CBS Corp. and Warner Bros. announced a merger between the WB and UPN, creating a new broadcast network, The CW.
The WB and UPN will be shut down on September 2006, when the new network, THE CW, will launch. The new network will be a 50-50 joint venture of CBS Corp. and Warner Bros. and is expected to reach 95 percent of the country.
The CW will use The WB's current scheduling model (Monday through Friday nights from 8-10 p.m. EST; Sundays from 7-10 p.m. EST; Sunday from 5-7 p.m. EST outside of primetime). It will also include a Monday through Friday afternoon block from 3-5 p.m. EST and a 5-hour Saturday morning animation block.
The CW will be run by Dawn Ostroff (currently president of UPN), who will be in charge of programming, and John Maatta (currently COO of WB) will oversee the business side as chief operating officer.
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A huge thank you to Vicki for all the information!