Soap operas are in worse shape these days than the housing market.

A couple months after Guiding Light aired its final episode, CBS has officially canceled As the World Turns. It won't be renewed for the 2010-2011 broadcast season, ending a 54-year run on the network next September.

Said producer Chris Goutman of the news:

"Throughout our history, As The World Turns has remained dedicated to sharing compelling stories that have entertained fans for more than five decades. We are disappointed and saddened by the news that the show is not being renewed. It will certainly be a loss for all of us, and for the show's loyal audience."

Are you sad by this news? Surprised? Write in and share your favorite As the World Turns memories with fellow fans today!

Matt Richenthal is the Editor in Chief of TV Fanatic. Follow him on Twitter and on Google+.