In September, eight CBS-owned TV stations, including WPCW-TV Pittsburgh, will become independent and drop their affiliation with The CW.
Wendy McMahon is the president and co-head at CBS News and Stations. She said to Variety in a press release that CBS would'reimagine these stations as independents' while also leveraging the value of prime-time real-estate in each market.
This means that the CW national programming, which airs on the channel from Sunday to Friday between 8 p.m. and 10 p.m. will be replaced. This includes "All American," Riverdale" and many other programs based on DC Comics characters, such as "The Flash."
Nexstar Media Group, based in Irving, Texas (NASDAQ:NXST), acquired a majority share of The CW from Paramount and Warner Bros. last October. Discovery retains 12.5% each of the broadcaster. Nexstar can buy the remaining outside stake by 2024. Paramount and WBD may force Nexstar into acquiring their stakes as early as 2026.
Nexstar told Variety in a press release that it was aware that Paramount would be changing the affiliation of these eight stations. Nexstar is 'confident' that The CW Network can continue to reach 100% of U.S. households without interruption. Paramount's move only affects a small portion of The CW’s reach nationwide. We have received many expressions of interest by station groups who want to strengthen their relationship with The CW through the alignment of more of their stations.