After 16 years, it looks like WarnerMedia and ViacomCBS are looking to sell The CW. Formed in 2006 as a combination of The WB and UPN, The CW has been home to a number of popular series including the various DC series of the Arrowverse such as The Flash and Superman & Lois, as well as The Vampire Diaries series, and Riverdale. While The CW may not have drawn in the large ratings or critical awards that other networks have, it has maintained a passionate loyal fanbase thanks to catering to a younger demographic.
The CW has been making efforts to expand and grow in the past year. In 2021 the network expanded programming to seven days a week, adding Saturday to its lineup. The CW was also reportedly looking to collaborate with HBO Max to create new original programs for both networks. What's more, The CW has spin-offs of popular series like Supernatural and Walker in the works to grow their output of series. Yet, as WarnerMedia merger with Discovery began in 2021 and ViacomCBS began investing in more original programming into Paramount+, it appeared that The CW was becoming less of a priority.
According to THR, The CW's two parent companies, WarnerMedia and ViacomCBS, are looking at selling the CW. However, it is currently unclear if the two are looking at a complete sale of the network or retain a minority stake. The initial report from The Wallstreet Journal said that media giant Nexstar is a possible buyer, as they own 199 local TV stations, as well as the cable channel NewsNation. The news come after it was clear that The CW has never been profitable and made most of its money from international and streaming sales. Both of these have ended due to both WarnerMedia and ViacomCBS looking to retain these rights for their streaming services, HBO Max and Paramount+, respectively.
In 2016, The CW's made a deal with Netflix, which outlined that shortly after the season of a series on the network wrapped, they would appear on the streaming service. This model helped series like All American and Riverdale reach a wider audience, who in turn would then watch on the linear network and see a bump in the ratings due to them being readily available on Netflix. However, newer series like Superman & Lois and Walker are now put on HBO Max, while shows made prior to the deal still remain on Netflix.
If the sale were to go through, what it means for the future of the network and various programs could be up in the air. The shift from the WB to The CW led to the cancelation of shows in development at the time, including the Aquaman series pilot. Riverdale has seen a dip in ratings recently, and three of the Arrowversese series (Black Lightning, Arrow and Supergirl) have wrapped up, so it could be the beginning of that corner of the DC Universe to wind down. However, Supernatural was only in season 1 when The WB changed to The CW, and it ran for 14 more seasons on The CW. Given that, it's entirely possible that the only thing that will change in the near future is a simple name of ownership.
Source: THR