Marvel Television is no more.

According to Deadline, Marvel Studios is phasing out Marvel TV. The report follows a slew of cancellations and the exit of Marvel TV Head Jeph Loeb. Any Marvel TV show currently in production will reportedly be wrapped into Marvel Studios, but all other projects in development will not move forward.

RELATED: Jeph Loeb Was As Essential to Marvel's On-Screen Success As Kevin Feige

In light of this, several major executives have been laid off, including Senior Vice-President of Animation & Family Entertainment Cort Lane, Vice-President of Current Series and Development Marsha Griffin, The Punisher producer Mark Ambrose, Daredevil producer Tom Lieber and Cloak & Dagger producer Aimee Carlson. However, Senior Vice-President Current Programming and Production Karim Zreik will join Marvel Studios as part of a team that will oversee the Marvel TV projects currently in development.

Hulu's live-action Helstrom series will continue production, alongside four as-yet unspecified animated series. The last season of Agents of S.H.I.E.L.D. will also air as planned.

RELATED: Jeph Loeb Out at Marvel Television

“The decision has been made to complete Marvel TV projects that are currently in production, but not continue with any further development,” the TV division said in a statement.

Starting last year, Marvel TV's projects began to get cancelled one-by-one, starting with Netflix's Iron Fist and continuing with Luke CageDaredevilJessica Jones and The PunisherAgents of S.H.I.E.L.D. announced its final season, while Cloak & Dagger was axed and Runaways' third season was confirmed to be its last.

The move to shutter Marvel TV also follows the expansion of Marvel Studios President Kevin Feige's role at the studio. As Marvel Chief Creative Officer, he will now oversee all of Marvel's creative personnel, with all key film, TV and publishing executives reporting directly to him. This also included Marvel TV and Marvel Family Entertainment, which are both impacted by the shutdown.