“Tony has advised us that he would like to pursue interests outside of Young Broadcasting, including the ownership of other broadcasting stations. Accordingly, Tony has tendered his resignation as chief executive officer and member of the Board of Directors, effective March 13, 2012. We wish Tony well in his new endeavors,” said Thomas Sullivan, chairman of the Board of Directors.
“I have enjoyed very much my association with Young Broadcasting and I am proud of what we were able to accomplish during my time there,” said Cassara.
Deb McDermott will continue to serve as the President of Young Broadcasting, responsible for day to day operations, and the board will begin its search for Cassara’s replacement.
RBR-TVBR observation: We take this as another sign that the transaction marketplace is heating up. Tony Cassara, a veteran broadcaster/station owner appears to be ready to buy again.