Confirming a recent rumor (well, it was really more of a leak), it's been announced that The CW is officially under new ownership.
THR reports that a deal between Nexstar and CW co-owners Warner Bros. TV and CBS Studios has been struck, with 75% of the network's stakes going to the Texas-based media group, while original parent companies Warner Bros. Discovery and Paramount will retain 12.5% each.
"Our acquisition of The CW is strategically and operationally compelling, as it will enable us to leverage our operational experience to improve the network's performance through our management of this powerful national platform," Nexstar CEO Perry Sook said in a statement. "We plan to apply the same strict financial standards to operating The CW as we apply to our other businesses."
George Cheeks, president and CEO of Paramount’s CBS, added: “This new ownership structure enables us to partner with Nexstar and Warner Bros. Discovery on the next chapter of The CW while re-deploying capital to other content platforms at Paramount.”
It sounds like some big changes are coming, as The CW's new owners are said to be targeting an older demographic. We've already seen several Arrowverse shows cancelled over the past few months, and it was recently announced that the next season of The Flash will be its last.
New DC-based content is still being developed, however, as Gotham Knights has not been scrapped (despite rumors to the contrary), and, as far as we know, there are no current plans to axe Superman and Lois.
Even so, this deal would appear to mark the end of the "Arrowverse" itself in terms of the network producing various different shows set in the same universe.
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