The future of The Shannara Chronicles is not looking so good.

The fantasy series won't be making the jump from Spike to the soon-to-be-launched Paramount Network, network president Kevin Kay told TV Guide, essentially leaving it homeless for the time being.

The Shannara Chronicles premiered on MTV in early 2016 but was moved over to Spike for its second season, which concluded in late November of last year. Spike will be re-branded as the Paramount Network on Thursday, Jan. 18, carrying over many of Spike's shows, but The Shannara Chronicles will not be one of them.

"We have officially passed on making any more," Kay told TV Guide. "Maybe [Sonar Entertainment] is going to take it somewhere else. For us, we passed on the future of that."

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Sonar Entertainment, the production studio behind the series, could potentially take the show to another network in hopes for a Season 3 pickup, but it won't be easy. With its abundance of special effects and location shooting in New Zealand, The Shannara Chronicles is on the expensive side, and the series' Season 2 ratings ended around 500,000 viewers when DVR viewing was factored in, making it tough to justify its cost.

The Shannara Chronicles was brought to life with much anticipation by Al Gough and Miles Millar, and is adapted from Terry Brooks' fantasy book series The Sword of Shannara Trilogy. Looking to capitalize on the renewed interest in fantasy TV series following the success of Game of Thrones, The Shannara Chronicles was a huge swing for MTV as it attempted to raise its profile as a scripted television network.