The Hollywood Reporter featured news of Nexstar acquiring majority control of the network from Paramount and Warner Bros. Discovery.
The CW is getting new ownership. The broadcast network, currently run as a joint venture between Warner Bros. Discovery’s Warner Bros. TV and Paramount Global’s CBS Studios, is selling a 75 percent stake to Nexstar. Paramount and Warner Bros. Discovery will each retain a 12.5 percent stake in the venture.
”Nexstar, together with its partner stations, is the nation’s largest local television broadcasting company and the largest CW affiliate group with 37 CW and CW Plus affiliates, including affiliates in five of the top 10 DMAs, accounting for 32 percent of the Network’s national reach,” the company said Monday.