A New York hedge fund has filed papers with the Securities and Exchange Commission asking to convert stock warrants it holds in New Young Broadcasting, the post-bankruptcy parent of Nashville's ABC affiliate, WKRN News2. The planned move by Standard General would give it more than 50 percent of New Young, which owns stations in 11 cities around the country.
Television station operator Young Broadcasting, which owns WKRN News2 and is run by that station's former GM Deb McDermott, has promoted Bob Peterson to vice president of station operations and relocated him to Nashville. Peterson had been Young's VP of business development and GM of its station in Richmond, Va.
Deb McDermott, President of Young Broadcasting LLC, stated “We have been reviewing numerous networks for our digital sub channels, and with the popularity of country music we believe that TCN presents not only the most attractive programming for our viewers, but the best revenue opportunity for us as well.”
“It seemed like it was as good a time as any,” Kinsey said today. “It seemed like now was a good time to step off the merry-go-round and focus on what I’ve been interested in in the last couple of years.”In all, Kinsey spent 17 years with Young, which emerged from bankruptcy protection in June, Before that, she was with Heart Argyle and LIN Television.