The conversion of warrants to shares has placed television group Young Broadcasting in the hands of Standard General Management LP. Here’s what the company looks like at present.
The company was bought out of bankruptcy for about $220M in a deal filed with the FCC 8/21/09.
Standard General in principally comprised of Acme Amalgamated Holdings LLC, headed by Soohyung Kim, and Purchase Capital LLC, headed by Nicholas Singer. Kim and Singer are considered to be the new company’s principal executives.
Most but not all of the group’s television stations were placed in an LMA with group owner Gray Television. Gray reported in its Q2 financial results release that it has received $1.3M in YTD consulting fees from Young.
Here’s is how the group stacks up at present:
* San Francisco CA: MNT KRON-TV, O&O
* Nashville TN: ABC WKRN-TV, part of the Gray LMA
* Albany-Schenectady-Troy NY: ABC WTEN and WCDC (Adams MA), part of Gray LMA; will enter into JSA/SSA with Shield Media for Fox WXXA-TV, which is being acquired from Newport Television.
* Knoxville TN: ABC WATE-TV, O&O
* Richmond VA: ABC WRIC-TV, part of the Gray LMA
* Green Bay WI: ABC WBAY-TV, part of the Gray LMA
* Davenport IA: NBC KWQC-TV, part of the Gray LMA
* Lansing MI: CBS WLNS-TV, O&O. Young also is LMAing MNT WHTV from Venture Technologies Group
* Sioux Falls SD: CBS KELO-TV, part of the Gray LMA. Also includes satellites KPLO-TV Reliance SD and KDLO-TV Florence SD
* Lafayette LA: CBS KLFY-TV, part of the Gray LMA
* Rapid City SD: CBS KCLO-TV, part of the Gray LMA
