Nexstar Closes CW Deal, Names Miller As President

As Nexstar Media Group closes its deal to acquire 75% of The CW Network, it has named Dennis Miller president of the network.

Miller replaces Mark Pedowitz, chairman and chief executive officer of the CW. Pedowitz, who had been with the network for the past 11 years, has announced efforts to form a TV production company.

Warner Bros. Discovery and Paramount Global will each retain a 12.5% ownership interest in The CW. Both companies had been 50-50 partners in the network.

The broadcast network had been losing money for several years. Reports suggest that those losses total around $100 million.

Miller is an investor and has been a member of Nexstar’s Board of Directors since 2014. He is stepping down from that board position.

Most recently, he was chairman of Industrial Media, an independent TV production group that produces more than 94 TV shows airing across 34 networks, including ABC’s “American Idol” on ABC and Netflix’s “Matchmaker.”

Before this he held senior executive positions at Sony Pictures Entertainment, Lionsgate Television and Turner Network Television.

In June, Nexstar announced a deal to acquire 75% of The CW.

The CW, a young adult-skewing broadcast network, began in 2006 as a result of a merger of mini-broadcast networks -- Warner Bros.’ The WB and CBS's UPN, both of which started up in 1995.

Nexstar says it has 200 owned or partner stations in 116 U.S. markets, reaching 212 million people.

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