What if you went to a wake - and the GoH showed up?

I cannot figure out what is going on with this WB+UPN=>CW business.

Supposedly, the two networks were combining and in the wake of the merger we would have only one channel.

I get that WB is having something of a wake for itself on Sunday night, starting at 5 p.m. Eastern time. They are airing the first episode of 4 of their blockbuster series from their 12 year life span: Angel, Buffy, Friends, and one other.

But, when I look at the channel guides for the stations that the two former different networks, WB and UPN aired on, they are both running shows throughout the week next week. Does not look like anybody is going dark and unplugging their transmitter.

Does this mean that one of the stations will be winding up with the bulk of the popular new shows in each networks' portfolio, but both stations will continue on broadcasting and airing a mix of new and old shows indefinitely?