hyper woke cable channel "the CW" offering 75% stake to Nextstar FOR FREE if they take on $100mm of its debt

[JustinCharge 2,397]

 

[JustinCharge 2,397]

https://www.indiewire.com/2022/06/nexstar-to-buy-the-cw-no-cash-1234737892/

It feels like Nexstar has been flirting with buying The CW for longer than some of the broadcast network’s viewers have been alive. The acquisition, which two individuals told IndieWire is likely to close next week after the Fourth of July holiday, will cost Nexstar all of $0 for 75 percent of The CW.

Pretty sweet deal, right? It becomes a little more sour when factoring in The CW’s current losses, which sources who spoke with The Wall Street Journal, the publication that first reported details on this round of negotiations, said could exceed $100 million. But that’s the burden Nexstar would be taking on, and the relief for the respective balance sheets of current CW parents Warner Bros. Discovery and Paramount Global.