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Young Puts KRON On the Block (Broadcasting and Cable)
Executive Quote and Information Service : EQUIS, January, 2008
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Young Broadcasting retained financial advisors Moelis & Co. to help unload MyNetworkTV affiliate KRON San Francisco. The company seeks to reach a sale agreement for KRON before the end of the first quarter.
Young was widely seen as having overpaid when it put up a then-record $823 million for KRON in 2000, when it was an NBC affiliate. After a battle with the network (which lost to Young in its efforts to buy KRON), the station became an independent in 2002. ...
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