According to a CBC employee on Twitter "Some local news programs will be replaced with regional, network or syndicated ones. We don't know precisely what that mean".
One of those changes includes regional weekend news for Alberta. Saskatchewan already has all their news regional, and the Maritimes already has regional late night and weekend news. Looks like CBC News will continue to a non-competitor in the ratings.
I hope when they say they are sticking with The Olympics they are talking about the one they already paid for, and don't plan to lose money on future 2 week sporting events that happen once every 2 years at the benefit of the morally corrupt IOC.