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We knew it was coming, but that doesn’t make it hurt any less: Warner Bros and Paramount confirmed the plan to sell off their jointly-owned broadcast network The CW to nationwide station owner Nexstar is a go. Nexstar will take 75 percent ownership of the network, while WB and CBS will take 12.5% shares each, allowing them to continue producing original scripted content for the thing, though not nearly as much. CEO Mark Pedowitz will remain in his position as head of CW for now.
But he’ll REALLY answer to Nexstar CEO Perry Sook, who loves saying the word “operational” a lot: “Our acquisition of The CW is strategically and operationally compelling, as it will enable us to leverage our operational experience to improve the network’s performance through our management of this powerful national platform. We plan to apply the same strict financial standards to operating The CW as we apply to our...
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