We’ve reported on it some time ago, but there were hints that The CW was potentially going to have a new owner. It looks like it has finally been confirmed as the Nexstar Media Group is currently set to acquire a 75% stake in the broadcast network moving forward.
As such, Paramount and Warner Bros. Discovery will still retain a 12.5% stake ownership in the CW. It also means they will continue to produce scripted content for the network, but it’s unclear just how much that’ll be the case moving forward. It also seems that the leadership won’t change with Mark Pedowitz set to remain as CEO of the CW.
There are no financial terms disclosed but it seems that a big part of this company acquisition is Nexstar taking over the CW’s debt rather than the usual “upfront considerations.” It’s a big move for the company, which includes quite a few local TV stations and even the cable network NewsNation. If you’re worried this might spell the end of the CW, it seems they intend to once again put the network on the ma
Source: Deadline
