CW to have a new owner

Many news outlets, including The Wrap, indicate that the CW Network is about to be sold. Warner Bros. Discovery and Paramount Global are on the verge of selling the majority stake in the flailing network. The new owner...NEXSTAR.

Nexstar is nearing a deal to acquire 75% of The CW, with parent companies Paramount Global and Warner Bros. Discovery each retaining 12.5% ownership stakes, according to The Wall Street Journal.

Nexstar happens to own some CW stations...notably KTLA in Los Angeles and WPIX in New York. In essence this deal would make them the flagship stations of the CW. Not that it would mean much because....

Nexstar is expected to assume a majority of The CW’s current losses, which could amount to more than $100 million, per the outlet.

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