Bollocks. I got into to this only recently and was looking forward to the rest of the series, which actually airs tonight in the States. However, make the most of it as there's only going to be the one series.
Quoted from Wiki
Cancellation
Since going on hiatus in February, Studio 60 was believed to be a long shot for renewal. Cancellation seemed even more likely when NBC announced they would air the show's final season 1 episodes after the crucial sweeps period. [12]
Then, on May 4, 2007, the Pittsburgh Post-Gazette reported that the Studio 60 sets were being dismantled on the Warner Bros soundstage. This, combined with earlier news, indicated that the series would almost certainly be cancelled. [13]
Finally, on May 11 the New York Times offered confirmation of the show's demise by reporting it would be cancelled when NBC announces its 2007–2008 lineup.[14]
It was officially canceled on May 14.
Also from Foxnews.com
'Studio 60': Say Goodbye to a Sure Thing
"Studio 60" is over. Some news services are reporting that the sets have been struck, others are talking about the new dramas NBC has ordered to replace last May's "sure thing."
But this much is known: On Monday, NBC will formally announce the end, thank God, of "Studio 60 on the Sunset Strip."
One of the most expensive hours in TV history, "Studio 60" was a goner even before it hit the airwaves. The ill-conceived drama about a comedy sketch show wasn't funny or tense, it was simply annoying.
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