The CW to Get New Owner as Nexstar Acquires 75 Percent Stake in Network

The CW to Get New Owner as Nexstar Acquires 75 Percent Stake in Network
Confirming months of speculation about The CW‘s future, local-tv giant Nexstar Media Group announced Monday that it will acquire a 75 percent ownership stake in the broadcast network.

The CW’s current co-owners, Warner Bros. Discovery and Paramount Global, will each retain a 12.5 percent minority stake, allowing both companies to continue producing original scripted content for The CW. Mark Pedowitz, who has served as the network’s chairman and CEO since 2011, will continue to fill that role and oversee day-to-day operations following the sale.

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