Even with the apparent success of shows such as Riverdale, Supernatural, and the long-running “arrowverse” shows (The Flash, Arrow, Supergirl), multiple reports to The Hollywood Reporter show that the network hasn’t been profitable since the network’s inception in 2006. This long-standing loss has led its two parent companies to put the young audience-targeting network up for sale.

According to The Hollywood Reporter, the bulk of the network’s financing has come from selling their shows to specific streaming platforms. The teen-centered network had a long-standing deal with Netflix further to promote shows like The Flash and All American. Still, with their parent companies Warner Bros. TV and ViacomCBS creating their own streaming services (HBO Max and Paramount Plus), the two companies did not renew that deal with Netflix in 2019.

Deadline reports that a potential buyer is Nexstar Media Group, but sources caution that this is just at an interest level and that no offers have been given.

“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 activities across media and content companies,” CW chairman and CEO Mark Pedowitz wrote in an internal memo to staff. “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 is unknown how this will affect the network in the future, but for now, Pedowitz stressed to continue production and keep creating a “vibrant” feel for audiences through their shows.

“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,” Pedowitz said.