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The CW Losses Decline By $50M In Q1, But Parent Nexstar Flags Concern About A National TV Ad Sector That Is “Not In A Positive Place”
The CW's losses fell by $50 million in the first quarter, but network parent Nexstar said it is being hurt by slump in national TV advertising.
The CW ‘s losses fell by $50 million in the first quarter and parent Nexstar Media Group still expects the network to turn a profit by next year, but CFO Lee Ann Gliha offered investors some reason for caution. “We’re no longer going to externally disclose the CW numbers separately,” the exec said during the Nexstar first-quarter earnings call when asked about the network’s revenue trends. Total revenue inched up 2% to $1.28 billion, roughly in line with Wall Street forecasts, while earnings per share came in well ahead of expectations, at $5.16 compared with $2.97 in the year-ago quarter.
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