Young Broadcasting Inc. today announced that it has retained financial advisers Moelis & Co. to sell the company's largest station, MNT affiliate KRON San Francisco.

Until 2006 when it became an affiliate of My Network TV, KRON was one of the largest independent stations in the United States and the only independent VHF in its market.

Young said that its goal was to conclude an agreement for the sale of KRON before the end of the first quarter. In addition to the station's considerable assets the buyer will benefit from certain favorable tax attributes.

“When we purchased KRON-TV in 2000 we believed we had acquired a jewel and we still feel that is the case today,” said Vincent Young, chairman of Young Broadcasting. “KRON-TV is one of the most valuable television stations in the country,” he continued. “Our decision to sell is based on the high level of interest in the property that we have received. It is purely a strategic economic decision, allowing us to benefit from the proceeds of the sale to further our future corporate initiatives.”

Young owns 10 television stations and the national representation firm, Adam Young Inc.