Granite Files Amended Reorganization Plan

Law360, New York (March 5, 2007, 12:00 AM EST) -- Bankrupt media company Granite Broadcasting Corp. has filed its first amended joint plan of reorganization and its related disclosure statement, which provide a valuation for the company of more than $500 million.

The plan was filed on March 2 by Akin, Gump, Strauss, Hauer & Feld LLP, which is representing Granite in its Chapter 11 case. The court approved the disclosure statement and scheduled a hearing to consider confirming the plan for April 16.

The disclosure statement included a valuation range of between $463 and $523...
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