Category Archives: Station Sales/Purchases

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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Raycom Acquisition of WBRC/Birmingham Earns Rave Reviews

Employees at former FOX O&O WBRC/Birmingham are sighing and high-fiving with news Raycom has picked up BRC in a station swap with station group Local TV LLC, which gets WTVR/Richmond.  Broadcasting and Cable has the nitty gritty on the $85 million deal.

Media guru @mtoney on Twitter summed it up this way:  “Great move for Raycom, so-so for Local.”  BRC’s newsers seem to agree.

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