Nexstar Media Group Inc., the nation’s biggest owner of local television stations, said it has agreed to buy majority control of the CW Network from co-owners Warner Bros. Discovery Inc. and Paramount Global.
Under the terms of the deal, Nexstar will take a 75% stake in the CW, a broadcast network aimed primarily at teens and young adults, with Paramount and Warner Bros. Discovery each retaining 12.5% stakes, the companies said Monday.
