Young at Heart
We write up a lot of earnings reports each quarter, and frankly, it’s not one of the more exciting aspects of the job. But we make an exception for Young Broadcasting, which reports Thursday. Vincent Young always seems to have something interesting to announce–whether it’s the plan for a quick sale of KRON San Francisco last January ("Our decision to sell is based on the high level of interest in the property we have received," said Young, who’s still holding KRON eight months later), or a strategy to save the broadcaster $15 million through layoffs in February, or a 41% boost in operating income in the first quarter of this year, thanks in large part to the layoffs at its 10 stations.
Has Young found a buyer for KRON? Will Young sell the stations? Will anyone buy them?
"They’ve got a $3 million market cap," says an analyst friend. "That is $3 million more than what it’s worth."
Stay tuned…
nick commented:
dc post will buy kntv nbc not sell wtvj hearst sell wbal to nbc and buy kron
Bay Area Reports commented:
Many of our television analysts here think that Hearst will buy the station. We are also hearing that Fox will buy KNTV and the NBC affiliation will move to KRON. Hearst has KCRA, KSBW and My Network 58 in Stockton. So Hearst will come to the table and Vincent will either say yes or no.