The latest on the WWE developmental fiasco is the company is looking at opening a developmental territory in Stamford, Connecticut. They have also ended their deal with the Brighthouse Network to carry Florida Championship Wrestling in the local Tampa market.
With that being said, the word is the company will maintain their relationship with FCW and there are no plans at this time to shut down the promotion.
This is a situation where if there's smoke, there's fire and there were details that hit the Internet the company clearly didn't want getting out. While WWE officials indicated the reports were completely bogus, I can assure you that isn't the case.