Susan Lucci 'Blindsided' by 'All My Children' Cancellation

Actress and author Susan Lucci sat down with ET's Nancy O'Dell, telling of how she found out about the shocking cancellation of "All My Children," which will conclude its historic TV run in September.

"I was blindsided," said Susan. "I had many good reasons not to see it coming."

The woman made famous by playing Erica Kane revealed that she had seen a favorable financial report for the show not long before receiving the bad news.

Never the less, the decision to can the long-running soap-opera may have come down to the numbers. The actress disclosed that the program intended to replace "All My Children" is "a reality show that would cost 40-percent less to produce."

In April, ABC announced the cancellation of two staples of television: "All My Children" and "One Life to Live." Both shows have been on the air for over 40 years and have launched numerous careers including those of Ryan Phillippe and Kelly Ripa. In the early nineties, Ryan guest-starred on "One Life to Live" while Kelly got her start playing Hayley Vaughan Santos on "All My Children."

Susan broke down in front of our cameras, explaining how hard the cast and crew have continued to work on making quality episodes even as the show's exit approaches.

"Everybody does their best work because that's who these people are," Susan gushed. "I'm so proud to be part of such a company."

The Emmy winner's new book All My Life: A Memoir is available now.