KOAR posted weeks ago that it looked like MTV was going to cancel TRL since kids are no longer tuning in. According to sources MTV execs have officially canned TRL and fired the people responsible for its production.

MTV just canned 250 employees and the bloodbath isn’t over yet. MTV is facing the challenges of a changing society and the new frontier of the digital age.

Recent data from Nielsen media peg TRL’s viewership at 393,000, down from almost 600,000 in 2001.

Update – When MTV heard the press leak of TRL being canned, the CEO immediately responded with an open letter stating that TRL will air ‘as always’. Meaning TRL will air until they find a replacement.