Nexstar Media Group, Inc. announced today that it has closed its previously announced acquisition of a 75% ownership interest in The CW Network LLC. Nexstar also announced that Dennis Miller has been named President of The CW, effective immediately. Mr. Miller is assuming leadership of The CW from Mark Pedowitz.
Nexstar Media Group (Nasdaq: NXST) has entered into a definitive agreement to acquire a 75 percent ownership interest in The CW Network. Warner Bros. Discovery (Nasdaq: WBD) and Paramount Global (Nasdaq: PARA, PARAA), the current co-owners of The CW, will each retain a 12.5 percent ownership interest in The CW.