Distribution fees buoy Nexstar, losses at CW trimmed during Q3
Nexstar Media Group saw its overall revenue climb to a record $1.37 billion during its third financial quarter, boosted by an uptick in political ad spend and healthy distribution fees.
The CW Network (“The CW”) is an over-the-air broadcast network that was founded as a joint venture between Warner Bros Television and CBS Corporation. The network is the successor to the WB Network and United Paramount Network (UPN). The CW is majority-owned by Nexstar Media Group, with Warner Bros Discovery and Paramount Global each holding a 12.5 percent minority stake. The CW is headquartered in Burbank, California.
Nexstar Media Group saw its overall revenue climb to a record $1.37 billion during its third financial quarter, boosted by an uptick in political ad spend and healthy distribution fees.
A QR code presented during ACC games will allow fans to get game-day essentials and team merchandise.
Nexstar says it will acquire a television station owned by Winston Broadcasting to create a duopoly in the Cleveland market.
Nexstar Media Group says its president of the CW Network, Dennis Miller, is leaving the company by the end of the year.
“Inside the NFL” will move to Wednesday evenings on the CW Network, while the British import “Joan” heads to Fridays.
The peak of the race on Friday drew more than one million people to the CW Network, the network said, citing Nielsen data.
Nexstar Media Group has announced five new affiliates for its CW Network, and all of them are owned by the company.
More than three dozen Gray Media-owned stations will continue offering CW Network shows and sports for the next few years.
Plex added more than 90 free, ad-supported streaming TV channels to its service around the world in July.
The company earned $1.27 billion in revenue during the quarter, slightly lower than Wall Street estimates.