Young Broadcasting says it will shut down Adam Young Inc., the television rep firm launched by its namesake founder in 1944, the end of this month. Effective in February the Young stations will have national representations from the Cox Reps group.
“Adam Young Inc. has been such an important component of our business and it was with mixed emotions that we made this very important decision. The TV rep business has changed dramatically over the past decade, with an increasingly complex business environment forcing a wave of consolidations. Now, with Young Broadcasting financially structured as one of the strongest and healthiest television broadcast companies, we have joined forces with Cox, an industry leader. Together, both companies are poised to succeed and to take advantage of our rebounding business environment, as well as the new digital rep revenue system,” said Young Broadcasting LLC President Deborah McDermott in announcing the move.
Cox Reps is the nation’s largest TV rep firm, comprised of TeleRep, HRP, MMT and the digital, multi-platform sales rep firm Cox Cross Media. It will represent Young’s 10 stations for national sales and will establish a dedicated Young Broadcasting sales team based in New York, Los Angeles and Chicago.
“This marks the end of an era,” said Vincent Young, chairman of Young Broadcasting LLC. “Throughout its 67 years, Adam Young Inc. has operated successfully and outlasted every other in-house station rep firm by delivering outstanding results. The wonderful sales and support teams have effectually carried out my father’s original, ground-breaking vision of exclusive representation over these many years.”
Adam Young Inc. has operated from 11 offices throughout the country. Young Broadcasting, then a public company, acquired the rep firm in 1997. Young Broadcasting is now in the process of emerging from Chapter 11 reorganization as a private company owned by its former creditors.