There is clearly some refocussing happening at WarnerMedia following the Discovery merger and increased AT&T focus. HBOMax is proving a success for them so as a result there may be a few spare wheels let go. One of these is could well be The CW Network.
This is jointly owned by ViacomCBS and WarnerMedia According to a report in The Wall Street Journal it could well be up for sale. Nexstar is said to be circling. ViacomCBS and WarnerMedia may decide to retain a small stake.
The CW was born out of both UPN and The WB Network way back 2006. Originally, the network’s programming lineup was intended to appeal mainly to women between the ages of 18 and 34, although starting in 2011 the network increased in programming that appeals to men. As of August 2017, the CW’s audience is 50% male and 50% female.
The network currently runs programming seven days a week: airing nightly in prime time, along with a Saturday morning live-action educational programming block produced by Litton Entertainment called One Magnificent Morning.
Their current model is somewhat strange, in that their revenue is mostly driven from selling shows like The Flash and Riverdale to big streamers in international markets rather than from Ad revenue or other sources. Netflix revenue was left at the door when that deal ended and HBO Max and Paramount+ were spun up.
Superman and Lois, Batwoman, and other shows are likely to be affected. Warner Bros. DC content is likely to be close to Warner Bros. heart as they go forward.