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Young Broadcasting Inc. Announcement on Credit Facility Interest Payment

Posted on: Mon, 09 Feb 2009 08:14:00 EST

Symbols: YBTVA

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NEW YORK, Feb 09, 2009 (BUSINESS WIRE) --
YBTVA | Quote | Chart | News | PowerRating -- Young Broadcasting Inc. (Pink Sheets:YBTVA) announced today that, as
part of a strategy to preserve liquidity, it determined to forego making
the $4.513 million interest payment due February 6, 2009 on the
company's Senior Secured Credit Facility due 2012. Under the terms of
the facility, a 10-day grace period will apply to the missed interest
payment.

As previously disclosed, Young Broadcasting continues to pursue
discussions with its debtholders to restructure its balance sheet,
improve liquidity, and strengthen its business operations to enhance its
value for its employees, viewers, advertisers and local communities. The
company does not anticipate that these discussions will impact the
operations of its stations or its ability to pay its trade creditors in
the ordinary course.

About Young Broadcasting

Young Broadcasting owns ten television stations and the national
television representation firm, Adam Young Inc. Five stations are
affiliated with the ABC Television Network (WKRN-TV - Nashville, TN,
WTEN-TV - Albany, NY, WRIC-TV - Richmond, VA, WATE-TV - Knoxville, TN,
and WBAY-TV - Green Bay, WI), three are affiliated with the CBS
Television Network (WLNS-TV - Lansing, MI, KLFY-TV - Lafayette, LA and
KELO-TV - Sioux Falls, SD), one is affiliated with the NBC Television
Network (KWQC-TV - Davenport, IA) and one is affiliated with MyNetwork
(KRON-TV - San Francisco, CA). In addition, KELO-TV-Sioux Falls, SD is
also the MyNetwork affiliate in that market through the use of its
digital channel capacity.

Any statements in this press release that are not historical facts are
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended. Readers are advised that
such forward-looking statements are subject to risks and uncertainties
that could significantly affect actual results from those expressed in
any such statements. Readers are directed to Young Broadcasting's Annual
Report on Form 10-K for the year ended December 31, 2007, as well as its
other filings from time to time with the Securities and Exchange
Commission, for a discussion of such risks and uncertainties. Such risks
and uncertainties include, among other things, our ability to reach any
agreement with respect to any restructuring, our ability to meet our
liquidity needs, the impact of changes in national and regional
economies, pricing fluctuations in local and national advertising,
volatility in programming costs and geopolitical factors. Statements
included in this press release are based upon information known to the
Company as of the date of this press release, and the Company assumes no
obligation to update or revise the forward-looking statements contained
in this press release, except as otherwise required by applicable
federal securities laws.

For more information, visit www.youngbroadcasting.com.

SOURCE: Young Broadcasting Inc.

Young Broadcasting Inc.
Audrey Young
202-408-3932 (o)
202-256-4521 (c)
ayoung@sonnenschein.com

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