Executives at U.S. TV network Fox have decided to end their long-running hit 24 after the current series, according to a new report.

Studio bosses are planning to axe the real time show, which stars Kiefer Sutherland as a federal agent, after eight seasons following a decrease in ratings and a spike in production costs.

A final decision is expected to be made in the next week, reports Variety.com.

A cancellation won't spell the end of 24 - Hollywood bosses have commissioned screenwriter Billy Ray to adapt the show for the big screen.

The film will reportedly see Sutherland in action in Europe.