Broadcasting & Cable
A year has passed since Gray Television‘s deal to manage seven Young Broadcasting stations kicked in, yet Gray remains stuck on the sidelines until it gets the green light from Young. Gray has been paid $2.2 million by Young in year one of a three-year deal.
It’s one of the more peculiar arrangements in local TV’s recent history. Gray TV President/COO Robert Prather says Young, reborn as New Young Broadcasting after being taken over by its senior lenders, continues to pay on time.
New Young held a meeting in Nashville last week for its top management. More…