Larry Wilmore's 'The Nightly Show' Canceled by Comedy Central

The show failed to gain "traction" with the audience, the network said.

In a statement, Comedy Central said, "We thank Larry and The Nightly Show staff for their tireless efforts across the past two years and the conversations the show generated by addressing social issues of great importance to the country, always challenging people’s attitudes, perceptions and bias."

In the end, however, it came down to the show's poor ratings.

"When we took a hard look -- especially after the conventions, where we also didn't see any traction we were hoping for -- we didn't have enough evidence to justify committing to another year," the executive said in the statement.

The Chris Hardwick-hosted comedy game show "@Midnight" will be bumped to an earlier 11:30 p.m. time slot until a replacement nightly show is up and running.