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The news was confirmed via a tweet on the BBC's dedicated Holby City Twitter account.
The tweet reads: "We're very sorry to bring you the sad news that Holby City will come to an end in March next year, after 23 amazing years.
"We are so very grateful to all of Holby's wonderful cast, crew, writers, producers - and to our millions of loyal viewers and fans for being part of our show."
A second tweet linked to a statement released by the BBC. The tweet says that the "tough decision" to cancel the show "reflects the BBC's commitment to make more programmes across the UK" that will "better reflect, represent and serve all parts of the country."
A statement released by the BBC said: "We are incredibly proud of Holby City but it's with great sadness that we are announcing that after 23 years, the show will end on screen in March of next year.
"Holby has been a stalwart with audiences, delighting millions of viewers each week and winning hundreds of awards with a compelling mix of cutting edge medical stories and explosive personal stories.
Holby City has been part of the BBC's evening weekday schedule since it debuted in January 1999. It will continue to air on Tuesday evenings, with the final episode set to air next March.
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