According to the trade paper, series creator Joss Whedon was told of the decision to cancel the popular, but expensive, special effects-laden show Thursday night.
Since "Buffy the Vampire Slayer" ended its run on UPN last May, its WB spin-off, "Angel," has proven a safe haven for a few "Buffy" cast members, as well as its legions of loyal fans.
Variety noted that although "Angel" performed well, WB executives are also facing an aging schedule -- with several WB series potentially facing final seasons next year -- and a need to make room for new programs.
"I know this will make lots of fans unhappy, but we have to have more at-bats, and we need to create timeslots where we can repeat shows (the same week episodes premiere,)" said WB executive Jordan Levin.
"This isn't about the WB bailing out on one of its top shows, the show had a loyal core following, but it didn't have a tremendous amount of new audience upside."