Paramount Global and Warner Bros. Discovery to Sell Majority Stake in The CW Network
Century City – Paul Hastings LLP, a leading global law firm, advised Paramount Global, Warner Bros. Discovery, and The CW Network in a definitive agreement for Nexstar Media Group to acquire a 75% ownership interest in The CW Network, LLC. Warner Bros. Discovery and Paramount Global each will retain a 12.5% ownership interest in The CW and will continue to produce original scripted content for the network.
The Paul Hastings team was led by Entertainment and Media M&A partner Sean Monroe and associate Stuart Downey; and included partners David Hernand (M&A), Douglas Schaaf (Tax), and Stephen Harris (ERISA); of counsels Amy Lawrence (Tax) and Ron Ben-Yehuda (IP); and associates Muaaz Maksud and Cole Rushworth.
For the official deal announcement, please click here.
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