Strike Impact On The CW “Won’t Hurt Our Forward Progress,” Nexstar CEO Perry Sook Says: “We Kind Of Like Our Chances In This Chaotic Environment”
08.08.2023 - 15:43
/ deadline.com
UPDATED with additional strike comments. The CW had to delay four scripted shows produced by minority stakeholders Warner Bros. Discovery and Paramount due to the writers and actors strikes, but it does not expect any further impact from the labor impasse.
That’s the view from Perry Sook, CEO of CW parent Nexstar Media Group, who addressed the strike and other topics during an hour-long quarterly earnings call with Wall Street analysts.
“The farther the strike goes on, they get pushed further and further into 2024,” Sook conceded about the four scripted shows initially slated for 2023-24. And yet, slots given to acquired titles that were produced pre-strikes will give The CW “the most scripted as a percentage of our schedule of any of the Big 5 broadcast networks going into the fall,” Sook maintained. “We also have some more high-profile and noisy reality shows, which will bring attention to the network as well. So, we kind of like our chances in this chaotic environment. When others are afraid, we tend to take some big swings.”
Financially, The CW is still in the red due to its previous emphasis on scripted dramas, though Nexstar has pledged to turn it profitable by 2025.
PREVIOUS: The CW is starting to resemble Fox, according to Perry Sook, CEO of the network’s parent, Nexstar Media Group.
“If you think about it, over time, with the same number of hours of weekday programming and its growing live sports portfolio, The CW is increasingly looking like Fox,” Sook said on the company’s quarterly earnings call. The addition of Mike Biard, a longtime Fox vet who recently was appointed COO of Nexstar, Sook added, means “we have the team to get us where we want to go.”
Addressing the strike by writers and actors, Sook said,