Nexstar Nears Deal to Acquire Majority Control of CW Network

Nexstar Media Group the nation’s biggest owner of local television stations, is close to a deal to acquire majority control of the CW Network from co-owners Warner Bros. Discovery and Paramount Global according to people familiar with the matter.

Under the terms being discussed, Nexstar would acquire 75% of the CW, a broadcast network aimed primarily at teens and young adults, with Paramount and Warner Bros. Discovery each retaining 12.5% stakes, the people said.

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