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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 5, 1998 (April 30, 1998)
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GRANITE BROADCASTING CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-19728 13-3458782
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
767 Third Avenue, 34th Floor
New York, New York 10017
(212) 826-2530
(Address, including zip code, and telephone number, including area code of
registrant's principal executive offices)
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Item 1. Changes in Control of Registrant
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Not Applicable
Item 2. Acquisition of Assets
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Not Applicable
Item 3. Bankruptcy or Receivership
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Not Applicable
Item 4. Changes in Registrant's Certifying Accountants
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Not Applicable
Item 5. Other Events
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On April 30, 1998, Granite Broadcasting Corporation ("Granite")
announced that it intends to commence a private offering of $150 million of a
new issue of Senior Subordinated Notes due 2008. The proceeds of the offering
will be used to repay outstanding borrowings under the Company's credit facility
and for general working capital purposes. A copy of the press release issued by
Granite on April 30, 1998 is attached hereto as Exhibit 99.1 and is hereby
incorporated by reference herein.
Item 6. Resignation of Registrant's Directors
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Not Applicable
Item 7. Financial Statements and Exhibits
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C. Exhibits.
99.1 Press Release, dated April 30, 1998.
Item 8. Change in Financial Year
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Not Applicable
Item 9. Sales of Equity Securities Pursuant to Regulation S
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Not Applicable
2
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GRANITE BROADCASTING CORPORATION
Dated: May 5, 1998 By: /s/ Ellen McClain
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Name: Ellen McClain
Its: Vice President - Corporate Development
and Treasurer
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EXHIBIT INDEX
99.1 Press Release, dated April 30, 1998.
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[LETTERHEAD]
FROM: GRANITE BROADCASTING CORPORATION
Contact: Ellen McClain
Telephone: 212/826-2530
FOR IMMEDIATE RELEASE
Thursday, April 30, 1998
GRANITE BROADCASTING CORPORATION ANNOUNCES
PROPOSED OFFERING OF UNREGISTERED SENIOR
SUBORDINATED NOTES
New York, April 30, 1998 - Granite Broadcasting Corporation
(GBTVK/GBTVP: NASDAQ) announced that it proposes to make an offering of $150
million of a new issue of Senior Subordinated Notes due 2008. The offering
will not be registered under the Securities Act of 1933, as amended (the
"Act") and will be made only to qualified institutional buyers and certain
persons outside of the United States. The proceeds of the offering will be
used to repay outstanding borrowings under the Company's credit facility and
for general working capital purposes.
The Notes have not been registered under the Act and may not be offered,
sold, pledged or otherwise transferred in the United States absent
registration under the Act or pursuant to an exemption available thereunder.
