On January 24, 2006, CBS Corporation and Warner Bros. Entertainment announced plans to launch The CW Television Network in the fall of 2006. This new joint venture network will feature programming from both The WB and UPN. CBS chairman Les Moonves and Warner Bros. Entertainment CEO Barry Meyer announced that The WB and UPN will both cease independent operations in September 2006.
http://money.cnn.com/2006/01/24/news...rner/index.htm
http://biz.yahoo.com/prnews/060124/nytu143.html?.v=43
The CW Television Network, or more casually "The CW," is a new American television network set to launch for the 2006-07 television season in the United States. It will feature a mixture of the programming of the UPN and The WB television networks, which will both cease operations in September 2006. The network will be a joint venture between CBS Corporation, owner of UPN, and Warner Bros. Entertainment, a subsidiary of Time Warner, majority owner of the The WB.
The CW will air programming targeted to younger audiences — an audience that had been targeted by both The WB and UPN. CBS chairman Les Moonves explained that the name of the new network is an amalgamation of the first initials of CBS and Warner Bros. Moonves joked "we couldn't call it the WC for obvious reasons." [1]
The network will provide 13 hours of prime-time programming to the newly affiliated stations, adopting the WB's present programming schedule: 8-10pm Monday to Friday (all times ET/PT), 5-10pm Sundays, 3-5pm weekday afternoons, and a five-hour Saturday morning animation block.
http://en.wikipedia.org/wiki/The_CW_Television_Network