The CW is welcoming new owners, as the network that airs shows such as Riverdale and Walker has been sold to America’s largest local television and media company Nexstar Media Group. As reported by The Hollywood Reporter, Nexstar has acquired a 75 percent stake in the broadcast network, which is currently operated as a joint venture between Warner Bros. Discovery’s Warner Bros. TV and Paramount Global’s CBS Studios. The deal will see Paramount and Warner Bros. Discovery each retain a 12.5 percent stake in the network. It is expected that The CW will continue to order programming from the two previous majority stakeholders, though Nexstar can and most likely will look for additional originals from elsewhere. Mark Pedowitz, the CW chairman and CEO, confirmed the network was for sale earlier this year, telling staff, “So, what does this mean for us right now? It means we must continue to do what we do best,...
- 8/15/2022
- TV Insider
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