Young to Stay Independent
Young Broadcasting Inc., whose flagship property is KCAL-TV Channel 9, has reversed its plans to seek a buyer.
New York-based Young, a publicly traded firm that owns 12 TV stations around the country and a national television representation firm, had earlier indicated it was exploring options for the future including a sale of the entire company to a larger station group.
But a company official said the sale option had been nixed due to current stock market conditions.
KCAL is the only VHF station in Los Angeles not owned by or affiliated with a network. It was acquired from Walt Disney Co. two years ago.
