Is Smallville definitely ending in Season 7?

[Apprentice]

I've recently gotten back into it after drifting away during the third season, and have begun collecting the boxsets, but read somewhere that it's most likely ending with the seventh season. Is this true?

 

[Batgort]

That's only a speculation based on current contract obligations. We'll see what happens if Smallville starts raking in tons more money or not.