Warnermedia and ViacomCBS consider plans to sell The CW

AT&T’s WarnerMedia and ViacomCBS recently revealed their ongoing discussion about the potential of a CW sale. “As many of you are aware, over the past year or so, this transformative time in our industry has led to a series of business activity across media and content companies,” Pedowitz wrote. “Given that environment right now, ViacomCBS and Warner Bros. are exploring strategic opportunities to optimize the value of their joint venture in The CW Network.”

The stake has attracted the interest of various companies, including Netflix and Sony, among others. Other sales under consideration include Nextar Media Group, owner of 199 local TV stations, considered one of the lead suitors.

An official agreement is projected to be reached soon, though officials confimred in a report that the final a dismisal of the sale is a probable conclusion. “So, what does this mean for us right now? It means we must continue to do what we do best, make The CW as successful and vibrant as we have always done,” he added. “We have a lot of work ahead of us — with more original programming than ever, this season’s expansion to Saturday night, our growing digital and streaming platforms — and we thrive when we come together and build The CW together.”

After launching in September 2006, the American English-language network has offered DC Comic classics, such as “The Flash,” “Supergirl,” “Roswell,” and “Charmed.” Similarly, the CW houses “Batwoman” and “Walker.” Warner has contributed most of the projects, as well as CBS Studios and other co-producers.

Much of CW’s current revenue is generated from international and streaming sales for such scripted originals as “The Flash” and “Dynasty.” It wasn’t disclosed whether ViacomCBS and WarnerMedia plan to sell the entire network, or retain minority stakes. “It’s too early to speculate what might happen, but we promise to keep you updated as we learn more,” Pedowitz continued.