LOS ANGELES - Sherri Shepherd says she's leaving ABC's daytime talk show "The View" after seven years.
In a statement Thursday, Shepherd says that after "careful consideration" she has decided it's time to move on. She says she's looking forward to business opportunities ahead.
According to a person familiar with the situation, Shepherd was negotiating a new contract, and she and ABC failed to reach an agreement. The person wasn't authorized to discuss the matter publicly and spoke on condition of anonymity.
A request for comment from the series' network spokeswoman, Lauri Hogan, was not immediately returned.
Later in the evening, a person familiar with changes at "The View" said that Jenny McCarthy also is leaving as co-host after one season.
Shepherd, part of "The View" for seven years, and ABC could not come to terms on a new contract, according to Shepherd's manager.
McCarthy's one-year contract also was up for renewal and no deal was made, said the person who lacked authorization to comment publicly and spoke on condition of anonymity.
On her Twitter account Thursday, McCarthy posted, "If Sherri goes ... I go too."
McCarthy's publicist, PMK-BNC, did not immediately respond to a call and email seeking comment.
"The View" appears on KAKE every weekday morning at 10:00 a.m.