Struggling San Francisco television station finds no buyer at auction

Struggling San Francisco TV station fails to sell

SAN FRANCISCO — San Francisco television station KRON-TV, valued last year at less than 20 percent of its 1999 purchase price, failed to sell at auction this week.

KRON-TV’s owner, New York-based Young Broadcasting Co. put the station on the block.

Young purchased KRON-TV in 1999 for $823 million then dropped its NBC affiliation, running the station as an independent. That strategy failed, and the station’s ratings plunged. KRON-TV was valued at $150 million in 2008.

Young Broadcasting filed for bankruptcy in February.

The company announced its decision to sell KRON-TV last year, citing interest in the property.

A call to a company spokeswoman Friday was not immediately returned. KRON-TV’s general manager says the station will continue to operate as usual.