ASU2002
Well-Known Member
UPN, WB to Shut Down; New Network Formed
NEW YORK - Two small, long-struggling television networks ? UPN and The WB ? will shut down this fall and programming from both will be used to launch a new network aimed mainly at young and minority viewers.
The new network will be called The CW ? "C" for CBS Corp. and "W" for Warner Bros. ? each of which will own half of the new entity and contribute programs, assets and executives to the venture.
Tribune Co., a Chicago-based media company, will relinquish its 22.5 percent stake in The WB in exchange for a 10-year affiliation deal to carry the new network on 16 of its stations. The rest of The WB was owned by Time Warner Inc., parent of Warner Bros.
The CW will also be carried on the 12 stations owned by UPN, a unit of CBS Corp., guaranteeing the network carriage in 48 percent of the country and 20 of the top 25 TV markets in the country. Network executives said they hoped to have agreements in place to cover most of the rest of the country by the time it launches in the fall.
http://news.yahoo.com/s/ap/20060124/ap_en_tv/tv_network;_ylt=Ak.MD6XD4K_.5_UB6eevuIwnHL8C;_ylu=X3oDMTA3YXYwNDRrBHNlYwM3NjI-
NEW YORK - Two small, long-struggling television networks ? UPN and The WB ? will shut down this fall and programming from both will be used to launch a new network aimed mainly at young and minority viewers.
The new network will be called The CW ? "C" for CBS Corp. and "W" for Warner Bros. ? each of which will own half of the new entity and contribute programs, assets and executives to the venture.
Tribune Co., a Chicago-based media company, will relinquish its 22.5 percent stake in The WB in exchange for a 10-year affiliation deal to carry the new network on 16 of its stations. The rest of The WB was owned by Time Warner Inc., parent of Warner Bros.
The CW will also be carried on the 12 stations owned by UPN, a unit of CBS Corp., guaranteeing the network carriage in 48 percent of the country and 20 of the top 25 TV markets in the country. Network executives said they hoped to have agreements in place to cover most of the rest of the country by the time it launches in the fall.
http://news.yahoo.com/s/ap/20060124/ap_en_tv/tv_network;_ylt=Ak.MD6XD4K_.5_UB6eevuIwnHL8C;_ylu=X3oDMTA3YXYwNDRrBHNlYwM3NjI-