Young's KRON San Francisco for Sale

YOUNG’S KRON SAN FRANCISCO FOR SALE
[SOURCE: tvnewsday]
Young Broadcasting announced that it has retained financial advisers Moelis & Co. to sell the company’s largest station, MyNetworkTV affiliate KRON San Francisco. Young owns 10 television stations and the national representation firm, Adam Young Inc. Young said that its goal was to conclude an agreement for the sale of KRON before the end of the first quarter. In addition to the station’s considerable assets the buyer will benefit from certain favorable tax attributes. Until 2006 when it became an affiliate of My Network TV, KRON was one of the largest independent stations in the United States and the only independent VHF in its market.
http://www.tvnewsday.com/articles/2008/01/10/daily.12/

* Young Broadcasting Wants Quick Sale for KRON
http://www.broadcastingcable.com/article/CA6519541.html

* KRON-TV's For Sale
Young paid $737 million for the station in 2000, buying it from the company that formerly owned The Chronicle. But Young's brief ownership of the 59-year-old KRON proved to be tumultuous. The station had been an NBC affiliate for decades, but Young and NBC parted ways in a bitter dispute over renewing the affiliation. NBC demanded that the station pay the network $10 million to carry its programs - the opposite of the usual arrangement between a TV station and a network. Young refused. As a result, KRON became an independent station in 2002 and promptly saw its ratings drop. Many of its most recognizable faces - including news anchor Pete Wilson - left. Then, in 2006, the station became an affiliate of MyNetwork TV, owned by News Corp.'s Fox network.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/01/10/BUNSUDC6A.DT...