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From The Hollywood Reporter just moments ago:

The WB Network and UPN will merge in the hope of making the two smaller broadcast networks into a bigger power, according to sources familiar with the situation....

The two networks will merge operations and programming, with UPN president Dawn Ostroff overseeing the combined venture, sources said.

We're choosing to view this marriage not as losing a TV network we don't watch but rather as gaining a TV supernetwork. Which we also won't watch.

We just hope the other networks will be nice to this union's inevitable biracial children.

WB Net, UPN to Join Forces as One Network [THR]