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Granite Broadcasting Corporation is an African American-owned broadcasting holding company which owns or operates (via local marketing agreements) 14 television stations in the United States, largely centered in the midwest with a cluster in New York state. The company was founded in 1988 and was the first African American-owned chain to be considered a "major" group to exist in the United States (though not the first minority-owned chain, a distinction held by the Aleut-owned Cook Inlet Broadcasting).

The company is based in New York City, lead by W. Don Cornwell.

Granite declared Chapter 11 (reorganization) bankruptcy on December 11, 2006.^[1] It emerged from bankruptcy in June of 2007, under the control of Silver Point Capital (which took the company private).

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1. ^a  On May 2, 2006, Television Week magazine, an industry trade publication, reported that Granite will be selling WDWB (which became WMYD 13 days later) and KBWB to DS Audible, LLC, a holding company owned by and/or affiliated with Canyon Capital Advisors, D.B. Zwirn & Co., Fortress Investment Group and Ramius Capital Group, among others. Part of the payment will be used towards closing the deal for Granite's purchase of WBNG-TV, with the remainder being used towards meeting their June interest payment. However, on July 18, 2006, Granite canceled the sale after DS Audible failed to close on the stations by June 30. ^[2] In July Granite secured a $70m bridge loan which matures at the end of the year and which provides it the liquidity to meet its June interest obligation, the purchase price of WBNG-TV, and some working capital. The bridge loan required Granite to submit a restructuring plan by the end of August.^{[update needed]}

1. ^ Granite Broadcasting Corporation (2006-12-11). Granite Broadcasting Voluntarily Files Petition for Reorganization. Press release. Retrieved on 2006-12-12.
2. ^ Granite Broadcasting Corporation (2006-07-18). Granite Broadcasting Corporation Announces Termination of Sale Agreements for Detroit and San Francisco Television Stations. Press release. Retrieved on 2006-12-12.

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• Company Profile @ Forbes