Bad news, Shannara fans; The Shannara Chronicles appears to be over.
The series won't be surviving the transition from Spike TV to the newly-launched Paramount Network. At the TCA winter press tour, Paramount Network head Kevin Kay confirmed the news, saying (via TV Guide) that the network had nixed a possible Season 3 for the show: "We have officially passed on making any more."
The Shannara Chronicles first aired on MTV before making the switch to Spike TV in its second season. Now that Spike is being rebranded under the Paramount banner, however, it seems the new network is not electing to pick up the series, even though several others will be renewed.
Kay made a point to confirm that Shannara's production company, Sonar Entertainment, could very well begin shopping the series around to other networks in anticipation of being picked up elsewhere. That may be easier said than done, considering the show's high production budget and cost of shooting on location in New Zealand, especially when weighed against its lower ratings in Season 2.
For now, at least, The Shannara Chronicles is coming to an end.