Draft:History of The CW

1993–2006: Predecessors and formation
The WB and UPN both launched within one week of each other in January 1995, just as the Fox network had started to secure a foothold with American television audiences. The two networks launched to limited fanfare and generally mediocre to poor results. However, over the subsequent $11 1/2$ seasons, both were able to air several series that became quite popular (such as Buffy the Vampire Slayer, Star Trek: Voyager, The Sentinel, 7th Heaven, Dawson's Creek, Charmed, Smallville, Everwood, Gilmore Girls, Reba, The Steve Harvey Show, and America's Next Top Model). Towards the end of their first decade on the air, the WB and UPN were in decline, unable to reach the audience share or have the effect that Fox had gained within its first decade, much less than that of the Big Three networks (ABC, CBS and NBC). In the eleven years that UPN and the WB were in operation, the two networks lost a combined $2 billion. Chris-Craft Industries, Viacom, and Time Warner officials had discussed a possible merger of UPN and the WB as early as September 1995, only eight months after their respective launches; however, discussions ultimately broke down over issues on how to combine Chris-Craft and Tribune Broadcasting's station interests in the proposal to merge the networks, since the two companies' station portfolios overlapped with one another in several major markets. By 2003, however, Time Warner became mired in several debt problems. The company had already been responsible for shutting down Warner Bros.' in-house animation department and for selling off major portions of the conglomerate, such as the 2004 sale of Warner Bros. Records and the rest of Warner Music Group to an investor group led by Edgar Bronfman Jr. and Thomas H. Lee Partners.

Executives from CBS and Time Warner announced on January 24, 2006 that they would respectively shut down UPN and the WB, and combine resources to form a new broadcast network, to be known as "The CW Television Network", that would – at the outset – feature programming from both of its predecessors-to-be as well as new content developed specifically for the new network. Warners and CBS expected to produce inexpensive shows for the network, which they could sell outside the US. CBS chairman Leslie Moonves explained that the name of the new network was formed from the first letters of CBS and Warner Bros, joking, "We couldn't call it the WC for obvious reasons." Although some executives reportedly disliked the new name, Moonves stated in March 2006 that there was "zero chance" the name would change, citing research claiming 48 percent of the target demographic were already aware of the "CW" name.

In May 2006, the CW announced that it would pick up a combined thirteen programs from its two predecessors to air as part of the network's inaugural fall schedule: seven series held over from the WB (7th Heaven, Beauty and the Geek, Gilmore Girls, One Tree Hill, Reba, Smallville and Supernatural) and six held over from UPN (America's Next Top Model, Veronica Mars, Everybody Hates Chris, Girlfriends, All of Us and WWE SmackDown!). Upon the network's launch, the CW chose to use the scheduling model utilized by the WB due in part to the fact that it had a more extensive base programming schedule than UPN, allowing for a larger total of weekly programming hours for the new network to fill. (The WB carried 30 hours of programming each week because it had a children's program block and a daytime lineup that UPN did not offer; UPN was primarily a prime time-only network with 10 weekly hours of network programming at the time of the network's shutdown.)

2006–2011: Launch and early struggles
Like both UPN and the WB, the CW targets its programming towards younger audiences. CBS and Time Warner hoped that combining their networks' schedules and affiliate lineups would strengthen the CW into a fifth "major" broadcast network. One week before the network's official launch, on September 11, 2006, a new, full version of the network website was launched; the website began to feature more in-depth information about the CW's shows.

The CW launched with a premiere special / launch party from the CBS Paramount-produced Entertainment Tonight at Warner Bros. Studios in Burbank, California on September 18, 2006, after a repeat of the tenth-season finale of 7th Heaven; the same schedule was repeated on September 19, with the sixth-season finale of Gilmore Girls. The network continued to air season finales from the previous season through the remainder of the first week, except for America's Next Top Model and WWE SmackDown!, which respectively began their new seasons on September 20 and 22, with two-hour premieres. When Top Model made its network premiere on September 20, 2006, the CW scored a 3.4 rating/5 share (with hourly ratings of 3.1/5 and 3.6/6; the CW placed fifth overall) in the Nielsen household ratings. It scored a 2.6 rating among adults 18–49, finishing fourth in that age demographic and beating the 2.2 rating earned by Fox on that night. The network's second week consisted of season and series premieres for all of its other series from September 25 to October 1, with the exception of Veronica Mars, which debuted its third season on October 3.

Despite having several of the most popular programs carried over from UPN and the WB as part of its schedule, the CW – even though it experienced some success with newer programs that launched in subsequent seasons which became modest hits – largely struggled to gain an audience foothold throughout its first five years on the air. Because of declining viewership for the network during the 2007–08 season and effects from the Writers Guild of America strike, the network announced on March 4, 2008, that it would eliminate its comedy department (dismissing executive vice president of comedy Kim Fleary and senior vice president of comedy Steve Veisel), while also combining its drama and current programming departments into a single scripted programming unit. The corporate restructuring resulted in the layoffs of approximately 25 to 30 employees. It also included the elimination of certain positions, other newly opened positions being left unfilled, layoffs from the Kids' WB unit (as the block was set to be replaced by the CW4Kids on May 24), and the elimination and transfer of marketing positions at the CW Plus to the network's marketing department.

On May 9, 2008, the CW announced that it would lease its Sunday lineup (then running from 5:00 to 10:00p.m. Eastern and Pacific Time) to production company Media Rights Capital (MRC). As Sundays have historically been a low-rated night for the network during its first two seasons on the air (due to stiff competition from CBS, ABC and Fox's strong Sunday lineups, and complicated further by NBC's acquisition of Sunday Night Football in September 2006, shortly before the CW debuted), the move allowed the CW to concentrate on its Monday through Friday prime time schedule, while giving MRC the right to develop and schedule programs of its own choosing and reap advertising revenue generated by the lineup. The Sunday series that were scheduled – two reality series (4Real and In Harm's Way) and two scripted series (romantic dramedy Valentine and drama Easy Money) – performed poorly in the ratings (averaging only 1.04 million viewers ), prompting the CW to scrap its agreement with MRC and program Sunday nights on its own starting on November 30, 2008. With no first-run programming available to run on Sundays as a backup, the network added reruns of The Drew Carey Show and Jericho, and movies to replace the MRC-produced programs.

One of the shows carried over to the network from UPN, WWE SmackDown, ended its run on the CW after the September 26, 2008, episode due to negotiations ending between the WWE and the CW on renewing the program. Representatives for the CW later confirmed that it had chosen not to continue carrying SmackDown because the network had redefined its target audience as exclusively females 18 to 34 years old, whereas SmackDown targeted a predominantly male audience. Following SmackDown's move to MyNetworkTV that same season, the Fox-owned network (which launched the same month as the CW's debut, albeit two weeks earlier, on September 5, 2006) began beating the CW in the Friday ratings every week from that program's debut on the network, though the CW continued to beat MyNetworkTV overall.

The CW generally struggled in the Nielsen ratings from its inception, primarily placing fifth in all statistics tabulated by Nielsen (total audience viewership and demographic ratings). On several occasions, the CW was even outrated by the Spanish language network Univision. This led to speculation within the industry (including a May 16, 2008, article in The Wall Street Journal ) that CBS, Time Warner or both companies might abandon the venture if ratings did not improve. However, the CW's fortunes were buoyed in the 2008–09 and 2009–10 television seasons thanks to increased ratings among females in the 18–34 demographic and the buzz that some of its newer series (such as Gossip Girl, 90210 and The Vampire Diaries) had generated with audiences. Executives with CBS Corporation and Time Warner also emphasized their commitment to the network.

On May 5, 2009, the CW announced that it would give the five hours of network time on Sundays back to its affiliated stations that fall, effectively becoming a weeknight-only network in prime time, in addition to the CW Daytime and the CW4Kids blocks (the latter block, airing on Saturday mornings, would remain the only weekend programming supplied by the network). This change meant the Sunday late afternoon repeat block that the CW inherited from the WB (formerly branded by that network as "EasyView") was discontinued. Subsequently, in mid-May, 65 percent of the CW's affiliates, including those carrying the CW Plus, signed agreements to continue to air the replacement MGM Showcase movie package on Sundays, which was offered as a traditional syndicated film package meant for the CW's former prime time slot on that night.

2011–2016: New leadership and content shift
On April 28, 2011, Mark Pedowitz was appointed by the network to succeed original president of entertainment Dawn Ostroff; Pedowitz was made the network's first president and assumed broader responsibilities in the CW's business operations than Ostroff had. As president of entertainment, Ostroff oversaw entertainment operations while John Maatta, the network's chief operating officer, handled business affairs; both reported to a board composed of CBS and Warner Bros. executives. Maatta began reporting to Pedowitz as a result of the latter's appointment as network president. Pedowitz revealed that the core target demographic of the network would not change, though the CW would attempt to lure new viewers. Pedowitz began looking to bring comedies back to the CW after Ostroff had publicly declared that the difficulty of developing comedies for its target demographic was the reason for their removal from the network following the 2008–09 season (with Everybody Hates Chris, and The Game – a spin-off of Girlfriends – becoming the last comedies to be cancelled). The network also ordered more episodes of its original series and ran them consecutively starting on September 12 through the first week of December without repeats. In July 2012, Pedowitz no longer referred to the target demographic of the CW as women 18–34, but rather that it would now be an "18–34 adult network".

Although the network was still not profitable, CBS and Warner Bros. were very successful in selling their CW shows overseas. In 2011, a $1 billion deal with streaming service Netflix became another way to sell CW shows. The introduction of action-superhero series Arrow, based on DC Comics' Green Arrow, received favorable reviews from critics and became a hit with audiences when it premiered. As evidence of the network's refocusing toward a broader audience, Arrow not only premiered to some of the highest viewership totals in the network's history (the third-highest overall, behind the series premieres of The Vampire Diaries and The Flash), but it also gave the network its strongest performance in the demographic of males 18–34 since Smallville ended its run in May 2011. The network also found success with its summer programming in 2013 with the revival of the U.S. version of the improv comedy series Whose Line Is It Anyway?, which later became a year-round staple on the network's schedule. Arrow continued to perform strongly, leading to a spin-off with The Flash, which surpassed The Vampire Diaries as the highest-rated premiere in the network's history and became the most-watched show on the network. Jane the Virgin earned some of the highest critical praise of any series during the 2014–15 television season, and became the first CW series ever to be nominated for, and win, a Golden Globe Award, with lead actress Gina Rodriguez winning the Golden Globe for Best Actress - Television Series Musical or Comedy. Other CW shows like The Flash, The 100, and Nikita would also go on to be nominated for Primetime Emmy Awards categories, and several shows from 2011 to 2019 being nominated for categories in the Teen Choice Awards, Saturn Awards, and others.

Overall, the network ended the 2014–15 season posting its highest average total viewership in a single television season since 2007–08 with 2.15 million viewers, a 12 percent increase in total viewership year-to-year; the CW also posted its highest seasonal demographic ratings among males ages 18–49 with a 0.8 share.

Expanding on the success of the network's Arrowverse franchise, DC's Legends of Tomorrow premiered to high ratings for the network and became the most-watched show on the network's Thursday night block in two years. The 2015–16 season also saw Crazy Ex-Girlfriend become one of the most critically acclaimed shows of the season and the second show on the network to be nominated for, and win, a Golden Globe Award, with actress Rachel Bloom winning a Golden Globe Award for Best Actress - Television Series Musical or Comedy.

2016–2021: Streaming era deals
The network's Arrowverse expanded again with Supergirl being moved to the network from CBS for its second season. The debut of Archie Comics-based Riverdale signaled the network's foray into mining their parent studio's library of IP to create new television series based on recognizable properties. This led to another new DC Comics series, Black Lightning, and a rebooted Dynasty. While it met with poor ratings, Dynasty proved lucrative thanks to the Netflix output deal and international syndication which earned CBS Studios millions of dollars per episode.

Selling CW series like Dynasty to Netflix and overseas markets was so profitable for Warner Bros. and CBS that the network almost stopped cancelling shows, and expanded its broadcast schedule. On February 14, 2018, the CW announced that it would add a 2-hour primetime block on Sunday nights beginning in the fourth quarter of 2018 (it later added a third hour in October 2023), returning the network to Sundays for the first time since the lease to Media Rights Capital ended in 2009, as well as expanding the CW's primetime slate from 10 hours a week to 12. Discussions with CBS and Warner Bros. about the expansion began as early as July 2017; both gave their approval to the move that December, with the network reaching clearance deals with key affiliate partners in early 2018.

On June 12, 2018, AT&T received antitrust approval to acquire Warner Bros. parent Time Warner, with the acquisition closing two days later. Time Warner was renamed WarnerMedia and AT&T became a co-owner of the CW with CBS.

The CW debuted reboots of Charmed, Roswell, and Originals spin-off Legacies during the 2018–19 season. Despite modest ratings, their renewals – along with the renewal of the entire 2018–19 lineup (absent those series already previously announced as ending) – reflected their value to the network's founding co-owners CBS and Warner Bros., which received the windfall of selling them to Netflix and international buyers. This strategy continued with the 2019–20 season debuts of the new Arrowverse series Batwoman, Riverdale spin-off Katy Keene, and Nancy Drew.

On August 13, 2019, CBS and Viacom officially announced their intention to re-merge, with the combined company to be named ViacomCBS. The merger was completed on December 4, 2019, making them officially with AT&T's WarnerMedia co-owners of the CW.

WarnerMedia and ViacomCBS did not renew CW's Netflix deal in 2019, intending to use their shows on the network for their own streaming services. International sales also mostly ended, because both companies wanted to retain rights to their own shows to compete with Netflix outside the United States. WarnerMedia's HBO Max streaming service subsequently acquired exclusive streaming rights to Warner Bros.-produced CW shows. This began with the 2019–20 season, with the Warner Bros.-produced Batwoman and Katy Keene debuting on HBO Max after their current seasons finished airing on the CW. The CBS Studios-produced Nancy Drew was originally announced to be heading to corporate-sibling owned CBS All Access, but appeared on HBO Max instead. The reason for this was amid the rebranding of CBS All Access to Paramount+ and the changes surrounding the ViacomCBS merger, CBS and Warner Bros. made the collective decision to have all CW shows have a singular streaming home on HBO Max.

Beyond being the streaming home of CW programming, HBO Max shares a co-ownership connection with the network which allows for programming partnerships. This began with DC Comics series Stargirl, which the CW shared with DC Universe. DC Universe and the CW co-financed the series, with episodes premiering on DC Universe and airing the next day on the CW. After DC Universe was folded into HBO Max, Stargirl was renewed with a new co-finance deal in which the CW receives first-run airings followed by its launch on HBO Max. Going forward, the CW and HBO Max will continue to collaborate on potentially co-financing new projects, with the model of premiering first on HBO Max and a second run on the CW. "They creatively have to want the show too and believe that the show should go on their platform first for them to work," CW CEO Pedowitz said. "For us its a great model because it's a way to get excellent summer scripted programming and maximize programming across platforms."

On May 13, 2021, the CW announced that it would begin programming Saturday nights on a regular basis beginning in the 2021–22 television season, following approval of the expansion by the network's key affiliate groups. As part of the deal, the CW ceased programming the CW Daytime block and returned the time to its stations. With the addition of Saturday nights, the CW has programming on every night of the week for the first time in the network's history, becoming only the sixth American English-language commercial broadcast network ever and the first since Fox to have offered prime time content on a nightly basis.

2022: Acquisition by Nexstar
On January 5, 2022, The Wall Street Journal reported that WarnerMedia and ViacomCBS were exploring a possible sale of either a majority stake or all of the CW, and that Nexstar Media Group, which became the CW's largest affiliate group when it acquired former WB-era network co-owner Tribune Broadcasting in 2019, was considered a leading bidder. Network president and CEO Mark Pedowitz confirmed talks of a potential sale but added that it was "too early to speculate what might happen". Nexstar CEO Perry Sook in Spring 2022 did not confirm the rumored buyout but stated that he would not be surprised if Nexstar owned a broadcast network.

In May 2022, three months before Nexstar made their purchase official, the CW cancelled ten shows, three times the average number per year that the CW had canceled over the previous decade, including one-season shows 4400 and Naomi, and longtime fixtures Batwoman, Charmed, Dynasty, In the Dark, Legends of Tomorrow, Roswell, New Mexico, and Legacies. More shows were cancelled or given final season orders in the following months including Nancy Drew, Stargirl, The Flash, and Riverdale.

In late June 2022, The Wall Street Journal indicated a purchase of the CW by Nexstar was close, and on August 15 Nexstar confirmed it had "entered into a definitive agreement" to acquire a 75-percent majority share in the network; the remaining 25 percent would be shared equally by Paramount Global (the former ViacomCBS) and Warner Bros. Discovery (the company formed by Discovery, Inc.'s acquisition of WarnerMedia from AT&T). Additionally, Nexstar stated that Mark Pedowitz would remain the chairman and CEO of the CW. Though no monetary terms were announced, Nexstar reportedly would not pay any cash or stock up front, and would absorb approximately $100 million of network debt. The Hollywood Reporter stated that Nexstar retained $54 million based on its cash on hand, accounts receivable, accounts payable and other liabilities. As the sale did not entail the transfer of any FCC broadcast licenses, Nexstar immediately took operational control of the network.

Nexstar, in a conference call that took place the day its purchase was announced, indicated a desire to run the CW cost-consciously. Citing research that indicated the network spends "almost twice" the amount other broadcast networks spend on programming, a partial reason for the May 2022 cancellations, Nexstar stated that it planned to seek shows with smaller production budgets and/or a reasonably-priced acquisition fee, including unscripted fare, syndicated content, and other content that can create profits through broadcast airings. Nexstar also stated that it aimed for the CW to turn a profit by 2025.

In the conference call, Nexstar indicated that it wanted to convert the CW into a network with broad appeal. It cited data indicating that the young audience which the CW focused upon preferred watching its shows through streaming platforms instead of during live broadcasts, while the average audience of a broadcast CW affiliate was approximately 58 years old. Nexstar indicated that it would focus on the older audiences as well and not just the younger demographic. In particular, Nexstar was reported to have been seeking older-skewing dramas, police procedurals, and sitcoms.

Paramount Global and Warner Bros. Discovery would still produce content for the CW as primary content suppliers, though Nexstar noted that the arrangement would be primarily for the 2022–23 broadcast season. It indicated that it "will have the option to extend the partnership" with Paramount and WBD beyond that season. Nexstar stated in September 2022 that it would seek to supplement the CW's content by acquiring projects from studios beyond solely Paramount and WBD. while any the CW content not licensed to other streaming services would continue to appear on its own streaming platform CW Seed.

On October 3, Nexstar officially announced that it had closed the deal to acquire the majority ownership of the CW. Longtime chairman and CEO Mark Pedowitz resigned from his role, with Dennis Miller taking over as the president of the CW. Rick Haskins, the CW's chief branding officer and president of the network's streaming division, as well as chief financial officer Mitch Nedick were let go on the same day. Thirty to forty employees were laid off on November 1, including several executives. Longtime executive Paul Hewitt was replaced with Beth Feldman as the senior vice president of the network's communications unit. On the following day, Brad Schwartz was appointed as the president for the entertainment division, overseeing programming strategy, creative and brand development, and day-to-day operations.

On November 8, Nexstar announced that the carryover programming from the former parent companies of the CW, Paramount and WBD, would be minimal by the 2023–24 season.

2023–present: Focus on linear and sports
On February 1, the CW appointed Heather Olander as the head of unscripted programming, a position under which she will report to Schwartz. In a shift away from scripted programming, it also let go of Executive VP for Current Programming Michael Roberts, and Executive VP for Development Gaye Hirsch, among other layoffs on the following day. The CW appointed Chris Spadaccini as the chief marketing officer on February 6, and Tom Martin as the head of business affairs and general counsel on February 9. It later appointed Betzy Slenzak as the vice president of unscripted programming on March 30, and Ashley Hovey as the network's first chief digital officer on April 11.

On May 18, the CW unveiled its schedule for the 2023–24 broadcast season, consisting mostly of acquired shows from outside the United States, and unscripted series. Schwartz criticized the previous co-owners of the network, stating that it would no longer exist for benefiting them, and that the shows left over from the previous regimes did not perform well on linear broadcast. He added that in order to achieve profitability, the CW was focusing on acquired shows and co-productions while expanding its audience. He also revealed that the network was in production or negotiations for a total of 72 shows. By June 2023, the CW retained only four of its existing scripted shows for the 2024–25 season.

CW Sports was launched by acquiring the rights to LIV Golf and soon expanded by acquiring ACC college football and basketball games, Inside the NFL, WWE NXT beginning in 2024 and the NASCAR Xfinity Series beginning in 2025.

In August 2023, Schwartz stated that the network was involved in many upcoming US-produced scripted shows and will focus on getting monetization rights on any scripted content it broadcasts, while producing shows at a profitable price point. He also stated that they were using sports programming for bringing in new and older audiences. Nexstar CEO Perry Sook later stated that, beyond causing the delay of four scripted shows, the 2023 Writers Guild of America and SAG-AFTRA strikes did not have much impact on the CW's fall schedule, adding that they would not affect the network's future progress.

In January 2024 during the 29th Critics' Choice Awards, The CW officially launched a new brand identity by DixonBaxi—which updated the logo with a bolder appearance, changed the network's main color from green to red-orange, and introduced a new "stage" device used in promos (formed by extending the C lettering from the logo), as well as a new sound trademark of a struck match. Spadaccini explained that the rebranding was intended to help make the network's brand more consistent and optimized for digital platforms; the word "The" was removed from the network's logo to streamline its appearance (especially in use cases such as "CW Original" or "CW Sports"), but Spadaccini stated that "The CW" would remain the network's verbal branding due to its wide usage and distinctiveness from the other major networks (whose names do not usually use the definite article).