1. The Online Opportunity: Doing the Deal April 20, 2006 Introduction by Gordon Borrell, CEO

2. Growth of Local Online Adv. Since 1998 © 2006 Borrell Associates Inc.

3. TV Web Site Revenue Growth, 2002-2006 projected ($ in Millions) © 2006 Borrell Associates Inc. Source: Borrell Associates, Inc.

4. Some Local Sites Now Larger Than Biggest Radio Station in Mkt. © 2006 Borrell Associates Inc.

5. The Web’s Contribution to TV for Eight Station Groups © 2006 Borrell Associates Inc. Source: company reports to Borrell Associates, Inc. Nov. 2005

6. © 2006 Borrell Associates Inc. TV Web Site Share of Local Online Advertising in the DMA, 2005

7. TV Web Site Profitability Average margin +29.6% 65% were profitable, 35% were not Of the profitable sites, avg. margin was 79% Confidence level in reporting: 93% © 2006 Borrell Associates Inc.

8. Ad Categories Expected to be Top 3 Growth Areas in 2006 © 2006 Borrell Associates Inc. Source: Borrell Associates, Inc.