**EXHIBIT 11**

 

YOUNG BROADCASTING INC. AND SUBSIDIARIES

RE COMPUTATION OF PER SHARE EARNINGS

 
| ** **                                                                                                             | ** ** | **THREE MONTHS ENDED** | ** ** | **SIX MONTHS ENDED** | ** ** |
|------------------------------------------------------------------------------------------------------------------------|------------|------------------------|------------|----------------------|------------|
| ** **                                                                                                             | ** ** | **June 30  2004**      | ** ** | **June 30  2005**    | ** ** | **June 30  2004** | ** ** | **June 30  2005** | ** ** |
| Shares of common stock outstanding for the  entire period                                                              |       | 19,848,301             |       | 19,960,746           |       | 19,825,271 |   | 19,924,700 |   |
|                                                                                                                   |       |                   |       |                 |       |   |   |   |   |
| Issuance of 29,011 and 62,217 shares of  common stock to the Company’s defined contribution plan in 2004 and 2005 |       | 14,561                 |       | 29,748               |       | 18,499 |   | 37,720 |   |
|                                                                                                                   |       |                   |       |                 |       |   |   |   |   |
| Issuance of 4,288 shares of common stock  upon exercise of options in 2004                                             |       | 981                    |       | —               |       | 2,859 |   | — |   |
|                                                                                                                   |       |                   |       |                 |       |   |   |   |   |
| Issuance of 25,898 shares of common stock  under the 2004 equity incentive plan                                        |       | —                 |       | 7,395                |       | — |   | 3,718 |   |
|                                                                                                                   |       |                   |       |                 |       |   |   |   |   |
| Issuance of 7,990 and 12,502 shares of  common stock to the employee stock purchase plan in 2004 and 2005              |       | —                 |       |                 |       | 7,288 |   | 10,568 |   |
|                                                                                                                   |       |                   |       |                 |       |   |   |   |   |
| Weighted average shares of common stock  outstanding                                                                   |       | 19,863,843             |       | 19,997,889           |       | 19,853,917 |   | 19,976,706 |   |
|                                                                                                                   |       |                   |       |                 |       |   |   |   |   |
| Loss from continuing operations                                                                                        |       | $                      | (9,695,354 | )                    | $          | (36,153,513 | ) | $ | (30,976,760 | ) | $ | (66,712,207 | ) |
| Income (loss) from discontinued operations,  net of taxes                                                              |       | 130,993                |       | (822                 | )          | 110,376 |   | 11,206,804 |   |
| Net loss                                                                                                               |       | $                      | (9,564,361 | )                    | $          | (36,154,335 | ) | $ | (30,866,384 | ) | $ | (55,505,403 | ) |
|                                                                                                                   |       |                   |       |                 |       |   |   |   |   |
| Basic loss per common share:                                                                                           |       |                   |       |                 |       |   |   |   |   |
| Loss from continuing operations                                                                                        |       | $                      | (0.49      | )                    | $          | (1.81 | ) | $ | (1.56 | ) | $ | (3.34 | ) |
| Income from discontinued operations, net                                                                               |       | 0.01                   |       | —               |       | 0.01 |   | 0.56 |   |
| Net loss per common share                                                                                              |       | $                      | (0.48      | )                    | $          | (1.81 | ) | $ | (1.55 | ) | $ | (2.78 | ) |

 

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