Nextstar is really in control of the CW now and Warner-Discovery and Paramount Global are just minority partners that sometimes produce content for the channel. At this point the WD and PG partnership in the CW is one of convenience which does not extend beyond that venture. Nextstar, which just recently took over in 2022 , is taking the CW into a different direction aiming at an older audience, hence the sports. The CW used to aim at the 18-34 demographic.

I do not make much of the ESPN, Fox, WBD venture. It just a new way to package 14 channels that are mostly focused on sports at a slightly lower price point than cable replacement streaming options like YoutubeTV, FuboTV, Hulu plus Live TV, which carry most, if not all, of the 14 channels plus other channels that carry sports.