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Investor Relations

SEC Filings

8-K
GRAHAM HOLDINGS CO filed this Form 8-K on 05/06/1994
Entire Document
 
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NOTE  6  -  COMMITMENTS AND CONTINGENT LIABILITIES

The Companies have entered into contractual commitments in the ordinary course
of business for the rights to acquire broadcast program material not yet
available for broadcast as of December 31, 1993.  Under these agreements, the
Companies must make specific minimum payments which are approximately as
follows:

Year ending December 31,
- - -----------------------

         1994                                             $  754,000
         1995                                              2,162,000
         1996                                                851,000
         1997                                                312,000
         1998                                                312,000
         1999 and thereafter                                 208,000
                                                          ----------
                                                          $4,599,000
                                                          ==========

The Companies have entered into various employment contracts.  Commitments for
future payments under such contracts as of December 31, 1993 are approximately
as follows:

Year ending December 31,
- - -----------------------

         1994                                             $2,012,000
         1995                                                808,000
         1996                                                 61,000
                                                          ----------
                                                          $2,881,000
                                                          ==========

The Companies have commitments under operating leases for certain machinery,
equipment and facilities used in operations.  Certain leases also contain
provisions for renewal or extension.  Future minimum lease payments under
operating leases which have remaining noncancelable lease terms in excess of
one year as of December 31, 1993 are approximately as follows:

Year ending December 31,
- - -----------------------

         1994                                               $486,000
         1995                                                100,000
         1996                                                 34,000
         1997                                                  4,000
                                                            --------
                                                            $624,000
                                                            ========

Rental expense was $676,075 in 1993.

The Companies currently and from time to time are involved in litigation
incidental to the conduct of its business.  The Companies are not a party to a
lawsuit or proceedings which, in the opinion of management, is likely to have a
material adverse effect on the Companies.



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