After 14 seasons in the ratings cellar, Fox on Wednesday announced the cancellation of the late-night sketch-comedy show that never managed to trump NBC's Saturday Night Live.

"This was a very difficult decision," said Fox programming boss Kevin Reilly, "and we would like to give our heartfelt thanks to everyone at MADtv for making us laugh for over 300 irreverent episodes."

Our hands-down faves: the holiday parodies, including Martin Scorsese's Raging Rudolph and It's the Big-Ass Pumpkin, Chuckie Brown.

MADtv debuted in 1995 in the 11 p.m. Saturday-night slot. Along the way it earned four Emmys (in 41 nominations) and served as a launchpad for Orlando Jones, Debra Wilson, Artie Lange and Michael McDonald.

Production ends in December, and Fox will air the finale in May.