O'Donnell made the announcement at the beginning of today's show, saying, "OK, big news, breaking news, breaking news.""I've decided that we couldn't come to terms with my deal with ABC, so next year I will not be on 'The View,'" she said apologetically.
O'Donnell said she couldn't come to an agreement with ABC, who wanted her to renew her contract for another three years, while she only wanted to sign on for one more season.
"It just didn't work," she said. "And that's showbiz, but it's not sad, because I've loved it here, and I love you guys. And I'm not going away. I'm just not going to be here every day, all right?"
Barbara Walters told today's audience that she had nothing to do with the network's negotiations with Rosie.
"I'm going to read, 'I did this and I did that,' and it brings back a lot of other things that I was accused of doing and did not do. This way not my doing or my choice."
O'Donnell will remain on the program until the end of June. She says she will guest host the program occasionally.
Walters said on "The View" that producers do no yet have a successor in mind.
"We have not thought about a replacement because we were hoping that you would come back," she said to O'Donnell. "So we're going to take a look."
Walters added, "We have had, to say the least, an interesting year."
"We certainly have!" said O'Donnell.
"We have had an exciting, fun-filled, provocative – we have all loved it, we have all gotten together," Walters said. "And you will be missed very much."
"Well, you know, thank you," O'Donnell said. "But I'll still be on my blog."
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