Post by jdv on Jul 5, 2022 15:37:50 GMT -5
The CW, perhaps the "woke-ist" of all OTA networks, has racked up an impressive amount of debt since they went all-in on virtue signalling....
"Warner Bros. Discovery Inc. and Paramount Global, co-owners of The CW, are getting closer to agreeing on a deal to sell the controlling stake of the broadcast network to Nexstar Media Group. Should the deal go through, it would see the controlling stake of The CW change for the first time in fifteen years, since the network's launch.
According to the Wall Street Journal, should the deal move to completion, Nexstar will have 75% control of The CW, with the remaining 25% stake of the network split evenly between Paramount and Warner Bros. Discovery at 12.5% each.
According to the Wall Street Journal, should the deal move to completion, Nexstar will have 75% control of The CW, with the remaining 25% stake of the network split evenly between Paramount and Warner Bros. Discovery at 12.5% each.
Nexstar is the biggest owner of local television stations in the US, and the deal for The CW stake will not be one where cash changes hands in the normal sense. This deal will see Nexstar cover the network's debts, which have risen to $100 million."
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Only a $100,000,000.00 in debt? Why, that counts as a success story for modern corporations!
We're really only now starting to see the real-world effect that corporate woke-ism is having on the corporations who went in whole hog. And that effect has been universally negative in a financial sense.
While it might keep the twitter outrage bots at bay, in the real world no one wants to be lectured by a lesbian in a batwoman suit who has the same appeal as a wet cardboard box... or by anyone else for that matter.
Oddly enough, people mostly just want to see BAMS! and WHAMS! and pew-pews in their escapist fodder w/o being told they are homophobic racists who need to learn valuable life lessons.
Thus you see massive stock plummets at Disney, huge subscriber losses at Netflix, the lowest ratings in CNN's post Gulf War I history, and the CW (a formally viable network) literally being sold for less than a dollar.
Warner's is clearly starting to learn that lesson. If approved (and there's no reason it won't be), it will be yet another example of the woke/broke paradigm. More specifically, it provides yet another clue that Warners - who just lost millions on the disaster that was CNN+ - will be looking to fire literally everyone at the struggling "news" network, rumors of which have been swirling long before this CW fire sale.
In a semi-related story, Netflix just cancelled a gay super-hero series called Q FORCE as - get this! - apparently just having bi-actors parade around in skin tight latex suits acting butch wasn't gay enough for the struggling network. Turns out, it might have been too gay, even for gays.
All this as TOP GUN II destroys box office records.
Perhaps the new owners ought to talk to this guy about CW's programing....