Gray Renews CW Affiliations in 38 Markets, or 10% of U.S.

The CW Network and Gray Media said they renewed the affiliation agreements covering 38 of Gray’s local television stations.

The Gray stations reach about 12 million TV households, representing about 10% of the U.S.

Financial terms were not disclosed.

Last month, the CW’s owner Nexstar Media Group and Paramount Global reached an affiliation deal that gave the CW coverage in Detroit and Miami.

CBS had previously moved to turn its The CW affiliates into independent stations.

Earlier in the year, the E.W. Scripps Co. said it would be dropping the CW affiliations in its markets.

Nexstar has been moving TheCW affiliations to stations it owns as part of its plan to wring profits from the networks.

In the second quarter, Nexstar said it cut the losses generated by the CW by $33 million