Launching with Arrow in 2012, the DC TV universe has expanded to include The Flash and - coming in 2016 - Legends of Tomorrow.
"We have no intention of spinning anything else out," Pedowitz declared at this year's TCA summer press tour.
"Last year at this time, we had no intention of doing [a third] DC project. But as characters were introduced on Arrow and The Flash, we began to realise this was a great opportunity to create the third leg of the stool."
Over-crowding was part of the reason The CW passed on a Supergirl series - with the show instead launching on CBS this fall - a decision Pedowitz now regrets.
"We had Arrow and Flash [at the time] and we were not planning to do another DC character," he explained. "In hindsight, we probably should've gone [in] that direction - sometimes you lose great shows."
No fourth DC show means that Constantine - officially axed by NBC in June - won't be revived by The CW either, even though Matt Ryan will reprise his role as the Hellblazer hero on Arrow this season.
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Ex-showrunner Daniel Cerone described the crossover as a "nice bonus" on Twitter - adding that there are "no plans" to permanently bring back Constantine, on any network.
For those asking, no plans past #Arrow that I know of for #Constantine. Actors, writers and crew released. Still a nice bonus. #Hellblazers
ā Daniel Cerone (@DanielVCerone) August 12, 2015
Still, with Arrow returning for a fourth season, and The Flash coming back for a second, this October - with Legends of Tomorrow premiering next year - it's not exactly a bad time to be a DC Comics fan.
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Watch a teaser for The CW's next epic - Legends of Tomorrow - below:
