After the failure and shutdown of DuMont in 1956, several attempts at new networks were made between the 1950s and the 1970s, with little success. The Fox Broadcasting Company, founded by the Rupert Murdoch-owned News Corporation (now owned by Fox Corporation), was launched on October 9, 1986 after the company purchased the television assets of Metromedia; it would eventually ascend to the status of the fourth major network by 1994. Two other networks launched within a week of one another in January 1995: The WB Television Network, a joint venture between Time Warner and the Tribune Company, and the United Paramount Network (UPN), formed through a programming alliance between Chris-Craft Industries and Paramount Television (whose parent, Viacom, would later acquire half and later all of the network over the course of its existence). In September 2006, The CW was launched as a "merger" of The WB and UPN (in actuality, a consolidation of each respective network's higher-rated programs onto one schedule); MyNetworkTV, a network formed from affiliates of UPN and The WB that did not affiliate with The CW, launched at the same time.