WWE just posted the following on their site:
On Raw, Michael Cole and JBL will be joined each week by WWE Hall of Famer Booker T, while the new SmackDown announce team will consist of Cole, newcomer Byron Saxton and incomparable WWE Hall of Famer Jerry “The King” Lawler. Cole, JBL and Lawler will continue to call the action during WWE pay-per-view events.
Check out both of these announce teams in action on Raw, Monday night at 8/7 CT on USA Network, and SmackDown on its new night, Thursday at 8/7 CT on Syfy!