Nexstar completes acquisition of the CW Network
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Nexstar Media Group (NASDAQ:NXST) has closed on its acquisition of the CW network.
The company sealed its deal for 75% ownership interest from the network's co-owners, Warner Bros. Discovery (NASDAQ:WBD) and Paramount Global (NASDAQ:PARA) (NASDAQ:PARAA).

Those two companies will each retain a 12.5% ownership interest as planned.
CW Chairman/CEO Mark Pedowitz will exit that role and return to his production company, and longtime Nexstar director Dennis Miller will become CW President. He's left the board and Nexstar will search for a replacement director.
Nexstar (NXST) is up 2%; WBD is up 3.7% Monday and PARA is 1.9% higher.