Yes, this could really happen.
Pro Wrestling Sheet is reporting that the WWE and Sinclair Broadcast Group have been in talks since January with the plan being a "full takeover" of Ring Of Honor by WWE.
There is no official deal on the table at this time - they are only in discussions. But if they were to come to an agreement and the buyout did go through, then ROH shows would probably start airing on the WWE Network.
As for the ROH talent - there is no word on who the WWE would keep around were they to absorb ROH.