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has filed for bankruptcy protection. Young, based in New said it filed voluntary petitions for relier under Chapter 11 in order to restructure its balancesheet “and to ensure the company’s long-term financial health.” “Our decision to restructurr through a Chapter 11 filing will allow the companuy to bring its debt in line with currenrt economic realities so that we can emerge a strongere and more financially securw company,” said Vincent Young, Young Broadcasting’sw chairman.
“It is important to note that we are restructurinfour debt, not our We believe that the company will emerge from Chapter 11 better equipped to thrive in this changingt economic environment with less I strongly believe that our Chapter 11 filinv is in the best interests of Youngv Broadcasting, its viewers, advertisers, employees, and otherf key constituents.” Young Broadcasting owns 10 television stations and the nationak television representation firm,
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