Final episode of ‘O.C.’ scheduled for Feb. 22

“The O.C.,” the once-hot teenage soap opera that saw its ratings plummet like a delinquent student’s grades, has been canceled.

The final episode, airing Feb. 22 on Fox, “will deliver real closure to the series, to the story we began telling four years ago,” series creator Josh Schwartz said in a statement.

Based in the affluent Orange County, Calif., city of Newport Beach, “The O.C.” caught fire in its first season, 2003-04, attracting a total audience of nearly 10 million and reigning as the top-rated drama among advertiser-favored young adults. Cast members Adam Brody, Rachel Bilson and Mischa Barton became fan and tabloid favorites.

But the series didn’t sustain its momentum, dropping to about 7 million weekly viewers during 2004-05 and then to fewer than 6 million last season. This year, returning in November after Fox wrapped its postseason baseball coverage, “The O.C.” has drawn only about 4 million viewers.

Mullally silenced

Karen Walker would have a few choice words about this: Megan Mullally’s syndicated talk-variety show is finished after less than five months.

The low-rated “The Megan Mullally Show” has been canceled, and production has been halted. Original and repeat episodes of the show, which debuted last September, will air through January.

Mullally was an audience favorite as the spoiled socialite Karen on “Will & Grace,” NBC’s long-running sitcom that wrapped last May after eight years. But that popularity failed to convert to talk-show strength, with her new show drawing just over 1 million daily viewers.

By comparison, “The Oprah Winfrey Show,” the top syndicated talk show, is watched by about 8 million viewers.

Game still on

Let the games continue: “Wheel of Fortune” and “Jeopardy!” will be airing through at least 2011-12.

Whether “Wheel” personalities Pat Sajak and Vanna White and “Jeopardy!” host Alex Trebek have job security into the next decade was unclear: CBS Television Distribution said it does not comment on talent contracts.

“Wheel of Fortune,” in its 24th season, draws more than 46 million viewers weekly and consistently has ranked as the top-rated syndicated show, CBS said.

“Jeopardy!” is in its 23rd season, is seen by more than 37 million viewers a week and is among syndication’s top three shows.