According to a statement from ABC Entertainment president Channing Dungey provided to Refinery29:
"Roseanne [Barr]'s Twitter statement is abhorrent, repugnant and inconsistent with our values, and we have decided to cancel her show."
The news comes after Barr, whose sitcom revival garnered massive ratings for the network, compared Obama adviser Valerie Jarrett to an ape in a tweet. Barr deleted her racist comment, then asked for forgiveness from Twitter for making "a bad joke about her politics and her looks." Minutes later, Barr told Twitter that she was leaving the platform. Her account is still active.
The damage, apparently, was already done.
The revival was initially renewed for another season back in March. ABC, however, is officially out.