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The decision to cancel 'Talking Smack' as a weekly broadcast on the WWE Network was that of solely of Vince McMahon, according to Sports Illustrated.
Vince McMahon reportedly felt that the unscripted style of the show was not in the company’s best interests, not due to low viewership as has been reported elsewhere. McMahon has a history of not liking shows on the Network which aren't planned or scripted, for example, the reason we haven't seen a Podcast hosted by Steve Austin on the WWE Network in a year is because McMahon felt Austin was being too "real" for the company.
The report also notes that McMahon hasn't been at all of the recent WWE television tapings in recent weeks but still remains in full control of every broadcast. Triple H, Stephanie, and Kevin Dunn constantly keep him abreast of what's happening on Raw, while Brian James and Michaels Hayes keep him updated on SmackDown Live.
McMahon was at last week's SmackDown TV taping and was not at all happy with Talking Smack and from there made the decision to cancel the weekly broadcast to the shock of viewers and the show host Renee Young who reportedly found out on Twitter.