Fox Business and other media report
People close to the talks said they are far along and an agreement could be reached soon, though the talks could still fall apart. There are other interested parties as well, but the discussions with Nexstar are most advanced, they said.
The most prevalent scenario is Nexstar’s taking a controlling stake in the CW, with CBS and WarnerMedia remaining as minority owners and receiving commitments to be the primary program suppliers for the network, the people said. For Nexstar, a controlling stake in the CW would represent a significant step in its content aspirations. It already has been investing heavily in a national cable news service called NewsNation.
Nexstar happens to own CW flagships WPIX New York, KTLA Los Angeles and KIAH Houston among others. By the way, Nextstar also owns CT stations WTNH channel 8 and WCTX channel 59 out of New Haven.
Why the deal?
CBS and WarnerMedia have been exploring strategic options for the CW Network for several months, some of the people involved in the talks said. The network isn’t profitable as a stand-alone broadcast entity, but the content produced for it is a valuable asset for other platforms at the parent companies.
Which leads a question, would Supergirl reruns be sent to HBO Max?
