News 2 getting new management company
Posted on July 22, 2009 at 5:34 pmAtlanta-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
Posted on June 30, 2009 at 8:17 amInvestors 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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Shares of News 2 parent delisted
Posted on January 27, 2009 at 2:50 pmOfficials at Young Broadcasting say they will not contest the ruling by the Nasdaq, which resulted in its shares going off the exchange this morning. The company has a market company of a little more than $1 million.
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News 2 parent skipping bond payment
Posted on January 16, 2009 at 7:55 amYoung 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
Posted on December 15, 2008 at 7:27 amNews 2 and its nine sister stations are back on the Dish Network.
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Channel 2 off the Dish?
Posted on December 11, 2008 at 3:14 pmIt could happen, says industry pub Multichannel News, detailing Young Broadcasting’s quest for cash.
“We believe that a penny per day per subscriber is a reasonable demand for our award-winning news, sports and entertainment programming.”
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