The CW eyes Fox comparison as sports & unscripted focus stems losses

100 Days To Indy

Nexstar CEO Perry Sook has admitted that The CW will look “increasingly like Fox” over time, with plans to adopt a “moneyball” approach to secure the most cost-effective programming.

The US media group, which extended the contract of president Dennis Miller until 2027 earlier this week, acquired The CW from Warner Bros. Discovery and Paramount Global and have since embarked on a cost-cutting mission.

That has included cutting back on Riverdale, Nancy Drew and ‘Arrowverse‘ superhero shows, replacing them with “broader and cheaper programming”.

The approach appears to be paying dividends, with Nexstar reporting that The CW’s Q2 loss was down to $78m from $83m in Q1. Nexstar’s overall results were also positive, with a Q2 profit of $153m.

Moneyball focus on sports & unscripted

The aim is to ensure The CW is profitable by 2025, with CEO Perry Sook outlining that a “Moneyball” approach is being taken to programming with a focus on reality, sports and sports-related series.

“To drive the growth of the network we are making ‘Moneyball-inspired’ investments in content that matters to the broadcast viewer, including live sports, in order to grow our distribution and advertising revenues,” Sook told investors.

Sook pointed to deals that are bringing LIV Golf, college American football and basketball to the network, as well as sports-focused shows such as Inside The NFL, which had been available via Paramount+, and Vice Media’s 100 Days To Indy.

The CEO said such shows were key to the network as it looks to “accelerate the viewership and revenue growth for the CW ecosystem.” The broader Nexstar group, which owns NewsNation and The Hill, is expected to also benefit from the US elections next year.

Sook added that “over time, The CW is increasingly looking like Fox with the same number of hours of weekday programming and its growing live sports portfolio”.

“We’re competing in the same league as the big four networks, but we’ve got to do it smartly and crawl, walk, then run. We’re going to take some smart bets and calculated risks.”