-----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, KRtv4XqUwyRHZsukNzdp+vnQiCuGobJw7q0i0DZiZW/JWajQxNDa8/toAcWx7ol+ Sausg4MTYb0F5gWxi/bxuQ== 0000950146-98-000616.txt : 19980415 0000950146-98-000616.hdr.sgml : 19980415 ACCESSION NUMBER: 0000950146-98-000616 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980414 SROS: NONE 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 SEC ACT: SEC FILE NUMBER: 005-48687 FILM NUMBER: 98593654 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 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 1 SCHEDULE 13-D 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. 1)(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 Sandler Capital Management Morrison Cohen Singer & Weinstein, LLP 767 Fifth Avenue, 45th Floor 750 Lexington Avenue New York, New York 10153 New York, New York 10022 Telephone (212) 754-8100 Telephone (212) 735-8600 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 31, 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 12 - 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 215,000 shares 2.4% ----------------------------------------------------------------- Number of 8 Shared Voting Power Shares 0 shares 0% Beneficially ----------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 215,000 shares 2.4% Reporting ----------------------------------------------------------------- Person 10 Shared Dispositive Power With 0 shares 0% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 215,000 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 2.4% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* PN ================================================================================ - 2 of 12 - 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 0 shares 0% ----------------------------------------------------------------- Number of 8 Shared Voting Power Shares 321,000 shares 3.6% Beneficially ----------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 0 shares 0% Reporting ----------------------------------------------------------------- Person 10 Shared Dispositive Power With 321,000 shares 3.6% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 321,000 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 3.6% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* PN ================================================================================ 3 of 12 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 0 shares 0% ----------------------------------------------------------------- Number of 8 Shared Voting Power Shares 536,000 shares 6.1% Beneficially ----------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 0 shares 0% Reporting ----------------------------------------------------------------- Person 10 Shared Dispositive Power With 536,000 shares 6.1% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 536,000 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 6.1% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN ================================================================================ 4 of 12 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 0 shares 0% ----------------------------------------------------------------- Number of 8 Shared Voting Power Shares 606,000 shares 6.9% Beneficially ----------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 0 shares 0% Reporting ----------------------------------------------------------------- Person 10 Shared Dispositive Power With 606,000 shares 6.9% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 606,000 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 6.9% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN ================================================================================ 5 of 12 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 0 shares 0% ----------------------------------------------------------------- Number of 8 Shared Voting Power Shares 536,000 shares 6.1% Beneficially ----------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 0 shares 0% Reporting ----------------------------------------------------------------- Person 10 Shared Dispositive Power With 536,000 shares 6.1% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 536,000 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 6.1% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN ================================================================================ - 6 of 12 - 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 0 shares 0% ----------------------------------------------------------------- Number of 8 Shared Voting Power Shares 536,000 shares 6.1% Beneficially ----------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 0 shares 0% Reporting ----------------------------------------------------------------- Person 10 Shared Dispositive Power With 536,000 shares 6.1% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 536,000 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 6.1% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* IN ================================================================================ - 7 of 12 - 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 70,000 shares 0.8% ----------------------------------------------------------------- Number of 8 Shared Voting Power Shares 0 shares 0% Beneficially ----------------------------------------------------------------- Owned By 9 Sole Dispositive Power Each 70,000 shares 0.8% Reporting ----------------------------------------------------------------- Person 10 Shared Dispositive Power With 0 shares 0% - -------------------------------------------------------------------------------- 11 Aggregate Amount Beneficially Owned By Each Reporting Person 70,000 shares - -------------------------------------------------------------------------------- 12 Check Box if the Aggregate Amount in Row (11) excludes Certain Shares* [ ] - -------------------------------------------------------------------------------- 13 Percent of Class Represented by Amount in Row (11) 0.8% - -------------------------------------------------------------------------------- 14 Type of Reporting Person* PN ================================================================================ - 8 of 12 - This statement, dated March 31, 1998, constitutes Amendment No. 1 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. 1 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 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 Sandler Associates, and the general working capital of J.K. Media. 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 21,000 $244,315 Sandler Associates 60,000 $697,190 J.K. Media 20,000 $232,345 ITEM 5. Interests in Securities of the Issuer. (a) The following list sets forth the aggregate number and percentage (based on 8,845,657 shares of Common Stock outstanding as reported by the Issuer to the reporting persons as of February 12, 1998) of outstanding shares of Common Stock owned beneficially by each reporting person named in Item 2, as of March 31, 1998: - 9 of 12 -
Shares of Percentage of Shares Common Stock of Common Stock Name Beneficially Owned Beneficially Owned - ---- ------------------ ------------------ Sandler Capital Management 321,000(1) 3.6% Sandler Associates 215,000(2) 2.4% Michael J. Marocco 536,000(1),(2),(3) 6.1% John Kornreich 606,000(1),(2),(3),(4) 6.9% Harvey Sandler 536,000(1),(2),(3) 6.1% Andrew Sandler 536,000(1),(2),(3) 6.1% J.K. Media 70,000(4) .8%
(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 321,000 shares of Common Stock, representing approximately 3.6% of the outstanding Common Stock. By virtue of being the sole shareholder of MJ DM Corp. and a general partner of Sandler Associates, Michael J. Marocco may be deemed to have shared power to vote and to dispose of 536,000 shares of Common Stock, representing approximately 6.1% 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 and to dispose of 606,000 shares of Common Stock, representing approximately 6.9% of the outstanding Common Stock. By virtue of being the sole shareholder of ARH Corp. and a general partner of Sandler Associates, Harvey Sandler may be deemed to have shared power to vote and to dispose of 536,000 shares of Common Stock, representing approximately 6.1% of the outstanding Common Stock. By virtue of being a majority member of ALSI, LLC and a general partner of Sandler Associates, Andrew Sandler may be deemed to have shared power to vote and to dispose of 536,000 shares of Common Stock, representing approximately 6.1% of the outstanding Common Stock. - -------- 1 Includes 321,000 shares of Common Stock held in accounts managed by SCM. 2 Includes 215,000 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 70,000 shares of Common Stock owned by J.K. Media. - 10 of 12 - (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 February 13, 1998 through March 31, 1998, inclusive: Number of Shares Purchase or of Common Stock Purchase or Name of Shareholder Sale Date Purchased or (Sold) Sale Price - ------------------- --------- ------------------- ---------- Sandler Associates 3/13/98 40,000 $11.625 3/31/98 20,000 $11.6095 Accounts Managed by Sandler Capital Management 3/5/98 1,000 $12.125 3/31/98 20,000 $11.6095 J.K. Media 3/13/98 10,000 $11.625 3/31/98 10,000 $11.6095 All purchases 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. - 11 of 12 - 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: April 9, 1998 SANDLER ASSOCIATES By: /s/ Michael J. Marocco --------------------------------- Name: Michael J. Marocco Title: General Partner /s/ Michael J. Morocco -------------------------------- Michael J. Marocco /s/ John Kornreich --------------------------------- John Kornreich /s/ Harvey Sandler --------------------------------- Harvey Sandler /s/ Andrew Sandler --------------------------------- Andrew Sandler SANDLER CAPITAL MANAGEMENT By: ARH Corp. By: /s/ Edward Grinacoff ---------------------------- Name: Edward Grinacoff Title: Secretary and Treasurer J.K. MEDIA, L.P. By: /s/ 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). - 12 of 12 - -----END PRIVACY-ENHANCED MESSAGE-----