The United Paramount Network (UPN) was an American broadcast television network that operated from 1995 to 2006. It was originally owned by Chris-Craft Industries' subsidiary, United Television. Viacom (through its Paramount Television unit, which produced most of UPN's series) turned it into a joint venture in 1996 after acquiring a 50% stake in UPN, and subsequently purchased Chris-Craft's remaining stake in 2000. On December 31, 2005, UPN was kept by CBS Corporation, which was the new name for Viacom when it split into two separate companies. On January 24, 2006, CBS Corporation and Time Warner jointly announced that the companies would shut down UPN and competitor The WB to launch a new joint venture network later that year. UPN ceased broadcasting on September 15, 2006, with The WB following two days later. Select programs from both networks moved to the new network, The CW, when it launched on September 18, 2006.