for now, i am the bearer of sad news. sad news to me at least.
Alas, it's official. Adult Swim will not be renewing Home Movies after episode 52 debuts on Sunday, April 4. We received official confirmation the week before last (i.e. Mike Lazzo told us), but we sat on the news in order to let Brendon make the announcement himself during his recent appearance in Atlanta:
http://www.AdultSwim.com/webcam/gal_mov/brendon_interview/index.html
Ratings are what drives any decision of this nature. But I'll remind everyone that there was a time when we never dreamed we'd see more Family Guy episodes, either. Home Movies will continue to be a part of the Adult Swim experience, but for now there won't be any new episodes forthcoming.
I also know that Mike Lazzo is in continual discussion with Brendon and the folks at Soup2Nuts about the possibility of new series. We will let you know if anything happens on that front.
sniff.

re: It Cannot Be
This day will be remembered as one of the sadder days in my life. Though my history with Home Movies is still rather short, it has been, nonetheless, a great year with the show and I would never take back the time spent watching each and every episode. RIP Home Movies, you will be sorely missed. :(