Rosie O'Donnell is Leaving 'The View'

Rosie O'Donnell confirmed Wednesday that she is leaving 'The View,' after just one year on the show. There has been rumors for quite some time that Rosie would leave the view at the end of her contract to start her own show, but this has not yet been confirmed.

"This has been an amazing experience, and one I wouldn't have traded for the world. Working with Barbara, Joy and Elisabeth has been one of the highlights of my career, but my needs for the future just didn't dovetail with what ABC was able to offer me. To all the viewers out there, I just want to say 'thank you' for opening up your hearts and your homes to me this past year. But you can always find me at rosie.com. Here's hoping there's more confetti for all of us going forward," Rosie told ABCNEWS.com.

ABC also confirms Rosie's departure, saying they have been unable to come to a contractual agreement with the "The View" co-host. As a result, her duties on the show will come to an end mid-June.

The president of daytime programming for the Disney-ABC Television Group, Brian Frons, told ABCNEWS.com, "Going in we knew we would have an amazing year with her, and that anything beyond that would be gravy. But we were willing to take the chance because we understood what a coup it was to entice Ro back to daytime television. So here we are a year later, and while we've tried to come to terms on a deal that would extend her co-hosting duties on 'The View,' we find ourselves unable to agree on some key elements."

Barbara Walters, creator and co-executive producer of "The View," said she could only be grateful to Rosie, "I induced Rosie to come back to television on 'The View' even for just one year. She has given the program new vigor, new excitement and wonderful hours of television. I can only be grateful to her for this year. I am very sad that ABC Daytime could not reach an agreement with her for a second year. We will all miss Rosie on 'The View,' and hope she will be back with us often next season. She remains for me a cherished friend and colleague."