It is that time of year again when favorite TV shows bring us highly anticipated season finales while the networks decide what TV series to keep or cut as new pilots are scheduled into programming.

Latin Post previously reported TV shows that will be renewed. ABC plans to renew "Secrets & Lies," "Nashville," "The Middle," "Grey's Anatomy," "Fresh Off the Boat," "Scandal," "Modern Family," "Agents of S.H.I.E.L.D." and "Last Man Standing."

CBS' popular "Criminal Minds," "CSI: Cyber," "The Good Wife," "NCIS," "NCIS: Los Angeles," "Persons of Interest, and "The Odd Couple" will also be renewed.

Fox is renewing "Empire," "Gotham" and "New Girls."

Brace yourself: E! News reports the following television shows will be canceled.

ABC TV Shows Canceled

"Revenge" will be canceled, however, a shortened final season could reach the 100-episode marker.

"Forever"

"Galavant"

"American Crime"

"Cristela"

The CW TV Shows Canceled

"The Messengers"

Fox TV Shows Canceled

"The Mindy Project"

"The Following"

"Backstrom"

"Weird Loners"

NBC TV Shows Canceled

"Marry Me"

"About a Boy"

"Constantine"

"State of Affairs"

"One Big Happy"

"American Odyssey"

CBS TV Shows Canceled

"Battle Creek"

"CSI"

"Hawaii Five-0"

"Stalker"

While it may be difficult to bid farewell to your favorite shows, the networks are promising big things come fall.

The Business Insider reports that the broadcast networks are already unveiling their new series for the 2015-2016 seasons during an annual event called Upfronts.

This year's new shows will feature familiar actors, including John Stamos, Rob Lowe and Neil Patrick Harris. The Muppets will also the returning to the TV lineup.

A couple of the new shows will be inspired by films, such as Fox's "Minority Report" and ABC's "Uncle Buck." CBS's "Supergirl" and The CW's "DC's Legends of Tomorrow" will add to the comics-inspired shows.