Granite Broadcasting

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Template:Short description Template:Use mdy dates Script error: No such module "Unsubst". Script error: No such module "Infobox".Template:Template otherTemplate:Main otherScript error: No such module "Check for clobbered parameters".Script error: No such module "Check for unknown parameters". Granite Broadcasting LLC is a broadcasting holding company in New York City which owns one television station in the United States, in Syracuse, New York. Granite was founded by W. Don Cornwell and Stuart Beck in 1988,[1] and was the first African-American station group in the United States considered to be a "major" station operator (though not the first minority-owned chain, a distinction held by the now-defunct Aleut-owned Cook Inlet Broadcasting).Script error: No such module "Unsubst".

Granite's chairman/CEO is Peter Markham, with Duane Lammers as COO.[2]

History

W. Don Cornwell left Goldman Sachs' investment banking department in 1988. He co-founded Granite Broadcasting Corporation with Stuart Beck on February 8, 1988.[3][4] In 1993, it purchased two stations from Meredith Corporation, which included WTVH in Syracuse and KSEE in Fresno for $38 million.[5]

In 1997, Granite purchased TV station KOFY-TV for $143.8 million, becoming their largest purchase ever.[6] Cornwell was CEO and chairman of Granite until stepping down in 2009.[4] During his time with the company, Granite expanded to 23-channels and 11 markets.[1] In April 2006, Granite bought out WBNG-TV in Binghamton from SJL Broadcasting, which was in the process of liquidating its broadcasting holdings, which paid $45 million to cost.[7]

Granite declared Chapter 11 (reorganization) bankruptcy[8] on December 11, 2006, mainly due to the complications of the 2006 United States broadcast TV realignment which nullified the sales of the group's Detroit and San Francisco The WB affiliates due to those stations being left out of The CW because of CBS Corporation-owned stations in both cities taking the affiliation by default.[9] It emerged from bankruptcy in June 2007 under the control of private equity firm Silver Point Capital (which also took over ComCorp later that year).

In 2011, it filed a lawsuit against Nexstar Broadcasting Group for having the Fox affiliation to appear on WPTA's digital subchannel after dropping it from WFFT. The suit was settled in 2013, and WFFT reclaimed the Fox affiliation.[10]

In February 2014, Granite reached deals to sell the majority of its stations. WKBW-TV in Buffalo, New York and WMYD in Detroit were sold to the E. W. Scripps Company[11] for $110 million (the latter forming a duopoly with Scripps-owned ABC affiliate WXYZ-TV). Most of its remaining stations (mostly in small markets), along with the Malara Broadcast Group's two stations, went to Quincy Newspapers and SagamoreHill Broadcasting (which originally planned to operate the LMA-controlled stations Granite currently provides services to for Quincy).[12][13] SagamoreHill was subsequently dropped from the Quincy transaction.[14]

In July 2015, the deal was reworked yet again to have SagamoreHill acquire WISE, the SSA between WISE and WPTA (owned by Quincy) wound down within nine months of its closure, and have all of WISE's network affiliations moved to WPTA in exchange for its The CW Plus affiliation.[15] On September 15, 2015, the FCC approved the deal,[16] which was completed on November 2.[17]

Station list

Current

Media market Station Channel Owned since Current affiliation
Syracuse, NY WTVH 5 1993Template:Efn-lr CBS

Former

Stations formerly owned by Granite Broadcasting
Media market State Station Purchased Sold Notes
Fresno California KSEE 1993 2013
San Francisco–San Jose KNTV 1990 2002
KOFY-TV 1998 2018 Template:Efn
Peoria Illinois WEEK-TV 1988 2015
WHOI 2009 2015 Template:Efn
WAOE 1999 2014 Template:Efn
Fort Wayne Indiana WPTA 1989 2005 Template:Efn
WISE-TV 2005 2015
Detroit Michigan WMYD 1997 2014 Template:Efn
Kalamazoo WWMT 1995 1998
Lansing WLAJ 1996 1998
Chisholm Minnesota KRII 2002 2015 Template:Efn-ua
Duluth KBJR-TV 1988 2015
KDLH 2005 2015 Template:Efn
Binghamton New York WBNG-TV 2006 2015
Buffalo WKBW-TV 1995 2014
Austin Texas KEYE-TV 1994 1999 Template:Efn

Template:Notelist Template:Notelist-ua

Notes

Template:Notelist-lr

References

Template:Reflist

External links

Template:Gray TV

  1. ↑ a b Cornwell And Deushane Stepping Down At Granite Broadcasting, Broadcasting & Cable, August 11, 2009, Retrieved October 19, 2018
  2. ↑ Script error: No such module "citation/CS1".
  3. ↑ Script error: No such module "citation/CS1".
  4. ↑ a b Script error: No such module "citation/CS1".
  5. ↑ Script error: No such module "citation/CS1".
  6. ↑ Script error: No such module "citation/CS1".
  7. ↑ Script error: No such module "citation/CS1".
  8. ↑ Script error: No such module "citation/CS1".
  9. ↑ Script error: No such module "citation/CS1".
  10. ↑ Script error: No such module "citation/CS1".
  11. ↑ Script error: No such module "citation/CS1".
  12. ↑ Scripps Buying Granite TVs in Buffalo, Detroit, TVNewsCheck, Retrieved February 10, 2014
  13. ↑ Script error: No such module "citation/CS1".
  14. ↑ Script error: No such module "citation/CS1".
  15. ↑ Script error: No such module "citation/CS1".
  16. ↑ Letter CDBS Public Access, Federal Communications Commission, Retrieved September 15, 2015
  17. ↑ Script error: No such module "citation/CS1".
Retrieved from "http://debianws.lexgopc.com/wiki143/index.php?title=Granite_Broadcasting&oldid=1255994"