However, a BBC Three spokeswoman denied that the sketch show starring Gavin & Stacey stars James Corden and Mathew Horne had been permanently axed.
She said that such reports were "not the case" and explained that a new series "would not be feasible" at present due to the actors' other commitments.
The first series of Horne & Corden opened with a record-breaking 817,000 viewers but was poorly-received by the critics and ended with figures of 434,000.
A TV source told the Daily Mail: "Both James and Matt were devastated by the critical panning for Horne & Corden.
"They were on such a high from the success of Gavin & Stacey that it seemed natural to capitalise on that and make a sketch show. But they ended up taking on too many jobs together, like the Brit Awards, which was a disaster."
Earlier this year, Corden said that he wanted a break from Horne to work on other projects.