The Hollywood Reporter reports: “The broadcast network, currently run as a joint venture between Warner Bros. Discovery’s Warner Bros. TV and Paramount Global’s CBS Studios, is selling a 75 percent stake to the local broadcast giant Nexstar. Paramount and Warner Bros. Discovery will each retain a 12.5 percent stake in the venture. The CW will also continue to order programming from the two entertainment giants, though Nexstar is likely to look elsewhere for originals as well.”

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