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KRON for sale-Young hires advisers to help make a deal by first-quarter end

T

TedL

Young Broadcasting announced today (Thurs., Jan. 9, 2008) that it had hired advisers to help it sell it's San Francisco My TV affiliate, KRON, 4, San Francisco, eight years after purchasing what was then the Bay Area's NBC affiliate.

The current NBC station, NBC owned KNTV, 11, San Jose reported the story this way:

http://www.nbc11.com/news/15022194/detail.html

Up the dial one notch, CBS owned KPIX, 5, San Francisco wrote:
http://cbs5.com/local/KRON.sale.Young.2.627130.html

The SF Examiner:
http://www.examiner.com/a-1149766~Young_Broadcasting_Inc__to_sell_KRON_TV_in_SF.html

Other web news sites carried stories that appear to be written from a Young press release:
http://www.webprowire.com/summaries/1715596.html

And KRON's website didn't mention the sale as of 1:52p.m., PST. Its focus was the budget cuts Gov. Schwarzenegger want to make to California's current spending plan.

Young shares rose 22 cents to close at 94 cents, according to the Marketwatch report.

Ted
 
Geez - I read some of what Young's statements in the NBC11 article. Everybody duck, or you'll get hit with flying BS.

"One of the most prestigious broadcasting properties in the country."

Of course, that statement should begin with "Was", and should end with "...until we destroyed it."

"When we purchased KRON-TV in 2000 we believed we had acquired a jewel and we still feel that is the case today"

Don't need to comment on that one.

The only non-BS statement is: "Our ability to redeploy the proceeds of a sale of KRON-TV, net of transaction costs and expenses, to further our future corporate initiatives may be impacted by, among other factors, our substantial indebtedness..."

No kidding.
 
Anyone have an idea what they might get for KRON? Also is a VHF station worth anything anymore when only a year away we go to digital and there are lots of other UHFs in the Bay Area that can compete then.
 
"I got 5 bucks...Anybody want to chip in with me?"

I've got some left over parking meter change.

Seriously though - note the "KRON in Dire Straights" thread farther down on this board. It was started a few weeks ago on the rumor that Young Broadcasting is now in an untenable position financially, and needs to unload KRON fast. This announcement, and the priviso that they want (need?) to sell KRON by the end of the quarter less than 3 months from now - confirms the rumor.

Make no mistake, this is a fire sale.
 
No loss, KRON has the worst news Ive ever seen,,, Darya Folsom,, where will the Hyper lady go? And George Rask,,Mr Traffic,, Look over at KTVU,, total news commitment #1 all the time! Sal casteneda at KTVU is the best bay area traffic guy! Steve paulson weather,,,Frank Sommerville and Julie Haener,,what a team! If FOX buys KRON ,, i would assume KTVU will suffer a bit with the loss of Cops and AMW sat nite! KRON im sure will dismiss all their line up,,I would hope Vicki Liviakis gets a gig at KTVU !!!!! Shes great! Marty gonzalez is KTVU material,, Hes got a #1 way of doing news, but hes at a last place station! Jan Wahl ,, where will she go?
 
"KRON im sure will dismiss all their line up,,I would hope Vicki Liviakis gets a gig at KTVU !!!!!"

Agree with you about Liviakis, Kenny. She's a fine anchor, as well as being easy on the eyes, as a number of posters have noted here lately. But she's more than that - I watched her do a weekend election special last year (covering the candidates, local issues, and ballot propositions). She handled it as well as any seasoned network anchor, much of it unscripted. Why another SF station has not offered her a better gig is a mystery.

I don't entirely agree about KRON's on-air talent, though. Don't blame the air talent for the fiasco that is KRON's management. I always thought Pam Moore was a good anchor - she was a great team with Pete Wilson in the 90s, and they got the highest ratings at 11:00 before KRON's fall. The other mystery is why Pam stuck around so long - Wilson (RIP) was smart enough to get out as fast as he could.
 
What about Radnich? KRON's on-air talent is a joke I think other than the anchors. Their live reporters look young and unseasoned. Their cameramen are awful...always shaky shots...
 
"What about Radnich? KRON's on-air talent is a joke I think other than the anchors. Their live reporters look young and unseasoned. Their cameramen are awful...always shaky shots..."

I didn't mean to particularly defend the reporters. We all know they're young unexperienced "VJs" (video-journalists) who have to run the mini-cams, and do the reporting, which they have no experience with. Again, the fault of Young management who had to resort to VJs to cut staff and cut costs.

I was defending the few old Chronicle Broadcasting hold-overs that are left - Moore, Catherine Heenan, and a couple of others. A couple of the new people like Heather Donald & Chris Murphy are OK.

I've never been a big fan of Radnich, personally, but he has a longtime following in the Bay Area on both TV and radio.
 
"Hey Jim Gabbert KRON Channel 4 is 4 Sale! Work your magic!"

Good idea. He could even recycle the original TV 20 jingle and image slogan, only this time, it would be:

"We've got what you're looking 4..."

Day-glo KRON 4 billboards and bumper stickers all over the Bay Area. Midday "Mystery Movies" (ha, ha) consisting of Barnaby Jones and Cannon reruns, hosted by TK (Tony Kilbert). The Sunday Night Movie from the Sleazy Arms Hotel. A KRON 4 50's Dance Party hosted by Gabbert in that ridiculous sequin jacket.

What could be better? I'd waste some time watching it...
 
Mark said:
Anyone have an idea what they might get for KRON? Also is a VHF station worth anything anymore when only a year away we go to digital and there are lots of other UHFs in the Bay Area that can compete then.
Click to expand...

The main value (over UHF stations) is in the Ch.4 cable positioning.
 
Though they're being somewhat honest, like mentioning $300 million in losses (whew!), they can't resist the spin:

"Young opted to operate it as an independent station, but that strategy failed."

That's like saying John Kerry opted to continue in the Senate, and not serve as President after coming in second in the 04 election.

In other words, KRON "opted" to not be an NBC affiliate after NBC signed up KNTV and said bye.
 
I read on Usenet a people in the city of San Jose who used to get Channel 11 can't get it now since the transmitter moved.

Leave it to NBC to be able to MOVE a station to San Fran
:)

Really though San Jose is big enough now to be it's own market. (But that's another thread)

Can NBC buy KRON and have a duopoly? I wonder if FOX could buy it and run it as an independent. Of course why would they, but they did pay $450 million for the lousy WPWR Channel 50 in Chicago. (of course it was part of a duopoly). But maybe if they get it on the cheap. Fox seems pretty happy with KTVU so why upset the boat.
 
Mark said:
Can NBC buy KRON and have a duopoly? I wonder if FOX could buy it and run it as an independent. Of course why would they, but they did pay $450 million for the lousy WPWR Channel 50 in Chicago. (of course it was part of a duopoly). But maybe if they get it on the cheap. Fox seems pretty happy with KTVU so why upset the boat.
Click to expand...

Fox could buy it and run it as MyNet, as it is now. Cox owns KTVU if I'm correct, so they theoretically could, assuming they don't go over the ownership cap in the process.

Not sure if they WOULD, but they COULD.

- Trip
 
tripinva said:
Fox could buy it and run it as MyNet, as it is now. Cox owns KTVU if I'm correct, so they theoretically could, assuming they don't go over the ownership cap in the process.
Click to expand...

And it's not without precedent -- in Baltimore, Fox owns WUTB, the city's MyNet affiliate, while Sinclair owns Fox affiliate WBFF (and CW affil WNUV).
 
Since Fox is still on good terms with KTVU, and NBC already own KNTV and KSTS (Telemundo), I cast my vote for "None of the Above 4". ;D
 
Word Life said:
What about Radnich? KRON's on-air talent is a joke I think other than the anchors. Their live reporters look young and unseasoned. Their cameramen are awful...always shaky shots...
Click to expand...

KRON's VJ's shoot with relatively small prosumer sized cameras. And they may be not be shoulder mounted, as are the broadcast cameras other Bay Area station photogs use.

Comparing the two types, it's harder to keep a smaller, lightweight camera from shaking... in part due how it's held, the lack of mass (and inertia) that keeps a larger camera steadier... and the camera may not have any optical or digital movement compensation... or it may not be turned on.

That's why I use a tripod whenever possible. That and the fact that I'm the same generational vintage as KRON, and not in the better shape I was 25 years ago.

TL.
 
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