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GRANITE BROADCASTING CORPORATION ANNOUNCES COMPLETION OF EXCHANGE OFFER

 NEW YORK, Jan. 5 /PRNewswire/ -- Granite Broadcasting Corporation (NASDAQ: GBTVK) announced today the completion of its offer to exchange its publicly registered 12.75 percent senior subordinated debentures due Sept. 1, 2002, for any or all of the outstanding $60 million principal amount of its 12.75 percent Rule 144A senior subordinated debentures due Sept. 1, 2002. The company indicated that all of its Rule 144A senior subordinated debentures have been tendered for exchange and accepted by the company.
 -0- 1/5/93
 /CONTACT: Lawrence Wills, vice president-finance of Granite Broadcasting Corporation, 212-826-2530/
 (GBTVK)


CO: Granite Broadcasting Corporation ST: New York IN: ENT SU:

CK -- NY053 -- 1732 01/05/93 12:31 EST
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Publication:PR Newswire
Date:Jan 5, 1993
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