End of the Third Quarter for Young Broadcasting

[LKellerIII]

Just noting the end of the third quarter. If you remember, Young Broadcasting put KRON up for sale in January and predicted a sale of this "broacasting jewel" by the end of the first quarter of 08.

Even if some other entity (Fox, NBC) was actually interested in buying KRON before this financial crisis the country is now faced with - what are the chances that anybody will take the plunge now with tight credit, high interest rates, and tanking ad revenues?

 

[e-dawg]

So......When does KTVU contract with FOX expires?

 

[Michael Rivers Kramer]

"The New...KRON-4...Home of My Network TV and the most infomercials in the Bay Area! :-\"

It's a sad affair for Northern California's third oldest television station. KRON will be 59 years old in November.

 

[TedL]

Young's stock price is now trading around 5.25 cents a share.

It has 21.84 million shares of stock outstanding. Meaning its value is now less than $1.5 Million.

If NBC/GE really wanted to own KRON (and a number of smaller market NBC affiliates) they could buy the entire company now for <ahem> significntlyless than $800+ Million Young paid for KRON. *(Assuming, among other things that the buying of significant amounts of Young stock didn't drive up the price...)

The downside is that the buyer would also be saddled with the debt Young has. On which it appears to be paying interest of $16 million to $18 million a quarter.
http://finance.yahoo.com/q/is?s=ybtva

And it's not earning even half that much.

In early Sept., NASDAQ approved Young's request to move the listing of the company's common stock from the NASDAQ Global Market to the NASDAQ Capital Market, effective 9/10... and to allow the company to remain listed under an exception, through Nov. 28.

The company has until then to become compliant with the appropriate listing standards in that time.

If it can't do that... there won't be much of a Merry Christmas around YBTVA. Off to the stock trading Pink Sheets?

 

[TedL]

Re: End of the Third Quarter for Young Broadcasting-Correction

I should revise the sentence that says:

"If NBC/GE really wanted to own KRON (and a number of smaller market NBC affiliates) they could buy the entire company now..."

They'd only get one NBC affiliate. KWQC, Davenport, Iowa.

Even if the entire batch were NBC affiliates, I doubt that NBC would be interested. It's been divesting of stations outside the top markets... with the sale of "NBC 6" Miami one of the examples.

Five of the Young stations are affiliated with American Broadcasting Companies, Inc. (ABC), three are affiliated with CBS Inc. (CBS), one is affiliated with National Broadcasting Company, Inc. (NBC), and one is affiliated with MyNetworkTV... and you know which one that is.

 

[e-dawg]

So.......when does KTVU contract expire with FOX?

 

[TedL]

So.......when does KTVU contract expire with FOX?

Why would anyone on the boards here have that info?

You might find that info as part of the station's Public Information File, which could be online as part of KTVU's website.

Affiliation agreements are sometimes part of FCC filings, so you could check the FCC records.

Or you could call KTVU and ask them.

And then you could post it under a new heading.

 

[Madmansam]

"The New...KRON-4...Home of My Network TV and the most infomercials in the Bay Area! :-\"

Actually KKPX-TV CHANNEL 65 has the most infomercials in the Bay Area. KICU-TV CHANNEL 36 also has that distinction but I don't know who has more infomercials, KRON or KICU?

 

[e-dawg]

KRON 4 Programs besides News or Infomercials.

Dr. Phil
Sex in the City
Inside Edition
The Insider
Entertainment Tonight
Jack Hanna Animal Adventure (E/I requirements).
Thats It.

I'm not sure if Entertainmentstudios.com is part of a program or Infomercial.

 

[JackBauer112]

I'm not sure if Entertainmentstudios.com is part of a program or Infomercial.

It's a program. Most stations air that show during the overnight hours.