It seems that both CBS and Time Warner are going to pull their CW shows from online streaming services such as Netflix, and it would definitely come as bad news for DC Comics fans as a number of DC shows such as "The Flash," "Arrow" and "iZombie" will also be pulled out.

Bloomberg has reported that both CBS and Time Warner want to launch a standalone streaming service for The CW. The service will charge subscribers $2-4 a month and provide them with options to watch live shows as well as access old episodes and seasons.

Currently, Netflix has the rights to CW shows like "The Flash," "Arrow," "iZombie," and "Jane the Virgin", whereas Hulu owns rights to most recent episodes and live stream.

Though removing such shows from Netflix would take away a significant number of viewers who are fans of these shows, it seems Time Warner is all set to create a new audience base through the completely new streaming service.

Another division of Time Warner, HBO, offers viewers the option to subscribe to HBO Now, its own streaming service, for $14.99. It gives access to live episodes of shows like "Game of Thrones" and "Silicon Valley", as well as browse through numerous older episodes and shows.

CBS also has its own streaming service known as CBS Access, available for a monthly subscription fee of $5.99. It offers live streams of both daytime and nighttime shows and also access to all old CBS shows.

Recently, CBS Access has announced a new Star Trek series that will be available exclusively on the online streaming service.

The launch date of CW's streaming service is not yet revealed, but the network's contract with Netflix is going to be over soon, and it seems The CW won't take much time to come up with its own streaming service.