LAS VEGAS—News channel NEWSnet has announced plans to invest $50 million in new studios, technology and programming to advance its presence in the broadcast and streaming news markets. NEWSnet is exhibiting for the first time at the 2022 NAB Show in Las Vegas, April 24-27.
Launched in 2019, NEWSnet is the first 24/7 news channel available both over-the-air and via OTT streaming. NEWSnet can be found OTA in nearly 60 markets nationwide and online via fuboTV, Roku, Amazon Fire, Apple TV and mobile apps.
NEWSnet was recently purchased by Manoj Bhargava, founder of 5-hour ENERGY and the largest shareholder of Gray Television. For NEWSnet, Bhargava has set aside an additional $50 million investment for content creation and production. Founder Eric Wotila remains as president and part owner.
In addition to showcasing its 24/7 news product, NEWSnet will unveil "The Weather Report," which provides OTA stations with turnkey localized forecasts presented by the network’s weather team, delivered ready-to-air within stations’ newscasts, lowering an OTA station’s weather costs, the company said.
NEWSnet also will provide details on a new barter system that will offer more economic options for local over-the-air broadcasters and MVPDs, as well as custom newsroom solutions that provide a cost-effective and quality local newscast for any size market.
“Having NEWSnet in your OTA or over-the-top (OTT) channel lineup helps attract and keep viewers, and can lower your costs and improve your bottom line,” said Wotila.
NEWSnet recently began construction of additional studios in Farmington Hills, Mich., with plans to significantly expand its news team.
