Daryl Somers late last night stated his production company offered the Nine Network a cost-reduced version of Hey Hey It's Saturday to air in 2000, but was rejected.
The proposal by Somers Carroll, Daryl's production company, for changes to Hey Hey It's Saturday to ensure its long-term future could not be accommodated in the network's financial restructuring program.
"Rather than compromise the show, I want it to go out on a high and celebrate what we have achieved," said Somers.
"I've had a dream run and enjoyed every minute of it. Hey Hey really has been like one big family with many boarders dropping in, that is the guests. I cannot thank enough all those people who have contributed to the show both in front of and behind the cameras over 28 years. And I must pay tribute to the viewing audience who have been so loyal to the program.
"I'm pleased to say my association with the Nine Network will continue as we have a number of other projects in development which we are discussing at the moment."