In a Q&A session with Dan Didio, Newsarama reported that Blue Beetle is being cancelled. Here's quotage from the man himself;

"One of the books that I’m most disappointed about in that regard is a book like Blue Beetle, which we are cancelling. That’s a book that we started with very high expectations, but it lost its audience along the way. Recently, we felt that it was standing on firmer ground, and was getting a more positive response. The problem is that the firmer ground and positive response is not enough to keep the book afloat. So unfortunately, we had to cancel that series."

Suffice to say I am not best pleased. They cancel Birds of Prey, Nightwing, and Robin for all I care but Blue Beetle?

This is the most original, witty, well written books DC is putting out! And they dare cancel it because people are too blind to see how great a book it is? Not since it's launch have I never seen DC plug this book as they have others so it is their fault that it sells "poorly"

I emplore all of you, not as a friend, not even as a fellow comic book fan, but as a human being who doesn't want to see a much beloved character canned and sent to Character Limbo... Please buy the book, give Jaime Reyes a chance to show what family, friendship, heroism, and true underdog spirit can acheive if it is given the chance. Support the cause. Save The Blue Beetle!