Something tells me that MTV may just simply be tired of spending all of this money on the same shenanigans over and over again. So instead of keeping this mess up, they just brought it to a screeching halt. Who knows, anything could have went on in the meeting.
The other scenario could be this new Starmaker show of his could be doing better and they just decided to roll with it, or they could be waiting to combine the finales for both into one big show.