MANHATTAN (CN) – Young Broadcasting filed for Chapter 11 bankruptcy, listing $825 million in debts. It will continue operating its 10 TV stations. The company says it has been unable to sell KRON-TV in San Francisco, its largest market. Young bought the station for $820 million in 2000, put it up for sale in January 2008 and took it off the market in November, according to industry reports.
Also filing were KWQC-TV (of Iowa), WBAY-TV (of Wisconsin), KLFY-TV (of Louisiana), WATE-TV (of Knoxville), WKRN-TV (of Nashville), KRON-TV (of San Francisco), KELO-TV (of South Dakota), WLNS-TV (of Michigan), WRIC-TV (of Virginia), WTEN-TV (of Albany, N.Y.), Winnebago Television Corp., Fidelity Television, Adam Young Inc., and Honey Bucket Films.
Young is represented by Sonnenschein Nath.