ABC Execs Luring Rosie O'Donnell Back to THE VIEW?

Following news that The View co-hosts Sherri Shepherd and Jenny McCarthy will be departing the long-running talk show, a source tells FOX411 that ABC execs are currently in the process of brining back Rosie O'Donnell, who left the show in 2007.

"The network executives really wanted Rosie back," an insider tells the site. "They're confident she has what it takes to add some controversy and drive the ratings up. It is a smart fit."

Following her first season on the show, ABC revealed in a statement that it was unable to agree on contract terms with the comedian. In her own statement, O'Donnell, who famously exited the show following an on-air feud with co-host Elisabeth Hasselbeck, shared, "my needs for the future just didn't dovetail with what ABC was able to offer me. They wanted me three years, I wanted one year and it just didn't work," she said then. "I'm not sad - I loved it here."

ABC recently commented that "there is a lot of rumor and speculation about who will be joining the show," but no decisions have been made and the network is "not ready to make any announcements."

O'Donnell recently guest-starred on ABC Family's hit series, The Fosters as Rita Henricks, a tough yet compassionate woman who works in the foster care system and is a mentor to a member of the Foster family. O'Donnell's first appearance on January 20 helped The Fosters to garner a series high in total viewers. The actress has appeared on Broadway in 'Grease,' 'Seussical' and 'Fiddler on the Roof.'