11/20/2012 12:25 pm ET Updated Jan 20, 2013

'Boss' Canceled: Kelsey Grammer Series Will Not Return For Season 3, But There May Be A Movie

It's not a great week to be Kelsey Grammer: "Boss" has been canceled, according to The Hollywood Reporter.

"After much deliberation, we have made the difficult decision to not proceed with [a third season of] 'Boss,'" Starz said in a statement. "We remain proud of this award-winning show, its exceptional cast and writers, and are grateful to Kelsey Grammer, [creator] Farhad Safinia and our partners at Lionsgate TV."

Deadline reports that although Starz has not picked up "Boss" for a third season, there could be a two-hour TV movie that would give Chicago Mayor Tom Kane (Grammer) time to say goodbye. Starz and "Boss" producer Lionsgate TV are reportedly in negotiations.

"Boss" didn't boast high ratings, but had a devoted fanbase throughout its two seasons and it also earned some major accolades. Grammer won a Golden Globe earlier this year for his performance and the show also received a Best Drama nod.

Grammer will rebound quickly: He already has his next job lined up, joining Kyra Sedgwick in the ensemble cast of "Reach Me" about a football coach author's self-help book.

Earlier this week, former Playboy bunny and reality TV star Kendra Wilkinson blasted Grammer for bringing his newborn to a party at Hugh Hefner's legendary mansion.

For more on "Boss's" cancellation, head over to THR and Deadline.

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