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The CW Network Is Born! CBS Corporation and Warner Bros. Entertainment kind New 5th Broadcast Network
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CBS Corporation and also Warner Bros. Entertainment form New fifth Broadcast Network Source: CBS, Time Warner & TribuneEach firm To hold 50% attention In The CW television Network Tribune Broadcasting and CBS coporation, group stations Agree to 10-Year Affiliation Agreements covering 48% of The country new Television Network To use the best Programming indigenous CBS Corporation and Warner Bros. Dawn Ostroff Is Tapped together President that Entertainment at The brand-new Network; man Maatta will certainly Be Chief operating Officer The WB and also UPN to cease Operations in September 2006 January 24, 2006 (New York, NY) - CBS Corporation and Warner Bros. Entertainment this day announced their will to kind a new 5th network, The CW, come be released in the fall of 2006. The new broadcasting network will certainly be a joint venture between Warner Bros. Entertainment and also CBS Corporation, with each firm owning 50%. In vital strategic move that secures significant market circulation for The CW, it to be announced the Tribune Broadcasting and the CBS Corporation's UPN affiliates have agreed individually to authorize 10-year affiliation agreements through the brand-new network. The notice for the brand-new network was made today in new York through Leslie Moonves, President and also Chief executive Officer of CBS Corporation and Barry Meyer, Chairman and also Chief executive, management Officer of Warner Bros. Entertainment. The Tribune broadcasting affiliation agreements were announced through Dennis FitzSimons, Chairman, President and Chief executive, management Officer of Tribune Company. at the exact same time, it was announced that CBS Corporation and Warner Bros. Entertainment will certainly cease operations of their respective networks -- UPN and The WB. The WB and also UPN will continue to transfer their corresponding network schedules individually until the fall. (More) The mix of Tribune's 16 major market stations and the 12 CBS-owned UPN major market affiliates give The CW instant coverage in 48% that the country. The remainder that the network's distribution system will be a mix of selected current UPN and also The WB stations. The full circulation of the new network is supposed to exceed 95% of the country. Dawn Ostroff, at this time President of UPN, will become President of Entertainment and also John Maatta, right now Chief operating Officer of The WB, will end up being Chief operating Officer of The CW. "This brand-new network will certainly serve the public with high-quality programming and also maintain our ongoing commitment come our varied audience," claimed Moonves. "It will clearly be better than the sum of that is parts, delivering wonderful demographics to advertisers, and also building a strong new affiliate body. Additionally, The CW will be able to draw native the an innovative talent and also production resources from the optimal two television production studios in the business, while likewise seeking programming native all resources -- independent producer or various other studios. With this move, we will be developing a viable entity, one well-equipped come compete, thrive and also serve every our numerous publics in this multi-channel media universe. I'd favor to thank Dawn Ostroff and all the talented human being at UPN that have functioned so hard. For plenty of years UPN had financial losses, yet under CBS's guidance, UPN has actually been may be to effect a dramatic an innovative turnaround in a short period of time." "This new network provides sound organization and an innovative sense at every level -- because that our viewers, advertisers, affiliates and for the shareholder of ours companies," said Meyer. "Every crucial constituency of the network will currently greatly advantage from this combination by being component of a very rated, competitive, fifth broadcast network the is financially sound. As we form this new joint venture, we space also an extremely pleased the in Dawn and also John we have actually a management team of great an imaginative vision and also business acumen, one the will aid to guide it effectively forward." "This is a really exciting day for Time Warner and its shareholders in the development of what we think will it is in a very solid and viable 5th broadcast television network," claimed Jeff Bewkes, president & Chief operating Officer the Time Warner. "This brand-new network will have all the strategic asset value as one outlet because that our programming the The WB gift us, but with a much firmer and much more secure jae won present and also future. The credit goes come Barry Meyer, who continues to have actually tremendous vision and extraordinary organization acumen as the long time leader the Warner Bros. Entertainment, a firm that we are proud come say continues to it is in number one in the class." "This is a good day because that Tribune and also its shareholders, and we are pleased to it is in the lead affiliate team of what will be a solid network," said FitzSimons. "We could not have had a far better partner 보다 Warner Bros. And Barry Meyer since we together released The WB 11 years ago. Now, with the ownership function of CBS Corporation and also the leadership of Leslie Moonves added to the mix, Tribune's viewers and also advertisers will benefit from an also stronger programming lineup." The 16 Tribune affiliated stations will include new York, Los Angeles, Chicago, Boston, Dallas, Washington, D.C., Houston, Miami, Denver, St. Louis, Portland, Indianapolis, mountain Diego, (More) Hartford, brand-new Orleans and Albany. The 12 CBS Station group television sectors will include Philadelphia, mountain Francisco, Atlanta, Detroit, Tampa, Seattle, Sacramento, Pittsburgh, West Palm Beach, Norfolk, Oklahoma City and Providence. Together, these optimal two station groups cover the top 13 television markets, 20 the the peak 25 tv markets and have a total coverage area of an ext than 48% the the country. The CW will incorporate The WB's present scheduling model, which consists of a 6 night-13 hour primetime lineup including Monday with Friday nights indigenous 8-10 (EST/PST); Sundays indigenous 7-10 (EST/PST); Sunday indigenous 5-7 (EST/PST) outside of primetime as well as a Monday thru Friday afternoon block indigenous 3-5 (EST/PST) and also a 5-hour Saturday morning computer animation block. Together, the network will regime 30 hours a main over 7 days because that its affiliated stations. together the top an imaginative executive, Ostroff will certainly have available a line-up of few of the most renowned programming the appeals to young adult in the media business. These programming assets range from struggle reality series such together "America's next Top Model" and also The WB's "Beauty and also the Geek," to hit dramas choose The WB's "Smallville," "Gilmore Girls," "Supernatural," and UPN's "Veronica Mars" as well as UPN's fight comedies "Everybody no Chris" and "Girlfriends" and The WB's fight comedy "Reba." In addition the WWE's "Smackdown," which has actually been a mainstay at UPN, is supposed to play a duty in the schedule. In addition, The CW will additionally broadcast the schedule that children's programming now recognized as Kids' WB!, a 5-hour original programming block top top Saturday mornings indigenous 7:00 am-Noon, taken into consideration primetime for kids. Kids' WB! has been the transfer network ratings champion because Fall 2000, recording 16 consecutive sweep victories as the Number One Saturday morning kids' broadcaster. every programming, marketing, scheduling, publicity and also research functions will report to Ostroff. Maatta will be responsible because that the network's organization operations. Invoice Morningstar, The WB's executive, management Vice president of proclaiming Sales will come to be the head of sales reporting to Maatta. Various other responsibilities that will report come Maatta include organization affairs, network distribution, legal, finance and human resources. Meyer added: "This might not have happened there is no the incredible energy and also talent the Bruce Rosenblum, chairman of Warner Bros. Television Group and Nancy Tellem in ~ CBS who functioned tirelessly and also cohesively with each other to make this brand-new network a reality. Ns would also like to say thanks to Dennis FitzSimons, who saw the good opportunity this new network presents for the Tribune company and who proceeds to be among the great professionals and broadcasters in the business today." Moonves added: "This idea becomes a truth only once a great station group like Tribune comes on board with us and delivers the an effective reach a new network requires. V formidable flagship Tribune train station in brand-new York, Chicago and also Los Angeles, a good CBS line-up that owned and also operated UPN stations, and strong affiliates indigenous every easily accessible market, The CW launches as a strong competitor come the huge Four, and also that's great for ours business, because that the viewing audience, and also for free, over the air broadcasting. The is also great news because that our shareholders, that will advantage from a much stronger service model, improved economics for our stations and brand-new opportunities for our manufacturing businesses." CBS copy, group (NYSE: CBS.A and CBS) is a massive media firm with constituent components that reach earlier to the starts of the transfer industry, and also newer companies that operate on the top edge the the media industry. The Company, v its many and also varied operations, combines vast reach with well-positioned neighborhood businesses, all of which carry out it with considerable distribution network by which it offer audiences and also advertisers in all 50 says and key international markets. It has operations in practically every ar of media and entertainment, consisting of broadcast television (CBS and also UPN), cable tv (Showtime), local television (CBS television Stations), television production and syndication (CBS great Television and King World), radio (CBS Radio), advertising on out-of-home media (CBS Outdoor), publishing (Simon & Schuster), theme parks (Paramount Parks), digital media (CBS Digital Media Group and CSTV Networks) and consumer products (CBS consumer Products). For much more information, log on to www.cbscorporation.com. Warner Bros. Entertainment, a fully-integrated, broad-based entertain company, is a global leader in the creation, production, distribution, licensing and marketing the all forms of entertainment and also their associated businesses. Warner Bros. Entertainment, a Time Warner Company, stands in ~ the head of every element of the entertainment industry, from attribute films to television, residence video/DVD, animation, comic books, interaction entertainment and games, product and also brand licensing, worldwide cinemas and also broadcasting. TRIBUNE (NYSE:TRB) is among the country's height media companies, operation businesses in publishing and broadcasting. That reaches more than 80 percent of U.S. Households and also is the just media company with newspapers, television stations and websites in the nation's optimal three markets. In publishing, Tribune operates 11 leading everyday newspapers including the Los Angeles Times, Chicago Tribune and Newsday, add to a wide variety of targeted publication such together Spanish-language Hoy. The company's broadcasting group operates 26 television stations, Superstation WGN on national cable, Chicago's WGN-AM and also the Chicago Cubs baseball team. Renowned news and also information websites enhance Tribune's print and broadcast properties and extend the company's nationwide audience.