Viacom CBS and Warner Media Looking To Sell The CW

According to WSJ,

WarnerMedia and ViacomCBS Inc. are exploring a possible sale of a significant stake or all of the CW Network, which they jointly own, according to people familiar with the matter.

Among the suitors is Nexstar Media Group Inc.,NXST 1.11% the nation’s biggest broadcaster and a large owner of affiliates of the network, the people close to the talks said. The CW Network caters primarily to teens and young adults.

People close to the talks said they are far along and 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, they said.

This could put all shows at risk including ones in works.

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