New Day Dawns For Broadcast TV Staple As Nexstar Closes Deal For Control Of The CW
deadline.comNexstar Media Group has formally closed a deal to acquire 75% interest in the broadcast network. Mark Pedowitz, the longtime CEO of the network and its face to the industry for the past 11 years, is stepping down after a brief transition period.
Dennis Miller, a veteran Nexstar board member, has been named president of the CW, which will pursue a decidedly different strategy under its new owners.
Pedowitz plans to revive his production company after staying on for a transition period. Warner Bros. Discovery and Paramount Global will each retain 12.5% ownership stakes in The CW.
Pedowitz, had been chairman and CEO of The CW for the past 11 years, helping it punch well above its weight with a series of young-skewing hits like Riverdale, Gossip Girl and All American.
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