Nexstar Nears Deal To Snap Majority Control In CW Network: WSJ
Nexstar Media Group, Inc (NASDAQ: NXST ) is on the verge of acquiring majority control of the CW Network from Warner Bros. Discovery, Inc (NASDAQ: WBD ) and Paramount Global (NASDAQ: PARA ), the Wall Street Journal reports . The leading owner of local television stations 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. Nexstar looks to assume a significant portion of the network’s current losses, which could exceed $100 million. Also … Full story available on Benzinga.com
Nexstar Nears Deal To Snap Majority Control In CW Network: WSJ
Nexstar Media Group, Inc (NASDAQ: NXST ) is on the verge of acquiring majority control of the CW Network from Warner Bros. Discovery, Inc (NASDAQ: WBD ) and Paramount Global (NASDAQ: PARA ), the Wall Street Journal reports . The leading owner of local television stations 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. Nexstar looks to assume a significant portion of the network’s current losses, which could exceed $100 million. Also … Full story available on Benzinga.com