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Carsey-Werner's Declaration: Independence!

Carsey-Werner-Mandabach will remain one of Hollywood's last independent production houses. The company's three partners announced Tuesday that they do not plan to sell.

"We wanted to examine all of our options to determine the best way for us to move forward as a creative entity," said partner Tom Werner. "Our investment bankers at UBS presented us with some very interesting and thoughtful proposals, but after careful analysis we decided that independence remains the best way for us to navigate the changing waters of the television business."

Werner, Marcy Carsey and Caryn Mandabach together run the company, which produces That 70s Show and Grounded for Life. CWM, in business for more than 20 years, also owns a TV library that includes The Cosby Show, Roseanne, 3rd Rock From the Sun, Grace Under Fire, Cybill, Cosby and A Different World.

It also runs CWM Films, which has a deal with Paramount Pictures. The three partners also have an investment in cable network Oxygen