Young Cuts Hitting Hard
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.