[1] Deborah A. McDermott was named president and CEO of the new company,[2] in which Standard General L.P., an American hedge fund, maintained a controlling interest.

[4] The newly merged company would continue to operate as Media General with headquarters in Richmond, Virginia and trade on the New York Stock Exchange.

[7][8] The massive debt load Young incurred from its purchase and ownership of KRON was widely believed to have been a contributing factor to the company's 2009 bankruptcy declaration.

[9] On July 22, 2009, a New York bankruptcy judge approved a plan transferring ownership of Young and its stations to the company's secured lenders (among them Wachovia and Credit Suisse) for $220 million.

[10][11][12] WBAY and KWQC would eventually be purchased by Gray in 2017 as part of spin-off requirements to close the Media General merger with Nexstar mentioned below.

In 2013 Young introduced an editorial philosophy dubbed "One Newsroom", which uses multi-platform publishing systems to quickly distribute content across their broadcast, web, mobile, and social media assets.

[17] In January 2012, Young signed an affiliation agreement with The Walt Disney Company's Live Well Network for eight of its stations to carry the digital multicast channel (WKRN-TV, WRIC-TV, WTEN, WATE-TV, WBAY-TV, WLNS-TV and KLFY).