With Young Broadcasting’s stock up 56% yesterday, it seems Wall Street has a pretty strong hunch about something. Just last week, Young was slapped with a note from Nasdaq threatening to delist the broadcaster, whose stock hovered below a buck for over 30 days.
Young, in the midst of a restructuring that will shave $15 million from expenses, has made it crystal clear that it wants to offload KRON as soon as possible. Are they ready to announce a deal?
Young owns 10 stations around the country.