Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
no doubt he is gonna pull out of this bk doing well.. all the docket filings I have been looking at make me think we will be looking at a slimmer // profitable ybtva!!! go young
Nice. .07's are on up. eom
there is no doubt it will continue to rise.. with money sucking KRON about to be bought by oak hill not to mention all the lease re-neg there were able to do in BK.. I see this at .50 in 2 months..young has always had $$$making stations kron just drug it down.. JMO
.06 - Dare I think we go large from here?
LoL no doubt some of them well deserved!
Nobody will ever accuse Vinnie of thinking small!
Hopefully, he's older and wiser, and ready to start thinking smart. Good luck with your trades, custome4eyes, it should start to get interesting around here.
GLTA !!
young has retained Allen and company to lead them thru the buys and mergers.. this guy has a hell of a reputation .. he oversaw the oakhill buyout along with comcast,cbs and gray tv.. i got a feeling all of us who bought in low and did not run like mice are about to be nicely rewarded!!!!!! i may be about to take back all the bad things I said about vinne...
Nobody has really been watching it much so far.
There are some other pretty high profile companies getting a fair amount of attention on the Q board right now.
What's rough, is these other companies are not making their move, so the money is more or less frozen.
The log jam should start breaking up pretty soon though. For now we got our own pond. LoL
I'm (impatiently) waiting to hear something on the KRON auction. I think it was today (still Monday in Washington!).
Will post as soon as I have something. Best regards TNC
GLTA !!
Each leg up is going to have some flip flops. I'm sure there are many people holding that are just looking to recover their investment and don't think there's any potential. So far, there doesn't seem to be too many willing to sell or the buyers are overwhelming them. There's got to be some that are kicking themselves for selling near .01 at this point. LOL
Somebody got some .045's, but we still close UP 12.5%
Couple more days like that and we got something!
GLTA !!
Quietly UP 37% on light (57,000 total!) volume.
That's insane. Our little secret LoL! Good luck and good trading to all.
We may stay under the radar while some of the bigger names are pursued.
Good opportunity to accumulate, the way I see it.
This moves real easy with any volume at all, like we saw Friday.
Figured that's how it would go, but it's always sweet to see hypothetical theory translate into practical realty.
Wouldn't break my heart if we had another week to get more, but ............. one never knows!
Good trading everybody.
Love that last line - "tangible progress has been made toward the Debtors’ goal of developing a competitive cost structure while increasing revenues."
.05 printed. I just knew it wouldn't take much to move this thing LoL ! Good luck and best regards.
GLTA !!
In the approximately three months since the Petition Date,
the Debtors and their advisors have dedicated significant time and resources to, among other
things, (i) negotiate with the prepetition secured lenders regarding cash collateral issues, (ii)
beginning the process of analyzing hundreds of leases and executory contracts to identify those
that are beneficial to the Debtors’ estates and seeking to reject those that are not, (iii) negotiating
significant reductions in programming agreements resulting in hundreds of thousands of
immediate cost savings for the Debtors, (iv) finalizing and filing the Debtors’ schedules of assets
and liabilities, income and expenditures and executory contracts and unexpired leases and their
- 4 -
statements of financial affairs, (v) addressing a multitude of creditor, supplier and customer
inquiries, (vi) developing bidding procedures and discussing and negotiating the same with the
prepetition secured creditors and the Committee, (vii) actively marketing the Debtors’ to raise
new capital or for a sale of substantially all of their assets pursuant to Section 363 of the
Bankruptcy Code and, in connection therewith, meeting with prospective bidders and responding
to a number due diligence requests, (viii) responding to a variety of due diligence requests from
the prepetition secured creditors and the Committee, (ix) drafting a detailed plan term sheet and
negotiating the same with creditor constituencies, (x) defending an appeal of the order
authorizing the retention of the Debtors’ counsel, and (xi) defending objections to the retention
of the Debtors’ financial advisors.
9. As a result of these extensive efforts of the Debtors and their advisors, tangible
progress has been made toward the Debtors’ goal of developing a competitive cost structure
while increasing revenues.
Now at .046 ask ! Anybody watching this? What a hoot, it moves SO EASY ! Another trade or two and she'll probably be over .05 LoL !
Just kidding, but it is fun to watch. Good luck to everybody, and best regards.
GLTA !!
OOps meant for it to be public - i know the first piece you are talking about. It is usually stated as a concern when these securities are first thrown into BK.pretty standard but nothing is set in stone. Plus things are changin with Charter and the addition of this lawsuit means they mean business , the new reorganization plan, plus the information i gave you was from the most recent 8k as of may 8th.
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6591995
best wishes Cork and i'm throwin you a personmark!!!
happy trading......
Cheers, I dated CHTRq quite a few times around, may the tide of fortune go your way as well! GLTY ;oD
Hope you are right about that Ecostate.
I tried to find that link, and no luck. Do you know the piece I'm talking about, and in your opinion is this more current than that?
I did notice their website has changed in the 10-12 days since I looked last, so things are definitely changing even in that little time. I'm gonna wait and see on that, but hope it works out the best it possibly can for all involved. Best regards and good luck.
GLTA !!
cork- not true with CHTRQ , things are changing with Charter. It seems shareholders will have rights to new shares and disbursed accordingly. From recent 8K "Copies of the Investor Certificate pursuant to which the certifications described in the immediately preceding paragraph are to be made were disseminated through the facilities of The Depository Trust Company on April 17, 2009.
In order to be “timely,” Investor Certificates must be properly completed and delivered by 5:00 p.m. Prevailing Eastern Time on May 11, 2009, as more fully set forth in the Investor Certificates.
Holders must timely complete the Investor Certificates in order to receive rights, in the case of Eligible Holders, or New Class A Stock in lieu of rights, in the case of Ineligible Holders. Holders of CCH I Notes should contact their broker, bank, or other nominee where they hold their CCH I Notes for more information."
take care and happy trading
I'd still rather be here than there. I thought the CHTRQ shareholders were supposed to get hozed in the final deal, but I can't remember the link.
Either way, they are gonna be stuck trading in that range for a while.
With our "knuckle ball" float, if we had a fraction of their volume for just one day, this thing would go through the roof.
I'm just as glad everybody is recycling through that other stuff in a way. If I can get a trade off tomorrow I'm gonna try and pick up some .03's.
Hope your other trades are working out for you fredman.
We just got to be patient, the crowd will come to quality. Besides, the KRON auction is just 4 days away! Best regards and good luck.
GLTA !!
Correct, however, CHTRq has VOLUME!
4 days to go until the big auction. Too bad to lose KRON but sometimes the pile has to "burn" in order for the Phoenix to rise again.
When the "Q" traders appreciate the value of trading value AND % points we will rip.
Knuckle ball float + limited ownership + Debt restructured = an easy quad (from these levels) on the spike and maybe more.
Beats that cable company that's getting a fair amount of play right now!
Status of shareholders on that one worries me, and is gonna leave a lot of folks high and dry. Best regards and good luck.
GLTA !!
"I think these guys have a lot more going for them than most people realize. There are a lot of new technologies out there."
I agree, new technology is is a driving force and the resulting innovations are revolutionizing the marketplace. Take a look at Genius Products, GPNR. The company is developing a new video game called Scratch The Ultimate DJ. Looking beyond that, I see potential in Scratch The Ultimate VJ (Video DJ) and handheld devices as the future driving forces in the entertainment industry for the delivery and distribution of media (Audio and Video) content to the consumer.
I see the potential, hopefully Young can effectively unload KRON, GLTY :OD
I think these guys have a lot more going for them than most people realize. There are a lot of new technologies out there.
Even a scaled down Young Broadcasting is still a player and is gonna surprise a lot of people.
Q players are gonna quit screwing around with the "time bombs" they are playing catch with sooner or later.
We're better than most of that stuff, and when folks are ready to get out of the garbage and into a company that could actually make it we'll get some volume.
Best regards and good luck.
GLTA !!
I envision a resurgence of independent DTV content, merger for Young is a possibility, imo.
we need to remember that most if not all of the debt load was from the buy of kron and the cost of operating it .. once it is gone we be looking good long term!!
Don't be scared. It's ok. LOL
The debt load is scary.
No doubt someone has been accumulating in fairly small chunks. Not much volume, but NITE always seems to be on the bid, loading up.
Hate to lose KRON, but perhaps a reigned in and solvent YBTVQ can concentrate on the core remainder.
Nobody will ever accuse Vinnie of thinking small!
Hopefully he is old enough to start thinking smart!
He's still a name in the industry, and somehow always seems to land on his feet. Curious to see how this story is gonna unfold. Best regards and good luck guys.
GLTA !!
young and oak hill.. hearing that they are about to pick up 4 young stations kron being one.. not sure about the price but considering the pps move over the past weeks it must be enough to do some good and pull out of bk ... just wish they would get rid of vinne!!!
Low volume on most days for quite a while. Let's see what happens today.
Im with you on that.. something must be going on. we go from zero trades yesterday to this today???
I have to say I'm a little surprised there wasn't even ONE post here today, considering the stock was up almost 200% at one point and closed over 100%. Did everyone give up?
I don't know if that accounts for the movement yesterday. Of course, it doesn't take much to move this up or down right now with such low volume. I knew the .008's wouldn't last long. Ask is back up to .009. Probably only a handful of shares there. I'm tapped or I'd pick them up.
i know according to the docket filings the unsecured creditors won the battle to be a part of the bidding process.. I consider that good news since anything now a-days is not worth what it really is.. that being the case the secured debt holders will not be able to purchase assets(hopefully kron) for the price they want. The filings said they wanted to have the min bid at 100m.. that cant happen now so I would think come apr 19th when the bidding starts we will see some movement when some assets are sold to relieve some debt load.
Ask down to .008 again. Any new developments? Doesn't seem to drop below .01 for very long.
the bidding start june 19.. i wonder how much kron will go for?? does anybody have any idea what is going on the block????
There's no doubt about one thing. This moves pretty quickly with any real buying pressure. They're closing the spread finally, with very little volume. It didn't take much to move the ask from .007, where it was for a few days to .01. NITE dropped it to .009 yesterday after a couple of .01 buys. And at the same time, the bid jumped from .007 to .008. I'll bet it won't take much to knock NITE back out, which only leaves 1 MM below .015. Bottom line is that if something starts to brew, a move up will be quick.
I have been told by several Young Management types that it looks like the court will remove Vince as the ceo...Deb McD probably will be gone as well.
transcripts of the hearing on 3/25 have been sealed by the bk judge???? something must be cooking. I do know from looking at the docket filings there is a battle between secured and non-secured debt holders.. this very well may turn out to be another granite.. i think the boys at silver may own more than what we thought!! time will tell.. glta
How about that insane spread we have now that someone needed $240 worth of stock? That's just sad. .006/.01
Highest volume day in some time. Based on past movements, this should have climbed higher yesterday. Especially with almost all buys.
agreed.. i have read all the docket filings so far and young is not is as bad of shape as i thought...if the boys at silver were looking to get a deal .. vinnie may have pulled a fast one on them!!!!
Very interesting. I guess that explains the volume and bump in PPS today. Volume wasn't huge, but nearly all buys. This can move quick with very little buying pressure. I'm still holding shares. Might be a good idea to add tomorrow.
filings are out on the docket for viewing.. only 1.3 mill in unsecured debt.. also revenues ytd are looking good..
Higher volume and PPS today. Has anyone heard anything?
EDIT: And now NITE raised the bid to .008. Hmm...
might want to check out the docket filings on epicsys.. some interesting stuff going on...
The Chapter 11 petition that Young Broadcasting filed Friday lists total assets of $575.6 million, including the current value of KRON-TV San Francisco, which it bought a few years back for $820 million. The company’s debt load is $980.4 million, including $640 million face value of publicly traded bonds.
Keeping creditors notified during the Chapter 11 restructuring process won’t be anywhere nearly the expensive proposition currently faced by Tribune Company. Young estimates that it has fewer than 50 creditors. It has not yet filed a list of the major creditors and the amount each is believed to be owed.
Surprisingly, the company estimated that it has only 99 shareholders for its 21,864,047 shares of Class A stock. Only 49 (employees and Young family members) hold the 1,941,414 shares of super-voting Class B stock.
As the Young Broadcasting board of directors approved the decision to file for Chapter 11 reorganization, the board also appointed David Pauker as CRO – Chief Restructuring Officer. He is a restructuring specialist from Goldin Associates. The CRO is to report to and take direction from CEO Vincent Young and the board of directors. He is to assist the board and management in negotiating with creditors.
RBR/TVBR observation: We don’t know yet exactly how much of Young’s debt is owned by Silver Point Capital, but it is believed to be substantial. It could be that Silver Point has a particular interest in KRON. The investment group already owns Granite Broadcasting, acquired through a Chapter 11 process, which just happens to own Independent KOFY-TV San Francisco. If we were running Silver Point, which we’re not, we would certainly have some interest in exchanging our big chunk of Young’s debt for KRON, creating a duopoly in the sixth largest US market.
http://www.rbr.com/tv-cable/12930.html
this is possibly worth holding here, or buying at .005 or less, with a long term horizon.
Consider what Silver Point gave the Granite shareholders.
Company Notes
Note=12-11-06 company filed petition under Chapter XI of the Federal Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. Case No. 06-12984 (ALG). Plan of Reorganization effective 6-4-07: holders of 12.75% Exchangeable Pfd to receive 0.99812353 sh New Com & 2.49530882 shs New Class A Warrants for each Pfd sh held; holders of Class B Com to receive 0.00508283 sh New Com, 0.01270708 sh New Class A Warrant, and 0.01270708 sh New Class B Warrant for each sh Com held; holders of 9.75% Senior Secured Notes due 12-1-10 to receive 20.36220751 shs New Com per $1,000 face amt.
over1/2 million trades today.. anybody have any thoughts on why the volume spike?? who is buying??
Followers
|
16
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
1266
|
Created
|
06/25/08
|
Type
|
Free
|
Moderators |
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.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |