It’s not everyday you see one of the major broadcast networks on American television change ownership and undergo a massive identity crisis. Last year The CW had a Thursday Bloodbath of show cancellations. One year later, and here we are again with a number of cancellations that help show where the changing network is heading.

Ever since The CW had its majority stake bought out by Nexstar Media Group, a lot of things have changed with the hope of making the network profitable. The original plan for the channel (that was equally owned by Paramount and Warner Bros. Pictures) was to split the cost on programming. Take the loss from the network’s low ratings, and make the money back up by distributing the programs in syndication and streaming to other networks. That business model has changed drastically, resulting in the cancellation of high profile shows- namely “Walker: Independence” and “The Winchesters.”

Both of the aforementioned programs are spin-offs to successful The CW series, past and present. Currently, “Walker” is one of the few scripted programs on the network still running. “The Winchesters” on the other hand is the prequel series to The CW’s former cash cow franchise “Supernatural.” Under the circumstances, you’d think that would be enough to keep them on the air, but Nexstar obviously sees a different future for their broadcast network as they court unscripted series and international television imports like “Coroner,” “Leonardo,” and “Great Chocolate Showdown.”

Other shows on The CW are either in the final seasons, also been axed, or on the bubble. “The Flash” and “Riverdale” are singing their swan songs in 2023. “Kung Fu” has also been cancelled. Basically this leaves “Walker” and “All American” as officially renewed. DC Comics-related shows “Superman & Lois” and “Gotham Knights” on the bubble, alongside the “All American” spin-off, “All American: Homecoming.” For those keeping score, that means in terms of original programming, the network has only two script shows officially running, and three that could go either way.

This mass exodus of original content is not isolated to The CW either, we’ve also reported on how cable networks TBS and TNT have also given up on scripted programming in the wake of the Warner Bros. Discovery merger. It all amounts to a massive shake-up on how content is produced and distributed thanks to a combination of cord-cutting, streaming networks, and economic instability amongst big media companies. As for where The CW finds itself in the midst of all this seems to be in a place where it’s better to air acquired programming rather than originals. Only time and ratings will tell what happens to the remnants of their original creations.