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AGT to be axed?
Picture: Supplied Kyle Sandilands, Dannii Minogue and Brian McFadden

Former ratings powerhouse Australia's Got Talent was axed today, with Channel 7 deeming the reality talent search's format had become stale and too expensive after a huge slump in ratings.

The average viewership for the 2012 series of the show, which featured celebrity judges Kyle Sandilands, Brian McFadden and Dannii Minogue and host Grant Denyer, was down 688,000 to 1.144 million from the 2011 season which averaged 1.832 million.

This year's series finale, which crowned Andrew De Silva as its winner, didn't even break the million mark, with just 998,000 nationally. In comparison, the 2011 series finale saw 2.855 million tune in to watch the announcement of the 2011 winner, Jack Vidgen and was one of the year's top 10 highest rated programs.

During its six-year run, the show also discovered Mark Vincent and Justice Crew.

A Seven spokesperson confirmed the axing to thewest.com.au and said it was in negotiations with all judges about who might stay with the network, with nothing locked in.

Minogue, who is currently overseas, had been with the show since the beginning and appears to be the most likely judge to stay in a high-profile role with Seven.