Layoffs to Hit CBS Stations?

Sources tell FTVLive that the ax is coming to the CBS stations.

CBS’s parent company Paramount Global is watching its stock price fall and even yesterday when the stock market was running positive, Paramount Global lost over 2% of its value. The stock has been down in the last 4 trading sessions.

Paramount Global’s largest investor, Warran Buffet has gone sour on the stock and it appears the company is looking to make deep cuts.

Sources tell FTVLive that the CBS Television stations will not be immune to the ax and cuts could be announced very soon.

FTVLive was the FIRST to tell you that the CW-affiliated CBS-owned stations were dropping their affiliation with The CW. Now, we hear that CBS is looking to quietly sell the independent stations. Don’t be surprised if Nexstar is the buyer, as Nexstar now owns the CW.

No word on how deep the cuts will go at the O&O’s, but with the company in such bad financial shape, it could get ugly.

Stay tuned…