The CW, home of DC and Dark Teen Dramas, is for sale

The CW, a network formed in partnership between ViacomCBS and WarnerMedia, is reportedly up for sale.

The Hollywood Reporter announced that a memo had been sent to CW employees informing them of plans to look into a possible 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 through the merger of the two companies UPN and The WB. Under that agreement, Warner and CBS would equally produce content for the network, but the success of DC Arrowverse meant Warner delivered most of the top shows like The Flash, Superman & Lois, Batwoman, and Legends of Tomorrow.

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Despite the popularity of DC Comics, The Hollywood Reporter says, The CW has never been profitable and its revenue has been primarily generated from licensing shows to international markets and streaming services.

The CW long licensed shows like The Flash and Riverdale to Netflix, but ended that deal in 2019 when Warner and CBS focused on their streaming platforms HBO Max and Paramount +, respectively. As the two networks began to keep their content library to themselves, license and foreign sales revenue dried up, possibly leading to The CW’s current situation.

In a memo to employees, CW CEO Mark Pedowitz confirmed that CBS and Warner are looking for “strategic opportunities” for the network, but that the channel will continue to provide original programming for the coming season for the time being.

The CW is currently running 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 slated to premiere this month, and The CW recently announced another DC show called Gotham Knights.

Matt TM Kim is the news editor for IGN. You can reach him @lawofd.

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