'Shannara Chronicles' Canceled by Spike After Two Seasons

"Shannara Chronicles" has been officially canceled by Spike.

The fantasy series will no longer have a third season on the network, reports confirmed. Based on the book series by Terry Brooks, "Shannara Chronicles" first aired on MTV before moving to Spike ahead of season 2.

Put together by Al Gough and Miles Millar, the series starred Austin Butler (Wil), Ivana Baquero (Eretria), Manu Bennett (Allanon), Aaron Jakubenko (Ander) and Marcus Vanco (Bandon) and added Vanessa Morgan (Lyria), Malese Jow (Mareth), Gentry White (Garet), Caroline Chikezie (Queen Tamlin) and Desmond Chiam (General Riga).

Bleeding Cool notes the second season wrapped up with a bit of a cliffhanger. Wil's fate is left up in the air, which led fans to speculate that a third installment is not far from possible. Netflix has already acquired the SVOD rights to the series, which could make the process of selling the show more interesting.

Since "Shannara Chronicles" has already bounced from one network to another during its run, there is a huge chance that it will end up on any other channel owned by Viacom. Production company Sonar had actually begun discussing terms with potential buyers even before news of the cancellation was made public.

According to Cinemablend, it is not just TV rights that Sonar is trying to sell. If any party is interested, the "Shannara Chronicles'" feature film rights are also up for grabs, as well as the merchandising and interactive rights.

With the interactive rights, any company can create virtual reality or augmented reality projects involving the franchise. A larger multimedia franchise within the "Shannara Chronicles" also awaits any potential buyer, but someone just has to bring the right amount of money to it.

Producers are currently finding a new home network for "Shannara Chronicles." Further details about the show's future have yet to be revealed.

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