Nexstar and Paramount have struck a multiyear renewal of their affiliate agreement for CBS TV stations across 42 markets, the media companies announced Tuesday.
These stations include 40 owned by Texas-based Nexstar and two stations owned by Nexstar’s operating partner Mission Broadcasting. Combined, those stations make up 15% of the U.S. audience, reaching close to 19 million TV households.
As part of the deal, two of Paramount’s independent stations in Miami (WBFS-TV) and Detroit (WKBD-TV) will become affiliates of Nexstar’s CW network beginning Sept. 1, airing the network’s news, primetime entertainment, live sports and special event programming.
Financial terms of the deal, which was closed amid an ongoing proposed sale of Paramount to Skydance, were not disclosed.
This renewal pact comes just shy of two years after Nexstar announced plans to acquire majority ownership of the CW from Paramount and Warner Bros. Discovery, who at the time jointly owned 75% of the broadcaster. Since closing its purchase of the CW, Nexstar has revamped the network’s programming lineup, capitalizing on sports programming, internationally produced content and reality TV.
Nexstar is the successor owner of Tribune Broadcasting, the station group that formed the core of CW predecessor the WB Network. Tribune was a partner with Warner Bros. in the venture from its 1993 origins, and it hung in through the network’s rocky early years after its on-air launch in 1995. Tribune Co. has been through several rounds of M&A and owners, including the most recent $4.1 billion sale in 2019 to Nexstar.
Source Agencies
