Fox is planning to wrap up its long-running hit series “24” after this season. While the show’s cancellation isn’t confirmed, Variety reports that a final decision will be made within the next day or two.

The key reasons behind this move are due to both a dip in ratings from previous seasons and the increasing production cost of the show.

Currently on its eighth season, “24” has been one of Fox’s flagship shows along side “American Idol” and “House” which helped launched Fox into a top rated network.

After a dubious first season averaging 8.6 million viewers and nearing cancellation, “24” was given new life and a second season to prove itself. The gamble by Fox paid off as “24” surged to new records and ended up averaging 11.73 million viewers becoming an instant hit.

Fans of the show may be glad to hear that even if “24” ends, there’s a chance Jack Bauer may return on the big screens. Executive producer Howard Gordon has previously stated that he is open on taking the drama to the big screen with recently hired Billy Ray to pen a script that will take Jack Bauer to Europe.

“My hope is to go after the eighth season,” Gordon said last year, “and Keifer and I have talked about it, and I think that’s sort of what we’re aiming for.”

“I think we came to the conclusion… and I think we’re in agreement with Fox that the only way we’re going to do a movie is after the show’s over. I don’t think a big-screen 24 works while Jack is on TV.”

Source: TV Shark