Deals
Nexstar to Buy CW Network From Warner Bros., Paramount
- Station owner to acquire a 75% stake, pay no cash upfront
- Largest local TV broadcaster in US already owns CW affiliates
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Nexstar Media Group Inc., the largest local TV station owner in the US, is acquiring a 75% stake in the CW Network.
The Irving, Texas-based media company already owns many CW affiliates, including WPIX in New York and KTLA in Los Angeles. The CW’s current owners, Warner Bros. Discovery Inc. and Paramount Global, will each retain 12.5% of the business and continue to produce original, scripted content for the network, according to a statement Monday.