WATE BANKRUPTCY

First...these are Y O U R
posted comments on the financial
problems of Young Broadcasting and
their Knoxville station..Channel 6






Anonymous Anonymous said...

NEW YORK -- Young Broadcasting Inc., owner of 10 TV stations affiliated with the CBS and ABC networks, including two in Tennessee, said Friday it has filed for Chapter 11 protection in U.S. bankruptcy court in the Southern District of New York.

The New York-based company said it will continue to operate the stations without interruption.

"Our decision to restructure through a Chapter 11 filing will allow the company to bring its debt in line with current economic realities so that we can emerge a stronger and more financially secure company. It is important to note that we are restructuring our debt, not our operations," says Chairman Vincent Young in a written statement.

TV broadcasters in the U.S. are under pressure as the economic downturn sends advertising revenue spiraling downward. Credit rating agency Moody's Investors Service warned last week that broadcasters entered the recession with high levels of debt and already were struggling to retain audiences as more customers turn to portable gadgets and the Web for entertainment.

At the same time, broadcasters -- and some of their cable counterparts -- are facing tough times absent must-see television such as major political campaigns or the Olympics.

On Thursday, the country's fourth-largest cable operator Charter Communications Inc., said it expects to file for bankruptcy by April 1 and get relief from creditors.

The St. Louis-based company has never made a profit since it began trading publicly in 1999.

And last December, Chicago-based Tribune Co., which owns flagship newspapers such as the Los Angeles Times, Chicago Tribune, The (Baltimore) Sun, The Hartford Courant and other dailies, as well as 23 television stations and the Chicago Cubs baseball team, sought bankruptcy protection amid a $13 billion debt load and sinking ad revenues.

Young Broadcasting owns a national television representation firm, Adam Young Inc., and the following stations:

WATE-TV in Knoxville, Tenn. (ABC)

WKRN-TV in Nashville, Tenn. (ABC)

WTEN-TV in Albany, N.Y. (ABC)

WRIC-TV in Richmond, Va. (ABC)

WBAY-TV in Green Bay, Wis. (ABC)

WLNS-TV in Lansing, Mich. (CBS)

KLFY-TV in Lafayette, La. (CBS)

KELO-TV in Sioux Falls, S.D. (CBS)

KWQC-TV in Davenport, Iowa (NBC)

KRON-TV in San Francisco



Sunday, February 15, 2009 2:35:00 PM EST
Anonymous Anonymous said...

WTF-old news...don't wast our time on copy & paste stuff..When Walker just posted about the same stuff..give us something new or nothing at all.

Sunday, February 15, 2009 9:54:00 PM EST
Anonymous Anonymous said...



Anonymous #2--You have permission to kiss my rosy red ass. I'll contribute anything I damn well please. Get off your own lazy ass and find something to contribute instead of bitching about what someone else has added. The story above is confirmation of what Walker wrote earlier. If you can't handle copy & paste, stick your head back in your ass where it belongs.



Sunday, February 15, 2009 10:23:00 PM EST
Anonymous Anonymous said...

how can anyone believe what is posted on this thing? Everyone knows the bog hates channel 6 and makes up things about the station.



Sunday, February 15, 2009 10:54:00 PM EST
Anonymous Anonymous said...

Are we a little aggravated Mr. WATE
copy and paste poster?..What will you copy and paste next?..Sure it'll be something already covered
in Walker's blog!!...and I'll just stay on my lazy ass and post about idiots like you!!..and I don't need permission to kick your ass do I?...that's what I thought..How about you posting something new and relevant?..go on if you can


STOP THE SHOW! HOLD YOUR HORSES!
GET A GRIP!

WE (the management and staff of THE MEDIA REPORT)
must comment on this exchange between
the two obviously irritated posters.

WHEN someone suggests a CRANIAL ANAL INSERT
we must put our foot down our raise our hands to
the heavens and do our best to ENCOURAGE more of
such exchanges! ZEEK ESPECIALLY LOVES
THE PASSION AND FIRE!


As for the situation at WATE...
The MR Legal Eagle, Shifty J. Grisham
tells us that Bankruptcy tant always
a bad thing, for the OWNERS of the joint.
Shifty also said there are more chapters of
Bankruptcy than there are of his new book,
"The Mutilated Client Who Skipped On His Lawyers Bill"
Shifty would have explained the ins and outs of
the one WATE and their owners are in (Chapter 11) but
he said he would have to kick in the meter and
suggested we let you the interested click right here for
the inside skinny. Just before he left to
have lunch with a soon to be HOT Divorcee he is representing
he mentioned something about talent contracts
and pay just MIGHT be reset or at the least renegotiated
not unlike those of the Unions at GM. When asked
to elaborate he yelled he had no time
due the fact he had to make a pre-lunch
run by the Whiskey Store for a quart
of Wild Turkey.

Naturally Young Broadcasting (WATE's mother ship) announced late on a Friday to keep the flack to a minimum. STILL, when Zeek was on the heated porcelain throne Saturday morning
he found several mentions of it in the Wall Street Journal.

Unlike the fine release from WATE (see POSTER ONE ABOVE) the
big story talks about a station in Calf being Young Broadcasting's "Bridge Too Far" and kinda blames the
soon to be court appearance on it.

Finally we turned this over
to our Media Psychic the renowned
Hindu from Huntington ISEEFORABUCK and
he says he will do his best to
have an OBE (out of body experience)
and transport his OBE body to
any and all discussions
between staff and suits at
Graystone. He does caution
that often times the results of
his OBEs are determined by the
amount of bribe money he carries
along in is OBE pants.