Affliction has been trying to take EliteXC's deal with CBS for a long time now, and there is now an opening for them to step in if CBS is still interested in airing mixed martial arts.
The financial problems for them would be similar to EliteXC. They lost millions on their first show, and have the daunting task of needing to break even by show three. I don't see how it's possible, and it's certainly not possible running shows on CBS for paltry fees at large losses. The only way it could work is if CBS bought Affliction the way it was planning to buy EliteXC.
CBS had interest in Affliction a few weeks ago, so if no deal is done it suggests that CBS has soured on the sport as a whole. This could be a watershed moment for the sport, because we are not going to see any new companies starting up in the next year.
The best outcome for fighters would be CBS purchasing Affliction and signing a number of EliteXC fighters to fight on their shows.