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IN RE GRANT BROADCASTING OF PHILADELPHIA, INC.

Bankruptcy No. 86-05614S.

71 B.R. 376 (1987)

In re GRANT BROADCASTING OF PHILADELPHIA, INC. (Jointly administered with Grant Broadcasting System, Inc., Channel 33, Inc., Grant Broadcasting of Chicago, Inc., and Grant Broadcasting of Chicago Limited Partnership), Debtors.

United States Bankruptcy Court, E.D. Pennsylvania.

March 2, 1987.

Attorney(s) appearing for the Case

Marc J. Sonnenfeld, Jami Wintz McKeon, Philadelphia, Pa., for debtors.

Nathan B. Feinstein, Lawrence G. McMichael, Philadelphia, Pa., for Secured Noteholders.

Howard Glassman, Leon Forman, Philadelphia, Pa., for Programmers.

Susan L. Thorner, Hughes, Hubbard & Reed, New York City, Doron A. Henkin, Philadelphia, Pa., for Viacom.

Mary Walrath, Philadelphia, Pa., for Creditors' Committee.

OPINION

DAVID A. SCHOLL, Bankruptcy Judge.

A. INTRODUCTION AND PROCEDURAL HISTORY

The instant five (5) jointly administered bankruptcy cases, three (3) of which were filed on December 8, 1986, one of which was filed on December 10, 1986, and the last of which was filed on January 27, 1987, involve the most significant members of the independent television industry, an industry which is experiencing somewhat of a slump after a period of great prosperity...

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