Nexstar Media Group completed the acquisition of a 75% stake in The CW Network from Warner Bros and Paramount Global.

Nexstar Media Group, a diversified media company, completed the acquisition of a 75% stake in The CW Network, a commercial broadcast television network, an American media company, from Warner Bros, an American entertainment conglomerate, and Paramount Global, an American multinational mass media and entertainment conglomerate. Financial terms were not disclosed. “Dennis Miller brings a unique skill set of proven television, media, and technology industry expertise, as well as venture capital experience to the role of President at The CW. His understanding and ability to unlock value from media assets by delivering high-quality, profitable entertainment, will serve the network, its viewers, its partners and CW affiliates around the country extremely well. We are confident his background, experience and relationships will allow Nexstar to deliver on the value of this transaction for our shareholders,” Perry Sook, Nexstar Chairman and CEO.