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MUSIC AND ENTERTAINMENT 1: Two Major Networks Join Forces

After forming eleven years ago, both the WB and UPN television networks have decided to merge and form one network called CW. Set to launch in September 2006, CW will be a joint network headed half by CBS Corporation and half by Time Warner Incorporated.

CW will take on many of the characteristics of the WB and will be geared towards younger viewers.

CW will also be the new network for UPN shows such as “Everybody Hates Chris” and WB hits like “Gilmore Girls.” The new network is also expected to reach 95 percent of America and be run more cost efficiently.

CBS and Time Warner shares in the stock market have already risen after the announcement of the merger. Companies are also unsure as to how many employees will be laid off because of the consolidation.

--Written by Elena Scuro

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