Bet Madonna is disturbed about production's ultimate cancellation (11)
I believe the answer is:
abandonment
'cancellation' is the definition.
(thesaurus)
'bet madonna is disturbed about production's ultimate' is the wordplay.
'is disturbed' indicates an anagram.
'about' means one lot of letters goes inside another.
'ultimate' suggests the final letters.
The final letter of 'production' is 'n'.
'bet'+'madonna'='betmadonna'
'betmadonna' is an anagram of 'abandonmet'.
'abandonmet' enclosing 'n' is 'ABANDONMENT'.
(Other definitions for abandonment that I've seen before include "leaving" , "Process of giving up completely" , "being neglected" , "surrender" , "Act of desertion" .)