Young Broadcasting looks to extend exclusivity following asset sale

By Caroline Salls

Pittsburgh, July 28 - Young Broadcasting Inc. is seeking a 45-day extension to its exclusive periods to file a plan of reorganization and solicit votes, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the company is asking the court to extend its exclusive filing period to Sept. 17 from Aug. 3 and the solicitation period to Oct. 22 from Sept. 7.

Now that it has sold its assets, Young said the extension will give it time to finalize a plan that will maximize the value of its estates.

A hearing is scheduled for Aug. 11.

New York-based Young Broadcasting owns 10 television stations and the national representation firm Adam Young Inc. The company filed for bankruptcy on Feb. 13. Its Chapter 11 case number is 09-10645.

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