CBS, Time Warner Merge UPN, WB Nets

New Television Network: The CW

New York, NY – Bringing shows such as Smallville, Gilmore Girls, Everybody Hates Chris and America’s Next Top Model together under one roof, CBS and Time Warner Inc. announced the surprise merging of CBS's UPN and Warner's WB television networks today.

Dawn Ostroff

The new entity, known as the CW network (‘C’ for CBS and ‘W’ for Warner), is set to launch September 2006 and is a 50-50 joint venture between CBS Corporation and Time Warner.

UPN’s Dawn Ostroff will helm the CW as president of entertainment, bringing programming and executive staff from both sides together, the Hollywood Reporter said.

Without delving into the possibility of layoffs or other specific cost-cutting measures today, executives said CW will run on a more efficient business model than either WB or UPN and will likely generate profit out of the gate. Both WB and UPN are scheduled to shutter this September and go off the air after 11 years. Each launched in January 1995.

Although UPN was closely approaching a break-even point, according to CBS chief Leslie Moonves, he said the “long-range plan looked far better” with the formation of CW. The new net aims primarily for the young teen through younger adult demos served by UPN and the struggling WB.

The WB has focused on viewers age 12-to-34 and UPN on the 18-to-34 audience, both skewing largely female. Other major network competitors, on the other hand, generally cite 18-to-49-year-olds as prime advertising targets.

Although no schedule will be released until May upfronts, the CW will reportedly program 13 primetime hours spanning six nights, two syndie hours on weekday afternoons and a five-hour Kids WB block on Saturdays.

Affiliates are reportedly coming aboard steadily, with 16 of Tribune’s UPN stations and 12 of CBS’ already inking 10-year agreements. More are expected to follow suit, with the new net projected to reach 95% of the country.