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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
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Granite Broadcasting Corporation
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(Name of Issuer)
Common Stock (Nonvoting)
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(Title of Class of Securities)
387241102
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(CUSIP Number)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP No. 387241102 13G Page 2 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
Wanger Asset Management, L.P. 36-3820584
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES None
-------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 770,200
-------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING None
-------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 770,200
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
770,200
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
Not Applicable [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.35%
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12 TYPE OF REPORTING PERSON*
IA
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 387241102 13G Page 3 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
Wanger Asset Management, Ltd.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES None
-------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 770,200
-------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING None
-------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 770,200
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
770,200
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
Not Applicable [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.35%
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12 TYPE OF REPORTING PERSON*
CO
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 387241102 13G Page 4 of 8 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
Acorn Investment Trust
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Massachusetts
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NUMBER OF 5 SOLE VOTING POWER
SHARES None
-------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 567,000
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EACH 7 SOLE DISPOSITIVE POWER
REPORTING None
-------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 567,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
567,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
Not Applicable [ ]
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.41%
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12 TYPE OF REPORTING PERSON*
IV
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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Item 1(a) Name of Issuer:
Granite Broadcasting Corporation
Item 1(b) Address of Issuer's Principal Executive Offices:
767 Third Avenue
34th Floor
New York, New York 10017
Item 2(a) Name of Person Filing:
Wanger Asset Management, L.P. ("WAM")
Wanger Asset Management Ltd., the general
partner of WAM ("WAM LTD.")
Acorn Investment Trust ("Acorn")
Item 2(b) Address of Principal Business Office:
WAM, WAM LTD. and Acorn are all located at:
227 West Monroe Street, Suite 3000
Chicago, Illinois 60606
Item 2(c) Citizenship:
WAM is a Delaware limited partnership.
WAM LTD. is a Delaware corporation.
Acorn is a Massachusetts business trust.
Item 2(d) Title of Class of Securities:
Common Stock (Nonvoting), par value $.01 per share
Item 2(e) CUSIP Number:
387241102
Item 3 Type of Person:
(d) Acorn is an investment company registered under
section 8 of the Investment Company Act of 1940.
(e) WAM is an Investment Adviser registered under section
203 of the Investment Advisers Act of 1940; WAM LTD. is
the General Partner of the Investment Adviser.
Page 5 of 8 pages
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Item 4 Ownership (at December 31, 1998):
--
(a) Amount owned "beneficially" within the meaning of
rule 13d-3:
770,200 shares
(b) Percent of class:
7.35%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct
the vote: none
(ii) shared power to vote or to direct
the vote: 770,200
(iii) sole power to dispose or to direct
the disposition of: none
(iv) shared power to dispose or to
direct disposition of: 770,200
Item 5 Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6 Ownership of More than Five Percent on Behalf of Another Person:
The shares reported herein have been acquired on behalf
of discretionary clients of WAM, including Acorn. Persons
other than WAM and WAM LTD. are entitled to receive all
dividends from, and proceeds from the sale of, those
shares. Acorn is the only such person known to be
entitled to receive all dividends from, and all proceeds
from the sale of, shares reported herein to the extent of
more than 5% of the class.
Item 7 Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company:
Not Applicable
Item 8 Identification and Classification of Members of the Group:
Not Applicable
Item 9 Notice of Dissolution of Group:
Not Applicable
Page 6 of 8 pages
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Item 10 Certification:
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were
acquired in the ordinary course of business and were not acquired
for the purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any
transaction having such purpose or effect.
Page 7 of 8 pages
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Signature
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After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: February 23, 1999
The undersigned corporation, on the date above
written, agrees and consents to the joint filing on
its behalf of this Schedule 13G in connection with
its beneficial ownership of the security reported
herein.
WANGER ASSET MANAGEMENT, LTD.
for itself and as general partner of
WANGER ASSET MANAGEMENT, L.P.
By: /s/ Bruce H. Lauer
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Bruce H. Lauer
Vice President
The undersigned, on the date above written, agrees
and consents to the joint filing on its behalf of
this Schedule 13G in connection with its beneficial
ownership of the security reported herein.
ACORN INVESTMENT TRUST
By: /s/ Bruce H. Lauer
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Bruce H. Lauer
Vice President and Treasurer
Page 8 of 8 pages
