Granite Broadcasting files for bankruptcy
Cory Bergman December 12th, 2006
Granite has filed for Chapter 11 as it struggles to make interests payments on its $400 million of debt. The station group tried to sell its Detroit and San Francisco stations last summer to pay off debt, but the deal came apart after the creation of The CW network. “Under the reorganization process Granite will continue to operate its businesses in the ordinary course, and its stations will continue to serve their local communities, including their viewers and advertisers,” the company said in a statement. Granite owns or operates 23 stations in 11 markets.
5 Comments Add your own
1. thebkchannel | December 12th, 2006 at 6:18 pm
Granite may be the most incompetent group owner in the history of television. Just search ‘Granite Broadcasting’ in the B&C archives for example after example of stupefyingly boneheaded decisions. Chapter 11 is too good for these fools - they should have had to liquidate!
2. Hussman | December 13th, 2006 at 6:41 am
As a former Granite employee, it’s sad to see this happen, because these are people I know and worked with. Hopefully these problems will be worked out, and they can get their collective crap together.
I’m not going to get into “Granite Bashing” but there are clearly problems that aren’t being addressed, and internal issues that need to be taken care of.
3. Juan Bodley | December 13th, 2006 at 6:23 pm
In the Fort Wayne arrangement with Malara (WPTA/WISE) Granite has dragged both those stations into the ground with poor programming and duplicated news shows. If there’s available air time it’s for paid ads (I’ve seen David Oreck one too many times) and technical errors galore.
If they’re (as I speculate they are) trying to de-value these stations for a fire sale they’re doing a DAMN good job of it!!
4. richard | October 7th, 2007 at 3:28 am
and these mofo’s messed up my local nbc affialate ksee 24-the put the highest ranking(ratings)anchor took his position away and made him a reporter yet they still kept the ass kisser rich rodrigues-mediocre but “good for the latin market”-because he has a fat 5 yr contract-ksee 24 really messed up ,and i am going to boycott their advertisers-email rick bentley at the fresno bee.my ad dollar is not going to ksee or these mother fr’s at granite
5. lucy | January 19th, 2008 at 5:00 am
Wow, thanks for the excellent information!
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