SHREK THE MUSICAL is to be scrapped just a year after the big budget production made its Broadway debut.
The show, based on the popular animated film series, opened in New York last December (08) and cost a reported $24 million (£16 million) to stage.
But following mediocre reviews and dwindling audience numbers, theatre bosses have decided to shut the production down.
The musical will close on 3 January (09) after the holiday season.
Jeffrey Katzenberg, CEO of DreamWorks, the film studio behind the movie franchise, admits he is disappointed by the news - but hopes the show will go on to make more money from a nationwide tour.
He tells Variety, "We were hopeful that the show would have a longer run on Broadway. But we believe it will continue to create financial value for the company and deliver profits beyond our initial investment."
Shrek the Musical will begin a U.S.-wide theatre tour in Chicago, Illinois in July (10).