Granite reports 2Q revenue decline - Broadcasting & Cable

Granite reports 2Q revenue decline

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Granite Broadcasting Corp. reported a 13% revenue decline for the second quarter to
$28.5 million, while the company’s year-to-year operating loss widened 8% to
$1.3 million.

The revenue decline was due in part to the disposition last year of KNTV(TV)
San Francisco. Same-station revenues were up 5%, the company said.

Granite CEO Don Cornwell said third-quarter revenue will be down between 2.5%-6.5% due to the lack of political dollars, which gave the company a 14%
revenue boost last year in the quarter.

Excluding political, third-quarter revenue should come in at between flat and
up 4%, Cornwell said.

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