Nexstar in Negotiations to Acquire Stake in the CW Network
A representative for Nexstar declined to comment. CBS and WarnerMedia could not immediately be reached for comment late Wednesday. News of the talks wereNexstar, based in Irving, Texas, is the nation’s largest owner of TV stations and the core affiliate group for the CW in major markets such as New York, Los Angeles and Chicago.
The deal that is coming together would have Nexstar take the majority interest in the network while ViacomCBS and WarnerMedia would retain minority stakes and commit to providing programming for the network. The CW’s primary reason for existing over the past decade has been to serve as a launch platform for content produced by ViacomCBS and WarnerMedia, seeding shows that make money through international sales and syndication rights.
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