From a business standpoint, CW is rotten from the top down. When the merger occurred, instead of taking the obvious, experienced choice in Barry Meyer from WB, who did such a good job with WB's lineup (along with Barry Levin), Les Moonves insisted for some reason that they promote the head of his UPN, Dawn Ostroff.
Ostroff, mind you, had minimal successes in finding new programming for UPN before the merger. Most of their successes at the time like Smackdown, Enterprise, Veronica Mars, etc. had pre-dated her there. Her claim to fame was basically America's Next Top Model. Everybody hates Chris pretty much had to be forced on her from what I've heard from people who work at our affiliate in town here.
As expected her record for finding new programming since the CW merger has been absolutely terrible. Every new show they launched their first season was cancelled. Last year only Reaper, who is a midseason replacement this year (and also allegedley had to pushed down her throar), and the horrid Gossip Girl, who for some unknown reason was able to hang on, survived. Aliens in America anyone?
Her problem is that she doesnt seem to know her own Network's target demo. Three of the most successful shows, Smallville, Supernatural, and Smackdown, were all targeted at 18-49 year old male viewers, and all did very well in that demo. Smackdown is now gone for some unknown reason. Smallville has been milked to death and will likely end this year. Supernatural, which is VERY under-rated as a show, will likely follow since it gets zero promotion from the Network, and struggles on a tough ratings night.
What are they left with? They've groomed no replacement to keep the loyal Smallville audience watching after it ends. (Moonves was the one actually responsible for eighty-sixing the Aquaman series in 2006 that had over-whelmingly positive pre-screenings at WB as he "didnt want anymore superhero shows.") Half of Supernatural's audience was likely spill-over from Smallville airing before it, so I think those two go out together no matter what. And how much does even One Tree Hill have left at this point? Pretty much the WB carry-over shows from the merger, save Smackdown and ANTM, have kept the Network alive the past 2 seasons.
Even in the face of that, all Ostroff has done is go out and greenlight more of the same crap like "90210," which will die a quick death once the novelty and nostalgia wear off in a few weeks, and people realize at its core its the same show as Gossip Girl, Privileged, etc. Everything she does seems to be in the mold of ANTM and involves well to do, white females being catty with one another.