AT&T Inc's WarnerMedia and ViacomCBS Inc are exploring a possible sale of a significant stake or all of the CW Network, which they jointly own, the Wall Street Journal reported late on Wednesday, citing people close to the talks.
The report said an agreement could be reached soon, though the talks could still fall apart. There are other interested parties as well, but the discussions with Nexstar are most advanced, it added.The details of the other parties involved and the exact time by when the deal could be reached was not known immediately, according to the report.
The most prevalent scenario is Nexstar taking a controlling stake in CW, with CBS and WarnerMedia remaining as minority owners and receiving commitments to be the primary program suppliers for the network, the report said.
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