On January 24, 2006, the Warner Bros. unit of Time Warner and CBS Corporation announced that the two companies would shut down The WB and UPN and combine the networks' respective programming to create a new "fifth" network called The CW. KWBP was announced as Portland's CW affiliate through a 16-station group affiliation agreement with Tribune, while the market's UPN affiliate KPDX-TV (channel 49, owned by the Meredith Corporation) was named as the Portland affiliate of MyNetworkTV (another new network created by News Corporation as a result of the formation of The CW).