WB and UPN to merge

The WB and UPN television broadcast networks, which have failed to improve their audience ratings, will merge to form the CW Television Network to lure younger viewers. CBS, which owns UPN, and the WB, owned by Tribune Co. and Time Warner Inc., will start the new network in September, the companies said today in a statement. New York-based CBS and Time Warner will each own 50 percent of the CW network and operate it as a joint venture. [Variety]