Why is the Dr. Phil show ending? Legendary daytime talk show wraps up after over two decades on the air

In what has become a pretty surprising development, Phil McGraw just announced that his super popular daytime talk show Dr. Phil will officially come to an end this spring after 21 seasons on the air.

The news comes less than a year after Ellen DeGeneres bid farewell after taping final episode, another successful daytime program that fans are still mourning the loss of.

"I have been blessed with over 25 wonderful years in daytime television," reads an official statement that Dr. Phil shared with PEOPLE. "With this show, we have helped thousands of guests and millions of viewers through everything from addiction and marriage to mental wellness and raising children. This has been an incredible chapter of my life and career, but while I'm moving on from daytime, there is so much more I wish to do."

Dr. Phil was actually created by Phil alongside Oprah Winfrey in 2002 after his segments proved fairly popular on The Oprah Winfrey Show. As fans of the long-running program know well, the clinical and forensic psychologist spent time on each one of the nearly 4,000 episodes that have already aired offering life advice and discussing a variety of topics.

Back in 2018, Dr. Phil signed what has now turned into his last contract with CBS Media Ventures, which lasted five years. 

Two pieces of good news follow the announcement: first of all, CBS Media Ventures still has the option to air pre-recorded Dr. Phil episodes throughout the upcoming 2023-2024 TV season - so we might get our fair share of Phil for the next few months still.

Secondly, Dr. Phil won't completely step away from our screens in the near future. In fact, he is expected to announce a new television project that will launch some time next year.

"I am compelled to engage with a broader audience because I have grave concerns for the American family, and I am determined to help restore a clarity of purpose as well as our core values," reads his statement.

The 72-year-old TV personality has also been busy hosting two entertaining podcasts, Phil in the Blanks and Mystery & Murder: Analysis by Dr. Phil.

Devoted audience members took to social media to discuss the end of the program, some calling it a way overdue decision and others already mourning the loss of "great TV." 

"Watching Dr. Phil every morning at work has been a part of my daily routine for almost 6 years," one Twitter user wrote. "Sip my coffee and check my emails while he's on. I'm so sad. Omg." 

"Damn my man Dr. Phil," someone else commented. "Loved the show for the memes. Good run."

“Finally,” yet another user simply noted on the platform. 

The majority of folks on social media remarked on the fact that Dr. Phil is one of three celebrities announcing his retirement of sorts today. In fact, football great Tom Brady and English singer, songwriter and overall TV personality Ozzy Osbourne also just revealed their respective decisions to step away from their fields in the upcoming future.