Mark Pedowitz Leaves The CW After 11 Years

The CW chief Mark Pedowitz, who has been running the network since 2011, is leaving the company, according to a new report. Venture capitalist Dennis Miller will step into the role as president of The CW amid Nexstar's acquisition of 75% of the network from former joint owners Warner Bros. Discovery and Paramount. Pedowitz has been responsible for transforming The CW from a network that skewed heavily young and female with hits like Gossip Girl, to a network that was a champion in the genre space with Supernatural and the "Arrowverse" universe of interconnected DC Comics adaptations after Smallville

Prior to moving into the venture capital world, Miller was a TV executive, beginning his career at Lionsgate Entertainment in 1995. He has served on Nexstar's board of directors since 2014.

"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. We are confident his background, experience and relationships will allow Nexstar to deliver on the value of this transaction for our shareholders," said Perry Sook, Nexstar's chairman and CEO, in a statement (via Variety).  "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."

In a statement, Miller pledged to "leverage the experience and business relationships built over my career in the media, and technology industries to create new value for viewers, advertisers, affiliates, and Nexstar shareholders."

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In the same way that Pedowitz reinvented the network in 2011, Miller is expected to reposition the network to develop less expensive programming that appeals to an older demographic. Nexstar recently revealed that they plan to program for "the average CW viewer," which clocked in at 57.4 years old, according to overnight ratings data from Nexstar. While Paramount and Warner Bros. have been able to take advantage of streaming deals to appeal to a younger audience who watches The CW shows via a time delay, Nexstar does not own the content, and will be relying almost exclusively on same-day ratings and advertising revenue.