Young to sell S.F.'s KRON-TV

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Young Broadcasting Inc. said Thursday that it is putting its San Francisco-based TV station, KRON, on the block. The company, which has retained financial advisers Moelis & Co., said that its goal is to conclude an agreement for the sale of KRON, a MyNetworkTV affiliate, before the end of the first quarter.

"Our decision to sell is based on the high level of interest in the property that we have received," Young Broadcasting chairman Vincent Young said. "It is purely a strategic economic decision, allowing us to benefit from the proceeds of the sale to further our future corporate initiatives."
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