Paramount+ has opted not to renew Frasier for a third season. Producer CBS Studios remains committed to the series and will it to other outlets.

Frasier’s future uncertain as Kelsey Grammer revival canceled by Paramount after two seasons - CBS Studios is shopping the sitcom revival’s third season to other outlets

Well, folks, Frasier has left the building… the Paramount+ building, that is. Halfway into January, and two months after the Kelsey Grammer-led revival finished its second season, it’s been reported that the streamer will not be bringing the sitcom back for Season 3.