NASDAQ Delists Young; Company Can’t Sell KRON, Onetime Powerhouse in SF

KRON/SF, once a strong NBC station, has suffered since its purchase by Young Broadcasting, losing its NBC affiliation, and this week, Young lost its listing on NASDAQ, as shares tumbled into the three-cents-a-share range. “Burdened by what some investors believe is a prominent asset with a questionable future and more broadly, the overall malaise in the ad market,” Young’s trading was moved to an over-the-counter market, reports mediapost.com.

KRON, ever a source of lively debate and rumor among San Francisco local tv newsers, has lost most of its marquee talent and moved to a one-man-band newsgathering model since becoming an affiliate of My Network TV. In its first day of over-the-counter trading Tuesday, mediapost.com reports Young shares dropped another 33%.

Other station groups in similar trouble, reports the site: Gray, Entravision, and Lin. Read more here.

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3 Comments

Filed under Station Sales/Purchases

3 responses to “NASDAQ Delists Young; Company Can’t Sell KRON, Onetime Powerhouse in SF

  1. Brian Trombetta

    With the Young Properties (KRON) being auctioned off sometime in July could NBC/Universal snatch up the frequency and move KNTV back into San Francisco? This sounds kind of an unlikely wild move but lately we have seen KNTV beefing up their news operations adding Suzanne Shaw as Chief Editorial Editor, Susan Blake in the morning and Jeff Ranieri from New York as their Chief Meteorologist.
    NBC has always wanted a presence in San Francisco and this opportunity could possibly happen.

    The Telemundo Station KSTS would be reassigned to Channel 11/12 (12 DTV) and KNTV would go to 4/38 (38 DTV). Ofcourse this is all pure speculation but something to think about.

    • I think the last thing I’d ever want to do is to make any prediction on any part of the endlessly-debated topic of KRON, NBC and San Francisco. I will say, however, that if NBC did somehow move KNTV onto Channel 4 or any of the other long-discussed theories, it would have one clear effect: there’d be nothing left to talk about on ShopTalk’s Watercooler.

  2. Ginelli

    No way that NBC would move KNTV to Channel 4 since they already built a new state of the art digital studio in San Jose for NBC 11, Telemundo 48, and CNBC Silicon Valley.

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