Nexstar Media Group Inc. will look to buy content from various studios as it works to bolster its acquisition of the money-losing CW Network.
(Bloomberg) — Nexstar Media Group Inc. will look to buy content from various studios as it works to bolster its acquisition of the money-losing CW Network.
“It’s going to be an open casting call,” Tom Carter, president of the Irving, Texas-based broadcaster, said at an investor conference on Wednesday. “Bring us your best ideas.”
Carter said CW Network has historically purchased shows from its owners Paramount Global and Warner Bros. Discovery Inc. Nexstar on Aug. 15 agreed to acquire a 75% interest in the network for no cash consideration. Warner Bros. and Paramount will each retain a 12.5% share, the company said in a filing.
The CW is the lowest-rated broadcast network, with programming targeted for an audience of 18-to-34-year-olds, while the average age of CW viewers is 58, Carter said on an Aug. 15 call.
Separately, Nexstar said a new prime-time news program featuring former CNN anchor Chris Cuomo as a host will debut Oct. 3 on its NewsNation cable network.
Nexstar calls itself the largest US television station owner, with 200 broadcast stations, including partner stations, in 116 markets.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
