UPN, WB to Combine to Form New Network
By SETH SUTEL, AP Business Writer
18 minutes ago

NEW YORK - Two small, struggling television networks, UPN and WB, will merge to form a new network called The CW, executives from the companies that own them said Tuesday.

The announcement was made by executives from CBS Corp., which owns UPN, and Warner Bros., a unit of Time Warner Inc., which owns WB.

Both UPN and WB had struggled to compete against larger rivals in the broadcast TV business, including Walt Disney Co.'s ABC, News Corp.'s Fox, General Electric Co.'s NBC and CBS Corp.'s CBS.

The new network will launch in the fall, the executives said, and both UPN and WB will shut down. It will be a 50-50 partnership between Warner Bros. and CBS, and the network will be carried on stations owned by the Tribune Co., which is a minority owner of the WB network.

Among the Tribune's TV stations that will join the new network are its flagship WGN in Chicago as well as WPIX in New York, and KTLA in Los Angeles.

Leslie Moonves, chief executive of CBS Corp., said the new network will air 30 hours of programming seven days a week aimed in part at young audiences.

Barry Meyer, the head of Warner Bros., said the network would be run by the current executives of UPN and WB.