The CW is shaking up its C-suite.
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The Nexstar-owned broadcast network will see its president Dennis Miller exit, the company says. CW entertainment chief Brad Schwartz is expected to succeed him, a person familiar with the matter says.
The decision is a surprising one, with Miller signing a multiyear contract extension last year that would have kept him atop the network through 2027. Miller will exit his role at the end of the month, and will stay on as an adviser through the end of 2024.
Miller had been a big driver of The CW’s push into sports, beginning with LIV Golf last year, with college football and basketball, NASCAR and WWE NXT also joining its lineup.
“I’ve had a front row seat during a remarkable 11-year run with Nexstar and enjoyed navigating this period of significant transformation for the network,” said Miller in a statement. “With some of the highest ratings The CW has seen in years and long-term contracts with an array of premium live sports in place, the future of The CW looks very promising.”
Schwartz, meanwhile, has been transforming The CW’s programming slate to be more cost efficient so the company can hit its profitability targets. When Nexstar acquired the company (for basically nothing) in 2022, it outlined a plan to make it profitable by 2025.
“I’m confident that under Brad’s leadership, The CW won’t miss a beat,” Nexstar networks president Sean Compton wrote to staff Wednesday. “With the great team he’s helped to assemble and the new programming starting to resonate with viewers, The CW is poised for even more success.”
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In an interview with The Hollywood Reporter earlier this year, Schwartz indicated that the company was making progress on that goal, but declined to commit to the 2025 timeline.
“We’ve improved our earnings by $100 million this year. I think we’ve improved our earnings by over $200 million in two years. So this team is really hitting on all cylinders,” he said. “We’ve had three consecutive quarters of ratings growth. And we’re doing it more efficiently and we’re doing it with a smaller team. And it’s kind of us against titans. We’re the underdog, and it’s all going really well. So I think if we continue on this track, and we play a little Moneyball and put really good content on the air and do it efficiently and keep growing our ratings — and now that we’ve added, you know, an incredible amount of sports, 500 hours of sports from zero — it’s all kind of pushing us in the right direction.”
“We were fortunate when Dennis agreed to move from Nexstar’s Board to lead the transformation of The CW,” said Perry Sook, Nexstar’s chairman and CEO. “During his tenure, he installed a new leadership team at The CW, and they have broadened the appeal of its programming and enhanced the value of its affiliations for both Nexstar and our partners. With The CW now well positioned for continued success, we’re pleased to let Dennis move on to new challenges. We are grateful for his guidance on Nexstar’s Board and at the helm of The CW, and we wish him the very best.”
In an email to CW employees Wednesday, Miller wrote that with a “clear path to profitability, … now is the perfect time to hand the reins over to my longtime colleague and friend Brad Schwartz.”
“You have all been a meaningful part of an important transformation for The CW,” he wrote. “While change at times, can be bumpy and uncomfortable, it’s the only path forward in today’s media environment. I’m lucky to have gotten to know so many of you along the way and will miss the regular interaction, debates, discussions, and ultimate camaraderie we built together. After serving eight years on the Board of Nexstar and two years overseeing The CW, I believe you are now in an enviable position to continue building an incredibly valuable fifth broadcast network. A network of which you can all be quite proud. And while this time I may be watching from the sidelines or from a box seat, I’ll be rooting for your success every day.”
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