**Schedule      1.01**

**SALE      AMOUNTS**

| Market                                  |   | Station                                      |   | Sale                  Amount (000's) |    |
|-----------------------------------------|--------|----------------------------------------------|--------|-------------------------------------------|---------|
| Atlanta                                 |   | WYGA                                         |   |                                      | 2,000   |   |
| Detroit                                 |   | WUDT                                         |   |                                      | 2,000   |   |
| Seattle                                 |   | KUSE-LP                                      |   |                                      | 2,000   |   |
| Minneapolis                             |   | WUMN,                  WTMS                  |   |                                      | 2,000   |   |
| Gainesville                             |   | W56EJ                                        |   |                                      | 400     |   |
| Nashville                               |   | WNTU                                         |   |                                      | 2,000   |   |
| Kansas                  City            |   | KUKC-LP                                      |   |                                      | 2,000   |   |
| Salt                  Lake City         |   | KUTF/KCBU/KBJC                  and 4 LPTV's |   |                                      | 12,000  |   |
| West                  Palm Beach        |   | WSLF-LP                                      |   |                                      | 1,000   |   |
| Grand                  Rapids           |   | WUHQ                                         |   |                                      | 300     |   |
| Las                  Vegas              |   | KEGS/KBNY                  and 2 LPTV's      |   |                                      | 8,000   |   |
| Oklahoma                  City/Tulsa    |   | KUOK/KUTU                  and 4 LPTV's      |   |                                      | 5,000   |   |
| Buffalo                                 |   | WNGS                                         |   |                                      | 5,000   |   |
| Little                  Rock            |   | KKYK/KWBF                  and 8 LPTV's      |   |                                      | 6,000   |   |
| Lexington                               |   | WBLU                                         |   |                                      | 500     |   |
| Ft.                  Myers/Naples       |   | 5                  LPTV's                    |   |                                      | 12,500  |   |
| Springfield,                  MO        |   | KWBM                  and 2 LPTV's           |   |                                      | 3,000   |   |
| Spokane                                 |   | KQUP                  and 1 LPTV             |   |                                      | 4,000   |   |
| Syracuse                                |   | WNYI                                         |   |                                      | 2,500   |   |
| Cedar                  Rapids/Waterloo  |   | KWWF                                         |   |                                      | 3,000   |   |
| Burlington                              |   | WGMU-CA                                      |   |                                      | 1,000   |   |
| Waco/Temple/Bryan                       |   | 2                  LPTV's                    |   |                                      | 4,000   |   |
| Ft.                  Smith/Fayetteville |   | KPBI                  and 19 LPTV's          |   |                                      | 4,500   |   |
| Reno                                    |   | KRRI-LP                                      |   |                                      | 300     |   |
| Roseburg/Eugene                         |   | KTVC                  and 1 LPTV             |   |                                      | 1,500   |   |
| Amarillo                                |   | KEYU                  and 5 LPTV's           |   |                                      | 7,500   |   |
| Monroe/El                  Dorado       |   | K55JY                                        |   |                                      | 600     |   |
| Wichita                  Falls/Lawton   |   | 3                  LPTV's                    |   |                                      | 2,000   |   |
| Panama                  City            |   | WBIF                                         |   |                                      | 2,000   |   |
| Missoula                                |   | KMMF                  and 2 LPTV's           |   |                                      | 2,000   |   |
| Dothan                                  |   | W23DJ/WDTH-LP                                |   |                                      | 500     |   |
| Marquette                               |   | WMQF                                         |   |                                      | 1,000   |   |
| Great                  Falls            |   | KLMN                                         |   |                                      | 2,000   |   |
| Butte/Bozeman                           |   | KBTZ                  and 2 LPTV's           |   |                                      | 2,000   |   |
| Cheyenne/Scottsbluff                    |   | KKTU/KTUW                                    |   |                                      | 1,150   |   |
| Cheyenne/Denver                         |   | KDEV                  and 3 LPTV's           |   |                                      | 5,000   |   |
| TOTAL                  STATION VALUE    |   |                                         |   |                                      | 112,250 |   |

----

**Schedule      2.01**

**Allocation      of Loans and Commitments**

| **Lender**                                |   | **Revolving****Credit****Commitment** |             | **Percentage****Revolving****Credit****Commitments** |   |  **Term                Loan A****Commitment** |   | **Percentage****Term                Loan A****Commitments** |              | **Term                Loan B****Commitment** |   | **Percentage****Term                Loan B****Commitments** |   |
|-------------------------------------------|--------|---------------------------------------|------------------|------------------------------------------------------|--------|----------------------------------------------------|--------|-------------------------------------------------------------|-------------------|----------------------------------------------|--------|-------------------------------------------------------------|--------|
| FIELD                POINT III, LTD.      |   | $                                     | 0                |                                                 |   | 0                                                  | %      | $                                                           | 0                 |                                         |   | 0                                                           | %      | $ | 4,408,268.20 |   |   | 13.3583885 | % |
| FIELD                POINT IV, LTD.       |   | $                                     | 0                |                                                 |   | 0                                                  | %      | $                                                           | 0                 |                                         |   | 0                                                           | %      | $ | 4,179,307.01 |   |   | 12.6645667 | % |
| SPF                CDO I, LLC             |   | $                                     | 0                |                                                 |   | 0                                                  | %      | $                                                           | 0                 |                                         |   | 0                                                           | %      | $ | 7,379,311.04 |   |   | 22.3615486 | % |
| SPCP                Group, LLC            |   | $                                     | 0                |                                                 |   | 0                                                  | %      | $                                                           | 0                 |                                         |   | 0                                                           | %      | $ | 17,033,113.75 |   |   | 51.6154962 | % |
| WELLS                FARGO FOOTHILL, INC. |   | $                                     | 8,000,000        |                                                 |   | 100                                                | %      | $                                                           | 12,000,000        |                                         |   | 100                                                         | %      | $ | 0 |   |   | 0 | % |
| **TOTAL**                                 |   | **$**                                 | **8,000,000.00** |                                                 |   | **100**                                            | **%**  | **$**                                                       | **12,000,000.00** |                                         |   | **100**                                                     | **%**  | **$** | **33,000,000.00** |   |   | **100** | **%** |

----

**Schedule      2.02**

**Notice      of Conversion or Continuation**

| Re: | Notice                of Conversion or Continuation under the Third Amended and Restated                Credit                Agreement dated as of February 13, 2008 among Equity Media Holdings                Corporation, a Delaware corporation (successor-by-merger to Equity                Broadcasting Corporation, an Arkansas corporation), and certain of                its                affiliates (collectively, "Borrowers", and each individually, a                "Borrower"), the Lenders from time to time party thereto, Wells Fargo                Foothill, Inc., as Collateral Agent for the Lenders, and Silver Point                Finance, LLC, as Administrative Agent and Documentation Agent for                the                Lenders (as amended, restated, renewed, replaced, supplemented or                otherwise modified from time, the "Credit                Agreement") |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Section 2.02**

|  | o | convert                  $_________ in aggregate principal amount of outstanding Base Rate                  Loans to                  LIBOR Loans on _____________. The initial Interest Period for such                  LIBOR                  Loans is requested to be a ________ (___) month period commencing                  on                  ______________. |
|--|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | o | convert                  $_________ in aggregate principal amount of outstanding LIBOR Loans                  with a                  current Interest Period ending _____________ to Base Rate Loans                  on such                  date. |
|--|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | o | continue                  as LIBOR Loans $_________ in aggregate principal amount of presently                  outstanding LIBOR Loans with a current Interest Period ending __________.                  The succeeding Interest Period is requested to be a ________ (___)                  month                  period commencing on                  ______________. |
|--|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| **EQUITY                  MEDIA HOLDINGS CORPORATION**                                              |
|-----------------------------------------------------------------------------------------------------|
| **ARKANSAS                  49, INC.**                                                              |
| **BORGER                  BROADCASTING, INC.**                                                      |
| **DENVER                  BROADCASTING, INC.**                                                      |
| **EBC                  HARRISON, INC.**                                                             |
| **EBC                  PANAMA CITY, INC.**                                                          |
| **EBC                  SCOTTSBLUFF, INC.**                                                          |
| **EQUITY                  NEWS SERVICES, INC., f/k/a Hispanic News Network,                  Inc.** |
| **FORT                  SMITH 46, INC.**                                                            |
| **LOGAN                  12, INC.**                                                                 |
| **MARQUETTE                  BROADCASTING, INC.**                                                   |
| **NEVADA                  CHANNEL 3, INC.**                                                         |
| **NEWMONT                  BROADCASTING CORPORATION**                                               |
| **PRICE                  BROADCASTING, INC.**                                                       |
| **PULLMAN                  BROADCASTING INC.**                                                      |
| **REP                  PLUS, INC.**                                                                 |
| **RIVER                  CITY BROADCASTING, INC.**                                                  |
| **ROSEBURG                  BROADCASTING, INC.**                                                    |
| **TV                  34, INC.**                                                                    |
| **VERNAL                  BROADCASTING, INC.**                                                      |
| **WOODWARD                  BROADCASTING, INC. EBC MINNEAPOLIS, INC.**                              |
| **EBC                  DETROIT, INC.**                                                              |
| **EBC                  BUFFALO, INC.**                                                              |
| **EBC                  WATERLOO, INC.**                                                             |
| **EBC                  ATLANTA, INC.**                                                              |
| **EBC                  SEATTLE, INC.**                                                              |
| **EBC                  KANSAS CITY, INC.**                                                          |
| **EBC                  SYRACUSE, INC.**                                                             |
| **NEVADA                  CHANNEL 6, INC.**                                                         |
| **EBC                  PROVO, INC.**                                                                |
| **EBC                  SOUTHWEST FLORIDA, INC.**                                                    |
| **EBC                  LOS ANGELES, INC.**                                                          |
| **C.A.S.H. SERVICES, INC. f/k/a Skyport Services, Inc.**              |
| **EBC                  NASHVILLE, INC.**                                                            |
| **EBC                  JACKSONVILLE,                  INC.**                                   |

| By:    |                                                                                                |
|--------|-----------------------------------------------------------------------------------------------------|
|   | James** **H.** **Hearnsberger,** **Vice** **President** **of** **each |

----

**Schedule      2.03**

**LOAN      REQUEST**

| Re:  | Loan                Request under the Third Amended and Restated Credit Agreement dated                as of                February 13, 2008 among Equity Media Holdings Corporation, a Delaware                corporation (successor-by-merger to Equity Broadcasting Corporation,                an                Arkansas corporation), and certain of its affiliates (collectively,                "Borrowers", and each individually, a "Borrower"), the Lenders from                time                to time party thereto, Wells Fargo Foothill, Inc., as Collateral                Agent for                the Lenders, and Silver Point Finance, LLC, as Administrative Agent                and                Documentation Agent for the Lenders (as amended, restated, renewed,                replaced, supplemented or otherwise modified from time, the "Credit                Agreement") |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Section 2.17**

----

**Article      V**
**Section      6.05**

| **EQUITY                  MEDIA HOLDINGS CORPORATION**                                                 |
|--------------------------------------------------------------------------------------------------------|
| **ARKANSAS                  49, INC.**                                                                 |
| **BORGER                  BROADCASTING, INC.**                                                         |
| **DENVER                  BROADCASTING, INC.**                                                         |
| **EBC                  HARRISON, INC.**                                                                |
| **EBC                  PANAMA CITY, INC.**                                                             |
| **EBC                  SCOTTSBLUFF, INC.**                                                             |
| **EQUITY                  NEWS SERVICES, INC., f/k/a****Hispanic                  News Network, Inc.** |
| **FORT                  SMITH 46, INC.**                                                               |
| **LOGAN                  12, INC.**                                                                    |
| **MARQUETTE                  BROADCASTING, INC.**                                                      |
| **NEVADA                  CHANNEL 3, INC.**                                                            |
| **NEWMONT                  BROADCASTING CORPORATION**                                                  |
| **PRICE                  BROADCASTING, INC.**                                                          |
| **PULLMAN                  BROADCASTING INC.**                                                         |
| **REP                  PLUS, INC.**                                                                    |
| **RIVER                  CITY BROADCASTING, INC.**                                                     |
| **ROSEBURG                  BROADCASTING, INC.**                                                       |
| **TV                  34, INC.**                                                                       |
| **VERNAL                  BROADCASTING, INC.**                                                         |
| **WOODWARD                  BROADCASTING, INC.**                                                       |
| **EBC                  MINNEAPOLIS, INC.**                                                             |
| **EBC                  DETROIT, INC.**                                                                 |
| **EBC                  BUFFALO, INC.**                                                                 |
| **EBC                  WATERLOO, INC.**                                                                |
| **EBC                  ATLANTA, INC.**                                                                 |
| **EBC                  SEATTLE, INC.**                                                                 |

----

| **EBC                  KANSAS CITY, INC.**                                                                            |
|-----------------------------------------------------------------------------------------------------------------------|
| **EBC                  SYRACUSE, INC.**                                                                               |
| **NEVADA                  CHANNEL 6, INC.**                                                                           |
| **EBC                  PROVO, INC.**                                                                                  |
| **EBC                  SOUTHWEST FLORIDA, INC.**                                                                      |
| **EBC                  LOS ANGELES, INC.**                                                                            |
| **C.A.S.H.                  SERVICES, INC. f/k/a Skyport****    Services,                  Inc.** |
| **EBC                  NASHVILLE, INC.**                                                                              |
| **EBC                  JACKSONVILLE, INC.**                                                                           |

| By:    |                                                                                                |
|--------|-----------------------------------------------------------------------------------------------------|
|   | James** **H.** **Hearnsberger,** **Vice** **President** **of** **each |

----

**Schedule      2.05(a)**

**COMMITMENT      REDUCTION NOTICE**

| Re:  | Commitment                Reduction Notice under the Third Amended and Restated Credit Agreement                dated as of February 13, 2008 among Equity Media Holdings Corporation,                a                Delaware corporation (successor-by-merger to Equity Broadcasting                Corporation, an Arkansas corporation), and certain of its affiliates                (collectively, "Borrowers", and each individually, a "Borrower"),                the                Lenders from time to time party thereto, Wells Fargo Foothill, Inc.,                as                Collateral Agent for the Lenders, and Silver Point Finance, LLC,                as                Administrative Agent and Documentation Agent for the Lenders (as                amended,                restated, renewed, replaced, supplemented or otherwise modified from                time,                the "Credit Agreement") |
|-----------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Section      2.05(a)**
*[permanently      terminate/permanently reduce]*
*[in      the aggregate amount of $____________]*

| **EQUITY                  MEDIA HOLDINGS CORPORATION** |
|--------------------------------------------------------|
| **ARKANSAS                  49, INC.**                 |
| **BORGER                  BROADCASTING, INC.**         |
| **DENVER                  BROADCASTING, INC.**         |
| **EBC                  HARRISON, INC.**                |
| **EBC                  PANAMA CITY, INC.**             |
| **EBC                  SCOTTSBLUFF, INC.**             |

----

| **EQUITY                  NEWS SERVICES, INC., f/k/aHispanic News Network,                  Inc.** |
|----------------------------------------------------------------------------------------------------|
| **FORT                  SMITH 46, INC.**                                                           |
| **LOGAN                  12, INC.**                                                                |
| **MARQUETTE                  BROADCASTING, INC.**                                                  |
| **NEVADA                  CHANNEL 3, INC.**                                                        |
| **NEWMONT                  BROADCASTING CORPORATION**                                              |
| **PRICE                  BROADCASTING, INC.**                                                      |
| **PULLMAN                  BROADCASTING INC.**                                                     |
| **REP                  PLUS, INC.**                                                                |
| **RIVER                  CITY BROADCASTING, INC.**                                                 |
| **ROSEBURG                  BROADCASTING, INC.**                                                   |
| **TV                  34, INC.**                                                                   |
| **VERNAL                  BROADCASTING, INC.**                                                     |
| **WOODWARD                  BROADCASTING, INC.**                                                   |
| **EBC                  MINNEAPOLIS, INC.**                                                         |
| **EBC                  DETROIT, INC.**                                                             |
| **EBC                  BUFFALO, INC.**                                                             |
| **EBC                  WATERLOO, INC.**                                                            |
| **EBC                  ATLANTA, INC.**                                                             |
| **EBC                  SEATTLE, INC.**                                                             |
| **EBC                  KANSAS CITY, INC.**                                                         |
| **EBC                  SYRACUSE, INC.**                                                            |
| **NEVADA                  CHANNEL 6, INC.**                                                        |
| **EBC                  PROVO, INC.**                                                               |
| **EBC                  SOUTHWEST FLORIDA, INC.**                                                   |
| **EBC                  LOS ANGELES, INC.**                                                         |
| **C.A.S.H.                  SERVICES, INC. f/k/a SkyportServices, Inc.**                           |
| **EBC                  NASHVILLE, INC.**                                                           |
| **EBC                  JACKSONVILLE, INC.**                                                        |

| By:    |                                                                                                |
|--------|-----------------------------------------------------------------------------------------------------|
|   | James** **H.** **Hearnsberger,** **Vice** **President** **of** **each |

----

**Schedule      2.16(a)**

**EXCEPTIONS      TO SECURITY**

----

**Schedule      2.17**

**USE      OF PROCEEDS**

----

**Schedule      3.01**

**OMNIBUS      OFFICERS' CERTIFICATE**

**A.      **
**Document      Certification and Incumbency**

**DO      HEREBY CERTIFY**

| Name                                       |   | Office                              |   | Signature |
|--------------------------------------------|--------|-------------------------------------|--------|-----------|
|                                       |   | President                      |   |      |
| James                H. Hearnsberger  |   | Vice                President  |   |      |
|                                       |   | Secretary                      |   |      |

**Exhibit      A**

**Exhibit      B**

**Exhibit      C**

----

----

**B.      **
**Certifications      as to Satisfaction of Conditions, No Default, Etc.**

**Schedule      4.17**

----

**Schedule      4.02 **

**ORGANIZATION,      QUALIFICATION, ETC.**

----

----

**INACTIVE      SUBSIDIARIES**

----

**Schedule      4.04**

**GOVERNMENTAL      AND OTHER CONSENTS**

----

**Schedule      4.05**

**LITIGATION**

----

**Schedule      4.06**

**COMPLIANCE      WITH LAWS AND AGREEMENTS**

----

**Schedule      4.07 **

**LICENSES**

**Full      Power Television**

**KPBI-TV**
**Facility      ID 81593**

**KKYK(TV)**
**Facility      ID 86534**

*4/18/2008*

**KWBF(TV),      Facility Id No. 37005**

|   |   | (Channel                42/44D –Digital CP expired *11/18/2007*–                extension request filed) |
|--------|--------|----------------------------------------------------------------------------------------------------------------------|

|   |   | (On                air with Digital STA) |
|--------|--------|------------------------------------------|

**KQUP(TV)**
**Facility      ID 78921**

|   |   | (Channel                24 – Digital On Channel CP expires *7/16/2008***–                FCC**is                to extend to 2/17/2009) |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

**KEGS-TV**
**Facility      ID 86201**

|   |   | (Channel                7/50D) |
|--------|--------|--------------------------------|

**KBNY(TV)**
**Facility      ID 86538**

|   |   | (Channel                6/27D) (CP for Channel 6 tolled) (NPRM to move to Caliente, Nevada                still                pending) |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------|

**KEYU-DT,      Facility ID 83715**

|   |   | (Channel                31D) (license renewal pending) |
|--------|--------|--------------------------------------------------------|

**KBTZ(TV)      Facility ID 81438**

|   |   | **KLMN(TV),                Facility ID 81331**,                Great Falls, MT (Channel 26) (License Renewal Pending) (STA Pending)*;                and |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   | **KMMF(TV)                Facility ID 81348**,                Missoula, MT (Channel 17) (License Renewal                Pending)*; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------|

**KUTF(TV),      Facility ID 69694**

**KBCJ(TV),      Facility ID 83729**

**KDEV(TV)**
**Facility      ID 18287**

----

**WMQF(TV),      Facility ID 81448**

**KTVC(TV)**
**Facility      ID 31437**

**KCBU(TV),**
**Facility      ID 84277**

**KUOK(TV),      Facility ID 86532**
*2/17/2009*

**KTUW-DT**
**Facility      ID 136747**

**WBIF(TV),      Facility ID 81594**

|   |   | (Channel                51) |
|--------|--------|-----------------------------|

**KWBM(TV),      Facility ID 78314**

|   |   | (Channel                31) |
|--------|--------|-----------------------------|

**WNYI(TV),      Facility ID 34329**

|   |   | (Channel                52/Digital Channel 20) (license renewal                pending) |
|--------|--------|-----------------------------------------------------------------------------------------|

**KWWF(TV),      Facility ID 81595**

|   |   | (Channel                22) (license renewal pending) |
|--------|--------|-------------------------------------------------------|

**WNGS(TV),      Facility ID 9088**

|   |   | (Channel                67/Digital Channel 7) |
|--------|--------|-----------------------------------------------|

**Low      Power Television/Class A stations**

| Call                    Sign                                                       | Facility                    ID | Community                    of License |   |
|------------------------------------------------------------------------------------|--------------------------------|-----------------------------------------|--------|
| KHTE-LP                                                                            | 57549                          | Little                    Rock, AR      |   |
| (Channel                    44) (STA with 1 kw from other site expires 12/27/2007) |
| (Displacement                    to Channel 50 expires 6/20/2009)                  |
| (Digital                    Channel 41 – 167228 – MX Group PENDING)    |
| KRRI-LP                                                                            | 60463                          | Reno,                    NV             |   |
| (Channel                    25)                                                    |                           |                                    |   |
| W63DB                                                                              | 129169                         | Williston,                    FL        |   |
| (Channel                    63)                                                    |                           |                                    |   |
| WJXF-LP                                                                            | 26252                          | Jackson,                    MS          |   |
| (Channel                    49) (license renewal pending)                          |                           |
| WJMF–LP                                                                      | 26253                          | Jackson,                    MS          |   |
| (Channel                    53) (displacement to 19 CP expires 7/16/2010)          |
| W56EJ                                                                              | 129987                         | Williston,                    FL        |   |
| (Channel                    56) (reduced facilities)                               |
| WDTH-LP                                                                            | 130076                         | Dothan,                    AL           |   |
| (Channel                    59)                                                    |                           |                                    |   |
| K38IP                                                                              | 131310                         | Amarillo,                    TX         |   |
| (Channel                    38)                                                    |                           |                                    |   |

----

| K64GJ                                                                              | 127214 | Lawton,                    OK        |   |
|------------------------------------------------------------------------------------|--------|--------------------------------------|--------|
| (Channel                    64) (Displacement to Channel 23 expires 1/19/2010)     |
| K06OF                                                                              | 128382 | Vernal,                    UT        |   |
| (Channel                    6) (CP expires 8/17/2008)                              |
| K33IF                                                                              | 129067 | Delhi,                    LA         |   |
| (Channel                    33) (CP expires 8/17/2008)                             |
| KTWW-LP                                                                            | 130391 | Wichita                    Falls, TX |   |
| (Channel                    68) (Displacement on Channel 14 expires 1/19/2010)     |
| KUWF-LP                                                                            | 125062 | Wichita                    Falls, TX |   |
| (Channel                    36)                                                    |   |                                 |   |
| K38IY                                                                              | 128745 | Batesville,                    AR    |   |
| (Channel                    38) (Expires 8/17/2008)                                |
| K32HT                                                                              | 129593 | El                    Dorado, AR     |   |
| (Channel                    32) (License application pending) (Reduced facilities) |
| K47JG                                                                              | 129588 | El                    Dorado, AR     |   |
| (Channel                    47) (reduced facilities)                               |
| K15HI                                                                              | 128899 | Bozeman,                    MT       |   |
| (Channel                    15) (reduced facilities)                               |   |                                 |
| W23DJ                                                                              | 128868 | Dothan,                    AL        |   |
| (Channel                    23) (reduced facilities)                               |   |                                 |
| KLRA-LP                                                                            | 57548  | Little                    Rock, AR   |   |
| (Channel                    58)                                                    |   |
| KWDW-LP                                                                            | 36850  | Oklahoma                    City, OK |   |
| (Channel                    48)                                                    |   |                                 |   |
| KWBF-LP                                                                            | 24263  | Sheridan,                    AR      |   |
| (Channel                    47)                                                    |   |                                 |   |

| EMHC                    is the 100% parent of the following unless otherwise                    noted: |
|--------------------------------------------------------------------------------------------------------|
|                                                                                                   |   |   |   |
| Arkansas                    49, Inc., licensee/permittee of the                    following:          |

| Call                    Sign                                                                                                                      | Facility                    ID | Community                    of License |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------|-----------------------------------------|--------|
| KKYK-CA                                                                                                                                           | 57545                          | Little                    Rock, AR      |   |
| (Channel                    20) (License renewal pending) (STA expired 11/3/2007)                                                                 |                           |
| KTVV-LP(CA)                                                                                                                                       | 57547                          | Hot                    Springs, AR      |   |
| (Channel                    63) (License renewal pending)(Displacement CP for Channel 18                    expires                    1/19/2010) |                           |
| KWBK-LP                                                                                                                                           | 39151                          | Pine                    Bluff, AR       |   |
| (Channel                    45)                                                                                                                   |                           |                                    |   |

| Ft.                    Smith 46, Inc., licensee of the following (Grouped by                    rebroadcast): |
|---------------------------------------------------------------------------------------------------------------|

| Call                    Sign                                                                            | Facility                    ID | Community                    of License    |   |
|---------------------------------------------------------------------------------------------------------|--------------------------------|--------------------------------------------|--------|
| KFDF-CA                                                                                                 | 52418                          | Ft.                    Smith, AR (Class A) |   |
| (Channel                    10) (License renewal pending)                                               |
| (Digital                    Channel 44 CP expires 10/23/2009 – Fac. ID                    168154) |

----

| K33HE                                                                                                                                                                                                                                     | 58284       | Ft.                    Smith, AR                |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------|-------------------------------------------------|--------|
| (Channel                    33)                                                                                                                                                                                                           |        |                                            |   |
| KFFS-CA                                                                                                                                                                                                                                   | 52430       | Fayetteville,                    AR (Class A)   |   |
| (Channel                    36) (License renewal pending)                                                                                                                                                                                 |
| KPBI-CA                                                                                                                                                                                                                                   | 52429       | Ft.                    Smith, AR (Class A)      |   |
| (Channel                    46) (License renewal pending)                                                                                                                                                                            |
| KRAH-CA                                                                                                                                                                                                                                   | 52423       | Paris,                    AR (Class A)          |   |
| (Channel                    60) (License renewal pending)                                                                                                                                                                                 |
| (Digital                    Channel 10 CP expires 10/12/2009 – Fac. Id 168152)                                                                                                                                                      |
| KJBW-CA                                                                                                                                                                                                                                   | 52419       | Springdale,                    AR (Class A)     |   |
| (Channel                    4) (License renewal pending) (Minor power change CP expires                    5/16/2010)                                                                                                                     |
| (Digital                    Channel 30 CP pending – Facility ID 168157)                                                                                                                                                             |
| K66FM                                                                                                                                                                                                                                     | 14383       | Fort                    Smith, AR               |   |
| (Channel                    66) (CP Displacement to Channel 28 expires 1/19/2010)                                                                                                                                                         |
| (Digital                    Channel 26 pending – Facility ID 168155)                                                                                                                                                                |
| K32GH                                                                                                                                                                                                                                     | 14384  | Fort                    Smith, AR               |   |
| (Channel                    32)                                                                                                                                                                                                           |        |                                            |   |
| KEGW-LP                                                                                                                                                                                                                                   | 48534       | Fayetteville,                    AR             |   |
| (Channel                    64)                                                                                                                                                                                                           |        |                                            |   |
| KUFS-LP                                                                                                                                                                                                                                   | 58281       | Ft.                    Smith, AR                |   |
| (Channel                    54)                                                                                                                                                                                                           |        |                                            |   |
| KWNL-CA                                                                                                                                                                                                                                   | 52426       | Winslow,                    AR (Class A)        |   |
| (Channel                    9) (Channel 31 CP expires 7/16/2010) (STA on 31 from Ch. 9 site                    expired                    10/19/2007)                                                                                     |
| (Digital                    Channel 31 CP expires 10/23/2009 – Facility ID 168156)                                                                                                                                                  |
| K48FL                                                                                                                                                                                                                                     | 14387       | Ft.                    Smith, AR                |   |
| (Channel                    48)                                                                                                                                                                                                           |        |                                            |   |
| KRBF(CA)                                                                                                                                                                                                                                  | 52424       | Hindsville,                    AR (Class A)     |   |
| (Channel                    59) (License renewal pending) (Displacement CP for Channel 40                    expires                    1/24/2008) (Digital Channel 35 application granted – Facility ID                    168153) |
| KSJF-CA                                                                                                                                                                                                                                   | 52425       | Poteau,                    OK (Class A)         |   |
| (Channel                    50)                                                                                                                                                                                                           |        |                                            |   |
| KKAF-CA                                                                                                                                                                                                                                   | 52432       | Siloam                    Springs, AR (Class A) |   |
| (Channel                    33) (License renewal pending)                                                                                                                                                                                 |        |
| KHMF-CA                                                                                                                                                                                                                                   | 52420       | Bentonville,                    AR (Class A)    |   |
| (Channel                    14) (License renewal pending)                                                                                                                                                                                 |
| KXUN-LP                                                                                                                                                                                                                                   | 14386       | Fort                    Smith, AR               |   |
| (Channel                    43)                                                                                                                                                                                                           |        |                                            |   |

** **

----

----

----

----

**Schedule      4.08**

**FCC      PROCEEDINGS**

----

**Schedule      4.09**

**TITLE      TO PROPERTIES, CONDITIONS OF PROPERTIES; **

**PROPRIETARY      RIGHTS, ETC.**

**REAL      PROPERTY FEE OWNERSHIP**

**REAL      PROPERTY AND OPERATING LEASES**

|   | 1. | Lease                Agreement with Telecom Towers, LLC and assigned to American Tower                Corporation and Arkansas 49, Inc. commencing on September 23, 2003                for                five years. (KKYK) |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Site                Agreement, dated August 26, 2004, between Arkansas 49, Inc. and ABG                Arkansas, LLC for fifteen years. (KWBK-LP) |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Hot                Springs, AR Radio Tower Lease by and between Arkansas 49, Inc. and                C &                W Communications, Inc., commencing on February 1, 2003 for one year.                Rent                in monthly amount of $750.00.                (KTVV-LP) |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | Antenna                lease between Signal Media Corporation, as licensor and Las Vegas                Media,                LLC, as assigned to Arkansas 49, Inc., as licensee, dated November                1995                for and extended until June 30, 2011.                (KKYK-CA) |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Lease                by and between F&A Realty Amarillo, LTD. and Borger Broadcasting,                Inc., dated April 16, 2004 for Amarillo office. Lease expires April                30,                2011. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Lease                Agreement by and between American Tower L.P. and Borger Broadcasting,                Inc.                dated February 27, 2004 for KEYU transmission site. Lease for ten                year                period. (KEYU, KEYU-LP, KAMT-LP) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 3. | Antenna                Site License Agreement, dated May 15, 2000 between Loutex Amarillo,                L.P.                and UVN Texas, L.P. and assigned to Borger Broadcasting, Inc. on                a month                to month basis. (KEAT-LP) |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | License                Agreement, dated January 30, 2007, by and between American Towers,                L.P.                and Borger Broadcasting, Inc. for a ten year period.                (KUTW-LP) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5. | Antenna                Site License Agreement, dated February 26, 1997 by and between Shaffer                & Associates, Inc. and National Minority Television, Inc. as assigned                to Borger Broadcasting, Inc., extended through June 1, 2011.                (KWKO-LP) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6. | Tower                Lease Agreement for Wichita Falls, Texas, dated January 9, 2006,                by and                between Ralph C. Parker dba Tower Rental Co. expiring December 31,                2006                and automatically extending on an annual basis thereafter. (KUWF&                KTWW) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Tower                Site license agreement between Pinnacle Towers, Inc. and Denver                Broadcasting, Inc. expiring April 1, 2009.                (KDEV-DT) |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Site                Agreement between Echo Properties, Inc. and Denver Broadcasting,                Inc. for                a tower site near Denver. Expires November 31, 2008.                (KDEV-LP(CA)) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | License                Agreement WY0001 between Spectrasite Broadcast Towers, Inc., as lessor,                and Wyoming Channel 2, Inc., as lessee, as assigned to Denver                Broadcasting, Inc. for Tower #25 in Cheyenne, WY. Lease expires November                1, 2011. (KDEV) |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | License                Agreement, dated March 20, 2007, by and between American Tower Asset                Sub,                LLC and Equity Broadcasting Corporation d/b/a Denver Broadcasting,                Inc.,                expiring in April 30, 2012.                (KKTU-LP) |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5. | Communications                Use Lease, dated August 28, 2007, by and between the United States                of                America and Denver Broadcasting, Inc. expiring on December 31, 2016                for                Laramie Translator Site- (K61DX) |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6. | Rawlins                site- Bureau of Land Management site lease                (K21CV) |
|--------|----|------------------------------------------------------------------------------------------|

|   | 1. | License                Agreement, dated June 28, 2007, by and between American Tower, L.P.                and                EBC Atlanta, Inc. for an initial five year term and two five year                option                periods. (WYGA-CA) |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 1. | Tower                Site License Agreement, dated November 16, 2004 by and between CBS                Broadcasting, Inc. and EBC Detroit, Inc. The lease is for a five                years                through November 30, 2009 with options.                (WUDT-CA) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Lease                Agreement, dated June 2005, by and between PDBM, LLC and EBC Detroit,                Inc.                for office space for a term expiring November 20,                2014. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Lease                dated, November 16, 2006 by and between W.E.C.S. Corporation and                EBC                Harrison, Inc. expiring on November 15, 2007 and month to month                thereafter. (KWBM office lease) |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Land                Lease Agreement, dated March 10, 1999, by and between Rick and Ronda                Turner and R.S. Communications, Limited Partnership, and assumed                by EBC                Harrison, Inc., as amended and expiring March 24, 2098.                (KWBM) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Telecommunications                Site Lease Agreement, dated November 29, 2005 by and between W.E.C.S.                Corporation and EBC Harrison, Inc. expiring on January 1, 2009                (KBBL-CA) |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Broadcast                Tower Antenna Sublease Agreement, dated September 29, 2006 by and                between                TC Florida Towers II, L.L.C. and EBC Jacksonville, Inc. for an initial                three year term with four five year option periods.                (WUJF-LP) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Sublease                agreement, dated December 26, 2006 by and between Meredith Corporation                EBC                Kansas City, Inc. office lease which expires March 31, 2011. (KUKC                office                lease) |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Tower                space agreement with Daystar Television Network on a month to month.                (KUKC-LP) |
|--------|----|--------------------------------------------------------------------------------------------------------------------|

|   | 1. | New                American Tower lease in process                (KIMG-LP) |
|--------|----|-----------------------------------------------------------------------------|

|   | 1. | Lumber                Exchange Building Office Lease, dated, December 17, 2004, by and                between                Lumber, LLC and EBC Minneapolis, Inc. for a forty month                term. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 2. | Telecommunications                Terminal Site Access Users Agreement, dated January 19, 2005, for                tower                space on top of the Campbell Mithum Building for a five year period.                (WUMN-LP) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Telecommunications                Terminal Site Access Agreement, dated May 30, 1991, between Broadcast                Services Inc. and Ronald A. Kniffen, assigned to North Central LP                TV, Inc.                on June 15, 1995, subsequently Ventana Television, Inc. on November                9,                2001, subsequently assigned to Word of God Fellowship, Inc., dba                as                Daystar Television Network, on May 30, 2003, subsequently assigned                to EBC                St. Louis, Inc. (WTMS-LP) |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | License                Agreement, dated April 1, 2005, by and between 401 Church Street,                LLC and                South Central Communications Corporation and assigned to EBC Nashville,                Inc. expiring March 31, 2010 with one five year option period.                (WNTU-LP) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Lease                Agreement, dated June 30, 1998, by and between Lexington Financial                Center,                LTD and B&C Communications, LLC and assigned to EBC Nashville, Inc.                expiring June 30, 2008. (WBLU-LP) |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | License                Agreement by and between Pinnacle Towers, Inc. and Marianna Broadcasting,                Inc. as assigned to and assumed by EBC Panama City, Inc. for a ten                year                term commencing January 1, 2002.                (WBIF) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Lease,                dated December 1, 2007, by and between Commerce Five, LTD and EBC                Panama                City, Inc. for a twelve month office space                lease |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Lease                Agreement, dated October 15, 2006, by and between Hometown Family                Radio as                successor in interest to Tracy Broadcasting Corporation and EBC                Scottsbluff, Inc. expiring on October 14, 2007 and month to month                thereafter. (KTUW-DT) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Telecommunications                Terminal Site Access Agreement, dated October 21, 1997, between Broadcast                Services, Inc. and Breckenridge Broadcasting Company, Inc. (Columbia                Seafirst Center, Seattle, WA)                (KUSE-LP) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 1. | Lease                Agreement, dated February 1, 2005, by and between Christa Carr, Lisa                Hager, April Cottrell and Jesse Clarke, as amended and EBC Southwest                Florida, Inc. expiring on January 31, 2009. (WEVU office                lease) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Super                Towers, Inc. – Bonita Tower License Agreement, dated April 1, 2002 by                and between Super Towers, Inc. and Tiger Eye Broadcasting for a five                year                term ending on October 31, 2007 with two five year options.                (WUVF-CA) |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Antenna                Lease Agreement, dated January 30, 2003 by and between Glenn T. McKeever                and Tiger Eye Broadcasting Corp as assumed by EBC Southwest Florida,                Inc                for a five year term ending on January 31, 2008.                (WTLE-LP) |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | License                Agreement, dated December 8, 2004, by and between American Towers,                Inc.                and EBC Southwest Florida, Inc. expiring on April 30, 2016 with two                five                year options. (WLZE-CA) |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5. | License                Agreement, dated May 1, 2006, by and between American Towers, Inc.                and EBC                Southwest Florida, Inc. expiring February 9, 2010 with two five year                options. (WSLF-LP) Port St. Lucie |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6. | Site                License Agreement, dated March 20, 1996, by and between The Amtel                Group of                Florida, Inc. and Tamami Fort Myers Incorporated and assigned to                EBC                Southwest Florida, Inc. (WEVU) |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7. | Super                Towers, Inc. – Community License Agreement, dated November 1, 2001 by                and between Super Towers, Inc. and Caloosa for WBSP-LP and assigned                to EBC                Southwest Florida, Inc. (WBSP-CA) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Lease                Agreement, dated November 1, 2002 by and between Harold A. Fish,                Jr –                Tower Talk of Ithaca and B&C Communications, LLC as subsequently                assigned to EBC Syracuse, Inc. for a five year tower lease.                (WNYI) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Lease –                Business Property lease, dated November 14, 2005 by and between Midtown                Development and EBC Waterloo, Inc., expiring November 30, 2007 and                extended to November 30, 2010. (KWWF office and tower                lease) |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Springdale                sales office lease, dated April 30, 2001, by and between Sitton                Properties, LLC and Fort Smith 46, Inc. for ten years beginning June                1,                2002. Rents of $3,600 (Springdale sales office). Sitton Properties,                LLC                has assigned its interest to Albert                Moretti. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 2. | Channels                46, 43 and 10 - Tower Lease Agreement (Vista tower), dated April                18, 1995,                by and between Westark Towers, Inc., now American Tower, as lessor,                and                Pharis Broadcasting, Inc., as assumed by Fort Smith 46, Inc., as                lessee,                for space on its Mount Vista, Van Buren, AR tower. Ten year lease                beginning at $1,175.00 per month plus electricity with payment beginning                May 1, 1995 as modified in an Addendum executed July 14, 1995. (KPBI-CA,                KXUN-LP & KFDF-CA) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Channel                50 - Tower Space Lease Agreement (Mt. Cavanal tower), dated February                1,                2000 by and between Clark Communications, Inc. and assigned to AAT                Communications, as lessor, and Pharis Broadcasting, Inc., as lessee,                as                assumed by Fort Smith 46, Inc., for space on its Mt. Cavanal, Poteau,                Oklahoma tower. (KSJF-CA) |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | Channel                53/60 - Tower Space Lease Agreement (Mt. Magazine tower), dated February                1, 2000 by and between Clark Communications, Inc. and assigned to                AAT                Communications, as lessor, and Pharis Broadcasting, Inc., as lessee,                as                assumed by Fort Smith 46, Inc. for space on its Mt. Magazine, Paris,                Arkansas tower. (KRAH-CA) |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5. | Channel                31 (Winslow tower)- Tower Space Lease Agreement by and between Clark                Communications, Inc. and Fort Smith 46, Inc. dated June 1, 2003 expiring                June 1, 2004 with automatic annual renewals unless terminated by                Lessee                upon 60 days notice. (K32GH) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6. | Channel                4 & 31 (Johnson I tower)- Tower Space Lease Agreement by and between                Clark Communications, Inc. and Fort Smith 46, Inc. dated June 1,                2003                expiring June 1, 2004 with automatic annual renewals unless terminated                by                Lessee upon 60 days notice. (KJBW-CA &                KWNL-CA) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7. | Channel                14 (Bentonville II tower)- Tower Space Lease Agreement by and between                Clark Communications, Inc. and Fort Smith 46, Inc. dated June 1,                2003                expiring June 1, 2004 with automatic annual renewals unless terminated                by                Lessee upon 60 days notice.                (KHMF-CA) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8. | Channel                33 (Siloam Springs tower)- Tower Space Lease Agreement by and between                Clark Communications, Inc. and Fort Smith 46, Inc. dated June 1,                2003                expiring June 1, 2004 with automatic annual renewals unless terminated                by                Lessee upon 60 days notice.                (KKAF-CA) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 9. | Channel                59 (Hindsville tower)- Tower Space Lease Agreement by and between                Clark                Communications, Inc. and Fort Smith 46, Inc. dated June 1, 2003 expiring                June 1, 2004 with automatic annual renewals unless terminated by                Lessee                upon 60 days notice. (KRBF-CA) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10. | Channel                48 (Salisaw, OK) tower lease between Hash Communications, LLC, and                Fort                Smith 46, Inc., commencing August 7, 2003 for five years.                (K48FL) |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 11. | Channel                18/54 (Poteau, OK) tower license agreement between Hash Communications,                LLC and Fort Smith 46, Inc., commencing August 7, 2003 for a term                of five                years. (KUFS-LP) |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12. | Channel                33 (Clarksville) tower license agreement between Hash Communications,                LLC                and Fort Smith 46, Inc., commencing August 7, 2003 for a term of                five                years. (K33HE) |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 13. | Channel                64 (Johnson II tower)- Tower Space Lease Agreement by and between                Clark                Communications, Inc. and Fort Smith 46, Inc. dated June 1, 2003 expiring                June 1 2004 with automatic annual renewals unless terminated by Lessee                upon 60 days notice. (KEGW-LP) |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 14. | Channel                36 (Johnson I tower)- Tower Space Lease Agreement by and between                Clark                Communications, Inc. and Fort Smith 46, Inc. dated June 1, 2003 expiring                June 1, 2004 with automatic annual renewals unless terminated by                Lessee                upon 60 days notice. (KFFS-CA) |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Lease                and Access Agreement, dated June 6, 2000, between Windmill Land and                Stock                Company, as owner, and Logan 12, Inc., as lessee, for 15 years, with                option to extend for two additional 15-year terms. Covers land in                Box                Elder County, Utah. (KUTF) |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Office                Lease, dated October 15, 2004 by and between Parkside Salt Lake                Corporation and Logan 12, Inc. and Price Broadcasting, Inc. for 98                months.                (KUTF office lease) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Space                and Service Lease and Agreement, dated October 1, 2002, between Questar                InfoComm, Inc., as lessor, and Logan 12, Inc., as lessee/customer,                covering building and circuits, for initial term of 5 years, with                automatic annual renewals thereafter.                (KUBX-CA) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Antenna                Lease Agreement between Marquette Broadcasting, Inc. and Great Lakes                Radio, Inc., commencing February 25, 2001 for a 20-year term.                (WMQF) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Tower                and Building Agreement, dated May 15, 2003 by and between Furniture                City                Broadcasting Corporation and Media Adventures, Inc. and assigned                to                Marquette Broadcasting, Inc. for a three year period with four five                year                option periods. (WUHQ-LP) |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Tonapah,                Nevada site lease for KEGS between Nevada Channel 3 Inc. and Terry                Payne,                commencing March 15, 2002 on a month-to-month basis. (KEGS) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 2. | License                Agreement, dated July 25, 2007 by and between American Tower, Inc.                and                Nevada Channel 3, Inc. for a five year term.                (KELM-LP) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Tower                Lease, as assumed by Nevada Channel 3, Inc., with Tower Management                on a                month to month basis. (KEGS) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Lease                Agreement, dated May 1, 2003 and modified on September 1, 2004 by                and                between Journal Broadcast Corporation and Equity Broadcasting Corporation                as assigned to Nevada Channel 6, Inc. for a tower lease through April                30,                2006 and month to month thereafter. (KNBX-CA) |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Lease                Agreement, dated July 17, 2003, by and between Bluewater Realty,                LLC and                Newmont Broadcasting Corporation for the Burlington office. (office                lease) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | License                Agreement, dated December 8, 2004 by and between American Towers,                Inc. and                Newmont Broadcasting Corporation for a ten year term. (WGMU &                W19BR(CA)) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | License                Agreement, dated July 1, 2004, between Vermont ETV, Inc. and Newmont                Broadcasting Corporation. This tower lease commenced July 1, 2004                and                expires on June 30, 2009. (W61CE) |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | License                Agreement, dated May 1, 2005, between Vermont ETV, Inc. and Newmont                Broadcasting Corporation. This tower lease commenced May 1, 2005                and                expires on June 30, 2009. (W17CI) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5. | Lease                Agreement by and between WBVT Television, as assumed by Newmont                Broadcasting Corporation and North Country Repeaters on a month to                month                term. (W49BI) |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6. | Lease                Agreement by and between Pinewood Manor, Inc. as assigned to AFB,                LLC and                New York Network, LLC and assumed by Newmont Broadcasting Corporation.                (W52CD) |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7. | Lease                agreement by and between Russ Kinsley and Newmont Broadcasting Corporation                on a month to month term. (WBVT) |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Lease                Agreement, dated June 28, 2002, between American Towers, Inc., and                Price                Broadcasting, Inc., for five years for a tower site in Helper, Utah.                (KCBU) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 2. | Space                Lease and Service Agreement, dated October 7, 2002, to be effective                as of                August 1, 2002, between Questar InfoComm, Inc., as lessor, and Price                Broadcasting, Inc. (assignee of R&D Media Group, Inc.), as                lessee/customer, covering building and circuits, for initial term                of 5                years, with automatic annual renewals thereafter.                (K45GX) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Office                lease for KQUP, Spokane, Washington between Pullman Broadcasting,                Inc. and                The Spokane Club, commencing on September 1, 2003 and expiring September                30, 2011. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Site                Lease on Idaho Blossom Mountain with Switzer Communications, Inc.                for                Couer 'd Alene tower site, assumed June 1, 2000 for five years and                now on                a month to month basis. (KQUP-LP) |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Site                Lease/Use Agreement, dated October 1, 2005 by and between Technology                Services Management Group, LLC and Pullman Broadcasting, Inc. beginning                on                October 15, 2005 and expiring on October 15, 2010.                (KQUP) |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Antenna                License Agreement (Shinall Mountain KWBF tower site), dated May 1997                by                and between Signal Media of Arkansas, Inc., as Licensor and Channel                42 of                Little Rock, Inc, as Licensee, as assumed by River City Broadcasting,                Inc.                expires 6/30/2011. (KWBF) |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Basic                Lease Agreement (Sales Office), dated June 21, 2004 by and between                Flake                and Kelley Commercial and River City Broadcasting, Inc. for three                years                beginning August 1, 2004 and ending on July 31,                2008. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Antenna                Site Lease in Benton, AR by and between Samuel Bridges and Arkansas                49,                Inc. and assigned to River City Broadcasting, Inc. commencing on                May 15,                2003 for five years. (KWBF-LP) |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | Antenna                License Agreement, dated July 1, 2006 by and between Signal Media                Corporation, as Licensor and River City Broadcasting, Inc. expires                February 29, 2009. (KWBF-DT) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Roseburg,                Oregon transmitter site lease by and between Roseburg Broadcasting,                Inc.                and South West Oregon TV Broadcasting Corp, commencing on September                2,                2002 on a month-to-month basis.                (KTVC) |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Eugene,                Oregon site lease by and between Roseburg Broadcasting, inc. and                James D.                Silke, commencing on January 11, 1993 and is on a month to month                basis.                (KAMK-LP) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 3. | Joint                Sales Agreement dated August 19, 2002 by and between Roseburg                Broadcasting, Inc. and Fisher Broadcasting – Oregon TV, LLC for                office space for KTVC at no additional                cost. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Tower/Ground                Lease Agreement, dated September 2, 2004 by and between Jerry Clark                d/b/a                Clark Communications, Inc. and TV 34, Inc. commencing on January                1, 2005                for a fifteen year period. (KPBI) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Site                lease between TV 34, Inc. and Hash Communications, LLC commencing                July 31,                2000 expires on August 31, 2010.                (KWFT-LP) |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Aurora,                Missouri tower site lease between TV 34, Inc. and Magic Circle Radio,                Inc., as assigned to Falcon Broadcasting, Inc. commencing on December                1,                2003 for a two year term and month to month thereafter. (KNJE-LP)                (To be                assigned from TV 34, Inc. to EBC Harrison, Inc. at or shortly after                closing) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1. | Commercial                Lease Multi-Tenant lease, dated November 29, 2004, by and between                THB/Quadrum, LLC and Woodward Broadcasting, Inc. for office space                in                Oklahoma City. Expires on January 1, 2008 and extended on a month                to month                basis |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Service                Agreement, dated February 1, 2005, by and between Woodward Broadcasting,                Inc. and Brooke and Douglas Williams d/b/a Omni Media Group, Inc.                for                office space and other services on a month to month basis at $3,500/month.                (KUOK) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Antenna                Site Lease, dated October 26, 2000, by and between Pinnacle Towers,                Inc.                and Tiger Eye Broadcasting, as assigned to and assumed by Woodward                Broadcasting, Inc. expiring on November 30, 2008.                (KCHM-CA). |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | Standard                Lease, by and between Garnett Crossing, LLC and Woodard Broadcasting,                Inc.                commencing on April 1, 2005 and expiring on June 30, 2010. (Tulsa                office                lease) |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5. | Roof                Space Lease, dated December 1, 1995, by and between Bank Tower Limited                Partnership as successor to Fourth National Associates Limited Partnership                and Woodward Broadcasting, Inc. as successor to Kaleidoscope Affiliates,                LLC for a tower space lease expiring on October 31, 2007 and now                on a                month to month basis at rents beginning at $993.04 (extention is                in                process). (KUTU-CA) |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6. | Lease,                dated August 16, 1991, by and between Oklahoma City Tower Company                and                LeSea Broadcasting Corporation as assumed by Woodward Broadcasting,                Inc.                (KWDW-LP) |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 7. | Antenna                Site Lease, dated May 1997, by and between Mahorney Radio and Woodward                Broadcasting, Inc., expiring May 2009.                (KOKT) |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**INTELLECTUAL      PROPERTY: **

----

**Trademarks:**

**Domain      Names:**

| ARKANSASTWISTERS.COM    |
|-------------------------|
| EBCORP.NET              |
| EMDAHOLDINGS.COM        |
| EQUITYBROADCASTING.COM  |
| FOXFFS.COM              |
| KQUP.COM                |
| MY31TV.COM              |
| MY42LR.COM              |
| MYTV-BURLINGTON.COM     |
| MYTV-NWARKANSAS.COM     |
| RETROTELEVISION.NET     |
| RTNVILLE.BIZ            |
| RTNVILLE.INFO           |
| RTNVILLE.US             |
| UNIVISION-AMARILLO.COM  |
| UNIVISION-MN.COM        |
| UNIVISION-NWA.COM       |
| UNIVISION-OK.COM        |
| UNIVISION-SWFLORIDA.COM |
| UNIVISION-TULSA.COM     |
| UNIVISION-WACO.COM      |
| UPN51.COM               |
| WMQF19.COM              |

----

**Schedule      4.10**

----

**Schedule      4.15**

**PENSION      PLANS**

** **

----

**Schedule      4.16**

**MATERIAL      AGREEMENTS **

| 1. | Management                Services Agreement, dated March 30, 2007 between Equity Media Holdings                Corporation and Royal Palm Capital Management,                LLLP. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Services                Agreement, dated November 27, 2002, between EMHC and River City                Broadcasting, Inc. |
|----|---------------------------------------------------------------------------------------------------------------------------|

| 3. | Services                Agreement, dated November 27, 2002, between EMHC and Fort Smith 46,                Inc. |
|----|-----------------------------------------------------------------------------------------------------------------|

| 4. | Services                Agreement, dated August 15, 2003, between EMHC and Logan 12,                Inc. |
|----|----------------------------------------------------------------------------------------------------------|

| 5. | Services                Agreement, dated August 15, 2003, between EMHC and Price Broadcasting,                Inc. |
|----|--------------------------------------------------------------------------------------------------------------------|

| 6. | Services                Agreement, dated June 21, 2004, between EMHC and Arkansas 49,                Inc. |
|----|-----------------------------------------------------------------------------------------------------------|

| 7. | Services                Agreement, dated June 21, 2004, between EMHC and Borger Broadcasting,                Inc. |
|----|-------------------------------------------------------------------------------------------------------------------|

| 8. | Services                Agreement, dated June 21, 2004, between EMHC and Denver Broadcasting,                Inc. |
|----|-------------------------------------------------------------------------------------------------------------------|

| 9. | Services                Agreement, dated June 21, 2004, between EMHC and EBC Buffalo,                Inc. |
|----|-----------------------------------------------------------------------------------------------------------|

| 10. | Services                Agreement, dated June 21, 2004, between EMHC and EBC Detroit,                Inc. |
|-----|-----------------------------------------------------------------------------------------------------------|

| 11. | Services                Agreement, dated June 21, 2004, between EMHC and EBC Harrison, Inc. |
|-----|---------------------------------------------------------------------------------------------|

| 12. | Services                Agreement, dated June 21, 2004, between EMHC and EBC Minneapolis,                Inc. |
|-----|---------------------------------------------------------------------------------------------------------------|

| 13. | Services                Agreement, dated June 21, 2004, between EMHC and EBC Scottsbluff,                Inc. |
|-----|---------------------------------------------------------------------------------------------------------------|

| 14. | Services                Agreement, dated June 21, 2004, between EMHC and EBC Panama City,                Inc. |
|-----|---------------------------------------------------------------------------------------------------------------|

| 15. | Services                Agreement, dated June 21, 2004, between EMHC and Marquette Broadcasting,                Inc. |
|-----|----------------------------------------------------------------------------------------------------------------------|

| 16. | Services                Agreement, dated June 21, 2004, between EMHC and Nevada Channel 3,                Inc. |
|-----|----------------------------------------------------------------------------------------------------------------|

| 17. | Services                Agreement, dated June 21, 2004, between EMHC and Newmont Broadcasting,                Inc. |
|-----|--------------------------------------------------------------------------------------------------------------------|

| 18. | Services                Agreement, dated June 21, 2004, between EMHC and Pullman Broadcasting,                Inc. |
|-----|--------------------------------------------------------------------------------------------------------------------|

| 19. | Services                  Agreement, dated June 21, 2004, between EMHC and Roseburg Broadcasting,                  Inc. |
|-----|-------------------------------------------------------------------------------------------------------------------------|

----

| 20. | Services                Agreement, dated June 21, 2004, between EMHC and TV 34,                Inc. |
|-----|-----------------------------------------------------------------------------------------------------|

| 21. | Services                Agreement, dated June 21, 2004, between EMHC and Vernal Broadcasting,                Inc. |
|-----|-------------------------------------------------------------------------------------------------------------------|

| 22. | Services                Agreement, dated June 21, 2004, between EMHC and Woodward Broadcasting,                Inc. |
|-----|---------------------------------------------------------------------------------------------------------------------|

| 23. | Services                Agreement, dated June 21, 2004 between EMHC and Equity News Services,                Inc.                (f/k/a Hispanic News Network,                Inc.). |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 24. | Services                Agreement, dated June 21, 2004, between EMHC and Rep Plus,                Inc. |
|-----|--------------------------------------------------------------------------------------------------------|

| 25. | Services                Agreement, dated August 27, 2004, between EMHC and EBC Waterloo,                Inc.  |
|-----|--------------------------------------------------------------------------------------------------------------------|

| 26. | Services                Agreement, dated February 20, 2007, between EMHC and EBC Jacksonville,                Inc. |
|-----|--------------------------------------------------------------------------------------------------------------------|

| 27. | Services                Agreement, dated November 9, 2006, between EMHC and EBC Nashville,                Inc. |
|-----|----------------------------------------------------------------------------------------------------------------|

| 28. | Services                Agreement, dated July 8, 2005, between EMHC and EBC Kansas City,                Inc. |
|-----|--------------------------------------------------------------------------------------------------------------|

| 29. | Services                Agreement, dated July 8, 2005, between EMHC and EBC Syracuse,                Inc. |
|-----|-----------------------------------------------------------------------------------------------------------|

| 30. | Services                Agreement, dated July 8, 2005, between EMHC and EBC Southwest Florida,                Inc. |
|-----|--------------------------------------------------------------------------------------------------------------------|

| 31. | Services                Agreement, dated July 8, 2005, between EMHC and Nevada Channel 6,                Inc. |
|-----|---------------------------------------------------------------------------------------------------------------|

| 32. | Services                  Agreement, dated July 8, 2005, between EMHC and EBC Atlanta,                  Inc. |
|-----|--------------------------------------------------------------------------------------------------------------|

| 33. | Services                Agreement, dated July 8, 2005, between EMHC and EBC Seattle,                Inc. |
|-----|----------------------------------------------------------------------------------------------------------|

| 34. | Services                Agreement, dated July 8, 2005, between EMHC and EBC Los Angeles,                Inc. |
|-----|--------------------------------------------------------------------------------------------------------------|

| 35. | Services                Agreement, dated July 8, 2005, between EMHC and Skyport Services,                Inc. |
|-----|---------------------------------------------------------------------------------------------------------------|

| 36. | MyNetwork                TV affiliation agreement between Twenthieth Television, Inc. and                River                City Broadcasting, Inc. (KWBF), dated March 29, 2006, for a term                of five                years with one-year extension                periods. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 37. | MyNetwork                TV affiliation agreement between Twenthieth Television, Inc. and                EBC                Harrison, Inc. (KWBM), dated March 29, 2006, for a term of five years                with                one-year extension periods. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 38. | MyNetwork                TV affiliation agreement between Twenthieth Television, Inc. and                Newmont                Broadcasting Corporation (WGMU), dated May 9, 2006, for a term of                five                years with one-year extension                periods. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 39. | MyNetwork                TV affiliation agreement between Twenthieth Television, Inc. and                Fort                Smith 46, Inc. (KPBI), dated March 29, 2006, for a term of five years                with                one-year extension periods. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 40. | Fox                affiliation agreement between Fox Broadcasting Corporation and Marquette                Broadcasting, Inc. (WMQF) dated March 30, 2005. Expires June 30,                2008. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 41. | *Network                Affiliation Agreement*                by                and between                Borger Broadcasting, Inc. (KEYU)                and Univision Network Limited Partnership dated March 30, 2007 and                expires                March 31, 2022. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 42. | *Network                Affiliation Agreement*                by                and between EBC Detroit, Inc. (WUDT) and Univision Network Limited                Partnership dated March 30, 2007 and expires March 31,                2022. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 43. | *Network                Affiliation Agreement*                by                and between EBC Jacksonville, Inc. and Univision Network Limited                Partnership dated April 16, 2007 and expires March 31, 2022. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 44. | *Network                Affiliation Agreement*                by                and between EBC Kansas City, Inc. (KUCK-LP) and Univision Network                Limited                Partnership dated March 30, 2007 and expires March 31,                2022. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 45. | *Network                Affiliation Agreement*                by                and between EBC Minneapolis, Inc. (WUMN-CA) and Univision Network                Limited                Partnership dated March 30, 2007 and expires March 31,                2022. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 46. | *Network                Affiliation Agreement*                by                and between EBC Nashville, Inc.                (WNTU)                and Univision Network Limited Partnership dated April 16, 2007 and                expires                March 31, 2022. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 47. | *Network                Affiliation Agreement*                by                and between EBC Southwest Florida, Inc.                (WUVF) and                Univision Network Limited Partnership dated March 30, 2007 and expires                March 31, 2022. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 48. | *Network                Affiliation Agreement*                by                and between EBC Syracuse, Inc. (WNYI) and Univision Network Limited                Partnership dated March 30, 2007 and expires March 31,                2022. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 49. | *Network                Affiliation Agreement*                by                and between Fort Smith 46, Inc.                (KXUN)                and Univision Network Limited Partnership dated March 30, 2007 and                expires                March 31, 2022. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 50. | *Network                Affiliation Agreement*                by                and between River City Broadcasting, Inc.                (KLRA) and                Univision Network Limited Partnership dated March 30, 2007 and expires                March 31, 2022. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 51. | *Network                Affiliation Agreement*                by                and between Woodward Broadcasting, Inc. and Univision Network Limited                Partnership dated March 30, 2007 and expires March 31, 2022. (Station                KUOK-TV) |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 52. | *Network                Affiliation Agreement*                by                and between Woodward Broadcasting, Inc. and Univision Network Limited                Partnership dated March 30, 2007 and expires March 31, 2022. (Station                KUTU-CA) |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 53. | *Network                Affiliation Agreement*                by                and between Borger Broadcasting, Inc. (KAMT-LP)                and Telefutura                dated March 30, 2007 and expires March 31,                2022. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 54. | *Network                Affiliation Agreement*                by                and between EBC Southwest Florida, Inc.                (WTLE) and                Telefutura dated March 30, 2007 and expires March 31,                2022. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 55. | *Master                Network Program Licensing Agreement*                by                and between CBS Paramount Studios, Inc. and EMHC dated March 10,                2007. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 56. | *Full-Time                Transponder Capacity Agreement*by                and between PanAmSat Corporation and EMHC dated December 1,                2004. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 57. | *First                Amendment to Full-Time Transponder Capacity Agreement*by                and between PanAmSat Corporation and EMHC dated March 30,                2005. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 58. | *Second                Amendment to Full-Time Transponder Capacity Agreement*by                and between PanAmSat Corporation and EMHC dated June 3,                2005. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 59. | *Full-Time                Transponder Capacity Agreement*by                and between PanAmSat Corporation and EMHC dated February 28,                2003. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 60. | *First                Amendment to Full-Time Transponder Capacity Agreement*by                and between PanAmSat Corporation and EMHC dated August 12,                2003. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 61. | *Second                Amendment to Full-Time Transponder Capacity Agreement*by                and between PanAmSat Corporation and EMHC dated June 30,                2004. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 62. | *Third                Amendment to Full-Time Transponder Capacity Agreement*by                and between PanAmSat Corporation and EMHC dated December 1,                2004. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 63. | *Fourth                Amendment to Full-Time Transponder Capacity Agreement*by                and between PanAmSat Corporation and EMHC dated March 30,                2005. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 64. | *Fifth                Amendment to Full-Time Transponder Capacity Agreement*by                and between PanAmSat Corporation and EMHC dated June 3,                2005. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**Schedule      4.17**

**PROJECTIONS**

----

**Schedule      4.18**

**BROKERS,      ETC.**

----

**Schedule      4.19**

**CAPITALIZATION**

| **(All                    100% owned unless noted)**                                                                                                                 |   | **Shares                    Outstanding****All                    Owned by EMHC** |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------------------|
| **ARKANSAS                    49, INC.**                                                                                                                             |   | **100**                                                                           |
| **BORGER                    BROADCASTING, INC.**                                                                                                                     |   | **100**                                                                           |
| **CENTRAL                    ARKANSAS PAYROLL COMPANY**                                                                                                              |   | **300**                                                                           |
| **DENVER                    BROADCASTING, INC.**                                                                                                                     |   | **1000**                                                                          |
| **EBC                    ATLANTA, INC.**                                                                                                                             |   | **1000**                                                                          |
| **EBC                    BUFFALO, INC.**                                                                                                                             |   | **1000**                                                                          |
| **EBC                    DETROIT, INC.**                                                                                                                             |   | **1000**                                                                          |
| **EBC                    HARRISON, INC.****EBC                    JACKSONVILLE, INC.**                                                                               |   | **1000****1000**                                                                  |
| **EBC                    KANSAS CITY, INC.**                                                                                                                         |   | **1000**                                                                          |
| **EBC                    LOS ANGELES, INC.**                                                                                                                         |   | **1000**                                                                          |
| **EBC                    MINNEAPOLIS, INC.**                                                                                                                         |   | **1000**                                                                          |
| **EBC                    NASHVILLE, INC.**                                                                                                                           |   | **1000**                                                                          |
| **EBC                    PANAMA CITY, INC.**                                                                                                                         |   | **1000**                                                                          |
| **EBC                    PROVO, INC.**                                                                                                                               |   | **1000**                                                                          |
| **EBC                    SCOTTSBLUFF, INC.**                                                                                                                         |   | **100**                                                                           |
| **EBC                    SEATTLE, INC.**                                                                                                                             |   | **1000**                                                                          |
| **EBC                    SOUTHWEST FLORIDA, INC.**                                                                                                                   |   | **1000**                                                                          |
| **EBC                    ST. LOUIS, INC.**                                                                                                                           |   | **100**                                                                           |
| **EBC                    SYRACUSE, INC.**                                                                                                                            |   | **1000**                                                                          |
| **EBC                    WATERLOO, INC.**                                                                                                                            |   | **1000**                                                                          |
| **FORT                    SMITH 46, INC.**                                                                                                                           |   | **100**                                                                           |
| **EQUITY                    NEWS SERVICE, INC.**                                                                                                                     |   | **1000**                                                                          |
| **LITTLE                    ROCK TV-14, LLC**                                                                                                                        |   | **50%**                                                                           |
| **LOGAN                    12, INC.**                                                                                                                                |   | **100**                                                                           |
| **MARQUETTE                    BROADCASTING, INC.**                                                                                                                  |   | **100**                                                                           |
| **MONTANA                    BROADCASTING GROUP, INC.**                                                                                                              |   | **100**                                                                           |
| **NEVADA                    CHANNEL 3, INC.**                                                                                                                        |   | **100**                                                                           |
| **NEVADA                    CHANNEL 6, INC.**                                                                                                                        |   | **1000**                                                                          |
| **NEWMONT                    BROADCASTING CORPORATION**                                                                                                              |   | **100**                                                                           |
| **PRICE                    BROADCASTING, INC.**                                                                                                                      |   | **100**                                                                           |
| **PULLMAN                    BROADCASTING INC.**                                                                                                                     |   | **100**                                                                           |
| **REP                    PLUS, INC.****RETRO                    PROGRAMMING SERVICES, INC.**                                                                         |   | **100****1000**                                                                   |
| **RIVER                    CITY BROADCASTING, INC.**                                                                                                                 |   | **100**                                                                           |
| **ROSEBURG                    BROADCASTING, INC.**                                                                                                                   |   | **100**                                                                           |
| **C.A.S.H.                    SERVICES, INC.**                                                                                                                       |   | **1000**                                                                          |
| **SPINNER                    NETWORK SYSTEMS, LLC**                                                                                                                  |   | **4%**                                                                            |
| **TV                    34, INC.**                                                                                                                                   |   | **100**                                                                           |
| **VERNAL                    BROADCASTING, INC.**                                                                                                                     |   | **100**                                                                           |
| **WOODWARD                    BROADCASTING, INC.**                                                                                                                   |   | **100**                                                                           |
| **ARKANSAS                    TWISTERS, INC.**                                                                                                                       |   | **49%**                                                                           |
| **Office                    Building – General and Limited Partner of                    H&H****Properties                    I Limited Partnership** |   | **99.37%                    of Partnership**                                      |

----

**Schedule      4.20**

**ENVIRONMENTAL      COMPLIANCE**

----

**Schedule      5.06**

**REDUCTIONS      TO FINANCIAL COVENANT LEVELS**

----

**Schedule      6.05**

**EQUITY      MEDIA HOLDINGS CORPORATION**

**AND      CERTAIN OF ITS SUBSIDIARIES**

**COMPLIANCE      REPORT**

**EQUITY      MEDIA HOLDINGS CORPORATION**

**Section      6.05(c)**

**Section**
***/s/***
**6.05(a)**
*[and/or]*
**(b)**
*[year/quarter]*

*[and      with the Reports previously furnished for the quarters ended*
*and*
*]*
**Exhibit      A**
**Article      V**

*[*
*]*

**Section      6.02**
*[were      reviewed/took effect]*

----

**WITNESS**

| **EQUITY                MEDIA HOLDINGS**                                                       |
|------------------------------------------------------------------------------------------------|
| **CORPORATION**                                                                                |
|                                                                                           |   |
| By:                                                                                            |   |
| Title:                                                                                         |   |
|                                                                                           |   |
| The                undersigned Borrowers consent to and agree                                  |
| with                the foregoing.                                                             |
|                                                                                           |
| **ARKANSAS                49, INC.**                                                           |
| **BORGER                BROADCASTING, INC.**                                                   |
| **DENVER                BROADCASTING, INC.**                                                   |
| **EBC                HARRISON, INC.**                                                          |
| **EBC                PANAMA CITY, INC.**                                                       |
| **EBC                SCOTTSBLUFF, INC.**                                                       |
| **EQUITY                NEWS SERVICES, INC., f/k/aHispanic News Network,                Inc.** |
| **FORT                SMITH 46, INC.**                                                         |
| **LOGAN                12, INC.**                                                              |
| **MARQUETTE                BROADCASTING, INC.**                                                |
| **NEVADA                CHANNEL 3, INC.**                                                      |
| **NEWMONT                BROADCASTING CORPORATION**                                            |
| **PRICE                BROADCASTING, INC.**                                                    |
| **PULLMAN                BROADCASTING INC.**                                                   |
| **REP                PLUS, INC.**                                                              |
| **RIVER                CITY BROADCASTING, INC.**                                               |
| **ROSEBURG                BROADCASTING, INC.**                                                 |
| **TV                34, INC.**                                                                 |
| **VERNAL                BROADCASTING, INC.**                                                   |
| **WOODWARD                BROADCASTING, INC.**                                                 |
| **EBC                MINNEAPOLIS, INC.**                                                       |
| **EBC                DETROIT, INC.**                                                           |
| **EBC                BUFFALO, INC.**                                                           |
| **EBC                WATERLOO, INC.**                                                          |
| **EBC                ATLANTA, INC.**                                                           |
| **EBC                SEATTLE, INC.**                                                           |
| **EBC                KANSAS CITY, INC.**                                                       |
| **EBC                SYRACUSE, INC.**                                                          |
| **NEVADA                CHANNEL 6, INC.**                                                      |
| **EBC                PROVO, INC.**                                                             |
| **EBC                SOUTHWEST FLORIDA, INC.**                                                 |
| **EBC                LOS ANGELES, INC.**                                                       |

----

| **C.A.S.H.                SERVICES, INC. f/k/a SkyportServices, Inc.** |
|------------------------------------------------------------------------|
| **EBC                NASHVILLE, INC**                                  |
| **EBC                JACKSONVILLE, INC.**                              |
|                                                                   |
| By:                                                                    |   |
| Name:                                                                  |
| Title:                                                                 |

**[Wells      Fargo Foothill/Equity Broadcasting Compliance Report]**

----

**Exhibit      A**

**to      Schedule 6.05**

**FINANCIAL      COVENANTS**

| **A.** | **CAPITAL                  EXPENDITURES (Section                  5.04)** |
|--------|---------------------------------------------------------------------------|

|  | **1.** | **MAXIMUM                PERMITTED CAPITAL EXPENDITURES FOR THE FISCAL YEAR                ENDED____________________________** |
|--|--------|--------------------------------------------------------------------------------------------------------------------------------|

| Year                Ending                                                    |   | Maximum                Capital Expenditures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|-------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| December                31, 2008 and eachyear                thereafter  |   | $6,250,000                on a consolidated basis in any calendar year thereafter; provided,                however,                that so long as no Event of Default shall then exist, Capital Expenditures                permitted, but not made, in any fiscal year may be deferred and made                in                the subsequent fiscal year in addition to (and computed after the                application of) permitted Capital Expenditures for such subsequent                fiscal                year specified above, provided,                further,                that no such deferred Capital Expenditures may be further deferred.                Notwithstanding the foregoing, Capital Expenditures and Permitted                Acquisitions which are either (i) funded solely by additional cash                equity                or (ii) not financed with the Loans and which are non-recourse to                Borrowers and the Restricted Stations, shall not be treated as Capital                Expenditures for the purposes of this **Section                5.04**. |

|  | **2.** | **ACTUAL                CAPITAL EXPENDITURES** $________________________ |
|--|--------|-------------------------------------------------------------------------------|

| **E.** | **RESTRICTED                PAYMENTS (Section 5.05)** |
|--------|-------------------------------------------------------|

|  | **1.** | **DIVIDENDS                AND DISTRIBUTIONS (See                Attachment)** |
|--|--------|--------------------------------------------------------------------------------|

***Please      detail in an attached sheet each dividend and distribution (including Tax***

***Distributions,      distributions with respect to Preferred Stock, etc.)***

| **F.** | **MINIMUM                REVENUES AND EBITDA (Section                5.06)** |
|--------|------------------------------------------------------------------------------|

|  | **1.** | **MINIMUM                REVENUES AND EBITDA FOR THE PERIOD                ENDED_______________________*****(******Please                circle appropriate amounts******)*** |
|--|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Length oftesting period(months): |   | For the period endingon: |                                | MinimumBroadcastingRevenues to be notless than: |   | Minimum RTNRevenues to be notless than: |   | Minimum EBITDA tobe not less than: |        |
|--------------------------------------------|--------|-----------------------------------------|-------------------------------------|---------------------------------------------------------------------|--------|------------------------------------------------------------------|--------|-------------------------------------------------------------|-------------|
| 1                                          |   |                                    | January                  31, 2008   |                                                                | $      | 1,939,000                                                        |   | $                                                           | 281,000     |   |   | ($2,183,000 | ) |
| 2                                          |   |                                    | February                  29, 2008  |                                                                |   | 3,879,000                                                        |   |                                                        | 561,000     |   |   | (4,367,000 | ) |
| 3                                          |   |                                    | March                  31, 2008     |                                                                |   | 5,818,000                                                        |   |                                                        | 842,000     |   |   | (6,550,000 | ) |
| 4                                          |   |                                    | April                  30, 2008     |                                                                |   | 8,180,000                                                        |   |                                                        | 1,705,000   |   |   | (8,226,000 | ) |
| 5                                          |   |                                    | May                  31, 2008       |                                                                |   | 10,542,000                                                       |   |                                                        | 2,568,000   |   |   | (9,902,000 | ) |
| 6                                          |   |                                    | June                  30, 2008      |                                                                |   | 12,905,000                                                       |   |                                                        | 3,431,000   |   |   | (11,577,000 | ) |
| 7                                          |   |                                    | July                  31, 2008      |                                                                |   | 15,462,000                                                       |   |                                                        | 4,907,000   |   |   | (12,647,000 | ) |
| 8                                          |   |                                    | August                  31, 2008    |                                                                |   | 18,019,000                                                       |   |                                                        | 6,382,000   |   |   | (13,717,000 | ) |
| 9                                          |   |                                    | September                  30, 2008 |                                                                |   | 20,577,000                                                       |   |                                                        | 7,858,000   |   |   | (14,787,000 | ) |
| 10                                         |   |                                    | October                  31, 2008   |                                                                |   | 23,291,000                                                       |   |                                                        | 9,757,000   |   |   | (15,645,000 | ) |
| 11                                         |   |                                    | November                  30, 2008  |                                                                |   | 26,005,000                                                       |   |                                                        | 11,657,000  |   |   | (16,504,000 | ) |
| 12                                         |   |                                    | December                  31, 2008  |                                                                |   | 28,719,000                                                       |   |                                                        | 13,557,000  |   |   | (17,362,000 | ) |
| 12                                         |   |                                    | January                  31, 2009   |                                                                |   | 29,055,000                                                       |   |                                                        | 17,117,000  |   |   | (14,729,000 | ) |
| 12                                         |   |                                    | February                  28, 2009  |                                                                |   | 29,390,000                                                       |   |                                                        | 20,678,000  |   |   | (12,096,000 | ) |
| 12                                         |   |                                    | March                  31, 2009     |                                                                |   | 29,726,000                                                       |   |                                                        | 24,239,000  |   |   | (9,463,000 | ) |
| 12                                         |   |                                    | April                  30, 2009     |                                                                |   | 30,135,000                                                       |   |                                                        | 27,929,000  |   |   | (6,689,000 | ) |
| 12                                         |   |                                    | May                  31, 2009       |                                                                |   | 30,543,000                                                       |   |                                                        | 31,619,000  |   |   | (3,915,000 | ) |
| 12                                         |   |                                    | June                  30, 2009      |                                                                |   | 30,952,000                                                       |   |                                                        | 35,309,000  |   |   | (1,141,000 | ) |
| 12                                         |   |                                    | July                  31, 2009      |                                                                |   | 31,394,000                                                       |   |                                                        | 38,954,000  |   |   | 1,477,000 |   |
| 12                                         |   |                                    | August                  31, 2009    |                                                                |   | 31,837,000                                                       |   |                                                        | 42,598,000  |   |   | 4,095,000 |   |
| 12                                         |   |                                    | September                  30, 3009 |                                                                |   | 32,279,000                                                       |   |                                                        | 46,243,000  |   |   | 6,713,000 |   |
| 12                                         |   |                                    | October                  31, 2009   |                                                                |   | 32,749,000                                                       |   |                                                        | 49,933,000  |   |   | 9,469,000 |   |
| 12                                         |   |                                    | November                  30, 2009  |                                                                |   | 33,218,000                                                       |   |                                                        | 53,622,000  |   |   | 12,224,000 |   |
| 12                                         |   |                                    | December                  31, 2009  |                                                                |   | 33,688,000                                                       |   |                                                        | 57,312,000  |   |   | 14,980,000 |   |
| 12                                         |   |                                    | January                  31, 2010   |                                                                |   | 34,513,000                                                       |   |                                                        | 62,415,000  |   |   | 16,433,000 |   |
| 12                                         |   |                                    | February                  28, 2010  |                                                                |   | 35,339,000                                                       |   |                                                        | 67,518,000  |   |   | 17,886,000 |   |
| 12                                         |   |                                    | March                  31, 2010     |                                                                |   | 36,165,000                                                       |   |                                                        | 72,620,000  |   |   | 19,339,000 |   |
| 12                                         |   |                                    | April                  30, 2010     |                                                                |   | 37,170,000                                                       |   |                                                        | 77,597,000  |   |   | 22,891,000 |   |
| 12                                         |   |                                    | May                  31, 2010       |                                                                |   | 38,176,000                                                       |   |                                                        | 82,574,000  |   |   | 26,443,000 |   |
| 12                                         |   |                                    | June                  30, 2010      |                                                                |   | 39,182,000                                                       |   |                                                        | 87,551,000  |   |   | 29,995,000 |   |
| 12                                         |   |                                    | July                  31, 2010      |                                                                |   | 40,271,000                                                       |   |                                                        | 92,319,000  |   |   | 35,000,000 |   |
| 12                                         |   |                                    | August                  31, 2010    |                                                                |   | 41,360,000                                                       |   |                                                        | 97,086,000  |   |   | 40,005,000 |   |
| 12                                         |   |                                    | September                  30, 2010 |                                                                |   | 42,448,000                                                       |   |                                                        | 101,854,000 |   |   | 45,010,000 |   |
| 12                                         |   |                                    | October                  31, 2010   |                                                                |   | 43,604,000                                                       |   |                                                        | 106,320,000 |   |   | 51,145,000 |   |
| 12                                         |   |                                    | November                  30, 2010  |                                                                |   | 44,760,000                                                       |   |                                                        | 110,787,000 |   |   | 57,280,000 |   |
| 12                                         |   |                                    | December                  31, 2010  |                                                                |   | 45,915,000                                                       |   |                                                        | 115,254,000 |   |   | 63,416,000 |   |
| 12                                         |   |                                    | January                  31, 2011   |                                                                |   | 47,004,000                                                       |   |                                                        | 116,577,000 |   |   | 64,122,000 |   |

| **2.** | **ACTUAL                BROADCASTING REVENUE EARNED FOR SUCH PERIOD:** |   | $_________ |
|--------|------------------------------------------------------------------------|--------|------------|
|   |                                                                   |   |       |
| **3.** | **ACTUAL                RTM REVENUE EARNED FOR SUCH PERIOD:**          |   | $_________ |
|   |                                                                   |   |       |
| **4.** | **ACTUAL                EBITDA EARNED FOR SUCH PERIOD:**               |        | $_________ |

----

**Schedule      7.01**

**INDEBTEDNESS      **

**EQUITY        MEDIA HOLDINGS CORPORATION**  

** INDEBTEDNESS        **

|                                                                                                                    |   | Loan#                      |                      |                             |   |                                                                                                                                                                                                                                                               |   |    |     |
|-------------------------------------------------------------------------------------------------------------------------|--------|----------------------------|---------------------------|----------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------|----------|
| Lender/Lessor                                                                                                           |   | Loan                  Date |                      | Repayment                  terms |   | Mo.                  Pymt                                                                                                                                                                                                                                          |   | Balance |     |
|                                                                                                                    |   |                       |                      |                             |   |                                                                                                                                                                                                                                                               |   |    |     |
| **Equity Media Holdings **Corporation****                                                                |   |                       |                      |                             |   |                                                                                                                                                                                                                                                               |   |    |     |
| Bankcorp                  South                                                                                         |   |                       | 268000019082611/14/2003   |                             |   | Monthly                  installments of $486.19 including interest of at 6.25% with an                  11/2008                  balloon.                                                                                                                         |   |    | 486.19   |   |   | 5,654.78 |   |
| Wells                  Fargo Foothill, Inc./Silver Point Finance                                                        |   |                       |                      |                             |   | Term                  loans & Revolving Line, Secured by various assets.                                                                                                                                                                                       |   |    |     |   |   | 49,874,981.80 |   |
| GMAC-Pinnacle                  Bank                                                                                     |   |                       | 249075930538/16/2005      |                             |   | Sixty                  monthly installments of $1,037.22 until June 2010. Secured by an                  automobile.                                                                                                                                               |   |    | 1,037.22 |   |   | 31,829.73 |   |
| Univision                  Communications, Inc.5999                  Center DriveLos                  Angeles, CA 90045 |   |                       |                      |                             |   | One                  year 7% interest only note due April 1, 2008. Secured by KUTF and                  K45GX                                                                                                                                                      |   |    |     |   |   | 15,000,000.00 |   |
| Citizens                  Bank                                                                                          |   |                       | 2663640                   |                             |   | First                  mortgage on Fort Smith sales office                                                                                                                                                                                                         |   |    | 2,250.00 |   |   | 197,766.39 |   |
| De                  Lage Landen Financial1111                  Old Eagle School RdWayne,                  PA 19087      |   |                       | MBS                  7061 |                             |   | Six                  monthly payments of $50 and 36 monthly payments of $3,342. Interest                  at                  8.41% secured by computer equipment and software                                                                                     |   |    | 3,342.00 |   |   | 83,576.88 |   |
| **Arkansas                  49, Inc.**                                                                                  |   |                       |                      |                             |   |                                                                                                                                                                                                                                                               |   |    |     |   |   |   |   |
| Bank                  of Little Rock200                  North State StreetLittle                  Rock, AR 72201       |   |                       | LOC51510612/18/2005       |                             |   | Monthly                  interest only payments at 7.5% balance due on 12/18/06 secured                  by stock                  pledge, equipment and EBC guarantee.                                                                                            |   |    |     |   |   | 988,987.46 |   |
|                                                                                                                    |   |                       |                      |                             |   |                                                                                                                                                                                                                                                               |   |    |     |   |   |   |   |
| **Fort                  Smith 46, Inc.**                                                                                |   |                       |                      |                             |   |                                                                                                                                                                                                                                                               |   |    |     |   |   |   |   |
| Pharis                  Broadcasting523                  Garrison Avenue, Ste. 201Fort                  Smith, AR 72901 |   |                       | 1/4/2001                  |                             |   | Monthly                  installment of $3,117.24 including interest at 8.00% until December                  31,                  2008 when the remaining principal and interest is due. Noncompete                  Secured                  by satellite truck. |   |    | 3,117.24 |   |   | 6,191.80 |   |

----

| **EBC                  Waterloo, Inc.**                                                          |   |   |                                 |   |   |                                                                                                                                                        |   |   |      |
|--------------------------------------------------------------------------------------------------|--------|--------|--------------------------------------|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------|
| Valley                  BankDavenport, Iowa                                                      |   |   | 9/7/2004                             |   |   | Interest                  only for 18 months at 5.25% and then 60 monthly payments at prime                  plus                  1.25% and a balloon      |   |   |      |   |   | 1,885,092.15 |   |
|                                                                                             |   |   |                                 |   |   |                                                                                                                                                        |   |   |      |   |   |   |   |
| **Denver Broadcasting, Inc./Hispanic NewsNetwork,                  Inc.**         |   |   |                                 |   |   |                                                                                                                                                        |   |   |      |   |   |   |   |
| Valley                  BankDavenport, Iowa                                                      |   |   | 80386                  12/20/2003    |   |   | Interest                  only for 18 months at 5.25% and then 60 monthly payments at prime                  plus                  1.25% and a balloon      |   |   |      |   |   | 5,681,548.55 |   |
|                                                                                             |   |   |                                 |   |   |                                                                                                                                                        |   |   |      |   |   |   |   |
| **EBC                  Southwest Florida, Inc.**                                                 |   |   |                                 |   |   |                                                                                                                                                        |   |   |      |   |   |   |   |
| Coloosa                  Television Corporation                                                  |   |   | Acq.                  Loan           |   |   | Due                  11/30/07                                                                                                                               |   |   |      |   |   | 300,000.00 |   |
| Bank                  of Little Rock                                                             |   |   | 11/7/2007                            |   |   | Monthly                  installments of $543 beginning 12/1/2007 at 8.5% secured by a                  van.                                                |   |   | 543.00    |   |   | 17,200.00 |   |
| **Woodward                  Broadcasting, Inc.**                                                 |   |   |                                 |   |   |                                                                                                                                                        |   |   |      |   |   |   |   |
| Bank                  of Little Rock200 North State StreetLittle Rock, AR                  72201 |   |   | 531096                  2/1/2005     |   |   | Thirty                  six payments of $1,482.25 at 7% secured by vehicles                                                                                 |   |   | 1,482.25  |   |   | 3,029.99 |   |
|                                                                                             |   |   |                                 |   |   |                                                                                                                                                        |   |   |      |   |   |   |   |
| **H&H Properties I, Ltd Partnership**                                    |   |   |                                 |   |   |                                                                                                                                                        |   |   |      |   |   |   |   |
| One                  Bank300 West CapitalLittle Rock, AR 72201                                   |   |   | Nov-04                               |   |   | Monthly                  installments of $14,622 beginning 12/1/07 at 8.0% interest. Secured                  by                  corporate office building |   |   | 13,320.00 |   |   | 1,649,908.37 |   |
| **CAPITAL                  LEASES  **                                                       |   |   |                                 |   |   |                                                                                                                                                        |   |   |      |   |   |   |   |
| **Equity Media Holdings Corporation**                                             |   |   |                                 |   |   |                                                                                                                                                        |   |   |      |   |   |   |   |
| City                  Business MachinesP.O. Box 3855Little Rock, AR                  72203       |   |   | LRG                  0001            |   |   | Thirty                  six monthly installments of $1,369.                                                                                                 |   |   | 1,369.00  |   |   | 26,828.98 |   |
| Kyocera                  Mita1961 Hirst DriveMoberly, MO 65270                                   |   |   | 9012772212                  1/1/2003 |   |   | Monthly                  payments of $2,132.50 at 7.75% until December 2007, secured by                  copiers and                  faxes                 |   |   | 2,132.50  |   |   | 818.83 |   |
|                                                                                             |   |   |                                 |   |   |                                                                                                                                                        |   |   | Total     |   | $ | 76,840,915.71 |   |

----

**Schedule      7.02**

**PERMITTED      LIENS**

----

**Schedule      7.09**

**TRANSACTIONS      WITH AFFILIATES**

----

**Schedule      7.10**

**PERMITTED      AMENDMENTS TO ORGANIZATIONAL DOCUMENTS**

----

**Schedule      7.14**

**LOCAL      MARKETING AGREEMENTS**

----

**Schedule      12**

**ASSIGNMENT      AND ACCEPTANCE**

**THIS      ASSIGNMENT AND ACCEPTANCE**

**Recitals**

**Schedule      A**

**Assignment**
**Section      3**
**Article      XIII**
**Schedule      A**

**Assumption**
**Section      2**

----

**Fees;      Etc.**

**Payment      Obligations**
**(b)(iv)**
**Article      XIII**

**Representations      and Certain Agreements**

**Assignee's      Representations, Warranties and Agreements**

----

**Sections      6.05(a), (b), (c), (d)**
**(e)**

**Assignor's      Representations and Warranties**

**Section 2**
**Schedule      A**

----

**Section      2**

**Credit      Determination; Limitations on Assignor's Liability**
**WITHOUT      RECOURSE**
**Section      5(b)**

**Indemnity**

**Subsequent      Assignments**

**Governing      Law**

**Notices**

----

**Further      Assurances**

**Expenses**

**Amendment,      Modification or Waiver**

**Jurisdiction;      Venue**

**WAIVER      OF JURY TRIAL**
**EACH      OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED      BY LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING      OUT      OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED      HEREBY.**

**Counterparts**

----

**IN      WITNESS WHEREOF**

| [     ] |   |
|----------------------------------|--------|
|                             |   |
| By:                         |   |
|                             | Name:  |
|                             | Title: |
|                             |   |
| Address:                         |
|                             |   |
| Telephone:                       |
| Telecopy:                        |
|                             |   |
| [     ] |   |
|                             |   |
| By:                         |   |
|                             | Name:  |
|                             | Title: |
|                             |   |
| Address:                         |
|                             |   |
| Telephone:                       |
| Telecopy:                        |

| **ACCEPTED:**                                  |
|------------------------------------------------|
|                                           |
| **WELLS                FARGO FOOTHILL, INC.,** |
| **As                Administrative Agent**     |

|      |                                                              |
|-----------|-------------------------------------------------------------------|
| By:  | ______________________________                                    |
|      |    ________________,                Vice President |

----

**SCHEDULE      A**

**TO      ASSIGNMENT AND**

**ACCEPTANCE      AGREEMENT**

**LIST      OF LENDING OFFICES, ADDRESSES**

**FOR      NOTICES AND COMMITMENT AND LOAN AMOUNTS**

| **ASSIGNOR:**                               |
|--------------------------------------------------|
| *[Insert                Name of Assignor]*  |

|       |   | RevolvingCreditCommitment |       | RevolvingCredit Loans |   | Term Loan ACommitment |    | Term LoansA |      | Term Loan BCommitment |   | Term LoansB |    |
|------------|--------|---------------------------|------------|----------------------------|--------|---------------------------------|---------|------------------|-----------|---------------------------------|--------|------------------|---------|
| Amount     |   | $                         | __________ |                       | $      | _________                       |    | $                | _________ |                            | $      | _________        |    | $ | _________ |   | $ | _________ |   |
|       |   |                      |       |                       |   |                            |    |             |      |                            |   |             |    |   |   |   |   |   |   |
| Percentage |   |                      | ________   | %                     |   | _______                         | %  |             | _______   | %                          |   | _______          | %  |   | _______ | %  |   | _______ | % |

| Following                assignment of the Purchased Percentage, Assignor's portions of the                Commitments and outstanding Loans will be as                follows: |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                              |   | RevolvingCreditCommitment |       | RevolvingCredit Loans |   | Term Loan ACommitment |   | Term LoansA |      | Term Loan BCommitment |   | Term LoansB |   |
|-----------------------------------|--------|---------------------------|------------|----------------------------|--------|---------------------------------|--------|------------------|-----------|---------------------------------|--------|------------------|--------|
| Revised                Amount     |   | $                         | __________ |                       | $      | _________                       |   | $                | _________ |                            | $      | _________        |   | $ | _________ |   | $ | _________ |   |
|                              |   |                      |       |                       |   |                            |   |             |      |                            |   |             |   |   |   |   |   |   |   |
| Revised                Percentage |   |                      | ________   | %                          |   | _______                         | %      |             | _______   | %                               |   | _______          | %      |   | _______ | % |   | _______ | % |

| **ASSIGNEE:**                               |
|--------------------------------------------------|
| *[Insert                Name of Assignee]*  |

|       |   | RevolvingCreditCommitment |       | RevolvingCredit Loans |   | Term Loan ACommitment |   | Term LoansA |      | Term Loan BCommitment |   | Term LoansB |   |
|------------|--------|---------------------------|------------|----------------------------|--------|---------------------------------|--------|------------------|-----------|---------------------------------|--------|------------------|--------|
| Amount     |   | $                         | __________ |                       | $      | _________                       |   | $                | _________ |                            | $      | _________        |   | $ | _________ |   | $ | _________ |   |
|       |   |                      |       |                       |   |                            |   |             |      |                            |   |             |   |   |   |   |   |   |   |
| Percentage |   |                      | ________   | %                          |   | _______                         | %      |             | _______   | %                               |   | _______          | %      |   | _______ | % |   | _______ | % |

----

| Following                assignment of the Purchased Percentage, Assignee's respective portions                of                the respective Commitments and outstanding Loans will be as                follows: |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                              |   | RevolvingCreditCommitment |       | RevolvingCredit Loans |   | Term Loan ACommitment |   | Term LoansA |      | Term Loan BCommitment |   | Term LoansB |   |
|-----------------------------------|--------|---------------------------|------------|----------------------------|--------|---------------------------------|--------|------------------|-----------|---------------------------------|--------|------------------|--------|
| Revised                Amount     |   | $                         | __________ |                       | $      | _________                       |   | $                | _________ |                            | $      | _________        |   | $ | _________ |   | $ | _________ |   |
|                              |   |                      |       |                       |   |                            |   |             |      |                            |   |             |   |   |   |   |   |   |   |
| Revised                Percentage |   |                      | ________   | %                          |   | _______                         | %      |             | _______   | %                               |   | _______          | %      |   | _______ | % |   | _______ | % |

----

**Exhibit      A**

**FORM      OF SECURED REVOLVING CREDIT NOTE**

**[__]      AMENDED AND RESTATED SECURED REVOLVING CREDIT NOTE**

| Santa                Monica, California |
|-----------------------------------------|
| **$________________**                   | Dated                as of ___ __, 200_ |

**Borrowers**
**Borrower**
**Payee**
** DOLLARS**
**$**
**Credit      Agreement**
**Collateral      Agent**

----

**Revolving      Credit Notes**

**This      Note and all transactions hereunder and/or evidenced herein shall be construed      in accordance with and governed by the internal laws of the State of California      applicable to contracts made and performed in said State.**

----

| **EQUITY                MEDIA HOLDINGS CORPORATION**                                               |
|----------------------------------------------------------------------------------------------------|
| **ARKANSAS                49, INC.**                                                               |
| **BORGER                BROADCASTING, INC.**                                                       |
| **DENVER                BROADCASTING, INC.**                                                       |
| **EBC                HARRISON, INC.**                                                              |
| **EBC                PANAMA CITY, INC.**                                                           |
| **EBC                SCOTTSBLUFF, INC.**                                                           |
| **EQUITY                NEWS SERVICES, INC., f/k/a****Hispanic                News Network, Inc.** |
| **FORT                SMITH 46, INC.**                                                             |
| **LOGAN                12, INC.**                                                                  |
| **MARQUETTE                BROADCASTING, INC.**                                                    |
| **NEVADA                CHANNEL 3, INC.**                                                          |
| **NEWMONT                BROADCASTING CORPORATION**                                                |
| **PRICE                BROADCASTING, INC.**                                                        |
| **PULLMAN                BROADCASTING INC.**                                                       |
| **REP                PLUS, INC.**                                                                  |
| **RIVER                CITY BROADCASTING, INC.**                                                   |
| **ROSEBURG                BROADCASTING, INC.**                                                     |
| **TV                34, INC.**                                                                     |
| **VERNAL                BROADCASTING, INC.**                                                       |
| **WOODWARD                BROADCASTING, INC.**                                                     |
| **EBC                MINNEAPOLIS, INC.**                                                           |
| **EBC                DETROIT, INC.**                                                               |
| **EBC                BUFFALO, INC.**                                                               |
| **EBC                WATERLOO, INC.**                                                              |
| **EBC                ATLANTA, INC.**                                                               |
| **EBC                SEATTLE, INC.**                                                               |
| **EBC                KANSAS CITY, INC.**                                                           |
| **EBC                SYRACUSE, INC.**                                                              |
| **NEVADA                CHANNEL 6, INC.**                                                          |
| **EBC                PROVO, INC.**                                                                 |
| **EBC                SOUTHWEST FLORIDA, INC.**                                                     |
| **EBC                LOS ANGELES, INC.**                                                           |
| **C.A.S.H.                SERVICES, INC. f/k/a Skyport****Services,                Inc.**          |
| **EBC                NASHVILLE, INC**                                                              |
| **EBC                JACKSONVILLE, INC.**                                                          |

| By:                                                                         |   |
|-----------------------------------------------------------------------------|--------|
| James                H. Hearnsberger, Vice President of                each |

----

|                         |
|------------------------------|
| Notary                Public |

|   |
|--------|
|   |
| [SEAL] |

----

**Exhibit      B-1**

**FORM      OF SECURED PROMISSORY NOTE A**

**AMENDED      AND RESTATED SECURED PROMISSORY NOTE (TERM LOAN A)**

| Santa                Monica, California |
|-----------------------------------------|
| **$______________**                     | Dated                as of ____ __, 200_ |

**Borrowers**
**Borrower**
**Payee**
** DOLLARS**
**$**
**Credit      Agreement**
**Collateral      Agent**

----

**Term      Loan A Notes**

**This      Note and all transactions hereunder and/or evidenced herein shall be construed      in accordance with and governed by the internal laws of the State of California      applicable to contracts made and performed in said State.**

----

| **EQUITY                MEDIA HOLDINGS CORPORATION**                                              |
|---------------------------------------------------------------------------------------------------|
| **ARKANSAS                49, INC.**                                                              |
| **BORGER                BROADCASTING, INC.**                                                      |
| **DENVER                BROADCASTING, INC.**                                                      |
| **EBC                HARRISON, INC.**                                                             |
| **EBC                PANAMA CITY, INC.**                                                          |
| **EBC                SCOTTSBLUFF, INC.**                                                          |
| **EQUITY                NEWS SERVICES, INC., f/k/a****Hispanic                New Network, Inc.** |
| **FORT                SMITH 46, INC.**                                                            |
| **LOGAN                12, INC.**                                                                 |
| **MARQUETTE                BROADCASTING, INC.**                                                   |
| **NEVADA                CHANNEL 3, INC.**                                                         |
| **NEWMONT                BROADCASTING CORPORATION**                                               |
| **PRICE                BROADCASTING, INC,**                                                       |
| **PULLMAN                BROADCASTING, INC.**                                                     |
| **REP                PLUS, INC.**                                                                 |
| **RIVER                CITY BROADCASTING, INC.**                                                  |
| **ROSEBURG                BROADCASTING, INC.**                                                    |
| **SHAWNEE                BROADCASTING, INC.**                                                     |
| **TV                34, INC.**                                                                    |
| **VERNAL                BROADCASTING, INC.**                                                      |
| **WOODWARD                BROADCASTING, INC.**                                                    |
| **EBC                MINNEAPOLIS, INC.**                                                          |
| **EBC                DETROIT, INC.**                                                              |
| **EBC                BUFFALO, INC.**                                                              |
| **EBC                WATERLOO, INC.**                                                             |
| **EBC                ATLANTA, INC.**                                                              |
| **EBC                SEATTLE, INC.**                                                              |
| **EBC                KANSAS CITY, INC.**                                                          |
| **NEVADA                CHANNEL 6, INC.**                                                         |
| **EBC                PROVO, INC.**                                                                |
| **EBC                SOUTHWEST FLORIDA, INC.**                                                    |
| **EBC                LOS ANGELES, INC.**                                                          |
| **C.A.S.H.                SERVICES, INC. f/k/a Skyport****Services,                Inc.**         |
| **EBC                NASHVILLE, INC.**                                                            |
| **EBC                JACKSONVILLE, INC.**                                                         |

| By:                                                              |   |
|------------------------------------------------------------------|--------|
|  James              H. Hearnsberger, Vice President of each |

----

|                         |
|------------------------------|
| Notary                Public |

|   |
|--------|
|   |
| [SEAL] |

----

**Exhibit      B-2**

**FORM      OF SECURED PROMISSORY NOTE B**

**AMENDED      AND RESTATED SECURED PROMISSORY NOTE (TERM LOAN B)**

| Santa                Monica, California |
|-----------------------------------------|
| **$______________**                     | Dated                as of ____ __, 200_ |

**Borrowers**
**Borrower**
**Payee**
** DOLLARS**
**$**
**Credit      Agreement**
**Collateral      Agent**

----

**Term      Loan B Notes**

**This      Note and all transactions hereunder and/or evidenced herein shall be construed      in accordance with and governed by the internal laws of the State of California      applicable to contracts made and performed in said State.**

----

| **EQUITY                  MEDIA HOLDINGS CORPORATION**                                            |
|---------------------------------------------------------------------------------------------------|
| **ARKANSAS                  49, INC.**                                                            |
| **BORGER                  BROADCASTING, INC.**                                                    |
| **DENVER                  BROADCASTING, INC.**                                                    |
| **EBC                  HARRISON, INC.**                                                           |
| **EBC                  PANAMA CITY, INC.**                                                        |
| **EBC                  SCOTTSBLUFF, INC.**                                                        |
| **EQUITY                  NEWS SERVICES, INC., f/k/aHispanic New Network,                  Inc.** |
| **FORT                  SMITH 46, INC.**                                                          |
| **LOGAN                  12, INC.**                                                               |
| **MARQUETTE                  BROADCASTING, INC.**                                                 |
| **NEVADA                  CHANNEL 3, INC.**                                                       |
| **NEWMONT                  BROADCASTING CORPORATION**                                             |
| **PRICE                  BROADCASTING, INC,**                                                     |
| **PULLMAN                  BROADCASTING, INC.**                                                   |
| **REP                  PLUS, INC.**                                                               |
| **RIVER                  CITY BROADCASTING, INC.**                                                |
| **ROSEBURG                  BROADCASTING, INC.**                                                  |
| **TV                  34, INC.**                                                                  |
| **VERNAL                  BROADCASTING, INC.**                                                    |
| **WOODWARD                  BROADCASTING, INC.**                                                  |
| **EBC                  MINNEAPOLIS, INC.**                                                        |
| **EBC                  DETROIT, INC.**                                                            |
| **EBC                  BUFFALO, INC.**                                                            |
| **EBC                  WATERLOO, INC.**                                                           |
| **EBC                  ATLANTA, INC.**                                                            |
| **EBC                  SEATTLE, INC.**                                                            |
| **EBC                  KANSAS CITY, INC.**                                                        |
| **NEVADA                  CHANNEL 6, INC.**                                                       |
| **EBC                  PROVO, INC.**                                                              |
| **EBC                  SOUTHWEST FLORIDA, INC.**                                                  |
| **EBC                  LOS ANGELES, INC.**                                                        |
| **C.A.S.H.                  SERVICES, INC. f/k/a SkyportServices, Inc.**                          |
| **EBC                  NASHVILLE, INC.**                                                          |
| **EBC                  JACKSONVILLE, INC.**                                                       |

| By:                                                                    |   |
|-----------------------------------------------------------------------------|--------|
| James                H. Hearnsberger, Vice President of                each |

----

|                         |
|------------------------------|
| Notary                Public |

|         |
|--------------|
|  [SEAL] |

----

**Exhibit      C**

**FORM      OF JOINDER AGREEMENT**

**JOINDER      AGREEMENT**

**THIS      JOINDER AGREEMENT**
**WELLS      FARGO FOOTHILL, INC.**

**RECITALS**

**EQUITY      MEDIA HOLDINGS CORPORATION**

----

**NOW      THEREFORE**

**Joinder**

**Grant      of Security Interest**

**Representations      and warranties of the New Borrower**

**Notices**

**No      Further Amendments**

----

**Miscellaneous**

***The      Next Page is the Signature Page***

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**IN      WITNESS WHEREOF**

| **NEW                BORROWER:**              |
|-----------------------------------------------|
|                                          |
| [  ]                                |
|                                          |   |
| By:                                           | ___________________________ |
| Name:                                    |   |
| Title:                                        |   |
|                                          |   |
| **THE                AGENT:**                 |
|                                          |
| **WELLS                FARGO FOOTHILL, INC.** |
|                                          |   |
| By:                                           | __________________________________- |
| Name:                                         |   |
| Title:                                        |   |

| **EQUITY                  MEDIA HOLDINGS CORPORATION**                                             |
|----------------------------------------------------------------------------------------------------|
| **ARKANSAS                  49, INC.**                                                             |
| **BORGER                  BROADCASTING, INC.**                                                     |
| **DENVER                  BROADCASTING, INC.**                                                     |
| **EBC                  HARRISON, INC.**                                                            |
| **EBC                  PANAMA CITY, INC.**                                                         |
| **EBC                  SCOTTSBLUFF, INC.**                                                         |
| **EQUITY                  NEWS SERVICES, INC., f/k/aHispanic News Network,                  Inc.** |
| **FORT                  SMITH 46, INC.**                                                           |
| **LOGAN                  12, INC.**                                                                |
| **MARQUETTE                  BROADCASTING, INC.**                                                  |
| **NEVADA                  CHANNEL 3, INC.**                                                        |
| **NEWMONT                  BROADCASTING CORPORATION**                                              |
| **PRICE                  BROADCASTING, INC.**                                                      |
| **PULLMAN                  BROADCASTING INC.**                                                     |
| **REP                  PLUS, INC.**                                                                |
| **RIVER                  CITY BROADCASTING, INC.**                                                 |
| **ROSEBURG                  BROADCASTING, INC.**                                                   |
| **TV                  34, INC.**                                                                   |
| **VERNAL                  BROADCASTING, INC.**                                                     |
| **WOODWARD                  BROADCASTING, INC.**                                                   |
| **EBC                  MINNEAPOLIS, INC.**                                                         |
| **EBC                  DETROIT, INC.**                                                             |
| **EBC                  BUFFALO, INC.**                                                             |
| **EBC                  WATERLOO, INC.**                                                            |
| **EBC                  ATLANTA, INC.**                                                             |
| **EBC                  SEATTLE, INC.**                                                             |
| **EBC                  KANSAS CITY, INC.**                                                         |
| **EBC                  SYRACUSE, INC.**                                                            |
| **NEVADA                  CHANNEL 6, INC.**                                                        |
| **EBC                  PROVO, INC.**                                                               |
| **EBC                  SOUTHWEST FLORIDA, INC.**                                                   |
| **EBC                  LOS ANGELES, INC.**                                                         |
| **C.A.S.H.                  SERVICES, INC. f/k/a SkyportServices, Inc.**                           |
| **EBC                  NASHVILLE, INC.**                                                           |
| **EBC                  JACKSONVILLE, INC.**                                                        |

| By:   |                                         |
|-----------------|----------------------------------------------|
|            | Name:                James H. Hearnsberger   |
|            | Title:                Vice President of each |

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