Netflix’s and CW Network’s deal which allowed the streaming firm to rerun the latter’s shows has expired. Now the network is looking for other available options, including aligning itself with another streaming service, said the network’s top executive on Sunday.
Win-win deal for Netflix and CW
Speaking at the semi-annual Television Critics Association press tour in Pasadena, Calif., CW President Mark Pedowitz said the company has reached a point where it is exploring a lot of options with its parent companies. The CW is a joint venture between Time Warner and CBS.
The deal, which was signed in 2011, was valid for four years, under which Netflix bought the rights to stream repeats of the CW’s current and the future series. The deal was worth around $1 billion, says The Wall Street Journal. Such a deal was significant for the network’s bottom line and proved profitable for the parent companies, says The WSJ.
Dov Gertzulin's DG Capital has had a rough start to the year. According to a copy of the firm's second-quarter investor update, which highlights the performance figures for its two main strategies, the flagship value strategy and the concentrated strategy, during the first half of 2022, both funds have underperformed their benchmarks this year. The Read More
To Netflix, the deal brought several shows that are popular among younger viewers such as The Vampire Diaries, Arrow and The Flash. The 2011 deal does not cover CW shows that are this season, which include the critically acclaimed Crazy Ex-Girlfriend and the much-anticipated upcoming DC’s Legends of Tomorrow. Netflix will, however, still get new episodes of the older shows.
Pedowitz did not specify the names of the companies that CBS and Time Warner might consi