Since the beginning of 2022 there have been many reports that Warner Bros. Discovery and Paramount have been looking to sell off network The CW. With a whole spate of recent cancellations across the network, many have been wondering exactly what is happening with The CW and exactly where it leaves some fan-favorite shows in the future. Now it seems that Nexstar Media Group Inc are “very close” to agreeing a deal that would see them become 75% shareholders of The CW, with both of its parent companied holding on to a 12.5% stake each. The deal would reportedly see Nexstar pay nothing upfront for the network shares, instead taking on a large chunk of the $100 million plus losses currently being recorded with the network.

While this has not yet been confirmed, it seems like a strong possibility that The CW will soon have new majority owners, and that means another round of decisions about the future of programming on the network. The most recent reports have suggested that CBS and Warner Bros. will continue to create content for the network and gain from the pre-existing deals already in place with other streaming platforms. Of course, with both Paramount and Warner Bros. Discovery having their own streaming platforms to think about, there is a question of just how much content they would be willing to put out on the network.

Related: CW Head Says Network is ‘Staying in the Superhero Business’ Despite Recent Cancellations

The CW Has Canceled Many Fan- Favorite Shows

When it comes to the immediate future of The CW, the network has already announced its upcoming slate for the fall, meaning that there will be no changes made to those programs regardless of whether the Nexstar deal completes or not. Over the last few months, there have been a few new additions to the upcoming line-up of series on offer, but in less than a week around eight series were canceled outright, with several others now heading into their final season.


The biggest shocks to come from the run of cancellations included the end of Batwoman, Legends of Tomorrow and new DC series Naomi, which ended after just one season on the network. Also in the firing line were long-running series like Dynasty, Charmed and Vampire Diaries spin-off Legacies. In addition to these, it was also revealed that Riverdale would come to an end after its new season, and while other shows like Superman & Lois, The Flash, Stargirl and Nancy Drew have all been renewed, there are suggestions that they too may not have much longer on The CW’s slate.

Despite that, The CW did make some bold announcements that there will be new reboots of Zorro, Babylon 5 and the troubled Powerpuff Girls live-action series all joining the line-up of future offerings, as well as Walker prequel series Walker: Independence and Supernatural prequel The Winchesters, showing that while one door seems to be closing, The CW is opening up new avenues to explore. With merger talks seemingly now coming to a head, the future of The CW looks like it will all be decided very soon.