"Community" was cancelled last year by NBC after five seasons but it was revived for a 13-episode sixth season by Yahoo.
McHale, 43, said the contracts of all the stars have ended and show is now unaffordable for the makers, reported Variety.
"All of our contracts were up after six years. All the actors on the show, almost without exception - their stock has risen significantly and it's out of the pay rate that is affordable to make the show," he said.
A rep for Sony Pictures TV, which produces the comedy, said "Community" has yet to be officially cancelled.
"We've seen tremendous value in our partnership with Sony and are continuing to discuss future opportunities for 'Community'," Yahoo said in a statement.
"Community" co-star Ken Jeong said he was "completely in the dark" about the fate of the show but he is holding out hope for the movie that fans have long sought as part of the "six seasons and a movie" pledge for the offbeat ensembler.
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