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.