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8-K
GRAHAM HOLDINGS CO filed this Form 8-K on 05/06/1994
Entire Document
 
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NOTE  3  -  PROPERTY,  PLANT  AND  EQUIPMENT

Property, plant and equipment consists of the following at December 31, 1993:

Buildings                                                        $10,211,193
Furniture, machinery and equipment                                44,149,929
                                                                  ----------
                                                                  54,361,122

Less accumulated depreciation                                    (47,705,084)
                                                                  ----------
                                                                   6,656,038
Land                                                               1,936,897
Construction in progress                                             123,604
                                                                  ----------
                                                                 $ 8,716,539
                                                                  ==========


Depreciation expense was $1,151,852 in 1993.

NOTE 4 - GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill and other intangible assets consist of the following at December 31,
1993:

Broadcast licenses and network affiliations                    $  47,821,993
Other intangibles                                                 33,653,544
Goodwill                                                          27,670,503
                                                                 -----------
                                                                 109,146,040
Less accumulated amortization                                    (19,821,738)
                                                                 -----------
                                                                $ 89,324,302
                                                                 ===========
Amortization expense was $3,143,614 in 1993.

NOTE 5 - RETIREMENT PLANS

H&C Communications, Inc. has a defined benefit pension plan which covers
substantially all of the Companies' employees and which is accounted for in
these financial statements as a multiemployer plan.  Contributions to the plan
are made solely by H&C Communications, Inc., in amounts deemed necessary and to
the extent deductible for federal income tax purposes.  For purposes of these
financial statements, the Companies are required to recognize as net pension
expense total contributions for the period.  For the year ended December 31,
1993, pension expense was $459,000.

H&C Communications, Inc. also has a qualified savings plan under which
employees of the Companies can invest up to 16% of earnings.  The Companies
will match one-fourth of the employee's contribution up to 6% of the employee's
total compensation.  The Companies' contribution was $154,977 in 1993.

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