The WB pulls the plug on ''Felicity''

Cue ”Pomp and Circumstance”: Felicity will not only bid farewell to the University of New York this May, she’ll also say buh-bye to prime-time TV. The WB has decided not to renew the four-year-old show for next year. ”One of the joys of the series was this coming-of-age story about Felicity Porter in college,” says WB Entertainment president Jordan Levin. ”It’s the end of her senior year. It felt like a natural place to close the story.”

Not to mention a financially prudent one. The WB is paying close to $1 million per episode for a show that averages a mere 3.3 million viewers (it used to be one of the net’s top performers in young demographics). What’s more, the show lost its stride when creator J.J. Abrams relinquished hands-on control of the series to create ”Alias” for ABC. ”J.J.’s always been the voice of ‘Felicity,”’ Levin admits. ”There has been a ratings slip with the loss of his presence.”

”Felicity” will return to the WB’s schedule on March 20 and will wrap May 22 with a two-hour season finale — when Levin promises Felicity (Keri Russell) will resolve her relationship issues with Noel (Scott Foley) and Ben (Scott Speedman). Come to think of it, a ménage à trois sure would make a jaw-dropping series capper.