After more than six months of negotiations, Nexstar Media Group has struck a deal with Paramount Global and Warner Bros. Discovery to acquire a 75 percent stake in The CW Network. Paramount and WBD will each continue to hold a 12.5 percent stake in The CW and will continue to provide scripted programming for it through the 2022-23 season after the deal closes, which Nexstar expects to happen in Q3. Financial terms were not disclosed, though Variety reports Nexstar is not paying cash, but rather assuming “a large chunk” of The CW’s “more than $100 million” in debt. Continue reading Nexstar Acquiring Majority Stake in The CW in Cashless Deal

The Justice Department is advancing its antitrust probe of Google with a more specific focus on how its third-party advertising business works with advertisers and publishers. The DOJ is also posing more detailed questions to executives inside the company, its rivals, advertising agencies, ad technology companies and publishers among others. Those questions center around Google’s integration of its ad server with its ad exchange, and Google’s requirement for advertisers to use its tools to buy ad space on YouTube. Continue reading DOJ’s Probe Into Google Focuses on Third-Party Ad Tools

AT&T plans to rename streaming service DirecTV Now as AT&T TV Now. Its new streaming service AT&T TV will be tested in a handful of markets; customers will be able to access AT&T TV and AT&T TV Now via the same AT&T TV app on mobile devices and/or connected TVs. To continue service, DirecTV Now subscribers will have to accept AT&T’s terms of service, and will then be able to log in with the same credentials. AT&T, which has not released pricing information for the new services yet, lost about two million traditional pay-TV subs last year.  Continue reading AT&T Readies Streaming Service, Rebrands DirecTV Now

At NAB 2019 in Las Vegas, a coalition of U.S. broadcasters announced that the new TV standard, ATSC 3.0, will roll out to 40 markets by the end of 2020. The capabilities of ATSC 3.0, which is based on an IP (Internet Protocol) network, include 4K, HDR and over-the-air mobile reception of TV content. TVNewsCheck contributing editor Glen Dickson, who moderated a panel of broadcasters and others involved with the advanced TV standard, noted that the announcement is “a big boost” to ATSC 3.0’s fortunes. Continue reading TV Broadcasters and Set Manufacturers Promote ATSC 3.0

Texas-based Nexstar Media Group has inked a deal to acquire Tribune Media for about $4.1 billion, which will make Nexstar the largest local U.S. TV operator. The news comes on the heels of Sinclair Broadcast Group’s thwarted deal to purchase Tribune for $3.9 billion, which fell through due to regulatory issues. According to sources, Nexstar made an all-cash offer for Tribune, valued at around $46.50 per share. The company, which has a market capitalization of $3.8 billion, was also able to outbid private equity firm Apollo Global Management. Continue reading Tribune Deal to Make Nexstar Top Local TV Operator in U.S.