One of MTV's breakthrough shows, "Total Request Live," will be closing its doors ten years since its debut, following year-long running rumors of its cancellation.

Putting an end to rife speculation, Dave Sirulnick, executive producer of "TRL," released a statement on Monday explaining that the music video countdown show will conclude in a two-hour special on a Saturday afternoon sometime in November.

"We want to close this era of TRL in a celebratory way, and 10 is a great number," executive producer Dave Sirulnick said, according to BBC.

Teenagers shouldn't worry too much though, because TRL's departure will coincide with the return of another musicvid-themed show hosted by Pete Wentz, "Feedback New MTV" ("FNMTV"), which channel officials say is drawing more interest from viewers and music labels than "TRL."

However, Sirulnick insisted that the show might be making a comeback at some point and is only "taking a break," but felt now was the right time to give it a rest after an unprecedented run on the cable music channel.

"We hit this 10th (anniversary) and we thought, `You know what? This feels like the right time and let's celebrate it and let's reward it. And let's let it have a little bit of a rest for a minute.' Let it catch its breath! Been working hard — for 10 years!" Sirulnick added.

With the dwelling ratings and the decreasing import of music videos on the channel, it's unlikely the show, which was once a huge draw for MTV with an average of 700,000 viewers tuning in daily, will ever be revived. Only time will tell.

"It becomes more of a mainstay and more of an institution than — pardon the pun — the new kid on the block," Sirulnick said.

Various music acts such as Britney Spears, Justin Timberlake and Backstreet Boys are thankful for having their careers helped by the show, which kicked off in 1998 as "Total Request Live" and was hosted by Carson Daly, who left in 2003. Following his departure, a revolving lineup of VJs, including Damien Fahey, LaLa Vasquez and Nick Lachey's girlfriend Vanessa Minnillo, took turns hosting.

Traditionally, "TRL" has been playing the top ten most requested videos of the day. But with today's video sharing websites, such as YouTube, few bothered to vote their favorite videos when anyone can easily watch them online for free for as many times as they please. The show airs Monday through Thursday for one hour. Most episodes are pre-recorded, which makes the word "Live" placed in the title slightly inaccurate.

And to honor the show's memory, Sirulnick is hopeful that many of the "folks who helped make `TRL' what it is — whether that's Justin (Timberlake) and his guys in N'Sync, the Backstreet Boys, Britney, Eminem — I think we would love to see all of them here," including Carson Daly.

"I'm going to miss `TRL.' ... Where else will I be able to start feuds, defend my honor vigorously and act like an angry teenager on national TV? Oh wait ... The VMAs!" Eminem, one of the show's first guests said in a statement.