That is how it would appear. Variety is reporting that the network is close to a deal that will have an unnamed media buyer take over the night. Essentially, they will take on the role of producing all of the content, and selling the ad time, for the entire night. The spin is that the deal will allow the network to focus its attention on Monday through Friday.

You know, because it's that sixth day that has really been holding them back. Just the other day someone told me, "I'd really like to watch Gossip Girl, but damn, I hate that CW Sunday." The idea isn't a new one for TV in general. A lot of Saturday morning programming is handled in this fashion. And when Smackdown first came to the network, it was done as a time buy with the WWE.

The article also says that the network wants to create more flow on their schedule. Something they apparently think they can achieve after Smackdown makes its exit. Ok, it is probably difficult to find the crossover between Gossip Girl, The Game, and Smackdown. Still, I fail to see how canceling one of the highest rated shows on the network, and one that does those numbers on Fridays, can do any kind of good for the overall prospects of the CW. The flow that will be created will be another really poorly rated night added to an already struggling schedule.