Paramount is Looking to SELL a Major TV Station in Philly, Reports Say

A new report says that CBS’ parent company Paramount Global may be looking to sell some their local TV stations.

This includes a TV station in Philadelphia, Bloomberg reports. 

But which TV station in Philly could be sold off? 

Well, Paramount Global owns both KYW-TV (CBS 3) and WPSG-TV(that’s Philly 57).

The reporting was not immediately clear which station could be sold, but its easy to assume that it would likely be Philly 57 as that probably isn’t a priority for the company VS a locally owned and operated CBS station as Channel 3 is in Philadelphia.

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Philly 57 has had several affiliations over the years including UPN for much of the ‘90s and early ‘00s before becoming a CW affiliate in 2006. That agreement ended last year with CW programming now airing on PHL-17.

Other Paramount TV Stations Could Be Sold As Well in 2024

A total of 12 Paramount TV stations could be on the chopping block, reports from Bloomberg say. 

So in addition to Philadelphia, the stations that could be on the block include Paramount stations in New York, Dallas and Tampa.

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The stations that are affected are not CBS affiliates. In most cases the stations used to be CW affiliates, Bloomberg’s sources say. Those deals (as we told you above) ended in 2023.

So again, if you’re a CBS-TV viewer in New York City, don’t panic. It is likely similar to Philadelphia.

We think it’s unlikely that they’d sell their flagship station, WCBS 2. Instead, they’d be more likely to sell off WLNY-TV (Channel 55) out of New York.

Why Is Paramount Considering Selling Assets?

Back in July, Paramount agreed to merge with Skydance Media to form a “New
Paramount” in a deal that could total $8 billion.

Earlier in August, Edgar Bronfman Jr. issued a rival bid for the company, and he was reportedly looking to find a “major tech company” to partner with on the deal.

However, as of this week, that bid has since been removed. 

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So the exact future of Paramount isn’t immediately clear. But Bloomberg confirms that the company has hired a banker to explore assets that could be sold off in the near future.

It is estimated that these 12 stations could bring in a total a whopping dollar amount between $500 million and $1 billion.

Experts now say the path to merge with Skydance is likely to move forward soon.