Nexstar Media buys 75% stake in CW Network

Nexstar Media Group has entered into a definitive agreement to acquire a 75% stake in the television network, CW Network. Warner Bros. Discovery and Paramount Global, the current co-owners of CW, will each retain a 12.5% ​​stake in CW and will continue to produce original and scripted content for the network.

Mark Pedowitz will continue as CEO of CW and will be responsible for day-to-day operations. The transaction is expected to close during the third quarter.

AOF 2022

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