929144--3/16/2007--YOUNG_BROADCASTING_INC_/DE/

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{debt, indebtedness, cash}
{capital, credit, financial}
{condition, economic, financial}
{regulation, change, law}
{personnel, key, retain}
{operation, natural, condition}
{provision, law, control}
{competitive, industry, competition}
{regulation, government, change}
{acquisition, growth, future}
{system, service, information}
Website Access to Company Reports KELO, Sioux Falls, South Dakota. FEDERAL REGULATION OF TELEVISION BROADCASTING Cable and Satellite Carriage of Local Television Signals We have substantial debt and significant interest payment requirements We depend on the cash flow of its subsidiaries to satisfy our obligations, including its debt obligations Covenant restrictions under our Senior Credit Facility and the indentures governing our senior subordinated notes may limit our ability to operate our businesses Our business in the past has been adversely affected by national and local economic conditions We are dependent on networks for our programming, and the loss of one or more of our affiliations would disrupt our business and could have a material adverse effect on our financial condition and results of operations by reducing station revenue at the affected station(s) We may experience disruptions in our business due to natural disasters or terrorism We may experience disruptions in our business if we acquire and integrate new television stations The departure of one or more of our key personnel could impair our ability to effectively operate our business or pursue our business strategies Our business is subject to extensive governmental legislation and regulation, which may restrict our ability to pursue our business strategy and/or increase our operating expenses Recent Enforcement Activity by the Federal Communications Commission May Adversely Affect Our Business We operate in a very competitive business environment Management, as major stockholders, possesses unequal voting rights and control

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