The CW is going up for sale by WarnerMedia, with a potential home for the network already in the cards.
Late on Wednesday, Jan. 5th, it was revealed that WarnerMedia was looking to sell its television network, the CW. The news was first reported by The Wall Street Journal, with the outlet reporting Nexstar is one of the potential suitors. Interestingly enough, while WSJ was able to confirm the network is for sale, it was unable to note whether ViacomCBS and WarnerMedia intend on selling the entire network outright or retaining a minority stake following the purchase.
The CW, of course, has long been a struggling network since its debut in 2006. At the time, the network came about when UPN and The WB Network were merged together. Compared to other networks, the views for the CW have long been less than stellar with much of the revenue earned by the network coming from the international streaming sales of its biggest titles, including The Flash and Dynasty. While the CW once had a strong deal with Netflix that helped to booster some of its titles, that deal expired in 2019 following the launch of HBO Max. This ultimately cut into the network’s profits for the sales of international streaming rights.
When the CW was created, it was meant to provide a network for viewers between the ages of 18-34. Yet, while the network has found some success with its DC Comics adaptations (nicknamed the Arrowverse), viewership has continued to decline, with most titles lucky to even pull in a 1.0 rating in the all-too-important 18-34 demographic.
Source: The Wall Street Journal