Young Broadcasting, parent company of Lafayette CBS affiliate KLFY TV-10, is being purchased after all — from within. According to the Web site mediapost.com, a group of YB bankers has agreed to purchase the struggling media company for about $220 million.
The announcement comes just days after Young backed out of an auction set for Tuesday. The company reneged on the auction after evidently getting no bids at or above a satisfactory level. Young, which filed for bankruptcy protection in February, posted a net loss of $370 million in 2008. The deal must still be approved by the Federal Communications Commission.
... written by erpud914 , July 16, 2009 - 06:11 pm
Damn! Net loss of $370 million?!? No wonder no one bid enough. So now bankers, who of course know EVERYTHING about television news broadcasting, will be running the shop? We saw what they're capable of in flogging the national economy into the crapper. No telling what they'll do with KLFY and its sister stations!!
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There will soon be a whole lot of shakin’ going on at Benny’s Sportshack Supplement Depot, a new concept by Opelousas native Benny Nele. Located at 2002 Johnston St., the supplement shop, smoothie bar and café, featuring hot off the press paninis and wraps, plans to open in late May.
Philip deMahy Sr., a once respected New Iberia ad exec, was sentenced May 2 to spend the next two years (he faced up to 100 years) in a state penitentiary after state and federal investigators found dozens of images depicting children engaged in lewd sexual acts on his personal computer.
This year’s Cool Town issue is all about people who are not native to South Louisiana but made a conscious decision to be here, to be among us, to participate in our culture and contribute to it.
A shelved ordinance transferring $200,000 from a northside drainage project to a south Lafayette development may not break any laws, but it stinks to high heaven.
An effort to restore a shuttered dancehall and document other vacant or razed honky-tonks could serve as a model for saving an endangered species of entertainment.
Lafayette’s gene pool has been host to a long line of eccentric characters who have blurred the lines between crazy, genius, disturbed and curiously entertaining.
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