Superman & Lois Season 3 is arguably its best season yet, but the expensive DCTV drama faces a fight for renewal that even the Man of Steel might not be able to win. However, if The CW decides not to renew the series for a fourth season, Warner Bros. Discovery should continue the series however they can.

This is the first round of cancellations and renewals under The CW's new owners Nexstar. Formerly a network primarily co-owned by Warner Bros. and CBS, The CW's new owners are, obviously, focused on making the network profitable. Thus far, only Jared Padalecki's Walker earned a renewal with its low budget, Texas flavor. His brother-from-another-series Jensen Ackles is likely gearing up to rally the "Supernatural Family" to save The Winchesters, which The CW canceled along with Kung-Fu. This means that WB series Superman & Lois and All American: Homecoming remain on-the-bubble. All American, the flagship series, also earned a renewal. Where before on The CW, any series with a DC character was almost ensured a renewal, that's not the case anymore. But, if Superman & Lois end up canceled, Warner Bros. Discovery should make sure it gets to finish its story.

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Superman & Lois' Big Budget Could Prevent a Season 4 Renewal

Superman & Lois chat about Jordan's training

Typically, for series on broadcast networks and cable, Season 3 marks a pay increase for the actors. Luckily for penny-pinchers at The CW, the next pay increase usually doesn't come until Season 5. If the budget for Superman & Lois Season 3 is palatable to The CW during this transition period, it might get one more renewal. New DC Studios boss James Gunn said Superman & Lois could continue for "one or two more seasons." Yet, the series was something they inherited from the previous regime, and the budget might still be too high at current levels. The series shouldn't take a cut, either.

Superman & Lois is the most cinematic DCTV series in years. The show's visual effects in particular could stand shoulder-to-shoulder with what viewers saw on the big screen in Black Adam. Producers could look at one of the recently canceled series for inspiration: The Winchesters boss has a contingency plan. The show isn't just looking for a new home, there is an actual backup plan. Hopefully, this inspires Warner Bros. Discovery have a plan for Superman & Lois as well. The studio could license the series to a streamer or to another network like SyFy or WB's own TNT.

With The Flash series finale on the horizon, the age of the Arrowverse or Berlanti Productions' DC Universe is at an end. It might seem to let them all go in favor of Gunn's new TV series and Matt Reeves' Penguin. However, Superman & Lois is, perhaps, DC's most universally-praised project since Christopher Nolan's second spin through Gotham. Between the WGA Strike and Superman: Legacy set to film in 2024, Tyler Hoechlin and Elizabeth Tulloch's versions of Clark Kent and Lois Lane can help carry DC fans through the next two years.

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Warner Bros. Discovery Benefits from the Superman & Lois Brand

Superman and Lois Lane flying through the air

Over 50 years ago, HBO launched as the first premium cable channel. Since then, it developed into a globally recognized brand known for excellence in programming. Warner Bros. Discovery just dropped the "HBO" brand from "HBO Max" on the rationale it would deter people from subscribing. Such a move begs the question if the new company understands the value of its brands. To that end, if the penny pinchers at Warner Bros. Discovery don't think Superman & Lois is immediately profitable, they may not see it as a worthwhile venture. This would be both incredibly short-sighted and incorrect.

Superman & Lois offers fans a satisfying story, regardless of how they feel about Henry Cavill's time in the suit. It's very new for Clark Kent and Lois Lane to be parents in live action. The added family dynamic drives excellent stories about why Superman is the greatest superhero. Tyler Hoechlin and Elizabeth Tulloch deliver astounding performances each week. For a series about invading alien spirits, colliding dimensions and other comic book staples, it's remarkably grounded. It's a show that will find passionate viewers wherever it ends up. Which is why WB should keep it going, if only to finish the story.

HBO Max was supposed to be the permanent home online for the DC Universe. Max, on the other hand, is impermanent at its core. WB will likely want to license out their series to streamers like Netflix, Amazon or FAST services. If Superman & Lois gets a Season 4, or even a two-hour special feature, to wrap up its story, the show becomes more attractive to those potential buyers. Viewers will care about these characters, so giving them a fully complete arc will only ensure that Superman & Lois continues to provide what the WB Discovery executives seem to only care about: money.

Superman and Lois debuts new episodes Tuesdays at 8 PM EDT on The CW.