Ratings juggernaut “Canadian Idol” proved to be no match for the crumbling economy.

The reality show will not be produced in 2009, CTV announced Tuesday.

With advertising revenues expected to drop sharply next year, the network cited the “economic climate” as the reason for putting the singing showcase on hiatus.

CTV still retains the rights to the series and says it plans to bring the show back the following season.

“Canadian Idol” pulled in an average of 1.47 million viewers in September.

Its American counterpart is also cutting costs by cancelling its annual “American Idol Gives Back” fundraiser.

However, the show will be back for an eighth season Jan. 13.






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