Rosie Perez tearfully announces she is leaving 'The View' on Wednesday's show

NEW YORK, July 8 (UPI) -- Rosie Perez dissolved into tears as she confirmed media reports stating she is leaving The View next month after only one season as a co-host.

"Our friend Rosie Perez has decided to leave the show to pursue full time her love for acting," Deadline quoted executive producer Bill Wolff as telling staff in an email Tuesday afternoon.

Perez's last day will be Aug. 6, the show's Season 18 finale, the online report said.

Rumors have been swirling that Perez and her fellow, freshman panelist Nicolle Wallace would not be returning when the show starts taping again in the fall. Wallace's future with the program remains uncertain.

Longtime moderator Whoopi Goldberg and Raven-Symoné, who was promoted from frequent guest host to permanent panelist last month, will be back next season.

Perez wept as she took the stage at Wednesday morning's taping of the daytime chat program.

"This is yours to do," a clearly emotional Goldberg told Perez. "So, you go ahead and do it."

"You guys all heard it," Perez said, her voice shaking.

"I've decided that it's time to move on and I will say that today is very bittersweet for me. I am excited for what is to come, but I am so sad to leave The View, the staff, the producers, ABC and, especially, these two ladies," she said, gesturing to Wallace, who had tears streaming down her own cheeks, and to Goldberg, who silently sat at the head of the table.

"I want to thank you for your friendship, Nicolle, and your intelligence and your wit and your sunshine. Whoopi, I want to thank you for everything -- your guidance, your professionalism and, most of all, your friendship. It's a dream sitting here with you. You are truly the captain of this ship," she continued. "Just know that I do not have one regret for coming to this show. I would do it all over again and it's all because of you, the fans. ... I will be back as a friend of this show, but it's just time to go."

Perez said she plans to continue her activism work and performing in the Broadway play Fish in the Dark, as well as in films.