The CW CEO Mark Pedowitz Out as Nexstar Closes Acquisition

The longest-tenured broadcast chief, he had run the network for 11 years

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Nexstar is closing its purchase of The CW, but it’s doing it without Mark Pedowitz.

On Monday, the media company announced it had completed its purchase of 75% ownership interest in The CW network, with Warner Bros. Discovery and Paramount Global each retaining a 12.5% interest. However, CEO and chairman Mark Pedowitz will not be continuing in his position.

The company, which entered into a definitive agreement to acquire majority control of The CW in August, had previously announced that Pedowitz would remain as chairman and CEO. Instead, Dennis Miller has been named CW president, effective immediately.

“Dennis Miller brings a unique skill set of proven television, media and technology industry expertise, as well as venture capital experience to the role of president at The CW. His understanding and ability to unlock value from media assets by delivering high-quality, profitable entertainment, will serve the network, its viewers, its partners and CW affiliates around the country extremely well,” Perry Sook, Nexstar’s chairman and CEO, said in a statement.

Sook added, “I look forward to working with Dennis and Sean Compton, Nexstar’s president of Networks, to build on the foundation that Mark Pedowitz and his team have established at both the CW Network and the CW App. We sincerely thank Mark for his many years of service to The CW and wish him the very best in his future endeavors.”

Pedowitz was the longest-tenured broadcast chief in the TV industry, serving at The CW for 11 years and being promoted to chairman and CEO in 2020. The former CW broadcast chief will provide support for The CW, Nexstar and Miller through the transition.

“It’s been an honor to serve as the Chairman and CEO of The CW Network for the last 11 years, and I am very proud of what our exceptional teams have accomplished together over that time,” Pedowitz said. “It was the right moment for me to hand over the leadership baton and I am excited to move on to the next chapter of my professional career where I can pursue a different set of interests. I am confident Perry, Sean, Dennis and the Nexstar team’s ability to usher in the next phase of growth and success for the CW Network and look forward to supporting them during the transition period.”

Miller has served as a member of Nexstar’s board of directors since 2014 but has stepped down from the position for the appointment. He previously held senior executive positions at Sony Pictures Entertainment, Lionsgate Television and Turner Network Television, recently serving as chairman of Industrial Media until its sale to Sony Pictures Television earlier this year.

During The CW’s in-person upfront presentation in May, Pedowitz acknowledged that the network was going through a transition period as the company canceled several series and rumors of a possible sale loomed.

The former broadcast chief recently spoke with Adweek about The CW’s fall strategy, championing new shows The Winchesters and Walker Independence while also noting that the network’s audience was one of its strengths.

“The CW has always had a passionate, engaged fan base with millions of social media users across all platforms,” Pedowitz said.