CW is FOR SALE! | Shocker, Right?
87The CW is up for sale.
The broadcast network, home to shows like Batwoman and Walker, is being shopped by its corporate owners, ViacomCBS and WarnerMedia, multiple sources confirm to The Hollywood Reporter.
The Wall Street Journal, which first reported the news, says that local TV giant Nexstar is among the potential suitors. Nexstar, which owns 199 local TV stations as well as the cable channel NewsNation 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.
News of the possible sale arrives as the network — 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.
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