CW now stands for Cheap Wankers

[Sunday]

ViacomCBS and WarnerMedia reportedly looking to sell The CW (UPDATE: Confirmed)

UPDATE: CW CEO Mark Pedowitz has confirmed the news.

To Our Valued CW Team

I am sure you have seen the recent speculation in the press around The CW, so I wanted to take the opportunity to address this with you directly and share with you what we know.

First, 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. 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.

It’s too early to speculate what might happen, but we promise to keep you updated as we learn more.

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. 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.

Mark

Original story follows.

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It appears that The CW may be closing in on finding a new owner.

According to a report from The Wall Street Journal, ViacomCBS and WarnerMedia are looking at a possible sale of a significant stake or all of the CW Network. Reportedly, the leading choice of buyers is Nexstar Media Group Inc. which currently operates 199 local TV affiliates, the majority of which are part of The CW.

According to the reports, there are multiple suitors for the purchase, but the discussions with Nexstar are the most advanced. Should Nexstar be the winner of the sale, it would more than likely move forward with being the majority order and ViacomCBS and WarnerMedia retaining minority stakes in the project. Both studios would commit, as well, to being the primary content producers for the network.

ViacomCBS and WarnerMedia have been partners in The CW since it was the result of merging UPN and The WB Network in 2006. Both companies produce series for the network with WarnerMedia being responsible for the most popular series on the network in Riverdale, and ViacomCBS producing series such as Walker. Both networks have found making the network profitable an issue, but have found the content is quite lucrative on the secondary market when they sell the streaming rights.

According to the report, in the case of WarnerMedia, any future series it would produce for The CW would be funneled to HBO Max for secondary transmission. This is a solution already underway with series such as Nancy Drew and Batwoman ending up there.

The most surprising part of this report is the timing. With the WarnerDiscovery merger on the horizon, it seems like an odd time to sell off an outlet for your intellectual properties. This does make us wonder if the true focus going forward will be on streaming as many pundits assume it will be.

If worst case scenario, The CW cannot remain alive as a profitable network, most likely shows like Superman and Lois and other big hitters like Walker would find permanent homes on streaming services.

Both ViacomCBS and WarnerMedia have been declining to comment on the potential deal to any inquiries.

[Sunday]

It's still too early to tell since they have buyers and it might survive. Even if it goes so bad, The CW is no longer around. I do expect most of the big hits will just find homes on streaming full time.

But, I do wonder if The CW trying SO HARD, to be woke and diverse when they really are not that great at it, has backfired on them. Especially with the scenes issues on some shows. Look at what happened in Charmed's reboot and Batwoman they rate like crap. The network hasn't been doing so great in at least four years. They try to claim they are diverse when I just see it as marketing, which isn't working for them in the long run.

[Tim]

Well, it's happened.

Found this interesting:

During a conference call on Monday, Nexstar president and chief operating officer Tom Carter shared the company’s strategy for making The CW profitable in the years to come, which will include content that appeals to an older audience than The CW has previously targeted.

Sounds to me that they're basically surrendering the younger viewers field to streaming and such.

[Squad 51]

Sounds like it. And where does this leave the older audience if there's nothing to watch? Just asking.

[Tim]

This sale should have been blocked, IMO.

[matt]

Aug 16, 2022 11:07:21 GMT -5 Tim said:

Well, it's happened.

Found this interesting:

During a conference call on Monday, Nexstar president and chief operating officer Tom Carter shared the company’s strategy for making The CW profitable in the years to come, which will include content that appeals to an older audience than The CW has previously targeted.

Sounds to me that they're basically surrendering the younger viewers field to streaming and such.

Now it's starting to make sense. Superman & Lois, Walker and Kung Fu all appear to an older audience. Given all three have adult characters in them or raising teenagers.

Walker has a strong appeal to cater to all ages.

Might be why CW cleaned house on so many shows. They are going to streaming.

[Tim]

Except they didn't send those shows to streaming, they cancelled them. 

[Squad 51]

Very strange action. Who knows what these executives were thinking?

[Tim]

This sale should have never been allowed to happen, if you ask me.  Surely there must have been some way to block it.

[matt]

The CW Widens Programming Scope To Include Sitcoms & Procedurals, Begins Testing Outside Studio Deals With ‘The Hatpin Society’ From EP Rachel Bloom

Since then, sources tell Deadline that CW brass have reached out to the creative community, including taking agency meetings, to lay out their buying strategy going forward and tell everyone that the network is open for business.

On the original scripted programming side, in addition to the CW’s signature genre shows and teen soaps, which the network intends to keep doing — just not as many — it plans to broaden its slate by adding procedurals and other older-skewing dramas as well as half-hour comedies including multi-camera sitcoms.

The overall message was: bring us what you would’ve brought to the CW before but also bring us what you wouldn’t have brought to us in the past.

The CW has an older viewership. Especially those who have grown up with us since the early 2000s. "But some of our older viewers we dub "the golden oldies" haven't left us. We've got viewers in their 50s and 60s where procedurals are a staple for them. Our viewers are aging. All those teens who for example followed us in the days of Supernatural and Smallville are all grown up entering their 30s. We need to evolve." It's why most of shows the talent has increased to feature more older actors in their 50s and 60s among the regular cast. Kung FU and Walker are prime examples. 

The network’s new programming strategy is looking to embrace these older linear viewers and trying to expand that pool. The network has done that occasionally with specials such as The Waltons holiday movies as well as the the Critics Choice Awards.

That will remain in place for the 2022-23 season as the vast majority of programming for it has been spoken for. Beyond that, Nexstar “will have the option to extend the partnership” with the studios, Carter said post-deal close, but noted that the situation is very much in flux. The company’s executives have indicated that the CW would be open to outside suppliers going forward.

[matt]

It's nice to see The CW embrace older actors. Typically it was under 30 making up the majority of the cast on shows.

It's true most of their audience are over 30 now. I don't see anybody under 25 watching The CW live.

This makes sense from a business point of view.

[Tim]

More or less confirms what I said earlier.

An unconditional surrender to streaming

[Dark Avenger]

Not surprised. Most of the younger crowd are streamers. So it makes sense.

[Tim]

CW waving the white flag.

[matt]

When was the last time they had a Sitcom. I honestly can't remember. Might’ve been the WB days.