EXHIBIT 10.41
American Broadcasting Companies, Inc. [LOGO]
July 26, 1999
Granite Broadcasting
Attn: X. Xxx Xxxxxxxx
000 Xxxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, XX 00000
Dear Xx. Xxxxxxxx:
This will constitute an Amendment to the Primary Television Affiliation
Agreement between American Broadcasting Companies, Inc. ("ABC" or "we") and KNTV
License, Inc. ("KNTV") or "you") dated January 3, 1996 (the "Agreement").
You and we agree that the Agreement shall terminate effective midnight
at the end of the day July 2, 2000 on the following terms:
1. We agree to pay you, in addition to all other compensation due
to you pursuant to the Agreement, the total sum of $14 million
within ten (10) days of execution of the Amendment. It is agreed
that the Amendment will be executed no later than September 1,
1999.
2. Each party shall continue to enjoy its respective rights under
the Agreement and to be subject to its respective obligations
under the Agreement until the time of termination herein
provided.
3. Neither party shall have any continuing obligation under the
Agreement subsequent to the time of termination, provided that
ABC shall be obligated to pay you any compensation owing to you
pursuant to Schedule A for broadcasting network sponsored
programs prior to termination, and further provided that the
reciprocal indemnification obligations set forth in paragraph
VI.S. of the Agreement shall continue with respect to materials
broadcast prior to termination.
4. You and we agree to keep confidential the existence and terms of
this Amendment until a mutually agreeable date which shall be on
or about September 1, 1999. It is contemplated that the
termination of KNTV's ABC network affiliation will be announced
at that time by means of a joint press release or announcement
or separate press releases or announcements approved by both
parties.
Granite Broadcasting -2- July 26, 1999
5. You and we agree to cooperate to insure an orderly transition in the shift
of ABC network service from KNTV to ABC's new affiliate in the market.
If the foregoing is in accordance with your understanding, please indicate
your consent by signing the space provided below.
Sincerely yours,
American Broadcasting Companies, Inc.
By:____________________________
Title:___________________________
Accepted and Agreed to by:
KNTV License, Inc.
By:__________________________
Title:_________________________
