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Six months after the company announced its $36 billion merger with (the original) [[Westinghouse Electric Corporation|CBS Corporation]], in March 1999, Viacom applied a contractual clause that would – within a 45-day grace period – force Chris-Craft to either buy Viacom out of UPN, or have the former sell its ownership stake in the network to Viacom. Three days later on February 8, Chris-Craft subsequently filed a lawsuit against Viacom in the [[New York Supreme Court]] to block the latter's merger with CBS, claiming that a pact signed between the two partners in 1997 had prevented either from owning "any interest, financial or otherwise" in "any competing network," including CBS, for a four-year period through January 2001. On March 17, New York Supreme Court judge Herman Cahn ruled against Chris-Craft's move for a permanent [[injunction]] to curtail the Viacom-CBS merger and the enforcement of Viacom's ultimatum.<ref>{{cite news |title = Viacom Makes 2 Offers to BHC on TV Venture |url = https://www.nytimes.com/2000/02/04/business/viacom-makes-2-offers-to-bhc-on-tv-venture.html |newspaper = The New York Times |date = February 4, 2000 |url-status = live |archive-url = https://web.archive.org/web/20171103205351/http://www.nytimes.com/2000/02/04/business/viacom-makes-2-offers-to-bhc-on-tv-venture.html |archive-date = November 3, 2017 }}</ref><ref>{{cite news |title = BHC Sues UPN Partner Viacom over CBS Deal |url = https://www.latimes.com/archives/la-xpm-2000-feb-09-fi-62554-story.html |first = Sallie |last = Hofmeister |newspaper = Los Angeles Times |date = February 9, 2000 |access-date = September 2, 2015 |url-status = live |archive-url = https://web.archive.org/web/20151015095028/http://articles.latimes.com/2000/feb/09/business/fi-62554 |archive-date = October 15, 2015 }}</ref><ref>{{cite news |title = Chris-Craft Loses UPN Ruling |url = https://www.nytimes.com/2000/03/17/business/chris-craft-loses-upn-ruling.html |newspaper = The New York Times |date = March 17, 2000 |access-date = September 2, 2015 |url-status = live |archive-url = https://web.archive.org/web/20151015095032/http://www.nytimes.com/2000/03/17/business/chris-craft-loses-upn-ruling.html |archive-date = October 15, 2015 }}</ref>
Unable to find a suitable partner, on March 20, Chris-Craft allowed Viacom to buy out its 50% stake for $5 million, giving Viacom full control of the network.<ref>{{cite news |title = Viacom Buys Chris-Craft's Stake in UPN for $5 Million |url = https://www.nytimes.com/2000/03/21/business/viacom-buys-chris-craft-s-stake-in-upn-for-5-million.html |first = Bill |last = Carter |newspaper = The New York Times |date = March 21, 2000 |access-date = September 2, 2015 |url-status = live |archive-url = https://web.archive.org/web/20151117102355/http://www.nytimes.com/2000/03/21/business/viacom-buys-chris-craft-s-stake-in-upn-for-5-million.html |archive-date = November 17, 2015 }}</ref><ref>{{cite web |title = Viacom Wins UPN so Let the Digestion Begin |url = http://www.medialifemagazine.com:8080/news2000/mar00/news20321.html |periodical = [[Media Life Magazine]] |date = March 2000 |access-date = May 4, 2013 |url-status = dead |archive-url = https://web.archive.org/web/20130617235807/http://www.medialifemagazine.com:8080/news2000/mar00/news20321.html |archive-date = June 17, 2013 }}</ref><ref>{{cite web |title = UPN Deal Done; Viacom Buys out Chris-Craft Share |url = http://www.highbeam.com/doc/1G1-62239976.html |first1 = Melissa |last1 = Grego |first2 = Joe |last2 = Schlosser |periodical = Broadcasting & Cable |date = April 10, 2000 |access-date = June 22, 2013 |url-status = dead |archive-url = https://web.archive.org/web/20140611025706/http://www.highbeam.com/doc/1G1-62239976.html |archive-date = June 11, 2014 }}</ref> This gave UPN the rare distinction of being one of the only broadcast networks to not have had [[owned-and-operated station]]s (O&O) in the three largest media markets, New York City, Los Angeles, and [[Chicago]] (with The WB – the only network that never have had an O&O – being the only other, as minority owner [[Tribune Broadcasting]] owned most of its charter affiliates including those in [[WPIX|all]] [[KTLA|three]] [[WGN-TV|markets]], while majority owner Time Warner only owned [[WPCH-TV|WTBS-TV]], an independent station that originated then-[[superstation]] [[TBS (TV network)|TBS]]). With Viacom taking full ownership control of UPN, KCOP-TV and WWOR-TV lost their statuses as O&Os and automatically became affiliates of the network, with the network's ''[[de facto]]'' owned-and-operated flagship stations becoming [[Philadelphia]] outlet [[WPSG]] (now
Shortly afterward, Viacom shortened the network's official name from the "United Paramount Network" to the three-letter initialism, "UPN". Viacom also proposed a rebranding of UPN into the "'''Paramount Network'''", using a prototype logo based on Paramount's mountain logo, which served as the basis for the "P" triangle in the network's original logo that was used until September 2002.<ref>{{cite news |title = Media Talk: UPN Will Become Paramount Network |url = https://www.nytimes.com/2000/07/31/business/media-talk-upn-will-become-paramount-network.html |first = Jim |last = Rutenberg |newspaper = The New York Times |date = July 31, 2000 |access-date = September 2, 2015 |url-status = live |archive-url = https://web.archive.org/web/20151015094613/http://www.nytimes.com/2000/07/31/business/media-talk-upn-will-become-paramount-network.html |archive-date = October 15, 2015 }}</ref><ref>{{cite news |title = UPN Network Will Carry On Without Its 'U' |url = https://www.latimes.com/archives/la-xpm-2000-jul-26-ca-59125-story.html |first = Greg |last = Braxton |newspaper = Los Angeles Times |date = July 26, 2000 |access-date = September 2, 2015 |url-status = live |archive-url = https://web.archive.org/web/20151015094628/http://articles.latimes.com/2000/jul/26/entertainment/ca-59125 |archive-date = October 15, 2015 }}</ref><ref>{{cite news |title = UPN's Name in 2001: Paramount Network |url = https://www.latimes.com/archives/la-xpm-2000-jul-26-fi-59235-story.html |agency = Associated Press |newspaper = Los Angeles Times |date = July 26, 2000 |access-date = September 2, 2015 |url-status = live |archive-url = https://web.archive.org/web/20151015095147/http://articles.latimes.com/2000/jul/26/business/fi-59235 |archive-date = October 15, 2015 }}</ref> This idea was abandoned after many affiliates protested, citing that the rebranding might confuse viewers and result in ratings declines, alongside the costs of rebranding their stations with a new image and new network (and possible call sign changes). Several years later, cable television network Spike (part of Viacom) re-branded as [[Paramount Network]].
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