The CW has laid off several employees across its publicity and program development teams, Variety has learned.
A source near the situation tells Variety that just over two dozen employees have been affected on this round of reductions. The person says that the choice was made because the network focuses more one sports, unscripted content and choose scripted series in its continued goal to succeed in profitability under latest owner Nexstar.
Representatives from CW and Nexstar didn’t immediately reply to request for comment Tuesday.
The brand new cuts come lower than a month after the Nexstar-owned broadcast network announced CW network president Dennis Miller was exiting his role following just two years within the position.
Miller had been running the CW since appointed by Nexstar CEO Perry Sook in fall 2022 alongside CW president of entertainment Brad Schwartz, and prolonged his contract as president on the CW through 2027 last August.
On Oct. 16, it was announced Miller can be exiting at the top of the yr, and Schwartz took over Miller’s title and responsibilities as network president when he shifted into an advisory role Oct. 31.
Last week, Nexstar reported its third-quarter earnings results, which revealed the CW narrowed its losses by $36 million from July 1-Sept. 30. Nonetheless, the network’s total remaining loss was not disclosed by Nexstar, which has owned the broadcaster since acquiring a majority stake from former parent corporations Warner Bros. Discovery and Paramount in 2022.
“In the course of the quarter, we made further progress on our strategy for The CW, reducing operating losses by $36 million year-over-year and by $119 million year-to-date,” Nexstar CEO Perry Sook said on the time. “We debuted NASCAR Xfinity Series racing in September and WWE NXT wrestling in October on The CW broadcast network to double-digit percentage increases each in total audience and in adults 18-49 versus previous viewership on cable.”
