-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GE93EwSrjIrSNBD/GWzhQ3vuCPo6MSASpZxF5o7zm3bWK9qMl83LwwlcoXFSxC51 KPhX71r3bHvx1iMEvp6oeA== 0000891554-99-000348.txt : 19990218 0000891554-99-000348.hdr.sgml : 19990218 ACCESSION NUMBER: 0000891554-99-000348 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990217 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GRANITE BROADCASTING CORP CENTRAL INDEX KEY: 0000839621 STANDARD INDUSTRIAL CLASSIFICATION: TELEVISION BROADCASTING STATIONS [4833] IRS NUMBER: 133458782 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-48687 FILM NUMBER: 99543985 BUSINESS ADDRESS: STREET 1: 767 THIRD AVE 34TH FL CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2128262530 MAIL ADDRESS: STREET 1: 767 THIRD AVE 34TH FL CITY: NEW YORK STATE: NY ZIP: 10017 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SANDLER CAPITAL MANAGEMENT CENTRAL INDEX KEY: 0001000742 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 112792496 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 767 FIFTH AVENUE STREET 2: 45TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10153 BUSINESS PHONE: 2127548100 MAIL ADDRESS: STREET 1: 767 FIFTH AVENUE 45TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10153 SC 13D/A 1 AMENDMENT NO. 3 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 S C H E D U L E 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d -1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a). (Amendment No. 3)(1) GRANITE BROADCASTING CORP. (Name of Issuer) COMMON STOCK, $0.01 PAR VALUE (Title of Class of Securities) 387241102 (CUSIP Number) Copy to: Mr. Edward Grinacoff Michael R. Reiner, Esq. Sandler Capital Management Morrison Cohen Singer & 767 Fifth Avenue, 45th Floor Weinstein, LLP New York, New York 10153 750 Lexington Avenue Telephone (212) 754-8100 New York, New York 10022 Telephone (212) 735-8600 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 9, 1998 (Date of Event which Requires Filing this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-(g), check the following box |_|. NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. (Continued on following page(s)) - -------- (1) 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 disclosures provided in a prior cover page. The information required on 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 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). - 1 of 15 - CUSIP No. 387241102 13D ________________________________________________________________________________ 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Sandler Associates ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* WC ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF 260,000 shares 2.5% SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 0 shares 0% OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 260,000 shares 2.5% PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 0 shares 0% ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 260,000 shares ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.5% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* PN ________________________________________________________________________________ - 2 of 15 - CUSIP No. 387241102 13D ________________________________________________________________________________ 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Sandler Capital Management ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* WC, OO ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF 0 shares 0% SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 484,000 shares 4.6% OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 shares 0% PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 484,000 shares 4.6% ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 484,000 shares ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.6% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* PN ________________________________________________________________________________ - 3 of 15 - CUSIP No. 387241102 13D ________________________________________________________________________________ 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Michael J. Marocco ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* WC ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF 0 shares 0% SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 744,000 shares 7.1% OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 shares 0% PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 744,000 shares 7.1% ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 744,000 shares ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.1% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* IN ________________________________________________________________________________ - 4 of 15 - CUSIP No. 387241102 13D ________________________________________________________________________________ 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) John Kornreich ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* WC ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF 0 shares 0% SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 849,000 shares 8.1% OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 shares 0% PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 849,000 shares 8.1% ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 849,000 shares ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.1% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* IN ________________________________________________________________________________ - 5 of 15 - CUSIP No. 387241102 13D ________________________________________________________________________________ 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Harvey Sandler ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* WC ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF 41,000 shares 0.4% SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 745,250 shares 7.1% OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 41,000 shares 0.4% PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 745,250 shares 7.1% ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 786,250 shares ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.5% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* IN ________________________________________________________________________________ - 6 of 15 - CUSIP No. 387241102 13D ________________________________________________________________________________ 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Andrew Sandler ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* WC ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF 0 shares 0% SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 744,000 shares 7.1% OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 0 shares 0% PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 744,000 shares 7.1% ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 744,000 shares ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.1% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* IN ________________________________________________________________________________ - 7 of 15 - CUSIP No. 387241102 13D ________________________________________________________________________________ 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) J.K. Media, L.P. ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* WC ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF 105,000 shares 1.0% SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 0 shares 0% OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 105,000 shares 1.0% PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 0 shares 0% ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 105,000 shares ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.0% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* PN ________________________________________________________________________________ - 8 of 15 - CUSIP No. 387241102 13D ________________________________________________________________________________ 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Phyllis Sandler ________________________________________________________________________________ 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_] (b) [_] ________________________________________________________________________________ 3 SEC USE ONLY ________________________________________________________________________________ 4 SOURCE OF FUNDS* WC ________________________________________________________________________________ 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [_] ________________________________________________________________________________ 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States ________________________________________________________________________________ 7 SOLE VOTING POWER NUMBER OF 1,250 shares 0.01% SHARES _________________________________________________________________ 8 SHARED VOTING POWER BENEFICIALLY 41,000 shares 0.4% OWNED BY _________________________________________________________________ EACH 9 SOLE DISPOSITIVE POWER REPORTING 1,250 shares 0.01% PERSON _________________________________________________________________ 10 SHARED DISPOSITIVE POWER WITH 41,000 shares 0.4% ________________________________________________________________________________ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 42,250 shares ________________________________________________________________________________ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [_] ________________________________________________________________________________ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.4% ________________________________________________________________________________ 14 TYPE OF REPORTING PERSON* IN ________________________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! - 9 of 15 - This statement, dated December 9, 1998, constitutes Amendment No. 3 to the Schedule 13D, dated February 11, 1998, regarding the reporting persons ownership of common stock of Granite Broadcasting Corp. (the "Issuer"). The Schedule 13D is hereinafter referred to as the "Schedule." All capitalized terms used herein and otherwise undefined shall have the meanings ascribed in the Schedule. This Amendment No. 3 to the Schedule is filed in accordance with Rule 13d-2 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") by the reporting persons. It shall refer only to information which has materially changed since the filing of the Schedule. ITEM 2. Identity and Background. (a) Phyllis Sandler is the wife of Harvey Sandler. (b) Address: 17591 Lake Estate Drive Boca Raton, Florida 33496 (c) Principal Occupation: Investments. (d) No. (e) No. (f) Citizenship: United States. ITEM 3. Source and Amount of Funds or Other Consideration. The source of funds for the acquisition of the additional securities was the general working capital of the various managed accounts, the general working capital of J.K. Media and the general working capital of Harvey Sandler, and the source of funds for the acquisition of the securities by Phyllis Sandler was the general working capital of Phyllis Sandler. The amount of funds used in acquiring the additional shares of Common Stock is set forth below: Number of Purchase Shares Price --------- ---------- Accounts Managed by SCM 56,000 $321,373 J.K. Media 31,000 $146,965 Harvey Sandler 41,000 $250,239 Phyllis Sandler 1,250 $ 7,490 ITEM 4. Purpose of Transaction. Other than the reporting persons' purchase or sale of additional securities of the Issuer, no reporting person has any present plan or proposal which would relate to or result in any - 10 of 15 - of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein. ITEM 5. Interests in Securities of the Issuer. (a) The following list sets forth the aggregate number and percentage (based on 10,473,545 shares of Common Stock outstanding as reported by the Issuer in its Form 10-Q for the quarter ended September 30, 1998) of outstanding shares of Common Stock owned beneficially by each reporting person named in Item 2, as of December 9, 1998: Shares of Percentage of Shares Common Stock of Common Stock Name Beneficially Owned Beneficially Owned - ---- ------------------ ------------------ Sandler Capital Management 484,000 (1) 4.6% Sandler Associates 260,000 (2) 2.5% Michael J. Marocco 744,000 (1)(2)(3) 7.1% John Kornreich 849,000 (1)(2)(3)(4) 8.1% Harvey Sandler 786,250 (1)(2)(3)(5)(6) 7.5% Andrew Sandler 744,000 (1)(2)(3) 7.1% J.K. Media 105,000 (4) 1.0% Phyllis Sandler 42,250 (3)(5)(6) 0.4% (b) By virtue of being the manager of certain accounts owning shares of Common Stock with respect to which SCM exercises investment discretion, SCM may be deemed to have shared power to vote and to dispose of 484,000 shares of Common Stock, representing approximately 4.6% of the outstanding Common Stock. Sandler Associates has sole power to vote and to dispose of 260,000 shares of Common Stock, representing approximately 2.5% of the outstanding Common Stock. By virtue of being the sole shareholder of MJDM Corp. and a general partner of Sandler Associates, Michael J. Marocco may be deemed to have shared power to vote and to dispose of 744,000 shares of Common Stock, representing approximately 7.1% of the outstanding Common Stock. By virtue of being the sole shareholder of Four JK Corp. and a general partner of Sandler Associates and J.K. Media, John Kornreich may be deemed to have shared power to vote - -------- (1) Includes 484,000 shares of Common Stock held in accounts managed by SCM. (2) Includes 260,000 shares of Common Stock owned by Sandler Associates. (3) The reporting person disclaims beneficial ownership of these securities, except to the extent of his/her/its equity interest therein. (4) Includes 105,000 shares of Common Stock owned by J.K. Media. (5) Includes 41,000 shares of Common Stock owned by Harvey Sandler. (6) Includes 1,250 shares of Common Stock owned by Phyllis Sandler. - 11 of 15 - and to dispose of 849,000 shares of Common Stock, representing approximately 8.1% of the outstanding Common Stock. By virtue of being the sole shareholder of ARH Corp., a general partner of Sandler Associates and the husband of Phyllis Sandler, Harvey Sandler may be deemed to have shared power to vote and to dispose of 745,250 shares of Common Stock, representing approximately 7.1% of the outstanding Common Stock. Harvey Sandler has sole power to vote and to dispose of 41,000 shares of Common Stock, representing approximately 0.4% of the outstanding Common Stock. By virtue of being the sole shareholder of ALCR Corp. and a general partner of Sandler Associates, Andrew Sandler may be deemed to have shared power to vote and to dispose of 744,000 shares of Common Stock, representing approximately 7.1% of the outstanding Common Stock. J.K. Media has sole power to vote and to dispose of 105,000 shares of Common Stock, representing approximately 1.0% of the outstanding Common Stock. By virtue of being the husband of Harvey Sandler, Phyllis Sandler may be deemed to have shared power to vote and to dispose of 41,000 shares of Common Stock, representing approximately 0.4% of the outstanding Common Stock. Phyllis Sandler has sole power to vote and to dispose of 1,250 shares of Common Stock, representing approximately 0.01% of the outstanding Common Stock. (c) The following is a description of all transactions in the shares of Common Stock by the persons identified in Item 2 of this Schedule 13D effected from October 9, 1998 through December 9, 1998, inclusive: - 12 of 15 -
Name Date Purchased (Sold) No. of Shares Price Per Share - ---- --------------------- ------------- --------------- Sandler Capital Management 10/13/98 5,000 $4.3125 10/20/98 20,000 4.7656 10/29/98 1,000 5.6250 10/29/98 (8,000) 5.2500 11/09/98 30,000 6.6291 J.K. Media 10/20/98 20,000 4.7660 11/23/98 1,000 6.8000 Harvey Sandler 11/05/98 1,000 5.9370 11/06/98 3,000 6.4370 11/23/98 2,000 6.5620 11/24/98 2,000 6.5000 11/30/98 5,000 6.3750 11/30/98 5,000 6.3120 11/30/98 1,000 6.0620 12/01/98 4,000 6.0000 12/01/98 4,000 6.0620 12/02/98 1,000 5.9370 12/03/98 1,000 5.9370 12/08/98 4,000 5.8120 12/09/98 4,000 5.6870 12/09/98 4,000 5.8130 Phyllis Sandler 12/01/98 950 6.0000 12/01/98 300 5.9680
All purchases and sales of Common Stock were effected in open market transactions in the over-the-counter market. (d) No other person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of such securities. (e) Not applicable. ITEM 7. Material to be Filed as Exhibits. Exhibit B - Agreement, effective as of December 9, 1998, among the reporting persons by which they have agreed to file this Schedule 13D and all necessary amendments as required by Rule 13d-1(f). - 13 of 15 - Signature After reasonable inquiry and to the best of their knowledge and belief, each of the undersigned hereby certifies that the information set forth in this Schedule is true, complete, and correct. Date: February 11, 1999 SANDLER ASSOCIATES By: /s/ Michael J. Marocco -------------------------- Name: Michael J. Marocco Title: General Partner /s/ Michael J. Marocco -------------------------- Michael J. Marocco /s/ John Kornreich -------------------------- John Kornreich /s/ Harvey Sandler -------------------------- Harvey Sandler /s/ Andrew Sandler -------------------------- Andrew Sandler /s/ Phyllis Sandler -------------------------- Phyllis Sandler SANDLER CAPITAL MANAGEMENT By: ARH Corp. By: Edward Grinacoff -------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer J.K. MEDIA, L.P. By: John Kornreich -------------------------- Name: John Kornreich Title: General Partner ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001). - 14 of 15 - Exhibit B JOINT FILING AGREEMENT In accordance with Rule 13d-1(f) under the Securities Exchange Act, as amended, the undersigned hereby agree to the joint filing on behalf of each of them on a statement on Schedule 13D (including amendments thereto) with respect to the Common Stock, par value $.01 per share, of Granite Broadcasting Corp. and that this Agreement be included as an Exhibit to such joint filing. IN WITNESS WHEREOF, the undersigned hereby execute this Agreement effective as of the 9th day of December, 1998. SANDLER ASSOCIATES By: /s/ Michael J. Marocco -------------------------- Name: Michael J. Marocco Title: General Partner /s/ Michael J. Marocco -------------------------- Michael J. Marocco /s/ John Kornreich -------------------------- John Kornreich /s/ Harvey Sandler -------------------------- Harvey Sandler /s/ Andrew Sandler -------------------------- Andrew Sandler /s/ Phyllis Sandler -------------------------- Phyllis Sandler SANDLER CAPITAL MANAGEMENT By: ARH Corp. By: Edward Grinacoff -------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer J.K. MEDIA, L.P. By: John Kornreich -------------------------- Name: John Kornreich Title: General Partner - 15 of 15 - -----END PRIVACY-ENHANCED MESSAGE-----