By Chris Walters on January 25, 2006 at 2:03 AM EST

CBS and Warner Brothers, the parent companies of UPN and The WB, respectively, announced Tuesday that the struggling networks will cease independent operations and merge into a single company — The CW Network.

The network will launch as a 50-50 partnership between CBS and Warner Bros. in the fall on stations owned by Tribune Co., which is a minority owner in The WB.

CBS's Leslie Moonves said the new network will air thirty hours of programming over the seven day week. Part of the programming will be aimed at younger viewers.

WB's Barry Meyer said that the present heads of WB and UPN would run the joint network.

There is no word on how this will impact the networks' top programs, which include "WWE SmackDown," "America's Next Top Model" and "Gilmore Girls."

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