The CW Television Network



(image via ejeanlive)

We are, quite frankly, stunned that no journo caught wind of this. We'd have thought Michael Woff or Kurt Andersen would have hipped up to the jazzy scoop of the arrival of a fifth broadcast network that targets the 18-34 demographic. But, no. We have to learn of this from Drudgie-poo. Massive news. Anyway, Les Moonves moves up the power index. According to Yahoo via Drudgiepoo:

"CBS Corporation and Warner Bros. Entertainment today announced their intent to form a new 5th network, The CW, to be launched in the fall of 2006. The new broadcasting network will be a joint venture between Warner Bros. Entertainment and CBS Corporation, with each company owning 50%. In an important 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."

It is, on the face of it, a good move. UPN was doing somewhat weakly -- although, execs will gladly say Ashton Kutcher's "Beaty and the Geek" is a certifiable hit. And UPN was doing significantly better -- think: "Everyone Hates Chris," "America's Top Model," and "Veronica Mars." Combining the two and getting rid of the excess is smart.

"The announcement for the new network was made today in New York by Leslie Moonves, President and Chief Executive Officer of CBS Corporation and Barry Meyer, Chairman and Chief Executive Officer of Warner Bros. Entertainment. The Tribune Broadcasting affiliation agreements were announced by Dennis FitzSimons, Chairman, President and Chief Executive Officer of Tribune Company."