Media Industry
Industry: Email Alert RSS FeedThe king of KRON.(Young Broadcasting Inc. outbids NBC for KRON-TV, San Francisco)
Broadcasting & Cable, November, 1999 by Rathbun, Elizabeth A.
NBC stumbles as Young Broadcasting snags San Francisco prize... It was NBC's deal to lose, and it did. NBC made no secret that it lusted for KRON-TV, seeing the San Francisco NBC affiliate as one of the last truly great acquisition opportunities in a major urban market. NBC President Bob Wright went so far as to try and scare away rival bidders, essentially threatening to yank the station's affiliation if anyone but NBC won the auction.
That was good news for Vince Young, chairman of Young Broadcasting. Instead of letting NBC buy the station cheaply, Young says that Wright's now-infamous threat letter sufficiently scared away rivals so that Young could outbid NBC and at $823 million, still pay far less than he anticipated. "It's incredible; it's...
Brought to you by CBS MoneyWatch.com
- Best- and Worst-Paid College Degrees
- 6 Things You Should Never Do on Twitter or Facebook
- How Much Sleep Do You Really Need?
- 6 Big Myths about Gas Mileage
- 5 Rules for Immediate Annuities
- Death in the Family: 12 Things to Do Now
- Dumbest Things You Do With Your Money
- 6 Online Networking Mistakes to Avoid
- 401(k) Mistakes to Avoid
- 5 Economic Scenarios to Keep You Up at Night
- The Real ‘Best Places to Retire’
- Best Credit Cards for You
- 12 Tough Questions to Ask Your Parents
- The Real ‘Best Colleges’
- Home Buyer Tax Credit: How to Cash In
- Why You Shouldn't Bash Cash
- 8 Phony 'Bargains' and Better Alternatives
- Danger: 3 Debit Card Scams to Avoid
- 6 Myths About Gas Mileage
- 29 Fees We Hate Most
- Quick and Easy Ways to Boost Returns
- Best Stocks to Buy Now
- Lower Your Taxes: 10 Moves to Make Now
- New Jobs: 8 Lessons from Real-Life Career Switchers
- The New Job Market: Who Wins and Who Loses?
- Health Care Reform's Public Option: Everything You Need to Know
- Volunteer Work When Unemployed: Should You Work for Free?
- Whose Recovery Is This?
- Long-Term-Care Insurance: 4 Biggest Risks to Avoid
Most Recent Business Articles
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- LIFO vs. FIFO: a return to the basics
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Using object-oriented analysis and design over traditional structured analysis and design
- Design a commission plan that drives sales - Sales Commissions
