Discussions to buy the network, which is known for shows like “Riverdale,” “All American,” “The Flash” and “Supernatural,” could result in a deal …
WarnerMedia and ViacomCBS are exploring the possible sale of a significant stake or all of the CW Network, which they jointly own, according to a report late Wednesday.
Irving, Texas- based Nexstar Media Group, which is the nation’s largest owner of TV stations and owner of affiliate stations of the CW in major markets such as New York, Los Angeles and Chicago, is the leading contender, The Wall Street JournalDiscussions to buy the network, which is known for shows like “Riverdale,” “All American,” “The Flash” and “Supernatural,” could result in a deal “soon,” the report said.
The Journal said that CBS and WarnerMedia have been exploring strategic options for the CW Network for several months now. That jibes with AT&T’s mission to unwind expensive media investments like WarnerMedia, in order to focus on its wireless and internet services business. AT&T, which is in the process of divesting its media assets, announced it was combining WarnerMedia with Discovery earlier this year.
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