'Terra Nova' canceled by Fox

The ambitious time travel-based drama series "Terra Nova" has been canceled by Fox. Despite a great deal of hype and widely-watched first few episodes, the show never caught on the way creators expected. As a result, its first season will likely be its last, according to The Hollywood Reporter.

The dinosaur-heavy series, which debuted this fall, came from executive producer Steven Spielberg. Although it attracted an average of 7.5 million viewers during its 11-episode run, viewership faltered greatly toward the end and with several hour-long dramas slated for the coming months, it did not fit the bill.

The cancelation brings Fox's costly experiment to a close. The show had been in production for years and the much-anticipated two-hour premiere cost as much as $20 million to make. Despite its cancelation, studio officials are not disappointed.

"['Terra Nova'] was an exciting bet to take and it's proven that it was worthwhile," Fox Entertainment president Kevin Reilly told the publication.