'The View' shakeup: Sherri Shepherd, Jenny McCarthy fired [UPDATED]

the-view-sherri-shepherd-jenny-mccarthy-fired.jpg "The View" panel is about to look very different: According to new reports, both Sherri Shepherd and Jenny McCarthy have been fired as hosts of the ABC daytime talk show.

According to TMZ, at a late Thursday meeting network brass announced that Shepherd was fired, and sources tell the site that McCarthy and executive producer Bill Geddie are probably out as well. Whoopi Goldberg will remain on the panel.

TMZ reports that potential replacements include Ross Matthews and Jesse Palmer.

ABC had not responded to Zap2it's request for comment at press time.

UPDATE 9:15 p.m. ET: ABC released a statement to Broadcasting & Cable."'The View' will be moving in an exciting new direction next season and ABC has made decisions to evolve the show creatively," the network says in a statement.

Says Shepherd in a statement, "It's been seven wonderful years on 'The View' and after careful consideration it is time for me to move on. I am extremely grateful to Barbara Walters and Bill Geddie for giving me the opportunity. I look forward to the business opportunities that lay ahead for me and I am incredibly grateful to my View family and my fans for supporting me on this journey."

UPDATE midnight ET
: Jenny McCarthy tweets, "If Sherri goes... I go too. #sisters" and "My View will be changing too. As will with many hard working folks. Thanks to everyone at the show for your dedication and an amazing year."
Photo/Video credit: ABC