Rosie O'Donnell will vacate her chair on ABC's "The View," after being unable to reach a contract agreement, the network in New York announced Wednesday.

O'Donnell, making headlines for her ongoing feud with real estate and casino mogul Donald Trump and verbal barbs directed at others, will end her one-year stint on the daytime roundtable when her contract expires in mid-June.

"Going in we knew we would have an amazing year with her," Brian Frons, president of daytime programming for the Disney-ABC Television Group, told ABC News. While the two sides tried to come to terms, he said, "We find ourselves unable to agree on some key elements."

Calling her work on "The View" a highlight, O'Donnell said her needs "just didn't dovetail with what ABC was able to offer me. To all the viewers out there, I just want to say 'thank you' for opening up your hearts and your homes to me this past year."

Barbara Walters, the show's creator and co-executive producer, said the break is amicable.

Noting she was saddened that an agreement could not be reached, Walters said in a statement, "She has given the program new vigor, new excitement and wonderful hours of television."