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The Wall Street Journal reported on January 5, 2022, that Nexstar was a potential leading buyer of The CW, as the network's then-co-owners ViacomCBS and WarnerMedia explored options in selling a majority stake in the joint venture network; the three companies had yet to comment on the WSJ report.[111] In late August, as confirmation to another WSJ report made last June,[112][113] Nexstar announced that it has "entered a definitive agreement" to acquire 75% ownership in the network, while Paramount and WBD would each retain 12.5% ownership.[114] Based on media industry reports, Nexstar would reportedly assume "a significant portion" of the network's current losses. The deal did not require regulatory approval, but had to perform financial closure conditions at the company's fiscal third quarter, i.e. by the start of October 2022, in order to complete the transaction; thus, Nexstar took over operations of the network on August 15.[115] The transaction was completed on October 3.[116] Following Nexstar's purchase of The CW, Paramount's CBS News and Stations division was given the right to have its eight CW stations (WPSG in Philadelphia, WUPA in Atlanta, KBCW in San Francisco, KSTW in Seattle, WTOG in Tampa Bay, WKBD in Detroit, KMAX in Sacramento, and WPCW in Pittsburgh) disaffiliate from the network; such right was announced on May 5, 2023, when the aforementioned stations would become independent on September 1. Nexstar responded to the move by stating that it would find See more

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