CW is for sale.
Broadcast network, where shows like Batwoman and Walker, is being procured by its corporate owners, ViacomCBS and WarnerMedia, multiple sources confirm. The Hollywood Reporter.
The The Wall Street Journal, which first reported it, said that local TV giant Nexstar was among potential suitors. Nexstar, which owns 199 local television stations as well as cable channel NewsNation and Hill, is one of the largest owners of the station The CW. It remains unclear whether ViacomCBS and WarnerMedia plan to sell the entire network or retain a minority stake.
News of the possible sale comes as the network – a joint venture between CBS and WarnerMedia – has never been profitable since its founding in 2006 when the two companies merged the former UPN and WB Network. Much of the revenue generated from the network tends to be younger than that generated from international sales and streaming for scripted originals like The Flash and age.
The CW previously had a long-standing output deal with Netflix that helped series like Riverdale and All Americans reach a wider audience and, ultimately, grow linearly. That deal ended in 2019 when Warner Bros. TV and CBS Studios deliver library deals to their respective broadcasters, HBO Max and Paramount+. Also affecting the margins of the originals was the fact that foreign sales had almost completely ended as CBS Studios and Warners sought to retain those rights to their respective broadcasters. .
The end of output contracts with Netflix and the loss of revenue from foreign sales creates greater concern for studios, who previously generated revenue not from linear but from Netflix and revenue. international.
The CW, run by CEO Mark Pedowitz (who ranks as the longest-running broadcaster), targets viewers 18-34 years old and offers free originals on its website and CW Seed.
This network was originally designed to feature 50-50 programming provided by Warners and CBS Studios. Thanks in part to the success of Greg Berlanti’s DC Comics universe with shows that include The Flash, Superman & Lois, Batwoman, The Flash and The Legend of Tomorrow, among others, Warners is the main content provider on the network. CBS Studios offers scripted ticket prices that include age – The lowest rated original on TV – and Charming, while other originals not based on DC or CBS IP are co-productions between both studios.
Many in the industry have speculated in recent years that ViacomCBS may divest its stake in The CW as its output on the network slumps. News that WarnerMedia, prior to Discovery’s takeover, will either sell its stake or become a passive partner in The CW will come as a surprise given what percentage of the network of studio shows is led by Channing Dungey. religion.
Representatives for WarnerMedia and ViacomCBS did not immediately respond CHEAPrequest comment. A Nexstar spokesperson declined to comment.