Much to the delight of its Critics, the CW Network is for sale.
The CW Network is going up for sale, it was first reported on The Wall Street Journal, the home of shows such as Riverdale, Nancy Drew, and reboots of Dynasty, Walker, and the DC Comics television shows like Flash, Batwoman and Superman & Lois has caught the eye of a Local Television Giant called Nexstar is one of the potential suitors. Nexstar, which owns 199 TV Stations as well as cable channels such as News Nation and The Hill, is one of the largest owners of The CW stations. It isn’t immediately clear whether ViacomCBS and WarnerMedia plan to sell the entire network or retain minority stakes.
According to THR, a joint venture between CBS and WarnerMedia — has never been profitable since its formation in 2006 when the two companies merged the former UPN and The WB Network. Much of the revenue that is generated from the younger-skewing network is generated from international and streaming sales for such scripted originals as The Flash and Dynasty.
For a long time, The CW licensed shows like The Flash and Riverdale to Netflix but ended this deal in 2019 as Warner and CBS focused on their streaming platforms, HBO Max and Paramount+, respectively. As the two networks began to keep their content library for themselves, revenue from licensing and foreign sales dried up, potentially leading to The CW’s current situation.
In a memo to staff, CW CEO Mark Pedowitz confirmed that CBS and Warner are looking at “exploring strategic opportunities” for the network, but that for now, the channel will continue to provide original programming for the upcoming season. For Mark Pedowitz’s full memo, you can read it on THR.
Since its announcement, headlines, and comments have been coming in that started with “Get Woke, Go Broke” a phrase that was coined by author John Ringo, which means that when a company puts politics ahead of making a quality product, the company suffers for it. Critics have claimed that this Sale fitted the narrative due to the network’s stance on Social and Civil Issues on their shows and statements they have given in the past, believing that is what lead to the network’s downfall.
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