Nexstar Media Group revealed Monday it is set acquire a 75 majority stake in the CW Network from Paramount Global and Warner Bros. Discovery, more than six months after first beginning negotiations for the deal.
Warner Bros. Discovery (formed through the recent merger of WarnerMedia with Discovery) and Paramount (rebranded from ViacomCBS earlier this year) have co-owned the network since early 2006, when the WB and Upn were merged after nearly a dozen years on the air into a single entity, so named for the “C” in CBS and “W” in Warner Bros. Both Paramount and Wbd will each retain a 12.5 ownership in the CW and continue to produce content for the broadcaster upon close of the sale, which Nexstar expects will happen during the current third quarter.
The CW has been instrumental in Warner Bros.’ efforts to bring its DC Comics characters to life for a new generation with a host...
Warner Bros. Discovery (formed through the recent merger of WarnerMedia with Discovery) and Paramount (rebranded from ViacomCBS earlier this year) have co-owned the network since early 2006, when the WB and Upn were merged after nearly a dozen years on the air into a single entity, so named for the “C” in CBS and “W” in Warner Bros. Both Paramount and Wbd will each retain a 12.5 ownership in the CW and continue to produce content for the broadcaster upon close of the sale, which Nexstar expects will happen during the current third quarter.
The CW has been instrumental in Warner Bros.’ efforts to bring its DC Comics characters to life for a new generation with a host...
- 8/15/2022
- by Jennifer Maas
- Variety Film + TV
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