It's that time of the year when you wait to see if your favorite show has been axed by its network. On Monday, CW viewers learned that H8R, One Tree Hill, Remodeled, Ringer and The Secret Circle were all cancelled. If your favorite show wasn't one of the ones that beat the cut, fear not, because the CW has added five killer new shows (with some familiar faces) to their fall 2012 lineup.

Arrow

The Avengers box office success proves that superhero remakes are the hot new thing. The CW seems to agree because the fall will be seeing Arrow, which is based off of DC Comics superhero Green Arrow.

Arrow aims to be a modern retelling of the legendary archer's adventures, reports TV Guide. Besides being a new twist on a superhero, the show is set to star some former CW hotties. Stephen Amell is set to play the lead, Oliver Queen/Green Arrow. Amell is very familiar with the small screen. Previously starring in Heartland, Hung and Private Practice, Amell has made guest appearances on the CW's Vampire Diaries and 90210.

Katie Cassidy of CW Gossip Girl and Melrose Place fame will also be starring in the new series as Dinah Laurel Lance.

Beauty and the Beast

Beauty and the Beast has seen many remakes and adaptations over the years, and the CW is taking their own swing at it. The updated love story will star former CW sweetheart and Smallville alum Kristin Kreuk as the beauty, and Terra Nova's Jay Ryan as her beast.

The Carrie Diaries

Carrie Bradshaw is back in the CW's new show based on Candace Bushnell's novel. The highly anticipated show brings Sex and the City back to the beginning as newcomer AnnaSophia Robb stars as the young Carrie as she comes of age in the 80's. The sex, love and friendship that made up Sex and the City will be present in the new series as viewers see where Carrie started off.

Cult

Vampire Diaries fans will be pleased with the CW's new show Cult. The new series stars Matt Davis, or Alaric Saltzman to Vampire Diaries fans. According to TV Guide, the drama will focus around disappearances and murders connected to a TV show called Cult. The show also stars former CW Melrose Place star Jessica Lucas. Matt Davis plays Jeff Sefton, a journalist blogger who teams up with production assistant Sky Yarrow (Lucas) to discover who might be re-creating the crimes seen on the program in real life.

First Cut

The CW is venturing into doctor dramas with First Cut. A description on IMDB describes the plot of the show as a female medical student realizes that working as an intern in a big hospital is very much the same as being in high school.

Former Smallville star Justin Hartley (who also just happened to play the Green Arrow on the now retired series) has been cast as Will Rider, while The Good Wife's Mamie Gummer will star as the lead, Emily Barnes.

CW fans might have lost five shows this season, but the fall promises to bring some new drama.