The former power couple released a joint statement exclusively to The Today Show on Thursday, announcing that they have called off their engagement. "We have realized we are better as friends and look forward to remaining so," the couple said. "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." The news of the pair's split comes after initial reports claimed the couple had already called it quits last month. A day after outlets reported Lopez and Rodriguez to be over, they released a statement saying they were merely "working through some things" and were photographed spending time together in the Dominican Republic, where Lopez is currently filming a movie.