KILLJOY! Suffering from a sudden case of frozen tootsies, STEDMAN GRAHAM just told OPRAH WINFREY he’s backing out of the hundred million$$ deal his betrothed offered him to stage their upcoming wedding on her OWN network!

Said a close Stedman pal: “He wanted to do everything he could to help Oprah’s ratings battle, but now he just can’t find it in himself to make his private life so public! And money was never the reason he’d agreed – Stedman’s a multimillionaire in his own right. But he’s a very private person, and the thought of exposing himself and his emotions in front of millions of people finally got to him…he just couldn’t go through with it! Marriage to Oprah is what he’s wanted for years, but the idea of doing it on TV for ratings just turns him off.”

Oprah was NOT thrilled when Stedman told her his decision, said the source, but graciously agreed to respect it. Stay tuned. To OWN. For Oprah’s sake!