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KRON-TV, KNTV talks continue - Broadcasting & Cable

KRON-TV, KNTV talks continue

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NBC continued separate conversations last week with both Young Broadcasting
and Granite Broadcasting about the possible purchase of their San Francisco TV
stations, KRON-TV and KNTV, respectively.

As to timing, one source said a deal could happen as early as this week.

Price is still the big issue in both cases, but more so with KRON -- one
source involved says the KRON talks have cooled while the KNTV talks are 'more
serious now.'

The source says Young is still holding out for more than $750 million for the
station, while NBC has suggested a figure in the $600 million-range.

Young bought it last year for $823 million.

'We've told them their price needs to be more realistic,' a network source
said of Young's asking price.

The bid-ask gap wasn't clear in the Granite talks but the speculation on Wall
Street was that if NBC buys KNTV it will be for between $200 million and $225
million. - Steve McClellan

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