After becoming an almost immediate hit for NBC in Fall of 2006, Heroes dropped significantly in the ratings over the past couple seasons. Fans have complained about the storylines but the TV show has been one of the network’s biggest draws in the 18-49 demographic. NBC has opted to cancel it anyway.

Heroes follows a group of ordinary humans who have developed extraordinary powers that end up affecting their lives in positive and negative ways. The series’ large ensemble cast includes Adrian Pasdar, Ali Larter, Cristine Rose, Greg Grunberg, Hayden Panettiere, Jack Coleman, James Kyson Lee, Masi Oka, Milo Ventimiglia, Robert Knepper, Sendhil Ramamurthy, and Zachary Quinto.

The network had reportedly been considering three options to wrap up Heroes — a 13 episode order for mid-season, an order of four to six episodes that could be aired over a couple nights in the fall, or to just cancel the series outright.

Though Heroes still brought NBC some its better 18-49 ratings this season, the numbers just can’t justify costs with a sizable cast and special effects budget. The network has a large selection of new hour-long dramas to choose from and so, has decided to cut Heroes.

On the bright side, NBC is supposedly working on a plan to wrap up the series. Right now, it sounds like there will be a two or four hour event that will air mid-season. The details will revealed at NBC’s upfront presentation on Monday morning.

Over the past day or so, Grunberg has been tweeting and hinting that “the fat lady” was getting ready to sing. As the news broke of Heroes’ cancellation, he wrote, “I’m hearing The FAT LADY singing her ass off!!! #Heroes = Cancelled! Sad. BUT… W/bad news comes GOOD!! My Next Tweet will explain!!” Three hours later, and Grunberg still hasn’t tweeted again.

What do you think? Are you sorry to hear that Heroes has been cancelled or was it long overdue? Will you watch the wrap-up event, whenever or whatever it is?

Image courtesy NBC.