Document:

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                                                                   Exhibit 10.47

As of May 31, 2000

Granite Broadcasting Corporation
767 Third Avenue, 34th Floor
New York, NY 10017
("GRANITE")

The Parties set forth on
   Schedule I hereto
   (collectively, the "PARTIES")

         RE:      KNTV(TV) (San Jose, California)
                  KSEE (Fresno, California)
                  KBJR-TV (Duluth, Minnesota)
                  WEEK-TV (Peoria, Illinois)

Ladies and Gentlemen:

         The following shall comprise the agreement among us for the affiliation
of the television broadcasting stations set forth above (each of the Parties and
their respective station being referred to herein together as a "STATION" and
all of the Stations, collectively, the "STATIONS") with the NBC Television
Network ("NBC") and shall supersede and replace all prior agreements between
each Station and NBC (which agreements, including without limitation the
affiliation agreements for KSEE, KBJR-TV and WEEK-TV, are hereby terminated and
of no further force or effect) except (x) for the most recent amendments to such
prior agreements with respect to network non-duplication protection under
Federal Communications Commission ("FCC") Rules Section 76.92 (the
"NON-DUPLICATION AMENDMENTS") and (y) that any indemnities provided for in such
prior agreements, as well as any liabilities outstanding thereunder as of the
date of this Agreement, shall survive.

         1. TERM. This Agreement shall become effective at 3:00 A.M., New York
City time as of the date hereof, provided, that notwithstanding the foregoing,
Sections 2, 3, 5, 6, 7, 8, 9, 10, 11, 12, 15, 16, 17, 18 and 19(b) and (c) shall
be of no force or effect with respect to KNTV(TV), and KNTV(TV)'s affiliation
with NBC shall not commence, until 3:00 A.M., New York City time on January 1,
2002 (the "KNTV(TV) EFFECTIVE DATE"). Unless sooner terminated as provided
hereunder, this Agreement shall remain in effect until 2:59 A.M., New York City
time on January 1, 2012.

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         2.       PROGRAMMING.

         (a) NBC commits to supply programming throughout the term of this
Agreement for free over-the-air television broadcasting by each Station during
the hours set forth below (the "PROGRAMMED TIME PERIODS"). Each Station agrees
that, subject only to Section 3 below, Station shall clear and broadcast all
programming supplied to Station hereunder for broadcast ("NBC PROGRAMMING" and
any one program of NBC Programming, an "NBC PROGRAM") in the Programmed Time
Periods on the dates and at the times the programs are scheduled by NBC.

<TABLE>
<CAPTION>
         For KNTV(TV) and KSEE:

         <S>                                <C>
         Monday through Saturday:           8:00-11:00 P.M.
         Sunday:                            7:00-11:00 P.M.

         Monday through Thursday:           11:35 P.M.-2:05 A.M.
         Friday:                            11:35 P.M.-2:35 A.M.
         Saturday:                          11:30 P.M.-1:00 A.M.

         Monday through Friday:             4:30-5:00 A.M., 7:00-10:00 A.M., and 5:30-6:00 P.M.
         Saturday:                          7:00-9:00 A.M. and 5:30-6:00 P.M.
         Sunday:                            8:00-9:00 A.M., 10:30-11:30 A.M. and 5:30-6:00 P.M.

         Monday through Friday:             1:00-3:00 P.M.
         Saturday:                          10:00 A.M.-1:00 P.M.

         Monday through Friday:             2:05-4:00 A.M.

         For KBJR-TV and WEEK-TV:

         Monday through Saturday:           7:00-10:00 P.M.
         Sunday:                            6:00-10:00 P.M.

         Monday through Thursday:           10:35 P.M.-1:05 A.M.
         Friday:                            10:35 P.M.-1:35 A.M.
         Saturday:                          10:30 P.M.-12:00 Midnight

         Monday through Friday:             4:30-5:00 A.M., 7:00-9:00 A.M., 9:00-10:00 A.M. and 5:30-6:00 P.M.
         Saturday:                          7:00-9:00 A.M. and 5:30-6:00 P.M.
         Sunday:                            8:00-9:00 A.M., 10:30-11:30 A.M. and 6:30-7:00 P.M.

         Monday through Friday:             12:00 Noon-2:00 P.M.

         Saturday:                          9:00A.M.-12:00 Noon

         Monday through Friday:             1:05-3:00 A.M.
</TABLE>

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         (b) Notwithstanding Section 2(a), with NBC's prior written consent, a
Station may clear and broadcast NBC Programming at times other than the times
scheduled by NBC, and Stations and NBC agree to negotiate in good faith any
proposed scheduling changes. Any agreed scheduling change shall count as 1/2
unit toward Station's Prime Time Preemption Amount (as defined in Section 3(d));
e.g., if the rescheduled NBC Program runs for one hour, Station's Prime Time
Preemption Amount would be reduced by 1/2 hour; and if the rescheduled NBC
Program runs for 1/2 hour, Station's Prime Time Preemption Amount would be
reduced by 1/4 hour, etc.) if Station can demonstrate to NBC' s reasonable
satisfaction that the scheduling change will not result in a decrease of more
than 1/2 the percentage of Households Using Televisions ("HUTS") in the
Designated Market Area (as defined by Nielsen, "DMA") which the NBC Program
would have delivered if broadcast at the originally scheduled time. If Station
is not able to so demonstrate, the agreed scheduling change will count as one
unit toward Station's Prime Time Preemption Amount (e.g., if the rescheduled NBC
Program runs for one hour, Station's Prime Time Preemption Amount would be
reduced by one hour, etc.).

         (c) NBC shall advise each Station of NBC's programming for the
Programmed Time Periods at least sixty (60) days prior to the commencement of
any Broadcast Year by posting on the internet site currently referred to as
"Affiliate Partnership Tool" ("APT") or by any other means of written notice as
NBC may deem advisable. NBC shall advise Stations of any changes in programming
or scheduling by posting on APT or by such other means of written notice as NBC
may deem advisable.

         (d) In addition to programming supplied above, NBC shall offer each
Station a variety of sports programming and special events programming ("NBC
SPORTS PROGRAMMING") for television broadcast at times other than Programmed
Time Periods. For a period of seventy-two (72) hours following NBC' s offer,
Stations shall have the right of first refusal with respect to such programming
as against any other television station located in Station's community of
license or any television program transmission service furnishing a television
signal to Station's community of license. A Station shall confirm its clearance
of such programming to NBC within the 72-hour period via APT or such other means
as NBC may designate. A Station's confirmation of clearance shall constitute
Station's agreement to broadcast such programming in accordance with the terms
of such offer and this Agreement.

         (e) The selection, scheduling, substitution and withdrawal of any NBC
Program or other portion of NBC Programming shall at all times remain within the
sole discretion and control of NBC. Each Station acknowledges that local and
network programming needs may change during the Term, and that NBC may (i)
subtract from or otherwise modify the Programmed Time Periods from time to time
on at least 180 days' prior written notice to Station, and (ii) add to the
Programmed Time Periods only after NBC has announced the proposed addition to a
majority (based on DMA percentage designations in effect at the time) (the
"AFFILIATE MAJORITY") of NBC affiliated television stations ("NBC AFFILIATES")
and, after such announcement, NBC has determined to implement such addition with
respect to the Affiliate Majority. Nothing herein shall prevent or hinder NBC
from (i) substituting one or more sponsored or sustaining programs (i.e.,
programs which do not include local availabilities) or (ii) canceling one or
more NBC Programs; provided, that NBC shall exercise all reasonable efforts to
give Stations at least three (3) weeks prior notice thereof

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         (f) For purposes of this Agreement, a "BROADCAST YEAR" shall mean a
twelve (12) month period during the Term which commences on any September 1 and
ends on August 31 of the immediately following year.

         3.       PREEMPTIONS.

         (a) Each Station acknowledges that NBC will make a substantial
investment in network programming during the term of this Agreement in order to
provide Station with network-quality news, public affairs, entertainment,
sports, children's and other programming. In view of such investment, and after
considering the amount of broadcast time available to Station outside of the
Programmed Time Periods, each Station further acknowledges and confirms that it
does not presently foresee any need to substitute programming of any kind for
NBC Programming, except under those circumstances requiring live coverage of
local news events, including follow-up coverage which airs within 48 hours of
the original newsworthy event ("NEWS EVENTS").

         (b) Except as set forth in the immediately following sentence, in the
event a Station preempts or otherwise fails to broadcast any NBC Programming
(including, without limitation, NBC Sports Programming) on the dates and at the
times such Programming is scheduled by NBC, then without limiting any other
rights or remedies of NBC under this Agreement or otherwise, Station shall pay
to NBC an amount equivalent to NBC's loss of gross advertising revenues
attributable to Station's failure to broadcast such program in Station's market,
calculated in accordance with Exhibit B hereto. Station shall have no obligation
to reimburse NBC for lost advertising revenues if (x) such failure to broadcast
NBC Programming is a direct result of (i) Station's live coverage of News Events
(excluding the addition of scheduled local news programs as a part of Station's
continuing program schedule), (ii) an event of force majeure as provided in
Section 11 hereof, (iii) a scheduling change to which NBC has granted its prior
written consent pursuant to Section 2(a) hereof, or (iv) Station's right to
preempt NBC Programming pursuant to Sections 3(d) and 3(e) below; or (y) if
Station reasonably believes that such programming is unsatisfactory, unsuitable,
or otherwise contrary to the public interest.

         (c) A Station's determination under clause (y) of subsection (b) above
shall be based upon a substantial difference between the relevant program's
style and content and the style and content of other NBC Programs previously
broadcast by Station. In addition, no Station shall preempt or otherwise fail to
broadcast any NBC Programming under clause (y) of subsection (b) above as a
result of commercial motivation; that is, programming shall not be deemed to be
unsatisfactory, unsuitable or contrary to the public interest based on
performance, ratings, or the availability of alternative programming which
Station believes to be more profitable or more attractive.

         (d) Each Station covenants, represents and warrants to NBC that in any
Broadcast Year during the term of this Agreement, such Station shall preempt no
more than five (5) hours in the aggregate (the "PRIME TIME PREEMPTION AMOUNT")
of NBC Programs during the Programmed Time Periods for any reason other than for
News Events. Each Station hereby confirms that its rights and obligations under
this Section 4(d) are consistent with the provisions of Section 4(a) above.

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         (e) Each Station agrees to accept and clear on the dates and at the
times scheduled by NBC all NBC Sports Programming offered by NBC outside the
Programmed Time Periods except Station shall have no obligation to accept and
clear NBC Sports Programming to the extent such programming directly conflicts
with Station's coverage of local sports events and special events of particular
local interest (collectively, "SPECIAL PROGRAMS"). Each Station agrees that its
coverage of Special Programs outside the Programmed Time Periods in any
Broadcast Year shall not exceed more than five (5) hours in the aggregate (the
"SPORTS PREEMPTION AMOUNT").

         (f) In the event a Station preempts or otherwise fails to broadcast any
NBC Programming or notifies NBC of its intention to do so, NBC may elect to
offer Station an alternative time period for broadcast of the omitted NBC
Program (including the commercial announcements contained therein, and any
replacements thereof). If Station fails to agree to such alternative broadcast,
then in addition to all other remedies available to it, NBC shall have the right
to license the broadcast rights to the omitted NBC Program to any other
distribution outlet for distribution in Station's DMA (in the case of KNTV(TV))
or Station's community of license (in the case of the other Stations).

         (g) In the event a Station fails to pay to NBC any amounts required to
be paid by it pursuant to this Section 3, and such failure remains uncured after
30 days' written notice from NBC, then in addition to all other remedies
available to it, NBC shall have the option, exercisable in its sole discretion
upon 30 days' notice to the breaching Station to (i) terminate that Station's
right to broadcast any one or more series or other NBC Programs, and to the
extent and for the periods that NBC so elects, license the broadcast rights to
such series or other NBC Program(s) to any other distribution outlet for
distribution in that Station's DMA (in the case of KNTV(TV)) or Station's
community of license (in the case of the other Stations) or (ii) terminate this
Agreement with respect to Station.

         (h) Notwithstanding the foregoing provisions of this Section 3, in the
event that a Station preempts or fails to clear or broadcast on the dates and at
the times scheduled by NBC (in the absence of an agreement regarding a schedule
change pursuant to Section 2(b)) the same prime time NBC Program for four
consecutive scheduled broadcasts of the NBC Program, for any reason other than
for the News Events, then (x) the preemptions shall constitute such Station's
permanent non-clearance of the NBC Program for the duration of the Broadcast
Year, (y) each preemption or failure to clear the NBC Program shall count toward
such Station's Prime Time Preemption Amount and (z) NBC shall be entitled to the
payments contemplated by Section 3(b) above for each scheduled broadcast of the
NBC Program for the duration of the Broadcast Year.

         4.       PAYMENTS.

         (a) AFFILIATION PAYMENTS. In consideration of NBC entering into this
Agreement, and notwithstanding termination of this Agreement with respect to any
Station (other than termination by NBC of this Agreement with respect to
KNTV(TV) pursuant to and in accordance with the terms of Section 21 hereof),
Granite shall pay NBC $362,000,000 (the "AFFILIATION PAYMENTS"), payable
annually in advance in the amounts and on the dates set forth below, by
electronic transfer or such other means as NBC shall determine:

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<TABLE>
                  <S>               <C>
                  January 1, 2002   $61,000,000
                  January 1, 2003   $33,500,000
                  January 1, 2004   $33,500,000
                  January 1, 2005   $36,000,000
                  January 1, 2006   $36,000,000
                  January 1, 2007   $39,500,000
                  January 1, 2008   $39,500,000
                  January 1, 2009   $41,500,000
                  January 1, 2010   $41,500,000
</TABLE>

         (b) OTHER PAYMENTS TO NBC. In connection with Stations' affiliation
with NBC, Granite and Stations agree that each Station shall pay NBC (or an
entity controlling, controlled by or under common control with NBC, as
appropriate):

               (i)  All amounts owed by Station pursuant to Station's NBC News
                    Channel Participation Agreement;

              (ii)  All amounts owed by Station pursuant to Station's
                    Distribution Contribution Agreement (as defined below);

             (iii)  All amounts owed by Station pursuant to the Inventory
                    Management Plan; and

              (iv)  All amounts owed by Station pursuant to this Agreement,
                    including without limitation pursuant to Section 3 hereof.

         (c)      PAYMENTS TO GRANITE.

                  (i) In consideration for termination of the prior affiliation
         agreements with KB JR-TV, KSEE and WEEK-TV (the "PRIOR AGREEMENTS"),
         NBC shall pay to Granite $2,430,000 (subject to adjustment for amounts
         paid pursuant to the Prior Agreements for the period January 1, 2000 -
         June 30, 2000), payable in the amounts and on the dates set forth
         below:

<TABLE>
                  <S>                                <C>
                  June 30, 2000                      $607,500*
                  December 31, 2000                  $607,500*
                  June 30, 2001                      $607,500
                  December 31, 2001                  $607,500
</TABLE>

               *subject to adjustment for amounts paid pursuant to the Prior
               Agreements for the period January 1, 2000 - June 30, 2000

                  (ii) In consideration of payment of the amounts set forth in
         subparagraph (i) above, Granite shall expend not less than $1,800,000
         (the "PROMOTION AMOUNT") prior to or after the KNTV Effective Date, as
         directed and approved in writing in advance by NBC, for promotion and
         other initiatives in respect of KNTV(TV). For the avoidance of doubt,
         NBC shall work with Granite to develop a plan of expenditures for the
         Promotion Amount; provided, however, that all expenditures of the
         Promotion Amount shall be

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         mutually agreed by NBC and Granite. From time to time upon NBC's
         request, Granite shall provide NBC with appropriate documentation
         evidencing such expenditures.

         (d)      DEFAULT.

                  (i) In the event that Granite or any Station is in default of
         any obligation under Section 4(a) which default remains uncured 30 days
         after Granite's receipt of notice thereof from NBC, NBC shall have the
         right, at its election, to either (i) terminate this Agreement in its
         entirety upon notice to Granite, or (ii) subject to any necessary
         regulatory approvals, acquire the stock or assets of KNTV(TV) and KNTV
         License, Inc. (the "KNTV ASSETS") at Fair Market Value (as defined
         below), less any accrued due or past due and unpaid amounts at that
         time owed to NBC (or any entity controlling, controlled by or under
         common control with NBC) under this Agreement (it being understood that
         any Section 4(a) installment payment due on or after the termination
         date shall not be deducted) or otherwise, and less NBC's reasonable
         transaction costs to the extent permitted under the terms and
         conditions of (x) Granite Broadcasting Corporation Fourth Amended and
         Restated Secured Credit Agreement, dated as of June 10, 1998, among
         Granite and the financial institutions named therein, as such agreement
         may be amended, modified, renewed or replaced from time to time, and
         (y) Granite's preferred stock outstanding as of the date of this
         Agreement. To establish the "FAIR MARKET VALUE" of the KNTV Assets, NBC
         and Granite shall first negotiate in good faith for 10 days (which
         period may be extended by mutual agreement) to reach mutual agreement
         as to such valuation. If NBC and Granite are unable to mutually agree
         upon a valuation in such time period, then Fair Market Value shall be
         determined by an independent third party appraiser mutually appointed
         by NBC and Granite. In the event NBC and Granite are unable to mutually
         agree upon an appraiser within 10 days, then each of NBC and Granite
         shall choose one nationally recognized investment bank to perform such
         valuation, and each such investment bank shall perform such valuation
         within 20 days following the appointment of both investment banks. In
         the event the higher of the two values determined by the investment
         banks is equal to or less than 110% of the lower value, then the
         average of the two valuations shall be deemed the Fair Market Value of
         the KNTV Assets. If the higher value is greater than 110% of the lower
         value, then the two investment banks shall promptly appoint a third
         nationally recognized investment bank (which shall not have access to
         the results of the first two banks' determinations) to determine the
         Fair Market Value, and the average of the two closest determinations
         (of the three investment banks) shall be the Fair Market Value of the
         KNTV Assets. Appraisals pursuant to this Section 4(d) shall be
         conducted without giving effect to KNTV(TV)'s affiliation with NBC
         (i.e., as an independent, non-network affiliated station) and with NBC
         and Granite sharing equally the costs and expenses of such appraisal.

                  (ii) In addition to its rights and remedies set forth in
         subparagraph 4(d)(i) above, NBC may at its option terminate this
         Agreement in the event (A) that KNTV(TV) or KINTV License, Inc. or any
         subsidiary of either thereof (each, a "KNTV ENTITY") pursuant to or
         within the meaning of any bankruptcy law (i) commences a voluntary
         case, (ii) consents to the entry of an order for relief against it in
         an involuntary case, (iii) consents to the appointment of a custodian
         of it for all or substantially all of its property,

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         (iv) makes a general assignment for the benefit of its creditors, or
         (v) generally is not paying its debts as they become due; or (B) a
         court of competent jurisdiction enters an order or decree under any
         bankruptcy law that (i) is for relief against a KNTV Entity in an
         involuntary case, (ii) appoints a custodian of any KNTV Entity or for
         all or substantially all of the property of any KNTV Entity, or (iii)
         orders the liquidation of any KNTV Entity, and the order or decree
         remains unstayed and in effect for 60 days (either (A) or (B), a "KNTV
         BANKRUPTCY EVENT"). Upon termination of this Agreement pursuant to this
         subparagraph 4(d)(ii), NBC shall reimburse Granite a pro rata portion
         of the Affiliation Payment made in the year of termination, which
         amount shall be calculated by multiplying the Affiliation Payment made
         in the year of termination by a fraction, the numerator of which is the
         number of days remaining in the calendar year of termination after the
         date of termination and the denominator of which is 365; provided that
         NBC shall have no such reimbursement obligation if such termination
         occurs in the year 2012.

         5. DISTRIBUTION CONTRIBUTION AGREEMENT. Granite shall enter into a
Distribution Contribution Agreement in the form attached as Exhibit A hereto.

         6. INVENTORY MANAGEMENT PLAN. Each Station shall fully participate in
the "Inventory Management Plan" as endorsed by NBC Television Affiliates (a/k/a
the NBC Affiliate Board) on May 19, 1998 (the "INVENTORY MANAGEMENT PLAN"), and
in any additional or substitute inventory management plans approved in the
future by a majority of the NBC affiliated television stations.

         7. LOCAL COMMERCIAL ANNOUNCEMENTS. From time to time and at least once
each calendar quarter, NBC shall provide Stations with notice setting forth the
amount and placement of availabilities for Stations' respective local commercial
announcements in and adjacent to regularly scheduled NBC Programming.

         8. CONDITIONS OF STATION'S BROADCAST. Each Station's broadcast of NBC
Programming shall be subject to the following terms and conditions:

                  (a) Station shall not make any deletions from, or additions or
modifications to, any NBC Program or any commercial, NBC identification, program
promotional or production credit announcements or other interstitial material
contained therein, nor broadcast any commercial or other announcements (except
emergency bulletins) during any such program, without NBC's prior written
authorization. Station may, however, delete announcements promoting any NBC
Program which is not to be broadcast by Station, provided that (i) such deletion
shall be permitted only in the event and to the extent that Station substitutes
for any such deleted promotional announcements other announcements promoting NBC
Programs to be broadcast by Station, and (ii) Station shall run an announcement
(which may be by voice-over or crawl) within the program broadcast at the
scheduled time of the preempted NBC program identifying(x) the preempted NBC
Program and its next scheduled broadcast time and date, and (y) in the event NBC
has licensed the broadcast rights to the preempted NBC Program to another
distribution outlet located in Station's DMA (in the case of KNTV(TV)) or
Station's community of license (in the case of the other Stations), such other
distribution outlet and its scheduled broadcast time and date of the program.
Station shall broadcast each NBC Program from the commencement of network
origination until the commencement of the next program.

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                  (b) For purposes of identification of Station with the NBC
Programs, and until written notice to the contrary is given by NBC, Station may
superimpose on certain Entertainment programs, where designated by NBC, a single
line of type, not to exceed fifty (50) video lines in height and situated in the
lower eighth raster of the video screen, which single line shall include (and be
limited to) Station's call letters, community of license or home market, channel
number, and the NBC logo. No other addition to any Entertainment program is
contemplated by this consent, and the authorization contained herein
specifically excludes and prohibits any addition whatsoever to News and Sports
programs, except identification of Station as provided in the preceding sentence
as required by the FCC.

         9. LOCAL NEWS. Each Station agrees, during the term of this Agreement,
to broadcast local news programs of at least thirty (30) minutes in length as
lead-ins to each of "The Today Show" (or replacement programming), "NBC Nightly
News" (or replacement programming) and NBC's Late Night Programming; provided,
that Station may preempt any of such local news programming on Saturday or
Sunday to the extent that such programming would directly conflict with
Station's broadcast of weekend NBC Sports Programming.

         10. STATION REPORTS. Each Station shall submit to NBC in writing upon
forms provided by NBC or via e-mail or via APT, as NBC may designate, such
reports as NBC may request covering the broadcast by Station of NBC Programming.

         11. FORCE MAJEURE. Neither any Station nor NBC shall incur any
liability hereunder because of NBC' s failure to deliver, or the failure of a
Station to broadcast, any or all NBC Programs due to failure of facilities,
labor disputes, government regulations or causes beyond the reasonable control
of the party so failing to deliver or to broadcast. Without limiting the
generality of the foregoing, NBC's failure to deliver a program due to
cancellation of that program for any reason shall be deemed to be for causes
beyond NBC's reasonable control.

         12. INDEMNIFICATION. NBC shall indemnify, defend and hold each Station
(individually, an "INDEMNIFIED STATION"), its parent, subsidiary and affiliated
companies, and their respective directors, officers and employees, harmless from
and against all claims, damages, liabilities, costs and expenses (including
reasonable attorneys' fees) arising out of the use by the Indemnified Station,
in accordance with this Agreement, of any NBC Program or other material as
furnished by NBC hereunder, provided that the Indemnified Station promptly
notifies NBC of any claim or litigation to which this indemnity shall apply, and
that the Indemnified Station cooperates fully with NBC in the defense or
settlement of such claim or litigation. Similarly, each Station (individually,
an "INDEMNIFYING STATION") shall indemnify, defend and hold NBC, its parent,
subsidiary and affiliated companies, and their respective directors, officers
and employees, harmless with respect to (x) material added to or deleted from
any program by the Indemnifying Station, except for cut-ins produced by or on
behalf of NBC and inserted by the Indemnifying Station at NBC' s direction and
(y) any programming or other material broadcast by the Indemnifying Station and
not provided by NBC hereunder.

         These indemnities shall not apply to litigation expenses, including
attorneys' fees, which the indemnified party elects to incur on its own behalf
Except as otherwise provided herein, neither any Station, on the one hand, nor
NBC, on the other hand, shall have any rights against the other for claims by
third persons, or for the non-operation of facilities or the non-furnishing

                                       9
<PAGE>

of programs for broadcasting, if such non-operation or non-furnishing is due to
failure of equipment, actions or claims by any third person, labor disputes, or
any cause beyond such party's reasonable control.

         13. PROGRAM DEVELOPMENT COSTS. Throughout the term of this Agreement,
upon request from NBC, Granite and/or Stations shall participate with NBC to
contribute financially, pro-rata on a station-by-station basis, based upon DMA
percentage, to future NBC efforts to secure as part of NBC Programming major
sports and entertainment programming opportunities (including, for example and
without limitation, rights to broadcast National Football League games and
entertainment programs such as "ER").

         14.      COOPERATION.

         (a) Throughout the term of this Agreement and where commercially and
legally feasible as reasonably determined by NBC, NBC will offer Granite the
right to participate in: (x) NBC syndicated programming acquisitions and (y) NBC
"preferred-relationship" technology and equipment transactions, in each case at
terms comparable to those applicable to NBC's owned and operated television
stations (the "NBC O&O'S"). NBC will use reasonable efforts to provide Granite
with the material terms of each such participation at least five business days
prior to requiring Granite to elect whether to participate.

         (b) Throughout the term of this Agreement, NBC shall use good faith
efforts to cooperate with Granite in notifying Granite of, and when commercially
feasible in NBC's reasonable discretion, offering Granite participation in, new
NBC undertakings of over-the-air broadcast ventures within Stations' communities
of license (whether or not involving the transmission of television programs,
but excluding any existing ventures (including, without limitation, ventures
with Paxson Communications and/or PaxTV) and excluding any acquisition of an
ownership interest in any broadcast television station).

         15. REGIONAL NEWS. In the event that during the term of this Agreement
NBC holds or acquires a controlling (as defined in Section 20(d)) interest in a
regional or local cable news service within the San Francisco DMA, NBC will
offer Granite the right to participate in such cable news service as a provider
of local news content (through KNTV(TV)), an equity participant, or in such
other manner as NBC and Granite may mutually agree. NBC will use reasonable
efforts to provide Granite with the material terms of such participation at
least 30 days prior to requiring Granite to elect whether to participate.

         16. CHANGE IN OPERATIONS. Each Station represents and warrants that it
holds a valid license granted by the FCC to operate Station as a television
broadcast station; such representation and warranty shall constitute a
continuing representation and warranty by Station. In the event that at any time
(a) a Station's transmitter location, power, or frequency is changed so as to
effect a material reduction in coverage by the Station, (b) a Station's
programming format or hours of operation are materially changed, (c) a Station
ceases to produce and broadcast local news, or (d) the number of hours of local
news which a Station broadcasts materially decreases, in each case so that such
Station is of less value to NBC as a broadcaster of NBC programming than at the
date of this Agreement, then NBC may terminate this Agreement with respect to
such Station or Stations upon thirty (30) days prior written notice to such

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Station(s). With regard to Section 16(d), a reduction in the total number of
local news hours broadcast by a Station will not be "material" if the decrease
is a direct result of Station's clearance of NBC Programming during the
Programmed Time Periods as contemplated by this Agreement.

         17. DTV CONVERSION. Each Station acknowledges that upon commencement of
operation of Station's digital television signal ("DTV CHANNEL"), each Station
will, to the same extent as this Agreement provides for carriage of NBC
Programming on its analog channel, carry on such DTV Channel the digital feed of
such NBC Programming as and in the technical format provided by NBC consistent
with the ATSC standards and all "Program-Related Material" (as defined below);
provided, such Program-Related Material is formatted to be contained within the
6 MHz channel assigned by the FCC to each Station for digital broadcasting. It
is expressly understood that this Agreement applies only to the primary network
feed in digital format of the programming provided by NBC to its affiliated
stations for the purpose of analog broadcasting (the "PRIMARY NETWORK FEED"),
together with Program-Related Material, and that the Stations will in no event
be required to carry additional digital network programming (i.e., "multiplexed"
programming). Consistent with and subject to the foregoing, the Stations shall
have the right to use any available remaining portion of their respective
digital capacity for the purpose of transmitting local programs or any other
material for any business purpose; provided, however, that in the event that NBC
proposes that any such Station or Stations carry network multiplexed programming
or ancillary data which is not Program-Related Material, each such Station
agrees to negotiate in good faith with NBC regarding the terms pursuant to which
such multiplexed programming or ancillary data may be carried.

         As used in this Section, "PROGRAM-RELATED MATERIAL" shall mean (i)
closed-captioning information, (ii) program identification codes, (iii) program
ratings information, (iv) alternative language feeds related to the programming,
(v) Nielsen data, (vi) programming, data and other enhancements which are
related to the programming and network advertisements provided in the Primary
Network Feed and which are intended to be viewed in conjunction with such
programming and advertisements, (vii) such other material as has been agreed by
the Affiliate Majority (calculated by excluding the affiliated television
stations owned and operated by NBC), (viii) such other material as may be
provided by NBC that is necessary for the delivery or distribution of the NBC
Television Network programs in digital format, (ix) information and material
directly associated with specific network commercial advertisements contained in
the network programs, and (x) information and material designed to promote
network programming; provided, that in no case shall such promotional and
informational material supersede or substantially interfere with the Primary
Network Feed then being transmitted for viewing by the audience. To the extent
that a Station is not transmitting a DTV Channel as of May 1, 2002 and Station
is not then able to demonstrate to NBC that Station is exercising commercially
reasonable efforts to transmit a DTV Channel, NBC shall be permitted to offer
the Primary Network Feed, together with any Program-Related Material or other
material provided by NBC for digital transmission, to any licensee transmitting
a DTV Channel in Station's DMA (in the case of KNTV(TV)) or Station's community
of license (in the case of the other Stations) notwithstanding any other
provision of this Agreement.

                                       11
<PAGE>

         18.      UNAUTHORIZED COPYING AND TRANSMISSION: RETRANSMISSION CONSENT.

                  (a) No Station shall authorize, cause, or permit, without
NBC's consent, any NBC Program or other material furnished to Station
hereunder to be recorded, duplicated, rebroadcast or otherwise transmitted or
used for any purpose other than broadcasting by Station as provided herein.
Notwithstanding the foregoing, no Station shall be restricted in the exercise
of its signal carriage rights pursuant to any applicable rule or regulation
of the FCC with respect to retransmission of its broadcast signal by any
cable system or multichannel video program distributor ("MVPD"), as defined
in Section 76.64(d) of the FCC Rules, which (a) is located within the DMA in
which Station is located, or (b) was actually carrying Station's signal as of
April 1, 1993, or (c) with respect to cable systems, serving an area in which
Station is "significantly viewed" (as determined by the FCC) as of April 1,
1993; provided, however, that any such exercise pursuant to FCC Rules with
respect to NBC Programs shall not be deemed to constitute a license by NBC.
NBC reserves the right to restrict such signal carriage with respect to NBC
Programming in the event of a change in applicable law, rule or regulation.

                  (b) In consideration of the grant by NBC to Stations of the
Non-Duplication Amendments, each Station hereby agrees as follows:

                  (i) Station shall not grant consent to the retransmission of
         its broadcast signal by any cable television system, or, except as
         provided in Section 18(b)(ii) below, to any other MVPD whose carriage
         of broadcast signals requires retransmission consent, if such cable
         system or MVPD is located outside the DMA to which Station is assigned,
         unless Station's signal was actually carried by such cable system or
         MVPD as of April 1, 1993, or, with respect to such cable system, is
         "significantly viewed" (as determined by the FCC) as of April 1, 1993.

                  (ii) Station shall not grant consent to the retransmission of
         its broadcast signal by any MVPD that provides such signal to any home
         satellite dish user, unless such user is located within Station's own
         DMA.

                  (c) If Station violates any of the provisions set forth in
this Section 18, NBC may, in addition to any other of its rights or remedies at
law or in equity under this Agreement or any amendment thereto, terminate this
Agreement with respect to the violating Station by written notice to Station
given at least ninety (90) days prior to the effective date of such termination.

         19.      "BRANDING" PLAN/PROMOTION/STATION SWITCH.

         (a) NBC agrees to work with each Station to "brand" Station as an "NBC
Station" in Station's market through cooperative efforts in areas such as on-air
promotion, unified graphic design, use of the NBC peacock logo and NBC
identification. Each Station agrees to be branded as an "NBC Station" and to
participate in the foregoing branding promotion plan during the term hereof so
as to cause the Stations to be identified, in the perception of television
viewers, as "NBC Stations" similar to such viewers' perception of the NBC O&O's
as "NBC Stations." NBC, on the one hand, and each Station, on the other hand,
agree to consult with each other, promptly after execution hereof, with respect
to implementation of such branding undertaking.

                                       12
<PAGE>

Notwithstanding the foregoing, NBC hereby agrees that the branding of KSEE,
KBJR-TV and WEEK-TV as of the date of this Agreement is in compliance with this
paragraph 19(a).

         (b) Each Station shall dedicate annually for on-air promotion of NBC
Programming not less than (x) 16,500 Gross Rating Points ("GRP's") or (y) 25% of
the total GRP's for all fixed promotional announcements broadcast by Station,
whichever is greater. The NBC Advertising and Promotion department may consult
with each Station to develop Station's allocation of the committed GRP's based
on promotional needs of both Stations and NBC.

         (c) Each Station shall continue to participate in the year-round swap
program.

         (d) NBC, Granite and KNTV(TV) each acknowledge that KNTV(TV)'s
affiliation with NBC and related station switch will require significant
cooperation among such parties both before and after the KNTV Effective Date in
order to acclimate the San Francisco DMA viewing audience to KNTV(TV)'s new
affiliation with NBC and to mitigate the effect of the station switch.
Accordingly, Granite and KINTV(TV) agree to work diligently and in good faith
with NBC (in particular, with NBC News and with NBC's promotion divisions) both
before and after the KNTV Effective Date to implement programming and other
initiatives as NBC may propose in respect of KNTV(TV).

         20.      ASSIGNMENT.

         (a) If any application is made to the FCC pertaining to an assignment
or a transfer of control of a Station's license, or any interest therein or in
Granite, Granite shall immediately notify NBC in writing of the filing of such
application. Except as to "short form" assignments or transfers of control made
pursuant to Section 73.3540(f) of the FCC Rules ("SHORT-FORM TRANSACTIONS"),
promptly following Granite's notice to NBC, Granite shall arrange for a meeting
between NBC and the proposed assignee or transferee to review the financial and
operating plans and such other information as NBC may request of the proposed
assignee or transferee. Within thirty (30) days of such meeting, except as to
Short-Form Transactions, NBC shall either (x) consent to the proposed assignment
or transfer of control, in which event the assignee or transferee shall enter
into an assumption agreement in form and substance satisfactory to NBC or (y)
terminate this Agreement with respect to Granite and/or each Station party to
the assignment or transfer of control. In the event that NBC terminates this
Agreement pursuant to the preceding sentence, upon such termination NBC shall
pay Granite the Unearned Affiliation Payment (as defined in paragraph 20(b)
below); provided, that such termination would not trigger NBC's obligation to
pay Granite $14,500,000 as provided in Section 21 below. Any purported
assignment or transfer by Granite or any Station that does not comply with the
foregoing shall be null and void and not enforceable against NBC.

         (b) Notwithstanding any other provision of this Section 20 to the
contrary, Granite shall provide NBC with at least 60 days prior written notice
(the "OFFER NOTICE") of any (i) proposed sale, lease, assignment, change of
control, disposition, or transfer, or (ii) any other reorganization or
recapitalization involving a change of control; in either case, directly or
indirectly, in part or in whole (any of the foregoing, a "PROPOSED
TRANSACTION"), of KNTV(TV), KNTV License, Inc., any other entity that owns a
material portion of the assets of or any FCC license of KNTV(TV), and/or any of
the respective securities or related assets of any of the

                                       13
<PAGE>

foregoing, including, without limitation, a change of control of Granite. The
Offer Notice shall include the material terms of the Proposed Transaction
including without limitation the name of the proposed transferee, a description
of the assets and/or securities to be transferred, the consideration to be paid
therefor (the "OFFER PRICE"), and all other material terms and conditions.

         NBC shall have the option to acquire the KNTV Assets on the same
material terms as the material terms of the Proposed Transaction, exercisable
upon written notice to Granite given within 60 days from NBC' s receipt of the
Offer Notice, such notice to indicate either that (x) NBC may elect to exercise
its option, in which event NBC shall have an additional 30-day period in which
to give Granite definitive notice of its election, or (y) NBC elects not to
exercise its option. In the case of a change of control of Granite, the
consideration to be paid by NBC for the KNTV Assets shall be determined based on
the Fair Market Value of the KNTV Assets.

         In the event that NBC elects not to exercise its option, then for a
period of 90 days from the earlier of (i) the expiration of the offer to NBC and
(ii) Granite's receipt of written notice from NBC stating that NBC does not
intend to exercise its option, Granite shall be free to enter into a binding
obligation to sell the proposed assets or securities to a third party at a price
equal to or greater than the Offer Price and on terms no more favorable to such
third party than those set forth in the Offer Notice; provided, that any such
transaction shall be subject to NBC's consent and termination rights as set
forth in paragraph (a) of this Section 20.

         In the event that NBC acquires the KNTV Assets pursuant to this
provision, this Agreement shall terminate with respect to KNTV and, NBC shall
pay to Granite the Unearned Affiliation Payment. "UNEARNED AFFILIATION PAYMENT"
means, if termination occurs after payment of the January 1, 2002 Affiliation
Payment but prior to January 1, 2012, $30.5 million plus the product determined
by multiplying the Affiliation Payment made in the year of termination of this
Agreement by a fraction (the "FRACTION") the numerator of which is the number of
calendar days remaining in the calendar year of termination after the date of
termination and the denominator of which is 365; provided, however, that if at
the time of termination an uncured default by Granite or any Station under
Section 4(a) hereof or a KNTV Bankruptcy Event shall have occurred and be
continuing, then the "Unearned Affiliation Payment" shall be the foregoing
result minus $30.5 million. In the event termination occurs in 2012, the
"Unearned Affiliation Payment" shall be $30.5 million multiplied by the
Fraction.

         (c) Notwithstanding any other provision of this Agreement to the
contrary, the rights and obligations of Granite under Sections 14 and 15 of this
Agreement may not be assigned or transferred.

         (d) For purposes of Section 15 and this Section 20, (i) "control" shall
mean having the power to direct the affairs of an entity by reason of any of the
following: (x) having the power to elect or appoint, directly or indirectly, a
majority of the governing body of such entity, (y) owning or controlling the
right to vote a majority of the voting interest of such entity or (z) otherwise
owning or controlling a majority interest in such entity, and (ii) "transfer"
shall include, without limitation, any direct or indirect change in the control
of KNTV(TV), KNTV License, Inc. or Granite. NBC acknowledges that W. Don
Cornwell owns fifty-five percent (55%) of the voting stock of Granite and that
the transfer for estate, tax or similar planning purposes by Mr. Cornwell of his
voting stock to (i) his estate, (ii) his immediate family members,

                                       14
<PAGE>

or (iii) trusts or other entities which are 100% beneficially owned by Mr.
Cornwell, his estate or his immediate family members, shall not constitute a
"change of control".

         21. SPECIAL TERMINATION RIGHT. If during the term of this Agreement NBC
elects to acquire an attributable interest (determined under FCC rules and
regulations) in another distribution outlet within the San Francisco DMA (a "NEW
OUTLET"), NBC shall give Granite at least 90 days prior notice thereof
Contingent upon the closing of such acquisition, NBC shall have the right to
terminate this Agreement with respect to KNTV(TV) and grant an NBC affiliation
to the New Outlet. In the event of such a termination and grant, effective upon
the commencement of the New Outlet's NBC affiliation, NBC shall pay Granite (x)
$14,500,000 and (y) any Unearned Affiliation Payment. Upon its receipt of such
amount, Granite shall be relieved of its remaining obligations hereunder with
respect to KNTV(TV) and under Section 4(a) hereof, provided that Granite shall
have paid NBC all amounts past due and all amounts accrued but not yet otherwise
payable pursuant to Section 4. NBC' s termination rights under this Section 21
shall not be triggered by NBC' s acquisition, directly or indirectly, of an
attributable interest in broadcast television station presently known as KKPX-TV
(San Jose, California).

         22. NOTICES/APT. Notices hereunder shall be in writing and shall be
given (a) by personal delivery or overnight courier service: addressed to
Granite at the addresses set forth on the first page of this Agreement; to any
affected Station at the respective addresses set forth on Schedule I; and to NBC
at the address set forth on the first page of this Agreement, Attention: Senior
Vice President, Affiliate Relations; or at such other address or addresses as
may be specified in writing by the party to whom the notice is given or (b) if
such notice relates to the scheduling, substitution, withdrawal, preemption or
other aspect of programming hereunder, by posting to APT or by such other means
as NBC may specify to Stations from time to time. Notices shall be deemed given
when personally delivered and on the next business day following dispatch by
overnight courier service. NBC and each Station agree to monitor APT on at least
a daily basis and to update APT as promptly as practicable and in any event so
as to comply with the notice periods provided herein.

         23. ENTIRE AGREEMENT/AMENDMENTS. The foregoing constitutes the entire
agreement among Granite, Stations and NBC with respect to the affiliation of
Stations with NBC, all prior understandings being merged herein, except for the
most recent amendments to the prior affiliation agreements of KBJR-TV, KSEE and
WEEK-TV with respect to network non-duplication protection under FCC Rules
Section 76.92, and except for the Inventory Management Plan. This Agreement may
not be changed, amended, modified, renewed, extended or discharged, except as
specifically provided herein or by an agreement in writing signed by the parties
hereto; provided, that an amendment which affects only a particular Station may
be executed only by NBC and such Station.

         24. CONFIDENTIALITY. The parties agree to use their best efforts to
preserve the confidentiality of this Agreement and of the terms and conditions
set forth herein, and the exhibits annexed hereto, to the fullest extent
permissible by law.

         25. APPLICABLE LAW. The obligations of Stations and NBC under this
Agreement are subject to all applicable federal, state, and local laws, rules
and regulations (including, but not limited to, the Communications Act of 1934,
as amended, and the rules and regulations of the

                                       15
<PAGE>

FCC), and this Agreement and all matters or issues collateral thereto shall be
governed by the law of the State of New York applicable to contracts negotiated,
executed and performed entirely therein (without regard to principles of
conflicts of laws).

         26. MISCELLANEOUS. If any provision of this Agreement or the
application of such provision to any circumstance is held invalid, the remainder
of this Agreement, or the application of such provision to circumstances other
than those as to which it is held invalid, will not be affected thereby. A
waiver by Granite, a Station or NBC of a breach of any provision of this
Agreement shall not be deemed to constitute a waiver of any preceding or
subsequent breach of the same provision or any other provision hereof This
Agreement may be signed in any number of counterparts with the same effect as if
the signature to each such counterpart were upon the same instrument.

         If the foregoing is in accordance with your understanding, please
indicate your acceptance on the copy of this Agreement enclosed for that purpose
and return that copy to NBC.

                                                     Very truly yours,

                                                     NBC TELEVISION NETWORK

                                                     By: /s/ Randel A. Falco
                                                         -------------------

         AGREED:

         GRANITE BROADCASTING CORPORATION

         By: /s/ W. Don Cornwell
             -------------------

         KNTV(TV):

              KNTV LICENSE, INC.
                Licensee

              By: /s/ W. Don Cornwell
                  -------------------

              KNTV, INC.

              By: /s/ W. Don Cornwell
                  -------------------

                                       16
<PAGE>

         KSEE(TV):

              KSEE LICENSE, INC.

                Licensee

              By: /s/ W. Don Cornwell
                  -------------------

              SAN JOAQUIN COMMUNICATIONS CORPORATION

              By: /s/ W. Don Cornwell
                  -------------------

         KBJR-TV:

              KBJR LICENSE, INC.
                Licensee

              By: /s/ W. Don Cornwell
                  -------------------

              RJR COMMUNICATIONS, INC.

              By: /s/ W. Don Cornwell
                  -------------------

         WEEK-TV:

              WEEK-TV LICENSE, INC.
                Licensee

              By: /s/ W. Don Cornwell
                  -------------------

              WEEK, INC.

              By: /s/ W. Don Cornwell
                  -------------------

                                       17
<PAGE>

                                   SCHEDULE I

                                     PARTIES

              KNTV(TV):                KNTV, Inc.
                                       KNTV License, Inc.
                                       c/o KNTV
                                       645 Park Avenue
                                       San Jose, California 95110

              KSEE:                    San Joaquin Communications Corporations
                                       KSEE License, Inc.
                                       c/o KSEE(TV)
                                       5035 E. McKinley Avenue
                                       Fresno, California 93727-1954

              KBJR-TV:                 RJR Communications, Inc.
                                       KBJR License, Inc.
                                       c/o KBJR-TV
                                       246 Lake Avenue South
                                       Duluth, Minnesota  55802

              WEEK-TV:                 WEEK, INC.
                                       WEEK-TV License, Inc.
                                       c/o WEEK-TV
                                       2907 Springfield Road
                                       E. Peoria, Illinois 61611

                                       18
<PAGE>

                                    EXHIBIT A

                                     FORM OF

                       DISTRIBUTION CONTRIBUTION AGREEMENT

         This agreement (the "AGREEMENT") between the NBC Television Network
("NBC") and Granite Broadcasting Corporation ("GRANITE"), is dated as of January
1, 2000.

         WHEREAS, NBC and Granite have entered into an Affiliation Agreement,
dated as of the date hereof (the "AFFILIATION AGREEMENT"), with respect to the
affiliation with NBC of the Granite-owned television stations identified therein
(collectively, the "STATIONS");

         WHEREAS, in connection with Stations' affiliation with NBC, Stations
will broadcast programming provided by NBC;

         WHEREAS, NBC provides such programming to Stations via various means at
substantial cost and expense to NBC (as more fully described below, the "NBC
DISTRIBUTION COSTS");

         WHEREAS, pursuant to the Affiliation Agreement, Granite, on behalf of
the Stations, agreed to assume the obligations set forth in this Agreement in
order to pay a portion of the NBC Distribution Costs;

         NOW THEREFORE, in consideration of the mutual premises set forth
herein, the parties hereto agree as follows:

         1. NBC DISTRIBUTION COSTS. The NBC Distribution Costs consist of the
operational, facilities and technical costs, including upgrades, related to
processing and distributing Network programs, promotions, advertisements, news
feeds and other programming and services to the NBC affiliated television
stations.

         2.       DISTRIBUTION CONTRIBUTION.

                  a) Granite hereby agrees to pay NBC its pro rata share
         (calculated based on the Stations' aggregate Nielsen DMA percentages)
         of the NBC Distribution Costs (the "GRANITE PAYMENT") annually
         throughout the term of this Agreement. The Granite Payment shall be
         made by wire transfer or such other means as NBC may approve, in two
         equal bi-annual installments payable each January 15 and June 15.

                  b) Granite hereby acknowledges that from year to year the NBC
         Distribution Costs may increase, and that accordingly the Granite
         Payment shall increase, in accordance with increases demonstrated in
         the annual review of NBC Distribution Costs customarily commissioned by
         the NBC Affiliate Board. In the event that for any given year during
         the term the Granite Payment exceeds the actual NBC Distribution Costs,
         then NBC shall apply the excess to the NBC Strategic Technical
         Development Fund (a/k/a the Overcollection Fund (the "FUND")).

                                       19
<PAGE>

         3. THE FUND. Granite hereby agrees to pay its pro rata share
(calculated based on the Stations' aggregate Nielsen DMA percentages) of
$18,000,000 (which payment shall be deducted from the Fund) out of a total of
$54,000,000 of capital costs relating to the "Genesis" digital broadcast
facilities development project, on the schedule presented to the NBC Affiliate
Board and attached hereto as Exhibit A.

         4. TERM. This Agreement shall commence as of January 1, 2000 with
respect to KSEE, KBJR-TV and WEEK-TV, and as of January 1, 2002 with respect to
KNTV(TV), and shall remain in full force and effect, with respect to Granite and
each Station, for as long as the Affiliation Agreement (including any renewal
thereof) remains in effect. Notwithstanding the foregoing, this Agreement shall
terminate with respect to any Station in the event that such Station ceases to
be affiliated with NBC.

         5. BINDING AGREEMENT. This Agreement shall be binding upon NBC and
Granite and each of the Stations upon execution hereof by each of NBC and
Granite.

         6. MISCELLANEOUS. This Agreement constitutes the entire agreement and
understanding of the parties relating to the subject matter hereof and
supersedes all prior and contemporaneous agreements, negotiations, and
understandings between the parties, both oral and written, relating thereto. No
waiver or amendment of any provision of this Agreement shall be effective unless
in writing and signed by both parties. The terms of this Agreement shall apply
to parties hereto and any of their successors or assigns; PROVIDED, HOWEVER,
that this Agreement may not be transferred or assigned by Granite without the
prior written consent of NBC. This Agreement may be executed in counterparts,
each of which when executed shall be deemed to be an original but all of which
taken together shall constitute one and the same agreement. Notices given
pursuant to this Agreement shall be deemed given upon dispatch if given via
nationally recognized overnight courier or confirmed facsimile, to the address
of the respective party as set forth in the Affiliation Agreement.

         7. GOVERNING LAW AND JURISDICTION. This Agreement shall be governed by
and construed under the laws of the State of New York applicable to contracts
fully performed in New York, without regard to New York conflicts law. The
parties hereto irrevocably waive any and all rights to trial by jury in any
proceeding arising out of or relating to this Agreement.

         IN WITNESS HEREOF, the parties hereto have caused this Agreement to be
executed by their duly authorized representatives as set forth below.

NBC TELEVISION NETWORK

By:________________________
     Name:
     Title:

                                       20
<PAGE>

GRANITE BROADCASTING CORPORATION

By:________________________
     Name:
     Title:

                                       21<PAGE>

                                                                   Exhibit 10.48

                                                                  EXECUTION COPY

                             SUPPLEMENTAL AGREEMENT

                                 By and Between

                        GRANITE BROADCASTING CORPORATION

                                       AND

                       NATIONAL BROADCASTING COMPANY, INC.

                            Dated as of May 31, 2000

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                               Page
<S>                                                                                                            <C>
ARTICLE I.   Definitions..........................................................................................1

         Section 1.1 DEFINITIONS..................................................................................1

ARTICLE II.   The Warrants........................................................................................7

         Section 2.1 AUTHORIZATION; AGREEMENT TO SELL AND PURCHASE................................................7

         Section 2.2 CLOSING......................................................................................7

ARTICLE III.   Representations and Warranties.....................................................................7

         Section 3.1 REPRESENTATIONS AND WARRANTIES OF THE COMPANY................................................7

         Section 3.2 REPRESENTATIONS AND WARRANTIES OF NBC.......................................................11

ARTICLE IV.   Other Agreements...................................................................................13

         Section 4.1 GOVERNMENT FILINGS..........................................................................13

         Section 4.2 RESERVATION OF COMMON STOCK.................................................................13

         Section 4.3 NOTIFICATION OF CERTAIN MATTERS.............................................................13

         Section 4.4 FURTHER ASSURANCES..........................................................................13

ARTICLE V.   Affirmative and Negative Covenants..................................................................13

         Section 5.1 MAINTENANCE OF EXISTENCE AND PROPERTY; FCC LICENSES.........................................13

         Section 5.2 COMPLIANCE WITH LAWS, ETC...................................................................14

         Section 5.3 NO RESTRICTIVE COVENANTS....................................................................14

         Section 5.4 NEGATIVE PLEDGE ON KNTV ASSETS..............................................................14

ARTICLE VI.   Deliveries at Closing..............................................................................15

         Section 6.1 DELIVERIES AT CLOSING.......................................................................15

ARTICLE VII.   Events of Default.................................................................................15
</TABLE>

                                      -i-
<PAGE>

<TABLE>
<S>                                                                                                            <C>
         Section 7.1 EVENTS OF DEFAULT...........................................................................15

ARTICLE VIII.   Miscellaneous....................................................................................16

         Section 8.1 NOTICES.....................................................................................16

         Section 8.2 ENTIRE AGREEMENT; AMENDMENT.................................................................17

         Section 8.3 COUNTERPARTS................................................................................17

         Section 8.4 GOVERNING LAW; JURISDICTION; WAIVER OF JURY TRIAL...........................................17

         Section 8.5 FEES AND EXPENSES...........................................................................17

         Section 8.6 SUCCESSORS AND ASSIGNS; THIRD PARTY BENEFICIARIES...........................................18

         Section 8.7 ARBITRATION.................................................................................18

         Section 8.8 REMEDIES....................................................................................18

         Section 8.9 HEADINGS, CAPTIONS AND TABLE OF CONTENTS....................................................19
</TABLE>

                                      -ii-
<PAGE>

                                    SCHEDULE

3.1(b)            - Corporate Power, Authorization, Enforceable Obligations

                                    EXHIBITS

A        -     Form of Affiliation Agreement
B        -     Form of Series A Warrant
C        -     Form of Series B Warrant
D        -     Form of Registration Rights Agreement
E        -     Form of Opinion of Company Counsel

                                     -iii-

<PAGE>

                                                                  EXECUTION COPY

                             SUPPLEMENTAL AGREEMENT

                  SUPPLEMENTAL AGREEMENT, dated as of May 31, 2000 (this
"AGREEMENT"), by and between GRANITE BROADCASTING CORPORATION, a Delaware
corporation (the "COMPANY"), and NATIONAL BROADCASTING COMPANY, INC., a Delaware
corporation ("NBC"). Capitalized terms not otherwise defined where used shall
have the meanings ascribed thereto in Article I.

                  WHEREAS, subject to the terms and conditions of this
Agreement, NBC has agreed to enter into the Affiliation Agreement (as defined
below) and the Company has agreed to grant NBC Warrants (as defined below) as
consideration in part therefor; and

                  WHEREAS, the Company and NBC desire to set forth certain
agreements herein.

                  NOW THEREFORE, in consideration of the premises and the
representations, warranties and agreements herein contained and intending to be
legally bound hereby, the parties hereby agree as follows:

                                   ARTICLE I.

                                   DEFINITIONS

                  Section 1.1 DEFINITIONS. As used in this Agreement, the
following terms shall have the meanings set forth below:

                  "AFFILIATE" shall mean, with respect to any Person, any other
         Person that controls, is controlled by, or is under common control
         with, such Person, including the executive officers and directors of
         such Person. As used in this definition, "control" (including its
         correlative meanings, "controlled by" and "under common control with")
         shall mean the possession, directly or indirectly, of power to direct
         or cause the direction of management or policies (whether through
         ownership of securities or partnership or other ownership interests, by
         contract or otherwise).

                  "AFFILIATION AGREEMENT" shall mean the Affiliation Agreement,
         dated as of May 31, 2000, by and among the Company, KNTV License Sub,
         San Joaquin Communications, Corp, RJR Communications, Inc., WEEK
         License, Inc. and NBC (as amended, restated or otherwise modified from
         time to time) substantially in the form of Exhibit A.

                  "AFFILIATION DOCUMENTS" shall mean this Agreement, the
         Affiliation Agreement, the Warrants and the Registration Rights
         Agreement.

<PAGE>

                                                          Supplemental Agreement

                  "AFFILIATION SUBSIDIARY" shall mean each member of the KNTV
         Group and each Company Subsidiary relating to KBJR Duluth, KSEE Fresno,
         WEEK Peoria or any other Company television station property or
         business that has an affiliation with the NBC TV Network.

                  "AGREEMENT" shall have the meaning set forth in the preamble.

                  "BANKRUPTCY LAW" shall mean Title 11 of the United States Code
         or any similar Federal or state law for the relief of debtors.

                  "BUSINESS DAY" shall mean any day, other than a Saturday,
         Sunday or a day on which commercial banks in New York, New York are
         authorized or obligated by law or executive order to close.

                  "CHANGE OF CONTROL" shall mean (a) the failure of the
         Permitted Holders to own collectively, directly, beneficially and of
         record, more than 50% of the issued and outstanding voting stock of the
         Company or (b) the occurrence of a "change of control" under and as
         defined in any indenture or agreement in respect of Company
         indebtedness as in effect from time to time.

                  "CLOSING" and "CLOSING DATE" shall have the meanings set forth
         in Section 2.2(a).

                  "COMMON STOCK" shall mean the Common Stock (Non-Voting), par
         value $0.01 per share, and any other class of common stock of the
         Company hereafter created and any securities of the Company into which
         such Common Stock may be reclassified, exchanged or converted.

                  "COMMUNICATIONS ACT" shall mean the Communications Act of
         1934, as amended (including, without limitation, the Cable
         Communications Policy Act of 1984 and the Cable Television Consumer
         Protection and Competition Act of 1992) and all rules and regulations
         of the FCC, in each case as from time to time in effect.

                  "COMPANY" shall have the meaning set forth in the preamble
         hereto.

                  "COMPANY SALE" shall mean any transaction that (i) involves a
         sale by the Company of all or substantially all of its assets to
         another Person, (ii) effects any merger, consolidation or business
         combination of the Company with another Person where such other Person
         shall be the surviving entity and that results in a Change of Control
         of the Company or (iii) results in a Change of Control of the Company.

                  "COMPANY STATION" shall mean each full service television
         station owned and operated by the Company or any Company Subsidiary.

                  "COMPANY SUBSIDIARY" shall mean any Subsidiary of the Company.

<PAGE>

                                                          Supplemental Agreement

                  "CONTROL" (including the terms "CONTROLLED BY" and "UNDER
         COMMON CONTROL WITH"), with respect to the relationship between or
         among two or more Persons, shall mean the possession, directly or
         indirectly, of the power to direct or cause the direction of the
         affairs or management of a Person, whether through the ownership of
         voting securities, as trustee or executor, by contract or otherwise.

                  "CUSTODIAN" shall mean any receiver, trustee, assignee,
         liquidator or similar official under any Bankruptcy Law.

                  "DGCL" shall mean the Delaware General Corporation Law.

                  "ENVIRONMENTAL LAWS" shall mean all applicable federal, state,
         local and foreign laws, statutes, ordinances, codes, rules, standards
         and regulations, now or hereafter in effect, and in each case as
         amended or supplemented from time to time, and any applicable judicial
         or administrative interpretation thereof, including any applicable
         judicial or administrative order, consent decree, order or judgment,
         imposing liability or standards of conduct for or relating to the
         regulation and protection of human health, safety, the environment and
         natural resources (including ambient air, surface water, groundwater,
         wetlands, land surface or subsurface strata, wildlife, aquatic species
         and vegetation). Environmental Laws include the Comprehensive
         Environmental Response, Compensation, and Liability Act of 1980 (42
         U.S.C. Sections 9601 ET SEQ.) ("CERCLA"); the Hazardous Materials
         Transportation Authorization Act of 1994 (49 U.S.C. Sections 5101 ET
         SEQ.); the Federal Insecticide, Fungicide, and Rodenticide Act (7
         U.S.C. Sections 136 ET SEQ.); the Solid Waste Disposal Act (42 U.S.C.
         Sections 6901 ET SEQ.); the Toxic Substance Control Act (15 U.S.C.
         Sections 2601 ET SEQ.); the Clean Air Act (42 U.S.C. Sections 7401 ET
         SEQ.); the Federal Water Pollution Control Act (33 U.S.C. Sections 1251
         ET SEQ.); the Occupational Safety and Health Act (29 U.S.C. Sections
         651 ET SEQ.); and the Safe Drinking Water Act (42 U.S.C. Sections
         300(f) ET SEQ.), each as from time to time amended, and any and all
         regulations promulgated thereunder, and all analogous state, local and
         foreign counterparts or equivalents and any transfer of ownership
         notification or approval statutes.

                  "EVENT OF DEFAULT" shall have the meaning set forth in
         Article VII.

                  "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934,
         as amended, and the rules and regulations thereunder.

                  "EXISTING PREFERRED STOCK" shall have the meaning set forth in
         Section 3.1(c).

                  "FAIR MARKET VALUE" shall have the meaning set forth in
         Section 4(e) of the Affiliation Agreement.

                  "FCC" shall mean the Federal Communications Commission and any
         successor Governmental Entity performing functions similar to those
         performed by the Federal Communications Commission on the date hereof.

<PAGE>

                                                          Supplemental Agreement

                  "FCC AUTHORIZATION" shall mean each FCC license, permit or
         authorization that is material to the operation of a Company Station.

                  "FINANCIAL STATEMENTS" shall have the meaning set forth in
         Section 3.1(e).

                  "GAAP" shall mean generally accepted accounting principles in
         the United States of America in effect from time to time.

                  "GOVERNMENTAL ENTITY" shall mean any nation or government, any
         state or other political subdivision thereof, any entity exercising
         executive, legislative, judicial, regulatory or administrative
         functions of or pertaining to government and any self-regulating
         organization, securities exchange or securities trading system,
         including, without limitation, the FCC.

                  "HSR ACT" shall mean the Hart-Scott-Rodino Antitrust
         Improvements Act of 1976, as amended.

                  "KNTV" shall mean KNTV, Inc., a Virginia corporation.

                  "KNTV ASSETS" shall mean the stock or assets of KNTV, KNTV
         License Sub and the KNTV Station whether held directly or indirectly by
         the Company.

                  "KNTV GROUP" shall mean KNTV, KNTV License Sub or any other
         Company Subsidiary that owns a material portion of the assets of, or
         any FCC license of, the KNTV Station.

                  "KNTV LICENSE SUB" shall mean the KNTV License, Inc., a
         Delaware corporation.

                  "KNTV STATION" shall mean the television broadcasting station,
         KNTV(TV), together with its licensee, KNTV License Sub.

                  "KNTV STATION TRANSFER" shall mean any (i) sale, lease,
         assignment, change of control, disposition (other than the non-renewal
         of non-material FCC licenses) or transfer or (ii) other reorganization
         or recapitalization involving a change of control or (iii) Company
         Sale, in each case, directly or indirectly, in part or in whole, of (x)
         any of the stock of KNTV, KNTV License Sub or any other Company
         Subsidiary that owns a material portion of the assets of, or any FCC
         license of, the KNTV Station or (y) a material portion of the assets
         of, or any FCC license of, KNTV, KNTV License Sub or the KNTV Station.

                  "LIEN" shall mean any mortgage, pledge, hypothecation,
         assignment, encumbrance, lien (statutory or other) or security
         agreement of any kind or nature whatsoever (including, without
         limitation, any conditional sale or other title retention

<PAGE>

                                                          Supplemental Agreement

         agreement or any financing lease having substantially the same effect
         as any of the foregoing).

                  "MATERIAL ADVERSE EFFECT" shall mean a material adverse effect
         on (i) with respect to the Company, the business, assets, operations or
         financial or other condition of the Company and the Company
         Subsidiaries taken as a whole or (ii) with respect to any party to this
         Agreement or any Affiliation Document, the ability of such party to
         perform its obligations under this Agreement or any Affiliation
         Document to which it is a party.

                  "MATERIAL AGREEMENT" shall mean any contract, lease,
         restriction, agreement, instrument or commitment to which the Company
         or any Affiliation Subsidiary is a party or by which its properties are
         bound (i) which provides for the Company and the Affiliation
         Subsidiaries to receive or commits the Company or any Affiliation
         Subsidiary to expend, $1,000,000 (including cash or the fair market
         value of non-cash assets) or more in the aggregate in any 12-month
         period or $2,000,000 or more in the aggregate over any period or (ii)
         which if breached by any party thereto would result in liability or
         loss to the Company and the Affiliation Subsidiaries of $1,000,000 or
         more in the aggregate.

                  "NASDAQ" shall mean the National Association of Securities
         Dealers Automated Quotation System.

                  "NBC" shall have the meaning set forth in the preamble hereto.

                  "PARENT" shall mean General Electric Company, a Delaware
         corporation.

                  "PERMITS" shall have the meaning set forth in Section 3.1(a).

                  "PERMITTED HOLDER" shall mean (i) W. Don Cornwell and Stuart
         J. Beck, (ii) the members of the immediate family of either of the
         persons referred to in clause (i) above, (iii) any trust or other
         Person created for the benefit of the persons described in clause (i)
         or (ii) above or any of their estates or (iv) any corporation or other
         Person that is controlled by any person described in clause (i), (ii)
         or (iii) above.

                  "PERMITTED LIENS" shall mean (i) mechanics', carriers',
         repairmen's or other like Liens arising or incurred in the ordinary
         course of business, (ii) Liens arising under original purchase price
         conditioned sales contracts and equipment leases with third parties
         entered into in the ordinary course of business consistent with past
         practice, (iii) statutory Liens for Taxes not yet due and payable or
         that the Company is contesting in good faith, (iv) Liens securing the
         indebtedness under, or that would constitute "Permitted Encumbrances"
         pursuant to, the Secured Credit Agreement and other indebtedness
         included as "long-term debt" on the December 31, 1999 Financial
         Statements, (v) Liens in favor of NBC and (vi) other encumbrances or
         restrictions or imperfections of title which do not materially impair
         the continued use, operation or transferability of the assets to which
         they relate.

<PAGE>

                                                          Supplemental Agreement

                  "PERSON" shall mean an individual, corporation, unincorporated
         association, partnership, group (as defined in Section 13(d)(3) of the
         Exchange Act), trust, joint stock company, joint venture, business
         trust or unincorporated organization, limited liability company, any
         Governmental Entity or any other entity of whatever nature.

                  "REGISTRATION RIGHTS AGREEMENT" shall mean the registration
         rights agreement to be executed by NBC and the Company at the Closing,
         which shall be substantially in the form attached as Exhibit D hereto.

                  "SEC" shall mean the United States Securities and Exchange
         Commission.

                  "SEC DOCUMENTS" shall have the meaning set forth in
         Section 3.1(d).

                  "SECURED CREDIT AGREEMENT" shall mean the Granite Broadcasting
         Corporation Fourth Amended and Restated Secured Credit Agreement, dated
         as of June 10, 1998, among the Company and the financial institutions
         named therein, as such agreement may be amended, modified, renewed or
         replaced from time to time.

                  "SECURITIES ACT" shall mean the Securities Act of 1933, as
         amended, and the rules and regulations thereunder.

                  "SUBSIDIARY" shall mean, as to any Person, a corporation,
         partnership, limited liability company, joint venture or other entity
         of which shares of stock or other ownership interests having ordinary
         voting power (other than stock or such other ownership interests having
         such power only by reason of the happening of a contingency) to elect a
         majority of the board of directors or other managers of such
         corporation, partnership or other entity are at the time owned, or the
         management of which is otherwise controlled, directly or indirectly
         through one or more intermediaries, or both, by such Person.

                  "TAX" or, collectively, "TAXES" shall mean any and all
         federal, state, local and foreign taxes, assessments and other
         governmental charges, duties, impositions and liabilities, including
         taxes based upon or measured by gross receipts, income, profits, sales,
         use and occupation, and value added, ad valorem, transfer, gains,
         franchise, withholding, payroll, recapture, employment, excise,
         unemployment insurance, social security, business license, occupation,
         business organization, stamp, environmental and property taxes,
         together with all interest, penalties and additions imposed with
         respect to such amounts. For purposes of this Agreement, "Taxes" also
         includes any obligations under any agreements or arrangements with any
         other person with respect to Taxes of such other person (including
         pursuant to Treas. Reg. Section 1.1502-6 or comparable provisions of
         state, local or foreign tax law) and including any liability for taxes
         of any predecessor entity.

                  "UNDERLYING SHARES" shall mean the shares of Common Stock
         issuable upon exercise of the Warrants, as such shares may be subject
         to adjustment from time to time and any securities into which such
         shares may be reclassified, exchanged or converted.

<PAGE>

                                                          Supplemental Agreement

                  "VOTING COMMON STOCK" shall mean the shares of Class A Voting
         Common Stock, par value $0.01 per share, of the Company.

                  "WARRANT A" shall have the meaning set forth in
         Section 2.1(a).

                  "WARRANT B" shall have the meaning set forth in
         Section 2.1 (a).

                  "WARRANTS" shall mean Warrant A and Warrant B.

                                  ARTICLE II.

                                  THE WARRANTS

                  Section 2.1 AUTHORIZATION; AGREEMENT TO SELL AND PURCHASE. (a)
Upon and subject to the terms and conditions set forth in this Agreement, the
Company has authorized the issuance to NBC of (i) a warrant to purchase up to
2,500,000 shares of Common Stock ("WARRANT A") substantially in the form of
Exhibit B attached hereto and (ii) a warrant to purchase up to 2,000,000 shares
of Common Stock ("WARRANT B") substantially in the form of Exhibit C attached
hereto.

                  (a) Upon and subject to the terms and conditions of this
Agreement, and in reliance upon the representations and warranties hereinafter
set forth, the Company agrees to issue and deliver the Warrants to NBC (or its
nominee that is a wholly owned subsidiary of Parent organized in the United
States) at the Closing provided for in Section 2.2 hereof.

                  Section 2.2 CLOSING. (a) The delivery of the Warrants pursuant
to Section 2.1 (the "CLOSING") shall take place at the offices of Simpson
Thacher & Bartlett, 425 Lexington Avenue, New York, New York, simultaneously
with the execution and delivery of this Agreement (the "CLOSING DATE"), or at
such other time and place as may be mutually agreed upon by NBC and the Company.

                  (a) At the Closing (i) the Company shall deliver to NBC the
Warrants in accordance with the provisions of Section 2.1, registered in the
name of NBC or its nominee that is a wholly owned subsidiary of Parent organized
in the United States (subject to the provisions herein and in the other
Affiliation Documents) and in such denominations as NBC shall specify not less
than three Business Days prior to the Closing Date and (ii) each party shall
execute and deliver such other instruments or documents set forth in Article VII
hereof.

                                  ARTICLE III.

                         REPRESENTATIONS AND WARRANTIES

                  Section 3.1 REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The
Company hereby represents and warrants to NBC as follows:

<PAGE>
                                                          Supplemental Agreement

                  (a) CORPORATE EXISTENCE; COMPLIANCE WITH LAW. The Company and
each Affiliation Subsidiary (i) is a corporation duly organized, validly
existing and in good standing under the laws of its jurisdiction of
incorporation; (ii) is duly qualified to conduct business and is in good
standing in each jurisdiction where its ownership or lease of property or the
conduct of its business requires such qualification, except where the failure to
be so qualified, individually or in the aggregate, would not have a Material
Adverse Effect; (iii) has the requisite corporate power and authority to own,
pledge, mortgage or otherwise encumber and operate its properties, to lease the
property it operates under lease and to conduct its business as now, heretofore
and proposed to be conducted; (iv) has all licenses, permits, orders, consents,
approvals, registrations, authorizations or qualifications from or by, and has
made all filings with, and has given all notices to, all Governmental Entities
having jurisdiction, to the extent required for such ownership, operation and
conduct (collectively, the "PERMITS"), except where the failure to do so,
individually or in the aggregate, would not have a Material Adverse Effect; (v)
is in compliance with its charter and by-laws; and (vi) is in compliance with
all applicable provisions of law (including, without limitation, the
Communications Act) and the Permits, except where the failure to comply,
individually or in the aggregate, could not reasonably be expected to have a
Material Adverse Effect.

                  (b) CORPORATE POWER, AUTHORIZATION, ENFORCEABLE OBLIGATIONS.
Except as set forth in SCHEDULE 3.1(B), the execution, delivery and performance
by the Company of this Agreement and the other Affiliation Documents to which it
is a party and its obligations hereunder and thereunder, and by each Affiliation
Subsidiary of the other Affiliation Documents to which it is a party and its
obligations thereunder, (i) are within the Company's or such Affiliation
Subsidiary's corporate power, as the case may be; (ii) have been duly authorized
by all necessary or proper corporate and shareholder action; (iii) do not
contravene any provision of the Company's or such Affiliation Subsidiary's
charter or bylaws; (iv) do not violate any law or regulation, or any order or
decree of any court or Governmental Entity applicable to it; (v) do not conflict
with or result in the breach or termination of, constitute a default under or
accelerate or permit the acceleration of any performance required by, any
material indenture, mortgage or deed of trust or any Material Agreement to which
the Company or such Affiliation Subsidiary is a party or by which the Company or
any Affiliation Subsidiary or any of its property is bound; (vi) do not result
in the creation or imposition of any material Lien upon any of the property of
the Company or any Affiliation Subsidiary except as provided in the Affiliation
Agreement; and (vii) do not require the consent or approval of any Governmental
Entity or any other Person, except (A) the filing of all notices, reports and
other documents required by, and the expiration of all waiting periods under,
the HSR Act and the rules and regulations promulgated by the FCC, (B) such
filings as may be required under the blue sky laws of the various states and (C)
such consents or approvals which are immaterial to the business, operations or
financial position of the Company and the Affiliation Subsidiaries taken as a
whole. This Agreement and each of the other Affiliation Documents to which the
Company or such Affiliation Subsidiary is a party is duly executed and delivered
by the Company or such Affiliation Subsidiary, respectively, and constitutes a
legal, valid and binding obligation of the Company or such Affiliation
Subsidiary, as the case may be, enforceable against it in accordance with its
terms, except as may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws relating to or limiting creditor's rights generally
and subject to the availability of equitable remedies.

<PAGE>

                                                          Supplemental Agreement

                  (c) CAPITALIZATION. (i) As of the date hereof, the authorized
capital stock of the Company consists of (A) 40,000,000 shares of Common Stock
of which 18,259,646 shares of Common Stock are issued and outstanding and
1,000,000 shares of Voting Common Stock of which 178,500 shares are issued and
outstanding and (B) (1) 3,000,000 shares of Cumulative Convertible Exchangeable
preferred stock of which no shares are issued and outstanding and (2) 2,376,000
shares of Preferred Stock of which 400,000 have been designated as 12 3/4%
Cumulative Exchangeable Preferred Stock of which 222,030 shares are issued and
outstanding (collectively, with any additional shares of preferred stock that
may be issued as dividends thereon, the "EXISTING PREFERRED STOCK"). As of the
date hereof, 30,000 shares of capital stock are held in treasury, and an
aggregate of 9,798,628 shares of Common Stock have been reserved in respect of
Company compensation and incentive plans. All of the issued and outstanding
shares of the Company's capital stock have been duly and validly authorized and
issued and are fully paid and nonassessable and not subject to preemptive
rights.

                           (i) The Underlying Shares have been reserved for
         issuance and, when issued upon exercise of the Warrants in accordance
         with the terms thereof, will be duly and validly authorized and issued,
         fully paid and nonassessable and not subject to preemptive rights, and
         the owner of such shares will acquire good title thereto, free and
         clear of all Liens (other than any Lien created by such owner).

                           (ii) Other than (A) the requirement to issue the
         Underlying Shares and (B) the shares or other securities referred to in
         subsection 3.1(c), (1) no equity securities of the Company are required
         to be issued by reason of any outstanding options, warrants, rights to
         subscribe to, calls, preemptive rights, or commitments of any character
         whatsoever, (2) there are outstanding no securities or rights
         convertible into or exchangeable for shares of any capital stock of the
         Company and (3) there are no outstanding contracts, commitments,
         understandings or arrangements by which the Company is or will be bound
         to issue additional shares of its capital stock or securities or rights
         convertible into or exchangeable for shares of its capital stock or
         options, warrants or rights to purchase or acquire any additional
         shares of its capital stock. Except required by the terms of the
         Existing Preferred Stock, the Company is not subject to any obligation
         (contingent or otherwise) to repurchase, redeem or otherwise acquire or
         retire any of its capital stock.

                           (iii) The Company is not a party to, and the Company
         has no knowledge of any, voting trusts, proxies or other agreements or
         understandings with respect to the voting of any capital stock of the
         Company.

                           (iv) The Company has not granted or agreed to grant
         any rights relating to the registration of its Common Stock or any
         other securities convertible into or exchangeable or exercisable for
         Common Stock (other than with respect to rights offerings or option or
         other employee, directors or consultant benefit plans) under applicable
         federal and state securities laws, including piggyback rights.

<PAGE>

                                                          Supplemental Agreement

                           (v) The consummation of the transactions contemplated
         by this Agreement will not trigger the anti-dilution provisions or
         other price adjustment mechanisms of any outstanding subscriptions,
         options, warrants, calls, contracts, preemptive rights, demands,
         commitments, conversion rights or other agreements or arrangements of
         any character or nature whatsoever under which the Company is obligated
         to issue or acquire its capital stock.

                  (d) SEC FILINGS. The Company has filed a true and complete
copy of each report, schedule, registration statement and definitive proxy
statement required to be filed by the Company with the SEC since January 1, 1997
(the "SEC DOCUMENTS"). As of their respective dates, the SEC Documents, after
giving effect to any amendments and supplements thereto and any subsequently
filed SEC Documents filed prior to the date hereof, complied in all material
respects with the requirements of the Securities Act or the Exchange Act, as the
case may be, applicable to such SEC Documents. None of the SEC Documents when
filed, after giving effect to any amendments and supplements thereto filed prior
to the date hereof, contained any untrue statement of a material fact or omitted
to state any material fact required to be stated therein or necessary in order
to make the statements therein, in light of the circumstances under which they
were made, not misleading.

                  (e) FINANCIAL STATEMENTS; NO MATERIAL ADVERSE CHANGE. (i) The
financial statements of the Company included in its Annual Report on Form 10-K
for the fiscal year ended December 31, 1999, and its Quarterly Reports on Form
10-Q for the fiscal quarters ended March 31, 1999, June 30, 1999 and September
30, 1999, (the "FINANCIAL STATEMENTS") comply as to form in all material
respects with the applicable accounting requirements and with the published
rules and regulations of the SEC with respect thereto, have been prepared in
accordance with GAAP during the periods covered thereby (except as may be
indicated in the notes thereto or, in the case of the unaudited statements, as
permitted by Form 10-Q of the SEC, or for normal year-end adjustments) and
fairly present in all material respects the consolidated financial position of
the Company and its consolidated Subsidiaries as at the dates thereof and the
consolidated results of their operations and cash flows for the periods then
ended. Since December 31, 1999 no event has occurred, which alone or together
with other events, could reasonably be expected to have a Material Adverse
Effect, except as disclosed in the SEC Documents filed after December 31, 1999
and prior to the date hereof and except to the extent resulting from (x) any
changes in general economic conditions in the United States or (y) any changes
affecting the broadcast and cable television industry in general.

                  (f) FCC AND OTHER REGULATORY MATTERS. (i) The Company has no
knowledge of the occurrence of any event or the existence of any circumstance
which, in the reasonable judgment of the Company, is likely to lead to the
revocation or suspension of any FCC Authorization. Each FCC Authorization is in
full force and effect, and each holder thereof is in substantial compliance
therewith, except for such non-compliance that could not reasonably be expected
to have a Material Adverse Effect.

                           (i) The Company and the Company Subsidiaries are in
         all material respects in substantial compliance with the Communications
         Act, including, without limitation, the rules and regulations of the
         FCC relating to the broadcast of television

<PAGE>

                                                          Supplemental Agreement

         signals or the operation of the Company's business, except for such
         filings the failure of which to file or to file on a timely basis, and
         except for such noncompliance, that could not reasonably be expected to
         have a Material Adverse Effect.

                  (g) BROKERS AND FINDERS. Neither the Company nor any
Affiliation Subsidiary has utilized any broker, finder, placement agent or
financial advisor or incurred any liability for any fees or commissions in
connection with any of the transactions contemplated hereby or by the other
Affiliation Documents.

                  (h) ABSENCE OF CERTAIN BUSINESS PRACTICES. None of the
Company, the Affiliation Subsidiaries or any officer, employee or agent thereof,
nor any other Person acting on behalf of the Company or any Affiliation
Subsidiary, has, directly or indirectly, within the past five years given or
agreed to give any gift or similar benefit to any customer, supplier,
governmental employee or other Person or entity who is or may be in a position
to help or hinder the Company (or assist the Company in connection with any
actual or proposed transaction) which (i) subjects any party or any of their
respective Subsidiaries, to any damage or penalty in any civil, criminal or
governmental litigation or proceeding which would have a Material Adverse
Effect, (ii) if not given in the past, could have had a Material Adverse Effect
or (iii) if not continued in the future, could have a Material Adverse Effect.

                  (i) ANTITAKEOVER STATUTES. The board of directors of the
Company has taken all actions necessary under the DGCL, including approving the
transactions contemplated by the Agreement and each of the other Affiliation
Documents to which it is a party, to ensure that Section 203 of the DGCL does
not, and will not, apply to the Investor or any of its affiliates in connection
with the transactions contemplated hereunder and thereunder. No other state
takeover or similar statute or regulation applies to this Agreement, the other
Affiliation Documents or the transactions contemplated hereby and thereby.

                  (j) EXEMPTION FROM REGISTRATION. Assuming the representations
and warranties of NBC set forth in Section 3.2 hereof are true and correct in
all material respects, the grant of the Warrants made pursuant to this Agreement
and the acquisition of the Underlying Shares upon the exercise of the Warrants
will be in compliance with the Securities Act, the rules and regulations of
NASDAQ and any applicable state securities laws and will be exempt from the
registration requirements of the Securities Act and such state securities laws.

                  Section 3.2 REPRESENTATIONS AND WARRANTIES OF NBC. NBC
represents and warrants to the Company as follows:

                  (a) CORPORATE EXISTENCE; COMPLIANCE WITH LAW. NBC (i) is a
corporation duly organized, validly existing and in good standing under the laws
of its jurisdiction of incorporation; (ii) is duly qualified to conduct business
and is in good standing in each other jurisdiction where its ownership or lease
of property or the conduct of its business requires such qualification, except
where the failure to be so qualified, individually or in the aggregate would not
have a Material Adverse Effect; (iii) has the requisite corporate power and
authority and the legal right to own, pledge, mortgage or otherwise encumber and
operate its properties, to lease the property it operates under lease and to
conduct its business as now, heretofore and proposed

<PAGE>
                                                          Supplemental Agreement

to be conducted; (iv) has all licenses, permits, consents or approvals from or
by, and has made all filings with, and has given all notices to, all
Governmental Entities having jurisdiction, to the extent required for such
ownership, operation and conduct, except where the failure to do so,
individually or in the aggregate, would not have a Material Adverse Effect; (v)
is in compliance with its charter and by-laws; and (vi) is in compliance with
all applicable provisions of law (including, without limitation, the
Communications Act), except where the failure to comply, individually or in the
aggregate, could not reasonably be expected to have a Material Adverse Effect.

                  (b) CORPORATE POWER, AUTHORIZATION, ENFORCEABLE OBLIGATIONS.
The execution, delivery and performance by NBC of this Agreement and the other
Affiliation Documents to which it is a party, and its obligations hereunder and
thereunder (i) are within its corporate power; (ii) have been duly authorized by
all necessary or proper corporate and shareholder action; (iii) do not
contravene any provision of its charter or bylaws; (iv) do not violate any law
or regulation, or any order or decree of any court or Governmental Entity
applicable to it; (v) do not conflict with or result in the breach or
termination of, constitute a default under or accelerate or permit the
acceleration of any performance required by, any material indenture, mortgage,
deed of trust, lease, agreement or other instrument to which NBC is a party or
by which NBC or any of its property is bound; (vi) do not result in the creation
or imposition of any material Lien upon any of the property of NBC; and (vii) do
not require the consent or approval of any Governmental Entity or any other
Person, except (A) the filing of all notices, reports and other documents
required by, and the expiration of all waiting periods under, the HSR Act and
the rules and regulations promulgated by the FCC, (B) such filings as may be
required under the blue sky laws of the various states, (C) the filing of the
Certificate of Designation with the Secretary of State of the State of Delaware,
and (D) such consents or approvals which are immaterial to the business,
operations or financial position of NBC. This Agreement is, and on or prior to
the Closing Date, each of the other Affiliation Documents will be, duly executed
and delivered by NBC and this Agreement and each such Affiliation Document shall
then constitute a legal, valid and binding obligation of NBC enforceable against
it in accordance with its terms, except as may be limited by bankruptcy,
insolvency, reorganization, moratorium or similar laws relating to or limiting
creditor's rights generally and subject to the availability of equitable
remedies.

                  (c) SECURITIES ACT. NBC (i) is acquiring the Warrants solely
for its own account for the purpose of investment and not with a view to, or for
resale in connection with, any distribution thereof in violation of the
Securities Act; (ii) has had the opportunity to ask questions of the officers
and directors of, and has had access to financial and other information
concerning, the Company and the Warrants; (iii) has received and reviewed the
SEC Documents, including the Financial Statements; (iv) is an "accredited
investor" as defined in Rule 501(a) under the Securities Act; (iv) has such
knowledge, sophistication and experience in business and financial matters so as
to be capable of evaluating the merits and risks of the investment in the
Company and the Warrants; (v) has so evaluated the merits and risks of such
investment; (vi) is able to bear the economic risk of such investment; and (vii)
is able to afford a complete loss of such investment.

<PAGE>

                                                          Supplemental Agreement

                  (d) BROKERS AND FINDERS. NBC has not utilized any broker,
finder, placement agent or financial advisor or incurred any liability for any
fees or commissions in connection with any of the transactions contemplated
hereby or by the other Affiliation Documents.

                                  ARTICLE IV.

                                OTHER AGREEMENTS

                  Section 4.1 GOVERNMENT FILINGS. Each of the Company and NBC
will make as promptly as practicable, all filings required to be made, if any,
by it under the Communications Act or the rules and regulations related thereto
with regard to the transactions which are subject of this Agreement and the
other Affiliation Documents (including without limitation the exercise of the
Warrants and the holding of the Underlying Shares) and each of them will take
all reasonable steps within its control (including providing information to the
FCC) to obtain any required consents or approvals as promptly as practicable.
The Company and NBC will each provide information and cooperate in all other
respects to assist the other of them in making its filings under the
Communications Act.

                  Section 4.2 RESERVATION OF COMMON STOCK. The Company agrees to
keep reserved for issuance at all times prior to the exercise of the Warrants
the aggregate number of Underlying Shares issuable upon exercise of the
Warrants.

                  Section 4.3 NOTIFICATION OF CERTAIN MATTERS. Each party to
this Agreement shall give prompt notice to the other party of any failure of any
party to comply with or satisfy any covenant or agreement to be complied with or
satisfied by it hereunder; PROVIDED, HOWEVER, that the delivery of any notice
pursuant to this Section 4.3 shall not limit or otherwise affect any remedies
available to the party receiving such notice.

                  Section 4.4 FURTHER ASSURANCES. Each party shall execute and
deliver such additional instruments and other documents and shall take such
further actions as may be necessary or appropriate to effectuate, carry out and
comply with all of the terms of this Agreement and the transactions contemplated
hereby, including, without limitation, making application as soon as practicable
for all consents and approvals required in connection with the transactions
contemplated hereby and diligently pursuing the receipt of such consents and
approvals in good faith.

                                   ARTICLE V.

                       AFFIRMATIVE AND NEGATIVE COVENANTS

                  Section 5.1 MAINTENANCE OF EXISTENCE AND PROPERTY; FCC
LICENSES. The Company shall do or cause to be done all things necessary to
preserve and keep in full force and effect its rights and franchises material to
its business. The Company and each Affiliation Subsidiary shall maintain in good
repair, working order and condition all of the properties that are material to
the Company and the Affiliation Subsidiaries used or useful in the business of
such Person and from time to time will make or cause to be made all appropriate
(as reasonably determined by such Person) repairs, renewals and replacements
thereof. The Company shall, and

<PAGE>

                                                          Supplemental Agreement

shall cause each Affiliation Subsidiary to, use its best efforts to keep in full
force and effect all of its material FCC Licenses and shall provide NBC with a
copy of any (or, in the event of any notice based on knowledge of such Person, a
brief description of such default and the basis of such knowledge) notice from
the FCC of any violation with respect to any material FCC License received by it
(or with respect to which such Person may have any knowledge). Notwithstanding
any provision in this Section 5.1 to the contrary, the foregoing provisions
shall not prevent the Company from taking any actions deemed in good faith by
the Company's board of directors to be in its best interest from a corporate and
strategic point of view to the Company's continuing business operations.

                  Section 5.2 COMPLIANCE WITH LAWS, ETC. The Company shall, and
shall cause each Affiliation Subsidiary to, comply with all (i) federal, state,
local and foreign laws and regulations applicable to it, including those
relating to the Communications Act, ERISA and labor matters and Environmental
Laws and Environmental Permits, except to the extent that any such
non-compliance has not had and could not reasonably be expected to have a
Material Adverse Effect and (ii) all provisions of all FCC licenses,
certifications and permits, franchises, or other permits and authorizations
relating to the operation of the business of each of the Affiliation
Subsidiaries and all other material agreements, licenses or leases to which it
is a party or of which it is a beneficiary and suffer no loss or forfeiture
thereof or thereunder, except to the extent that any such non-compliance or loss
or forfeiture has not had and could not reasonably be expected to have a
Material Adverse Effect.

                  Section 5.3 NO RESTRICTIVE COVENANTS. Promptly following the
execution of this Agreement, the Company shall use commercially reasonable
efforts to obtain a modification of the Secured Credit Agreement to permit (a)
the sale of the KNTV Assets to NBC as contemplated by the Affiliation Agreement
or Article VII, PROVIDED that such sale is at Fair Market Value and (b) the
grant by the Company of a negative pledge to NBC on the terms set forth in
Section 5.4. In addition, the Company shall use commercially reasonable efforts
to obtain an exception for such sale to NBC and negative pledge pursuant to
Section 5.4 in any modification, refinancing or replacement to the Secured
Credit Agreement, and in any other agreement, including in respect of
indebtedness, entered into after the execution of this Agreement which would
restrict such sale or negative pledge. The provisions of Section 5.3 shall
remain applicable so long as NBC retains the right to acquire the KNTV Assets
pursuant to Section 20 of the Affiliation Agreement.

                  Section 5.4 NEGATIVE PLEDGE ON KNTV ASSETS. Only to the extent
the following does not violate the Secured Credit Agreement, the Company agrees
that it shall not permit any further Liens or encumbrances upon the KNTV Assets
other than Permitted Liens, Liens and encumbrances arising in the ordinary
course of KNTV's business consistent with prior practice and the Lien created by
the Secured Credit Agreement on KNTV Assets. In addition, the Company shall not
cause or permit any occurrence which would cause the Company to be in breach
(after giving effect to any waiver or modification thereof) of Section 7.7 of
the Secured Credit Agreement or any comparable provision in any subsequent,
modified, refinanced or replacement credit facility. The provisions of Section
5.4 shall remain applicable so long as NBC retains the right to acquire the KNTV
Assets pursuant to Section 20 of the Affiliation Agreement.

<PAGE>

                                                          Supplemental Agreement

                                  ARTICLE VI.

                              DELIVERIES AT CLOSING

                  Section 6.1 DELIVERIES AT CLOSING. Simultaneously with the
execution and delivery of this Agreement and the Closing:

                  (a) AFFILIATION AGREEMENT. The Affiliation Agreement shall
have been duly executed and delivered by the parties referred to therein.

                  (b) WARRANTS. The Warrants shall have been duly executed and
delivered by the Company.

                  (c) REGISTRATION RIGHTS AGREEMENT. The Registration Rights
Agreement shall have been duly executed and delivered by the parties referred to
therein.

                  (d) LEGAL OPINION. NBC shall have received from counsel for
the Company an opinion substantially in the form of Exhibit E attached hereto
addressed to NBC.

                                  ARTICLE VII.

                                EVENTS OF DEFAULT

                  Section 7.1 EVENTS OF DEFAULT. If any of the following events
(each an "EVENT OF DEFAULT") shall occur and be continuing:

                  (a) the Company (or any other party to the other Affiliation
Documents other than NBC and its Affiliates) (i) is in material breach or
default under Section 5.4 of this Agreement, and (ii) either (A) if such breach
or default is not reasonably curable, the Company receives notice of such breach
or default from NBC or (B) if such breach or default is reasonably curable, the
Company fails to cure such breach or default within 30 days after the Company's
receipt of notice from NBC of such breach or default; or

                  (b) any member of the KNTV Group pursuant to or within the
meaning of any Bankruptcy Law (i) commences a voluntary case, (ii) consents to
the entry of an order for relief against it in an involuntary case, (iii)
consents to the appointment of a Custodian of it or for all or substantially all
of its property, (iv) makes a general assignment for the benefit of its
creditors, or (v) generally is not paying its debts as they become due; or

                  (c) a court of competent jurisdiction enters an order or
decree under any Bankruptcy Law that (i) is for relief against any member of the
KNTV Group in an involuntary case, (ii) appoints a Custodian of any member of
the KNTV Group or for all or substantially all of the property of any member of
the KNTV Group, or (iii) orders the liquidation of any member of the KNTV Group,
and the order or decree remains unstayed and in effect for 60 days;

<PAGE>
                                                          Supplemental Agreement

then, (i) in the case of an Event of Default pursuant to Section 7(a), NBC may,
in its sole discretion (A) terminate this Agreement and the Affiliation
Agreement effective immediately upon notice of such termination to the Company
or (B) acquire the KNTV Assets at Fair Market Value, LESS any accrued and unpaid
financial amounts then owed to NBC under this Agreement and the other
Affiliation Documents (any Section 4(a) installment payment pursuant to the
Affiliation Agreement due on or after the termination date shall not be
deducted), and LESS NBC's reasonable transaction costs (to the extent such
reasonable transaction costs are permitted under any indenture agreements
relating to any subordinated debt outstanding as of the date of this Agreement)
or (ii) in the case of an Event of Default pursuant to Section 7(b) or 7(c),
this Agreement and the Affiliation Agreement will terminate at the discretion of
NBC. In the event of any termination pursuant to this Article VII, the
provisions of Section 21 of the Affiliation Agreement shall not be applicable;
PROVIDED, HOWEVER, that NBC shall reimburse the Company for the pro rata portion
of any Affiliation Payment (as defined in Section 4(a) of the Affiliation
Agreement) made for the year during which such termination occurs.

                                 ARTICLE VIII.

                                  MISCELLANEOUS

                  Section 8.1 NOTICES. All notices and other communications
hereunder shall be in writing and shall be deemed to have been duly given, if
delivered personally, by telecopier or sent by overnight courier as follows:

                  (a)      If to NBC, to:

                           National Broadcasting Company, Inc.
                           30 Rockefeller Plaza
                           New York, New York 10112
                           Attention: General Counsel
                           Fax: 212-664-2648

                           with copies to:

                           Simpson Thacher & Bartlett
                           425 Lexington Avenue
                           New York, New York 10017
                           Attention: Caroline B. Gottschalk
                           Fax: (212) 455-2502

<PAGE>
                                                          Supplemental Agreement

                 (b)       If to the Company, to:

                           Granite Broadcasting Corporation
                           767 Third Avenue, 34th Floor
                           New York, New York 10017
                           Attention: Chairman and Chief Executive Officer
                           Fax: (212) 826-2858

                           with copies to:

                           Akin, Gump, Strauss, Hauer & Feld, L.L.P.
                           1333 New Hampshire Avenue, N.W., Suite 400
                           Washington, D.C. 20036
                           Attention: Russell W. Parks, Jr.
                           Fax: (202) 887-4288

or to such other address or addresses as shall be designated in writing. All
notices shall be effective when received.

                  Section 8.2 ENTIRE AGREEMENT; AMENDMENT. This Agreement, the
other Affiliation Documents and the documents described herein and therein or
attached or delivered pursuant hereto or thereto set forth the entire agreement
between the parties hereto with respect to the transactions contemplated by this
Agreement. The letter agreement, dated as of February 11, 2000 is hereby
terminated and of no further force or effect. Any provision of this Agreement
may be amended or modified in whole or in part at any time by an agreement in
writing between the parties hereto executed in the same manner as this
Agreement. No failure on the part of any party to exercise, and no delay in
exercising, any right shall operate as a waiver thereof nor shall any single or
partial exercise by any party of any right preclude any other or future exercise
thereof or the exercise of any other right.

                  Section 8.3 COUNTERPARTS. This Agreement may be executed in
one or more counterparts, each of which shall be deemed to constitute an
original, but all of which together shall constitute one and the same document.

                  Section 8.4 GOVERNING LAW; JURISDICTION; WAIVER OF JURY TRIAL.
THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF NEW YORK APPLICABLE TO CONTRACTS EXECUTED AND PERFORMED WITHIN SUCH
STATE, AND EACH PARTY HEREBY SUBMITS TO THE JURISDICTION OF ANY STATE OR U.S.
FEDERAL COURT SITTING WITHIN THE COUNTY OF NEW YORK. THE PARTIES HERETO WAIVE
ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING BROUGHT TO ENFORCE
OR DEFEND ANY RIGHTS OR REMEDIES UNDER THIS AGREEMENT.

                  Section 8.5 FEES AND EXPENSES. Each party shall bear its own
costs and expenses incurred in connection with this Agreement and the other
Affiliation Documents and the transactions contemplated hereby, including the
fees and expenses of their respective accountants and counsel.

<PAGE>

                                                          Supplemental Agreement

                  Section 8.6 SUCCESSORS AND ASSIGNS; THIRD PARTY BENEFICIARIES.
Subject to applicable law and the following sentence, NBC may assign its rights
under this Agreement in whole or in part only to any Affiliate of NBC, but no
such assignment shall relieve NBC of its obligations hereunder. NBC shall not
assign any rights under this Agreement to any other Person unless such Person
expressly assumes pursuant to a document in form and substance reasonably
satisfactory to the Company all of the obligations of NBC associated with the
rights proposed to be assigned. The Company's rights hereunder may not be
assigned and its duties hereunder may not be delegated, in each case, whether by
operation of law or otherwise without the prior written consent of NBC. Upon any
such purported assignment or delegation that does not comply with this Section,
this Agreement shall automatically terminate and be of no further force and
effect unless NBC shall otherwise agree in writing; PROVIDED, HOWEVER, that
nothing in this sentence shall relieve the Company of its obligations and duties
hereunder. Nothing expressed or mentioned in this Agreement is intended or shall
be construed to give any Person other than the parties hereto and their
respective successors, any legal or equitable right, remedy or claim under or in
respect of this Agreement or any provision herein contained. This Agreement and
all conditions and provisions hereof are intended to be for the sole and
exclusive benefit of the parties hereto and their respective successors, and for
the benefit of no other Person.

                  Section 8.7 ARBITRATION. Any controversy, dispute or claim
arising out of, in connection with or in relation to the interpretation,
performance or breach of this Agreement, shall be determined, at the request of
any party, by arbitration in a city mutually agreeable to the parties to such
controversy, dispute or claim, or, failing such agreement, in New York, New
York, before and in accordance with the then-existing Rules for Commercial
Arbitration of the American Arbitration Association, and any judgment or award
rendered by the arbitrator will be final, binding and unappealable and judgment
may be entered by any state or Federal court having jurisdiction thereof. The
pre-trial discovery procedures of the Federal Rules of Civil Procedure shall
apply to any arbitration under this Section 8.7. Any controversy concerning
whether a dispute is an arbitrable dispute or as to the interpretation or
enforceability of this Section 8.7 shall be determined by the arbitrator. The
arbitrator shall be a retired or former United States District Judge or other
person acceptable to each of the parties, PROVIDED such individual has
substantial professional experience with regard to corporate or partnership
legal matters. The parties intend that this agreement to arbitrate be valid,
enforceable and irrevocable.

                  Section 8.8 REMEDIES. No right, power or remedy conferred upon
NBC in this Agreement or the other Affiliation Documents shall be exclusive, and
each such right, power or remedy shall be cumulative and in addition to every
other right, power or remedy whether conferred in this Agreement or the other
Affiliation Documents or now or hereafter available at law or in equity or by
statute or otherwise. No course of dealing between NBC and the Company and no
delay in exercising any right, power or remedy conferred in this Agreement or
now or hereafter existing at law or in equity or by statute or otherwise shall
operate as a waiver or otherwise prejudice any such right, power or remedy. The
parties hereto agree that irreparable damage would occur in the event any
provision of this Agreement or the other Affiliation Documents was not performed
in accordance with the terms hereof and that the parties shall be entitled to an
injunction or injunctions to prevent breaches of this Agreement or the other

<PAGE>

                                                          Supplemental Agreement

Affiliation Documents and to enforce specifically the terms and provisions of
this Agreement in addition to any other remedy to which they are entitled at law
or in equity.

                  Section 8.9 HEADINGS, CAPTIONS AND TABLE OF CONTENTS. The
section headings, captions and table of contents contained in this Agreement are
for reference purposes only, are not part of this Agreement and shall not affect
the meaning or interpretation of this Agreement.

<PAGE>

                                                          Supplemental Agreement

                  IN WITNESS WHEREOF, this Agreement has been executed by the
parties hereto or by their respective duly authorized representatives, all as of
the date first above written.

                        GRANITE BROADCASTING CORPORATION

                        By: /s/ W. Don Cornwell
                            ------------------------------
                            Name:  W. Don Cornwell
                            Title: Chief Executive Officer

                       NATIONAL BROADCASTING COMPANY, INC.

                       By: /s/ Randel A. Falco
                           -------------------------------
                           Name: Randel A. Falco
                           Title:

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