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Posted: Mon., Oct. 1, 2001, 6:46pm PT

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Granite seeks sale of Detroit WB affil

Broadcaster looks for buyer

NEW YORK -- Granite Broadcasting said Monday it has retained investment bank Goldman Sachs to look for a buyer for WDWB-TV, Granite's WB affiliate in Detroit, the nation's 10th largest television market.

Granite said proceeds from the sale will go toward reducing debt.

The Gotham-based company's stock rose 7.14% to $1.50 on Monday.

Granite owns nine stations covering 7% of TV households.

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