The 'greatest show on earth' is coming to an end

After 146 years in the business of entertainment, the world famous

According to a statement released by Kenneth Feld, CEO of Feld Entertainment, who has been in charge of the business since the 1960s, the Ringling Bros Circus will have its final performance in May 2017.

"After much evaluation and deliberation, my family and I have made the difficult business decision that Ringling Bros and Barnum & Bailey will hold its final performances in May" read the statement.

Low ticket sales and the cost of operation are the reasons why the iconic circus will be shutting down for good.

While many people might be sad over this news, animal rights activist group PETA (People for the Ethical Treatment of Animals) is happy.

In its statement, PETA said the "heralds the end of what has been the saddest show on earth for wild animals and asks all other animal circuses to follow suit, as this is a sign of changing times."

In May 2016, the Ringling Bros Circus stopped using elephants in its shows. The circus sent its elephants to live in a conservation centre in Florida.

The Ringling Bros Circus is officially known as the Ringling Bros. and Barnum & Bailey Circus. It was created in 1919.

In 1952, the movie 'The Greatest Show On Earth' was released and it was based on the several performance acts of the travelling circus.