In early 1995, 2 "netlets" went on the air -- The WB and UPN. Despite some truly inventive and stellar programming offerings: Buffy the Vampire Slayer, Felicity, Gilmore Girls, Homeboys From Outer Space ... errr, scratch that last one ... the stations were never able to truly compete with their larger rivals. Last year, in an effort at synergy, the pair decided to join forces as The CW, which is a combined venture of CBS Corp. (NYSE: CBS) and Warner Brothers Entertainment, a division of Time Warner (NYSE: TWX). While the network has retained some reliable aging standbys, including Smallville and America's Next Top Model, it hasn't enjoyed a breakout, critically lauded hit just yet. Last year's merger allowed for very few new shows, and those that hit the airwaves were short-lived. (Remember Runaway with Donnie "He'll always be a New Kid in my book" Wahlberg?)
But this season, critics are thinking the little-network-that-could may have struck gold in the most unlikely of places ... hell. Reaper, which premiered last night in the 9:00 Eastern/8:00 Central time slot, follows the story of a 21-year-old slacker whose soul has been sold to the devil.
Quirky, well-written, and original, the show has appeared on many critics' lists of the best new shows of the 2007-2008 season. Fans of the brilliant-but-canceled Twin Peaks, which perished in the early 1990s after two seasons, should tune in to see Ray Wise (aka "Leland Palmer") ham it up as an impeccably dressed, steely-eyed Lucifer. Like Buffy years before it, Reaper's protagonist is a young adult, but the show's themes should appeal to a wide audience.
Will new shows like Reaper and the buzz-worthy Gossip Girl enable The CW to run with the four big boys? It's possible, but viewers need to discover the station first.
Beth Gaston Moon is an analyst at Schaeffer's Investment Research.
Closing Bell: Economic Catapult for Thanksgiving & Black Friday (WMT, TGT, GRMN, GOOG, MSFT)
Deere up on Q4 earnings performance
Reid Hoffman: LinkedIn will go public (at some point)
