'Felicity' Limits

Image credit: Felicity: Jeffrey Thurnher

SCHOOL'S OUT (From left) ''Felicity'''s Speedman, Russell, and Foley

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Cue ''Pomp and Circumstance'': Felicity will not only bid farewell to the University of New York this May, she'll also say buh-bye to prime-time TV. The WB has decided not to renew the four-year-old show for next year. ''One of the joys of the series was this coming-of-age story about Felicity Porter in college,'' says WB Entertainment president Jordan Levin. ''It's the end of her senior year. It felt like a natural place to close the story.''

Not to mention a financially prudent one. The WB is paying close to $1 million per episode for a show that averages a mere 3.3 million viewers (it used to be one of the net's top performers in young demographics). What's more, the show lost its stride when creator J.J. Abrams relinquished hands-on control of the series to create ''Alias'' for ABC. ''J.J.'s always been the voice of 'Felicity,''' Levin admits. ''There has been a ratings slip with the loss of his presence.''

''Felicity'' will return to the WB's schedule on March 20 and will wrap May 22 with a two-hour season finale -- when Levin promises Felicity (Keri Russell) will resolve her relationship issues with Noel (Scott Foley) and Ben (Scott Speedman). Come to think of it, a ménage à trois sure would make a jaw-dropping series capper.