Paramount Global selling large portion of CW Network

August 15, 2022 Off By Eric O'Brien

Variety reported Monday, Nexstar is acquiring 75% of the CW Network from Paramount Global, Warner Bros. Discovery.

If you’re confused by those names, you should be. Warner Bros. Discovery is the result of a recent merger between WarnerMedia and Discovery. Paramount, meanwhile, rebranded from ViacomCBS. Both companies have owned “The CW” (“C” from CBS and “W” from Warner Brothers) since 2006 when WB and UPN merged. These two owners will each retain a 12.5% ownership and will continue to produce content until the time of the sale which is expected to happen before the end of September.

The move is a natural one as Nexstar has produced some of the network programming seen on CW. Nexstar is also the owner of nearly 200 TV stations across the country. That includes WGN in Chicago where they have relaunched and expanded WGN America into News Nation on basic cable. This move may bring News Nation to their owned and operated CW stations and eventually to other affiliates who carry the network.

Within PBRTV’s coverage area, Nexstar owns WTRF (7) Wheeling, WJET (24) Erie – where they also have an LMA with Mission Broadcasting to supply programming for WFXP (66), and WTAJ (10) Altoona. At the current time, it appears none of those stations have any affiliation with CW as most are affiliated with one of “The Big 3.”

Meanwhile in Pittsburgh, Paramount owns KDKA-TV (2) and WPCW (19 Jeannette). It appears unlikely that there will be any ownership changes as a result in Pittsburgh.