HBO may not be interested in pursuing the series anymore.
HBO's Watchmen took the world by storm and was able to create an almost cult-like following in a matter of a few episodes. The brilliantly written story, the presence of alternate dimensions, alternate history, and the superb performances made the show one of the most-watched in HBO's history. And yet, the fans of Watchmen could be in for some bad news as the show may not be renewed for another season.
As reported by USA Today, Casey Bloys, HBO's Programming Chief, told them in an interview that it is upto Damon Lindelof, the creator of the show if he wants to do another season. Damon, on the other hand, has stepped back from the series and had told USA Today that he wanted to tell a story, which he did, and he is not interested in it anymore. He also revealed that he has given HBO his blessings should they decide to pursue another season with another writer-producer.
Bloys told USA Today, "It's really in Damon’s thinking about what he wants to do. If there's an idea that excited him about another season, another installment, maybe like a 'Fargo,' 'True Detective' (anthology) take on it, or if he wants to do something different altogether. We’re very proud of 'Watchmen,' but what I’m most interested in what Damon wants to do."
As it stands, therefore, the future of the series looks bleak and even if HBO does go ahead with another team of writers and producers, it may not have the same impact as this one did.