Dying newspapers have company…

Associated Press by way of tvspy.com writes about Young Broadcasting filing for Chapter 11.

Of note to me because I have buddies working for KRON in San Francisco – one of the company properties.

AP goes on to say

TV broadcasters in the U.S. are under pressure as the economic downturn sends advertising revenue spiraling downward. Credit rating agency Moody’s Investors Service warned last week that broadcasters entered the recession with high levels of debt and already were struggling to retain audiences as more customers turn to portable gadgets and the Web for entertainment.

What goes around, comes around.

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