(via KnoxViews) - TVNewsday has the scoop on our potential new bosses.

There may not have been a bidding war for bankrupt Young Broadcasting, but there was an active competition to manage the 10 stations for the secured lenders that are expected to end up as the new owners.

And, according to a bankruptcy document released this morning, Gray Television came out the apparent winner. “The lenders contemplate that the debtors will enter into a leased management agreement with Gray Television,” the filing said.

If the court approves the lenders’ bid, a move that could come later today, Gray could begin running the stations in earnest once the FCC approves the transfer of licenses. That’s expected to take 90 to 120 days once the license transfer applications are submitted.

This entry was posted on Wednesday, July 22nd, 2009 at 11:41 am and is filed under News, TV. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.