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It's a sad day for fans of peace, love, folk, and for the citizens of New Zealand as Bret McKenzie and Jemaine Clement along with co-creator James Bobin announced that there will not be a third season of Flight of the Conchords.  While the group had remained silent if not unenthusiastic about the possibility of a third season, it looks like they've decided to move on.  Here's the official depressing news from their official website:

Bret, Jemaine and James (co-creator/director) said "we've noticed the less we say about the future of the show, the more people want to talk about it, so in an effort to reverse this trend we are today announcing that we won't be returning for a 3rd season. We're very proud of the two seasons we made and we like the way the show ended. We'd like to thank everyone who helped make the show and also everyone who watched it. While the characters Bret and Jemaine will no longer be around, the real Bret and Jemaine will continue to exist.

I imagine this will seriously hurt New Zealand tourism despite their great advertisements as seen on the wall of Murray Hewitt (Rhys Darby).  It also hurts the many fans of the show.  However, I suppose since the real Bret and Jemaine still exist we can at least hope for more albums from the duo.