ViacomCBS and WarnerMedia are reportedly putting the jointly-owned The CW network up for sale according to The Wall Street Journal.
Local TV giant Nexstar is said to be among the potential suitors and is already one of the largest owners of The CW stations. It’s not clear if the entire network will be sold off or if ViacomCBS and WarnerMedia will retain a minority stake.
A merger of both UPN and The WB Network back 2006, much of The CW’s revenue came from the selling of its scripted originals like “The Flash,” “Legends of Tomorrow,” “Supernatural” and “Riverdale” to international markets and streamers as opposed to broadcast.
A big part of this was a long-standing output deal with Netflix – the network supplying a steady stream of shows with consistent audiences and fanbases. However, that deal ended in 2019 as Warners and CBS shifted libraries to their own streamers HBO Max and Paramount+ – effectively ending profits from re-sales.
How such a sell-off would impact their currently ongoing series from “Superman & Lois” to “Walker” to “Batwoman” is not clear at this time.
The sales talk comes as another key acquisition deal went down this week. AMC Networks has just acquired anime content distributor Sentai and its niche subscription streaming service HIDIVE which will be incorporated into AMC’s portfolio of boutique SVOD services which includes AMC+, Acorn, Shudder, Sundance Now and ALLBLK.
Source: THR
