Pop Goes The News — Global confirmed Thursday that it has pulled the plug on ET Canada’s New Year’s Eve at Niagara Falls after six years.

Pop Goes The News reported in September that Global’s parent company Shaw Media decided to scrap the special due to high production costs.

At the time, Niagara Falls mayor Jim Diodati dismissed the report as “not true at all” and told the Niagara Falls Review that talks with Global were ongoing.

But several Global employees confirmed to Pop Goes The News they were informed of the decision not to broadcast the show in late August.

Still, Diodati insisted to Niagara This Week that he did not receive official word from Global until Thursday.

Christine Shipton, Shaw Media senior vice president and chief creative officer, explained in a statement that “the economic model did not allow us to move forward with the event this year.”

Last year’s show, featuring Keith Urban, Nick Jonas and Shawn Mendes, reportedly cost $3 million to produce. The city and province kicked in cash as well as the Niagara Parks Commission and Niagara Casinos.

A smaller-scale concert with Canadian classic rock acts will be staged in Queen Victoria Park on Dec. 31 but will not be televised.

Diodati told Niagara media outlets that a broadcaster has already signed a multi-year agreement to produce the show beginning next year.