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When the network started moving ahead with a Flash series, the Wonder Woman series started to lose momentum (see "Flash Origin in 'Arrow'"), and has now been declared dead in that form at the CW by network president Mark Pedowitz at the Television Critics Association’s winter press tour.
New Warner Bros. CEO Kevin Tsujihara wants to find a way to use the character (see "Warners Has 'Huge Plans' for 'Other DC Properties'"), but it looks like it’s going to take a different idea than the prequel concept that was being developed at the CW.
NBC also had a Wonder Woman series in development back in 2011; that series is also dead (see "NBC Dumps 'Wonder Woman'").