Business
PARAMOUNT GLOBAL AND NEXSTAR MEDIA RENEW AFFILIATION AGREEMENTS
Multi-Year Renewal Covers CBS Affiliated Television Stations in 42 Markets Owned by Nexstar and Mission Broadcasting, Inc. Paramount-owned Stations in Miami
About this update from Nexstar Media Group, Inc.
[{"type":"text","content":"Multi-Year Renewal Covers CBS Affiliated Television Stations in 42 Markets Owned by Nexstar and Mission Broadcasting, Inc.\nParamount-owned Stations in Miami and Detroit To Become CW Network Affiliates on September 1\nIRVING, Texas and NEW YORK, July 30, 2024 /PRNewswire/ -- Nexstar Media Group, Inc. (NASDAQ: NXST) (Nexstar) and Paramount Global (NASDAQ: PARA, PARAA) (Paramount) today announced that Nexstar and its operating partner, Mission Broadcasting, Inc. (Mission), have reached comprehensive multi-year agreements to renew CBS Television Network affiliations in 42 markets across the country, including 40 stations owned by Nexstar and two stations owned by Mission. Together, the 42 stations reach 15% of the U.S. audience, serving nearly 19 million television households. \n\n \n \n \n \n \n \n\n \nIn addition, two Paramount-owned independent stations in Miami, Florida, and Detroit, Michigan, both top-20 markets, will become affiliates of The CW Network on September 1. WBFS-TV in Miami and WKBD-TV in Detroit will begin carrying the network's news, primetime entertainment, live sports, and special event programming at that time.\nFinancial terms were not disclosed.\nAbout Nexstar Media Group, Inc.Nexstar Media Group, Inc. (NASDAQ: NXST) is a leading diversified media company that produces and distributes engaging local and national news, sports and entertainment content across its television and digital platforms, including more than 310,000 hours of programming produced annually by its business units. Nexstar owns America's largest local television broadcasting group comprised of top network affiliates, with 200 owned or partner stations in 116 U.S. markets reaching 220 million people. Nexstar's national television properties include The CW, America's fifth major broadcast network, NewsNation, our national news network providing \"News for All America,\" popular entertainment multicast networks Antenna TV and Rewind TV, and a 31.3% ownership stake in TV Food Network. The Company's portfolio of digital assets, including its local TV station websites, The Hill and NewsNationNow.com, are collectively a Top 10 U.S. digital news and information property. For more information, please visit nexstar.tv.\nAbout ParamountParamount Global (NASDAQ: PARA, PARAA) is a leading global media, streaming and entertainment company that creates pr...