NEW YORK (

TheStreet

) -- The Food Network, which is owned by

Scripps Networks Interactive

(SNI)

, has decided to cancel its popular reality show

Ace of Cakes

.

The show, which debuted in 2006, follows Duff Goldman and his staff of cake artists at Charm City Cakes, a bakery in Baltimore, Md.

"Though it's incredibly bittersweet, after over 110 episodes, we think it's time to catch our breath and explore some exciting new opportunities," Goldman said in a

Charm City Cakes blog post

on Friday.

He said that production has already wrapped on the tenth and final season.

Food Network general manager and senior vice president Bob Tuschman says that the network is in the process of developing a few new show concepts for Goldman, which he mentioned in his blog.

"We will still keep you up to date on what's going on with us via our Web site, blog, Facebook, and Twitter pages," Goldman said in his blog post. "And, although we can't reveal too much yet, there are definitely plans afoot for some big things for us in the future."

Goldman reminded customers that while the show will come to an end, business at his cake shop will carry on. "For us, it continues to be 'all about the cakes,'" he said.

He also thanked the production team and fans for helping make the show a success.

Scripps is up more than 28% in the past year, and recently hit a 52-week high share price of $53.34. Shares are down slightly to $53.20 in morning trading today.

-- Written by Theresa McCabe in Boston.

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