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Thursday, Mar 28, 2024
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Network Plan Moves TV Station Owner

Shares of little Santa Ana-based TV station operator Acme Communications Inc. got a big boost Tuesday on the network plans of Viacom Inc.’s CBS Corp. and Time Warner Inc.’s Warner Bros. Entertainment.

The stock closed up 15% on Tuesday after CBS and Warner Bros. said they are combining the UPN and WB networks in favor of a new one to be called CW.

Acme owns eight WB affiliates and has signed an affiliation pact with the new network. The company counts a market value of about $70 million.

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