Jennifer Maas TV Business Writer Nexstar reported its third-quarter 2023 earnings Wednesday, revealing TV ad revenue was down overall 23% for the July-September quarter.
Meanwhile, the CW network made quarter-over-quarter progress on its path to profitability by narrowing its losses to $60 million.
For the CW, which was formally acquired by Nexstar in October 2022 from Paramount Global and Warner Bros. Discovery, a year-over-year comparison can’t be drawn based on the lack of financial results disclosed publicly by its former parent companies.
But it’s long been known the old CW was not profitable, and this $60 million is an improvement over the $78 million loss the network posted in Q2 and the $83 million loss in Q1.
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