Tuesday, February 17, 2009
Could KRON, KOFY become a duopoly?
With KRON 4 owner Young Broadcasting entering Chapter 11, the spotlight has shifted to the company's creditors, the people who are really in charge. RBR.comTVBR.com posits an interesting theory. A group called Silver Point Capital apparently owns a substantial piece of Young's debt. Silver Point Capital also acquired Granite Broadcasting, owner of KOFY 20, through the bankruptcy process. "If we were running Silver Point, which we’re not, we would certainly have some interest in exchanging our big chunk of Young’s debt for KRON, creating a duopoly in the sixth largest US market," writes RBR.comTVBR.com.