Paramount, Nexstar Media renew affiliation agreements

Nexstar Media Group (NXST) and Paramount Global (PARA) announced that Nexstar and its operating partner, Mission Broadcasting have reached comprehensive multi-year agreements to renew CBS Television Network affiliations in 42 markets across the country, including 40 stations owned by Nexstar and two stations owned by Mission. Together, the 42 stations reach 15% of the U.S. audience, serving nearly 19 million television households. In addition, two Paramount-owned independent stations in Miami, Florida, and Detroit, Michigan, both top-20 markets, will become affiliates of The CW Network on September 1. WBFS-TV in Miami and WKBD-TV in Detroit will begin carrying the network’s news, primetime entertainment, live sports, and special event programming at that time. Financial terms were not disclosed.