The Flash: CW TV station acquired and expected to achieve profitability in 2025

According to an announcement published yesterday (Monday, August 15) on Business Wire, Nexstar Media Group has agreed to acquire 75% ownership of The CW Television Stations. The transaction is “expected to increase ratings, revenue and earnings opportunities for The CW and its affiliates.”

Warner Bros. Discovery and Paramount International will each retain a 12.5% ​​stake in The CW and continue to produce scripts and content for the network. According to Deadline, Nexstar Media Group, which also owns Food Network and Cooking Channel, among other companies, has reportedly spent months considering the deal, but the deal was not confirmed until the SEC filing and accompanying announcement.

Chief Financial Officer Lee Ann Ghlia said the goal is to make The CW profitable by 2025. "It's no secret that The CW is unprofitable," Ghlia told Deadline. "But that's not typical for a fully distributed broadcast or cable network. In fact, no other broadcast network is consistently losing money, according to SNL Kagan." Gliha said The CW will receive a "low nine figures" investment over the next three years while other initiatives start moving forward so the network can "get to profitability."

The transaction is expected to close in the third quarter.

During this transition, Mark Pedowitz will continue to serve as CEO of The CW. Channing Dungey, head of Warner Bros. Television Group, said: "We are forever grateful to our partners at The CW, especially Mark Pedowitz, who has been a great friend of the studio and a close friend of mine for many years. We know that under his leadership, the network will continue to thrive."

The CW is considered one of the "Big Five" broadcast networks in the United States, along with NBC, ABC, CBS, and FOX.

The CW has been canceling a number of shows in preparation for the sale, and earlier this month it announced that The Flash would end after its upcoming ninth season.