The new network will also be available to other affiliates who want to join, The Hollywood Reporter said.
UPN has merged with The WB network to form a new network -- The CW -- which will be jointly operated by CBS and Warner Bros.
Fox is calling the new operation My Network TV, and describing it as a "network for the 21st century." The new network will begin with 12 hours of prime time programming Mondays through Saturdays.
Fox executives Wednesday announced the first two shows the new network will carry -- "Desire" and "Secrets." Both shows will feature one self-contained story arc over 13 weeks, in the manner of telenovelas that are highly popular in Latin American TV markets.
Fox Television Stations Chairman Roger Ailes told entertainment reporters in New York the new operation will profitable from day one.
"Frankly it's an opportunity to make money for the television stations," said Ailes.
My Network TV is scheduled to debut Sept. 5.
Notable deaths of 2014 [PHOTOS]