RIP forever, Michigan J. Frog and Circle, Triangle, Square/freaky

http://quote.bloomberg.com/apps/news?pid=10000006&sid=aTUkc268e9Iw&refer=home

WB, UPN Networks to Merge, Creating CW Television (Update1)

Jan. 24 (Bloomberg) -- 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 Corp., 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.

Combining the networks will boost prospects for profitability, CBS Chief
Executive Officer Leslie Moonves said at a press conference in New York.
The WB, which posted a loss last year, has struggled with declining
ratings. In the current television season, the WB is ranked sixth and
UPN ranks eighth among U.S. viewers.

``The long range plans look far better with this entity and we will
reach our financial goals,'' Moonves said.

Shares of Time Warner, the biggest media company, today rose 12 cents to
$17.21 at 11:41 a.m. in New York Stock Exchange composite trading. Stock
in CBS, formed when Sumner Redstone split Viacom Inc., rose 33 cents to
$26.15.

"VIVA LA CW Network!"???!!!

Donna B...