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.
