From the LA Times, via Kung Fu Monkey: UPN, WB to Merge Into New Network. And they'll be called "The CW".
I find it amusing that the practice of prefixing common words with a definite article, which many comedians use to lampoon old codgers and non-native English speakers-- e.g., "Is he the gay?"-- has been adopted by hipsters to sound cool, if only ironically. Witness "The WB", "The OC", and so on and so forth.