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Young Cuts Hitting Hard
January 29, 2008

I've got it from multiple good sources that Young Broadcasting is really slashing budget and workforce. According to the sources, CEO Vincent Young has mandated a $20 million cut in expenses across the board, or $2-3 million per station. High-priced talent are among the first to be let go.

Young is of course desperate to unload KRON San Francisco, hiring Moelis & Co. earlier this month to find a buyer. 

One source says WKRN Nashville was hit particularly hard, with around 15 staffers dismissed yesterday. 

Young headquarters referred us to a publicist.

Posted by Mike Malone on January 29, 2008 | Comments (0)