CBS & Warners Form New TV Network: "The CW"

As you consider TV timebuys for the FALL, you should be aware of CBS' LESLIE MOONVES who has made a major announcement in the TV world, the birth of a fifth major network -- THE CW -- that will offer 6 hours of primetime programming to affiliates. In a letter to the company, MOONVES said:

"Today, in a joint venture with WARNER BROS. ENTERTAINMENT, we are announcing the intent to form a new broadcast network, THE CW, to be launched in the fall of 2006. CBS AND WARNER BROS. will each hold a 50% interest in THE CW, which will utilize the best programming from WARNER BROS. and CBS CORPORATION, and tap the top executive talent of both organizations. DAWN OSTROFF, currently President of UPN, will become THE CW's President/Entertainment and JOHN MAATTA, currently COO of THE WB, will become THE CW's COO.

MOONVES goes on to say that by combining the TRIBUNES' 16 UPN outlets and CBS' UPN affiliates into a 10-year agreement, THE CW has instant coverage in 48% of the country. The remainder of the network's distribution system will be a combination of selected current UPN and The WB stations. The full distribution of the new network is expected to exceed 95% of the country.

In an important strategic move that secures major market distribution for The CW, Tribune Broadcasting and the CBS Corporation's UPN affiliates have agreed to sign 10-year affiliation agreements with the new network. The combination of Tribune's 16 major market stations and the 12 CBS-owned UPN major market affiliates gives The CW instant coverage in 48% of the country. The remainder of the network's distribution system will be a combination of selected current UPN and The WB stations. The full distribution of the new network is expected to exceed 95% of the country.

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