to producers about the future of 'American Idol,' and collectively we all arrived at the conclusion that it was time to bring the show to an end."

"American Idol" or "Idol," as the show is fondly called, will return in January 2016 for its 15th and final season. Host Ryan Seacrest and judges Jennifer Lopez, Keith Urban and Harry Connick, Jr. will all return for the final season, which Fox promises will be a suitable send-off for the ground-breaking competition.

"We really wanted to do it in a way that felt special and celebratory and treated the show the way it deserved to be treated," Newman said. "Next year is going to be a true season-long celebration. We're already talking about surprises we can have for the fans to make it feel special and to send it off in a way that's significant as the run it's had on our network."

There have been feelers from former judges interested in making appearances during the final season. There were also suggestions to have Season 1 co-host Brian Dunklemen make an appearance as well. Simon Cowell, Paula Abdul, Randy Jackson, Ellen DeGeneres, Mariah Carey, Kara Dioguardi, Nicki Minaj and Steven Tyler are among those who have been judges over the past 14 seasons.

After official word of the cancellation broke out, Cowell responded to the news, saying, "We had a blast! Me, Paula, Randy, Ryan – and not forgetting Brian. Thanks to the fans we were able to make some great shows and found some amazing artists," he said. "Fox took a risk on a brand-new show and I want to thank them for giving us the opportunity. They really were great times."

Cowell was one of the original three judges in 2002 and he stayed until 2010, when he left to join the American version of his own show, "The X Factor." He established a reputation for harsh, real talk and established himself as arguably the show's most memorable judge of all time.

The decision to end the show was brought about by dwindling ratings. The audience for the current season has shrunk from 11.2 million for the premiere, to just 6.9 million for the last episode, according to Nielsen.

Kelly Clarkson, Carrie Underwood, Chris Daughtry, Fantasia Barrino, Adam Lambert and Jennifer Hudson are among the show's most successful alums.

Even though it is ending "Idol," Fox is developing its reality slate under new vice president of alternative entertainment, Corie Henson.