George Lopez
Cast member George Lopez gestures at the premiere of "Valentine's Day" at the Grauman's Chinese theatre in Hollywood, California February 8, 2010. REUTERS

George Lopez channeled his inner Charlie Sheen on Wednesday's "Lopez Tonight," the same day TBS announced that his show would not return for a third season.

Walking into a crowd of standing ovations, extended cheers and applause, the comedian joked about his remaining minutes on television.

"Everybody hey, please settle down. I only have 'till tomorrow night," said Lopez.

The 50-year-old talk show host appeared to be in good spirits, plugging his upcoming tour with musician Carlos Santana and sharing thoughts on the country's unemployment rate.

"Did you guys see the news? Unemployment is at an all-time high and for Latinos . . . it just got a little higher," Lopez said in his opening monologue.

Lopez then compared himself to Sheen.

"Believe me. I'm fine. My goddesses . . . are a wreck. They left me. And I'm losing teeth now," said Lopez.

On Wednesday, TBS confirmed the termination of "Lopez Tonight."

"TBS has reached the difficult decision not to order a third season . . . We are proud to have partnered with George Lopez, who is an immensely talented comedian and entertainer," according to a statement released by the network.

"Lopez Tonight" premiered on TBS on Nov. 9, 2009, airing during the 11 p.m. time slot. Following the Conan O'Brien-NBC-Jay Leno fiasco, TBS moved "Lopez Tonight" to midnight, making room for "Conan," which first aired on Nov. 8, 2010.

The time slot switch dropped Lopez's viewership from 911,000 in the first season to 543,000 in the second, Entertainment Weekly reports.

On Wednesday's episode, Lopez assured his viewers he won't be going far when the show ends.

"We're not saying goodbye. We're saying . . . cable doesn't work."

Eva Longoria, Benjamin Bratt, Ron Artest, Slash and Russell Peters are all scheduled to appear on the finale.

The final episode of "Lopez Tonight" airs Thursday on TBS.