The owners of the Ringling Brothers circus said Monday that shutting down the show was "a very difficult decision to make."

At a news conference Monday, members of the Feld family that own the circus discussed the closing of what was an American institution. 

The Feld family bought the Ringling circus in 1967. 

"We are sad," said Kenneth Feld, Chairman and CEO of Feld Entertainment. "It was a very difficult decision to make."

Feld added that changing times and disputes over the treatment of animals in the show added to the demise. 

"Taking the elephants out of the show had a much bigger impact on ticket sales," Feld said. "Also...let's face it. Times change, attention spans change. The family unit structure has changed."

After 146 years, the curtain is coming down on "The Greatest Show on Earth." The owner of the Ringling Bros. and Barnum & Bailey Circus announced this weekend that the show will close forever in May.

The iconic American spectacle was felled by a variety of factors, company executives say. Declining attendance combined with high operating costs, along with changing public tastes and prolonged battles with animal rights groups all contributed to its demise.

"This is not a win for animal rights activists," Feld said. "This is not a win for anyone. We stand behind the care of our animals. We always have."

The company broke the news to circus employees Saturday night after shows in Orlando and Miami.

It's an end of an era, a 146 year run many performers remember well. 

"It's like the opening day on Ringling, it was just so amazing and our act featured on the center ring," reminisced Yvonne Joanides. 

66-year-old Joanides was born into the circus. She took up unicycling and juggling after her parents. 

"Once you were on the ring it was yours, you were in control of all these people around you, it was an amazing feeling," she said. 

Joanides' parents met and married while traveling with Ringling in 1946, a thriving time unlike the shows today. 

The decision to close the circus will result in over 400 people losing their jobs. 

"Some of the services that we will be providing will include job placement, housing search support if they've been living on our train," said Feld Entertainment COO, Juliet Feld. 

As for the 100 plus animals still under the circus' care, Feld Entertainment said it will be working over the next several months to find them suitable homes. 

The end of Ringling Bros. has stunned the circus community. 

"It's a shame that they couldn't hold onto it. Unfortunately it kind of lost its charisma, it didn't have the magnitude that it did at one time," Joanides said. 

Although the found father of live entertainment is coming to an end, Joanides believes the art still has a future. 

"I don't think that it will ever die, because there are so many great performers still around and they will try to keep that flame burning," she said. "It just won't be quite the same without 'The Greatest Show on Earth.'"

Ringling Bros. has two touring circuses this season and will perform 30 shows between now and May. Stops include today in Orlando and Jan. 25-29 in Tampa.

The last show will be held May 7th in Rhode Island. 

Information from the Associated Press was used in this report.