CW's "Arrow" and "The Flash" are some of the most watched television shows in their time slots. The premiere of "The Flash" alone had 6.8 million viewers including DVR last fall, making it the most-watched telecast of all time. It's no wonder the show's creators are looking to make a spinoff from two of their most successful shows.

Entertainment Weekly confirmed the spinoff when it was first mentioned by CW president Mark Pedowitz at January's Television Critics Association (TCA) press tour in Pasadena. Pedowitz said, "You'd have to be judicious. Could there be another hour in that universe? Possibly. That's why we're in preliminary discussion. [The show] has to stand on its own legs."

Since then the spinoff is well on its way to air with some of its cast members being announced this week. According to Deadline, the spinoff will feature "Arrow's" Ray Palmer (the Atom) played by Brandon Routh, "The Flash's" Dr. Martin Stein played by Victor Garber and Leonard Snart (Captain Cold) played by Wentworth Miller.

Caity Lotz, who played Black Canary on "Arrow", is reportedly going to star in the spinoff as well. However, her role has yet to be announced since her character died, and Katie Cassidy took over her position as Black Canary. The show is rumored to have three major DC Comics characters who have never been in a television series before as well.

This new spinoff will most likely be produced by "Arrow" producers Andrew Kreisberg and Greg Berlanti as well as their boss Marc Guggenheim. Sarah Schechter is also rumored to help with the spinoff. She is currently working with Kreisberg, Berlanti and Ali Adler on Supergirl.

As it stands, the spinoff does not have a release date yet.