4 DC shows that definitely won't be back
The Penguin
Fear not! The Penguin hasn't been pulled from broadcast in the midst of its run. It will air the rest of its eight episode first season on both HBO and the Max streaming service. But that's all that it will air, because the show will not be returning for a second season. At least not in the foreseeable.
The Penguin is widely billed as a miniseries, meaning that it's only built to last for one season. And let's also not forget the fact that it's built to bridge the gap between 2022's The Batman and its upcoming 2026 sequel The Batman - Part II, highlighting how Oz Cobb takes over an empire to become the infamous Penguin that DC Comics fans know him to be. Once it serves that purpose, his story will likely continue in the Batman sequel.
From a story standpoint, just doing one season makes sense. After all, we know we'll see the character again soon, so it wouldn't be feasible to expand his story further before the 2026 film comes out. That's not to say that it couldn't be revived for a second season after The Batman - Part II is released (perhaps to build towards the third movie in the trilogy), but that's probably unlikely at this point.
As proud as Colin Farrell is of the series, he was very vocal about how difficult it was to wear that suit for lengthy periods of time, so outside of any movie returns to Matt Reeves' The Batman movies, we probably shouldn't expect to see The Penguin in any other projects for now.