Brad Schwartz drops a bombshell about CW's 20th‑year future

**The CW Celebrates Two Decades, President Schwartz Highlights Network’s Shift Toward New‑Gen Viewers**

On Friday, The CW marked its twentieth anniversary with a brief LinkedIn note from President Brad Schwartz.

He reflected on the milestone, noting that the network “continues to evolve for a new generation of viewers.” The post included photographs from a celebration held at the Nasdaq Marketsite in New York’s Times Square, underscoring the brand’s enduring presence in the city’s media landscape.

Founded as a 50‑50 joint venture between Warner Bros. and CBS, The CW originally served as a home for shows produced by its parent companies. Its early identity leaned heavily on hour‑long dramas aimed at younger audiences.

In 2006, the network’s inaugural lineup featured titles such as *America’s Next Top Model*, *Gilmore Girls*, *7th Heaven*, *One Tree Hill*, *Smallville*, *Supernatural*, *Veronica Mars* and *Everybody Hates Chris*.

In 2022, Nexstar Media Group acquired a 75% stake in the network, while Paramount (CBS parent) and Warner Bros. Discovery each retained 12.5% ownership. The change in ownership precipitated a shift in programming, expanding the schedule to seven days a week and adding more live sports and unscripted content.

## Background & Context

The CW’s launch at the Television Critics Association summer press tour in 2006 set the tone for its early years. By drawing on popular series from The WB and UPN, the network positioned itself as a youth‑centric destination.

Its focus on viewers aged 18 to 34 carried over into its digital strategy, launching one of the first free, ad‑supported streaming apps before connected‑TV became mainstream.

During the 2010s, The CW began licensing many of its shows to Netflix, a partnership that ended when HBO Max launched in 2020. The move reflected broader industry shifts toward streaming platforms while maintaining a core broadcast audience.

Throughout these changes, the network continued to prioritize online engagement and digital distribution.

## Shift Under Nexstar

Following Nexstar’s takeover, executives highlighted the network’s prior financial losses compared to other broadcast peers.

They projected profitability within three years through programming and distribution overhauls, though cash‑intensive sports investments delayed that timeline. , the network now expects to turn a profit in the fourth quarter of this fiscal year.

Schwartz noted that under Nexstar’s leadership The CW has “entered an exciting new chapter – expanding its programming, building a major presence in live sports, and reaching audiences across broadcast, streaming, and digital platforms.” The addition of live sports and unscripted fare broadens the network’s appeal beyond its traditional scripted lineup, positioning it as a more versatile broadcaster.

## Corporate Challenges Ahead

The network’s minority ownership by Paramount and Warner Bros. Discovery poses strategic questions amid their planned $110 billion merger. Antitrust lawsuits filed by 12 state attorneys general and the Writers Guild of America have stalled the deal, raising uncertainty about how the 25% stake will be managed post‑merger.

Nexstar itself faces a separate antitrust hurdle: a federal judge froze its $6.2 billion acquisition of rival Tegna last April after the deal closed. The ruling cites concerns from DirecTV and state attorneys general that the purchase is monopolistic.

Nexstar has appealed, with the Ninth Circuit expected to review the case later this year.

The CW’s 20th anniversary serves as a milestone marker, but the network’s future remains intertwined with ownership dynamics and evolving content strategies. Its continued evolution toward a new generation of viewers will depend on navigating these corporate and regulatory challenges while maintaining its expanded programming slate.