It's official: Walker will not be renewed for a fifth season by The CW.



“We want to thank the entire cast, crew, writers, directors and producers of Walker for their hard work and dedication over four incredible seasons,” the network said in a statement. “We also want to give a special thanks to star and executive producer Jared Padalecki, who has been a member of The CW family for over 20 years and was integral to some of the biggest hits on the network.”



Last week it was reported that the sets for Walker were being dismantled because the prospects for renewal were poor. Lead actor and executive producer Padalecki, who starred on the WB/CW hit Supernatural for 15 seasons before moving to Walker, shared the news of the series' official cancellation with fans.

“It’s a tough piece of news to be sure, but we are SO thankful for the #WalkerFamily that has been built, both on set and off,” he wrote on IG. “I will forever smile on the years I got to spend with the cast and crew and studio and network and fandom that made this all possible. Til we ride again.” (You can see his post below.)

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Under normal circumstances, renewing Walker for a fifth season would have been a no-brainer — it's The CW's most-watched series. Still, there had to be a price tag for producer CBS Studios to bring back the series.

As reported last month, Walker could not continue without a significant increase in licensing fees, which are currently believed to be $500,000-$550,000 per episode, the lowest of The CW's three remaining dramas, which also include the All American (2018) duo, and a fraction of what an average broadcast drama costs to produce.

Seeking profitability while also spending heavily on sports, The CW has cut back on entertainment programming by relying largely on low-budget acquisitions and co-productions. Ultimately, the network made no move to keep Walker, the last series from former co-parent CBS Studios on The CW, in which CBS and Warner Bros. remain minority owners.

The decisions regarding Warner Bros.' two All American (2018) series. TV are pending, with the offshoot All American: Homecoming more unlikely to go ahead.

The next original episode of Walker airs on Wednesday, May 29, with the season and series finale on June 26.

A retelling of the hit CBS drama Walker, Texas Ranger, Walker centers on Cordell Walker (Padalecki), a widower and father of two with his own moral code who returns to Austin after two years undercover, only to to discover that we have to work even harder at home.

In addition to Padalecki, the cast includes Ashley Reyes, Keegan Allen, Violet Brinson, Molly Hagan, Kale Culley, Coby Bell, Jeff Pierre, Mitch Pileggi and Odette Annable.

Walker was written and produced by Anna Fricke, and produced by Dan Lin, Lindsey Liberatore, Padalecki, Steve Robin and Russel Friend. The series comes from CBS Studios in collaboration with Rideback.