United States Bankruptcy Court, S.D. New York May 18, 2007, 19-22312 (In Re Granite Broadcasting Corp.)

MEMORANDUM OF OPINION

ALLAN L. GROPPER, Bankruptcy Judge.

Introduction

Granite Broadcasting Corporation and five of its wholly-owned subsidiaries (collectively, the “Debtors”) filed for bankruptcy protection under chapter 11 of the Bankruptcy Code on December 11, 2006 (the “Petition Date”).