Recent reports that WarnerMedia and ViacomCBS are putting The CW up for sale have superhero fans wondering what impact this will have upon the Arrowverse. The popular shared universe of live-action adaptations of DC Comics properties has suffered setbacks and lower ratings in the wake of the COVID-19 pandemic shutdowns and there were rumors that many long-running series were coming to a close in 2022 even before the news regarding the sale broke. However, there has been no official announcement that any Arrowverse shows have been canceled or that there will be a mass migration of superhero shows to HBO Max, though both options remain a possibility.
One factor fueling the rumors is social media posts by actor/director Caity Lotz, who has played the character of Sara Lance across multiple Arrowverse series since Arrow season 2. Lotz recently moved out of the apartment where she had lived for several years in Vancouver, where most of the Arrowverse series are filmed. This has led to speculation that Legends of Tomorrow will be coming to a close after the final six episodes of Legends of Tomorrow season 7 return following a mid-season hiatus and that the rest of the Arrowverse series may be next on the chopping block.
In spite of these reports and the news that The CW has never turned a profit despite producing many popular series, including the various Arrowverse shows, there is little reason for audiences to give in to feelings of doom and gloom. It is just as likely that some series might be moved to HBO Max in the wake of a CW collapse as them being canceled outright. It is also worth noting that WarnerMedia has made a large investment in the DC Comics brand, with many DC Comics television series in the works, so the fate of the Arrowverse might not be sealed. All things considered, there are three likely scenarios regarding the future of all of the Arrowverse series.
Scenario 1: Cancellation
The worst-case scenario for Arrowverse fans would be for WarnerMedia or the new owners of The CW to decide to cut their losses and cancel all the Arrowverse series outright. Something similar happened with all of the shows inspired by DC Comics properties on the Fox network following Disney's purchase of Fox due to Disney also owning DC Comics' main competitor, Marvel Comics. Gotham, which was a big hit for Fox that ran for five seasons, was canceled in anticipation of the merger, and an effort to renew the fan-favorite Lucifer series faltered in the wake of the merger before Netflix picked up the series for another three seasons, coming to a close with Lucifer season 6.
This possibility seems unlikely, even in the face of rumors that Legends of Tomorrow and Batwoman might be ending later this year. It seems especially absurd given the upcoming premieres of the new series Naomi and Superman and Lois season 2, which has been one of the network's biggest successes critically and commercially. While some of the lower-rated Arrowverse series might be canceled because of the sale, a line-wide shutdown seems implausible, as many series still retain tremendous growth potential and high value on the international market.
Scenario 2: A Move To HBO Max
The second and more likely scenario is that some, if not all, of the Arrowverse series might be moved to HBO Max. Apart from the Arrowverse shows already on The CW and Netflix's adaptation of The Sandman, every upcoming live-action DC Comics' show currently in production or pre-production is being made for the HBO Max streaming service. Given that, it would not be entirely unexpected for the various Arrowverse shows to make the jump to HBO Max, which had also considered producing some Arrowverse spin-off series, like Green Arrow and the Canaries and Painkiller after The CW passed on picking them up.
This seems to be the most likely scenario, given previous practices behind the scenes at WarnerMedia. When the short-lived DC Universe streaming service closed down, most of its original programming was moved to HBO Max. Strangely enough, the sole exception to this mass migration was Stargirl, which it was felt would be a better fit for The CW, which has always been more focused on youth-oriented programming aimed at teenagers and young adults. Stargirl season 2 proved to be a big hit for The CW and Stargirl season 3 is still scheduled to air on The CW sometime in 2022.
Another consideration may be which Arrowverse series already have deals in the works to be streamed on HBO Max after their seasons are broadcast on The CW. Currently, Stargirl, Superman and Lois, Batwoman and Naomi are licensed to HBO Max, whereas The Flash and Legends of Tomorrow are still licensed to Netflix, along with all of the other Arrowverse series that have already ended their runs. It's possible that WarnerMedia might choose to focus on promoting the newer series that already stream on HBO Max and close out those shows currently streaming on Netflix.
Scenario 3: Business As Usual
The final possibility is that all this worrying is much ado about nothing and that whoever purchases The CW will wish to maintain the status quo. This scenario also seems unlikely, given the breaking news regarding how financially unsuccessful The CW Network has been since its foundation in 2006. Presumably, anyone who purchased The CW would be doing so with an eye on changing things to make more money in the future. Otherwise, there would be little point in purchasing the network in the first place.
However, just because changes are in the works at The CW does not necessarily mean an end to the Arrowverse. When UPN and the WB network merged to form the CW, many programs made the jump and continued to run after the merger. This included the long-running Supernatural, which recently ended with season 15 after starting out on the WB. If Supernatural could switch networks after its freshman season and go on to become one of the strongest mainstays of The CW lineup, there is nothing to stop the same from happening with Naomi and other shows should they make one giant leap from The CW to HBO Max.