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correct so the old young -this- is void
nothing @ all for shareholders of this
the company under Vince's direction failed miserably
he ruined all he inherited from his father.
That plan, approved April 19 and reaffirmed Monday, creates a new company for the Young Broadcasting assets, the New Young Broadcasting Holding Co., or NewCo. All common stock is to be placed in NewCo, with secured lenders receiving equity interests of $338 million. Credit Suisse, Oppenheimer, Highland Capital and Eaton Vance are among Young’s senior lenders. Young had $640 million in publicly traded debt when it filed for Chapter 11 in February 2009. The new company emerges debt free.
both existing plans that are being considered provide for this stock to be cancelled.
so that is the most likely outcome. If you want to dig, use the links in ibox to follow the bankruptcy case as it proceeds.
is it legally possible under the restucturing plan for this company to implement a reverse stock split? is it a matter of fact that the stock will be erased?
PR just out saying judge approved bk plan..common shares gonna be cancelled one of these days. careful:)
YBTVQ still planing to cancil shares on both plans of reorganization. still good for trading until they evaporate
YBTVQ still planing to cancil shares on both plans of reorganization. still good for trading until they evaporate
YBTVQ news today made 19.7 million last year starting another run i just made another pile of money. jump on now this will spike over a dime and mabee a dollar run this time.
ive been making money on ybtvq ever since it got the q.. volume fell for a while and picked up. one the last run i sold for 0.05 and it ran over 0.10 they still operate several stations and have been falling off the radar.. any news other than liquidation will trigger another run. thanks rtrite.. note other stocks i like right now ttdz, mtch, snrs
Why the shares are not canceled yet? CH11 was filed in 02/2009. Sell
at the bid ASAP before the pos scam breaks down the current 52-week
low 0.0013 and hits another new low 0.001 or even 0.0005.
think so ? i realize that the plan does not HAVE TO make this stock worthless, although that is the stated intention.
They are still losing money, albeit barely..
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7159655
Is this stock worth holding? what's the story with this one? i am kind of lost, please update me.
Their is always some volume....if its worthless who is buying?
KRON-TV - Just wondered if anyone has any updates on what the future holds for this once powerful Young Station.......
YOUNG BRDCSTG A #
http://finance.yahoo.com/q?s=YBTVA.PK
(Other OTC: YBTVA.PK)
Last Trade: 0.0230
Trade Time: Feb 9
Change: 0.00 (0.00%)
Prev Close: 0.023
Open: N/A
Bid: N/A
Ask: N/A
1y Target Est: N/A
Day's Range: N/A - N/A
52wk Range: N/A
Volume: 0
Avg Vol (3m): N/A
Market Cap: N/A
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A)
if you still got it hold it!!! things are not going to go as planned
there have been some interesting filings recently... seems there is some interesting back door stuff in the bk proceedings... allen and company.. the kuhn report.. one can only hope vinnie tried to do something behind closed doors and gets caught with his balls in the ringer.. always amazed me how this whole company was bought for 220 mill and the same board stays on and gets options... if he does caught ..good for us.. bad for him..
Best Bid 0.006 (5000 shares)
Best Ask 0.009 (5000 shares)
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=ybtvq
Case Info
http://chap11.epiqsystems.com/clientdefault.aspx?pk=ed9ac8b4-206b-4200-9085-949a2a671e57
47,000 shares at .01
what price are you trying to sell them for ?
Another question: If the shares are worth nothing then whats with the shares that are beening traded... 11/3 388,565, 11/4 232,117 yesterday 102,000, and why are mine not selling??
Yep. Vinny inherited his father's hard work.. and squandered it all with boneheaded, careless moves.
i think it's over. you could try to call CFO James Morgan, see if he will comment. 212-754-7070
prices:
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=ybtvq
So..it's game over?? I was hoping that by some miracle this would turn around..can you still trade it now for a loss?
Looks like current common will get no distributions if the current plan is approved. As a stockholder, you cannot vote on the matter. If the judge approves, new stocks will be issued, and Vincent Young will be one of seven new directors.
No Distribution to current equity.
In effect, this stock will become a shell, with no connection to Young Broadcasting except that is used to be the their stock, but is no longer. Whatever stocks insiders hold, or others, will still own this, but it will no longer represent any ownership of YB.
http://chap11.epiqsystems.com/clientdefault.aspx?pk=ed9ac8b4-206b-4200-9085-949a2a671e57
key documents files
docket for dates.
I received something in the mail from Ameritrade and Share builder about the Young Bankruptcy. "Notice of Hearing for approval" I don't really understand it.. do we have to do anything, or is just an update inregards to the Bankruptcy?
i agree ronnie.. with the cap as low as it is this thing is ready to move , most of the stations I talk too are very happy with the way things are going and they seem to be getting the bk under control.. im betting by december we have will have at least a 10 bagger
http://chapter11.epiqsystems.com/clientdefault.aspx?pk=ed9ac8b4-206b-4200-9085-949a2a671e57
young bk info site.
broadcasting stocks enjoyed a huge rally this summer, many went up 3-4X. young's stations have gone up in value since they filed bk. remember their liabilities weren't too far away from assets based on the old values.
with only 23 million shs, insider ownership high, something may still happen here. it may be time to look into it some more. not saying it's likely, but even if it's a shell, it's market cap is only 230k. might they get warrants in a newco ?
objection deadline Oct 29
Unfortunately, there isn't much info available, since they're still in bankruptcy. There was an attempted auction, which fell through, due to little interest, which I find a little fishy. You can get some little tidbits from court documents and filings, but don't expect any kind of PR's any time soon. I assume that today's filing is what caused the excitement.
http://www.pinksheets.com/edgar/GetFilingPdf?FilingID=6827434
However, if today's buying is any indication, you may very well be able to get .02 or more for your shares. In May, there was a slow climb to .11. It actually started with a day of trading almost EXACTLY like today. Just take a look at a 6 month chart.
Where can I find more information on this company. I have been checking there website as well as they google and yahoo message boards..and there is no active.. No updates nothing... I have been holding this since I got in at .07... at this point I would take .02!
What's going on? Lots of buying all of a sudden. They drove it down recently. Looks like someone sees value. It did seem to be a little low the last couple of days.
Down nearly 44% all of sudden?
i do know that gray is touring the stations seeing what they need.. new equipment etc...why they even kept vinnie on board still stumps me..
Let's hope so. Maybe they can make this a viable company again. Just keep that POS Vinnie away from the controls. I guess we'll know more when they emerge from bankrupsy.
looks like this is good for us??? I see nothing there about any new stock being issued which I would consider a good thing.. thoughts???
New ovnership structure https://fjallfoss.fcc.gov/prod/cdbs/form...
I find it very interesting that EVERY day, NITE has raised the bid a little, slowly accumulating shares when they can entice someone to sell. Pretty much EVERY sell order at the bid over the last few weeks has fallen into their clutches and yet they feel the need to raise the bid to pick up more. Why is that? BTW, I also have noticed how quickly NITE scrambles UP on the ask, sometimes with a very small tap. It's common knowledge that NITE tends to monopolize the spread, whenever possible, but it's VERY unusual for them to creep UP the bid, rather than slowly LOWER the ask. In most cases, they accumulate shares lower and lower on the bid and lower the ask, STILL profiting from the spread AND manipulating the PPS downward. In THIS case, the don't seem willing to SELL shares lower, BUT they are willing to BUY shares HIGHER each day. BTW, they are sharing the ask with DOMS, which means they might not even be willing to sell shares at .018, but instead will let DOMS fill any buy orders. Interesting. These are just some of MY personal observtions and MY opinion only.
general unsecured creditors would receive cash or new equity and the rights to purchase preferred and common stock in the new company, other certain equity holders would new equity and the current management team would stay in place
docket filing 546
not sure what to make of this???
I dont think anyone knows how this is gonna play out.. the purchase agreement does not specifically state what our outcome will be.. there are omitted parts of it that I assume are how the stock will be done.. with them keeping vinnie and most of the other board is to our favor.. they are major holders just like some of us.. my thoughts are he cut some kind of backdoor deal to save is butt along with most of the shares he owns.. therefore saving our butts too..
yes but what will all this mean to the share holders?
It looks like Gray will be running (7) of the Young Stations minus KRON, WATE and WLNS.....
NITE has been playing with this one daily for ages. In fact, if you saw on Friday, they kept lowering the ask, but as soon as a 5K buy went through, they jumped up, quickly. I wouldn't be surprised if there are only a handful of shares available between .02 and .03. NITE knows how to pick up shares cheap and make people think the value of any given stocks is lower than it is, as they load up on shares over time.
No doubt. As I posted before, if they only dumped the stations that are in trouble and kept the money makers, they would be doing very well in a short period of time. In fact, if they dumped a couple of the profitable ones to pay off some debt, they would be doing even better. However, selling ALL the assets for a fraction of their debt and the potential asset value isn't an act of desperation, but a play to move the assets into the hands of others. I'm sure certain people would be well compensated for their part in that fiasco and I don't mean the creditors or shareholders. Their real reward should be elimination from the equation for fraud and extortion.
somebody just bought 40,000 at 2.6 then someone sold 300 at .02 to bring it back down.. mm's haveing a field day with this one..
Your right.. I would have happily bid 221mill if I would have known it would go for that.. I really dont think the judge will sign off on this since the unsecured creditors have a plan to inject 35mill into the company with a good plan of coming out of bk.. all of the stations are doing very well with their ebita's cept for kron and one other.. they are making money as individual stations .. there is something fishy going on behind the scenes and I think the rise in the pps shows that..
Obviously, there is something suspicious going on and the company is going along with it for whatever reason. It DOES seem likely it will be stopped. There is no doubt they could turn things around in time AND that $200M for ALL of their assets is not a valid, fair bid. And the manner in which it was presented AND accpeted was not in the best interest of everyone involved, including shareholders. They may have had an overall plan, but it definitely needs to be elaborated if that's the case. If not, then those who are attempting to claim all the assets for a pathetic amount need to be held accountable and control of the assets should revert to someone, who will continue with the reorganization plan. I still have faith that this play is about to get very interesting.
take the time to read docket 494/495.. this sale is not gonna happen...
http://chap11.epiqsystems.com/docket/docketlist.aspx?pk=ed9ac8b4-206b-4200-9085-949a2a671e57
from yahoo.. this could get very interesting.. think its better odds than vegas though
http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=109872
Here is a reminder of what SP did with Granite.
If Young shareholders are lucky enough to retain 2% ownership in the emerging company they will be very fortunate. Remember there are only 23M Young shares, Class B does not constitute "Preferred" stock, so something like this could happen (could) to Young.
Heck, 2% of $20 (without debt say a 450M company) = .40/sh within months that's a 20 bagger. This would probably be done with warrants or a reverse split then a share issuance (these are if's but SP did allow Granite the 2% plus there would be some gravy options at higher strikes if Vinnie and the small crew are kept)
http://www.bingham.com/Media.aspx?MediaID=5439
that was my take on it also.. not necessary??? this is not a pr release.. its a legal document.. words like that tend to mean something!!!!
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Company Operations to Continue
NEW YORK--(BUSINESS WIRE)--Young Broadcasting Inc. (Pink Sheets:YBTVA - News) and certain of its subsidiaries (“Young Broadcasting,” or the “Company”), today announced that to restructure its balance sheet and to ensure the Company’s long-term financial health, it has filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. As is normal in such cases, Young Broadcasting plans to continue operating its television stations without interruption.
Young Broadcasting has set-up a toll-free reorganization hotline (866-212-0222), for viewers, advertisers, employees, or other interested parties who may have questions related to the reorganization. In addition, parties are encouraged to visit the Company’s Chapter 11 case information website at http://chapter11.epiqsystems.com/ybc, for updates and other information surrounding today’s announcement.
Young Broadcasting Inc.
599 Lexington Avenue
New York, NY 10022
United States - Map
Phone: 212-754-7070
Fax: 212-758-1229
Web Site: http://www.youngbroadcasting.com
The History of Young Broadcasting:
http://www.fundinguniverse.com/company-histories/Young-Broadcasting-Inc-Company-History.html
Young Broadcasting owns ten television stations and the national television representation firm, Adam Young Inc.
Five stations are affiliated with the ABC Television Network:
WKRN-TV — Nashville, TN
WTEN-TV — Albany, NY
WRIC-TV — Richmond, VA
WATE-TV — Knoxville, TN
WBAY-TV — Green Bay, WI
Three are affiliated with the CBS Television Network:
WLNS-TV — Lansing, MI
KLFY-TV — Lafayette, LA
KELO-TV — Sioux Falls, SD
One is affiliated with the NBC Television Network:
KWQC-TV — Davenport, IA
One is affiliated with MyNetwork TV:
KRON-TV — San Francisco, CA
Share Structure as of 09/19/08:
Class A Common Stock: 21,836,161 ( 1 vote per )
Class B Common Stock: 1,941,414 ( 10 votes per, but also Common Stock )
Combined A&B O/S Total: 23,777,575
About Young Broadcasting
Young Broadcasting owns ten television stations and the national television representation firm, Adam Young Inc. Five stations are affiliated with the ABC Television Network (WKRN-TV – Nashville, TN, WTEN-TV – Albany, NY, WRIC-TV – Richmond, VA, WATE-TV – Knoxville, TN, and WBAY-TV – Green Bay, WI), three are affiliated with the CBS Television Network (WLNS-TV – Lansing, MI, KLFY-TV – Lafayette, LA and KELO-TV – Sioux Falls, SD), one is affiliated with the NBC Television Network (KWQC-TV – Davenport, IA) and one is affiliated with MyNetwork (KRON-TV – San Francisco, CA). In addition, KELO-TV-Sioux Falls, SD is also the MyNetwork affiliate in that market through the use of its digital channel capacity.
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