"Olbermann" premiered in August 2013 when he returned to the network.
"Keith is a tremendous talent who has consistently done timely, entertaining and thought-provoking work since returning to ESPN," the network said in a statement Wednesday. "While the show's content was distinctive and extremely high quality, we ultimately made a business decision to move in another direction. We wish Keith nothing but the best and trust that his skill and ability will lead him to another promising endeavour."
The 56-year-old Olbermann was a "SportsCenter" anchor on ESPN from 1992-97. He went on to work for Fox Sports (1998-01) and switched to news with MSNBC (2003-11) and Current TV (2011-12) before returning to ESPN. He also was part of NBC's NFL coverage for the 2007-09 seasons.