If you have not heard yet, the fall lineups have been finalized for TV networks. NBC has decided not to renew The Event for a second season. The Event, although, can still get a home on a smaller cable network or Netflix. Steven Stark, producer of The Event, has actually said that he is currently negotiating the future of The Event with another network. Although he would not reveal what network he was talking to, the ratings still need to be up for this transaction to happen. If the ratings are low, why would a network want to pay for/ produce that show.
If you are a Nielsen home, check this out right now about ratings. http://theeventfancentral.blogspot.com/2011/04/event-fanbase-project-part-2-nielesn.html