The CW, a network created in partnership between ViacomCBS and WarnerMedia, is going up for sale according to new reports.
The Hollywood Reporter revealed a memo was sent to CW employees informing them of plans to explore a potential sale for the network. The CW is home to shows like Walker, Riverdale, and DC shows like Batwoman and The Flash.
The CW is a joint venture between CBS and WarnerMedia that was formed in 2006 when the two companies combined UPN and The WB. Under this agreement, Warner and CBS would produce content for the network evenly, but the success of the DC Arrowverse meant Warner was providing most of the top shows like The Flash, Superman & Lois, Batwoman, and Legends of Tomorrow.
Despite the popularity of DC Comics, The Hollywood Reporter says The CW has never been profitable and that revenue was primarily generated from licensing shows to international markets and streaming services.
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.
Currently running on The CW are shows like The Flash, Legends of Tomorrow, Riverdale, Charmed, Batwoman, Nancy Drew, Stargirl, Walker, Superman & Lois, Kung Fu, and 4400.
Another superhero show, Naomi, is set to premiere this month and The CW recently announced another DC show called Gotham Knights.
Matt T.M. Kim is IGN's News Editor. You can reach him @lawoftd.
Continue reading...
The Hollywood Reporter revealed a memo was sent to CW employees informing them of plans to explore a potential sale for the network. The CW is home to shows like Walker, Riverdale, and DC shows like Batwoman and The Flash.
The CW is a joint venture between CBS and WarnerMedia that was formed in 2006 when the two companies combined UPN and The WB. Under this agreement, Warner and CBS would produce content for the network evenly, but the success of the DC Arrowverse meant Warner was providing most of the top shows like The Flash, Superman & Lois, Batwoman, and Legends of Tomorrow.
Despite the popularity of DC Comics, The Hollywood Reporter says The CW has never been profitable and that revenue was primarily generated from licensing shows to international markets and streaming services.
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.
Currently running on The CW are shows like The Flash, Legends of Tomorrow, Riverdale, Charmed, Batwoman, Nancy Drew, Stargirl, Walker, Superman & Lois, Kung Fu, and 4400.
Another superhero show, Naomi, is set to premiere this month and The CW recently announced another DC show called Gotham Knights.
Matt T.M. Kim is IGN's News Editor. You can reach him @lawoftd.
Continue reading...