Jennifer Lopez and Alex Rodriguez announce breakup in new statement

Jennifer Lopez and Alex Rodriguez say they are better off as friends.

The stars announced on Thursday that they are officially ending their two-year engagement. "We have realized we are better as friends and look forward to remaining so," a representative for Lopez told CNN in a statement first reported by NBC. "We will continue to work together and support each other on our shared businesses and projects. We wish the best for each other and one another's children. Out of respect for them, the only other comment we have to say is thank you to everyone who has sent kind words and support."