**EXHIBIT 11**

 

YOUNG BROADCASTING INC. AND SUBSIDIARIES

RE COMPUTATION OF PER SHARE EARNINGS

 
| ** **                                                                                                                           | ** ** | **THREE MONTHS ENDED** | ** **  | **NINE MONTHS ENDED** | ** ** |
|--------------------------------------------------------------------------------------------------------------------------------------|------------|------------------------|-------------|-----------------------|------------|
| ** **                                                                                                                           | ** ** | **September 30**       | ** **  | **September 30**      | ** ** | **September 30** | ** ** | **September 30** | ** ** |
| ** **                                                                                                                           | ** ** | **2004**               | ** **  | **2005**              | ** ** | **2004** | ** ** | **2005** | ** ** |
| Shares of common stock outstanding for the  entire period                                                                            |       | 19,969,514             |        | 20,532,058            |       | 19,825,271 |   | 20,026,788 |   |
|                                                                                                                                 |       |                   |        |                  |       |   |   |   |   |
| Issuance of 49,868 and 134,031 shares of  common stock to the Company’s defined contribution plan in 2004 and 2005              |       | 19,497                 |        | 62,344                |       | 28,575 |   | 66,773 |   |
|                                                                                                                                 |       |                   |        |                  |       |   |   |   |   |
| Issuance of 4,288 shares of common stock  upon exercise of options in 2004                                                           |       | —                 |        | —                |       | 3,339 |   | — |   |
|                                                                                                                                 |       |                   |        |                  |       |   |   |   |   |
| Issuance of 102,954 and 432,600 shares of  common stock under the 2004 equity incentive plan in 2004 and 2005, net of  cancellations |       |                   |        | (4,230                | )          | 56,362 |   | 153,062 |   |
|                                                                                                                                 |       |                   |        |                  |       |   |   |   |   |
| Issuance of 18,541 and 32,344 shares of  common stock to the employee stock purchase plan in 2004 and 2005                           |       | 9,175                  |        | 15,917                |       | 10,604 |   | 16,540 |   |
|                                                                                                                                 |       |                   |        |                  |       |   |   |   |   |
| Weighted average shares of common stock  outstanding                                                                                 |       | 19,998,186             |        | 20,606,089            |       | 19,924,151 |   | 20,263,163 |   |
|                                                                                                                                 |       |                   |        |                  |       |   |   |   |   |
| Loss from continuing operations                                                                                                      |       | $                      | (12,117,880 | )                     | $          | (21,165,519 | ) | $ | (43,094,640 | ) | $ | (87,874,803 | ) |
| Income from discontinued operations, net of  taxes                                                                                   |       | (13,851                | )           | —                |       | 96,525 |   | 11,203,884 |   |
| Net loss                                                                                                                             |       | $                      | (12,131,731 | )                     | $          | (21,165,519 | ) | $ | (42,998,115 | ) | $ | (76,670,919 | ) |
|                                                                                                                                 |       |                   |        |                  |       |   |   |   |   |
| Basic loss per common share:                                                                                                         |       |                   |        |                  |       |   |   |   |   |
| Loss from continuing operations                                                                                                      |       | $                      | (0.61       | )                     | $          | (1.03 | ) | $ | (2.16 | ) | $ | (4.33 | ) |
| Income from discontinued operations, net                                                                                             |       | —                 |        | —                |       | — |   | 0.55 |   |
| Net loss per common share                                                                                                            |       | $                      | (0.61       | )                     | $          | (1.03 | ) | $ | (2.16 | ) | $ | (3.78 | ) |

 

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