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EXHIBIT 10.18

# **CONFIDENTIAL TREATMENT FOR
 PORTIONS OF THIS EXHIBIT HAS BEEN REQUESTED**

# the CWTELEVISION NETWORK

March 9, 2006

Mr.
          Peter K. Schruth CBS Corporation 51 West 52nd Street Seventh Floor New York, New
          York 10019

Dear Peter:

We are making the following offer to
affiliate with The CW Network on the terms and conditions contained herein
(Offer):

| | 1. | DMA/Call
Letters:  Albuquerque-Santa Fe, NM / KWBQ Albuquerque-Santa                Fe, NM /
KRWB Champaign-Springfield-Decatur, IL / WBUI Dayton, OH / WBDT Ft. Myers-Naples, FL /
WTVK Green Bay -Appleton,WI / WIWB Knoxville, TN                / WBXX-TV Madison, WI /
WBUW (Collectively, the Stations)
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 2. | Lexington:  The
CW currently intends to grant an affiliation for the                Lexington, TN., DMA
to Gray Broadcasting only for broadcast on a digital                station. If within
the next two years, either Gray or ACME is granted a license                to construct
a full-power broadcast facility in the Lexington DMA, that licensee                will
be granted the CW affiliation for that market.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 3. | Term:  5
years commencing at the start of The CWs 2006/2007 broadcast season. ACME (but not
any assignee or transferee of the affiliation) will have the right, in its discretion, to
extend the Term for each Station collectively for 5 additional years, exercisable no
later than the start of The CWs 2010/2011 broadcast season.
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 4. | Programming
for specified Non-Network time periods: Monday-Friday programming broadcast
between 5pm and the commencement of prime time will be generally compatible with the
network.
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 5. | Promotion/MarketingRequirements
| | -- | -------------------------------

| | a)  Each
affiliated station will use:
| | -------------------------------------

|(i) | network supplied graphics package during all network & non-network
          day-parts, and
|--- | -------------------------------------------------------------------------------------------

|(ii) | local network station logo bug during all local day-parts.
|---- | ----------------------------------------------------------

| | b)  Each
Station logo will be based on the network logo localized by the Station and
          subject to mutual approval, such approval not to be unreasonably withheld.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | c)  Commencing
7 weeks prior to launch and thru the end of the Term, between           6am-2am, Stations
will endeavor to broadcast at least one (1) promotional spot           promoting CW
series programming each hour (excluding time periods with CW           programming and
station licensed childrens programming). If The CW makes           available to
Stations the opportunity to use a lower third pop-up banner in CW           prime time
programming promoting Stations syndicated product or local           newscast, then
at least once every half hour during access Stations will use           lower third
pop-up banners promoting a specific CW primetime series. The           creative execution
of the promotional spots and the banners shall be subject to           the approval of
The CW and the duration of the banners will be the same for The           CW and for the
Stations.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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| | d)  Launch
Promotion: Subject to payment by CW to Stations in the amount of 50% of Stations expenditures,
 the Stations will expend at least $700,000 in the aggregate, for all of the Stations, in
out-of-pocket third party off air media and related re-branding costs (from 7 weeks prior
to launch thru the end of October 2006) to launch The CW.  All such promotion will
contain a specific reference to CW series including day and time (if appropriate to the
medium). The proposed allocation of this launch promotion consideration, by station
follows (amounts represent 100% gross costs, to be split 50/50% between the stations and
The CW).
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Albuquerque-Santa Fe, NM / KWBQ & KRWB   |  |  | $ | 110,000 | 
|---------------------------------------- |  |  | - | ------- | 
|Champaign-Springfield-Decatur, IL / WBUI |  |  |   | 70,000  | 
|Dayton, OH / WBDT                        |  |  |   | 130,000 | 
|Ft. Myers-Naples, FL / WTVK              |  |  |   | 80,000  | 
|Green Bay -Appleton, WI / WIWB           |  |  |   | 110,000 | 
|Knoxville, TN / WBXX-TV                  |  |  |   | 130,000 | 
|Madison, WI / WBUW                       |  |  |   | 70,000  | 
|Total                                    |  |  | $ | 700,000 | 

| | e)  Co-op:
The CW will commit to granting advertising matching co-op to the Stations, exclusive of
any co-op in connection with the network launch, in the aggregate amount of up to
$500,000 (CWs share) per season, provided that the Stations commit to matching such
co-op dollar-for-dollar. (For clarity: The CW is committed to spending up to $500,000 if
the Stations, in the aggregate, spend that amount.) The allocation of this annual amount,
by station, shall be determined and included in each stations affiliation
agreement. The co-op commitment by The CW shall be subject to its co-op guidelines and
all amounts expended by Stations shall be subject to audit.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | f)  Stations websites
will contain prominent CW branding elements &          presence.
| | ---------------------------------------------------------------------------------------

| | 6. | Clearance Full, in-pattern clearance of all programs on The CW Television
               Network program schedule (or such programs replacements or
successors)                without time compression, squeezing, or alteration in CW
signal (except for the pop-up banners referenced earlier), in the following dayparts:
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Primetime: | Monday-Friday
8-10 pm ET/PT 7-9 CT Sunday 7-10 pm ET/PT 6-9 CT
| | ---------- | --------------------------------------------------------------

| | Daytime: | Monday-Friday
3-5 pm (local time)
| | -------- | ---------------------------------

| | Weekend: | Saturday
Kids 7am-12pm (local time)
| | -------- | -----------------------------------

| | Sunday | non-prime:
5-7pm ET/PT 4-1- CT
| | ------ | ------------------------------

| | The
CW agrees that within this program block, it will provide a maximum of 1 hour of
FCC-qualifying educational/informational childrens programming each week.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Stations
reserve the right to refuse to broadcast any commercial or promotional announcement that
promotes or advertises programming telecast by a network (including a cable or satellite
network) other than The CW (Other Network), unless the announcement (A) does
not specify the broadcast time or date of the Other Networks program (the
announcement may specify the day of the week of the broadcast), and (B) the program
series promoted in the announcement is not under license to Station.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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| | 7. | Pre-Emptions: See
Each Station shall be allowed to pre-empt The CW programming up to 15 hours per season
for programming of local interest.Any CW pre-empted programming will be broadcast in a
time period upon which you and we shall mutually agree and which shall be of a quality
and rating value comparable to that of the scheduled program times.
| | -- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 8. | Local
Commercial Inventory:
| | -- | ---------------------------

| | Prime Time:                         | 3 minutes per hour
| | ----------------------------------- | ------------------
| |                                     |                   
| | M-F
3:00pm  5:00pm
Programming:    | 4 minutes per hour
| |                                     |                   
| | Weekend
Programming:
Saturday Kids: | 1 minute per hour 
| |                                     |                   
| | Sunday 5:00pm - 7:00pm:             | 4 minutes per hour

| | 9. | Future
Time Periods:  Subject to mutual prior written agreement between the Stations and The
CW, The CW may expand its programming into the following time periods:
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Early Morning: | Monday-Friday | 7-9am local time        
|-------------- | ------------- | ------------------------
|Primetime:     | Saturday      | 8-10pm ET/PT 7-9p CT    
|               |               |                         
|Late Night:    | Monday-Friday | 11-12pm ET/PT 10-11pm CT

| | Expansion
into these expanded time periods shall be subject to any pre-existing third party
contractual time period commitments for programming by station
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------

| | 10. | Expanded
Time Periods:
| | --- | ----------------------

|Monday-Friday Early Morning: | Six (6) minutes per hour,  
|---------------------------- | ---------------------------
|Saturday Primetime:          | Three (3) minutes per hour,
|Monday-Friday Late Night:    | Six (6) minutes per hour,  

| | 11. | Distribution
Rights:  Free Over-the-Air Television Broadcast Rights (Analog & Digital) in the
DMA
| | --- | -------------------------------------------------------------------------------------------------

| | 12. | Distribution
Exclusivity:  Free Over-the-Air Television Broadcast Rights in Community of License
and outside the Community of License in the DMA to the extent permitted by FCC rules and
regulations.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 13. | Cable
& Satellite Retransmission:  Standard retransmission rights provided at least 90%
penetration at the time of launch.
| | --- | --------------------------------------------------------------------------------------------------------------------------

| | 14. | Ancillary
Revenues:  The CW will form an Affiliate Board, which will consider in good faith the
issue of affiliate participation in                            ancillary program
activities.
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



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| | 15. | Network
Non-Duplication Protection: Standard - Per FCC Rules.  Furthermore The CW
will not license network carriage to any other broadcast
                                            signal within the Stations' DMAs.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 16. | Digital
Spectrum:  Network and Stations acknowledge that Stations expect to           cease
analog broadcasts during the term of the Affiliation Agreement pursuant to           a
national transition to digital broadcasting, and that thereafter Stations will
          broadcast only a digital signal. All rights and obligations of Stations and
          Network under the Affiliation Agreement (including, without limitation, program
          carriage, promotion, and commercial announcements) will apply to Stations          digital
signal and to its analog signal for as long as Stations continues analog
          broadcasts. Stations will be obligated to broadcast in the HDTV format on
          Stations digital signal all Network Programming and advertiser and
          program-related material provided to Stations in the HDTV format. Stations are
          not obligated to provide Network with more than one digital channel in the DMA,
          provided that Stations will negotiate in good faith concerning any CW proposal
          for multiplexing, if any.
| | --- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 17. | Assignment:  No
assignment without prior written consent from The CW which           will not be
unreasonably withheld taking into account the business interests of           The CW and
that the assignee agrees to an assumption of all obligations.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 18. | Confidentiality: The terms of this document, the Affiliation Agreement, and           discussions
related thereto, will not be disclosed to anyone who is not either           employed by
the Stations or the corporate ownership of the Stations, provided           that such
employee agrees to preserve the confidentiality. Notwithstanding the           foregoing,
adherence to FCC filing requirements and other laws or regulations           will not
constitute a violation of this point; provided that Stations uses its           best
effort to protect the confidentiality of the material terms herein and           disclose
only those terms which are mandated by such law or regulation. Any           press
release regarding the trams of this negotiation or Agreement shall be
          pre-approved by The CW. The parties participation in negotiations related
hereto shall constitute their agreement to comply with this Confidentiality provision.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 19. | Programming
Fees:  See Exhibit A.
| | --- | ---------------------------------

This Offer is subject to the approval
of ACMEs board of directors. Other terms and conditions will be contained in a
definitive Affiliation Agreement not inconsistent with the terms of this Offer proposed
and negotiated in good faith between the parties.

The parties acknowledge & agree
that this letter agreement and any other agreements related hereto are subject to and
conditioned upon regulatory approval of the formation of The CW Network and that formation
of The CW is a condition precedent to this Agreement.

Exhibit A is incorporated by
reference herein.

Sincerely,

/s/Thomas D. Allen

Thomas D. Allen Executive
Vice President / CFOACME Television, LLC 2101 E. Fourth
St., Suite 202A  Santa Ana, CA 92705714-245-9499

AGREED AND ACCEPTED:

/s/Peter SchruthPeter SchruthCBS Corporation

/s/ John MaattaJohn MaattaWarner Bros. Entertainment, Inc.