Document:

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                                                                     EXHIBIT 4.2

                          REGISTRATION RIGHTS AGREEMENT

         This REGISTRATION RIGHTS AGREEMENT dated December 22, 2003 (the
"Agreement") is entered into by and among Granite Broadcasting Corporation, a
Delaware corporation (the "Company"), the Guarantors and J.P. Morgan Securities
Inc., Banc of America Securities LLC and Goldman, Sachs & Co. (the "Initial
Purchasers").

         The Company, the Guarantors and the Initial Purchasers are parties to
the Purchase Agreement dated December 8, 2003 (the "Purchase Agreement"), which
provides for the sale by the Company to the Initial Purchasers of $405,000,000
aggregate principal amount of the Company's 9 3/4% Senior Secured Notes due 2010
(the "Notes"), which will be guaranteed on a senior secured basis by each of the
Guarantors (the "Guarantees," and together with the Notes, the "Securities"). As
an inducement to the Initial Purchasers to enter into the Purchase Agreement,
the Company and the Guarantors have agreed to provide to the Initial Purchasers
and their direct and indirect transferees the registration rights set forth in
this Agreement. The execution and delivery of this Agreement is a condition to
the closing under the Purchase Agreement.

         In consideration of the foregoing, the parties hereto agree as follows:

         1.       DEFINITIONS. As used in this Agreement, the following terms
shall have the following meanings:

         "Business Day" shall mean any day that is not a Saturday, Sunday or
other day on which commercial banks in New York City are authorized or required
by law to remain closed.

         "Closing Date" shall mean the Closing Date as defined in the Purchase
Agreement.

         "Company" shall have the meaning set forth in the preamble and shall
also include the Company's successors.

         "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended from time to time.

         "Exchange Dates" shall have the meaning set forth in Section 2(a)(ii)
hereof.

         "Exchange Offer" shall mean the exchange offer by the Company and the
Guarantors of Exchange Securities for Registrable Securities pursuant to Section
2(a) hereof.

         "Exchange Offer Registration" shall mean a registration under the
Securities Act effected pursuant to Section 2(a) hereof.

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         "Exchange Offer Registration Statement" shall mean an exchange offer
registration statement on Form S-4 (or, if applicable, on another appropriate
form) and all amendments and supplements to such registration statement, in each
case including the Prospectus contained therein, all exhibits thereto and any
document incorporated by reference therein.

         "Exchange Securities" shall mean senior secured notes issued by the
Company and guaranteed by the Guarantors under the Indenture containing terms
identical to the Securities (except that the Exchange Securities will not be
subject to restrictions on transfer or to any increase in annual interest rate
for failure to comply with this Agreement) and to be offered to Holders of
Securities in exchange for Securities pursuant to the Exchange Offer.

         "Guarantors" shall have the meaning set forth in the Indenture.

         "Holders" shall mean the Initial Purchasers, for so long as they own
any Registrable Securities, and each of their successors, assigns and direct and
indirect transferees who become owners of Registrable Securities under the
Indenture, for so long as they own any Registrable Securities; provided that for
purposes of Sections 4 and 5 of this Agreement, the term "Holders" shall include
Participating Broker-Dealers.

         "Initial Purchasers" shall have the meaning set forth in the preamble
to this Agreement.

         "Indenture" shall mean the Indenture relating to the Securities dated
as of December 22, 2003 among the Company, the Guarantors and The Bank of New
York, as trustee, and as the same may be amended from time to time in accordance
with the terms thereof.

         "Majority Holders" shall mean the Holders of a majority of the
aggregate principal amount of outstanding Registrable Securities; provided that
whenever the consent or approval of Holders of a specified percentage of
Registrable Securities is required hereunder, Registrable Securities owned
directly or indirectly by the Company or any of its affiliates shall not be
counted in determining whether such consent or approval was given by the Holders
of such required percentage or amount.

         "Participating Broker-Dealers" shall have the meaning set forth in
Section 4(a) hereof.

         "Person" shall mean an individual, partnership, limited liability
company, corporation, trust or unincorporated organization, or a government or
agency or political subdivision thereof.

         "Prospectus" shall mean the prospectus included in a Registration
Statement, including any preliminary prospectus, and any such prospectus as
amended or supplemented

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by any prospectus supplement, including a prospectus supplement with respect to
the terms of the offering of any portion of the Registrable Securities covered
by a Shelf Registration Statement, and by all other amendments and supplements
to such prospectus, and in each case including any document incorporated by
reference therein.

         "Purchase Agreement" shall have the meaning set forth in the preamble
to this Agreement.

         "Registrable Securities" shall mean the Securities; provided that the
Securities shall cease to be Registrable Securities (i) when a Registration
Statement with respect to such Securities has been declared effective under the
Securities Act and such Securities have been exchanged or disposed of pursuant
to such Registration Statement, (ii) when such Securities are eligible to be
sold pursuant to Rule 144(k) (or any similar provision then in force, but not
Rule 144A) under the Securities Act or (iii) when such Securities cease to be
outstanding.

         "Registration Expenses" shall mean any and all expenses incident to
performance of or compliance by the Company and the Guarantors with this
Agreement, including, without limitation, (i) all SEC, stock exchange or
National Association of Securities Dealers, Inc. registration and filing fees,
(ii) all fees and expenses incurred in connection with compliance with state
securities or blue sky laws (including reasonable fees and disbursements of
counsel for any Underwriters or Holders in connection with blue sky
qualification of any Exchange Securities or Registrable Securities), (iii) all
expenses of any Persons in preparing or assisting in preparing, word processing,
printing and distributing any Registration Statement, any Prospectus and any
amendments or supplements thereto, any underwriting agreements, securities sales
agreements or other similar agreements and any other documents relating to the
performance of and compliance with this Agreement, (iv) all rating agency fees,
(v) all fees and disbursements relating to the qualification of the Indenture
under applicable securities laws, (vi) the fees and disbursements of the Trustee
and its counsel, (vii) the fees and disbursements of counsel for the Company and
the Guarantors and, in the case of a Shelf Registration Statement, the
reasonable actual fees and disbursements of one counsel for the Holders (which
counsel shall be selected by the Majority Holders and which counsel may also be
counsel for the Initial Purchasers) and (viii) the fees and disbursements of the
independent public accountants of the Company and the Guarantors, including the
expenses of any special audits or "comfort" letters required by or incident to
the performance of and compliance with this Agreement, but excluding fees and
expenses of counsel to the Underwriters (other than fees and expenses set forth
in clause (ii) above) or the Holders and underwriting discounts and commissions
and transfer taxes, if any, relating to the sale or disposition of Registrable
Securities by a Holder.

         "Registration Statement" shall mean any registration statement of the
Company and the Guarantors that covers any of the Exchange Securities or
Registrable Securities pursuant to the provisions of this Agreement and all
amendments and supplements to any such registration statement, including
post-effective amendments, in each case

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including the Prospectus contained therein, all exhibits thereto and any
document incorporated by reference therein.

         "SEC" shall mean the Securities and Exchange Commission.

         "Securities" shall have the meaning set forth in the preamble to this
Agreement.

         "Securities Act" shall mean the Securities Act of 1933, as amended from
time to time.

         "Shelf Effectiveness Period" shall have the meaning set forth in
Section 2(b) hereof.

         "Shelf Registration" shall mean a registration effected pursuant to
Section 2(b) hereof.

         "Shelf Registration Statement" shall mean a "shelf" registration
statement of the Company and the Guarantors that covers all the Registrable
Securities (but no other securities unless approved by the Holders whose
Registrable Securities are to be covered by such Shelf Registration Statement)
on an appropriate form under Rule 415 under the Securities Act, or any similar
rule that may be adopted by the SEC, and all amendments and supplements to such
registration statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and any
document incorporated by reference therein.

         "Target Registration Date" shall have the meaning set forth in Section
2(d) hereof.

         "Trust Indenture Act" shall mean the Trust Indenture Act of 1939, as
amended from time to time.

         "Trustee" shall mean the trustee with respect to the Securities under
the Indenture.

         "Underwriter" shall have the meaning set forth in Section 3 hereof.

         "Underwritten Offering" shall mean an offering in which Registrable
Securities are sold to an Underwriter for reoffering to the public.

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         2.       REGISTRATION UNDER THE SECURITIES ACT. (a) To the extent not
prohibited by any applicable laws, rules or regulations or applicable
interpretations of the staff of the SEC, the Company and the Guarantors shall
use their reasonable best efforts to (i) cause to be filed an Exchange Offer
Registration Statement covering an offer to the Holders to exchange all the
Registrable Securities for Exchange Securities and (ii) have such Exchange Offer
Registration Statement remain effective until 180 days after the Exchange Offer
Registration Statement has been declared effective. The Company and the
Guarantors shall commence the Exchange Offer promptly after the Exchange Offer
Registration Statement is declared effective by the SEC and use their reasonable
best efforts to complete the Exchange Offer not later than 60 days after such
effective date.

         The Company and the Guarantors shall commence the Exchange Offer by
mailing the related Prospectus, appropriate letters of transmittal and other
accompanying documents to each Holder stating, in addition to such other
disclosures as are required by applicable law,

   (i)   that the Exchange Offer is being made pursuant to this Agreement and
         that all Registrable Securities validly tendered and not properly
         withdrawn will be accepted for exchange;

   (ii)  the dates of acceptance for exchange (which shall be a period of at
         least 20 Business Days from the date such notice is mailed) (the
         "Exchange Dates");

   (iii) that any Registrable Security not tendered will remain outstanding and
         continue to accrue interest but will not retain any rights under this
         Agreement;

   (iv)  that any Holder electing to have a Registrable Security exchanged
         pursuant to the Exchange Offer will be required to surrender such
         Registrable Security, together with the appropriate letters of
         transmittal, to the institution and at the address (located in the
         Borough of Manhattan, The City of New York) and in the manner specified
         in the notice, prior to the close of business on the last Exchange
         Date; and

   (v)   that any Holder will be entitled to withdraw its election to have its
         Registrable Securities exchanged pursuant to the Exchange Offer, not
         later than the close of business on the last Exchange Date, by sending
         to the institution and at the address (located in the Borough of
         Manhattan, The City of New York) specified in the notice, a telegram,
         telex, facsimile transmission or letter setting forth the name of such
         Holder, the principal amount of Registrable Securities delivered for
         exchange and a statement that such Holder is withdrawing its election
         to have such Securities exchanged.

         As a condition to participating in the Exchange Offer, a Holder will be
required to represent to the Company and the Guarantors that (i) any Exchange
Securities to

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be received by it will be acquired in the ordinary course of its business, (ii)
at the time of the commencement of the Exchange Offer it has no arrangement or
understanding with any Person to participate in the distribution (within the
meaning of the Securities Act) of the Exchange Securities in violation of the
provisions of the Securities Act, (iii) it is not an "affiliate" (within the
meaning of Rule 405 under Securities Act) of the Company or any Guarantor and
(iv) if such Holder is a broker-dealer that will receive Exchange Securities for
its own account in exchange for Registrable Securities that were acquired as a
result of market-making or other trading activities, then such Holder will
deliver a Prospectus in connection with any resale of such Exchange Securities.

         As soon as practicable after the last Exchange Date, the Company and
the Guarantors shall

   (i)   accept for exchange Registrable Securities or portions thereof validly
         tendered and not properly withdrawn pursuant to the Exchange Offer; and

   (ii)  deliver, or cause to be delivered, to the Trustee for cancellation all
         Registrable Securities or portions thereof so accepted for exchange by
         the Company and issue, and cause the Trustee to promptly authenticate
         and deliver to each Holder, Exchange Securities equal in principal
         amount to the principal amount of the Registrable Securities
         surrendered by such Holder.

         The Company and the Guarantors shall use their reasonable best efforts
to complete the Exchange Offer as provided above and shall comply with the
applicable requirements of the Securities Act, the Exchange Act and other
applicable laws and regulations in connection with the Exchange Offer. The
Exchange Offer shall not be subject to any conditions, other than that the
Exchange Offer does not violate any applicable law or applicable interpretations
of the staff of the SEC.

         (b)      In the event that (i) the Company and the Guarantors determine
that the Exchange Offer Registration provided for in Section 2(a) above is not
available or may not be completed as soon as practicable after the last Exchange
Date because it would violate any applicable laws, rules or regulations or
applicable interpretations of the staff of the SEC, (ii) the Exchange Offer is
not for any other reason completed on or before the date which is 270 days after
the Closing Date or (iii) upon completion of the Exchange Offer any Initial
Purchaser holding an unsold allotment of Registrable Securities shall so
request, the Company and the Guarantors shall use their reasonable best efforts
to cause to be filed as soon as practicable after such determination, date or
request, as the case may be, a Shelf Registration Statement providing for the
sale of all the Registrable Securities by the Holders thereof and to have such
Shelf Registration Statement declared effective by the SEC.

         In the event that the Company and the Guarantors are required to file a
Shelf Registration Statement pursuant to clause (iii) of the preceding sentence,
the Company and the Guarantors shall use their reasonable best efforts to file
and have declared effective by the

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SEC both an Exchange Offer Registration Statement pursuant to Section 2(a) with
respect to all Registrable Securities and a Shelf Registration Statement (which
may be a combined Registration Statement with the Exchange Offer Registration
Statement) with respect to offers and sales of Registrable Securities held by
the Initial Purchasers after completion of the Exchange Offer.

         The Company and the Guarantors agree to use their reasonable best
efforts to keep the Shelf Registration Statement continuously effective until
the expiration of the period referred to in Rule 144(k) under the Securities Act
with respect to the Registrable Securities or such shorter period that will
terminate when all the Registrable Securities covered by the Shelf Registration
Statement have been sold pursuant to the Shelf Registration Statement (the
"Shelf Effectiveness Period"). The Company and the Guarantors further agree to
supplement or amend the Shelf Registration Statement and the related Prospectus
if required by the rules, regulations or instructions applicable to the
registration form used by the Company for such Shelf Registration Statement or
by the Securities Act or by any other rules and regulations thereunder for shelf
registration or if reasonably requested by a Holder of Registrable Securities
with respect to information relating to such Holder, and to use their reasonable
best efforts to cause any such amendment to become effective and such Shelf
Registration Statement and Prospectus to become usable as soon as thereafter
practicable. The Company and the Guarantors agree to furnish to the Holders of
Registrable Securities copies of any such supplement or amendment promptly after
its being used or filed with the SEC.

         (c)      The Company and the Guarantors shall pay all Registration
Expenses in connection with the registration pursuant to Section 2(a) and
Section 2(b) hereof. Each Holder shall pay all underwriting discounts and
commissions and transfer taxes, if any, relating to the sale or disposition of
such Holder's Registrable Securities pursuant to the Shelf Registration
Statement.

         (d)      An Exchange Offer Registration Statement pursuant to Section
2(a) hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof
will not be deemed to have become effective unless it has been declared
effective by the SEC.

         In the event that either the Exchange Offer is not completed or the
Shelf Registration Statement, if required hereby, is not declared effective on
or before the date which is 270 days after the Closing Date (the "Target
Registration Date"), the interest rate on the Registrable Securities will be
increased by (i) 0.50% per annum for the first 90-day period immediately
following the Target Registration Date and (ii) an additional 0.25% per annum at
the end of the period described in clause (i), in each case until the Exchange
Offer is completed or the Shelf Registration Statement, if required hereby, is
declared effective by the SEC or the Securities become freely tradable under the
Securities Act.

         If the Shelf Registration Statement has been declared effective and
thereafter either ceases to be effective or the Prospectus contained therein
ceases to be usable at any

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time during the Shelf Effectiveness Period, and such failure to remain effective
or usable exists for more than 30 days (whether or not consecutive) in any
12-month period, then the interest rate on the Registrable Securities will be
increased by 0.75% per annum commencing on the 31st day in such 12-month period
and ending on such date that the Shelf Registration Statement has again been
declared effective or the Prospectus again becomes usable.

         (e)      Without limiting the remedies available to the Initial
Purchasers and the Holders, the Company and the Guarantors acknowledge that any
failure by the Company or the Guarantors to comply with their obligations under
Section 2(a) and Section 2(b) hereof may result in material irreparable injury
to the Initial Purchasers or the Holders for which there is no adequate remedy
at law, that it will not be possible to measure damages for such injuries
precisely and that, in the event of any such failure, the Initial Purchasers or
any Holder may obtain such relief as may be required to specifically enforce the
Company's and the Guarantors' obligations under Section 2(a) and Section 2(b)
hereof.

         3.       REGISTRATION PROCEDURES. In connection with their obligations
pursuant to Section 2(a) and Section 2(b) hereof, the Company and the Guarantors
shall as expeditiously as possible

         (a)      prepare and file with the SEC a Registration Statement on the
     appropriate form under the Securities Act, which form (x) shall be selected
     by the Company and the Guarantors, (y) shall, in the case of a Shelf
     Registration, be available for the sale of the Registrable Securities by
     the selling Holders thereof and (z) shall comply as to form in all material
     respects with the requirements of the applicable form and include all
     financial statements required by the SEC to be filed therewith; and use
     their reasonable best efforts to cause such Registration Statement to
     become effective and remain effective for the applicable period in
     accordance with Section 2 hereof;

         (b)      prepare and file with the SEC such amendments and
     post-effective amendments to each Registration Statement as may be
     necessary to keep such Registration Statement effective for the applicable
     period in accordance with Section 2 hereof and cause each Prospectus to be
     supplemented by any required prospectus supplement and, as so supplemented,
     to be filed pursuant to Rule 424 under the Securities Act; and keep each
     Prospectus current during the period described in Section 4(3) of and Rule
     174 under the Securities Act that is applicable to transactions by brokers
     or dealers with respect to the Registrable Securities or Exchange
     Securities;

         (c)      in the case of a Shelf Registration, furnish to each Holder of
     Registrable Securities, to counsel for the Initial Purchasers, to counsel
     for such Holders and to each Underwriter of an Underwritten Offering of
     Registrable Securities, if any, without charge, as many copies of each
     Prospectus, including each preliminary Prospectus, and any amendment or
     supplement thereto, in order to

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     facilitate the sale or other disposition of the Registrable Securities
     thereunder; and the Company and the Guarantors consent to the use of such
     Prospectus and any amendment or supplement thereto in accordance with
     applicable law by each of the selling Holders of Registrable Securities and
     any such Underwriters in connection with the offering and sale of the
     Registrable Securities covered by and in the manner described in such
     Prospectus or any amendment or supplement thereto in accordance with
     applicable law;

         (d)      use their reasonable best efforts to register or qualify the
     Registrable Securities under all applicable state securities or blue sky
     laws of such jurisdictions as any Holder of Registrable Securities covered
     by a Registration Statement shall reasonably request in writing by the time
     the applicable Registration Statement is declared effective by the SEC;
     cooperate with the Holders in connection with any filings required to be
     made with the National Association of Securities Dealers, Inc.; and do any
     and all other acts and things that may be reasonably necessary or advisable
     to enable each Holder to complete the disposition in each such jurisdiction
     of the Registrable Securities owned by such Holder; provided that neither
     the Company nor any Guarantor shall be required to (i) qualify as a foreign
     corporation or other entity or as a dealer in securities in any such
     jurisdiction where it would not otherwise be required to so qualify, (ii)
     file any general consent to service of process in any such jurisdiction or
     (iii) subject itself to taxation in any such jurisdiction if it is not so
     subject;

         (e)      in the case of a Shelf Registration, notify each Holder of
     Registrable Securities, counsel for such Holders and counsel for the
     Initial Purchasers promptly and, if requested by any such Holder or
     counsel, confirm such advice in writing (i) when a Registration Statement
     has become effective and when any post-effective amendment thereto has been
     filed and becomes effective, (ii) of any request by the SEC or any state
     securities authority for amendments and supplements to a Registration
     Statement and Prospectus or for additional information after the
     Registration Statement has become effective, (iii) of the issuance by the
     SEC or any state securities authority of any stop order suspending the
     effectiveness of a Registration Statement or the initiation of any
     proceedings for that purpose, (iv) if, between the effective date of a
     Registration Statement and the closing of any sale of Registrable
     Securities covered thereby, the representations and warranties of the
     Company or any Guarantor contained in any underwriting agreement,
     securities sales agreement or other similar agreement, if any, relating to
     an offering of such Registrable Securities cease to be true and correct in
     all material respects or if the Company or any Guarantor receives any
     notification with respect to the suspension of the qualification of the
     Registrable Securities for sale in any jurisdiction or the initiation of
     any proceeding for such purpose, (v) of the happening of any event during
     the period a Shelf Registration Statement is effective that makes any
     statement made in such Registration Statement or the related Prospectus
     untrue in any material respect

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     or that requires the making of any changes in such Registration Statement
     or Prospectus in order to make the statements therein not misleading and
     (vi) of any determination by the Company or any Guarantor that a
     post-effective amendment to a Registration Statement would be appropriate;

         (f)      use their reasonable best efforts to obtain the withdrawal of
     any order suspending the effectiveness of a Registration Statement at the
     earliest possible moment and provide immediate notice to each Holder of the
     withdrawal of any such order;

         (g)      in the case of a Shelf Registration, furnish to each Holder of
     Registrable Securities, without charge, at least one conformed copy of each
     Registration Statement and any post-effective amendment thereto (without
     any documents incorporated therein by reference or exhibits thereto, unless
     requested);

         (h)      in the case of a Shelf Registration, cooperate with the
     selling Holders of Registrable Securities to facilitate the timely
     preparation and delivery of certificates representing Registrable
     Securities to be sold and not bearing any restrictive legends and enable
     such Registrable Securities to be issued in such denominations and
     registered in such names (consistent with the provisions of the Indenture)
     as the selling Holders may reasonably request at least one Business Day
     prior to the closing of any sale of Registrable Securities;

         (i)      in the case of a Shelf Registration, upon the occurrence of
     any event contemplated by Section 3(e)(v) hereof, use their reasonable best
     efforts to prepare and file with the SEC a supplement or post-effective
     amendment to a Registration Statement or the related Prospectus or any
     document incorporated therein by reference or file any other required
     document so that, as thereafter delivered to purchasers of the Registrable
     Securities, such Prospectus will not contain any untrue statement of a
     material fact or omit to state a material fact necessary to make the
     statements therein, in the light of the circumstances under which they were
     made, not misleading; and the Company and the Guarantors shall notify the
     Holders of Registrable Securities to suspend use of the Prospectus as
     promptly as practicable after the occurrence of such an event, and such
     Holders hereby agree to suspend use of the Prospectus until the Company and
     the Guarantors have amended or supplemented the Prospectus to correct such
     misstatement or omission;

         (j)      a reasonable time prior to the filing of any Registration
     Statement, any Prospectus, any amendment to a Registration Statement or
     amendment or supplement to a Prospectus or of any document that is to be
     incorporated by reference into a Registration Statement or a Prospectus
     after initial filing of a Registration Statement, provide copies of such
     document to the Initial Purchasers and their counsel (and, in the case of a
     Shelf Registration Statement, to the Holders of Registrable Securities and

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     their counsel) and make such of the representatives of the Company and the
     Guarantors as shall be reasonably requested by the Initial Purchasers or
     their counsel (and, in the case of a Shelf Registration Statement, the
     Holders of Registrable Securities or their counsel) available for
     discussion of such document; and the Company and the Guarantors shall not,
     at any time after initial filing of a Registration Statement, file any
     Prospectus, any amendment of or supplement to a Registration Statement or a
     Prospectus, or any document that is to be incorporated by reference into a
     Registration Statement or a Prospectus, of which the Initial Purchasers and
     their counsel (and, in the case of a Shelf Registration Statement, the
     Holders of Registrable Securities and their counsel) shall not have
     previously been advised and furnished a copy or to which the Initial
     Purchasers or their counsel (and, in the case of a Shelf Registration
     Statement, the Holders or their counsel) shall object;

         (k)      obtain a CUSIP number for all Exchange Securities or
     Registrable Securities, as the case may be, not later than the effective
     date of a Registration Statement;

         (l)      cause the Indenture to be qualified under the Trust Indenture
     Act in connection with the registration of the Exchange Securities or
     Registrable Securities, as the case may be; cooperate with the Trustee and
     the Holders to effect such changes to the Indenture as may be required for
     the Indenture to be so qualified in accordance with the terms of the Trust
     Indenture Act; and execute, and use their reasonable best efforts to cause
     the Trustee to execute, all documents as may be required to effect such
     changes and all other forms and documents required to be filed with the SEC
     to enable the Indenture to be so qualified in a timely manner;

         (m)      in the case of a Shelf Registration, make available for
     inspection by a representative of the Holders of the Registrable Securities
     (an "Inspector"), any Underwriter participating in any disposition pursuant
     to such Shelf Registration Statement, and attorneys and accountants
     designated by the Holders, at reasonable times and in a reasonable manner,
     all pertinent financial and other records, documents and properties of the
     Company and the Guarantors, and cause the respective officers, directors
     and employees of the Company and the Guarantors to supply all information
     reasonably requested by any such Inspector, Underwriter, attorney or
     accountant in connection with a Shelf Registration Statement; provided that
     if any such information is identified by the Company or any Guarantor as
     being confidential or proprietary, each Person receiving such information
     shall take such actions as are reasonably necessary to protect the
     confidentiality of such information to the extent such action is otherwise
     not inconsistent with, an impairment of or in derogation of the rights and
     interests of any Inspector, Holder or Underwriter);

         (n)      in the case of a Shelf Registration, use their reasonable best
     efforts to cause all Registrable Securities to be listed on any securities
     exchange or any

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     automated quotation system on which similar securities issued or guaranteed
     by the Company or any Guarantor are then listed if requested by the
     Majority Holders, to the extent such Registrable Securities satisfy
     applicable listing requirements;

         (o)      if reasonably requested by any Holder of Registrable
     Securities covered by a Registration Statement, promptly incorporate in a
     Prospectus supplement or post-effective amendment such information with
     respect to such Holder as such Holder reasonably requests to be included
     therein and make all required filings of such Prospectus supplement or such
     post-effective amendment as soon as the Company has received notification
     of the matters to be incorporated in such filing; and

         (p)      in the case of a Shelf Registration, enter into such customary
     agreements and take all such other actions in connection therewith
     (including those requested by the Holders of a majority in principal amount
     of the Registrable Securities being sold) in order to expedite or
     facilitate the disposition of such Registrable Securities including, but
     not limited to, an Underwritten Offering and in such connection, (i) to the
     extent possible, make such representations and warranties to the Holders
     and any Underwriters of such Registrable Securities with respect to the
     business of the Company and its subsidiaries, the Registration Statement,
     Prospectus and documents incorporated by reference or deemed incorporated
     by reference, if any, in each case, in form, substance and scope as are
     customarily made by issuers to underwriters in underwritten offerings and
     confirm the same if and when requested, (ii) use reasonable best efforts to
     obtain opinions of counsel to the Company and the Guarantors (which counsel
     and opinions, in form, scope and substance, shall be reasonably
     satisfactory to the Holders and such Underwriters and their respective
     counsel) addressed to each selling Holder and Underwriter of Registrable
     Securities, covering the matters customarily covered in opinions requested
     in underwritten offerings, (iii) use reasonable best efforts to obtain
     "comfort" letters from the independent certified public accountants of the
     Company and the Guarantors (and, if necessary, any other certified public
     accountant of any subsidiary of the Company or any Guarantor, or of any
     business acquired by the Company or any Guarantor for which financial
     statements and financial data are or are required to be included in the
     Registration Statement) addressed to each selling Holder and Underwriter of
     Registrable Securities, such letters to be in customary form and covering
     matters of the type customarily covered in "comfort" letters in connection
     with underwritten offerings and (iv) deliver such documents and
     certificates as may be reasonably requested by the Holders of a majority in
     principal amount of the Registrable Securities being sold or the
     Underwriters, and which are customarily delivered in underwritten
     offerings, to evidence the continued validity of the representations and
     warranties of the Company and the Guarantors made pursuant to clause (i)
     above and to evidence compliance with any customary conditions contained in
     an underwriting agreement.

                                       12

<PAGE>

         In the case of a Shelf Registration Statement, the Company may require
each Holder of Registrable Securities to furnish to the Company such information
regarding such Holder and the proposed disposition by such Holder of such
Registrable Securities as the Company and the Guarantors may from time to time
reasonably request in writing.

         In the case of a Shelf Registration Statement, each Holder of
Registrable Securities agrees that, upon receipt of any notice from the Company
and the Guarantors of the happening of any event of the kind described in
Section 3(e)(iii) or 3(e)(v) hereof, such Holder will forthwith discontinue
disposition of Registrable Securities pursuant to a Registration Statement until
such Holder's receipt of the copies of the supplemented or amended Prospectus
contemplated by Section 3(i) hereof and, if so directed by the Company and the
Guarantors, such Holder will deliver to the Company and the Guarantors all
copies in its possession, other than permanent file copies then in such Holder's
possession, of the Prospectus covering such Registrable Securities that is
current at the time of receipt of such notice.

         If the Company and the Guarantors shall give any such notice to suspend
the disposition of Registrable Securities pursuant to a Registration Statement,
the Company and the Guarantors shall extend the period during which the
Registration Statement shall be maintained effective pursuant to this Agreement
by the number of days during the period from and including the date of the
giving of such notice to and including the date when the Holders shall have
received copies of the supplemented or amended Prospectus necessary to resume
such dispositions. The Company and the Guarantors may give any such notice only
twice during any 365-day period and any such suspensions shall not exceed 30
days for each suspension and there shall not be more than two suspensions in
effect during any 365-day period.

         The Holders of Registrable Securities covered by a Shelf Registration
Statement who desire to do so may sell such Registrable Securities in an
Underwritten Offering. In any such Underwritten Offering, the investment banker
or investment bankers and manager or managers (the "Underwriters") that will
administer the offering will be selected by the Majority Holders of the
Registrable Securities included in such offering.

         4.       PARTICIPATION OF BROKER-DEALERS IN EXCHANGE OFFER. (a) The
staff of the SEC has taken the position that any broker-dealer that receives
Exchange Securities for its own account in the Exchange Offer in exchange for
Securities that were acquired by such broker-dealer as a result of market-making
or other trading activities (a "Participating Broker-Dealer") may be deemed to
be an "underwriter" within the meaning of the Securities Act and must deliver a
prospectus meeting the requirements of the Securities Act in connection with any
resale of such Exchange Securities.

         The Company and the Guarantors understand that it is the staff's
position that if the Prospectus contained in the Exchange Offer Registration
Statement includes a plan of

                                       13

<PAGE>

distribution containing a statement to the above effect and the means by which
Participating Broker-Dealers may resell the Exchange Securities, without naming
the Participating Broker-Dealers or specifying the amount of Exchange Securities
owned by them, such Prospectus may be delivered by Participating Broker-Dealers
to satisfy their prospectus delivery obligation under the Securities Act in
connection with resales of Exchange Securities for their own accounts, so long
as the Prospectus otherwise meets the requirements of the Securities Act.

         (b)      In light of the above, and notwithstanding the other
provisions of this Agreement, the Company and the Guarantors agree to amend or
supplement the Prospectus contained in the Exchange Offer Registration
Statement, as would otherwise be contemplated by Section 3(i), for a period of
up to 180 days after the Exchange Offer Registration Statement has been declared
effective (as such period may be extended pursuant to the penultimate paragraph
of Section 3 of this Agreement), if requested by the Initial Purchasers or by
one or more Participating Broker-Dealers, in order to expedite or facilitate the
disposition of any Exchange Securities by Participating Broker-Dealers
consistent with the positions of the staff recited in Section 4(a) above. The
Company and the Guarantors further agree that Participating Broker-Dealers shall
be authorized to deliver such Prospectus during such period in connection with
the resales contemplated by this Section 4.

         (c)      The Initial Purchasers shall have no liability to the Company,
any Guarantor or any Holder with respect to any request that they may make
pursuant to Section 4(b) above.

                                       14

<PAGE>

         5.       INDEMNIFICATION AND CONTRIBUTION. (a) The Company and each
Guarantor, jointly and severally, agree to indemnify and hold harmless each
Initial Purchaser and each Holder, their respective affiliates, directors and
officers and each Person, if any, who controls any Initial Purchaser or any
Holder within the meaning of Section 15 of the Securities Act or Section 20 of
the Exchange Act, from and against any and all losses, claims, damages and
liabilities (including, without limitation, legal fees and other expenses
incurred in connection with any suit, action or proceeding or any claim
asserted, as such fees and expenses are incurred), joint or several, that arise
out of, or are based upon, any untrue statement or alleged untrue statement of a
material fact contained in any Registration Statement or any Prospectus or any
omission or alleged omission to state therein a material fact required to be
stated therein or necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading, except
insofar as such losses, claims, damages or liabilities arise out of, or are
based upon, any untrue statement or omission or alleged untrue statement or
omission made in reliance upon and in conformity with any information relating
to any Initial Purchaser or any Holder furnished to the Company in writing
through J.P. Morgan Securities Inc. or any selling Holder expressly for use
therein. In connection with any Underwritten Offering permitted by Section 3,
the Company and the Guarantors, jointly and severally, will also indemnify the
Underwriters, if any, selling brokers, dealers and similar securities industry
professionals participating in the distribution, their respective affiliates and
each Person who controls such Persons (within the meaning of the Securities Act
and the Exchange Act) to the same extent as provided above with respect to the
indemnification of the Holders, if requested in connection with any Registration
Statement.

         (b)      Each Holder agrees, severally and not jointly, to indemnify
and hold harmless the Company, the Guarantors, the Initial Purchasers and the
other selling Holders, their respective affiliates, the directors of the Company
and the Guarantors, each officer of the Company and the Guarantors who signed
the Registration Statement and each Person, if any, who controls the Company,
the Guarantors, any Initial Purchaser and any other selling Holder within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to
the same extent as the indemnity set forth in paragraph (a) above, but only with
respect to any losses, claims, damages or liabilities that arise out of, or are
based upon, any untrue statement or omission or alleged untrue statement or
omission made in reliance upon and in conformity with any information relating
to such Holder furnished to the Company in writing by such Holder expressly for
use in any Registration Statement and any Prospectus.

         (c)      If any suit, action, proceeding (including any governmental or
regulatory investigation), claim or demand shall be brought or asserted against
any Person in respect of which indemnification may be sought pursuant to either
paragraph (a) or (b) above, such Person (the "Indemnified Person") shall
promptly notify the Person against whom such indemnification may be sought (the
"Indemnifying Person") in writing; provided that the failure to notify the
Indemnifying Person shall not relieve it from any liability that it may have
under this Section 5 except to the extent that it has been materially prejudiced
(through the

                                       15

<PAGE>

forfeiture of substantive rights or defenses) by such failure; and provided,
further, that the failure to notify the Indemnifying Person shall not relieve it
from any liability that it may have to an Indemnified Person otherwise than
under this Section 5. If any such proceeding shall be brought or asserted
against an Indemnified Person and it shall have notified the Indemnifying Person
thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to
the Indemnified Person to represent the Indemnified Person and any others
entitled to indemnification pursuant to this Section 5 that the Indemnifying
Person may designate in such proceeding and shall pay the fees and expenses of
such counsel related to such proceeding, as incurred. In any such proceeding,
any Indemnified Person shall have the right to retain its own counsel, but the
fees and expenses of such counsel shall be at the expense of such Indemnified
Person unless (i) the Indemnifying Person and the Indemnified Person shall have
mutually agreed to the contrary; (ii) the Indemnifying Person has failed within
a reasonable time to retain counsel reasonably satisfactory to the Indemnified
Person; (iii) the Indemnified Person shall have reasonably concluded, upon
advice of counsel, that there may be legal defenses available to it that are
different from or in addition to those available to the Indemnifying Person; or
(iv) the named parties in any such proceeding (including any impleaded parties)
include both the Indemnifying Person and the Indemnified Person and
representation of both parties by the same counsel would be inappropriate due to
actual or potential differing interests between them. It is understood and
agreed that the Indemnifying Person shall not, in connection with any proceeding
or related proceeding in the same jurisdiction, be liable for the fees and
expenses of more than one separate firm (in addition to any local counsel) for
all Indemnified Persons, and that all such fees and expenses shall be reimbursed
as they are incurred. Any such separate firm (x) for any Initial Purchaser, its
affiliates, directors and officers and any control Persons of such Initial
Purchaser shall be designated in writing by J.P. Morgan Securities Inc., (y) for
any Holder, its affiliates, directors and officers and any control Persons of
such Holder shall be designated in writing by the Majority Holders and (z) in
all other cases shall be designated in writing by the Company. The Indemnifying
Person shall not be liable for any settlement of any proceeding effected without
its written consent, but if settled with such consent or if there be a final
judgment for the plaintiff, the Indemnifying Person agrees to indemnify each
Indemnified Person from and against any loss or liability by reason of such
settlement or judgment. Notwithstanding the foregoing sentence, if at any time
an Indemnified Person shall have requested that an Indemnifying Person reimburse
the Indemnified Person for fees and expenses of counsel as contemplated by this
paragraph, the Indemnifying Person shall be liable for any settlement of any
proceeding effected without its written consent if (i) such settlement is
entered into more than 45 days after receipt by the Indemnifying Person of such
request and (ii) the Indemnifying Person shall not have reimbursed the
Indemnified Person in accordance with such request prior to the date of such
settlement. No Indemnifying Person shall, without the written consent of the
Indemnified Person, effect any settlement of any pending or threatened
proceeding in respect of which any Indemnified Person is or could have been a
party and indemnification could have been sought hereunder by such Indemnified
Person, unless such settlement (A) includes an unconditional release of such
Indemnified Person, in form and substance reasonably satisfactory to such
Indemnified Person, from all liability on claims that

                                       16

<PAGE>

are the subject matter of such proceeding and (B) does not include any statement
as to or any admission of fault, culpability or a failure to act by or on behalf
of any Indemnified Person.

         (d)      If the indemnification provided for in paragraphs (a) and (b)
above is unavailable to an Indemnified Person or insufficient in respect of any
losses, claims, damages or liabilities referred to therein, then each
Indemnifying Person under such paragraph, in lieu of indemnifying such
Indemnified Person thereunder, shall contribute to the amount paid or payable by
such Indemnified Person as a result of such losses, claims, damages or
liabilities (i) in such proportion as is appropriate to reflect the relative
benefits received by the Company and the Guarantors from the offering of the
Securities and the Exchange Securities, on the one hand, and by the Holders from
receiving Securities or Exchange Securities registered under the Securities Act,
on the other hand, or (ii) if the allocation provided by clause (i) is not
permitted by applicable law, in such proportion as is appropriate to reflect not
only the relative benefits referred to in clause (i) but also the relative fault
of the Company and the Guarantors on the one hand and the Holders on the other
in connection with the statements or omissions that resulted in such losses,
claims, damages or liabilities, as well as any other relevant equitable
considerations. The relative fault of the Company and the Guarantors on the one
hand and the Holders on the other shall be determined by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact relates to
information supplied by the Company and the Guarantors or by the Holders and the
parties' relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission.

         (e)      The Company, the Guarantors and the Holders agree that it
would not be just and equitable if contribution pursuant to this Section 5 were
determined by pro rata allocation (even if the Holders were treated as one
entity for such purpose) or by any other method of allocation that does not take
account of the equitable considerations referred to in paragraph (d) above. The
amount paid or payable by an Indemnified Person as a result of the losses,
claims, damages and liabilities referred to in paragraph (d) above shall be
deemed to include, subject to the limitations set forth above, any legal or
other expenses incurred by such Indemnified Person in connection with any such
action or claim. Notwithstanding the provisions of this Section 5, in no event
shall a Holder be required to contribute any amount in excess of the amount by
which the total price at which the Securities or Exchange Securities sold by
such Holder exceeds the amount of any damages that such Holder has otherwise
been required to pay by reason of such untrue or alleged untrue statement or
omission or alleged omission. No Person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any Person who was not guilty of such fraudulent
misrepresentation.

         (f)      The remedies provided for in this Section 5 are not exclusive
and shall not limit any rights or remedies that may otherwise be available to
any Indemnified Person at law or in equity.

                                       17

<PAGE>

         (g)      The indemnity and contribution provisions contained in this
Section 5 shall remain operative and in full force and effect regardless of (i)
any termination of this Agreement, (ii) any investigation made by or on behalf
of the Initial Purchasers or any Holder, their respective affiliates or any
Person controlling any Initial Purchaser or any Holder, or by or on behalf of
the Company or the Guarantors, their respective affiliates or the officers or
directors of or any Person controlling the Company or the Guarantors, (iii)
acceptance of any of the Exchange Securities and (iv) any sale of Registrable
Securities pursuant to a Shelf Registration Statement.

         6.       GENERAL.

         (a)      No Inconsistent Agreements. The Company and the Guarantors
represent, warrant and agree that (i) the rights granted to the Holders
hereunder do not in any way conflict with and are not inconsistent with the
rights granted to the holders of any other outstanding securities issued or
guaranteed by the Company or any Guarantor under any other agreement and (ii)
neither the Company nor any Guarantor has entered into, or on or after the date
of this Agreement will enter into, any agreement that is inconsistent with the
rights granted to the Holders of Registrable Securities in this Agreement or
otherwise conflicts with the provisions hereof.

         (b)      Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof
may not be given unless the Company and the Guarantors have obtained the written
consent of Holders of at least a majority in aggregate principal amount of the
outstanding Registrable Securities affected by such amendment, modification,
supplement, waiver or consent; provided that no amendment, modification,
supplement, waiver or consent to any departure from the provisions of Section 5
hereof shall be effective as against any Holder of Registrable Securities unless
consented to in writing by such Holder. Any amendments, modifications,
supplements, waivers or consents pursuant to this Section 6(b) shall be by a
writing executed by each of the parties hereto.

         (c)      Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand-delivery, registered
first-class mail, telex, telecopier, or any courier guaranteeing overnight
delivery (i) if to a Holder, at the most current address given by such Holder to
the Company by means of a notice given in accordance with the provisions of this
Section 6(c), which address initially is, with respect to the Initial
Purchasers, the address set forth in the Purchase Agreement; (ii) if to the
Company and the Guarantors, initially at the Company's address set forth in the
Purchase Agreement and thereafter at such other address, notice of which is
given in accordance with the provisions of this Section 6(c); and (iii) to such
other persons at their respective addresses as provided in the Purchase
Agreement and thereafter at such other address, notice of which is given in
accordance with the provisions of this Section 6(c). All such notices and
communications shall be deemed to have been duly given at the time delivered by
hand, if

                                       18

<PAGE>

personally delivered; five Business Days after being deposited in the mail,
postage prepaid, if mailed; when answered back, if telexed; when receipt is
acknowledged, if telecopied; and on the next Business Day if timely delivered to
an air courier guaranteeing overnight delivery. Copies of all such notices,
demands or other communications shall be concurrently delivered by the Person
giving the same to the Trustee, at the address specified in the Indenture.

         (d)      Successors and Assigns. This Agreement shall inure to the
benefit of and be binding upon the successors, assigns and transferees of each
of the parties, including, without limitation and without the need for an
express assignment, subsequent Holders; provided that nothing herein shall be
deemed to permit any assignment, transfer or other disposition of Registrable
Securities in violation of the terms of the Purchase Agreement or the Indenture.
If any transferee of any Holder shall acquire Registrable Securities in any
manner, whether by operation of law or otherwise, such Registrable Securities
shall be held subject to all the terms of this Agreement, and by taking and
holding such Registrable Securities such Person shall be conclusively deemed to
have agreed to be bound by and to perform all of the terms and provisions of
this Agreement and such Person shall be entitled to receive the benefits hereof.
The Initial Purchasers (in their capacity as Initial Purchasers) shall have no
liability or obligation to the Company or the Guarantors with respect to any
failure by a Holder to comply with, or any breach by any Holder of, any of the
obligations of such Holder under this Agreement.

         (e)      Purchases and Sales of Securities. The Company and the
Guarantors shall not, and shall use their reasonable best efforts to cause their
affiliates (as defined in Rule 405 under the Securities Act) not to, purchase
and then resell or otherwise transfer any Registrable Securities.

         (f)      Third Party Beneficiaries. Each Holder shall be a third party
beneficiary to the agreements made hereunder between the Company and the
Guarantors, on the one hand, and the Initial Purchasers, on the other hand, and
shall have the right to enforce such agreements directly to the extent it deems
such enforcement necessary or advisable to protect its rights or the rights of
other Holders hereunder.

         (g)      Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

         (h)      Headings. The headings in this Agreement are for convenience
of reference only, are not a part of this Agreement and shall not limit or
otherwise affect the meaning hereof.

         (i)      Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York.

                                       19

<PAGE>

         (j)      Miscellaneous. This Agreement contains the entire agreement
between the parties relating to the subject matter hereof and supersedes all
oral statements and prior writings with respect thereto. If any term, provision,
covenant or restriction contained in this Agreement is held by a court of
competent jurisdiction to be invalid, void or unenforceable or against public
policy, the remainder of the terms, provisions, covenants and restrictions
contained herein shall remain in full force and effect and shall in no way be
affected, impaired or invalidated. The Company, the Guarantors and the Initial
Purchasers shall endeavor in good faith negotiations to replace the invalid,
void or unenforceable provisions with valid provisions the economic effect of
which comes as close as possible to that of the invalid, void or unenforceable
provisions.

                                       20

<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first written above.

                                               GRANITE BROADCASTING
                                               CORPORATION

                                               By: /s/ Lawrence I. Wills
                                                   -----------------------------
                                                   Name:  Lawrence I. Wills
                                                   Title: Senior Vice President

                                      S-1

<PAGE>

                                               CHANNEL 11 LICENSE, INC.
                                               GRANITE RESPONSE TELEVISION, INC.
                                               KBJR LICENSE, INC.
                                               KBJR, INC.
                                               KBWB LICENSE, INC.
                                               KBWB, INC.
                                               KSEE LICENSE, INC.
                                               KSEE TELEVISION, INC.
                                               QUEEN CITY BROADCASTING OF NEW
                                                 YORK, INC.
                                               WEEK-TV LICENSE, INC.
                                               WKBW-TV LICENSE, INC.
                                               WPTA-TV LICENSE, INC.
                                               WPTA-TV, INC.
                                               WTVH LICENSE, INC.
                                               WXON LICENSE, INC.
                                               WXON, INC.

                                               By /s/ Lawrence I. Wills
                                                  -----------------------------
                                               Title: Vice President

                                      S-2

<PAGE>

                                        WTVH, LLC
                                        By: Granite Broadcasting Corporation,
                                            the Sole Member of WTVH, LLC

                                        By /s/ Lawrence I. Wills
                                           ----------------------------
                                           Title: Senior Vice President

                                      S-3

<PAGE>

Confirmed and accepted as of the date
first above written:

J.P. MORGAN SECURITIES INC.

For itself and on behalf of the
several Initial Purchasers

By /s/ Daniel M. Hochstadt
   ------------------------
       Authorized Signatory

                                      S-4<PAGE>

                                                                     EXHIBIT 4.3

                        GRANITE BROADCASTING CORPORATION

                                       TO

                              THE BANK OF NEW YORK,
                                   AS TRUSTEE

                                ----------------

                          FIRST SUPPLEMENTAL INDENTURE

                          DATED AS OF DECEMBER 19, 2003

                                       TO

                                    INDENTURE

                            DATED AS OF MAY 11, 1998

                                ----------------

                       8 - 7/8% SENIOR SUBORDINATED NOTES

                                DUE MAY 15, 2008

<PAGE>

         FIRST SUPPLEMENTAL INDENTURE, dated as of December 19, 2003 (this
"First Supplemental Indenture"), between Granite Broadcasting Corporation, a
Delaware corporation (the "Company"), and The Bank of New York, a New York
banking corporation, as trustee (the "Trustee").

         WHEREAS, the Company and the Trustee executed an Indenture, dated as of
May 11, 1998 between the Company and the Trustee (the "Indenture"), in respect
of the Company's 8-7/8% Senior Subordinated Notes due May 15, 2008 (the
"Notes");

         WHEREAS, Section 902 of the Indenture provides that modifications and
amendments to the Indenture may be made and indentures supplemental to the
Indenture may be entered into by the Company and the Trustee with the consent of
the holders (the "Holders") of not less than a majority in principal amount of
the Notes outstanding, except for certain specific events which require the
unanimous consent of the Holders of the Notes;

         WHEREAS, the Company undertook an offer to purchase and consent
solicitation pursuant to a statement dated December 9, 2003, offering to
purchase the Holders' Notes for cash and requesting that the Holders give their
consent to implement the amendments to the Indenture set forth in this First
Supplemental Indenture (the "Amendments");

         WHEREAS, the Company has received the consents of the Holders of not
less than a majority in principal amount outstanding of the Notes consenting to
the substance of the Amendments set forth in this First Supplemental Indenture;

         WHEREAS, all conditions and requirements necessary to make this First
Supplemental Indenture a valid, binding, and legal instrument in accordance with
the terms of the Indenture have been performed and fulfilled and the execution
and delivery hereof have been in all respects duly authorized; and

         WHEREAS, in accordance with the terms of the Indenture, the Company has
requested that the Trustee execute and deliver this First Supplemental
Indenture.

         NOW, THEREFORE, in consideration of the above premises, each party
agrees, for the benefit of the other and for the equal and ratable benefit of
the Holders of Notes, as follows:

                                    ARTICLE I

                                   AMENDMENTS

         Section 101. Indenture Amendments. The Indenture is hereby amended as
follows:

         (a) The table of contents of the Indenture is hereby amended by (i)
         replacing the heading "Mergers, Consolidations and Certain Sales of
         Assets" appearing next to Section 801 with the heading "[intentionally
         omitted]"; (ii) replacing the heading "Successor Substituted" appearing
         next to Section 802 with the heading "[intentionally omitted]"; (iii)
         replacing the heading "Limitation on Company Debt" appearing next to
         Section 1008 with the heading "[intentionally omitted]"; (iv) replacing
         the heading "Limitation on Certain Debt" appearing next to Section 1009
         with the heading "[intentionally omitted]";

                                       2

<PAGE>

         (v) replacing the heading "Limitation on Restricted Payments" appearing
         next to Section 1010 with the heading "[intentionally omitted]"; (vi)
         replacing the heading "Limitations Concerning Distributions by and
         Transfers to Subsidiaries" appearing next to Section 1011 with the
         heading "[intentionally omitted]"; (vii) replacing the heading
         "Limitation on Transactions with Affiliates" appearing next to Section
         1012 with the heading "[intentionally omitted]"; (viii) replacing the
         heading "Limitation on Certain Asset Dispositions" appearing next to
         Section 1013 with the heading "[intentionally omitted]"; (ix) replacing
         the heading "Limitation on Issuances and Sales of Capital Stock of
         Wholly Owned Subsidiaries" appearing next to Section 1014 with the
         heading "[intentionally omitted]"; (x) replacing the heading
         "Limitation on Liens Securing Company Subordinated Debt" appearing next
         to Section 1015 with the heading "[intentionally omitted]"; (xi)
         replacing the heading "Limitation on Guarantees of Company Subordinated
         Debt" appearing next to Section 1016 with the heading "[intentionally
         omitted]"; (xii) replacing the heading "Change of Control" appearing
         next to Section 1017 with the heading "[intentionally omitted]"; and
         (xiii) replacing the heading "Provision of Financial Information"
         appearing next to Section 1018 with the heading "[intentionally
         omitted]".

         (b) The definitions of "Asset Disposition", "Attributable Value",
         "Average Life", "Capital Lease Obligation", "Change of Control",
         "Consolidated Cash Flow", "Consolidated Income Tax Expense",
         Consolidated Interest Expense", "Consolidated Net Income",
         "Disqualified Stock", "Incur", "Investment", "Lien", "Local Marketing
         Agreement", "Net Available Proceeds", "Permitted Holder", "Permitted
         Television Investment", "Preferred Stock", "Pro Forma Consolidated Cash
         Flow" and "Sale and Leaseback Transaction", which are set forth in
         Section 101 of the Indenture are deleted in their entirety.

         (c) Sections 501(3), 501(4), 501(5) and 501(10) are each amended by
         deleting the text in its entirety and inserting in lieu thereof
         "[intentionally omitted]".

         (d) Article Eight is amended by deleting the text of Sections 801 and
         802 in their entirety and inserting in lieu thereof "[intentionally
         omitted]".

         (e) Sections 1008, 1009, 1010, 1011, 1012, 1013, 1014, 1015, 1016, 1017
         and 1018 are each amended by deleting the text in its entirety and
         inserting in lieu thereof "[intentionally omitted]".

         Section 102. Mutatis Mutandi Effect. The Indenture, as supplemented, is
hereby amended mutatis mutandi to reflect the amendment of each of the defined
terms incorporated in the Indenture pursuant to Section 101 above.

                                   ARTICLE II

                             MISCELLANEOUS PROVISONS

                                       3

<PAGE>

         Section 201. Terms Defined. For all purposes of this First Supplemental
Indenture, except as otherwise defined herein, capitalized terms used in this
First Supplemental Indenture shall have the meanings ascribed to such terms in
the Indenture.

         Section 202. Indenture. Except as amended hereby, the Indenture and the
Notes are in all respects ratified and confirmed and all their terms shall
remain in full force and effect. From and after the effectiveness of this First
Supplemental Indenture, any reference to the Indenture shall mean the Indenture
as so amended by this First Supplemental Indenture.

         Section 203. Governing Law. The internal laws of the State of New York
shall govern this First Supplemental Indenture, without regard to the principles
of conflicts of law thereof.

         Section 204. Successors. All agreements of the Company and the Trustee
in this First Supplemental Indenture, the Indenture and the Notes shall bind
their respective successors and assigns. This First Supplemental Indenture shall
be binding upon each Holder of Notes and their respective successors and
assigns.

         Section 205. Multiple Counterparts. The parties may sign multiple
counterparts of this First Supplemental Indenture. Each signed counterpart shall
be deemed an original, but all of them together shall represent the same
agreement.

         Section 206. Effective Date of this First Supplemental Indenture. This
First Supplemental Indenture and the Amendments to Sections 101, 501(3), 501(4),
501(5), 501(10), 801, 802, 1008, 1009, 1010, 1011, 1012, 1013, 1014, 1015, 1016,
1017 and 1018 shall be effective pursuant to Section 904 of the Indenture
immediately upon execution by the Company and delivery to and execution by the
Trustee of this First Supplemental Indenture.

         Section 207. Trustee Disclaimer. The Trustee accepts the amendment of
the Indenture effected by this First Supplemental Indenture and agrees to
execute the trust created by the Indenture as hereby amended, but only upon the
terms and conditions set forth in the Indenture, including the terms and
provisions defining and limiting the liabilities and responsibilities of the
Trustee, which terms and provisions shall in like manner define and limit its
liabilities and responsibilities in the performance of the trust created by the
Indenture as hereby amended. Without limiting the generality of the foregoing,
the Trustee shall not be responsible in any manner whatsoever for or with
respect to any of the recitals or statements contained herein, all of which
recitals or statements are made solely by the Company, or for or with respect to
(i) the validity, efficacy, or sufficiency of this First Supplemental Indenture
or any of the terms or provisions hereof, (ii) the proper authorization hereof
by the Company by corporate action or otherwise, or (iii) the due execution
hereof by the Company and the Trustee makes no representation with respect to
any such matters.

         Section 208. Separability Clause. In case of any clause of this First
Supplemental Indenture shall be invalid, illegal, or unenforceable, the
validity, legality, and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

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                                       4

<PAGE>

                                   SIGNATURES

         IN WITNESS WHEREOF, the parties hereto have caused this First
Supplemental Indenture to be duly executed, all as of the date first above
written.

                                         GRANITE BROADCASTING CORPORATION
                                           as Issuer

                                         By: /s/ Lawrence I. Wills
                                             -------------------------------
                                            Name:   Lawrence I. Wills
                                            Title:  Senior Vice President

                                         THE BANK OF NEW YORK
                                           as Trustee

                                         By: /s/ Julie Salovitch - Miller
                                             -------------------------------
                                            Name:   Julie Salovitch - Miller
                                            Title:  Vice President

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