Despite an impasse between Paramount Global and FuboTV, which has kept Nexstar stations off the air for weeks, Nexstar President and COO Tom Carter has a relatively upbeat outlook on pay-tv’s future.
“We are projecting subscriber attrition,” he said, with recent gains on internet-delivered bundles like Fubo, YouTube TV, Hulu + Live TV and others failing to offset deeper declines in traditional cable and satellite. “But make no mistake about it — we do not see a cliff. We’re not at a precipice here, or at a point in time where we’re at an inflection point.”
Carter made the comments in an appearance with Nexstar CFO Lee Ann Gliha at the Morgan Stanley Technology, Media and Telecom Conference.
Rather than a cliff or inflection point, Carter says, Nexstar expects more of a plateau. The company, which owns the largest collection of U.S. TV stations as well as national...
“We are projecting subscriber attrition,” he said, with recent gains on internet-delivered bundles like Fubo, YouTube TV, Hulu + Live TV and others failing to offset deeper declines in traditional cable and satellite. “But make no mistake about it — we do not see a cliff. We’re not at a precipice here, or at a point in time where we’re at an inflection point.”
Carter made the comments in an appearance with Nexstar CFO Lee Ann Gliha at the Morgan Stanley Technology, Media and Telecom Conference.
Rather than a cliff or inflection point, Carter says, Nexstar expects more of a plateau. The company, which owns the largest collection of U.S. TV stations as well as national...
- 3/7/2023
- by Dade Hayes
- Deadline Film + TV
Nexstar is still dark on internet streamer FuboTV; on Tuesday, the TV station group giant’s president and chief operating officer explained why.
“We are in a dispute with CBS right now over the Fubo situation,” Tom Carter said during a Morgan Stanley-hosted investor conference. “But keep in mind that virtual MVPDs contribute less than 10% of our distribution revenue and our distribution revenue is about half of our total revenue and Fubo is the smallest vMVPD we deal with. So we’re talking about a relatively minor amount of money, quite honestly, to both us and CBS. So it’s kind of easy to pick Fubo as a fight to have.”
Nexstar executive vice president and chief financial officer Lee Ann Gliha noted: “We view this as a CBS-only issues and it’s just driven by the specific issues that surround the CBS situation.”
In February, Nexstar, along with station groups Sinclair,...
“We are in a dispute with CBS right now over the Fubo situation,” Tom Carter said during a Morgan Stanley-hosted investor conference. “But keep in mind that virtual MVPDs contribute less than 10% of our distribution revenue and our distribution revenue is about half of our total revenue and Fubo is the smallest vMVPD we deal with. So we’re talking about a relatively minor amount of money, quite honestly, to both us and CBS. So it’s kind of easy to pick Fubo as a fight to have.”
Nexstar executive vice president and chief financial officer Lee Ann Gliha noted: “We view this as a CBS-only issues and it’s just driven by the specific issues that surround the CBS situation.”
In February, Nexstar, along with station groups Sinclair,...
- 3/7/2023
- by Jennifer Maas
- Variety Film + TV
Tom Carter, president and COO of The CW parent Nexstar Media Group, said the debut of Saudi-backed Liv Golf in late-February was a hit and could help pave the way for more sports coming to the network.
“It was very successful from our perspective,” Carter said during an appearance at the Morgan Stanley Technology, Media and Telecom Conference. He said the average hourly audience was about 500,000, which he said was one-quarter to one-third the size of rival PGA Tour broadcasts of the same weekend’s Honda Classic. “But the PGA’s been around for 40 years and this was Liv’s first broadcast. So, we’re very excited about it.”
Nexstar acquired 75% ownership of The CW last fall for no upfront cash or stock considerations, instead agreeing to take on the debt of the network that had been a “financial disaster,” in Carter’s words. Prior joint venture partners Paramount and...
“It was very successful from our perspective,” Carter said during an appearance at the Morgan Stanley Technology, Media and Telecom Conference. He said the average hourly audience was about 500,000, which he said was one-quarter to one-third the size of rival PGA Tour broadcasts of the same weekend’s Honda Classic. “But the PGA’s been around for 40 years and this was Liv’s first broadcast. So, we’re very excited about it.”
Nexstar acquired 75% ownership of The CW last fall for no upfront cash or stock considerations, instead agreeing to take on the debt of the network that had been a “financial disaster,” in Carter’s words. Prior joint venture partners Paramount and...
- 3/7/2023
- by Dade Hayes
- Deadline Film + TV
Nexstar Media Group, which has long been known for its enviable balance sheet and knack for finding ways to economize, plans to fund its investment in The CW with proceeds from its sale of a Chicago property to a casino developer.
While the company’s drive to wring profits out of The CW and also its pending sale of the Freedom Center have both been publicly disclosed, the dots were connected by CFO Lee Ann Gliha today at a conference hosted by investment firm Stephens. Nexstar President and COO Tom Carter also took part in the conference session.
Nexstar closed its acquisition of 75 of The CW last month, paying nothing up front but agreeing to take on the network’s debt and absorb its losses. Previous 50-50 partners Paramount Global and Warner Bros Discovery retained 12.5 stakes apiece. The money-losing network is expected to undergo a dramatic overhaul as Nexstar seeks...
While the company’s drive to wring profits out of The CW and also its pending sale of the Freedom Center have both been publicly disclosed, the dots were connected by CFO Lee Ann Gliha today at a conference hosted by investment firm Stephens. Nexstar President and COO Tom Carter also took part in the conference session.
Nexstar closed its acquisition of 75 of The CW last month, paying nothing up front but agreeing to take on the network’s debt and absorb its losses. Previous 50-50 partners Paramount Global and Warner Bros Discovery retained 12.5 stakes apiece. The money-losing network is expected to undergo a dramatic overhaul as Nexstar seeks...
- 11/16/2022
- by Dade Hayes
- Deadline Film + TV
When Warner Bros Discovery CEO David Zaslav wanted to make a forceful first impression at the company’s upfront last spring, he used words designed to dazzle the audience of ad buyers.
The newly merged company, he declared, would now stand “shoulder-to-shoulder” with the broadcast networks in terms of scale and reach. Three decades after Fox became the fourth major network, Zaslav said, Wbd “makes the number five.”
Today’s news out of NBCUniversal suggests that not everyone is as eager as Zaslav to be part of the broadcast club. A person familiar with NBCU conversations confirmed to Deadline that execs are considering a plan to potentially ditch an hour of primetime programming each night and hand back the 10 p.m. block to affiliates. The Wall Street Journal had the first report on those deliberations.
No final determination has been made, and the earliest a move could happen would be...
The newly merged company, he declared, would now stand “shoulder-to-shoulder” with the broadcast networks in terms of scale and reach. Three decades after Fox became the fourth major network, Zaslav said, Wbd “makes the number five.”
Today’s news out of NBCUniversal suggests that not everyone is as eager as Zaslav to be part of the broadcast club. A person familiar with NBCU conversations confirmed to Deadline that execs are considering a plan to potentially ditch an hour of primetime programming each night and hand back the 10 p.m. block to affiliates. The Wall Street Journal had the first report on those deliberations.
No final determination has been made, and the earliest a move could happen would be...
- 8/27/2022
- by Dade Hayes
- Deadline Film + TV
As it transitions to new ownership, the CW will likely not look dramatically different in the near term, but Nexstar Media Group intends to turn it into a more broad-audience and cost-conscious broadcast network.
The company earlier Monday confirmed it is set to take a 75 ownership stake in the network, with previous 50-50 owners Paramount Global and Warner Bros Discovery each retaining 12.5. The transaction will formally close in the next few weeks.
Executives articulated some of their initial plans during a 15-minute conference call with Wall Street analysts, though the presentation included only prepared remarks and no Q&a period.
After Nexstar CEO Perry Sook kicked off the call to reaffirm the rationale for the deal, which will see the company absorb the CW’s debt but not pay any cash or stock up front, other executives delivered more tangible news.
CFO Lee Ann Gliha said the goal is to...
The company earlier Monday confirmed it is set to take a 75 ownership stake in the network, with previous 50-50 owners Paramount Global and Warner Bros Discovery each retaining 12.5. The transaction will formally close in the next few weeks.
Executives articulated some of their initial plans during a 15-minute conference call with Wall Street analysts, though the presentation included only prepared remarks and no Q&a period.
After Nexstar CEO Perry Sook kicked off the call to reaffirm the rationale for the deal, which will see the company absorb the CW’s debt but not pay any cash or stock up front, other executives delivered more tangible news.
CFO Lee Ann Gliha said the goal is to...
- 8/15/2022
- by Dade Hayes
- Deadline Film + TV
Nexstar Media Group, Inc. said Monday that it will acquire 75 ownership interest of The CW from Warner Bros. Discovery and Paramount Global. The previous co-owners, who’ve been partners on The CW since 2006, will retain 12.5 ownership each and continue producing original scripted programming for the broadcaster.
The CW’s current chairman and chief executive officer Mark Pedowitz will continue to stay in the role with responsibility for day-to-day operations. Nexstar is the largest local television and media company with 200 broadcast stations in 116 markets.
Under Chairman and CEO Perry Sook, Nextstar is expected to close the transaction in the third quarter. Currently the largest CW affiliate group and the U.S. market’s largest local television broadcasting company, Nextstar didn’t disclose the terms of the deal; the Wall Street Journal reported in June, however, that the company was not expected to pay cash but would instead assume up to 100 million...
The CW’s current chairman and chief executive officer Mark Pedowitz will continue to stay in the role with responsibility for day-to-day operations. Nexstar is the largest local television and media company with 200 broadcast stations in 116 markets.
Under Chairman and CEO Perry Sook, Nextstar is expected to close the transaction in the third quarter. Currently the largest CW affiliate group and the U.S. market’s largest local television broadcasting company, Nextstar didn’t disclose the terms of the deal; the Wall Street Journal reported in June, however, that the company was not expected to pay cash but would instead assume up to 100 million...
- 8/15/2022
- by Benjamin Lindsay
- The Wrap
Click here to read the full article.
The CW is getting new ownership.
The broadcast network, currently run as a joint venture between Warner Bros. Discovery’s Warner Bros. TV and Paramount Global’s CBS Studios, is selling a 75 percent stake to the local broadcast giant Nexstar. Paramount and Warner Bros. Discovery will each retain a 12.5 percent stake in the venture.
The CW will also continue to order programming from the two entertainment giants, though Nexstar is likely to look elsewhere for originals as well.
During a call to discuss the deal, Nexstar executives said their plan is to bring The CW to profitability by 2025. Nexstar CEO Perry Sook touted the buy as a way to diversify his company’s content portfolio and strengthen its appeal to advertisers by increasing its exposure to the national ad market. “So, over time, we will be taking a different approach to our CW...
The CW is getting new ownership.
The broadcast network, currently run as a joint venture between Warner Bros. Discovery’s Warner Bros. TV and Paramount Global’s CBS Studios, is selling a 75 percent stake to the local broadcast giant Nexstar. Paramount and Warner Bros. Discovery will each retain a 12.5 percent stake in the venture.
The CW will also continue to order programming from the two entertainment giants, though Nexstar is likely to look elsewhere for originals as well.
During a call to discuss the deal, Nexstar executives said their plan is to bring The CW to profitability by 2025. Nexstar CEO Perry Sook touted the buy as a way to diversify his company’s content portfolio and strengthen its appeal to advertisers by increasing its exposure to the national ad market. “So, over time, we will be taking a different approach to our CW...
- 8/15/2022
- by Alex Weprin and Lesley Goldberg
- The Hollywood Reporter - Movie News
Amazon Studios and MacRo Television Studios have partnered with Ava DuVernay’s Array Filmworks to bring Nebula- and Hugo Award-winning author Octavia Butler’s classic 1987 science-fiction novel, “Dawn,” to the small screen.
In what remarkably is the first time that the Science Fiction Hall of Famer’s work has been adapted, Victoria Mahoney, who served as second unit director on “Star Wars: The Rise of Skywalker,” will pen the series and will also direct the pilot.
“Dawn” is the first book in Butler’s “Lilith’s Brood” trilogy (formerly “Xenogenesis”). It tells the story of an African-American woman who enlists the help of aliens to resurrect the human race, 250 years after a nuclear war. Its official synopsis reads:
Lilith Iyapo has just lost her husband and son when atomic fire consumes Earth — the last stage of the planet’s final war. Hundreds of years later Lilith awakes, deep in the...
In what remarkably is the first time that the Science Fiction Hall of Famer’s work has been adapted, Victoria Mahoney, who served as second unit director on “Star Wars: The Rise of Skywalker,” will pen the series and will also direct the pilot.
“Dawn” is the first book in Butler’s “Lilith’s Brood” trilogy (formerly “Xenogenesis”). It tells the story of an African-American woman who enlists the help of aliens to resurrect the human race, 250 years after a nuclear war. Its official synopsis reads:
Lilith Iyapo has just lost her husband and son when atomic fire consumes Earth — the last stage of the planet’s final war. Hundreds of years later Lilith awakes, deep in the...
- 2/26/2020
- by Tambay Obenson
- Indiewire
Exclusive: Anonymous Content has acquired Burn, the upcoming true-crime thriller by A.J. Wolfe. The producer is teamed on the feature film adaptation with Oscar winning Moonlight star Mahershala Ali. He will star in the film and be executive producer. Anonymous Content’s Nicole Clemens and Kevin Cotter will produce it. The book will be adapted by Fredrick Kotto, the former detective-turned-screenwriter. Kotto and Artillery Creative's Tom Carter will also be executive…...
- 11/17/2017
- Deadline
Exclusive: John Legend is behind a music special, which is in series consideration at Showtime. The nine-time Grammy Award winner hosts and executive produces the project, which had a private taping recently at the historic EastWest Studios in Los Angeles. The untitled show features top artists from different genres who discuss their careers and perform an original musical collaboration before live studio audience. The first taping, directed by Jesse Dylan (Kicking & Screaming), son of music icon Bob Dylan, included a live performance from country star Faith Hill singing her new single “You’re The One Whose Waiting”, which was co-written by Legend, and a solo performance by rapper B.o.B of the single “Ghost in the Machine.” The show wrapped with a live rendition of “Son of a Preacher Man” with Legend on piano, Hill on lead vocals, and an original rap written and performed by B.o.B.
- 2/8/2012
- by NELLIE ANDREEVA
- Deadline TV
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