Young Broadcasting, owner of 10 television stations, including WATE in Knoxville and WKRN in Nashville, has shed $800 million in debt and is coming out of bankruptcy with new owners.
” …New Young Broadcasting is emerging from bankruptcy as the most financially sound company in television broadcasting,” according to an extremely short, but positive press release.
Dumping $800M in debt will make you positive.
The announcement doesn’t say when the company will actually exit bankrtupcy.
Here’s a look at other reports on the company and its press release.