| Business Summary | | Granite
Broadcasting
Corporation,
founded
in
1988,
is
a
group
broadcasting
company
that
acquires
and
manages
network-affiliated
television
stations
and
other
media
and
communications-related
properties.
The
Company's
goal
is
to
identify
and
acquire
properties
that
have
the
potential
for
substantial
long-term
appreciation
and
to
aggressively
manage
such
properties
to
improve
their
operating
results.
The
Company
currently
owns
and
operates
eight
network-affiliated
television
stations
and
one
independent
station,
comprised
of
WTVH-TV,
KSEE-TV,
WPTA-TV,
WEEK-TV,
KBJR-TV,
WKBW-TV,
WDWB-TV,
KBWB-TV
and
KNTV. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Granite
Broadcasting
Corp.
is
engaged
in
the
acquisition
and
management
of
network-affiliated
television
stations
and
other
media
and
communication
related
properties.
For
the
six
months
ended
6/30/01,
revenues
fell
19%
to
$57.4
million.
Net
loss
before
extraordinary
item
applicable
to
Common
rose
54%
to
$41.8
million.
Revenues
reflect
a
weak
advertising
climate
and
a
reduction
in
political
related
advertising.
Higher
loss
also
reflects
increased
news
expenses
at
the
KNTV
station. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| W. Don Cornwell, 53 Chairman
and CEO | $1.1M | Stuart Beck, 54 Pres,
Sec. | 951K | Ellen McClain, 36 CFO,
Sr. VP | 277K | Robert Selwyn, Jr., 57 COO | 437K | Lawrence Wills, 40 CAO,
Sr. VP | 282K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|