It's unclear if Yahoo will continue to experiment with original programming in the future, but the chances don't look too great considering Goldman's statement.
Besides Community, Goldman also blamed Yahoo shows Sin City Saints and Other Space as contributors to the financial losses.
"We thought long and hard about it", Goldman said.
The perpetually low-rated cult series "Community" has artfully dodged cancellation for six seasons - losing a showrunner, a primetime spot on NBC and a couple key cast members in the process. The company announced at an earnings call that it will be taking a $42 million write-down in the third quarter for its video division.
In addition to Community, two other original Yahoo shows, Sin City Saints and Other Space, failed to become profitable.
The third quarter earnings for Yahoo are in, and the company fell short of its own expectations.
"So there, where we had spent money and had a few assets on our balance sheet, we elected to write those off. That actually helps us going forward and we won't have the expense to impact us going forward", Goldman said.
Community fans, share your thoughts on Yahoo's multi-billion dollar write-off in the comment section below! "We're not saying we're not going to do these at all in the future, but in three cases it didn't work as we had hoped and we made a decision to move on".
Reviving "Community" has been a costly adventure for Yahoo and might spell the end of its foray into big-budget original series. This is pretty bad news for Community fans, who have been on a bit of a rollercoaster ride since NBC initially ended the show run back in the spring of 2014.
Yahoo previously teased that it may be renewing "Community" for a seventh season, or even take part in a movie deal with the Greendale Community College gang.