Wall St. eyes KRON-TV deal.(Brief Article)

Broadcasting & Cable, March, 2000 by McCellan, Steve

Young's depressed stock price has financial community wondering Will the Young Broadcasting deal to acquire KRON-TV San Francisco be completed? Chronicle Publishing Co. wasn't commenting last week, although Young continues to insist it will. There was growing skepticism on Wall Street last week, though, given Young's depressed stock price, since NBC announced two weeks ago that it was taking the NBC affiliation away from KRON and selling it to Granite Broadcasting for $362 million.

When KRON and Young announced their deal last November, the plan was for Young to pay $650 million in cash and about $173 million worth of Young stock, based on the trading price of the stock at that time. But as of last week, with Young's stock trading at around $24,...

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