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CBS and Time Warner plan to merge UPN and WB television networks into one, reports Bloomberg (via Fishbowl LA). The new entity will be titled CW Television Network, and will begin airing in September as the fifth-largest broadcaster by viewers. CBS and Time Warner will each own 50 percent. While the merging of the two might create a profitable network, the problem remains that both networks have lost viewers in the last two years.
Both networks target women ages 18 to 34 with shows such as UPN’s Veronica Mars and WB’s Gilmore Girls. Combining will attract more advertisers than either UPN or WB would alone.
According to Bloomberg, the combination reflects how intense the struggle for advertising dollars and viewers has become for broadcasters.
“It’s significant that two such large media conglomerates weren’t able to make a go of it,” said David Joyce, an analyst at Miller Tabak & Co. in New York.
CW will cut costs for the companies by using CBS’s backroom operations such as accounting. No decision has been made on job cuts.
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