For example, this portion of a letter filed with the FCC trying to get an extension to build their DTV facilities back in 2003:


I. The Financial Condition of WKBW-TV License Delayed the Initial Development and Implementation of its Plan for DTV Buildout.

WKBW-TV License was unable to proceed with its DTV buildout until May 2002 due to its financial condition. By way of background, on June 11, 2002, the Bureau granted WKBWTV
License an extension of its DTV construction permit based on WKBW-TV License’s showing that it was unable to complete construction of its DTV facilities and commence DTV operations by May 2002 due to the financial condition of its parent, Granite Broadcasting Corporation (“Granite”). In its initial extension request (“First Extension Request”), WKBWTV License demonstrated that Granite lacked sufficient cash on hand to finance the Station’s DTV buildout and was not able to borrow the needed capital. WKBW-TV License further stated that Granite expected to use the proceeds from the April 30, 2002 sale of television station KNTV, San Jose, California (“KNTV”) to retire a portion of its debt and subsequently secure a new credit line which would enable it to support the DTV conversion of its stations...