The Wall Street Journal has reported that the CW network may soon be up for sale. One possible buyer is Nxstar, which owns nearly 200 TV stations. Nexstar is one of the largest owners of the CW stations.
The future of the CW is unclear
The CW is home to many popular DC shows including “The Flash,” “Batwoman,” and “Superman & Lois,” along with other shows like “Riverdale.” The news comes as a prior report confirming that CW, which is a joint collaboration between CBS and WarnerMedia has not been profitable since 2006.
Moreover, the lack of profitability is tied to Warner and ViacomCBS’ renegotiating international broadcast rights for CW shows. Each of these companies wanted to move the shows onto their own streaming services. HBO Max and Paramount+. The CW had a deal with Netflix to grow its audience. However, this deal ended in 2019.
The Hollywood Reporter says the network was initially supposed to feature content that was a 50-50 split from Warner and CBS. However, due to the popularity of Greg Berlanti’s Arrowverse, Warner became the dominant provider of content for the network. The Arrowverse began with Arrow in 2012, and its popularity led to a series of connecting TV shows that include The Flash, Supergirl, DC’s Legends of Tomorrow, Superman & Lois, Batwoman, and the upcoming Naomi.
So, the question is, what happens to these shows if Warner no longer has majority ownership over the CW? Well, Warner has already been trying to bring all of the DC shows over to HBO Max, making their streaming service the primary location for DC television. The studio already did this when they moved the DC Universe exclusive shows (Doom Patrol, Harley Quinn, Titans, & Young Justice) over to HBO Max.
Network CEO Confirmed the network is being shopped around
In a memo to staff, CW CEO Mark Pedowitz confirmed that the network is being shopped around. However, it is too early to speculate about what might happen. Pedowitz is still encouraging staff not to worry about it and continue to make great television.
“So, what does this mean for us right now? It means we must continue to do what we do best, make The CW as successful and vibrant as we have always done,” Pedowitz said in the memo. “We have a lot of work ahead of us — with more original programming than ever, this season’s expansion to Saturday night, our growing digital and streaming platforms — and we thrive when we come together and build The CW together.”
CW shows continue to remain popular. But who knows what the future of the network will look like if it is, in fact, sold.
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