New Young Broadcasting’s Vincent Young is stepping down as chief executive and will take on the role of non-executive chairman, B&C reports, citing a company memo from Chief Restructuring Officer Kevin Shea that was dated Aug. 19.
The memo, which was sent to employees, also notes that the company’s chief financial officer, Jim Morgan, will be leaving the company in October, the story says. The changes come a year after Gray Television’s arrangement to manage seven of Young’s stations, which the story calls "one of the more peculiar arrangements in local TV’s recent history."
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