Gray Television will manage most of Young Broadcasting’s TV stations in a plan put forth by Young’s investors, which will take over ownership of Young in a deal valued at $220 million.
According to several reports, the arrangement received preliminary court approval Wednesday (July 22). Gray will handle stations in seven markets, including markets such as Nashville; Albany-Schenectady-Troy, N.Y.; and Green Bay, Wisc.; while Young will continue to manage KRON-TV in San Francisco, WATE-TV in Knoxville, Tenn.
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