UPDATED: Why Gilmore Girls is Ending

• May 3, 2007 07:12 PM ET
• by Michael Ausiello

In the end, they just couldn't strike a deal.

That, in a nutshell, is the reason Gilmore Girls isn't returning for an eighth season.

Multiple sources confirm that Warner Bros. recently made one final offer to Lauren Graham and Alexis Bledel that included sizeable salary bumps for both in exchange for a shortened 13-episode season. As is now obvious, that offer was rejected.

The show's cast and crew - many of whom thought an eighth season was in the bag - are said to be in a state of shock. "Everyone was pretty blindsided by this and still processing it at the moment," reports a Gilmore insider. "Talks must have broken down very, very recently because it came as one hell of a surprise."

The good news? The May 15 finale was meant to serve as either a series or season finale. And having just read the script, I can assure you that it's a satisfying conclusion to the series. As I previously teased, it brings Gilmore full circle.

Warner Bros. and the CW released this joint statement: "Announcing the final season of Gilmore Girls is truly a sad moment for everyone at The CW and Warner Bros. Television. This series helped define a network and created a fantastic, storybook world featuring some of television's most memorable, lovable characters. We thank Amy Sherman-Palladino, Dan Palladino, Dave Rosenthal, the amazing cast led by Lauren Graham and Alexis Bledel as well as the producers, writers and crew for giving us this delightful gem for the past seven years. We would also like to thank the critics and Gilmore fans for their passionate support and promise to give this series the send off it deserves."

Much more to come. In the meantime, post your eulogies below. Stay strong, guys.