The BBC is set to lose 'The Great British Bake Off'

The current season of “The Great British Bake Off” is set to be the last on the BBC after the UK broadcaster failed to agree a new contract for the show.

The Daily Telegraph and The Sun are reporting the collapse in talks between the BBC and Love Productions, the production company which makes and owns the show.

Business Insider reported last month that ITV has made an active attempt to poach the biggest show on British television. The commercial broadcaster appears to be the most likely destination for the programme.

In a statement released to the newspapers, Love said: “After an extraordinary six-year journey with the BBC, Love Productions announces with regret that it has been unable to reach agreement on terms to renew the commission of ‘The Great British Bake Off.’

“We will now be focusing on finding a new partner to develop the familiar show that the British public turn to in their millions. Love Productions would like to thank the BBC for the role it played in making this show such an enormous hit, and the faith they showed in us over the years to develop it.”

The BBC is yet to comment.

More follows.

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