Details about Nexstar’s deal to acquire the television network, The CW, revealed that their 75% share was offered essentially for free.


New details of the deal in which Nexstar acquired The CW reveal that the network was essentially given away for free. After reporting that the network (which took the place of The WB) had not recorded a profit since it was created in 2006, its parent companies Paramount and Warner Bros. Discovery put it up for sale. In August of this year, a deal was finalized for the Texas-based media company Nexstar to take a 75% stake in The CW.


today, The Hollywood Reporter shared further details on the deal in which Nexstar acquired The CW. In their breakdown, it was revealed that their 75% stake was given away for free. Once accounts receivable and payable as well as accumulated cash are factored into the deal, this translates to the company receiving about $54 million for the deal, so essentially, Nexstar was paid to take The CW off their hands.

SCREENRANT VIDEOS OF THE DAY

Related: Why The CW Should Still Make A Wayward Sisters Supernatural Spinoff


The Troubling Future of The CW’s Current Programming

The Winchesters cast 3

For fans of The CW and their programming, which includes widely popular franchises like Riverdale, Supernatural, walker, and the Arrowverse (a family of shows starring various heroes from DC Comics), the network changing hands has been a nail-biting experience. Many shows that were waiting for renewals remained on the bubble while the company was being put on the market, the long wait ending with the network taking the ax to a huge proportion of their slate, canceling a slew of series including the Arrowverse series DC’s Legends of Tomorrow, Naomiand Batwoman. They afterward revealed that many of the series that had already been renewed – including Riverdale and The Flash – would have their next seasons become their last.

Despite so much of their slate being culled, The CW still launched several new series this year. This includes the Supernatural prequel The Winchesters and the walker prequel Walker: Independence. However, during Nexstar’s quarterly earnings call in early November, CFO Lee Ann Gliha revealed that a minimal amount of the current slate of shows will still be on the air for the 2023-2024 season, as the company transitions the network toward creating originals rather than licensing series. This means that the current lineup – which also includes All American and the reboot of Kung Fu – could change substantially one more time before the dust settles.

Essentially, any currently running scripted programs on The CW will need to deliver an incredibly strong season in order to justify their continued existence on the network. Should any of the current slate survive, it seems likely it would be one or more of the franchised titles. The Winchesters belongs to the Supernatural universe, which has been the bread and butter of the network for nearly two decades, for instance. Likewise, the fact that walker has already garnered a spinoff – in addition to starring Supernatural alum Jared Padalecki – likely means he has enough legs to at least carry on in its main branch.

More: Superman & Lois Season 2 Repeats The Worst The CW MistakeSource: THR

Leave a Reply

Your email address will not be published. Required fields are marked *

Explore More

Why USA Network’s Colony Is Still Missed

September 6, 2023 0 Comments 5 tags

The fate of the protagonist family in the series, the Bowmans, is left up in the air as they spent the first two seasons in an alien-controlled colony in Los

9 Twitter alternatives, like Mastodon and Hive Social

November 27, 2022 0 Comments 5 tags

Users began fretting about the end of Twitter as soon as Tesla Inc. TSLA, -0.19% CEO Elon Musk announced plans to purchase the service earlier this year, when he teased

Should Calgary dismantle its Plus 15 skywalk network? -Calgary

December 1, 2022 0 Comments 5 tags

Fifteen feet above ground, Calgary is buzzing. Inside’s Calgary’s Plus 15 network is an extensive network of shops, businesses, buskers and downtown commuters. And that has some wondering if the