Putting an end to weeks of rumors, Mark Pedowitz has officially been announced as the new president of The CW Television Network. 

Current CW Entertainment President Dawn Ostroff will assist in the transition through the end of May before leaving the network to relocate to New York.
 
And yes, it should be noted that while Ostroff's title was "Entertainment President," Pedowitz is getting a straight-up "President" title.
 
"Since its inception, Dawn and her team have built The CW into a brand-name destination for young female viewers with franchise shows as well as forward-thinking digital and marketing campaigns," states Nancy Tellem, the executive who oversees The CW for CBS. "We now look forward to Mark leading The CW to even greater heights.  Mark is an outstanding executive with a stellar reputation in our entertainment community.  He brings to the table a strong and diverse background as a business strategist and production executive, as well as a track record of success in all facets of our industry."
 
Since February 2010, Pedowitz has headed the Warner Brothers-based production shingle Pine Street Entertainment. Before that, he served as President for ABC Studios from 2004-2009, where he oversaw hits like "Lost," "Desperate Housewives," "Grey's Anatomy," "Ugly Betty," "Scrubs," "Army Wives," "Ghost Whisperer" and "Criminal Minds." He had been at ABC since 1991, rising through the business and legal affairs ranks.
 
"I'm very excited to be joining The CW and working closely with two great companies like CBS and Warner Bros.," Pedowitz states. "The network has built a strong foundation and powerful identity in its first five years, and I'm looking forward to helping elevate it to even greater success in the future."
 
One last press-release blurb? Sure...
 
"Mark is a seasoned industry leader possessing a strategic combination of business savvy and strong relationships with the creative community," states Bruce Rosenblum, President, Warner Bros. Television Group.  "He's the perfect executive to help us take the network to the next level: a key content driver with vast experience in all disciplines."
 
Pedowitz will come on the job with only a few weeks before The CW announces its 2011-2012 schedule to advertisers. The CW's picture got a little clearer earlier this week with the renewals of five shows including "The Vampire Diaries," "Gossip Girl," "Supernatural" and "America's Next Top Model." Presumably he'll get to weigh in on the fate of "One Tree Hill," plus freshman bubble dramas "Nikita" and "Hellcats."