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News 2 getting new management company

By Geert De Lombaerde Posted on July 22, 2009 at 5:34 pm

Atlanta-based Gray Television has reached a deal with creditors of bankrupt Young Broadcasting to take over the management of seven of the latter’s TV stations, including News 2.

Gray (Ticker: GTN) runs more than 30 stations around the country, including stations in Knoxville and Bowling Green. Young President Deb McDermott, who ran News 2 before moving up the ladder, is getting a new contract.

SEE ALSO: What Kleinheider dug up

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News 2 parent headed for auction block

By Geert De Lombaerde Posted on June 30, 2009 at 8:17 am

Investors looking to bid on bankrupt Young Broadcasting’s assets have until July 10 to submit their papers, according to recent court documents filed in New York. Young, which owns WKRN News 2 as well as 10 other TV stations around the country, filed for Chapter 11 early this year, unable to handle its debt load. Operating numbers for May show that WKRN posted a profit of almost $237,000 on net revenue of $1.9 million.

HT: Bonna Johnson

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News 2 parent skipping bond payment

By Geert De Lombaerde Posted on January 16, 2009 at 7:55 am

Young Broadcasting says it has a 30-day grace period on the note and has hired UBS and a national law firm to help it analyze its restructuring options.

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Welcome back

By Geert De Lombaerde Posted on December 15, 2008 at 7:27 am

News 2 and its nine sister stations are back on the Dish Network.

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