**EXHIBIT 11**

 

YOUNG BROADCASTING INC. AND SUBSIDIARIESRE COMPUTATION OF PER SHARE EARNINGS

 
|                                                                                                                   |   | **THREE  MONTHS ENDED** |       | **SIX MONTHS  ENDED** |   |
|------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|------------|-----------------------|--------|
|                                                                                                                   |   | **June 30  2003**       |       | **June 30  2004**     |   | **June 30  2003** |   | **June 30  2004** |   |
| Shares of common stock outstanding for the  entire period                                                              |   | 19,742,203              |       | 19,848,301            |   | 19,717,544 |   | 19,825,271 |   |
|                                                                                                                   |   |                    |       |                  |   |   |   |   |   |
| Issuance of 42,808 and 29,011 shares of  common stock to the Company’s defined contribution plan in 2003 and 2004 |   | 24,535                  |       | 14,561                |   | 28,607 |   | 18,499 |   |
|                                                                                                                   |   |                    |       |                  |   |   |   |   |   |
| Issuance of 14,350 and 4,288 shares of  common stock upon exercise of options in 2003 and 2004                         |   | 3,352                   |       | 981                   |   | 1,685 |   | 2,859 |   |
|                                                                                                                   |   |                    |       |                  |   |   |   |   |   |
| Issuance of 7,527 and 7,990 shares of  common stock to the employee stock purchase plan in 2003 and 2004               |   | —                  |       | —                |   | 7,191 |   | 7,288 |   |
|                                                                                                                   |   |                    |       |                  |   |   |   |   |   |
| Weighted average shares of common stock  outstanding                                                                   |   | 19,770,090              |       | 19,863,843            |   | 19,755,027 |   | 19,853,917 |   |
|                                                                                                                   |   |                    |       |                  |   |   |   |   |   |
| Loss from continuing operations                                                                                        |   | $                       | (7,569,673 | )                     | $      | (9,564,361 | ) | $ | (26,021,427 | ) | $ | (30,866,384 | ) |
| Income from discontinued operations, net of  taxes                                                                     |   | 2,190,335               |       | —                |   | 2,190,335 |   | — |   |
| Net loss                                                                                                               |   | $                       | (5,379,338 | )                     | $      | (9,564,361 | ) | $ | (23,831,092 | ) | $ | (30,866,384 | ) |
|                                                                                                                   |   |                    |       |                  |   |   |   |   |   |
| Basic loss per common share:                                                                                           |   |                    |       |                  |   |   |   |   |   |
| Loss from continuing operations                                                                                        |   | $                       | (0.38      | )                     | $      | (0.48 | ) | $ | (1.32 | ) | $ | (1.55 | ) |
| Income from discontinued operations, net                                                                               |   | 0.11                    |       | —                |   | 0.11 |   | — |   |
| Net loss per common share                                                                                              |   | $                       | (0.27      | )                     | $      | (0.48 | ) | $ | (1.21 | ) | $ | (1.55 | ) |

 

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