----

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

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

|                                    |                             |
|-----------------------------------------|----------------------------------|
| Delaware                                | 51-0388022                       |
| (State of Organizationor Incorporation) | (IRS EmployerIdentification No.) |

|                                                         |                                                       |
|--------------------------------------------------------------|------------------------------------------------------------|
| 7650 Chippewa Road, Suite 305Brecksville, Ohio 44141         | (440) 526-2227                                             |
| (Address of Principal Executive Offices, including Zip Code) | (Registrant’s Telephone Number, Including Area Code) |

|                              |                                                       |                                |   |
|-----------------------------------|------------------------------------------------------------|-------------------------------------|--------|
| Large accelerated filer |  ̈                                                     | Accelerated filer              |  ̈ |
|                              |                                                       |                                |   |
| Non-accelerated filer             | x  (Do not check if a smaller reporting company) | Smaller reporting company |  ̈ |

----

|          |                                                                                                 |   |
|---------------|------------------------------------------------------------------------------------------------------|--------|
|          |                                                                                                 | Page   |
| PART I   | FINANCIAL INFORMATION                                                                                |   |
|          |                                                                                                 |   |
| ITEM 1.       | Financial Statements (Unaudited)                                                                     |   |
|          |                                                                                                 |   |
|          | Condensed Balance Sheets at June 30, 2010 and December 31, 2009                                      | 1      |
|          |                                                                                                 |   |
|          | Condensed Statements of Operations for the three and six months ended June 30, 2010 and 2009         | 2      |
|          |                                                                                                 |   |
|          | Condensed Statement of Changes in Shareholder’s Deficit for the six months ended June 30, 2010 | 3      |
|          |                                                                                                 |   |
|          | Condensed Statements of Cash Flows for the six months ended June 30, 2010 and 2009                   | 4      |
|          |                                                                                                 |   |
|          | Notes to Condensed Financial Statements                                                              | 5      |
|          |                                                                                                 |   |
| ITEM 2.       | Management’s Discussion and Analysis of Financial Condition and Results of Operations          | 15     |
|          |                                                                                                 |   |
| ITEM 3.       | Quantitative and Qualitative Disclosures about Market Risk                                           | 22     |
|          |                                                                                                 |   |
| ITEM 4.       | Controls and Procedures                                                                              | 22     |
|          |                                                                                                 |   |
| PART II       | OTHER INFORMATION                                                                                    |   |
|          |                                                                                                 |   |
| ITEM 1.       | Legal Proceedings                                                                                    | 23     |
|          |                                                                                                 |   |
| ITEM 1A. | Risk Factors                                                                                         | 23     |
|          |                                                                                                 |   |
| ITEM 2.       | Unregistered Sales of Equity Securities and Use of Proceeds                                          | 23     |
|          |                                                                                                 |   |
| ITEM 3.  | Defaults Upon Senior Securities                                                                      | 23     |
|          |                                                                                                 |   |
| ITEM 4.  | Reserved                                                                                             | 23     |
|          |                                                                                                 |   |
| ITEM 5.       | Other Information                                                                                    | 23     |
|          |                                                                                                 |   |
| ITEM 6.       | Exhibits                                                                                             | 24     |
|          |                                                                                                 |
| EXHIBIT INDEX |                                                                                                 |

----

| ITEM 1. | Financial Statements |
|--------------|----------------------|

|                                                                                                                                          |   |              |      |   |                  |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|-----------|--------|-----------------------|--------|
|                                                                                                                                          |   | June 30,2010 |      |   | December 31,2009 |   |
|                                                                                                                                          |   | (Unaudited)       |      |   | (Note 2)              |   |
| ASSETS                                                                                                                                        |   |              |      |   |                  |   |
| Current assets:                                                                                                                               |   |              |      |   |                  |   |
| Cash and cash equivalents                                                                                                                     |   | $                 | 724       |   |                  | $      | 903 |   |
| Accounts receivable                                                                                                                           |   |              | 1,601     |   |                  |   | 1,430 |   |
| Current portion of broadcast rights                                                                                                           |   |              | 1,644     |   |                  |   | 3,014 |   |
| Prepaid expenses and other current assets                                                                                                     |   |              | 112       |   |                  |   | 216 |   |
| Deferred tax asset                                                                                                                            |   |              | 8         |   |                  |   | 8 |   |
| Total current assets                                                                                                                          |   |              | 4,089     |   |                  |   | 5,571 |   |
|                                                                                                                                          |   |              |      |   |                  |   |   |   |
| Property and equipment, net                                                                                                                   |   |              | 27,170    |   |                  |   | 28,610 |   |
| Broadcast rights                                                                                                                              |   |              | 983       |   |                  |   | 1,785 |   |
| Goodwill                                                                                                                                      |   |              | 18,729    |   |                  |   | 18,729 |   |
| FCC licenses                                                                                                                                  |   |              | 20,698    |   |                  |   | 20,698 |   |
| Other intangible assets, net                                                                                                                  |   |              | 22,942    |   |                  |   | 25,517 |   |
| Other noncurrent assets                                                                                                                       |   |              | 1,009     |   |                  |   | 1,785 |   |
| Deferred tax asset                                                                                                                            |   |              | 332       |   |                  |   | 336 |   |
| Total assets                                                                                                                                  |   | $                 | 95,952    |   |                  | $      | 103,031 |   |
| LIABILITIES AND SHAREHOLDER’S DEFICIT                                                                                                   |   |              |      |   |                  |   |   |   |
| Current liabilities:                                                                                                                          |   |              |      |   |                  |   |   |   |
| Current portion of debt                                                                                                                       |   | $                 | 390       |   |                  | $      | 1,727 |   |
| Current portion of broadcast rights payable                                                                                                   |   |              | 2,015     |   |                  |   | 3,362 |   |
| Taxes payable                                                                                                                                 |   |              | 26        |   |                  |   | 56 |   |
| Accounts payable                                                                                                                              |   |              | 46        |   |                  |   | 111 |   |
| Accrued expenses                                                                                                                              |   |              | 591       |   |                  |   | 629 |   |
| Interest payable (Note 7)                                                                                                                     |   |              | 5,694     |   |                  |   | 24 |   |
| Deferred revenue                                                                                                                              |   |              | 747       |   |                  |   | 992 |   |
| Due to Nexstar Broadcasting, Inc.                                                                                                             |   |              | 11,581    |   |                  |   | 13,370 |   |
| Total current liabilities                                                                                                                     |   |              | 21,090    |   |                  |   | 20,271 |   |
|                                                                                                                                          |   |              |      |   |                  |   |   |   |
| Debt                                                                                                                                          |   |              | 355,614   |   |                  |   | 170,633 |   |
| Broadcast rights payable                                                                                                                      |   |              | 1,670     |   |                  |   | 2,714 |   |
| Deferred tax liabilities                                                                                                                      |   |              | 7,750     |   |                  |   | 7,180 |   |
| Deferred revenue                                                                                                                              |   |              | 593       |   |                  |   | 709 |   |
| Deferred gain on sale of assets                                                                                                               |   |              | 1,650     |   |                  |   | 1,737 |   |
| Other liabilities                                                                                                                             |   |              | 4,538     |   |                  |   | 4,441 |   |
| Total liabilities                                                                                                                             |   |              | 392,905   |   |                  |   | 207,685 |   |
| Commitments and contingencies                                                                                                                 |   |              |      |   |                  |   |   |   |
|                                                                                                                                          |   |              |      |   |                  |   |   |   |
| Shareholder’s deficit:                                                                                                                  |   |              |      |   |                  |   |   |   |
| Common stock, $1 par value; 1,000 shares authorized; 1,000 shares issued and outstanding at both June 30 2010 and December 31, 2009 |   |              | 1         |   |                  |   | 1 |   |
| Subscription receivable                                                                                                                       |   |              | (1        | )      |                  |   | (1 | ) |
| Contra equity due from affiliate on debt issuance (Note 7)                                                                                    |   |              | (188,351  | )      |                  |   | — |   |
| Accumulated deficit                                                                                                                           |   |              | (108,602  | )      |                  |   | (104,654 | ) |
| Total shareholder’s deficit                                                                                                             |   |              | (296,953) |   |                  |   | (104,654 | ) |
| Total liabilities and shareholder’s deficit                                                                                             |   | $                 | 95,952    |   |                  | $      | 103,031 |   |

----

|                                                                                                              |   |                            |    |   |                          |   |    |   |   |   |    |   |
|-------------------------------------------------------------------------------------------------------------------|--------|---------------------------------|---------|--------|-------------------------------|--------|---------|--------|--------|--------|---------|--------|
|                                                                                                              |   | Three Months EndedJune 30, |    |   | Six Months EndedJune 30, |   |
|                                                                                                              |   | 2010                            |    |   | 2009                          |   |    | 2010   |   |   | 2009    |   |
|                                                                                                              |   | (Unaudited)                     |    |   | (Unaudited)                   |   |
| Net broadcast revenue                                                                                             |   | $                               | 2,364   |   |                          | $      | 2,065   |   |   | $      | 4,593   |   |   | $ | 4,174 |   |
| Revenue from Nexstar Broadcasting, Inc.                                                                           |   |                            | 7,005   |   |                          |   | 6,140   |   |   |   | 13,745  |   |   |   | 12,228 |   |
| Net revenue                                                                                                       |   |                            | 9,369   |   |                          |   | 8,205   |   |   |   | 18,338  |   |   |   | 16,402 |   |
| Operating expenses:                                                                                               |   |                            |    |   |                          |   |    |   |   |   |    |   |   |   |   |   |
| Direct operating expenses (exclusive of depreciation and amortization shown separately below)                     |   |                            | 1,482   |   |                          |   | 1,515   |   |   |   | 2,928   |   |   |   | 3,141 |   |
| Selling, general, and administrative expenses (exclusive of depreciation and amortization shown separately below) |   |                            | 528     |   |                          |   | 597     |   |   |   | 1,130   |   |   |   | 1,342 |   |
| Fees incurred pursuant to local service agreements with Nexstar Broadcasting, Inc.                                |   |                            | 1,790   |   |                          |   | 1,800   |   |   |   | 3,590   |   |   |   | 3,825 |   |
| Amortization of broadcast rights                                                                                  |   |                            | 869     |   |                          |   | 1,040   |   |   |   | 1,842   |   |   |   | 2,202 |   |
| Amortization of intangible assets                                                                                 |   |                            | 1,287   |   |                          |   | 1,287   |   |   |   | 2,574   |   |   |   | 2,574 |   |
| Depreciation                                                                                                      |   |                            | 733     |   |                          |   | 1,039   |   |   |   | 1,463   |   |   |   | 1,893 |   |
| Loss (gain) on asset exchange                                                                                     |   |                            | — |   |                          |   | (249    | )      |   |   | 11      |   |   |   | (497 | ) |
| Loss (gain) on asset disposal, net                                                                                |   |                            | (3      | )      |                          |   | (1      | )      |   |   | 18      |   |   |   | 2 |   |
| Total operating expenses                                                                                          |   |                            | 6,686   |   |                          |   | 7,028   |   |   |   | 13,556  |   |   |   | 14,482 |   |
| Income from operations                                                                                            |   |                            | 2,683   |   |                          |   | 1,177   |   |   |   | 4,782   |   |   |   | 1,920 |   |
| Interest expense, including amortization of debt financing costs                                                  |   |                            | (3,349  | )      |                          |   | (1,310  | )      |   |   | (5,684  | )      |   |   | (2,716 | ) |
| Loss on extinguishment of debt                                                                                    |   |                            | (2,431  | )      |                          |   | — |   |   |   | (2,431  | )      |   |   | — |   |
| Interest income                                                                                                   |   |                            | — |   |                          |   | 2       |   |   |   | — |   |   |   | 3 |   |
| Loss before income taxes                                                                                          |   |                            | (3,097  | )      |                          |   | (131    | )      |   |   | (3,333  | )      |   |   | (793 | ) |
|                                                                                                              |   |                            |    |   |                          |   |    |   |   |   |    |   |   |   |   |   |
| Income tax expense                                                                                                |   |                            | (303    | )      |                          |   | (310    | )      |   |   | (615    | )      |   |   | (621 | ) |
| Net income loss                                                                                                   |   | $                               | (3,400  | )      |                          | $      | (441    | )      |   | $      | (3,948  | )      |   | $ | (1,414 | ) |

----

|                                                       |   |  Shares |    |   |  Par Value |    |    | Subscription Receivable |   |    | Contra EquityDue from Affiliate on Debt |   |   | Accumulated Deficit |     |   | TotalShareholder’sDeficit |    |
|------------------------------------------------------------|--------|--------------|---------|--------|-----------------|---------|---------|-------------------------|--------|---------|-----------------------------------------|--------|--------|---------------------|----------|--------|---------------------------------|---------|
| Balance at January 1, 2010 (Note 2)                   |   |         | 1,000   |   |            |  $ | 1       |                    |   |  $ | (1                                      | )      |   |  $             | —  |   |                            |  $ | (104,654 | ) |   |  $ | (104,654 | ) |
| Contra equity due from affiliate on debt issuance (Note 7) |   |         | — |   |            |    | — |                    |   |    | —                                 |   |   |                | (188,351 | )      |                            |    | — |   |   |   | (188,351 | ) |
| Net loss                                                   |   |         | — |   |            |    | — |                    |   |  $ | —                                 |   |   |                | —  |   |                            |    | (3,948 | ) |   |   | (3,948 | ) |
| Balance at June 30, 2010 (Unaudited)                  |   |         | 1,000   |   |            |  $ | 1       |                    |   |    | (1                                      | )      |   |  $             | (188,351 | )      |                            |  $ | (108,602 | ) |   |  $ | (296,953 | ) |

----

|                                                                                                        |   |                          |     |   |   |   |
|-------------------------------------------------------------------------------------------------------------|--------|-------------------------------|----------|--------|--------|--------|
|                                                                                                        |   | Six Months EndedJune 30, |     |
|                                                                                                        |   | 2010                          |     |   | 2009   |   |
|                                                                                                        |   | (Unaudited)                   |     |
| Cash flows from operating activities:                                                                       |   |                          |     |   |   |   |
| Net loss                                                                                                    |   | $                             | (3,948   | )      |   | $      | (1,414 | ) |
| Adjustments to reconcile net loss to net cash provided by operating activities:                             |   |                          |     |   |   |   |   |   |
| Deferred income taxes                                                                                       |   |                          | 575      |   |   |   | 588 |   |
| Depreciation of property and equipment                                                                      |   |                          | 1,463    |   |   |   | 1,893 |   |
| Amortization of intangible assets                                                                           |   |                          | 2,574    |   |   |   | 2,574 |   |
| Amortization of debt financing costs                                                                        |   |                          | 207      |   |   |   | 23 |   |
| Amortization of broadcast rights, excluding barter                                                          |   |                          | 762      |   |   |   | 947 |   |
| Payments for broadcast rights                                                                               |   |                          | (993     | )      |   |   | (936 | ) |
| Loss (gain) on asset exchange                                                                               |   |                          | 11       |   |   |   | (497 | ) |
| Loss on asset disposal, net                                                                                 |   |                          | 18       |   |   |   | 2 |   |
| Loss on extinguishment of debt                                                                              |   |                          | 2,431    |   |   |   | — |   |
| Amortization of debt discount                                                                               |   |                          | 69       |   |   |   | — |   |
| Deferred gain recognition                                                                                   |   |                          | (87      | )      |   |   | (87 | ) |
| Changes in operating assets and liabilities net of acquisition:                                             |   |                          |     |   |   |   |   |   |
| Accounts receivable                                                                                         |   |                          | (171     | )      |   |   | (298 | ) |
| Prepaid expenses and other current assets                                                                   |   |                          | 104      |   |   |   | 174 |   |
| Taxes payable                                                                                               |   |                          | (30      | )      |   |   | (47 | ) |
| Accounts payable and accrued expenses                                                                       |   |                          | (96      | )      |   |   | (1,076 | ) |
| Interest payable                                                                                            |   |                          | 2,350    |   |   |   | (5 | ) |
| Deferred revenue                                                                                            |   |                          | (362     | )      |   |   | (226 | ) |
| Other noncurrent liabilities                                                                                |   |                          | 109      |   |   |   | 178 |   |
| Due to Nexstar Broadcasting, Inc.                                                                           |   |                          | (1,789   | )      |   |   | (512 | ) |
| Net cash provided by operating activities                                                                   |   |                          | 3,197    |   |   |   | 1,281 |   |
| Cash flows from investing activities:                                                                       |   |                          |     |   |   |   |   |   |
| Additions to property and equipment                                                                         |   |                          | (60      | )      |   |   | (1,041 | ) |
| Net cash used for investing activities                                                                      |   |                          | (60      | )      |   |   | (1,041 | ) |
| Cash flows used for financing activities:                                                                   |   |                          |     |   |   |   |   |   |
| Repayment of long-term debt and revolver loan                                                               |   |                          | (133,361 | )      |   |   |  (863 | ) |
| Proceeds from debt issuance                                                                                 |   |                          | 131,906  |   |   |   | — |   |
| Payments for debt extinguishment                                                                            |   |                          | (992     | )      |   |   | — |   |
| Payments for debt finance costs                                                                             |   |                          | (869     | )      |   |   | — |   |
| Net cash used for financing activities                                                                      |   |                          | (3,316   | )      |   |   | (863 | ) |
| Net decrease in cash and cash equivalents                                                                   |   |                          | (179     | )      |   |   | (623 | ) |
| Cash and cash equivalents at beginning of period                                                            |   |                          | 903      |   |   |   | 1,426 |   |
| Cash and cash equivalents at end of period                                                                  |   | $                             | 724      |   |   | $      | 803 |   |
| Supplemental schedule of cash flow information:                                                             |   |                          |     |   |   |   |   |   |
| Cash paid during the period for:                                                                            |   |                          |     |   |   |   |   |   |
| Interest                                                                                                    |   | $                             | 3,123    |   |   | $      | 2,697 |   |
| Income taxes, net                                                                                           |   | $                             | 70       |   |   | $      | 80 |   |
| Non-cash operating activities:                                                                              |   |                          |     |   |   |   |   |   |
| Interest payable by Nexstar Broadcasting Inc. and classified as contra equity (Note 7)                      |   | $                             | 3,320    |   |   | $      | — |   |
| Non-cash investing activities:                                                                              |   |                          |     |   |   |   |   |   |
| Acquisition of equipment in account payable                                                                 |   | $                             | —  |   |   | $      | 16 |   |
| Non-cash financing activities:                                                                              |   |                          |     |   |   |   |   |   |
| Proceeds from debt issuance received by Nexstar Broadcasting, Inc. and classified as contra equity (Note 7) |   | $                             | 184,934  |   |   | $      |   | — |

----

| 1. | Organization and Business Operations |
|----|--------------------------------------|

| 2. | Summary of Significant Accounting Policies |
|----|--------------------------------------------|

----

| 2. | Summary of Significant Accounting Policies—(Continued) |
|----|--------------------------------------------------------------|

| 3. | Fair Value Measurements |
|----|-------------------------|

| 4. | Local Service Agreements with Nexstar |
|----|---------------------------------------|

----

| 4. | Local Service Agreements with Nexstar—(Continued) |
|----|---------------------------------------------------------|

|             |                                         |        |             |       |                                                                              |
|------------------|----------------------------------------------|-------------|------------------|------------|-----------------------------------------------------------------------------------|
| Station          | Market                                       | Affiliation | Type ofAgreement | Expiration | Consideration received from or paid to Nexstar                                    |
| Mission-Owned:   |                                         |        |             |       |
|             |                                         |        |             |       |                                                                              |
| WFXP             | Erie, PA                                     | Fox         | TBA              | 8/16/11    | Monthly payments received from Nexstar(1)                                         |
|             |                                         |        |             |       |                                                                              |
| KJTL and         | Wichita Falls, TX-Lawton, OK                 | Fox         | SSA              | 5/31/19    | $60 thousand per month paid to Nexstar                                            |
| KJBO-LP          |                                         | MyNetworkTV | JSA              | 5/31/19    | 70% of the KJTL/KJBO-LP net revenue collected each month received from Nexstar    |
|             |                                         |        |             |       |                                                                              |
| WYOU             | Wilkes Barre-Scranton, PA                    | CBS         | SSA              | 1/4/18     | $35 thousand per month paid to Nexstar                                            |
|             |                                         |        | JSA              | 9/30/14    | 70% of the WYOU net revenue collected each month received from Nexstar            |
|             |                                         |        |             |       |                                                                              |
| KODE             | Joplin, MO-Pittsburg, KS                     | ABC         | SSA              | 3/31/12    | $75 thousand per month paid to Nexstar                                            |
|             |                                         |        | JSA              | 9/30/14    | 70% of the KODE net revenue collected each month received from Nexstar            |
|             |                                         |        |             |       |                                                                              |
| KRBC             | Abilene-Sweetwater, TX                       | NBC         | SSA              | 6/12/13    | $25 thousand per month paid to Nexstar                                            |
|             |                                         |        | JSA              | 6/30/14    | 70% of the KRBC net revenue collected each month received from Nexstar            |
|             |                                         |        |             |       |                                                                              |
| KSAN             | San Angelo, TX                               | NBC         | SSA              | 5/31/14    | $10 thousand per month paid to Nexstar                                            |
|             |                                         |        | JSA              | 5/31/14    | 70% of the KSAN net revenue collected each month received from Nexstar            |
|             |                                         |        |             |       |                                                                              |
| WFXW             | Terre Haute, IN                              | Fox         | SSA              | 5/8/13     | $10 thousand per month paid to Nexstar                                            |
|             |                                         |        | JSA              | 5/8/13     | 70% of the WFXW net revenue collected each month received from Nexstar            |
|             |                                         |        |             |       |                                                                              |
| KCIT and KCPN-LP | Amarillo, TX                                 | Fox         | SSA              | 4/30/19    | $50 thousand per month paid to Nexstar                                            |
| KCPN-LP          |                                         | MyNetworkTV | JSA              | 4/30/19    | 70% of the KCIT/KCPN-LP net revenue collected each month received from Nexstar    |
|             |                                         |        |             |       |                                                                              |
| KHMT             | Billings, MT                                 | Fox         | TBA              | 12/13/17   | Monthly payments received from Nexstar(1)                                         |
|             |                                         |        |             |       |                                                                              |
| KAMC             | Lubbock, TX                                  | ABC         | SSA              | 2/15/19    | $75 thousand per month paid to Nexstar                                            |
|             |                                         |        | JSA              | 2/15/19    | 70% of the KAMC net revenue collected each month received from Nexstar            |
|             |                                         |        |             |       |                                                                              |
| KOLR             | Springfield, MO                              | CBS         | SSA              | 2/15/19    | $150 thousand per month paid to Nexstar                                           |
|             |                                         |        | JSA              | 2/15/19    | 70% of the KOLR net revenue collected each month received from Nexstar            |
|             |                                         |        |             |       |                                                                              |
| WUTR             | Utica, NY                                    | ABC         | SSA              | 3/31/14    | $10 thousand per month paid to Nexstar                                            |
|             |                                         |        | JSA              | 3/31/14    | 70% of the WUTR net revenue collected each month received from Nexstar            |
|             |                                         |        |             |       |                                                                              |
| WTVO             | Rockford, IL                                 | ABC         | SSA              | 10/31/14   | $75 thousand per month paid to Nexstar                                            |
|             |                                         |        | JSA              | 10/31/14   | 70% of the WTVO net revenue collected each month received from Nexstar            |
|             |                                         |        |             |       |                                                                              |
| KTVE             | Monroe, LA – El Dorado, AR             | NBC         | SSA              | 1/16/18    | $20 thousand per month paid to Nexstar                                            |
|             |                                         |        | JSA              | 1/16/18    | 70% of the KTVE net revenue collected each month received from Nexstar            |
| Nexstar-owned:   |                                         |        |             |       |
|             |                                         |        |             |       |                                                                              |
| KFTA             | Ft. Smith-Fayetteville-Springdale-Rogers, AR | Fox/NBC     | TBA              | (2)        | $5 thousand per month paid to Nexstar$20 thousand per month received from Nexstar |

| (1) | Payments are variable based on station’s monthly operating expenses. |
|-----|----------------------------------------------------------------------------|

| (2) | TBA was terminated on May 1st, 2010. |
|-----|--------------------------------------|

----

| 4. | Local Service Agreements with Nexstar—(Continued) |
|----|---------------------------------------------------------|

| 5. | Transaction with Nexstar |
|----|--------------------------|

| 6. | Intangible Assets and Goodwill |
|----|--------------------------------|

|                                            |   |                        |   |   |                    |   |   |                   |   |   |    |   |   |                    |   |   |                |   |   |   |   |
|-------------------------------------------------|--------|-----------------------------|--------|--------|-------------------------|--------|--------|------------------------|--------|--------|---------|--------|--------|-------------------------|--------|--------|---------------------|--------|--------|--------|--------|
|                                            |   | Estimateduseful life(years) |   |   | June 30, 2010           |   |   | December 31, 2009 |   |
|                                            |   | Gross                       |   |   | AccumulatedAmortization |   |   | Net                    |   |   | Gross   |   |   | AccumulatedAmortization |   |   | Net                 |   |
|                                            |   |                        |   |   |                    |   |   | (in thousands)    |   |   |    |   |   |                    |   |   | (in thousands) |   |   |   |   |
| Network affiliation agreements                  |   |                        | 15     |   |                    | $      | 66,443 |                   |   | $      | (46,482 | )      |   | $                       | 19,961 |   |                | $      | 66,443 |   |   | $ | (44,348 | ) |   | $ | 22,095 |   |
| Other definite-lived intangible assets          |   |                        | 1-15   |   |                    |   | 13,117 |                   |   |   | (10,136 | )      |   |                    | 2,981  |   |                |   | 13,117 |   |   |   | (9,695 | ) |   |   | 3,422 |   |
| Total intangible assets subject to amortization |   |                        |   |   |                    | $      | 79,560 |                   |   | $      | (56,618 | )      |   | $                       | 22,942 |   |                | $      | 79,560 |   |   | $ | (54,043 | ) |   | $ | 25,517 |   |

----

| 6. | Intangible Assets and Goodwill—(Continued) |
|----|--------------------------------------------------|

|                          |   | 2010   |   |   | 2009   |   |
|-------------------------------|--------|--------|--------|--------|--------|--------|
| Goodwill                      |   | $      | 20,279 |   |   | $      | 19,924 |   |
| Accumulated impairment losses |   |   | (1,550 | )      |   |   | (1,289 | ) |
| Balance as of January 1       |   | $      | 18,729 |   |   | $      | 18,635 |   |

| Impairment                |   |   | — |   |   |   | (261 | )      |
|---------------------------|--------|--------|---------|--------|--------|--------|------|--------|
| Reclassification of asset |   |   | — |   |   |   | 355  |   |

| Goodwill                                                        |   | $      | 20,279 |   |   | $      | 20,279 |   |
|-----------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|
| Accumulated impairment losses                                   |   |   | (1,550 | )      |   |   | (1,550 | )      |
| Balance as of June 30, 2010 and December 31, 2009, respectively |   | $      | 18,729 |   |   | $      | 18,729 |   |

|                          |   | 2010   |    |   | 2009   |   |
|-------------------------------|--------|--------|---------|--------|--------|--------|
| FCC licenses                  |   | $      | 31,395  |   |   | $      | 31,395 |   |
| Accumulated impairment losses |   |   | (10,697 | )      |   |   | (8,700 | ) |
| Balance as of January 1       |   | $      | 20,698  |   |   | $      | 22,695 |   |

| Impairment |   |   | — |   |   |   | (1,997 | ) |
|------------|--------|--------|---------|--------|--------|--------|--------|---|

| FCC licenses                                                    |   | $      | 31,395  |   |   | $      | 31,395  |   |
|-----------------------------------------------------------------|--------|--------|---------|--------|--------|--------|---------|--------|
| Accumulated impairment losses                                   |   |   | (10,697 | )      |   |   | (10,697 | )      |
| Balance as of June 30, 2010 and December 31, 2009, respectively |   | $      | 20,698  |   |   | $      | 20,698  |   |

| 7. | Debt |
|----|------|

|                                                                                 |   |           |    |   |                  |   |
|--------------------------------------------------------------------------------------|--------|----------------|---------|--------|-----------------------|--------|
|                                                                                 |   | June 30,20109  |    |   | December 31,2009 |   |
|                                                                                 |   | (in thousands) |    |
| Term loans                                                                           |   | $              | 39,000  |   |                  | $      | 165,360 |   |
| Revolving credit facility                                                            |   |           | — |   |                  |   | 7,000 |   |
| 8.875% senior secured second lien notes due 2017, net of discount of $7,996(1)       |   |           | 317,004 |   |                  |   | — |   |
|                                                                                 |   |           | 356,004 |   |                  |   | 172,360 |   |
| Less: current portion                                                                |   |           | (390)   |   |                  |   | (1,727 | ) |
|                |   | $              | 355,614 |   |                  | $      | 170,633 |   |

| (1) | As co-issuers Mission received $131.9 million of the net proceeds and $184.9 million was received by Nexstar Broadcasting as further described below. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 7. | Debt—(Continued) |
|----|------------------------|

----

| 7. | Debt—(Continued) |
|----|------------------------|

----

| 7. | Debt—(Continued) |
|----|------------------------|

----

| 7. | Debt—(Continued) |
|----|------------------------|

|                                        |   | June 30, 2010 |    |   | December 31, 2009 |   |
|---------------------------------------------|--------|-------------------------|---------|--------|------------------------|--------|
|                                        |   | CarryingAmount          |    |   | Fair Value             |   |   | CarryingAmount |   |   | FairValue |   |
|                                        |   | (in thousands)          |    |
| Term loans(1)                               |   | $                       | 39,000  |   |                   | $      | 38,390 |   |   | $ | 165,360 |   |   | $ | 154,850 |   |
| Revolving credit facilities(1)              |   | $                       | — |   |                   | $      | — |   |   | $ | 7,000 |   |   | $ | 6,624 |   |
| 8.875% senior secured second lien notes (2) |   | $                       | 317,004 |   |                   | $      | 318,589 |   |   | $ | — |   |   | $ | — |   |

| (1) | The fair value of senior secured credit facilities is computed based on borrowing rates currently available to Mission for bank loans with similar terms and average maturities. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The fair value of Mission’s fixed rate debt is estimated based on bid prices obtained from an investment banking firm that regularly makes a market for these financial instruments. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8. | Income Taxes |
|----|--------------|

| 9. | FCC Regulatory Matters |
|----|------------------------|

----

| 10. | Commitments and Contingencies |
|-----|-------------------------------|

----

|                    |                                                                                        |
|-------------------------|---------------------------------------------------------------------------------------------|
| Service Agreements | Stations                                                                                    |
| TBA Only(1)             | WFXP and KHMT                                                                               |
|                    |                                                                                        |
| SSA & JSA(2)   | KJTL, KJBO-LP, KOLR, KCIT, KCPN-LP, KAMC, KRBC, KSAN, WUTR, WFXW, WYOU, KODE, WTVO and KTVE |

|                |   |
|--------------------------------------------------------------------------------------|--------|

| (1) | We have a time brokerage agreement (“TBA”) for each of these stations which allows Nexstar to program most of each station’s broadcast time, sell each station’s advertising time and retain the advertising revenue generated in exchange for monthly payments to us. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | We have both a shared services agreement (“SSA”) and a joint sales agreement (“JSA”) for each of these stations. The SSA allows the Nexstar station in the market to provide certain services including news production, technical maintenance and security, in exchange for Nexstar’s right to receive certain payments from us as described in the SSAs. The JSA permits Nexstar to sell and retain a percentage of the net revenue from the station’s advertising time in return for monthly payments to us of the remaining percentage of the net revenue, as described in the JSAs. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                    |   | Three Months Ended June 30,   |   |   | Six Months Ended June 30,     |   |
|-----------------------------------------|--------|------------------------------------|--------|--------|------------------------------------|--------|
|                                    |   | 2010                               |   |   | 2009                               |   |   | 2010 |   |   | 2009 |   |
|                                    |   | Amount                             |   |   | %                                  |   |   | Amount |   |   | % |   |   | Amount |   |   | % |   |   | Amount |   |   | % |   |
|                                    |   | (in thousands, except percentages) |   |   | (in thousands, except percentages) |   |
| Retransmission compensation             |   | $                                  | 1,583  |   |                               |   | 85.8 |   |   | $ | 1,210 |   |   |   | 82.4 |   |   | $ | 2,988 |   |   |   | 85.1 |   |   | $ | 2,385 |   |   |   | 81.7 |   |
| Network compensation                    |   |                               | 238    |   |                               |   | 12.9 |   |   |   | 243 |   |   |   | 16.5 |   |   |   | 471 |   |   |   | 13.4 |   |   |   | 499 |   |   |   | 17.1 |   |
| Other                                   |   |                               | 24     |   |                               |   | 1.3 |   |   |   | 16 |   |   |   | 1.1 |   |   |   | 53 |   |   |   | 1.5 |   |   |   | 35 |   |   |   | 1.2 |   |
| Net broadcast revenue before barter     |   |                               | 1,845  |   |                               |   | 100.0 |   |   |   | 1,469 |   |   |   | 100.0 |   |   |   | 3,512 |   |   |   | 100.0 |   |   |   | 2,919 |   |   |   | 100.0 |   |
|                                    |   |                               |   |   |                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Barter revenue                          |   |                               | 519    |   |                               |   |   |   |   |   | 596 |   |   |   |   |   |   |   | 1,081 |   |   |   |   |   |   |   | 1,255 |   |   |   |   |   |
| Revenue from Nexstar Broadcasting, Inc. |   |                               | 7,005  |   |                               |   |   |   |   |   | 6,140 |   |   |   |   |   |   |   | 13,745 |   |   |   |   |   |   |   | 12,228 |   |   |   |   |   |
| Net revenue                             |   | $                                  | 9,369  |   |                               |   |   |   |   | $ | 8,205 |   |   |   |   |   |   | $ | 18,338 |   |   |   |   |   |   | $ | 16,402 |   |   |   |   |   |

|                                                                               |   | Three Months Ended June 30,   |    |   | Six Months Ended June 30,     |   |
|------------------------------------------------------------------------------------|--------|------------------------------------|---------|--------|------------------------------------|--------|
|                                                                               |   | 2010                               |    |   | 2009                               |   |   | 2010 |   |   | 2009 |   |
|                                                                               |   | Amount                             |    |   | %                                  |   |   | Amount |   |   | % |   |   | Amount |   |   | % |   |   | Amount |   |   | % |   |
|                                                                               |   | (in thousands, except percentages) |    |   | (in thousands, except percentages) |   |
| Net revenue                                                                        |   | $                                  | 9,369   |   |                               |   | 100.0 |   |   | $ | 8,205 |   |   |   | 100.0 |   |   | $ | 18,338 |   |   |   | 100.0 |   |   | $ | 16,402 |   |   |   | 100.0 |   |
| Operating expenses:                                                                |   |                               |    |   |                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Corporate expenses                                                                 |   |                               | 205     |   |                               |   | 2.2 |   |   |   | 223 |   |   |   | 2.7 |   |   |   | 466 |   |   |   | 2.5 |   |   |   | 552 |   |   |   | 3.4 |   |
| Station direct operating expenses, net of trade                                    |   |                               | 1,482   |   |                               |   | 15.8 |   |   |   | 1,515 |   |   |   | 18.5 |   |   |   | 2,928 |   |   |   | 16.0 |   |   |   | 3,141 |   |   |   | 19.2 |   |
| Selling, general and administrative expenses                                       |   |                               | 323     |   |                               |   | 3.4 |   |   |   | 374 |   |   |   | 4.6 |   |   |   | 665 |   |   |   | 3.6 |   |   |   | 790 |   |   |   | 4.8 |   |
| Fees incurred pursuant to local service agreements with Nexstar Broadcasting, Inc. |   |                               | 1,790   |   |                               |   | 19.1 |   |   |   | 1,800 |   |   |   | 21.9 |   |   |   | 3,590 |   |   |   | 19.6 |   |   |   | 3,825 |   |   |   | 23.3 |   |
| Gain on asset exchange                                                             |   |                               | — |   |                               |   | — |   |   |   | (249 | ) |   |   | (3.0 | ) |   |   | 11 |   |   |   | 0.1 |   |   |   | (497 | ) |   |   | (3.0 | ) |
| (Gain) loss on asset disposal, net                                                 |   |                               | (3      | )      |                               |   | — |   |   |   | (1 | ) |   |   | — |   |   |   | 18 |   |   |   | 0.1 |   |   |   | 2 |   |   |   | — |   |
| Barter expense                                                                     |   |                               | 519     |   |                               |   | 5.5 |   |   |   | 596 |   |   |   | 7.3 |   |   |   | 1,081 |   |   |   | 5.9 |   |   |   | 1,255 |   |   |   | 7.7 |   |
| Depreciation and amortization                                                      |   |                               | 2,020   |   |                               |   | 21.6 |   |   |   | 2,326 |   |   |   | 28.3 |   |   |   | 4,037 |   |   |   | 22.0 |   |   |   | 4,467 |   |   |   | 27.2 |   |
| Amortization of broadcast rights, excluding barter                                 |   |                               | 350     |   |                               |   | 3.7 |   |   |   | 444 |   |   |   | 5.4 |   |   |   | 762 |   |   |   | 4.2 |   |   |   | 947 |   |   |   | 5.8 |   |
| Income from operations                                                             |   | $                                  | 2,683   |   |                               |   |   |   |   | $ | 1,177 |   |   |   |   |   |   | $ | 4,781 |   |   |   |   |   |   | $ | 1,920 |   |   |   |   |   |

----

----

----

|                                               |   |                          |    |   |                  |   |
|----------------------------------------------------|--------|-------------------------------|---------|--------|-----------------------|--------|
|                                               |   | Six Months EndedJune 30, |    |
|                                               |   | 2010                          |    |   | 2009                  |   |
|                                               |   | (in thousands)                |    |
| Net cash provided by operating activities          |   | $                             | 3,197   |   |                  | $      | 1,281 |   |
| Net cash used for investing activities             |   |                          | (60     | )      |                  |   | (1,041 | ) |
| Net cash used for financing activities             |   |                          | (3,316  | )      |                  |   | (863 | ) |
| Net decrease in cash and cash equivalents          |   | $                             | (179    | )      |                  | $      | (623 | ) |
|                                               |   |                          |    |   |                  |   |   |   |
|                                               |   | June 30,2010             |    |   | December 31,2009 |   |
|                                               |   | (in thousands)                |    |
| Cash and cash equivalents                          |   | $                             | 724     |   |                  | $      | 903 |   |
| Long-term debt including current portion           |   | $                             | 356,004 |   |                  | $      | 172,360 |   |
| Unused commitments under senior credit facility(1) |   | $                             | 10,000  |   |                  | $      | 8,000 |   |

|                |   |
|--------------------------------------------------------------------------------------|--------|

|  (1) | As of June 30, 2010, $10 million of total unused commitments under Mission’s credit facility were available for borrowing. |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                |   |   |    |   |             |   |    |   |      |   |    |   |      |   |    |
|-----------------------------------------------------|--------|--------|---------|--------|------------------|--------|---------|--------|-----------|--------|---------|--------|-----------|--------|---------|
|                                                |   | Total  |    |   | Remainderof 2010 |   |    |   | 2011-2012 |   |    |   | 2013-2014 |   |    | Thereafter |   |
|                                                |   |   |    |   | (in thousands)   |   |    |   |      |
| Senior credit facility                              |   | $      | 39,000  |   |             | $      | 195     |   |      | $      | 780     |   |      | $      | 780     |   |   |   | 37,245 |   |
| 8.875% senior secured second lien notes due 2017(1) |   |   | 325,000 |   |             |   | — |   |      |   | — |   |      |   | — |   |   |   | 325,000 |   |
|                                                |   | $      | 364,000 |   |             | $      | 195     |   |      | $      | 780     |   |      | $      | 780     |   |   | $ | 362,245 |   |

|                |   |
|--------------------------------------------------------------------------------------|--------|

| (1) | As co-issuers Mission received $131.9 million of the net proceeds and $184.9 million was received by Nexstar Broadcasting as further discussed in Note 7.  Debt repayment will be split based on the same ratio as the proceeds were received. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| ITEM 3. | Quantitative and Qualitative Disclosures About Market Risk |
|--------------|------------------------------------------------------------|

|                   |   |                             |   |   |                             |   |   |        |   |   |         |   |
|------------------------|--------|----------------------------------|--------|--------|----------------------------------|--------|--------|-------------|--------|--------|--------------|--------|
|                   |   | Interest rate decrease |   |   | Interest rate increase |   |
|                   |   | 100 BPS                     |   |   | 50 BPS                      |   |   | 50 BPS |   |   | 100 BPS |   |
|                   |   | (in thousands)                   |   |   | (in thousands)                   |   |
| Senior credit facility |   | $                                | 390    |   |                             | $      | 195    |        |   | $      | (195         | )      |   | $ | (390 | ) |

| ITEM 4. | Controls and Procedures |
|--------------|-------------------------|

----

----

| Exhibit No. | Exhibit Index                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1.1              | Purchase Agreement, by and among Nexstar Broadcasting, Inc, Nexstar Broadcasting Group, Inc., Mission Broadcasting, Inc. and Banc of America Securities LLC, UBS Securities LLC, Deutsche Bank Securities Inc., and RBC Capital Markets Corporation, each for itself and acting on behalf of the several initial purchasers, dated April 8, 2010. (Incorporated by reference to the exhibit of the same number to Current Report on Form 8-K (File No. 333-62916-02) filed by Mission Broadcasting, Inc. on April 12, 2010.)                                                                                                                                     |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4.1              | Indenture, dated as of April 19, 2010, by and among Nexstar Broadcasting, Inc. and Mission Broadcasting Inc., as Issuers, Nexstar Broadcasting Group, Inc., as Guarantor, and The Bank of New York Mellon, as Trustee, and The Bank of New York Mellon, as Collateral Agent. (Incorporated by reference to the exhibit of the same number to Current Report on Form 8-K (File No. 333-62916-02) filed by Mission Broadcasting, Inc. on April 23, 2010.)                                                                                                                                                                                                          |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 4.2              | Form of Senior Secured Second Lien Note. (Incorporated by reference to the exhibit of the same number to Current Report on Form 8-K (File No. 333-62916-02) filed by Mission Broadcasting, Inc. on April 23, 2010.)                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.1             | Registration Rights Agreement, dated April 19, 2010, by and among Nexstar Broadcasting, Inc., Mission Broadcasting, Inc., Nexstar Broadcasting Group, Inc., as guarantor, Banc of America Securities LLC, UBS Securities LLC, Deutsche Bank Securities Inc. and RBC Capital Markets Corporation. (Incorporated by reference to the exhibit of the same number to Current Report on Form 8-K (File No. 333-62916-02) filed by Mission Broadcasting, Inc. on April 23, 2010.)                                                                                                                                                                                      |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.2             | Third Amendment to the Fourth Amended and Restated Credit Agreement, dated as of April 19, 2010, among Nexstar Broadcasting, Inc., Nexstar Broadcasting Group, Inc., the several financial institutions from time to time parties thereto, Bank of America, N.A., as administrative agent and syndication agent, and Banc of America Securities LLC, UBS Securities LLC, and Deutsche Bank Securities Inc., as joint lead arrangers, joint book managers and co-documentation agents. (Incorporated by reference to the exhibit of the same number to Current Report on Form 8-K (File No. 333-62916-02) filed by Mission Broadcasting, Inc. on April 23, 2010.) |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 10.3             | Second Amendment to the Third Amended and Restated Credit Agreement, dated as of April 19, 2010, among Mission Broadcasting, Inc., the several financial institutions from time to time parties thereto, Bank of America, N.A., as administrative agent and syndication agent, and Banc of America Securities LLC, UBS Securities LLC, and Deutsche Bank Securities Inc., as joint lead arrangers, joint book managers and co-documentation agents. (Incorporated by reference to the exhibit of the same number to Current Report on Form 8-K (File No. 333-62916-02) filed by Mission Broadcasting, Inc. on April 23, 2010.)                                        |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 31.1             | Certification of David S. Smith pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|             |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| 32.1             | Certification of David S. Smith pursuant to 18 U.S.C. ss. 1350.*                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |

| * | Filed herewith |
|---|----------------|

----

|   | MISSION BROADCASTING, INC.                                                   |
|--------|------------------------------------------------------------------------------|
|   |                                                                         |   |
|   | /s/ DAVID S. SMITH                                                      |   |
|   | By:                                                                          | David S. Smith |
|   | Its:                                                                         | President and Treasurer |
|   | (Principal Executive Officer and Principal Financial and Accounting Officer) |   |

----