King World Prods. has yanked the syndicated talker “Living It Up! With Ali & Jack.”King World announced Wednesday that it had decided against a second season of the morning gabfest. Despite efforts in January to rejigger the format and style of the show, “Ali & Jack” had long been on the brink of cancellation given its dismal rating performance. Show most recently received a 1.0 national household rating. “Ali & Jack” had two-year contracts with stations, including its base of CBS O&Os, but stations will be let out of the second year of the deal, a King World rep said. Production on the current season is slated to wrap May 27 with episodes continuing to air until Sept. 10.