CBS and Warner Bros. Entertainment announced Jan. 24 that they would form a new fifth network called The CW to be launched in fall 2006.
The new network will be a joint venture between Warner Bros. Entertainment and CBS, with each company owning 50 percent. In a strategic move that secures major market distribution for The CW, it was announced that Tribune Broadcasting and the CBS Corporation's UPN affiliates have agreed separately to sign 10-year affiliation agreements with the new network.
CBS and Warner Bros. Entertainment will cease operations of their respective networks, UPN and The WB. Both will continue to broadcast their respective network schedules independently until the fall.
For more information, visit www.cbscorporation.com.