WarnerMedia and ViacomCBS reportedly plan to sell the CW
WarnerMedia and ViacomCBS in Serious Discussions to Sell, Says New Wall Street Journal Report The CW or at least the majority of its shares, which they hold jointly.
The entertainment landscape is constantly changing, and one of the most revolutionary milestones in this progress has been taken by the television industry with the introduction of streaming services. These days, platforms like Netflix, Disney Plus, and HBO Max are all the rage while other mainstream networks struggle to keep up with the content of these behemoths and the sheer number of users they regularly attract.
So it’s no surprise to hear that The CW is one of those operators that fails to generate as much profit for its parent companies as it once did. While the network certainly had its moment in the sun a few years ago through the Arrowverse’s interconnected narrative, those days are also behind as Warner Bros. is fighting to catch up with Marvel Studios in the competition with their new streaming service, HBO Max.
As for The CW, the outlet alleges that sources close to the talks have revealed that Nexstar Media Group – which is the country’s largest television broadcaster – is the candidate most likely to win among other interested parties. The most likely scenario is that the media company takes a controlling stake while WarnerMedia and VIacomCBS retain their ownership rights as minority owners.
As previously reported, while the network itself is not profitable, its assets have helped parent companies on other platforms. For example, WB has made a lot of profit selling The CW shows to Netflix, while future shows may find their way to HBO Max as well.
Talks may still fail, but it looks like the respective companies are close to a deal.