Nexstar CEO Perry Sook says the Hollywood community has “responded” to the company’s overhaul of The CW, and sports rights conversations have been “steady” since the company started airing LIV Golf this year. “They’re talking to everybody in Hollywood,” Sook said of CW chief Dennis Miller and programming head Brad Schwartz. “One of the most pleasant surprises following our takeover is that when we said that the doors are open, let’s talk about doing business, the community responded.
It’s in everybody’s best interest that there’s a viable fifth network competitive out there.” Sook delivered the comments during the company’s first quarter earnings call, adding that The CW has limited exposure to the WGA strike given its new focus on unscripted fare.
Earlier Tuesday, Nexstar reported diluted earnings per share of $2.97, which was down significantly from the $5.99 it posted in the political-ad-fueled 2022 period but better than Wall Street analysts’ consensus expectation.
Total revenue also topped forecasts, increasing 4% to $1.257 billion. Last September 30, Nexstar obtained a 75% stake in The CW, with previous 50-50 partners Paramount and Warner Bros Discovery retaining 12.5% apiece.
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