The largest TV station owner in the U.S. wants to unburden Warner Bros. Discovery and Paramount of their joint venture.
Might also be worth of some interest to Star Trek fans, since part of it is what once was Paramount's UPN network (once launched with Voyager as a premiere show), left to rot during Paramount's overall decline and leading to the joint venture in 2006.
It feels like Nexstar has been flirting with buying The CW for longer than some of the broadcast network’s viewers have been alive. The acquisition, which two individuals told IndieWire is likely to close next week after the Fourth of July holiday, will cost Nexstar all of $0 for 75 percent of The CW.
Pretty sweet deal, right? It becomes a little more sour when factoring in The CW’s current losses, which sources who spoke with The Wall Street Journal, the publication that first reported details on this round of negotiations, said could exceed $100 million. But that’s the burden Nexstar would be taking on, and the relief for the respective balance sheets of current CW parents Warner Bros. Discovery and Paramount Global.