CBS Corp. announced that encore telecasts of the popular daytime drama… (Chris Pizzello / Chris Pizzello/Invision/AP )
CBS executives are not wasting any time after buying 50% of the TV Guide Network, announcing plans to heat up the cable channel's evening schedule with the No. 1 daytime drama, "The Young and the Restless."
Beginning this summer, encore episodes of the popular soap will run on the TV Guide Network, also known as TVGN, at 7 p.m. on the same day as their telecast on the top-rated CBS network.
The fan-favorite drama, which is owned by Sony Pictures Television, has been enjoying a second run in cable for many years on SOAPnet, a cable property of Walt Disney Co. However, Disney has said it eventually wants to turn SOAPnet into a channel called Disney Jr. with programming aimed at tots.
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Repeats of "The Young and the Restless" will remain on SOAPnet until this summer, when they will shift to TVGN.
"The Young and the Restless" marks the first program acquisition since CBS Corp. acquired 50% of TVGN last week for about $100 million. Santa Monica-based Lionsgate owns the remaining 50% of TVGN.
The channel is available in about 80 million homes.
"The Young & the Restless," which is produced by Bell Dramatic Serial Co. in association with Sony Pictures Television, celebrated its 40th anniversary last month. It has been the top-rated daytime drama for more than 24 years.
Beyond Wednesday's announcement, CBS has not revealed its programming strategy for TVGN. The broadcasting giant has rights to many classic programs, and others could soon migrate to the cable channel.
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