The Bit on the Side presenter, who won Celebrity Big Brother in January 2013, shared a statement on his Twitter account, saying that he is "saddened" by this development but adding that he is determined to make the final series (which starts tonight) on the broadcaster "the best yet".
"After 6 years working on one of the most iconic shows on television, I'm saddened to hear the news Big Brother won't be returning," he wrote. "It has been the biggest privilege being a housemate, a winner, and a host on my favourite show on the television.
"To work with Emma [Willis], Marcus [Bentley], and the amazing team on BOTS every day and have made friends for life, I'm truly the luckiest guy in the industry.
"I hope one day Big Brother will return, but my focus now as with the rest of the team is to make our last series the best yet.
"I'd like to thank all of our guests, housemates, and teams from over the years, Endemol, and Channel 5 for having me, and most of all the viewers for sharing this amazing journey. I learned how to host a show on the job here, and I'll be forever grateful for the opportunity."
Channel 5 paid tribute to Rylan, Emma, Marcus, and production company Endemol Shine in its own statement, while Endemol suggesting that the franchise may continue in some form elsewhere.
"Whilst disappointed not to reach an agreement with Channel 5, the decision opens up a new chapter and we are excited about future possibilities for Big Brother in the UK," Endemol said.
Channel 5 and Endemol had been in talks about the future of Big Brother and Celebrity Big Brother for many months, as their current deal which expires at the end of 2018 was coming to an end.
Big Brother's launch night airs tonight on Channel 5 at 9pm.
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