Transaction Expected to Improve Ratings, Revenue and Profit Opportunities for The CW and its Affiliates
Warner Bros. Discovery and Paramount Global to Retain Minority Stake and Produce Original, Scripted Content for The CW
IRVING, Texas–(BUSINESS WIRE)–Nexstar Media Group, Inc. (Nasdaq: NXST) (“Nexstar”) (the “Company”) announced today that it entered into a definitive agreement to acquire a 75 percent ownership interest in The CW Network, LLC (“The CW” or the “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 and will continue to produce original, scripted content for the Network.
Nexstar, together with its partner stations, is the nation’s largest local television broadcasting company and the largest CW affiliate group with 37…
