Tuesday January 24th 2006, 9:59 am
Filed under: TV, Media Concentration, Broadcasters
The broadcast networks UPN and the WB will cease to exist this fall. Instead, they will be combined into one network “the CW.”
Reporter Matea Gold of the Los Angeles Times writes:
UPN and the WB Network will cease operations this fall to make way for a new broadcast network called The CW aimed at young, ethnic viewers, CBS Corp. and Warner Bros. Entertainment executives announced today.
Both companies will own 50% of the new venture, which will be carried by the Tribune Co. and the CBS UPN affiliates and offer 30 hours of programming a week, including shows like “Smallville,” “Everybody Hates Chris” and “Beauty and the Geek.”
The news about the launch of the new network — which will dramatically reshape the broadcast television landscape — was kept tightly under wraps until this morning, when reporters were summoned to a news conference at the St. Regis Hotel in Manhattan.
“We’re coming here with a pretty historic announcement,” Leslie Moonves, president and CEO of the CBS Corp. said.
“The CW is going to be a real competitor, a destination for young audiences, diverse audiences and a real favorite with advertisers,” Moonves added. “The CW will be able to do something truly remarkable: program already hit shows every single day of the week, programs that consistently rank number one or number two in their time slots in the most coveted young adult demographic.”
More on who owns what in the media here.