Nexstar Media Group’s pursuit of majority control of the CW is nearing the finish line, according to people with knowledge of the pending transaction.
Word of the deal first surfaced last January, but it has taken some time to iron out details. As currently structured, the deal will see Nexstar take a 75 stake in the broadcast network, and current partners Paramount Global and Warner Bros Discovery each take 12.5. Sources indicated there is still some chance the tentative agreement could unravel, but if it stays on track it could be formalized in the next few weeks.
The Wall Street Journal had the first report of the ownership structure and the apparently imminent closing of the acquisition.
Nexstar, the No. 1 owner of local TV stations in the U.S. as well as the owner of cable network NewsNation and digital brands like The Hill, would make a logical new owner of...
Word of the deal first surfaced last January, but it has taken some time to iron out details. As currently structured, the deal will see Nexstar take a 75 stake in the broadcast network, and current partners Paramount Global and Warner Bros Discovery each take 12.5. Sources indicated there is still some chance the tentative agreement could unravel, but if it stays on track it could be formalized in the next few weeks.
The Wall Street Journal had the first report of the ownership structure and the apparently imminent closing of the acquisition.
Nexstar, the No. 1 owner of local TV stations in the U.S. as well as the owner of cable network NewsNation and digital brands like The Hill, would make a logical new owner of...
- 6/29/2022
- by Dade Hayes
- Deadline Film + TV
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