Federal Communications Commission Approves Television Station Transactions in Fort Wayne, IN and Duluth, MN

Federal Communications Commission Approves Television Station Transactions in Fort Wayne, IN and Duluth, MN

- Television Stations Will Operate Under Shared Services Agreement -

NEW YORK, March 8 /PRNewswire-FirstCall/ -- Granite Broadcasting Corporation (BULLETIN BOARD: GBTVK) has announced the completion of its purchase of NBC affiliate WISE-TV (Fort Wayne, IN) from New Vision Television. In a related transaction, the FCC has approved the completion of the sale of ABC affiliate WPTA-TV (Fort Wayne, IN) and CBS affiliate KDLH-TV (Duluth, MN) to Malara Broadcast Group. Previously, WPTA-TV was owned by Granite and KDLH-TV was owned by New Vision Television. Granite currently owns KBJR-TV (NBC) in Duluth, MN. The FCC has also approved Granite's agreement to provide certain functions for both stations under a shared services agreement (SSA) with Malara.

In making this announcement, Granite Broadcasting Corporation's Chief Executive Officer, W. Don Cornwell, said, "This arrangement is an important step in the implementation of Granite's strategic vision to capitalize on our core strength of operating leading local stations in the nation's mid-size markets. This strategy provides opportunities for substantial operating efficiencies by allowing Granite to use its existing infrastructure to expand the breadth of local news and services provided to the viewers of Fort Wayne and Duluth, while enhancing the revenue and profitability of the stations."

Malara Broadcasting Group's Chief Executive Officer, Anthony Malara, stated, "We are delighted to be working with a forward-thinking company like Granite. Together, our companies and stations will focus our combined resources on making these great stations more efficient, becoming even better community citizens and at the same time providing measurable benefit for our viewers."

Under the terms of the SSA agreement, Granite will operate WISE-TV (Fort Wayne) and KBJR-TV (Duluth) and provide advertising sales, promotion, administrative services, and selected programming to WPTA-TV (Fort Wayne) and KDLH-TV (Duluth).

Granite Broadcasting Corporation (BULLETIN BOARD: GBTVK) operates in geographically diverse markets reaching over 6.0% of the nation's television households. The Company's station portfolio consists of four NBC affiliates, one ABC affiliate, one CBS affiliate and two major market WB affiliates. The NBC affiliates are KSEE-TV, Fresno-Visalia, California, WEEK-TV, Peoria-Bloomington, Illinois, WISE-TV, Fort Wayne, Indiana and KBJR-TV, Duluth, Minnesota and Superior, Wisconsin. The ABC affiliate is WKBW-TV, Buffalo, New York, The CBS affiliate is WTVH-TV, Syracuse, New York. The WB affiliates are KBWB-TV, San Francisco-Oakland-San Jose, California, and WDWB-TV, Detroit, Michigan.

Malara Broadcast Group owns two television stations: CBS affiliate KDLH-TV in Duluth, Minnesota and Superior, Wisconsin and ABC affiliate WPTA-TV in Fort Wayne, Indiana.

Source: Granite Broadcasting Corporation

CONTACT: W. Don Cornwell for Granite Broadcasting Corporation, +1-212-826-2530

Web site: http://www.granitetv.com/

------- Profile: Ent