Nexstar Stock Slips After CW Network Deal Announcement
Nexstar Media Group (NXST) has struck a deal to acquire the majority stake in the youth-oriented broadcaster CW Network from its co-owners Warner Bros. Discovery (WBD) and Paramount Global (PARA). The transaction is expected to close in Q3 2022. Nexstar stock fell 1.3% yesterday. Nexstar Bags a 75% Stake in the CW and Looks to Improve Profitability Nexstar has agreed to acquire a 75% stake in the CW Network. Warner Bros Discovery and Paramount will retain the minority stake, with each owning 12.5% of the network. They will also continue to produce content for the network. Nexstar is the largest owner of local television networks in the U.S.
Nexstar Stock Slips After CW Network Deal Announcement
Nexstar Media Group (NXST) has struck a deal to acquire the majority stake in the youth-oriented broadcaster CW Network from its co-owners Warner Bros. Discovery (WBD) and Paramount Global (PARA). The transaction is expected to close in Q3 2022. Nexstar stock fell 1.3% yesterday. Nexstar Bags a 75% Stake in the CW and Looks to Improve Profitability Nexstar has agreed to acquire a 75% stake in the CW Network. Warner Bros Discovery and Paramount will retain the minority stake, with each owning 12.5% of the network. They will also continue to produce content for the network. Nexstar is the largest owner of local television networks in the U.S.