Young Broadcasting Inc. to sell KRON-TV in SF

Young Broadcasting Inc. (YBTVA) will sell San Francisco’s KRON-TV, its largest television state, the company announced Thursday.

Young hopes to complete the sale before the end of the first quarter, and has hired financial advisors Moelis & Company to assist. The buyer will receive both the stations assets and some tax benefits, the company said.

“When we purchased KRON-TV in 2000 we believed we had acquired a jewel and we still feel that is the case today. KRON-TV is one of the most valuable television stations in the country”, stated Vincent Young, Chairman of Young Broadcasting. “Our decision to sell is based on the high level of interest in the property that we have received. It is purely a strategic economic decision, allowing us to benefit from the proceeds of the sale to further our future corporate initiatives.”

KRON was the largest independent station in the United States until 2006, when it became an affiliate of MyNetwork TV. Young Broadcasting owns ten television stations, five of which are ABC affiliates and one of which is an NBC affiliate, as well as the national representation firm, Adam Young Inc.

businessBusiness & Real Estate

Just Posted

San Francisco supervisors are considering plans to replace trash cans — a “Renaissance” garbage can is pictured on Market Street — with pricey, unnecessary upgrades. (Kevin N. Hume/The Examiner)
San Francisco must end ridiculous and expensive quest for ‘pretty’ trash cans

SF’s unique and pricey garbage bins a dream of disgraced former Public Works director

Pachama, a Bay Area startup, is using technology to study forests and harness the carbon-consuming power of trees. (Courtesy Agustina Perretta/Pachama)
Golden Gate Park visitors may take a survey about options regarding private car access on John F. Kennedy Drive, which has been the subject of controversy during the pandemic.<ins> (Kevin N. Hume/S.F. Examiner)</ins>
Your chance to weigh in: Should JFK remain closed to cars?

Host of mobility improvements for Golden Gate Park proposed

Water towers in Mendocino, where wells have dried up, are pictured in August. (Max Whittaker/New York Times)
As California drought deepens, water use drops only 1.8%

North Coast and Bay Area residents cut water use while Southern Californians didn’t

Dreamforce returned to San Francisco in person this week – but with a tiny sliver of past attendance. (Courtesy Salesforce)
Dreamforce returns with hundreds on hand, down from 170,000 in the past

High hopes for a larger Salesforce conference shriveled during the summer

Most Read