Parent Company of Augusta TV Station Buys A Large Share Of A Network
NEW YORK, NY - MAY 16: Dougray Scott attends the 2019 CW Network Upfront at New York City Center on May 16, 2019 in New York City. (Photo by Dia Dipasupil/Getty Images)
Nexstar Media, the company that owns WJBF here in town is buying a 70% share of the CW Network.
During the call, announcing the deal, Tom Carter, the President of Nexstar said the CW would shift its programming from a teen and young adult audience to make it more appealing to an older demographic. They also plan on making the network profitable by 2025.
The exact terms of the deal weren’t disclosed, but Nexstar is expected to assume $100 million of the network’s debt.
Nexstar is currently the largest local broadcasting company in the US with 200 stations in 116 markets and was previously the CW’s largest affiliate.
Again, Nexstar owns WJBF, here in Augusta
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