KRON 4's parent company, Young Broadcasting, (finally) filed for bankruptcy today, according to sources. KRON, once the Bay Area's NBC affiliate, has been for sale since last year. Most recently, Young Broadcasting Inc., skipped out on a $6.125 million interest payment to lenders. Back in November of 2008, Young made public that "it had been unable to sell KRON and might have to file for Chapter 11 bankruptcy protection." Looks like that day has finally come for the beleaguered San Francisco station. KRON bills itself as "the Bay Area's news station," featuring original programming and syndicated shows (like Dr. Phil and Sex and the City reruns). We'll update as soon as we know more.

UPDATE: CBS 5's Eye on Blogs just posted Young's official release sent to employees.

On Friday, February 13, 2009, we announced that in order to facilitate our balance sheet restructuing, we filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in New York. We have more than 20 million dollars of cash on hand and plan to continue to operate our business in the ordinary course as we reorganize. Our television station will continue broadcasting without interruption, our employees will be paid as usual and our vendors and suppliers will be paid for all post-petition goods and services.