CW is for sale.
The broadcast network, home to shows like Batwoman and Walker, is traded by business owners, ViacomCBS and WarnerMedia, confirms several sources The Hollywood Reporter.
The Wall Street Journal, who first reported the news, says that the local TV giant Nexstar is among the potential suitors. Nexstar, which owns 199 local TV stations as well as the cable channel NewsNation and Bakken, is one of the largest owners of the CW stations. It is not immediately clear whether ViacomCBS and WarnerMedia plan to sell the entire network, or retain minority interests.
News of the possible sale comes as the network ̵[ads1]1; a joint venture between CBS and WarnerMedia – has never been profitable since it was formed in 2006 when the two companies merged the former UPN and The WB Network. Much of the revenue generated from the younger crooked network is generated from international and streaming sales of such script originals as The lightning and Dynasty.
The CW previously had a long-running production agreement with Netflix that helped series such as Riverdale and All American reach wider audiences and eventually grow linearly. This pact ended in 2019 when Warner Bros. TV and CBS Studios moved library agreements to their respective streamers, HBO Max and Paramount +. What also affects the profit margins on originals is the fact that overseas sales are almost complete as CBS Studios and Warners want to retain these rights for their respective streamers.
The end of the Netflix production agreement and the loss of revenue from overseas sales created a greater concern for the studios that previously generated revenue not from linear, but from Netflix and international sales.
CW, under CEO Mark Pedowitz (who ranks as the longest broadcast stopper), targets viewers aged 18-34, offering originals available for free on the site and CW Seed.
The network was originally designed to have programming provided 50-50 by Warners and CBS Studios. Partly thanks to the success of Greg Berlanti’s DC Comics universe with shows, including The Flash, Superman & Lois, Batwoman, The Flash and Tomorrow’s legendsAmong other things, Warners has been the primary provider of content on the network. CBS Studios delivers script price included Dynasty TV’s lowest rated original – and Charming, while other originals that are not based on either DC or CBS IP are co-productions between both studios.
In recent years, several industry insiders have speculated that ViacomCBS may sell its stake in The CW as production on the network declined. News that WarnerMedia, ahead of the Discovery acquisition, would look to sell its stake or become a passive partner in The CW would be a surprise given how much of the network they Channing Dungey-led studio programs.
Representatives of WarnerMedia and ViacomCBS did not immediately respond THRhis request for comment. A spokesman for Nexstar declined to comment.