Young Broadcasting says things are looking up in its latest quarterly financial statement, although it is still operating at a loss. A $14.9 Million loss in the first quarter of 2008. That's less than the $25.3 Million loss it reported in the first quarter of 2007.
Political ads are contributing to added income, the company's spending is flat and operating expenses are down, the company says in the statement.
Read it here:http://www.youngbroadcasting.com/phoenix.zhtml?c=76078&p=irol-newsArticle&ID=1140213&highlight=
KRON-TV, SF is still for sale, the statement says, and "The Company continues to pursue this process with interested parties."
It doesn't name them.
To hear it from the Horse's Mouth and ask questions today at Noon, PDT:
Young Broadcasting has scheduled a conference call for Tuesday, May 6, 2008 at 3:00 PM (ET). You may participate in the conference call by dialing 888-552-9135 (Passcode: YOUNG, Leader: Vincent Young). This will enable you to listen to the presentation. At the end of the presentation you will have the opportunity to participate in a Q&A session with Vincent Young, Chairman of Young Broadcasting Inc. and with James Morgan, the company's CFO.
You may listen to a live webcast of the call via the Company's website at www.youngbroadcasting.com
. The archive will be available for replay through June 3, 2008. The webcast is also being distributed through the Thomson StreetEvents Network. Individual investors can listen to the call at www.earnings.com
, Thomson's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson StreetEvents (www.streetevents.com
), a password-protected event management site. You may listen to a telephone replay of the entire call by dialing 888-566-0692 through May 12, 2008.