Young Broadcasting Just Got A Little Less Younger

[DToTheJ]

Vincent Young, who had been CEO of Young Broadcasting until last summer, when he was demoted to a non-executive chairman role, has left the company.
http://www.broadcastingcable.com/article/465802-Vincent_Young_Out_at_Young_Broadcasting.php

It was under Vincent's watch that longtime NBC affiliate KRON in San Francisco became an independent - with less than flattering results.

 

[mescutia]

I remember reading somewhere that Vincent Young was insistent that the company's ten stations be kept together even in a sale. I doubt that'll happen now.

 

[nathannah]

I hope this results in WBAY in Green Bay finally getting an owner who will do much more for them than Young has done since they were bought from the old Nationwide Broadcasting division in 1993. Although they have dominant news ratings and a good staff and probably one of the best weather teams in the region, they've only had THREE graphics changes since 1993, aren't anywhere near getting to HD since their set stuck in the basement of a very underutilized building has been the same one since 1989, only re-paneled and re-Duratrans'ed occasionally, and has a mediocre syndicated schedule (though that's more CBS still treating WFRV well even three years after they sold it to Liberty Media than anything else and the genius deal Emmis made for the Sony game shows on WLUK before they got out of broadcasting months later).

Really, all of Young's stations could easily be market leaders (and they got lucky with WBAY and KQWC, along with the KELO network), but not putting money into a television station like Young did, especially ten of them and botching up KRON should be a lesson that should be taken by other possible station owners in mind in the future.

 

[LKellerIII]

Really, all of Young's stations could easily be market leaders (and they got lucky with WBAY and KQWC, along with the KELO network), but not putting money into a television station like Young did, especially ten of them and botching up KRON should be a lesson that should be taken by other possible station owners in mind in the future.

No way in the world KRON will ever be a "market leader." The station's fate was sealed in 03 when they lost the NBC affiliation. The Bay Area has 3 independent TV stations (including KRON), and there will be a 4th if the CW goes away. That's too many in the current 200 channel cable/satellite world. That's why nobody has stepped forward to make an offer for KRON, and never will until it's value drops to fire-sale status.

The "lesson" you speak of is applicable to any business, not just broadcasting. I have to believe that the Youngs wanted KRON so badly that they were willing to acquire it at any cost. Remember that they out-bid NBC for the station. NBC was smart enough to realize that the station could not operate profitably given the debt involved in the super-inflated purchase price - and that was with the NBC network affiliation. If you recall, once NBC dropped out, and Young "won" the bidding war, NBC pulled its affiliation.

At that point, Young should have put away its pride, and begged NBC to buy the station - even at a significant loss. It would have been a single hit to their bottom line, not the drip-drip-drip of slow death that they've been experiencing.

 

[recto101]

Really, all of Young's stations could easily be market leaders (and they got lucky with WBAY and KQWC, along with the KELO network), but not putting money into a television station like Young did, especially ten of them and botching up KRON should be a lesson that should be taken by other possible station owners in mind in the future.

No way in the world KRON will ever be a "market leader." The station's fate was sealed in 03 when they lost the NBC affiliation. The Bay Area has 3 independent TV stations (including KRON), and there will be a 4th if the CW goes away. That's too many in the current 200 channel cable/satellite world. That's why nobody has stepped forward to make an offer for KRON, and never will until it's value drops to fire-sale status.

The "lesson" you speak of is applicable to any business, not just broadcasting. I have to believe that the Youngs wanted KRON so badly that they were willing to acquire it at any cost. Remember that they out-bid NBC for the station. NBC was smart enough to realize that the station could not operate profitably given the debt involved in the super-inflated purchase price - and that was with the NBC network affiliation. If you recall, once NBC dropped out, and Young "won" the bidding war, NBC pulled its affiliation.

At that point, Young should have put away its pride, and begged NBC to buy the station - even at a significant loss. It would have been a single hit to their bottom line, not the drip-drip-drip of slow death that they've been experiencing.

Rip KRON. Its incredible Young make KCAL 9 before 2002 a high rated station but once they have KRON 4 the station looks like its going to die. KRON should be sold or go off the air for good.