The CW is for Sale

The CW is reportedly for sale once again. If a deal goes through, the new owner will have more options to expand the network and provide more innovative experiences than any previous incumbent.

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The CW is available for purchase.

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The Arrowverse might be moving to a new location. The CW network is being sold by ViacomCBS and WarnerMedia, according to the Wall Street Journal. (The specifics are available at The Hollywood Reporter, who verified the news from “several sources” shortly after the Journal broke it.) The CW was formed in 2006 by merging the WB and UPN networks; according to these reports, the network’s owners claim that the CW has never made a profit since its inception, and that the CW’s prospects as a potential moneymaker are dwindling due to the expiration of a licensing deal with Netflix, as well as a lack of foreign distribution. It’s unknown if WarnerMedia and ViacomCBS will sell the whole network or keep a minority stake. The latter is the more probable scenario, according to Deadline, since the CW’s programming is largely made up of assets owned by the two media firms, such as the Arrowverse and CBS remakes like Walker and Dynasty. Nexstar Media Group, their biggest affiliate and the country’s largest TV station owner, has a lead on who could acquire the CW, or at least a majority of it, according to Variety. CW CEO Mark Pedowitz has written a statement to the company’s workers, which seems like a load of reassuring fluff to probably jittery employees, but you can read it for yourself below and decide for yourself:

Greetings, CW Team!

I’m sure you’ve heard about the recent news rumors surrounding The CW, so I wanted to take this opportunity to speak with you personally and convey what we know.

First, as many of you are aware, our industry’s transformation has resulted in a flurry of commercial activity across media and entertainment organizations over the last year or two. Given the current climate, ViacomCBS and Warner Bros. are looking for innovative ways to maximize the value of their joint venture in The CW Network.

It’s too early to guess on what could happen, but we’ll keep you informed as more information becomes available.

So, what does this imply right now for us? It means we must keep doing what we’ve always done: making The CW as successful and lively as possible. With more original content than ever before, this season’s expansion to Saturday night, and our expanding digital and streaming platforms, we flourish when we join together and develop The CW together. 

Mark

This is, to say the least, unexpected. The fact that the CW was never profitable for its owners is the most stunning aspect of the narrative. It lasted fifteen years despite losing money, and I doubt that DC programs got much cheaper as time went on and the performers became more well-known. Allowing Greg Berlanti to impose his bizarre views on what was once a pleasant and widely engaging superhero series probably doesn’t seem like such a good idea in hindsight. (If you watch The Flash this year, especially the new addition Superman & Lois, you get the idea the suits figured it out eventually.) Given that history, I believe Deadline is accurate, and the present owners will retain some holdings, if only so that whomever purchases the network will have something to show, and something associated with the CW brand. If that’s the case, I believe they’ll preserve the Arrowverse as a concept, or at the very least continue to produce DC Comics series in some capacity. Apart from Superman & Lois, The Flash seems to be on its final legs, and everything else is either ending, has finished, or is on unstable foundation. Maybe they’ll reboot with a new DC Universe, free of the teeny-bopper vibe of the Arrowverse; less soapy high school drama (I know they’re adults, but they look and behave like kids) and more heroic action. It would be great if they could persuade Warner Bros. to violate their stupid prohibition and let them to employ characters like Batman and Wonder Woman; they already have a beloved Superman, so why not round out the big three and create a Justice League worth rooting for? If you have this license, go for broke.

What are your thoughts on a possible CW sale? What way do you think the network should go under the new owners? Is it possible that a remake of Evening Shade might have saved the day? Let us know in the comments, and stay tuned for more TV news on Geeks + Gamers!

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