Company Profile

Utilizing a disciplined acquisition strategy to build a formidable station group, Young Broadcasting Inc. (NASDAQ: YBTVA), since it was founded in 1986 by Vincent and Adam Young, has blossomed into one of the largest and fastest growing broadcast station groups in America. This strategy has become increasingly more important as the role of a station group has expanded significantly due to the consolidation of station ownership.

With the addition of KRON-TV in San Francisco, Young Broadcasting owns and operates ten television stations in geographically diverse markets, and the national television representation firm, Adam Young Inc., with a total U.S. television household coverage of 6.02%. The company is the fifteenth largest television group based on coverage (excluding network, religious, home shopping and foreign language station groups). Concerning its station acquisition and management policies, Young Broadcasting has achieved an industry reputation for purchasing stations at below market multiples and operating stations at profit levels superior to those achieved by the prior station owners.

Due in large part to its aggressive cost controls as well as an emphasis on targeted marketing and strong local presence in the individual station's communities, Young Broadcasting currently achieves broadcast cash flow margins that are among the highest in the nation.

The centerpiece of Young Broadcasting's operating strategy has been the development and maintenance of strong local franchises. In this regard, Young Broadcasting stations are #1 in news in a number of markets including, WLNS-TV/Lansing, WBAY-TV/Green Bay, KLFY-TV /Lafayette, KELO-TV/Sioux Falls, and KWQC-TV/Quad Cities. KRON-TV/San Francisco, is the number one independent station in the country's fifth largest market. In addition to focusing on local news, the group's individual stations also place a major emphasis on local sports programming and community affairs.

Young Broadcasting's strategic plan calls for a continuation of an aggressive station acquisition program to further build its broadcast group. Through group ownership come expanded opportunities to become an even more important player in the television industry