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Nexstar’s Next Battle: Making The CW Numbers Work

In the end, Nexstar was paid $54 million to take The CW off of Paramount and Warner Bros. Discovery’s hands. Actually, that’s an oversimplification. In fact, Nexstar, led by CEO Perry Sook, was given its 75 percent stake in the network for free, but after factoring in its cash on hand, accounts receivable and accounts […]

Nexstar Sticks to 2025 Profitability Target for The CW

Nexstar Media Group reiterated its guidance of making The CW profitable by 2025, which it said will require a “low nine-figure” investment over that time period.  The TV station group officially took over The CW on Oct. 1. Existing CW programming is in place for the 2022-23 broadcast season, Nexstar management told investors Tuesday. After […]

New CW Entertainment President Brad Schwartz Outlines “Scrappy” Network Approach Under Nexstar

It’s official: Former Pop TV president Brad Schwartz has been tapped to serve as entertainment president at the Nexstar-controlled CW. The executive had been consulting for The CW under former network CEO Mark Pedowitz after a short-lived stint as head of originals at Audible. Schwartz, whose hiring had been rumored, will report to former Nexstar […]

Paul Hewitt Out as Head of PR at The CW as Nexstar Trims Workforce

Nexstar continues to make its mark on The CW. The station group on Tuesday announced that longtime CW head of communications Paul Hewitt is leaving the network after a 22-year run. Beth Feldman, a former partner at Beyond PR Group, is taking over the role. The change is effective immediately, reporting to new CW president […]

The CW’s ‘Nancy Drew’ to End With Season 4

Nancy Drew is sticking around The CW for one last case. The drama starring Kennedy McMann as the teen sleuth will end with its upcoming fourth season on the broadcast network that is now owned by station group Nexstar. Sources say cast and crew were informed of the decision Wednesday afternoon. Season four is currently […]

The CW’s Future Under Nexstar: Focus on Affiliates, Profits and Cheaper Originals

The CW opened its 2022-23 broadcast season Monday with its new owner, Nexstar, delivering a loud message to the creative community and Wall Street: Expect change, and expect it fast. The station group, which officially took over the younger-skewing broadcast network Oct. 1, parted ways with The CW’s three top executives: CEO Mark Pedowitz, streaming […]

Nexstar Parts Ways With The CW’s Heads of Finance, Marketing (Exclusive)

Nexstar is not wasting any time in cleaning house at The CW. Hours after the station group announced that former board member Dennis Miller would take over The CW as president for CEO Mark Pedowitz, the newly installed executive made a surprise appearance Monday at the network’s Burbank, Calif., offices and continued to make changes […]

Will Nexstar Erase Mark Pedowitz’s Legacy From The CW?

Mark Pedowitz leaves an impressive legacy at The CW after an 11-year run in which he championed diversity and worked tirelessly to transform the broadcast network into a home of year-round programming. The question now becomes if Pedowitz’s successor — former Nexstar board member Dennis Miller — will embrace or erase it. Pedowitz was named […]

The CW CEO Mark Pedowitz Exits as Nexstar Sets New Leadership

Broadcast television’s longest tenured network chief is out. Mark Pedowitz, the CEO of The CW, is stepping down from his role with the younger-skewing broadcast network, effective immediately, following its sale to station group Nexstar. The news was announced Monday as Nexstar, which officially took control of The CW on Oct. 1, unveiled its leadership […]

Political Ad Spend Boosts Tegna Revenues Ahead of $5.4B Private Equity Takeover

Local TV station giant Tegna, led by CEO Dave Lougee, got a boost from midterm political ad spending as the company posted record second-quarter revenues ahead of the company being bought up by two private equity firms. Political revenue hit a second-quarter record of $50.8 million, up 53 percent from 2018, the last non-presidential election […]

Nexstar CEO Perry Sook Inks Multiyear Contract Extension

Nexstar has signed a multiyear contract extension with CEO Perry Sook, keeping the executive in charge of the Texas-based local TV giant through March of 2026. The company disclosed the new contract on Monday morning. Terms of the contract were not immediately disclosed. Sook has been CEO of Nexstar, which owns or operates some 200 […]

Will The CW Be a Streaming Wars Casualty?

National broadcast TV networks don’t go on the market very often. So when the news broke that ViacomCBS and WarnerMedia were shopping a majority stake in The CW network, and that local TV giant Nexstar was the lead bidder, eyebrows were instantly raised. The deal, assuming it goes through (one source familiar with the talks […]