I think the final eulogies here might be premature. CBS has obviously slowed down their classic releases, and Cannon is probably one of the casualties of that decision. However, even Gary's sources didn't seem to be saying it was gone forever; just that the planned 4th quarter release was canceled. CBS goes back and forth among its not-exactly-bestseller titles, but most of them show up again at some point.
I'm granting you that Diagnosis: Murder is stalled (although Have Gun was revived and Diagnosis had another set come out in England...), but for the moment, I am personally labeling Cannon as "delayed". (Along with Mannix, Perry Mason, Matt Houston, and Barnaby Jones.) I do hope that the promised good news about The Fugitive is still forthcoming this year.