**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      DC 20549**

**FORM      10-KSB**

| x | ANNUAL                REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE                ACT OF                1934 |
|---|-----------------------------------------------------------------------------------------------------------------------------------|

| o | TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE                ACT OF                1934 |
|---|---------------------------------------------------------------------------------------------------------------------------------------|

| Commission                File Number 333-125907                                                                               |
|--------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                           |
| **LEGACY                COMMUNICATIONS CORPORATION**(Name                of Small Business Issuer in Its Charter)              |
|                                                                                                                           |
| **Nevada**(State                or Other Jurisdiction ofIncorporation                or Organization)                          |   | **87-0579824**(IRS                EmployerIdentification                No.) |
|                                                                                                                           |   |   |
| **210                North 1000 East****St.                George, UT**(Address                of Principal Executive Offices) |   |  **84770**(Zip                Code) |
|                                                                                                                           |
| **(435)                628-1000**(Issuer’s                Telephone Number, Including Area                Code)          |

**Common      Stock, $.001 par value per share**

----

**LEGACY      COMMUNICATIONS CORPORATION**

**TABLE      OF CONTENTS**

| **PART                I.**   | Page                                                                                                                                                        |
|------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                         |                                                                                                                                                        |   |
| Item                1.       | Description                of Business                                                                                                                      | 1 |
| Item                2.       | Description                of Property                                                                                                                      | 7 |
| Item                3.       | Legal                Proceedings                                                                                                                            | 8 |
| Item                4.       | Submission                of Matters to a Vote of Security Holders                                                                                          | 8 |
|                         |                                                                                                                                                        |   |
| **PART                II.**  |                                                                                                                                                        |
|                         |                                                                                                                                                        |   |
| Item                5.       | Market                for Common Equity, Related Stockholder Matters and Small Business                Issuer                Purchases of Equity Securities | 8 |
| Item                6.       | Management’s                Discussion and Analysis or Plan of Operation                                                                              | 9 |
| Item                7.       | Financial                Statements                                                                                                                         | 11 |
|                         | Report                of Independent Registered Public Accounting Firm                                                                                      | 11 |
|                         | Consolidated                Balance Sheet as of December 31, 2006                                                                                           | 12 |
|                         | Consolidated                Statements of Income for the Years Ended December 31, 2006 and                2005                                              | 14 |
|                         | Consolidated                Statements of Stockholders’ Equity (Deficit) for the Years Ended December                31, 2006 and 2005                | 15 |
|                         | Consolidated                Statements of Cash Flows for the Years Ended December 31, 2006 and                2005                                          | 16 |
|                         | Notes                to Consolidated Financial Statements                                                                                                   | 18 |
| Item                8.       | Changes                in and Disagreements with Accountants on Accounting and Financial                Disclosures                                         | 27 |
| Item                8A.      | Controls                and Procedures                                                                                                                      | 28 |
| Item                8B.      | Other                Information                                                                                                                            | 28 |
|                         |                                                                                                                                                        |   |
| **PART                III.** |                                                                                                                                                        |
|                         |                                                                                                                                                        |   |
| Item                9.       | Directors,                Executive Officers, Promoters, Control Persons and Corporate Governance;                Compliance with                           |   |
|                              | Section                16(a) of the Exchange Act                                                                                                            | 28 |
| Item                10.      | Executive                Compensation                                                                                                                       | 31 |
| Item                11.      | Security                Ownership of Certain Beneficial Owners and Management and Related                Stockholder Matters                                | 32 |
| Item                12.      | Certain                Relationships and Related Transactions, and Director                Independence                                                     | 32 |
| Item                13.      | Exhibits                                                                                                                                                    | 33 |
| Item                14.      | Principal                Accountant Fees and Services                                                                                                       | 34 |

----

**PART      I**

| **Item              1.** | **Description                of Business.** |
|--------------------------|---------------------------------------------|

----

| o   | compliance                with the various rules and policies limiting common ownership of                media                properties in a given market; |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | the                “character” of the proposed new owner and those persons that have                significant or “attributable” interests in the new owner; and |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | compliance                with the Communications Act’s limitations on alien ownership, as well as                compliance with other FCC regulations and policies. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | Purchase                on March 3, 2004 of an option to purchase radio station KACE(AM),                1310                kHz, Birch Tree, MO until March 3, 2009. If exercised, we will acquire                the                radio station for an aggregate purchase price of $10,000, of which                $5,000                has been paid in connection with the purchase of the option. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| o   | Exercised                on January 6, 2006 of an option to purchase and closing on April                14, 2006                of the purchase of a construction permit for new AM radio station                KBSP(AM), 1310kHz at Bishop, CA from Eastern Sierra Broadcasting                for                $20,000. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | Exercised                on January 16, 2006 of an option to purchase and closing on May 1,                2006 of                the purchase of a construction permit for new AM radio station KIFO(AM)                1450kHz at Hawthorne, NV from Eastern Sierra Broadcasting for                $13,000. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | Exercised                on March 13, 2006 of an option to purchase and closing on June 20,                2006 of                the purchase of a construction permit for new AM radio station KDAN(AM)                1240kHz at Beatty, NV from Eastern Sierra Broadcasting for                $20,000. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | On                April 11, 2006, AM Radio 1490, Inc, a wholly-owned subsidiary, completed                the purchase of the assets of KYFO (AM) from the Bible Broadcasting                Network pursuant to the Asset Purchase Agreement dated June 15, 2004                for a                cash purchase price of $540,000. |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | On                April 12, 2006, AM Radio 1370, Inc., a wholly-owned subsidiary, completed                the sale of the assets of KUPA(AM) to Broadcast Corporation of America                pursuant to the Asset Purchase Agreement dated June 30, 2005 for                a cash                purchase price of $650,000 |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | Exercised                on January 6, 2007 of an option to purchase a construction permit                for new                AM radio station KTNP(AM) 1400kHz at Tonopah, NV for $20,000. The                FCC                application for assignment was granted on March 16, 2007 and closing                of                the purchase is expected to take place on or about May 1,                2007. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | KENT(AM)                1400 kHz, Parowan, UT. |
|---------------|------------------------------------------------|

| o   | KITT(FM)                100.1 MHz, Soda Springs, ID. |
|---------------|------------------------------------------------------|

| o   | KNFL(AM)                1470 kHz, Tremonton, UT. |
|---------------|--------------------------------------------------|

| o   | KOGN(AM)                1490kHz, Ogden, UT. |
|---------------|---------------------------------------------|
| o   | KPTO(AM)                1440kHz, Pocatello, ID. |
|---------------|-------------------------------------------------|

| o   | KBSPAM)                1340kHz, Bishop, CA |
|---------------|--------------------------------------------|

| o   | KDAN(AM)                1240kHz, Beatty, NV |
|---------------|---------------------------------------------|

| o   | KIFO(AM)                1450kHz, Hawthorne, NV |
|---------------|------------------------------------------------|

| o   | Santa                Clara, UT - 1490kHz (St. George market). |
|---------------|---------------------------------------------------------------|

| o   | Middletown,                ID (Boise market) - 1400 kHz. We have entered into settlement agreements                with all competing applicants that provide for issuance of a construction                permit to us. The settlement agreements were filed with the FCC on                October                31, 2005. |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | Mililani,                HI (Honolulu market) - 1230 kHz. We have entered into settlement                agreements with all competing applicants that provide for issuance                of a                construction permit to us. The settlement agreements were filed with                the                FCC on October 31, 2005. |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | Beaver,                UT - 1230 kHz. We have filed documents with the FCC that show our                short-form indication of interest should be accepted under the applicable                auction rules. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| o   | Santa                Clara, UT (St. George market) - 1290 kHz. We have filed documents                with the                FCC that show our short-form indication of interest should be accepted                under the applicable auction rules. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | Mesquite,                NV - 1250 kHz. We have filed documents with the FCC that show our                short-form indication of interest should be accepted under the applicable                auction rules. |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | Audio                programming by cable television systems, direct broadcast satellite                systems, Internet content providers (both landline and wireless)                and other                digital audio broadcast formats. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | Satellite                digital audio radio service, which has resulted in the introduction                of two                new subscriber-based satellite radio services with numerous channels                and                sound quality equivalent to that of compact discs. |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | In-band                on-channel digital radio, which could improve the quality of existing                AM                and FM radio signals. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | Low                power FM radio, which has resulted in additional FM radio broadcast                outlets that are designed to serve small, localized areas on a                non-commercial basis. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| o   | assigns                frequency bands for broadcasting; |
|---------------|----------------------------------------------------------|

| o   | determines                the particular frequencies, locations, operating powers and other                technical parameters of broadcasting stations; |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | issues,                renews, revokes and modifies station construction permits and operating                licenses; |
|---------------|-------------------------------------------------------------------------------------------------------------------------|

| o   | determines                whether to approve changes in ownership or control of station construction                permits and operating licenses; |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | regulates                equipment used by stations; and |
|---------------|----------------------------------------------------------|

| o   | adopts                and implements regulations and policies that directly or indirectly                affect                the ownership, operation and employment practices of stations. |
|---------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| o   | changes                in the FCC’s ownership rules and policies, including changes to the local                radio ownership rules and the limitations on the cross-ownership                of radio                and other media proposals to increase regulatory fees or to impose                spectrum use or other fees on FCC licensees; |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | technical                and frequency allocation matters and changes to broadcast technical                requirements; |
|---------------|---------------------------------------------------------------------------------------------------------------------------|

| o   | proposals                to restrict or prohibit the advertising of beer, wine and other alcoholic                beverages; |
|---------------|------------------------------------------------------------------------------------------------------------------------------|

| o   | proposals                to restrict or prohibit the advertising of on-line casinos or on-line                sports-betting services; |
|---------------|----------------------------------------------------------------------------------------------------------------------------------------|

| o   | proposals                to limit the tax deductibility of advertising expenses by advertisers; |
|---------------|-------------------------------------------------------------------------------------------------|

| o   | restatement                in revised form of FCC’s equal employment opportunity rules and revision                to rules relating to political broadcasting; and |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| o   | proposals                to regulate or prohibit payments to stations by independent record                promoters. |
|---------------|-----------------------------------------------------------------------------------------------------------------------|

*Our      poor financial condition raises substantial doubt about our ability to continue      as a going concern. *

*We      are dependent upon acquisition and sale of radio stations and the rights to      construct or upgrade radio stations. *

*Regulatory      restrictions on transfers of construction permits, broadcast licenses and radio      stations may delay or prevent an acquisition or sale of a radio station.*

*We      may be unable to obtain a broadcast license if we fail to complete the      construction of a broadcast facility within the time required by the      construction permit. *

*Other      agreements relating to the acquisition of radio stations are subject to      deadlines and periodic payments that we may not be able to meet.*

----

*We      are dependent on the continued availability of E. Morgan Skinner, Jr., our      President and CEO; Lavon Randall, our Secretary and Treasurer, and R. Michael      Bull, our Principal Accounting Officer. *

*If      we      cannot renew our Federal Communications Commission licenses, our revenues will      be impaired. *

*The      FCC may increase enforcement activities, or Congress may increase the penalties,      regarding obscene or indecent material that could cause us to pay substantial      fines. *

*If      we      do not properly respond to changes in technology, services and standards that      characterize our industry, our revenues may be reduced. *

| **Item              2.** | **Description                of Property.** |
|--------------------------|---------------------------------------------|

----

| **Item              3.** | **Legal                Proceedings.** |
|--------------------------|---------------------------------------|

*Bryan      L. Pugh v. Legacy Communications et al.*
*Matthew      Excell v. Legacy Communications et al.,*

| **Item              4.** | **Submission                of Matters to a Vote of Security                Holders.** |
|--------------------------|----------------------------------------------------------------------------------------|

**PART      II**

| **Item                5.** | **Market                For Common Equity, Related Stockholder Matters and Small Business                Issuer                Purchases of Equity                Securities.** |
|----------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                          |   |   |
|-------------------------------|--------|--------|
| Fiscal                2006    | High   | Low    |
| Third                Quarter  | $.25   | $.10   |
| Fourth                Quarter | $.15   | $.10   |

----

| **Item              6.** | **Management’s                Discussion and Analysis or Plan of                Operation.** |
|--------------------------|----------------------------------------------------------------------------------------------------|

----

|   **Radio                Station**         |   |  **Expected****Proceeds** |      |  **Current****Investment** |   | **Estimated                Cost****to                be****Incurred** |   | **Expected****Completion****Date** |    |
|------------------------------------------------------|--------|--------------------------------|-----------|---------------------------------|--------|-----------------------------------------------------------------------|--------|------------------------------------|---------|
|                                                 |   |                           |      |                            |   |                                                                  |   |                               |    |
| KPTO(AM),                1440 kHz, Pocatello, ID     |   | $                              | 500,000   |                            | $      | 255,000                                                               |   | $                                  | 25,000  |   |  October                2007 |   |
|                                                 |   |                           |      |                            |   |                                                                  |   |                               |    |   |   |   |
| KBET(AM),                790 kHz, Winchester, NV     |   | $                              | 2,500,000 |                            | $      | 580,815                                                               |   | $                                  | 20,000  |   |  March                2007 |   |
|                                                 |   |                           |      |                            |   |                                                                  |   |                               |    |   |   |   |
| KITT(FM),                100.1 MHz, Soda Springs, ID |   | $                              | 2,000,000 |                            | $      | 237,500                                                               |   | $                                  | 125,000 |   |  October                2007 |   |

----

| **Item              7.** | **Financial                Statements.** |
|--------------------------|------------------------------------------|

----

**LEGACY      COMMUNICATIONS CORPORATION**

**CONSOLIDATED      BALANCE SHEET**

**ASSETS**

|                                                        |   | **December                31,****2006** |      |
|-------------------------------------------------------------|--------|-----------------------------------------|-----------|
|                                                        |   |                                    |      |
| CURRENT                ASSETS                               |   |                                    |      |
|                                                        |   |                                    |      |
| Cash                                                        |   | $                                       | 36,059    |   |
| Escrowed                deposits on station sales (Note 14) |   |                                    | 200,000   |   |
| Prepaid                expenses                             |   |                                    | 27,159    |   |
|                                                        |   |                                    |      |   |
| Total                Current Assets                         |   |                                    | 263,218   |   |
|                                                        |   |                                    |      |   |
| PROPERTY                AND EQUIPMENT - NET (Notes 2 and 3) |   |                                    | 623,138   |   |
|                                                        |   |                                    |      |   |
| OTHER                ASSETS                                 |   |                                    |      |   |
|                                                        |   |                                    |      |   |
| FCC                licenses - Net (Notes 2 and 3)           |   |                                    | 600,863   |   |
| Deposits                                                    |   |                                    | 20,900    |   |
| Deferred                tax asset (Note 2)                  |   |                                    | 718,084   |   |
| Construction                in progress (Note 3)            |   |                                    | 723,428   |   |
|                                                        |   |                                    |      |   |
| Total                Other Assets                           |   |                                    | 2,063,275 |   |
|                                                        |   |                                    |      |   |
| TOTAL                ASSETS                                 |   |                                    | 2,949,631 |   |

----

**LEGACY      COMMUNICATIONS CORPORATION**

**CONSOLIDATED      BALANCE SHEET (Continued)**

**LIABILITIES      AND STOCKHOLDERS’ EQUITY (DEFICIT)**

|                                                                                                                                                  |   | **December                31,****2006** |       |
|-------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|------------|
|                                                                                                                                                  |   |                                    |       |
| CURRENT                LIABILITIES                                                                                                                    |   |                                    |       |
|                                                                                                                                                  |   |                                    |       |
| Accounts                payable                                                                                                                       |   | $                                       | 355,887    |   |
| Accrued                liabilities (Note 7)                                                                                                           |   |                                    | 1,023,245  |   |
| Other                liabilities                                                                                                                      |   |                                    | 78,844     |   |
| Other                liabilities - related party (Note 4)                                                                                             |   |                                    | 184,249    |   |
| Deposits                on station sales (Note 14)                                                                                                    |   |                                    | 750,000    |   |
| Income                tax payable (Note 2)                                                                                                            |   |                                    | 50,200     |   |
| Notes                payable - related parties (Note 5)                                                                                               |   |                                    | 674,533    |   |
| Notes                payable (Note 6)                                                                                                                 |   |                                    | 2,204,470  |   |
| Accrued                interest payable (Note 8)                                                                                                      |   |                                    | 890,324    |   |
|                                                                                                                                                  |   |                                    |       |   |
| Total                Current Liabilities                                                                                                              |   |                                    | 6,211,752  |   |
|                                                                                                                                                  |   |                                    |       |   |
| LONG-TERM                LIABILITY                                                                                                                    |   |                                    |       |   |
|                                                                                                                                                  |   |                                    |       |   |
| Notes                payable (Note 6)                                                                                                                 |   |                                    | 10,475     |   |
|                                                                                                                                                  |   |                                    |       |   |
| Total                Long-Term Liability                                                                                                              |   |                                    | 10,475     |   |
|                                                                                                                                                  |   |                                    |       |   |
| Total                Liabilities                                                                                                                      |   |                                    | 6,222,227  |   |
|                                                                                                                                                  |   |                                    |       |   |
| COMMITMENTS                AND CONTINGENCIES (Note 12)                                                                                                |   |                                    |       |   |
|                                                                                                                                                  |   |                                    |       |   |
| STOCKHOLDERS’                EQUITY (DEFICIT)                                                                                                   |   |                                    |       |   |
|                                                                                                                                                  |   |                                    |       |   |
| Preferred                stock; 5,000,000 shares authorized at $0.001 par value, no shares                outstanding                                 |   |                                    | -          |   |
| Common                stock, 50,000,000 shares authorized at $0.001 par value, 17,289,172                shares                issued and outstanding |   |                                    | 17,289     |   |
| Additional                paid-in capital                                                                                                             |   |                                    | 4,970,560  |   |
| Accumulated                deficit                                                                                                                    |   |                                    | (8,260,445 | ) |
|                                                                                                                                                  |   |                                    |       |   |
| Total                Stockholders’ Equity (Deficit)                                                                                             |   |                                    | (3,272,596 | ) |
|                                                                                                                                                  |   |                                    |       |   |
| TOTAL                LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)                                                                             |   | $                                       | 2,949,631  |   |

----

**LEGACY      COMMUNICATIONS CORPORATION**

**CONSOLIDATED      STATEMENTS OF INCOME**

|                                                                              |   | **For                the Years Ended****December                31** |       |
|-----------------------------------------------------------------------------------|--------|----------------------------------------------------------------------|------------|
|                                                                              |   |                                                                 |       |   |   |
|                                                                              |   | **2006**                                                             |       | **2005** |   |
|                                                                              |   |                                                                 |       |   |   |
| REVENUE                                                                           |   |                                                                 |       |   |   |
|                                                                              |   |                                                                 |       |   |   |
| Gain                on sale of station (Note 11)                                  |   | $                                                                    | 516,094    |   | $ | - |   |
| Other                revenue (Note 10)                                            |   |                                                                 | 372,682    |   |   | 79,474 |   |
|                                                                              |   |                                                                 |       |   |   |   |   |
| Total                Revenue                                                      |   |                                                                 | 888,776    |   |   | 79,474 |   |
|                                                                              |   |                                                                 |       |   |   |   |   |
| EXPENSES                                                                          |   |                                                                 |       |   |   |   |   |
|                                                                              |   |                                                                 |       |   |   |   |   |
| Depreciation                and amortization Interest                expense |   |                                                                 | 223,505    |   |   | 317,719 |   |
| General                and administrative                                         |   |                                                                 | 595,786    |   |   | 751,560 |   |
| Officers                and directors stock bonus                                 |   |                                                                 | 200,000    |   |   | - |   |
| Salaries                and personnel costs                                       |   |                                                                 | 276,530    |   |   | 249,298 |   |
|                                                                              |   |                                                                 |       |   |   |   |   |
| Total                Expenses                                                     |   |                                                                 | 1,295,821  |   |   | 1,318,577 |   |
|                                                                              |   |                                                                 |       |   |   |   |   |
| INCOME                (LOSS) FROM OPERATIONS                                      |   |                                                                 | (407,045   | ) |   | (1,239,103 | ) |
|                                                                              |   |                                                                 |       |   |   |   |   |
| OTHER                INCOME (EXPENSE)                                             |   |                                                                 |       |   |   |   |   |
|                                                                              |   |                                                                 |       |   |   |   |   |
| Gain                on sale of assets                                             |   |                                                                 | -          |   |   | 3,056 |   |
| Gain                on extinguishment of debt                                     |   |                                                                 | 1,151,119  |   |   | - |   |
| Interest                expense                                                   |   |                                                                 | (433,449   | ) |   | (232,436 | ) |
|                                                                              |   |                                                                 |       |   |   |   |   |
| Total                Other Income (Expense)                                       |   |                                                                 | 717,670    |   |   | (229,380 | ) |
|                                                                              |   |                                                                 |       |   |   |   |   |
| INCOME                (LOSS) BEFORE INCOME TAXES                                  |   |                                                                 | 310,625    |   |   | (1,468,483 | ) |
|                                                                              |   |                                                                 |       |   |   |   |   |
| Income                tax (benefit) (Note 2)                                      |   |                                                                 | 113,245    |   |   | (639,129 | ) |
|                                                                              |   |                                                                 |       |   |   |   |   |
| NET                INCOME (LOSS)                                                  |   | $                                                                    | 197,380    |   | $ | (829,354 | ) |
|                                                                              |   |                                                                 |       |   |   |   |   |
| BASIC                AND FULLY DILUTED EARNINGS (LOSS) PER SHARE                  |   |                                                                 | 0.01       |   | $ | (0.05 | ) |
|                                                                              |   |                                                                 |       |   |   |   |   |
| WEIGHTED                AVERAGE NUMBER OF SHARES OUTSTANDING                      |   |                                                                 | 17,383,295 |   |   | 17,174,172 |   |

----

**LEGACY      COMMUNICATIONS CORPORATION**

**CONSOLIDATED      STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)**

|                                                                                                 |   | Common                Stock |       |   |   |                                     |   |                       |      |
|------------------------------------------------------------------------------------------------------|--------|-----------------------------|------------|--------|--------|------------------------------------------|--------|----------------------------|-----------|
|                                                                                                 |   | Shares                      |       | Amount |   | AdditionalPaid-in                Capital |   | DeferredConsultingServices |      | AccumulatedDeficit |   |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |
| Balance,                December 31, 2004                                                            |   |                        | 17,174,172 |   | $      | 17,174                                   |   | $                          | 4,765,675 |   | $ | (225,050 | ) | $ | (7,628,471 | ) |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |   |   |   |   |   |
| Amortization                of deferred consulting services                                          |   |                        | -          |   |   | -                                        |   |                       | -         |   |   | 202,545 |   |   | - |   |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |   |   |   |   |   |
| Net                loss for the year ended December 31, 2006                                         |   |                        | -          |   |   | -                                        |   |                       | -         |   |   | - |   |   | (829,354 | ) |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |   |   |   |   |   |
| Balance,                December 31, 2005                                                            |   |                        | 17,174,172 |   |   | 17,174                                   |   |                       | 4,765,675 |   |   | (22,505 | ) |   | (8,457,825 | ) |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |   |   |   |   |   |
| Common                stock issued to officers and directors for bonus                               |   |                        | 200,000    |   |   | 200                                      |   |                       | 199,800   |   |   | - |   |   | - |   |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |   |   |   |   |   |
| Common                stock issued pursuant to management contract                                   |   |                        | 100,000    |   |   | 100                                      |   |                       | 99,900    |   |   | - |   |   | - |   |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |   |   |   |   |   |
| Amortization                of deferred consulting services                                          |   |                        | -          |   |   | -                                        |   |                       | -         |   |   | 22,505 |   |   | - |   |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |   |   |   |   |   |
| Common                stock issued pursuant to loan agreement                                        |   |                        | 25,000     |   |   | 25                                       |   |                       | 24,975    |   |   | - |   |   | - |   |
|                                                                                                 |   |                        |       |   |   |                                          |   |                       |      |   |   |   |   |   |   |   |
| Common                stock issued pursuant to service agreement                                     |   |                        | 100,000    |   |   | 100                                      |   |                       | 99,900    |   |   | - |   |   | - |   |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |   |   |   |   |   |
| Common                stock cancelled following the renegotiated consulting                agreement |   |                        | (250,000   | )      |   | (250                                     | )      |                       | (249,750  | ) |   | - |   |   | - |   |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |   |   |   |   |   |
| Common                stock issued pursuant to service agreement                                     |   |                        | 40,000     |   |   | 40                                       |   |                       | 39,960    |   |   | - |   |   | - |   |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |   |   |   |   |   |
| Common                stock issued pursuant to loan agreement                                        |   |                        | 25,000     |   |   | 25                                       |   |                       | 2,475     |   |   | - |   |   | - |   |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |   |   |   |   |   |
| Common                stock cancelled following the settlement of litigation                         |   |                        | (125,000   | )      |   | (125                                     | )      |                       | (12,375   | ) |   | - |   |   | - |   |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |   |   |   |   |   |
| Net                income for the year ended December 31, 2006                                       |   |                        | -          |   |   | -                                        |   |                       | -         |   |   | - |   |   | 197,380 |   |
|                                                                                                 |   |                        |       |   |   |                                     |   |                       |      |   |   |   |   |   |   |   |
| Balance                December 31, 2006                                                             |   |                        | 17,289,172 |   | $      | 17,289                                   |   | $                          | 4,970,560 |   | $ | - |   | $ | (8,260,445 | ) |

----

**LEGACY      COMMUNCATIONS CORPORATION**

**CONSOLIDATED      STATEMENTS OF CASH FLOWS**

|                                                                                                |   | **For                the Years Ended****December                31,** |       |
|-----------------------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------|------------|
|                                                                                                |   |                                                                  |       |   |   |
|                                                                                                |   | **2006**                                                              |       | **2005** |   |
|                                                                                                |   |                                                                  |       |   |   |
| CASH                FLOWS FROM OPERATING ACITIVITIES:                                               |   |                                                                  |       |   |   |
|                                                                                                |   |                                                                  |       |   |   |
| Net                income (loss)                                                                    |   | $                                                                     | 197,380    |   | $ | (829,354 | ) |
| Adjustments                to reconcile net income (loss) to net cash used by operating activities: |   |                                                                  |       |   |   |   |   |
| Depreciation                and amortization                                                        |   |                                                                  | 223,505    |   |   | 317,719 |   |
| Gain                on disposition of station asset                                                 |   |                                                                  | (516,094   | ) |   | (3,056 | ) |
| Loss                attributable to termination of project                                          |   |                                                                  | 4,995      |   |   | 18,152 |   |
| Amortization                of deferred consulting services                                         |   |                                                                  | 22,505     |   |   | 202,545 |   |
| Shares                issued for services and bonuses                                               |   |                                                                  | 467,500    |   |   | - |   |
| Shares                cancelled                                                                     |   |                                                                  | (262,500   | ) |   | - |   |
| Changes                in assets and liabilities:                                                   |   |                                                                  |       |   |   |   |   |
| (Increase)                decrease in escrow deposits                                               |   |                                                                  | 283,438    |   |   | (458,438 | ) |
| (Increase)                decrease in prepaid expenses                                              |   |                                                                  | 3,260      |   |   | (28,385 | ) |
| (Increase)                decrease in deposits/other assets                                         |   |                                                                  | 6,300      |   |   | (16,640 | ) |
| (Increase)                decrease in deferred tax asset                                            |   |                                                                  | 110,445    |   |   | (469,529 | ) |
| Increase                (decrease) in accounts payable                                              |   |                                                                  | 14,840     |   |   | 75,354 |   |
| Increase                (decrease) in accrued expenses                                              |   |                                                                  | 62,862     |   |   | 53,671 |   |
| Increase                (decrease) in income tax payable                                            |   |                                                                  | 800        |   |   | (169,605 | ) |
| Increase                (decrease) in accrued interest payable                                      |   |                                                                  | 87,634     |   |   | 104,319 |   |
| Increase                (decrease) in other liabilities                                             |   |                                                                  | (969,176   | ) |   | (1,271 | ) |
| Purchase                of station assets                                                           |   |                                                                  | (1,222,864 | ) |   | (243,341 | ) |
| Increase                in deposits on station sales                                                |   |                                                                  | 150,000    |   |   | 600,000 |   |
|                                                                                                |   |                                                                  |       |   |   |   |   |
| Net                Cash (Used) by Operating Activities                                              |   |                                                                  | (1,335,170 | ) |   | (847,859 | ) |
|                                                                                                |   |                                                                  |       |   |   |   |   |
| CASH                FLOWS FROM INVESTING ACTIVITIES:                                                |   |                                                                  |       |   |   |   |   |
|                                                                                                |   |                                                                  |       |   |   |   |   |
| Proceeds                from sale of fixed assets                                                   |   |                                                                  | 675,000    |   |   | 11,945 |   |
|                                                                                                |   |                                                                  |       |   |   |   |   |
| Net                Cash Provided by Investing Activities                                            |   |                                                                  | 675,000    |   |   | 11,945 |   |
|                                                                                                |   |                                                                  |       |   |   |   |   |
| CASH                FLOWS FROM FINANCING ACTIVITIES:                                                |   |                                                                  |       |   |   |   |   |
|                                                                                                |   |                                                                  |       |   |   |   |   |
| Proceeds                from related parties - short term notes payable                             |   |                                                                  | 121,000    |   |   | 132,000 |   |
| Repayments                to related parties - short term notes payable                             |   |                                                                  | (2,000     | ) |   | (17,225 | ) |
| Repayment                of notes payable                                                           |   |                                                                  | (618,937   | ) |   | (22,964 | ) |
| Proceeds                from notes payable - related parties                                        |   |                                                                  | 85,000     |   |   | 18,000 |   |
| Proceeds                from notes payable                                                          |   |                                                                  | 1,108,634  |   |   | 704,875 |   |
|                                                                                                |   |                                                                  |       |   |   |   |   |
| Net                Cash Provided by Financing Activities                                            |   |                                                                  | 693,697    |   |   | 814,686 |   |
|                                                                                                |   |                                                                  |       |   |   |   |   |
| INCREASE                (DECREASE) IN CASH                                                          |   |                                                                  | 33,527     |   |   | (21,228 | ) |
|                                                                                                |   |                                                                  |       |   |   |   |   |
| CASH                AT BEGINNING OF PERIOD                                                          |   |                                                                  | 2,532      |   |   | 23,760 |   |
|                                                                                                |   |                                                                  |       |   |   |   |   |
| CASH                AT END OF PERIOD                                                                |   | $                                                                     | 36,059     |   | $ | 2,532 |   |

----

**LEGACY      COMMUNCATIONS CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOW      (CONTINUED)**

|                                                                                   |   | **For                the Years Ended****December                31,** |    |
|----------------------------------------------------------------------------------------|--------|-----------------------------------------------------------------------|---------|
|                                                                                   |   |                                                                  |    |   |   |
|                                                                                   |   | **2006**                                                              |    | **2005** |   |
|                                                                                   |   |                                                                  |    |   |   |
| SUPPLEMENTAL                DISCLOSURE OF NON CASH INVESTING AND FINANCING ACTIVITIES: |   |                                                                  |    |   |   |
|                                                                                   |   |                                                                  |    |   |   |
| Common                stock issued for services and bonus                              |   | $                                                                     | 467,500 |   | $ | - |   |
| Common                stock cancelled                                                  |   | $                                                                     | 262,500 |   | $ | - |   |
|                                                                                   |   |                                                                  |    |   |   |   |   |
| CASH                PAID FOR:                                                          |   |                                                                  |    |   |   |   |   |
|                                                                                   |   |                                                                  |    |   |   |   |   |
| Interest                                                                               |   | $                                                                     | 276,444 |   | $ | 163,196 |   |
| Income                taxes                                                            |   | $                                                                     | 1,000   |   | $ | - |   |

----

**LEGACY      COMMUNICATIONS CORPORATION**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

**December      31, 2006 and 2005**

| §   | AM                Radio 790, Inc., a Utah corporation and licensee of KBET(AM), Winchester,                NV. |
|--------------------|----------------------------------------------------------------------------------------------------------------|

| §   | AM                Radio 1440, Inc., a Utah corporation and licensee of KPTO(AM), Pocatello,                ID. |
|--------------------|----------------------------------------------------------------------------------------------------------------|

| §   | AM                Radio 1470, Inc., a Utah corporation and licensee of KNFL (AM), Tremonton,                UT. |
|--------------------|-----------------------------------------------------------------------------------------------------------------|

| §   | AM                Radio 1490, Inc., a Utah corporation and licensee of KOGN (AM), Ogden,                UT. |
|--------------------|-------------------------------------------------------------------------------------------------------------|

| §   | Tri-State                Media Corporation, a Utah corporation and licensee of KITT (FM),                Soda                Springs, ID. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------|

| §   | Americast                Media Corporation, a Utah corporation and applicant for construction                permits of AM radio stations serving the communities of Middletown,                ID,                Beaver, UT, Santa Clara, UT, Mesquite, NV and Mililani,                HI. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | Radio                1340, LLC. a Utah limited-liability company and permitee of a new                construction permit for KBSP(AM) 1340kHz, Bishop,                CA. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | Radio                1240, LLC. a Utah limited-liability company and permitee of a new                construction permit for KDAN(AM) 1240kHz, Beatty,                NV. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | Radio                1450, LLC. a Utah limited-liability company and permitee of a new                construction permit for KIFO(AM) 1450kHz, Hawthorne, NV. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | Radio                1400, LLC. a Utah limited-liability company and applicant in the                assignment of a new construction permit for KTNP(AM) 1400kHz, Tonopah,                NV. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                             |   | December                31, |       |
|------------------------------------------------------------------|--------|-----------------------------|------------|
|                                                             |   | 2006                        |       | 2005 |   |
|                                                             |   |                        |       |   |   |
| Numerator                - Income (Loss)                         |   | $                           | 197,380    |   | $ | (829,354 | ) |
|                                                             |   |                        |       |   |   |   |   |
| Denominator                - weighted average shares outstanding |   |                        | 17,383,295 |   |   | 17,174,172 |   |
|                                                             |   |                        |       |   |   |   |   |
| Basic                income (loss) per share                     |   | $                           | 0.01       |   | $ | (0.05 | ) |

|     |   | 2006   |    | 2005   |   |
|----------|--------|--------|---------|--------|--------|
| Federal: |   |   |    |   |   |
| Current  |   | $      | -       |   | $      | - |   |
| Deferred |   |   | 98,285  |   |   | (558,452 | ) |
|     |   |   |    |   |   |   |   |
| State:   |   |   |    |   |   |   |   |
| Current  |   |   | 800     |   |   | 1,400 |   |
| Deferred |   |   | 14,160  |   |   | (82,122 | ) |
|     |   | $      | 113,245 |   | $      | (639,174 | ) |

|                                     |   | 2006   |    | 2005   |   |
|------------------------------------------|--------|--------|---------|--------|--------|
| Deferred                tax assets:      |   |   |    |   |   |
| NOL                Carryover             |   | $      | 322,945 |   | $      | 285,086 |   |
| Depreciation                             |   |   | -       |   |   | 88,388 |   |
| Accrued                Expenses          |   |   | 431,300 |   |   | 455,055 |   |
|                                     |   |   |    |   |   |   |   |
| Deferred                tax liabilities: |   |   |    |   |   |   |   |
| Depreciation                             |   |   | (36,200 | )      |   | - |   |
| Net                deferred tax asset    |   | $      | 718,045 |   | $      | 828,529 |   |

----

|                                    |   | 2006   |     | 2005   |   |
|-----------------------------------------|--------|--------|----------|--------|--------|
|                                    |   |   |     |   |   |
| Book                Income              |   | $      | 105,600  |   | $      | (572,710 | ) |
| Gain/Loss                Sale of Assets |   |   | (31,160  | )      |   | 347 |   |
| State                Taxes              |   |   | (310     | )      |   | - |   |
| NOL                Utilization          |   |   | (133,150 | )      |   | - |   |
| Depreciation                            |   |   | (32,210  | )      |   | 83,791 |   |
| Accrued                Expenses         |   |   | 3,630    |   |   | 12,094 |   |
| Accrued                Compensation     |   |   | 7,650    |   |   | 20,933 |   |
| Stock                for Services       |   |   | 79,950   |   |   | - |   |
| Other                                   |   |   | -        |   |   | (546 | ) |
| Income                Tax Expense       |   | $      | -        |   | $      | (456,091 | ) |

| Description                                |   | Useful                Lives                  |
|--------------------------------------------|--------|----------------------------------------------|
| Office                and studio equipment |   | 5                years                       |
| FCC                Licenses                |   | 8                years                       |
| Vehicles                                   |   | 5                years                       |
| Tower                                      |   | 20                years                      |
| Lease                improvements          |   | 15                years or life of the lease |

**SFAS      No. 123(R)**

**SFAS      No. 154**

**SFAS      No. 156 **

----

**FIN      No. 48 **

**SFAS      No. 157**

----

| Office                and studio equipment                    |   | $      | 92,582   |   |
|---------------------------------------------------------------|--------|--------|----------|--------|
| Vehicles                                                      |   |   | 33,130   |   |
| Transmitter                site equipment                     |   |   | 255,802  |   |
| Towers                                                        |   |   | 201,010  |   |
| Buildings                                                     |   |   | 56,774   |   |
| Land                                                          |   |   | 140,000  |   |
| Leasehold                improvements                         |   |   | 32,654   |   |
|                                                          |   |   |     |   |
| Total                                                         |   |   | 811,952  |   |
| Less                accumulated depreciation and amortization |   |   | (188,814 | )      |
|                                                          |   |   |     |   |
| Property                and Equipment - Net                   |   | $      | 623,138  |   |
|                                                          |   |   |     |   |
| FCC                licenses                                   |   | $      | 716,260  |   |
| Less:                Accumulated amortization                 |   |   | (115,397 | )      |
|                                                          |   |   |     |   |
| FCC                Licenses - Net                             |   | $      | 600,863  |   |

| Various                payables due to shareholders                                                      |   | $      | 106,000 |   |
|----------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|
| Accrued                interest on payables due to shareholders ranging from 5.1% to                7.5% |   |   | 78,249  |   |
|                                                                                                     |   |   |    |   |
| Related                Party Balance - Net Liability                                                     |   | $      | 184,249 |   |

| Various                notes due to shareholders, non-interest bearing, unsecured and due                on                demand.       |   | $      | 52,000  |   |
|------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|
|                                                                                                                                     |   |   |    |   |
| Short                term notes due to President, bearing interest at 10.50%, unsecured                and due                on demand. |   |   | 193,775 |   |
|                                                                                                                                     |   |   |    |   |
| Notes                due to shareholder, bearing interest at 8.00% unsecured and due on                demand.                           |   |   | 210,000 |   |
|                                                                                                                                     |   |   |    |   |
| Notes                due to shareholder, bearing interest at 8.00%, unsecured and due                on                demand.           |   |   | 18,000  |   |
|                                                                                                                                     |   |   |    |   |
| Notes                due to Officers, bearing interest at 12.00%, unsecured and due on                demand.                            |   |   | 85,000  |   |
|                                                                                                                                     |   |   |    |   |
| Notes                due to shareholder, bearing interest at 10.50%, unsecured and due                on                demand.          |   |   | 55,758  |   |
|                                                                                                                                     |   |   |    |   |
| Notes                due to shareholders, bearing interest at 8.00%, unsecured and due                on                demand.          |   |   | 60,000  |   |
|                                                                                                                                     |   |   |    |   |
| Total                Notes Payable - related party                                                                                       |   | $      | 674,533 |   |

----

| Note                payable to an individual dated November 1, 1997, bearing interest                at                10.00%, due on demand, unsecured.                                                   |   | $      | 63,000    |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|-----------|--------|
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable to an individual dated November 1, 1997 bearing interest                at 10.00%                due on demand, unsecured.                                                     |   |   | 16,500    |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable to an individual dated November 1, 1997, bearing interest                at                10.00%, due on demand, unsecured.                                                   |   |   | 4,028     |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable to an individual dated November 1, 1997, bearing interest                at                10.00%, due on demand, unsecured.                                                   |   |   | 23,500    |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable to an individual dated December 23, 1994, bearing interest                at                10.00%, due on demand, unsecured.                                                  |   |   | 10,000    |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable to an individual dated March 3, 1995, bearing interest at                8.00%,                due on demand, unsecured.                                                       |   |   | 75,000    |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable to an individual dated June 27, 2005, bearing interest at                10.50%,                due on demand, unsecured.                                                      |   |   | 129,375   |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Notes                payable to an individual dated September 15, 2006, bearing interest                at                10.50%, due on demand, unsecured                                                 |   |   | 38,057    |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable to an individual dated November 20, 1997, bearing interest                at                11.00%, due on demand, unsecured.                                                  |   |   | 13,000    |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable to an individual dated October 12, 1999, bearing interest                at                10.00%, due on demand, unsecured.                                                   |   |   | 40,000    |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable on a vehicle loan dated December 4, 2003, bearing interest                at                2.90%, requiring monthly payments of $471, due by November 5,                2009. |   |   | 15,735    |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable to a corporation dated May 8, 2006, bearing a 3.00% fee,                due on                demand, secured by current assets.                                               |   |   | 256,750   |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable to a corporation dated October 17, 2006, bearing interest                at                9.50%, due April 30, 2007, unsecured.                                               |   |   | 50,000    |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable to a corporation dated July 23, 2004, bearing interest at                14.75%,                due July 23, 2005, secured by current assets.                                  |   |   | 750,000   |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable to a corporation dated July 23, 2004, bearing interest at                14.75%,                due April 7, 2006, secured by current assets.                                  |   |   | 550,000   |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Note                payable to an individual dated December 16, 1999, bearing interest                at                25.00%, due on demand, unsecured.                                                  |   |   | 180,000   |   |
|                                                                                                                                                                                                       |   |   |      |   |
| Total                notes payable                                                                                                                                                                         |   |   | 2,214,945 |   |

----

| Total                notes payable (from previous page) |   | $      | 2,214,945  |   |
|---------------------------------------------------------|--------|--------|------------|--------|
| Less:                current maturities                 |   |   | (2,204,470 | )      |
|                                                    |   |   |       |   |
| Total                Long-Term Debt                     |   | $      | 10,475     |   |

| December                31, 2007 |   | $      | 2,204,470 |   |
|----------------------------------|--------|--------|-----------|--------|
| 2008                             |   |   | 5,415     |   |
| 2009                             |   |   | 5,060     |   |
|                             |   |   |      |   |
|                             |   | $      | 2,214,945 |   |

| Accrued                payroll                       |   | $      | 10,525    |   |
|------------------------------------------------------|--------|--------|-----------|--------|
| Deferred                Compensation                 |   |   | 298,190   |   |
| Accrued                payroll taxes                 |   |   | 566,349   |   |
| Penalty                and interest on payroll taxes |   |   | 148,181   |   |
|                                                 |   |   |      |   |
| Total                Accrued Liabilities             |   | $      | 1,023,245 |   |

| Accrued                interest payable to related parties on notes payable                payroll |   | $      | 161,190 |   |
|----------------------------------------------------------------------------------------------------|--------|--------|---------|--------|
| Accrued                interest payable to unrelated parties on notes payable                      |   |   | 600,456 |   |
| Accrued                interest payable to shareholder on notes converted to                equity |   |   | 128,678 |   |
|                                                                                               |   |   |    |   |
| Total                accrued interest payable                                                      |   | $      | 890,324 |   |

----

| Forfeiture                of Deposit paid by Lakeshore Media |   | $      | 335,000 |   |
|--------------------------------------------------------------|--------|--------|---------|--------|
| Option                fees paid by Lakeshore Media           |   |   | 37,682  |   |
|                                                         |   |   |    |   |
| Total                other revenue at December 31, 2006      |   | $      | 372,682 |   |
|                                                         |   |   |    |   |
| Option                fees paid by Lakeshore Media           |   | $      | 79,474  |   |
|                                                         |   |   |    |   |
| Total                other revenue at December 31, 2005      |   | $      | 79,474  |   |

| Net                gain on sale of AM Radio 1370, Inc. station         |   | $      | 516,094 |   |
|------------------------------------------------------------------------|--------|--------|---------|--------|
|                                                                   |   |   |    |   |
| Total                net gain on sale of assets at December 31, 2006   |   | $      | 516,094 |   |
|                                                                   |   |   |    |   |
| Net                gain on disposition of other assets                 |   | $      | 3,056   |   |
|                                                                   |   |   |    |   |
| Total                net gain on sale of stations at December 31, 2005 |   | $      | 3,056   |   |

| Year                EndedDecember                31, |   |   |    |
|------------------------------------------------------|--------|--------|---------|
|                                                 |   |   |    |
| 2007                                                 |   | $      | 30,210  |   |
| 2008                                                 |   |   | 28,980  |   |
| 2009                                                 |   |   | 28,980  |   |
| 2010                                                 |   |   | 29,980  |   |
| 2011                                                 |   |   | 28,980  |   |
|                                                 |   |   |    |   |
|                                                 |   | $      | 146,130 |   |

----

|  | · | 50,000                shares of common stock in AM Radio 1400, Inc. licensee of KENT(AM),                Parowan, UT. |
|--|--------|-----------------------------------------------------------------------------------------------------------------------|

|  | · | 50,000                shares of common stock in AM Radio 1440, Inc. licensee of KPTO(AM),                Pocatello, ID. |
|--|--------|-------------------------------------------------------------------------------------------------------------------------|

|  | · | 50,000                shares of common stock in AM Radio 1470, Inc. licensee of KNFL(AM),                Tremonton, UT. |
|--|--------|-------------------------------------------------------------------------------------------------------------------------|

|  | · | 50,000                shares of common stock in AM Radio 1490, Inc. licensee of KOGN(AM),                Ogden,                UT. |
|--|--------|------------------------------------------------------------------------------------------------------------------------------------|

|  | · | 50,000                shares of common stock in AM Radio 790, Inc. permitee of KBET(AM),                Winchester, NV. |
|--|--------|-------------------------------------------------------------------------------------------------------------------------|

|  | · | 50,000                shares of common stock in Tri-State Media Corporation licensee of                KITT(FM), Soda Springs, ID. |
|--|--------|------------------------------------------------------------------------------------------------------------------------------------|

|  | · | Radio                1340, LLC, a Utah limited liability company and permitee of a new                construction permit for KBSP(AM), 1340kHz,in Bishop,                CA. |
|--|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | Radio                1240, LLC, a Utah limited liability company and permitee of a new                construction permit for KDAN(AM), 1240kHz, Beatty,                NV. |
|--|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | Radio                1450, LLC, a Utah limited liability company and permitee of a new                construction permit for KIFO(AM), 1450kHz, Hawthorne,                NV. |
|--|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | · | The                development and operation of four (4) new AM radio station construction                permits for new radio stations; KBSP(AM) 1340 kHz, Bishop, CA; KDAN(AM)                1240kHz, Beatty, NV; KIFO(AM) 1450kHz, Hawthorne, NV and KTNP(AM)                1400kHz,                Tonopah, NV. All radio stations must be constructed pursuant to the                authorized construction permit granted by the                FCC. |
|--|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | The                Company will continue to seek out, acquire, develop and operate AM                and FM                radio station licenses and/or permits which the Company determines                has                strategic growth potential. |
|--|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | The                Company exercised its option to purchase a construction permit for                a new                AM radio station KTNP(AM) 1400kHz, Tonopah, Nevada on January 6,                2007. An                assignment application was filed with the FCC by Radio 1400, LLC,                a wholly                owned subsidiary of the Company. The assignment was granted by the                FCC on                March 16, 2007 with final rule and order expected on or about May                1, 2007. |
|--|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | On                January 18, 2007 the Company reduced the loan from US Capital by                $449,590                with the Second Additional Deposit by Beasley Broadcast Group,                Inc. |
|--|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | On                January 29, 2007 the Company arranged to borrow $120,000 from a                shareholder for use in its debt settlement and operational                expenses. |
|--|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | On                January 31, 2007 the Company borrowed an additional $73,000 from                US                Capital for use in its operational                expenses. |
|--|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | On                March 28, 2007, the Company closed on its sale of the assets of AM                Radio                790, Inc. - KBET(AM), Winchester, NV to Beasley Broadcast Group,                Inc. for                $2,500,000. |
|--|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | On                March 28, 2007, the Company paid off loans of $923,410 to US Capital,                Inc.                and reduced the debt to a shareholder by $140,634 from the proceeds                of the                sale of KBET. |
|--|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **Item                8.** | **Changes                In and Disagreements With Accountants on Accounting and Financial                Disclosures** |
|----------------------------|-------------------------------------------------------------------------------------------------------------------------|

----

| **Item              8A.** | **Controls                and Procedures.** |
|---------------------------|---------------------------------------------|

| **Item              8B.** | **Other                Information.** |
|---------------------------|---------------------------------------|

**PART      III**

| **Item                9.** | **Directors,                Executive Officers, Promoters and Control Persons; Compliance with                Section                16(a) of the Exchange Act.** |
|----------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **Name**                              | **Age** | **Position**                                | **Held                Since** |
|---------------------------------------|---------|---------------------------------------------|-------------------------------|
|                                  |    |                                        |                          |
| E.                Morgan Skinner, Jr. | 66      | President,                CEO, Director     | 1997                          |
| Lavon                Randall          | 64      | Secretary/Director                          | 1997                          |
| R.                Michael Bull        | 58      | Principal                Accounting Officer | 1998                          |
| Jeffrey                B. Bate        | 43      | Director                                    | 2005                          |

----

**E.      Morgan Skinner, Jr.**
*Certified      Radio Marketing Consultant*

**Lavon      Randall**

**R.      Michael Bull**

**Jeffrey      B. Bate**

----

| **Name                and Position**                                              | **Number                of Transactions****Not                Reported** | **Number                of Reports****Filed                Late** | **Number                of Transactions****Reported                Late** |
|-----------------------------------------------------------------------------------|--------------------------------------------------------------------------|-------------------------------------------------------------------|---------------------------------------------------------------------------|
|                                                                              |                                                                     |                                                              |                                                                      |
| E.                Morgan Skinner, Jr., President,                CEO and Director | 0                                                                        | 1                                                                 | 0                                                                         |
| Lavon                RandallSecretary                and Director                 | 0                                                                        | 1                                                                 | 0                                                                         |
| R.                Michael BullPrincipal                Accounting Officer         | 0                                                                        | 1                                                                 | 0                                                                         |
| Jeffrey                B. BateDirector                                            | 0                                                                        | 1                                                                 | 0                                                                         |

|   | ·  | The                name of the shareholder and evidence of the person’s ownership of our                shares, including the number of shares owned and the length of time                of                ownership; and |
|--------|--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ·  | The                name of the candidate, the candidate’s resume or a listing of her or his                qualifications to be one of our directors and the person’s consent to be                named as a director if nominated by the                directors. |
|--------|--------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**Item      10. **
**Executive      Compensation.**

**SUMMARY      COMPENSATION TABLE**

|  **Name                and Principal Position** |   |  **Year** |   | **Salary****($)** |   | **Bonus****($)** |   | **Stock                Awards****($)** |   | **All                Other****Compensation** |    | **Total****($)** |   |
|------------------------------------------------------|--------|----------------|--------|-------------------|--------|------------------|--------|----------------------------------------|--------|----------------------------------------------|---------|------------------|--------|
|                                                 |   |           |   |              |   |             |   |                                   |   |                                         |    |             |   |
| E.                Morgan Skinner, Jr.                |   |  2006     |   | $                 | 85,000 |             |   | -                                      |   | $                                            | 100,000 |             |   | - |   | $ | 185,000 |   |
| CEO,                President, and Director          |   |  2005     |   | $                 | 85,000 |             |   | -                                      |   |                                         | -       |             |   | - |   | $ | 85,000 |   |
|                                                 |   |           |   |              |   |             |   |                                   |   |                                         |    |             |   |   |   |   |   |   |

| 1.   | Does                not include perquisites and other personal benefits in amounts less                than                10% of the total annual salary and other                compensation. |
|----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | simplicity,                clarity, and fairness to both the employee and the                Company; |
|--|--------|-------------------------------------------------------------------------------------------------------|

|  | · | preservation                of Company resources, including available cash;                and |
|--|--------|------------------------------------------------------------------------------------------------|

|  | · | opportunity                to receive fair compensation if the Company is                successful. |
|--|--------|------------------------------------------------------------------------------------------------------|

|  | · | Base                Salary and Benefits are designed to provide a minimum threshold to                attract                and retain employees identified as necessary for our                success. |
|--|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | · | Cash                Bonuses and equity awards are designed to provide supplemental                compensation when the Company achieves financial or operational goals                within the limits of our available resources. |
|--|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  **Name**                        | **Fees                Earned****or                Paid in****Cash****($)** |   | **Stock                Awards****($)** |   | **Option****Awards****($)** |   | **All                Other****Compensation** |   | **Total****($)**         |
|---------------------------------------|----------------------------------------------------------------------------|--------|----------------------------------------|--------|-----------------------------|--------|----------------------------------------------|--------|--------------------------|
|                                  |                                                                       |   |                                   |   |                        |   |                                         |   |                     |
| E.                Morgan Skinner, Jr. | -                                                                          |   | -                                      |   | -                           |   | -                                            |   | -                        |
| Lavon                Randall          | -                                                                          |   | $                100,000               |   | -                           |   | -                                            |   | $                100,000 |
| Jeffrey                B. Bate        | -                                                                          |   | -                                      |   | -                           |   | -                                            |   | -                        |

----

| **Item              11.** | **Security                Ownership of Certain Beneficial Owners and Management and Related                Stockholder Matters.** |
|---------------------------|-----------------------------------------------------------------------------------------------------------------------------------|

|  **Name                and Address**                                       | **Number                of Shares****Owned                Beneficially** | **Percentages****Of                Outstanding****Shares** |
|---------------------------------------------------------------------------------|--------------------------------------------------------------------------|------------------------------------------------------------|
|                                                                            |                                                                     |                                                       |
| E.                Morgan Skinner, Jr. *President,                CEO, Director* | 6,453,408                (1)                                             | 37.22%                                                     |
|                                                                            |                                                                     |                                                       |
| Lavon                Randall*Secretary,                Director*                | 5,813,408                (2)                                             | 33.53%                                                     |
|                                                                            |                                                                     |                                                       |
| Jeffrey                B. Bate*Director*                                        | 350,000                                                                  | 2.02%                                                      |
|                                                                            |                                                                     |                                                       |
| R.                Michael Bull*Principal                Accounting Officer*     | 787,500                                                                  | 4.54%                                                      |
|                                                                            |                                                                     |                                                       |
| All                Executive Officers and directors as a group (4 people)       | 13,404,316                                                               | 77.31%                                                     |

|  | 1. | E.                Morgan Skinner, Jr. is the trustee of Bear River Trust and beneficially                owns 6,453,408 shares of our common stock under the Bear River                Trust. |
|--|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 2. | Lavon                Randall is the trustee of the Randall Family Trust and beneficially                owns                5,813,408 shares of our common stock under the Randall Family                Trust. |
|--|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| **Item12.** | **Certain                Relationships and Related                Transactions.** |
|-------------|-----------------------------------------------------------------------------------|

----

| **Name                and Relationship**                 |   | **Amount                as of****12/31/2006** |    | **Highest****Balance                since****12/31/2005** |   |
|----------------------------------------------------------|--------|-----------------------------------------------|---------|-----------------------------------------------------------|--------|
|                                                     |   |                                          |    |                                                      |   |
| E.                Morgan Skinner, Jr. CEO and President* |   | $                                             | 399,609 |                                                      | $      | 399,609 |   |
| Lavon                Randall, Director                   |   | $                                             | 483,132 |                                                      | $      | 483,132 |   |
| Jeffrey                B. Bate, Director*                |   | $                                             | 52,636  |                                                      | $      | 52,636 |   |
|                                                     |   |                                          |    |                                                      |   |   |   |

| **Item              13.** | **Exhibits.** |
|---------------------------|---------------|

| **Exhibit                No.** | **Description                of Exhibit**                                                                                                                                                                                                                                        |
|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                           |                                                                                                                                                                                                                                                                             |
| 3.1                       | Articles                of Incorporation (Incorporated by reference to Registration Statement                No.                333-125907)                                                                                                                                      |
|                           |                                                                                                                                                                                                                                                                             |
| 3.2                       | Restated                Articles of Incorporation (Incorporated by reference to Registration                Statement No. 333-125907)                                                                                                                                            |
|                           |                                                                                                                                                                                                                                                                             |
| 3.3                       | By-Laws                (Incorporated by reference to Registration Statement No.                333-125907)                                                                                                                                                                       |
|                           |                                                                                                                                                                                                                                                                             |
| 3.4                       | Amended                By-Laws (Incorporated by reference to Registration Statement No.                333-125907)                                                                                                                                                               |
|                           |                                                                                                                                                                                                                                                                             |
| 4.1                       | Specimen                Stock Certificate for Common Stock, $.001 par value (Incorporated                by                reference to Registration Statement No. 333-125907)                                                                                                   |
|                           |                                                                                                                                                                                                                                                                             |
| 10.1                      | Form                of 1998 Employee Stock Option Plan (Incorporated by reference to                Registration Statement No. 333-125907)                                                                                                                                       |
|                           |                                                                                                                                                                                                                                                                             |
| 10.2                      | Purchase                agreement, dated January 7, 2003, regarding our acquisition of Diamond                Broadcasting Corporation; currently a subsidiary of ours (Incorporated                by                reference to Registration Statement No. 333-125907)        |
|                           |                                                                                                                                                                                                                                                                             |
| 10.3                      | Promissory                Note and Related Agreements, dated July 23, 2004, pursuant to loan                we                agreed to receive from US Capital, Incorporated (Incorporated by                reference                to Registration Statement No. 333-125907) |
|                           |                                                                                                                                                                                                                                                                             |
| 10.4                      | First                Modification of Promissory Note and Agreements with US Capital,                Incorporated, dated September 23, 2004 ((Incorporated by reference                to                Registration Statement No. 333-125907)                                   |
|                           |                                                                                                                                                                                                                                                                             |
| 10.5                      | Second                Modification of Promissory Note and Agreements with US Capital,                Incorporated, dated March 14, (Incorporated by reference to Registration                Statement No. 333-125907)                                                           |
|                           |                                                                                                                                                                                                                                                                             |
| 10.6                      | KUPA(AM)                1370 kHz, Broadcast License (Incorporated by reference to Registration                Statement No. 333-125907)                                                                                                                                          |
|                           |                                                                                                                                                                                                                                                                             |
| 10.7                      | KENT(AM)                1400 kHz, Broadcast License (Incorporated by reference to Registration                Statement No. 333-125907)                                                                                                                                          |
|                           |                                                                                                                                                                                                                                                                             |
| 10.8                      | KITT(FM)                 100.1 MHz, Broadcast Station Construction Permit (Incorporated by                reference to Registration Statement No. 333-125907)                                                                                                               |
|                           |                                                                                                                                                                                                                                                                             |
| 10.9                      | Option                Agreement, dated March 3, 2004, between us and Eagle Bluff Enterprise                (Incorporated by reference to Registration Statement No.                333-125907)                                                                                   |
|                           |                                                                                                                                                                                                                                                                             |
| 10.10                     | Option                Agreement, dated November 18, 2004,  between us, Diamond (our                subsidiary), and Eastern Sierra Broadcasting (Incorporated by reference                to                Registration Statement No.                333-125907)           |

----

|        |                                                                                                                                                                                                                                                                          |
|-------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.11  | Option                Agreement, dated March 3, 2005, between us and Lakeshore Media, LLC                (Incorporated by reference to Registration Statement No.                333-125907)                                                                                  |
|        |                                                                                                                                                                                                                                                                          |
| 10.12  | KENT(AM)                1400 kHz - Transmitter & Tower site lease (Incorporated by reference                to Registration Statement No. 333-125907)                                                                                                                     |
|        |                                                                                                                                                                                                                                                                          |
| 10.13  | KNFL(AM)                1470 kHz - Transmitter & Tower site lease (Incorporated by reference                to Registration Statement No. 333-125907)                                                                                                                     |
|        |                                                                                                                                                                                                                                                                          |
| 10.14  | KPTO(AM)                1440 kHz - Transmitter & Tower site lease (Incorporated by reference                to Registration Statement No. 333-125907)                                                                                                                     |
|        |                                                                                                                                                                                                                                                                          |
| 10.15  | Service                Agreement dated June 30, 2004 between Legacy Communications Corporation                and GoPublicToday.com, Inc. (Incorporated by reference to Registration                Statement No. 333-125907)                                                 |
|        |                                                                                                                                                                                                                                                                          |
| 10.16  | Form                of Subscription Agreement (Incorporated by reference to Registration                Statement No. 333-125907)                                                                                                                                             |
|        |                                                                                                                                                                                                                                                                          |
| 10.17  | Option                Agreement dated August 22, 2005 between our subsidiary, AM Radio                790,                Inc., and Beasley Broadcasting of Nevada, LLC (Incorporated by reference                to Registration Statement No. 333-125907)                   |
|        |                                                                                                                                                                                                                                                                          |
| 10.18  | Asset                Purchase Agreement dated June 30, 2005 between us and Broadcast                Corporation of America (Incorporated                by reference to Registration Statement No. 333-125907)                                                                |
|        |                                                                                                                                                                                                                                                                          |
| 10.19  | Amended                Asset Purchase Agreement dated October 3, 2005 between us and Broadcast                Corporation of America (Incorporated by reference to Registration                Statement No. 333-125907)                                                      |
|        |                                                                                                                                                                                                                                                                          |
| 10.20  | Amendment                to Option Agreement dated September 27, 2005 between us and Lakeshore                Media, LLC (Incorporated by reference to Registration Statement No.                333-125907)                                                                  |
|        |                                                                                                                                                                                                                                                                          |
| 10.21  | Asset                Purchase Agreement dated June 15, 2004 between our subsidiary, AM                Radio                1490, Inc. and Bible Broadcasting Network, Inc. (Incorporated by                reference                to Registration Statement No. 333-125907) |
|        |                                                                                                                                                                                                                                                                          |
| 10.22  | Amendment                dated October 24, 2005 to Asset Purchase Agreement between our subsidiary                AM Radio 1490, Inc. and Bible Broadcasting Network, Inc. (Incorporated                by                reference to Registration Statement No. 333-125907) |
|        |                                                                                                                                                                                                                                                                          |
| 10.23*      | Asset                Purchase Agreement dated December 12, 2006 among AM Radio 790, Inc.,                KDWN                License Limited Partnership and Beasley FM Acquisition                Corp.                                                                      |
|        |                                                                                                                                                                                                                                                                          |
| 21.1*       | Subsidiaries                of the Issuer                                                                                                                                                                                                                                     |
|        |                                                                                                                                                                                                                                                                          |
| 31.1*       | Certification                required by Rule 13a-14(a) by the Chief Executive                Officer                                                                                                                                                                         |
|        |                                                                                                                                                                                                                                                                          |
| 31.2*       | Certification                required by Rule 13a-14(a) by the Chief Financial                Officer                                                                                                                                                                         |
|        |                                                                                                                                                                                                                                                                          |
| 32.1*       | Certification                required by Rule 13a-14(b)                                                                                                                                                                                                                       |

**Item      14.**
**Principal      Accountant Fees and Services.**

----

|                                   |   | **Year                Ended December 31,** |   |
|----------------------------------------|--------|--------------------------------------------|--------|
|                                   |   |                                       |   |   |   |
| **Description                of Fees** |   | **2006**                                   |   | **2005** |   |
|                                   |   |                                       |   |   |   |
| Audit                Fees              |   | $                                          | 24,494 |   | $ | 20,924 |   |
| Audit                Related Fees      |   |                                       | -      |   | $ | 12,310 |   |
| Tax                Fees                |   | $                                          | 646    |   | $ | 6,732 |   |
| All                Other Fees          |   |                                       | -      |   |   | - |   |

----

**SIGNATUREs**

|                                     |                                                 |                                                 |
|------------------------------------------|------------------------------------------------------|------------------------------------------------------|
|                                     | **LEGACY                COMMUNICATIONS CORPORATION** |
|                                |                                            |                                            |
| Date: April                26, 2007 | By:                                        | /s/              E.              Morgan Skinner, Jr. |
|                                     | Name: E.              Morgan Skinner, Jr        |
|                                     | Title: Chief                Executive Officer   |

|                                       |                                                                                                                                                    |                                                     |
|--------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------|
|                                  |                                                                                                                                               |                                                |
| Date: April                  26, 2007 | By:                                                                                                                                           | /s/                E.                Morgan Skinner, Jr. |
|                                       | Name:E.                Morgan Skinner, Jr.                                                                                                              |
|                                       | Title:                    Chief                    Executive Officer                              Director |

|                                       |                                                                                               |                                              |
|--------------------------------------------|----------------------------------------------------------------------------------------------------|---------------------------------------------------|
|                                  |                                                                                          |                                         |
| Date: April                  26, 2007 | By:                                                                                      | /s/                R.                Michael Bull |
|                                       | Name:R.                Michael Bull                                                                |
|                                       | Title:                      Principal                      Accounting                      Officer |

|                                         |                                                                                                      |                                                         |
|----------------------------------------------|-----------------------------------------------------------------------------------------------------------|--------------------------------------------------------------|
|                                    |                                                                                                 |                                                    |
| Date: April                    26, 2007 | By:                                                                                             | /s/                  E.                  Morgan Skinner, Jr. |
|                                         | Name:E.                  Morgan Skinner, Jr.                                                              |
|                                         | Title:                          Chief                          Financial                          Officer |

|                                         |                                       |                               |
|----------------------------------------------|--------------------------------------------|------------------------------------|
|                                    |                                  |                          |
| Date: April                    26, 2007 | By:                              | /s/                  Lavon Randall |
|                                         | Name:Lavon                  Randall        |
|                                         | Title:                            Director |

|                                         |                                         |                                 |
|----------------------------------------------|----------------------------------------------|--------------------------------------|
|                                    |                                    |                            |
| Date: April                    26, 2007 | By:                                | /s/                  Jeffrey B. Bate |
|                                         | Name:Jeffrey                  B. Bate        |
|                                         | Title:                              Director |

----

**EXHIBIT      INDEX**

| **Exhibit                No.** | **Description                of Exhibit**                                                                                                                                                                |
|--------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                           |                                                                                                                                                                                                     |
| 10.23                     | Asset                Purchase Agreement dated December 12, 2006 among AM Radio 790, Inc.,                KDWN                License Limited Partnership and Beasley FM Acquisition                Corp. |
|                           |                                                                                                                                                                                                     |
| 21.1                      | Subsidiaries                of the Issuer                                                                                                                                                                |
|                           |                                                                                                                                                                                                     |
| 31.1                      | Certification                required by Rule 13a-14(a) by the Chief Executive                Officer                                                                                                    |
|                           |                                                                                                                                                                                                     |
| 31.2                      | Certification                required by Rule 13a-14(a) by the Chief Financial                Officer                                                                                                    |
|                           |                                                                                                                                                                                                     |
| 32.1                      | Certification                required by Rule 13a-14(b)                                                                                                                                                  |

----