LOS ANGELES — Nexstar Media Group, the country's largest TV station owner, has acquired a controlling stake in the CW Network from its co-owners Paramount Global and Warner Bros. Discovery.
The Irving, Texas-based company announced the deal Monday, giving it control of a national broadcast service already carried by 37 of its stations including WPIX in New York, KTLA in Los Angeles, KDAF in Dallas and WDCW in Washington.
Nexstar is getting 75% of the CW. The network has been a 50-50 joint venture of Paramount Global and Warner Bros. Discovery, which will each retain a 12.5% stake.
