Nexstar Media Group said its The CW Network has reached a comprehensive multi-year retransmission agreement with streaming virtual multichannel video programming distributor YouTube TV, which will continue carrying The CW-affiliated stations nationwide.
Nexstar also got carriage for its MyNet affiliates, independent stations and its NewsNation cable network.
The deal may indicate that major station groups have found a way to make deals they feel gives them appropriate value with vMVPDs.
Nexstar and other major broadcasters had rejected a deal the CBS negotiated for its affiliates with streaming vMVPD Fubo TV.
On Friday, though, the CBS affiliate board said the network had come back with a better proposal covering FuboTV, Hulu Plus Live TV, YouTube TV and Paramount Plus. Nexstar said its CBS affiliates would take the new deal with YouTube TV. Other big station groups were also expected to opt in to the new CBS agreement.
"Both deals indicate vMVPDs are not indifferent to local content" in making deals for network programming, Wells Fargo analyst Steven Cahall said in a note on Monday.
On Nexstar’s fourth-quarter earnings call, chief operating officer Tom Carter said ”we will not be accepting any deals that discount the value of the content our stations deliver to these platforms.”
Financial terms of the YouTube TV deal with The CW were not disclosed.
"These agreements with YouTube TV underscore the importance of Nexstar’s national and local content on its platform,” Carter said in a statement about the new deal with YouTube TV.
“We are extremely pleased to have reached agreement to continue carriage of its The CW-affiliated stations on YouTube TV, especially as we move forward with our plans to transform The CW with additional sports programming and a new slate of prime-time entertainment shows this fall,” said Dennis Miller, president of The CW Network. “YouTube TV is an important partner for our affiliates and us, and we look forward to expanding our relationship and growing our audience via this dynamic platform.
In addition to primetime programming, The CW said its new deal means YouTube TV will be streaming LIV Golf, the controversial Saudi-backed golf league. ■
