WBNG

AcronymDefinition
WBNGWashington-Baltimore Newspaper Guild (Washington, DC)
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25 /PRNewswire-FirstCall/ -- Granite Broadcasting Corporation (BULLETIN BOARD: GBTVK) announced today that its three Upstate New York stations, ABC-affiliate WKBW-TV serving Buffalo, New York; CBS- affiliate WTVH-TV serving Syracuse, Utica and Rome, New York; and CBS-affiliate WBNG serving Binghamton and Elmira, New York will host and provide live carriage of the New York Gubernatorial debate on Monday, August 28th at 8:00 p.
Vann went on to say, "Both WBNG and WTVH have long been dedicated to the communities they serve with strong and vital news operations.
In making these announcements, John Deushane, Chief Operating Officer for Granite Broadcasting Corporation, said, "I am very proud of the progress made at WTVH over the last several years and we are particularly pleased to have WBNG as part of the growing group of Granite stations.
We would like to welcome WBNG to the Granite family, and look forward to leveraging our platform in upstate New York to benefit both our viewers and advertisers, and strengthen our operating performance.
Our adjusted full year guidance, which now includes WMYD in Detroit as of January 1, 2006 and WBNG in Binghamton as of July 26, 2006, is as follows; we expect to report low double-digit net revenue growth driven by our excellent local sales efforts, political advertising and the inclusion of WBNG for the last six months of the year.
WTAJ and WBNG are both top ranked television stations in their respective markets and have been excellent investments for Boston Ventures and Alta," said Andy Davis, Boston Ventures Managing Director.
Don Cornwell, Chief Executive Officer of Granite Broadcasting Corporation, said, "This acquisition of WBNG is a terrific fit with our stated strategy of capitalizing on our core strength of operating news-oriented, network-affiliated stations.
About SJL Northeast, LLC - SJL Northeast LLC currently owns and operates two CBS affiliated television stations: WBNG - Channel 12 in Binghamton, New York; and WTAJ-Channel 10, Johnstown-Altoona, Pennsylvania.
The Company will draw upon its new senior credit facility, announced July 5, 2006, to fund the acquisition of WBNG.
Subject to satisfaction of certain conditions, the Facility will permit proceeds from the Tranche A Loan to be drawn and used, if necessary, to fund the WBNG acquisition if the sales of the San Francisco and Detroit stations have not previously closed.
Subject to satisfaction of certain conditions, the Facility will permit proceeds from Tranche Loan A to be drawn and used, if necessary, to fund the WBNG acquisition if the sales of the San Francisco and Detroit stations have not previously closed.
13 /PRNewswire-FirstCall/ -- Granite Broadcasting Corporation (BULLETIN BOARD: GBTVK) announced today that it has entered into a definitive agreement to acquire the assets of WBNG, Channel 12, the CBS-affiliated television station serving Binghamton and Elmira, New York, for $45 million in cash, before closing adjustments.