Document:

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                                                                   Exhibit 10.45

                                OPTION AGREEMENT

                                      AMONG

                           BASTET BROADCASTING, INC.,

                                  DAVID SMITH,

                                       and

                             NEXSTAR BROADCASTING OF

                         NORTHEASTERN PENNSYLVANIA, L.P.

                                   DATED AS OF

                                  May 19, 1998

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                                TABLE OF CONTENTS
                                -----------------

ARTICLE I

     GRANT OF OPTIONS;
     GENERAL TERMS OF SALE....................................................2
     1.1  Asset Option Grant; Assets Covered..................................2
          (a)  FCC Authorizations.............................................2
          (b)  Tangible Personal Property.....................................2
          (c)  Real Property..................................................2
          (d)  Agreements for Sale of Time....................................2
          (e)  Program Contracts..............................................3
          (f)  Other Contracts................................................3
          (g)  Trademarks, etc................................................3
          (h)  Programming Copyrights.........................................3
          (i)  FCC Records....................................................3
          (j)  Files and Records..............................................3
          (k)  Goodwill.......................................................3
          (l)  Prepaid Items..................................................3
          (m)  Cash...........................................................3
          (n)  Receivables and Other Claims...................................3
     1.2  Excluded Assets.....................................................4
          (a)  Insurance......................................................4
          (b)  Name...........................................................4
          (c)  Certain Contracts..............................................4
          (d)  Corporate Books and Records....................................4
          (e)  Transaction Documents..........................................4
     1.3  Stock Option Grant..................................................4
     1.4  Option Exercise.....................................................5
     1.5  Liabilities.........................................................5
          (a)  Permitted Encumbrances.........................................5
          (b)  Assumption of Liabilities Generally upon Asset Sale............5

ARTICLE II

     CLOSING..................................................................6
     2.1  Exercise Price......................................................6
               (a)  Payment...................................................6
               (b)  Definition of Cash Purchase Price.........................6
               (c)  Determination of Cash Purchase Price......................6
               (d)  Allocation of Cash Purchase Price after Asset Sale........6
     2.2  The Closing.........................................................6
     2.3  Deliveries at Closing...............................................7

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                    (a) Deliveries by Seller..................................7
                    (b) Deliveries by Buyer...................................7

ARTICLE III

     REPRESENTATIONS AND WARRANTIES OF BASTET.................................8
     3.1  Incorporation; Power................................................8
     3.2  Corporate Action....................................................8
     3.3  No Defaults.........................................................9
     3.4  Brokers.............................................................9

ARTICLE IV

     REPRESENTATIONS AND WARRANTIES OF STOCKHOLDER ...........................9
     4.1  Capacity............................................................9
     4.2  Action..............................................................9
     4.3  No Defaults.........................................................9
     4.4  Brokers............................................................10

ARTICLE V

     REPRESENTATIONS AND WARRANTIES OF BUYER.................................10
     5.1  Incorporation......................................................10
     5.2  Action.............................................................10
     5.3  No Defaults........................................................10
     5.4  Brokers............................................................10

ARTICLE VI

     COVENANTS OF BASTET AND STOCKHOLDER.....................................11
     6.1  Covenants of Bastet and Stockholder Generally......................11
          (a)  FCC Authorizations and Other Matters..........................11
          (b)  Restrictions..................................................11
          (c)  ..............................................................12
          Reports; Access to Facilities, Files, and Records..................12
          (d)  Notice of Proceedings.........................................12
          (e)  Notice of Certain Developments................................12
          (f)  Issuance or other Transfer of Stock or Equivalents............12
          (g)  No Premature Assumption of Control............................13
     6.2  Covenants of Bastet and Stockholder Exercise Period................13
               (a) Application for Commission Consent........................13
               (b) Consents..................................................13
               (c) Consummation of Sale......................................13

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               (d) Hart-Scott-Rodino.........................................14

ARTICLE VII

     COVENANTS OF BUYER......................................................14
     7.1  Covenants of Buyer Generally.......................................14
     7.2  Covenants of Buyer during Exercise Period..........................14

ARTICLE VIII

     CONDITIONS TO SELLER'S OBLIGATIONS ON THE CLOSING DATE..................14
     8.1  Representations, Warranties, Covenants.............................15
     8.2  Proceedings........................................................15
     8.3  FCC Authorization..................................................15
     8.4  Hart-Scott-Rodino..................................................15
     8.5  Purchase Price.....................................................15
     8.6  Other Instruments..................................................15

ARTICLE IX

     REMEDIES................................................................16
     9.1  Bulk Sales Indemnity...............................................16
     9.2  Acknowledgment by Buyer............................................16

ARTICLE X

     TERMINATION/MISCELLANEOUS...............................................16
     10.1   Termination of Agreement Prior to the Closing Date...............16
            (a)  By Bastet or Stockholder....................................16
            (b)  By Buyer....................................................17
     10.2   Remedies.........................................................17
     10.3   Expenses.........................................................17
     10.4   Assignments; Exercise in Part....................................17
     10.5   Further Assurances...............................................18
     10.6   Notices..........................................................18
     10.7   Captions.........................................................19
     10.8   Law Governing....................................................20
     10.9   Consent to Jurisdiction, Etc.....................................20
     10.10  Waiver of Provisions.............................................20
     10.11  Counterparts.....................................................20
     10.12  Entire Agreement/Amendments......................................20

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     10.13  Access to Books and Records......................................21
     10.14  Public Announcements.............................................21
     10.15  Definitional Provisions..........................................22
            (a)  Terms Defined in Appendix...................................22
            (b)  Gender and Number...........................................22
     10.16  Arbitration......................................................22
            (a)  Generally...................................................22
            (b)  Notice of Arbitration.......................................22
            (c)  Selection of Arbitrator.....................................22
            (d)  Conduct of Arbitration......................................22
            (e)  Enforcement.................................................23
            (f)  Expenses....................................................23
     10.17  Termination of Transfer Restrictions in the Shared
            Services Agreement...............................................23

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                                OPTION AGREEMENT
                                ----------------

          THIS OPTION AGREEMENT is dated as of May 19, 1998, and is entered into
among Bastet Broadcasting, Inc., a Delaware corporation ("Bastet"), David Smith
("Stockholder"), and Nexstar Broadcasting of Northeastern Pennsylvania, L.P., a
Delaware limited partnership ("Buyer"). Other capitalized terms are defined in
the Appendix to this Agreement.

                                    RECITALS
                                    --------

          WHEREAS, Bastet is the licensee of broadcast television station
WYOU(TV), Scranton, Pennsylvania (the "Main Station"), together with broadcast
translator station W19AR (Channel 19), Clarks Summit, Pennsylvania (the "Clarks
Summit Translator"), broadcast translator station W54AV (Channel 54), Mansfield,
Pennsylvania (the "Mansfield Translator"), broadcast translator station W66AI
(Channel 66), Minersville, Pennsylvania (the "Minersville Translator"),
broadcast translator station W60AH (Channel 60), Stroudsburg, Pennsylvania (the
"Stroudsburg Translator"), and broadcast translator stations W26AT and W55AG
(Channels 26 and 55, respectively), Williamsport, Pennsylvania (the
"Williamsport Translators" and, together with the Clarks Summit Translator, the
Mansfield Translator, the Minersville Translator and the Stroudsburg Translator,
the "Translator Stations"). The Main Station and the Translator Stations are
sometimes collectively referred to as the "Stations";

          WHEREAS, Stockholder is the sole stockholder of Bastet;

          WHEREAS, Buyer and Bastet are parties to a Shared Services Agreement
dated as of January 5, 1998 (the "Shared Services Agreement") wherein Bastet and
Stockholder agreed to certain restrictions on the transfer of the Stations; and

          WHEREAS, Buyer, Bastet and Stockholder wish to terminate the transfer
restrictions under the Shared Services Agreement, in consideration for which
Bastet and Stockholder desire to grant to Buyer an option to acquire the Station
Assets described in more detail below, or (at Buyer's election) any or all of
the issued and outstanding capital stock of Bastet, and Buyer desires to be
granted such option, all on the terms described below and consistent with the
rules and regulations of the FCC;

          NOW, THEREFORE, in consideration of the foregoing and of other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:

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                                    ARTICLE I

                                GRANT OF OPTIONS;
                                -----------------
                              GENERAL TERMS OF SALE
                              ---------------------

          1.1 Asset Option Grant; Assets Covered. Bastet hereby grants to
Buyer, and Buyer hereby accepts Bastet's grant of, an option (the "Asset
Option") to acquire the Station Assets, upon the terms and conditions set forth
in this Agreement. Upon and subject to the terms and conditions stated in this
Agreement, if Buyer has exercised the Asset Option, then on the Closing Date,
Bastet, as its interests may appear, shall convey, transfer, and deliver to
Buyer, and Buyer shall acquire from Bastet, all of Bastet's rights in, to and
under the assets and properties of Bastet, real and personal, tangible and
intangible, of every kind and description which are used or useful in connection
with the business and operations of the Station, as a going concern, including,
without limitation, rights under contracts and leases, real and personal
property, plant and equipment, inventories, intangibles, licenses and goodwill,
but excluding all such assets and properties which constitute Excluded Assets.
The rights, assets, property, and business of Bastet with respect to the Station
to be transferred to Buyer pursuant to this Section 1.1 in connection with the
exercise of the Asset Option are referred to as the "Station Assets," and the
purchase and sale of the Station Assets pursuant to this Agreement in connection
with the exercise of the Asset Option is referred to as the "Asset Sale."
Subject to Section 1.2, the Station Assets include, without limitation, Bastet's
rights in, to and under the following, in each case if and to the extent in
existence and held by Bastet immediately prior to the Closing:

               (a) FCC Authorizations. All licenses, construction permits and
     authorizations issued by the FCC to Bastet with respect to the Station (the
     "FCC Authorizations"), and all applications therefor, together with any
     renewals, extensions, or modifications thereof and additions thereto.

               (b) Tangible Personal Property. All equipment, vehicles,
     furniture, fixtures, transmitting towers, antennas, transmitters, satellite
     earth stations, office materials and supplies, spare parts and other
     tangible personal property of every kind and description used in connection
     with the business and operations of the Station.

               (c) Real Property . All real property interests held by Bastet
     and all buildings, structures, towers, and improvements thereon used in the
     business and operations of the Station, and all other rights under any
     Contracts relating to real property (the "Realty Contracts"); provided
     that, in the event of destruction of or damage to any such real property
     interest or any improvement thereon which is not repaired or restored prior
     to the Closing Date, then at the Closing (if Buyer and Bastet are
     consummating the Asset Sale, as distinct from the Stock Sale) Bastet shall
     assign to Buyer all of Bastet's interest, if any, in the proceeds (the
     "Proceeds") of any insurance covering such damage or destruction.

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               (d) Agreements for Sale of Time. All orders, agreements and
     other Contracts for the sale of advertising time (including Trades) on the
     Station (collectively, the "Time Sales Contracts"), to the extent
     unperformed as of the Closing Date.

               (e) Program Contracts. All program licenses and other Contracts
     under which Bastet is authorized to broadcast film product or programs on
     the Station (collectively, the "Program Contracts").

               (f) Other Contracts. The Time Brokerage Agreement, all
     affiliation agreements and other Contracts relating to the Station to which
     Bastet is a party with respect to the Station (other than any Contract
     described in Section 1.1(c), 1.1(d) or 1.1(e) hereof) (collectively, the
     "Other Assumed Contracts").

               (g) Trademarks, etc. All trademarks, service marks, trade names,
     jingles, slogans, logotypes, the goodwill associated with the foregoing,
     and patents, owned and used by Bastet in connection with the business and
     operations of the Station, including, without limitation, all Bastet's
     rights to use the call letters "WYOU" and any related or other call
     letters, names and phrases used in connection with the Station.

               (h) Programming Copyrights. All program and programming
     materials and elements of whatever form or nature owned by Bastet and used
     solely in connection with the business and operations of the Station,
     whether recorded on tape or any other substance or intended for live
     performance, and whether completed or in production, and all related common
     law and statutory copyrights owned by or licensed to Bastet and used in
     connection with the business and operations of the Station.

               (i) FCC Records. Subject to Section 10.13, all FCC logs and
     other compliance records of Bastet that relate to the operations of the
     Station.

               (j) Files and Records. Subject to Section 10.13, all files and
     other records of Bastet relating to the business and operations of the
     Station prior to the Closing Date, including, without limitation, all
     books, records, accounts, checks, payment records, tax records (including,
     without limitation, payroll, unemployment, real estate, and other tax
     records), and other such similar books and records of Bastet, for five (5)
     fiscal years immediately preceding the Closing Date (collectively, the
     "Bastet's Recent Station Records").

               (k) Goodwill. All of Bastet's goodwill in, and going concern
     value of, the Station.

               (l) Prepaid Items. All prepaid expenses relating to the Station.

               (m) Cash. All cash, cash equivalents, and cash items of any kind
     whatsoever, certificates of deposit, money market instruments, bank
     balances, and rights in and to bank accounts, marketable and other
     securities held by Bastet.

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               (n) Receivables and Other Claims. All notes and accounts
     receivable and other receivables of Bastet relating to or arising out of
     the operation of the Station prior to the Closing, all security, insurance,
     and similar deposits, and all other claims of Bastet with respect to
     transactions or other conduct of the business of the Station prior to the
     Closing, including, without limitation, claims for tax refunds and claims
     of Bastet under all Contracts with respect to events or the period prior to
     the Closing.

          1.2 Excluded Assets. There shall be excluded from the Station Assets
and, to the extent in existence on the Closing Date (if Buyer and Bastet are
consummating the Asset Sale, as distinct form the Stock Sale), retained by
Bastet, the following assets (the "Excluded Assets"):

                    (a) Insurance. Subject to Section 1.1(c), all contracts of
          insurance and all insurance plans and the assets thereof, together
          with all rights and claims thereunder.

                    (b) Name. All of Bastet's rights to use the name "Bastet,"
          any variation thereof, or any related logo, name or phrase.

                    (c) Certain Contracts. All Realty Contracts, Time Sales
          Contracts, Program Contracts and Other Assumed Contracts which expire
          and are not renewed, or which otherwise terminate, on or prior to the
          Closing Date.

                    (d) Corporate Books and Records. Subject to Section 10.13,
          all account books of original entry and other than duplicate copies of
          such files and records, if any, that are maintained at any executive
          office of Bastet or the offices of Bastet's direct or indirect equity
          owners, and all materials of Bastet which constitute attorney work
          product or contain information which is protected by attorney-client
          privilege, wherever located, relating to matters at or prior to the
          Closing; provided that Bastet will provide Buyer access to such work
          product or privileged information to the extent necessary for Buyer to
          defend any claim brought against Buyer by a Person which is not, or is
          not an Affiliate of, a party to this Agreement.

                    (e) Transaction Documents. All rights of Bastet, or any
          successor to Bastet, pursuant to any Transaction Document.

          1.3 Stock Option Grant. Stockholder hereby grants to Buyer, and Buyer
hereby accepts Stockholder's grant of, an option (the "Stock Option") to
acquire, on one or more occasions, any or all of the issued and outstanding
capital stock of Bastet which is held by Stockholder, upon the terms and
conditions set forth in this Agreement. Upon and subject to the terms and
conditions stated in this Agreement, if Buyer has exercised the Stock Option,
then on the Closing Date, Stockholder shall convey, transfer, and deliver to
Buyer, and Buyer shall acquire from Stockholder, all of the capital stock of
Bastet ("Bastet Stock") held by Stockholder (or, if less, the Bastet Stock as to
which Buyer has exercised the Stock Option). The purchase and sale of Bastet
Stock pursuant to this Agreement in connection with the exercise of the Stock
Option is referred to as the "Stock Sale."

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          1.4 Option Exercise. In order to exercise either the Asset Option or
the Stock Option (collectively, the "Options"), Buyer must deliver to Bastet and
Stockholder (prior to the Option Expiration Date) written notice (an "Exercise
Notice") of Buyer's intention to do so. Buyer may withdraw any Exercise Notice
prior to the Closing by written notice to that effect to Bastet and Stockholder.
No such withdrawal (and no withdrawal of any subsequent Exercise Notice) will
affect Buyer's right subsequently to exercise either Option by delivering to
Bastet and Stockholder (prior to the Option Expiration Date) one or more other
Exercise Notices. Upon the withdrawal of any Exercise Notice, Buyer shall
reimburse Seller for all reasonable out-of-pocket expenses incurred by Seller in
connection with its compliance with Section 6.2 with respect to such Exercise
Notice. In the context of any exercise of the Asset Option or the consummation
of the Asset Sale, the term "Seller" refers to Bastet. In the context of any
exercise of the Stock Option or the consummation of the Stock Sale, the term
"Seller" refers to Stockholder.

          1.5 Liabilities.

               (a) Permitted Encumbrances. At the Closing, the Station Assets
     or the Bastet Stock, as the case may be, shall be sold and conveyed to
     Buyer free and clear of all Liens, (including all Liens which secure the
     repayment of Existing Station Indebtedness), other than (i) Liens for
     current taxes in respect of the Station and the Station Assets (but not the
     Bastet Stock) and other amounts which are not then due and payable and
     which arise by operation of law, (ii) Liens on the Station Assets which are
     in existence on the date of this Agreement and which do not secure
     indebtedness or borrowed money, (iii) Liens on the Station's assets arising
     by operation of law or in the ordinary course of Bastet's business after
     the date of this Agreement and not securing indebtedness for borrowed
     money, (iv) Liens on the Bastet Stock which arise by virtue of the Stock
     Option, and (v) Liens on the Station Assets which, in the aggregate, would
     not be expected to have a material effect on the Station Assets after the
     Asset Sale.

               (b) Assumption of Liabilities Generally upon Asset Sale. In the
     case of the Asset Sale, the "Assumed Liabilities" will be all liabilities
     and obligations of Bastet relating to the operation of the Station or the
     ownership or operation of the Station Assets, in each case as of the
     Closing Date, whether contingent or absolute, known or unknown, accrued or
     not accrued, or matured or unmatured, including all liabilities and
     obligations pursuant to any Realty Contract, Time Sales Contract, Program
     Contract or Other Assumed Contract (collectively, the "Assumed Contracts")
     in effect on the Closing Date, including the Time Brokerage Agreement. On
     the Closing Date (if Buyer and Bastet are consummating the Asset Sale),
     Buyer will assume and agree to pay, satisfy, perform and discharge all
     Assumed Liabilities. From and after the Closing (if Buyer and Bastet have
     consummated the Asset Sale), Buyer will discharge and reimburse and hold
     harmless Bastet against, and Bastet will not be responsible or otherwise
     liable for, any Assumed Liability. Without limiting the foregoing, except
     as otherwise provided in this Agreement, the "Assumed Liabilities" will not
     include, and on the Closing Date Buyer shall not assume or thereafter be
     liable for, any liability or obligation of Bastet relating to any Existing
     Station Indebtedness (it being understood that all Existing Station
     Indebtedness will be satisfied prior to, or

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     contemporaneously with, the consummation of the Asset Sale). The revenues,
     expenses and liabilities of Bastet or attributable to the Station and the
     Station Assets will not be prorated between Buyer and Bastet in connection
     with the Asset Sale.

                                   ARTICLE II

                                     CLOSING
                                     -------

          2.1 Exercise Price.

               (a) Payment. In consideration of the transfer and delivery of
     the Station Assets or the Bastet Stock (as the case may be) to Buyer at the
     Closing, (i) Buyer will pay to Seller an amount which is equal to the Cash
     Purchase Price, and (ii) if Buyer and Bastet are consummating the Asset
     Sale, then Buyer will assume the Assumed Liabilities. The Cash Purchase
     Price shall be paid by Buyer to Seller on the Closing Date by wire transfer
     of immediately available funds to such bank account(s) as Seller may
     designate on or prior to the Closing Date.

               (b) Definition of Cash Purchase Price. The "Cash Purchase Price"
     shall be equal to the Existing Station Indebtedness as of the date of the
     Closing.

               (c) Determination of Cash Purchase Price. Each of Buyer, Bastet
     and Stockholder will use reasonable efforts to assist in the determination
     of the Existing Station Indebtedness. Notwithstanding Section 10.1(a) of
     this Agreement, neither Bastet nor Stockholder may terminate this Agreement
     at any time at which an Exercise Notice has been given (and not withdrawn)
     and the related Existing Station Indebtedness has not been determined, or
     during the twenty business days after any such determination.

               (d) Allocation of Cash Purchase Price after Asset Sale. If Buyer
     and Bastet consummate the Asset Sale, then Buyer and Bastet will allocate
     the Cash Purchase Price among the Station Assets in accordance with a
     report of such allocation prepared in good faith by Buyer based upon the
     valuation report of an independent appraiser retained by Buyer and in
     accordance with all applicable provisions of the Internal Revenue Code of
     1986, as in effect from time to time. Buyer will submit such reports of
     Buyer and such independent appraiser to Bastet prior to the Closing of the
     Asset Sale. Buyer and Bastet agree to file (at such times and in such
     manner as may be required by applicable Legal Requirements) all relevant
     returns and reports (including, without limitation, Forms 8594, Asset
     Acquisition Statements, and all income and other tax returns) on the basis
     of such allocations.

          2.2 The Closing. Subject to Section 10.1, the closing of the Asset
Sale or the Stock Sale (in either case, a "Sale"), and, in the case of the Asset
Sale, the assumption of the Assumed Liabilities (the "Assumption"), and the
consummation of all related transactions to be

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consummated contemporaneously therewith pursuant to this Agreement (the
"Closing"), shall be held after the satisfaction or Seller's waiver in writing
of each of the conditions set forth in Article VIII and at the time and location
and on the date specified by Buyer in writing to Seller delivered not less than
fifteen business days prior to such date, or at such other place and/or at such
other time and day as Seller and Buyer may agree in writing.

          2.3 Deliveries at Closing. All actions at the Closing shall be deemed
to occur simultaneously, and no document or payment to be delivered or made at
the Closing shall be deemed to be delivered or made until all such documents and
payments are delivered or made to the reasonable satisfaction of Buyer, Seller
and their respective counsel.

          (a) Deliveries by Seller. At the Closing, Seller shall deliver to
     Buyer such instruments of conveyance and other customary documentation as
     shall in form and substance be reasonably satisfactory to Buyer and its
     counsel in order to effect the Sale in question, including, without
     limitation, the following:

          (1)  in the case of the Asset Sale, one or more bills of sale
               conveying the Station Assets, and in the case of the Stock Sale,
               each certificate representing the Bastet Stock, duly endorsed for
               transfer or accompanied by an appropriate stock power;

          (2)  any releases of Liens that are necessary in order to transfer the
               Station Assets or the Bastet Stock in the manner contemplated by
               Section 1.5(a);

          (3)  if Seller is not a natural person, a certified copy of the
               resolutions or proceedings of Seller's board of directors and
               stockholders (or similar Persons) authorizing Seller's
               consummation of the Sale;

          (4)  if Seller is not a natural person, then a certificate as to the
               existence and/or good standing of Seller issued by the Secretary
               of State or Secretary of the Commonwealth, as the case may be, of
               the state under the laws of which Seller is incorporated,
               organized or formed (and in any event, in the case of the Asset
               Sale, of the Secretary of the Commonwealth of the Commonwealth of
               Pennsylvania), in each case dated on or after the fifth Business
               Day prior to the Closing Date, certifying as to the good standing
               and/or qualification of Seller in such jurisdiction;

          (5)  a receipt for the Cash Purchase Price;

          (6)  all Consents received by Seller through the Closing Date; and

          (7)  such other documents as Buyer may reasonably request.

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          (b) Deliveries by Buyer. At the Closing, Buyer shall deliver to
     Seller the Cash Purchase Price as provided in Section 2.1 and such
     instruments of assumption and other customary documentation as shall in
     form and substance be reasonably satisfactory to Seller and its counsel in
     order to effect the Sale (and, in the case of the Asset Sale, the
     Assumption), including, without limitation, the following:

          (1)  a certificate of Buyer dated the Closing Date to the effect that,
               except as specified in such certificate, the conditions set forth
               in Article VIII have been fulfilled;

          (2)  if Buyer is not a natural person, then a certified copy of the
               resolutions or proceedings of Buyer authorizing the consummation
               of the Sale (and, in the case of the Asset Sale, the Assumption);

          (3)  if Buyer is not a natural person, then a certificate issued by
               the Secretary of State of the state under the laws of which Buyer
               is incorporated, organized or formed (and in any event, if
               qualification of Buyer to conduct business in the Commonwealth of
               Pennsylvania is required in order for Buyer to hold the Station
               Assets or the Bastet Stock, as the case may be, after the Sale,
               then of the Secretary of Pennsylvania of the Commonwealth of
               Pennsylvania), in each case dated on or after the fifth Business
               Day prior to the Closing Date, certifying as to the organization
               and/or qualification of Buyer in each such jurisdiction; and

          (4)  such other documents as Seller may reasonably request.

                                   ARTICLE III

                    REPRESENTATIONS AND WARRANTIES OF BASTET
                    ----------------------------------------

          Bastet represents and warrants to Buyer as follows:

          3.1 Incorporation; Power. Bastet is a corporation duly organized,
validly existing, and in good standing under the laws of the State of Delaware
and in good standing under the laws of the Commonwealth of Pennsylvania. Bastet
has the corporate power to enter into and consummate the transactions
contemplated by this Agreement. David Smith is the beneficial and record owner
of all issued and outstanding capital stock of Bastet, and there are not
outstanding any warrants, options or other securities or rights (collectively,
"Bastet Stock Equivalents") which directly or indirectly are exercisable or
exchangeable for, or convertible into, any capital stock of Bastet or any Bastet
Stock Equivalent.

          3.2 Corporate Action. All actions necessary to be taken by or on the
part of Bastet in connection with the execution and delivery of this Agreement
and the consummation of

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transactions contemplated hereby to be consummated and presently necessary to
make the same effective have been duly and validly taken. This Agreement has
been duly and validly authorized, executed, and delivered by Bastet and
constitutes a valid and binding agreement, enforceable against Bastet in
accordance with and subject to its terms.

          3.3 No Defaults. On the Closing Date (after giving effect to all
approvals and consents which have been obtained), neither the execution and
delivery by Bastet of this Agreement, nor the consummation by Bastet of the
transactions contemplated by this Agreement to be consummated on or prior to the
Closing Date, will constitute, or, with the giving of notice or the passage of
time or both, would constitute, a material violation of or would conflict in any
material respect with or result in any material breach of or any material
default under, any of the terms, conditions, or provisions of any Legal
Requirement to which Bastet is subject, or of Bastet's certificate of
incorporation or by-laws or similar organizational documents, or of any material
contract, agreement, or instrument to which Bastet is a party or by which Bastet
is bound.

          3.4 Brokers. There is no broker or finder or other Person who would
have any valid claim against Bastet for a commission or brokerage fee in
connection with this Agreement or the transactions contemplated hereby as a
result of any agreement or understanding of or action taken by Bastet or any
Affiliate of Bastet.

                                   ARTICLE IV

                  REPRESENTATIONS AND WARRANTIES OF STOCKHOLDER
                  ---------------------------------------------

          Stockholder represents and warrants to Buyer as follows:

          4.1 Capacity. If Stockholder is not a natural person, then Stockholder
is a corporation, partnership, limited liability company or other entity duly
organized or constituted, validly existing, and in good standing under the laws
of the state under whose laws Stockholder is purported to have been organized or
constituted, and Buyer has the corporate or other power (or, if Stockholder is a
natural person, then Stockholder has the legal capacity) to enter into and
consummate the transactions contemplated by this Agreement.

          4.2 Action. All actions necessary to be taken by or on the part of
Stockholder in connection with the execution and delivery of this Agreement and
the consummation of transactions contemplated hereby to be consummated and
presently necessary to make the same effective have been duly and validly taken.
This Agreement has been duly and validly authorized (if Stockholder is not a
natural person), executed, and delivered by Stockholder and constitutes a valid
and binding agreement, enforceable against Stockholder in accordance with and
subject to its terms.

          4.3 No Defaults. On the Closing Date (after giving effect to all
approvals and consents which have been obtained), neither the execution and
delivery by Stockholder of this

                                        9

<PAGE>

Agreement, nor the consummation by Stockholder of the transactions contemplated
by this Agreement to be consummated on or prior to the Closing Date, will
constitute, or, with the giving of notice or the passage of time or both, would
constitute, a material violation of or would conflict in any material respect
with or result in any material breach of or any material default under, any of
the terms, conditions, or provisions of any Legal Requirement to which
Stockholder is subject, or (if Stockholder is not a natural person) of
Stockholder's certificate of incorporation or by-laws or similar organizational
documents, or of any material contract, agreement, or instrument to which
Stockholder is a party or by which Stockholder is bound.

          4.4 Brokers. There is no broker or finder or other Person who would
have any valid claim against Stockholder for a commission or brokerage fee in
connection with this Agreement or the transactions contemplated hereby as a
result of any agreement or understanding of or action taken by Stockholder or
any Affiliate of Stockholder.

                                    ARTICLE V

                     REPRESENTATIONS AND WARRANTIES OF BUYER
                     ---------------------------------------

          Buyer represents and warrants to Bastet and Stockholder as follows:

          5.1 Incorporation. If Buyer is not a natural person, then Buyer is a
corporation, partnership, limited liability company or other entity duly
organized or constituted, validly existing, and in good standing under the laws
of the state under whose laws Buyer is purported to have been organized or
constituted, and Buyer has the corporate or other power (or, if Buyer is a
natural person, then Buyer has the legal capacity) to enter into and consummate
the transactions contemplated by this Agreement.

          5.2 Action. All actions necessary to be taken by or on the part of
Buyer in connection with the execution and delivery of this Agreement and the
consummation of transactions contemplated hereby to be consummated and presently
necessary to make the same effective have been duly and validly taken. This
Agreement has been duly and validly authorized (if Buyer is not a natural
person), executed and delivered by Buyer and constitutes a valid and binding
agreement, enforceable against Buyer in accordance with and subject to its
terms.

          5.3 No Defaults. On the Closing Date (after giving effect to all
approvals and consents which have been obtained), neither the execution and
delivery by Buyer of this Agreement, nor the consummation by Buyer of the
transactions contemplated by this Agreement to be consummated on or prior to the
Closing Date, will constitute, or, with the giving of notice or the passage of
time or both, would constitute, a material violation of or would conflict in any
material respect with or result in any material breach of or any material
default under, any of the terms, conditions, or provisions of any Legal
Requirement to which Buyer is subject, or of Buyer's certificate of
incorporation or by-laws or similar organizational documents, if any, or of any
material contract, agreement, or instrument to which Buyer is a party or by
which Buyer is bound.

                                       10

<PAGE>

          5.4 Brokers. There is no broker or finder or other Person who would
have any valid claim against Seller for a commission or brokerage fee in
connection with this Agreement or the transactions contemplated hereby as a
result of any agreement or understanding of or action taken by Buyer or any
Affiliate of Buyer.

                                   ARTICLE VI

                       COVENANTS OF BASTET AND STOCKHOLDER
                   -------------------------------------------

          6.1 Covenants of Bastet and Stockholder Generally. Bastet covenants
and agrees that, from the date of this Agreement until the Closing, except as
(i) Buyer may otherwise consent (which consent (other than in the case of
Section 6.1(f)) Buyer will not unreasonably withhold or delay upon Bastet's
request) or (ii) Bastet may otherwise be requested by Buyer to act or refrain
from acting:

          (a) FCC Authorizations and Other Matters. Bastet and Stockholder will
     promptly execute any necessary applications for renewal of FCC
     Authorizations necessary for the operation of the Station as presently
     conducted and will use reasonable efforts to cooperate with Buyer in any
     other respect in which Buyer may reasonably request in order to enhance,
     protect, preserve or maintain the Station Assets and/or the business and
     operation of the Station.

          (b) Restrictions. Bastet will not (to the extent the following
     restrictions are permitted by the FCC and all other applicable Legal
     Requirements):

          (1)  other than in the ordinary course of business, sell, lease (as
               lessor), transfer, or agree to sell, lease (as lessor), or
               transfer any material Station Assets (other than in the ordinary
               course of its business) without replacement thereof with
               functionally equivalent or superior assets;

          (2)  enter into any amendment or other modification of any agreement,
               instrument or other document governing or relating to Existing
               Station Indebtedness;

          (3)  apply to the FCC for any construction permit that would
               materially restrict the Station's present operations or make any
               material adverse change in the buildings or leasehold
               improvements owned by Bastet;

          (4)  (i) authorize, declare or pay any dividend or return any equity
               capital to its stockholders, (ii) redeem, retire, purchase or
               otherwise acquire, directly or indirectly, for consideration any
               of its shares of any class of its capital stock or other Equity
               Securities outstanding, or (iii) make any other form of cash
               distributions; or

                                       11

<PAGE>

          (5)  enter into any arrangement or contract with Stockholder, any
               affiliate of Stockholder or any of Stockholder's parents, spouse,
               descendants (whether natural, step or adopted) or other family
               member of Stockholder.

          (c) Reports; Access to Facilities, Files, and Records. Buyers' Access
     Generally. From time to time, at the request of Buyer, Bastet shall give or
     cause to be given to the officers, employees, accountants, counsel, and
     representatives of Buyer

               (1) access, upon reasonable prior notice, during normal business
          hours, to all facilities, property, accounts, books, deeds, title
          papers, insurance policies, licenses, agreements, contracts,
          commitments, records, equipment, machinery, fixtures, furniture,
          vehicles, accounts payable and receivable, and inventories of Bastet
          related to the Station, and

               (2) all such other information in Bastet's possession concerning
          the affairs of the Station as Buyer may reasonably request,

provided that the foregoing does not disrupt or interfere with the business and
operations of Bastet or the Station.

          (d) Notice of Proceedings. Bastet and Stockholder will promptly
     notify Buyer in writing upon becoming aware of any order or decree or any
     complaint praying for an order or decree restraining or enjoining the
     consummation of the Asset Sale or the Stock Sale, or upon receiving any
     notice from any governmental department, court, agency, or commission of
     its intention to institute an investigation into or institute a suit or
     proceeding to restrain or enjoin the consummation of the Asset Sale or the
     Stock Sale, or to nullify or render ineffective this Agreement (or the
     Asset Sale or the Stock Sale, if consummated).

          (e) Notice of Certain Developments. Bastet shall give prompt written
     notice to Buyer, promptly after Bastet becomes aware of the same, (1) if
     the Station Assets shall have suffered damage on account of fire,
     explosion, or other cause of any nature which is sufficient to prevent
     operation of the Station in any material respect for more than ten (10)
     consecutive days, or (2) if the regular broadcast transmission of the
     Station in the normal and usual manner in which it heretofore has been
     operating is interrupted in a material manner for a period of more than ten
     (10) consecutive days.

          (f) Issuance or other Transfer of Stock or Equivalents. Bastet will
     not issue any shares of its capital stock or any Bastet Stock Equivalent to
     any Person unless (i) such Person thereupon becomes a party to this
     Agreement with respect to all Bastet Stock which such Person holds by
     executing and delivering to Buyer a counterpart of this Agreement by which
     such Person agrees to be treated as an additional "Stockholder" hereunder
     and (ii) each representation or warranty set forth in Article IV is true
     and correct in all respects with respect to such Person. The execution of
     any such counterpart of this Agreement by any such Person will be deemed to
     constitute a representation and warranty of such Person to the

                                       12

<PAGE>

     effect that all representations and warranties set forth in Article IV are
     true and correct with respect to such Person in all respects. Stockholder
     will not sell, convey or otherwise transfer or dispose of any Bastet Stock
     or Bastet Stock Equivalent other than (A) to a Person who executes and
     delivers to Buyer such a counterpart of this Agreement and with respect to
     whom all representations and warranties set forth in Article IV are true
     and correct in all respects or (B) upon his death or incapacity, in which
     event this Agreement will be binding upon Stockholder's estate, personal or
     legal representatives, heirs and other successors; provided that this
     sentence shall not apply to any transfer or disposal pursuant to the Smith
     Pledge Agreement dated as of the date of January 5, 1998 made by David
     Smith in favor of Bank of America National Trust and Savings Association
     (the "Pledge Agreement").

          (g) No Premature Assumption of Control. Nothing contained in this
     Section 6.1 shall give Buyer any right to control the programming,
     operations, or any other matter relating to the Station prior to the
     Closing Date, and Bastet shall have complete control of the programming,
     operations, and all other matters relating to the Station up to the time of
     the Closing.

          6.2 Covenants of Bastet and Stockholder Exercise Period. Each of
Bastet and Stockholder covenants and agrees that, after its receipt of each and
every Exercise Notice and until either the Closing occurs or such Exercise
Notice is withdrawn pursuant to Section 1.3:

          (a) Application for Commission Consent. As promptly as practicable,
     Bastet or Stockholder, as appropriate, will complete the seller's or
     transferee's portion of all necessary applications to the FCC requesting
     the Required FCC Consents (if any), and upon receipt of Buyer's portion of
     such applications, will promptly file such applications with the FCC
     jointly with Buyer. Each of Bastet and Stockholder will diligently take or
     cooperate in the taking of all reasonable steps that are necessary, proper,
     or desirable to expedite the preparation of such applications (including
     withdrawal and/or re-filing, or any amendment or supplement thereto, which
     Buyer may request) and their prosecution to a final grant. Each of Bastet
     and Stockholder will promptly provide Buyer with a copy of any pleading,
     order, or other document served on Bastet or Stockholder relating to such
     applications.

          (b) Consents. Bastet and Stockholder will use reasonable efforts
     (without being required to make any payment not specifically required by
     the terms of any licenses, leases, and other contracts) to assist Buyer to
     (1) obtain or cause to be obtained prior to the Closing Date all Consents
     or, in the absence of any Consent, one or more replacement agreements which
     would be effective on or prior to the Closing and would grant Buyer (after
     the Closing) substantially the same benefits with respect to the Station as
     Bastet or Stockholder, as the case may be, enjoys with respect to the
     Station immediately prior to the Closing under the replaced Contract(s),
     and (2) cause each Consent or replacement agreement to become effective as
     of the Closing Date (whether it is granted or entered into prior to or
     after the Closing).

                                       13

<PAGE>

          (c) Consummation of Sale. Subject to the provisions of Article VIII
     and Section 10.1, Bastet and Stockholder shall use reasonable efforts to
     fulfill and perform all conditions and obligations on its part to be
     fulfilled and performed under this Agreement and to cause the conditions
     set forth in Article VIII to be fulfilled and cause the Sale (and, in the
     case of the Asset Sale, the Assumption) to be consummated.

          (d) Hart-Scott-Rodino. As promptly as practicable, Bastet and
     Stockholder shall prepare and file all documents with the Federal Trade
     Commission and the United States Department of Justice which may be
     required to comply with the Hart-Scott-Rodino Act in connection with the
     Sale (and, in the case of the Asset Sale, the Assumption), and shall
     promptly furnish all materials thereafter requested by any of the
     regulatory agencies having jurisdiction over such filings, in connection
     with the Sale (and, in the case of the Asset Sale, the Assumption). Bastet
     and Stockholder will take all reasonable actions, and will file and use
     reasonable efforts to have declared effective or approved all documents and
     notifications with any governmental or regulatory bodies, as may be
     necessary or may reasonably be requested under federal antitrust laws for
     the consummation of the Sale (and, in the case of the Asset Sale, the
     Assumption).

                                   ARTICLE VII

                               COVENANTS OF BUYER
                               ------------------

          7.1 Covenants of Buyer Generally. Buyer covenants and agrees that
Buyer will promptly notify Seller in writing upon becoming aware of any order or
decree or any complaint praying for an order or decree restraining or enjoining
the consummation of the Sale (or, in the case of the Asset Sale, the
Assumption), or upon receiving any notice from any governmental department,
court, agency, or commission of its intention to institute an investigation into
or institute a suit or proceeding to restrain or enjoin the consummation of the
Sale (or, in the case of the Asset Sale, the Assumption), or to nullify or
render ineffective this Agreement or the Sale (or, in the case of the Asset
Sale, the Assumption) if consummated.

          7.2 Covenants of Buyer during Exercise Period. Buyer covenants and
agrees that, after it gives any Exercise Notice and unless and until such
Exercise Notice is withdrawn pursuant to Section 1.3, Buyer will use reasonable
efforts (both prior to and after the Closing Date) jointly with Seller to obtain
or cause to be obtained prior to the Closing Date all Consents and to execute
such assumption instruments as may be required or requested in connection with
obtaining any Consent (or, in the alternative, enter into one or more
replacement agreements which would be effective on or prior to the Closing and
would grant Buyer substantially the same benefits with respect to the Station as
Bastet or Stockholder, as the case may be, enjoys with respect to the Station
under the replaced Contract(s) immediately prior to the Closing).

                                       14

<PAGE>

                                  ARTICLE VIII

                       CONDITIONS TO SELLER'S OBLIGATIONS
                               ON THE CLOSING DATE
                               -------------------

          The obligation of Seller to consummate the Sale on the Closing Date
is, at Seller's option, subject to the fulfillment of the following conditions
at or prior to the time of the Closing:

          8.1 Representations, Warranties, Covenants.

               (a) Each of the representations and warranties of Buyer contained
     in this Agreement shall be true and accurate in all material respects
     (except to the extent changes are permitted or contemplated pursuant to
     this Agreement) both on the date of this Agreement and as if made on and as
     of the Closing Date; and

               (b) Buyer shall have performed and complied in all material
     respects with each and every covenant and agreement required by this
     Agreement to be performed or complied with by it prior to or at the Closing
     (including the delivery of the Cash Purchase Price).

          8.2 Proceedings.

               (a) No action or proceeding shall have been instituted and be
     pending before any court or governmental body to restrain or prohibit, or
     to obtain a material amount of damages in respect of, the consummation of
     the Sale (or, in the case of the Asset Sale, the Assumption) that, in the
     reasonable opinion of Seller, may reasonably be expected to result in a
     preliminary or permanent injunction against such consummation or, if the
     Sale (or, in the case of the Asset Sale, the Assumption) were consummated,
     an order to nullify or render ineffective this Agreement or the Sale (or,
     in the case of the Asset Sale, the Assumption) or for the recovery against
     Seller of a material amount of damages; and

               (b) none of the parties to this Agreement shall have received
     written notice from any governmental body of (i) such governmental body's
     intention to institute any action or proceeding to restrain or enjoin or
     nullify this Agreement or the Sale (or, in the case of the Asset Sale, the
     Assumption), or to commence any investigation (other than a routine letter
     of inquiry, including, without limitation, a routine Civil Investigative
     Demand) into the consummation of the Sale (or, in the case of the Asset
     Sale, the Assumption), or (ii) the actual commencement of such an
     investigation, in each case which remains pending or open.

          8.3 FCC Authorization. If there is any Required FCC Consent with
respect to the Sale, then the FCC Approval Date shall have occurred with respect
to all such Consents and all Required FCC Consents shall be in full force and
effect.

                                       15

<PAGE>

          8.4 Hart-Scott-Rodino. Any applicable waiting period under the
Hart-Scott-Rodino Act shall have expired or been terminated.

          8.5 Purchase Price. The Existing Station Indebtedness will have been
determined as provided in Section 2.1.

          8.6 Other Instruments. Buyer shall have delivered, or shall stand
ready to deliver, to Seller such instruments, documents, and certificates as are
contemplated by Section 2.3(b).

                                   ARTICLE IX

                                    REMEDIES
                                    --------

          9.1 Bulk Sales Indemnity. In the case of the Asset Sale, Buyer and
Bastet have jointly determined that there will be no attempt to comply with the
notice provisions of any bulk sales law which may apply to the purchase and sale
of the Station Assets pursuant to this Agreement. Buyer will indemnify and hold
Bastet harmless from and against any and all damages, claims, losses, expenses,
costs, obligations, and liabilities, including, without limiting the generality
of the foregoing, liabilities for reasonable attorneys' fees and expenses,
suffered directly or indirectly by Bastet by reason of or arising out of
non-compliance with any such bulk sales law.

          9.2 Acknowledgment by Buyer. Buyer has conducted, to its
satisfaction, an independent investigation and verification of the financial
condition, results of operations, assets, liabilities, properties and projected
operations of the Station and the Station Assets. In determining to proceed with
the transactions contemplated by this Agreement, Buyer has relied, and will
rely, on the representations, warranties and covenants of Bastet and Stockholder
set forth in this Agreement and the results of such independent investigation
and verification. BUYER ACKNOWLEDGES THAT BASTET AND STOCKHOLDER MAKE NO
REPRESENTATION OR WARRANTY IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED
HEREBY OTHER THAN AS EXPRESSLY SET FORTH IN THIS AGREEMENT. BUYER FURTHER
UNDERSTANDS, ACKNOWLEDGES AND AGREES THAT ALL OTHER REPRESENTATIONS AND
WARRANTIES OF ANY KIND OR NATURE (INCLUDING, WITHOUT LIMITATION, ANY
REPRESENTATION OR WARRANTY RELATING TO THE PROJECTED, FUTURE OR HISTORICAL
FINANCIAL CONDITION, RESULTS OR OPERATIONS, ASSETS OR LIABILITIES RELATING TO
THE STATION), EXPRESS OR IMPLIED, ARE SPECIFICALLY DISCLAIMED BY BASTET AND
STOCKHOLDER.

                                       16

<PAGE>

                                    ARTICLE X

                            TERMINATION/MISCELLANEOUS
                            -------------------------

          10.1 Termination of Agreement Prior to the Closing Date. This
Agreement may be terminated at any time on or prior to the Closing as follows:

               (a) By Bastet or Stockholder. By Bastet or Stockholder, by
     written notice (a "Termination Notice") to Buyer at any time after the
     seventh anniversary of the date of this Agreement, if (I) the Closing with
     respect to the Station Assets or Bastet Stock held by such Person has not
     occurred on or prior to the date upon which such Person's Termination
     Notice is given, and (II) any of such Person's conditions to closing set
     forth in Article VIII has not been either satisfied or waived by such
     Person and the absence of satisfaction of any such condition to closing is
     not caused solely by a breach by any Person other than Buyer of its
     obligations under this Agreement.

               (b) By Buyer. By Buyer, by written notice to Bastet and
     Stockholder, at any time.

Neither Buyer, Bastet nor Stockholder shall have any liability to any of the
other of them for costs, expenses, damages (consequential or otherwise), loss of
anticipated profits, or otherwise as a result of a termination pursuant to this
Section 10.1. This Article X will survive the termination of this Agreement
pursuant to this Section 10.1.

          10.2 Remedies. In the event of a breach of any of Bastet's or
Stockholder's obligations under this Agreement, Buyer, in addition to being
entitled to exercise all rights provided herein or granted by law, including
recovery of damages, will be entitled to specific performance of its rights
under this Agreement. The parties hereto agree that monetary damages would not
be adequate compensation for any loss incurred by reason of a breach of any such
obligations of Bastet or Stockholder.

          10.3 Expenses. Except as otherwise expressly provided in this
Agreement, each of Bastet, Stockholder and Buyer shall bear all of its expenses
incurred in connection with the transactions contemplated by this Agreement,
including, without limitation, accounting and legal fees incurred in connection
herewith; provided that Buyer will reimburse Seller for all reasonable
out-of-pocket expenses incurred by Seller in connection with the Closing.

          10.4 Assignments; Exercise in Part. This Agreement shall not be
assigned by Bastet or Stockholder without the prior written consent of Buyer;
provided that after the Closing (in the case of the Asset Sale), Bastet may
assign its rights pursuant to this Agreement to any other Person in connection
with the dissolution, liquidation or winding up or administration of the affairs
of Bastet; and further provided that, whether or not any requisite consent of
Buyer has been obtained,

                                       17

<PAGE>

this Agreement will be binding upon all successors of Bastet and Stockholder,
whether by operation of law or otherwise, including any Person who acquires
Bastet Stock pursuant to any exercise of the Stock Option (except that this
proviso shall not apply to any transfer or disposal pursuant to the Pledge
Agreement). Any attempt by Bastet or Stockholder to assign this Agreement
without first obtaining the consent of Buyer shall be void. This Agreement shall
be binding upon and inure to the benefit of the parties hereto and their
respective successors and permitted assigns. This Agreement may be assigned in
whole or in part by Buyer without the prior written consent of Bastet or
Stockholder to any Person (provided that no such assignment shall relieve the
assigning Person of any of its obligations or liabilities hereunder), and at
Buyer's election the Stock Option may be exercised, and the Stock Sale may be
consummated, from time to time as to less than all of the Bastet Stock without
any adverse impact on Buyer's right subsequently to exercise the Stock Option
and consummate the Stock Sale as to any or all of the Bastet Stock. Without
limiting the foregoing, Buyer may exercise the Stock Option and consummate the
Stock Sale as to less than all of the Bastet Stock (including with respect to
less than all of the Bastet Stock held by any particular Person who is a
Stockholder), in which event for purposes of such Sale the provisions of this
Agreement relating to the consummation of such Stock Sale will apply only to the
Bastet Stock as to which the Stock Option is exercised, and Buyer may thereafter
exercise the Stock Option and consummate the Stock Sale on one or more occasions
as to all or any portion of the Bastet Stock.

          10.5 Further Assurances. From time to time prior to, at, and after
the Closing Date, each party hereto will execute all such instruments and take
all such actions as another party hereto, being advised by counsel, shall
reasonably request in connection with carrying out and effectuating the intent
and purpose hereof, and all transactions and things contemplated by this
Agreement, including, without limitation, the execution and delivery of any and
all confirmatory and other instruments, in addition to those to be delivered on
the Closing Date, as the case may be, and any and all actions which may
reasonably be necessary to complete the transactions contemplated hereby.

          10.5 Notices. All notices, demands, and other communications which may
or are required to be given hereunder or with respect hereto shall be in
writing, shall be delivered personally or sent by nationally recognized
overnight delivery service, charges prepaid, or by registered or certified mail,
return-receipt requested, and shall be deemed to have been given or made when
personally delivered, the next business day after delivery to such overnight
delivery service, three (3) days after deposited in the mail, first class
postage prepaid, as the case may be, addressed as follows:

                                       18

<PAGE>

                    (a)  If to Bastet:

                         Bastet Broadcasting, Inc.
                         806 South Cassingham Road
                         Bexley, OH 43209
                         Attention:  Mr. David Smith, President

                         with a copy (which will not constitute
                         notice to Bastet) to:

                         Piliero Goldstein Jenkins & Hall, L.P.
                         292 Madison Avenue
                         New York, NY 10017
                         Attention: Ed Goldstein, Esq.

or to such other address and/or with such other copies as Bastet may from time
to time designate by notice to Buyer and Stockholder given in accordance with
this Section 10.6;

                    (b)  If to Stockholder:

                         806 South Cassingham Road
                         Bexley, OH  43209

                         with a copy (which will not constitute
                         notice to Stockholder) to:

                         Piliero Goldstein Jenkins & Hall, L.P.
                         292 Madison Avenue
                         New York, NY 10017

                         Attention: Ed Goldstein, Esq.

or to such other address and/or with such other copies as Stockholder may from
time to time designate by notice to Buyer and Bastet given in accordance with
this Section 10.6;

                    (c)  If to Buyer:

                         200 Abington Executive Park
                         Suite 201
                         Clarks Summit, PA  18422
                         Attention: Perry A. Sook, Chief Executive Officer

                                       19

<PAGE>

                         with copies (which will not constitute
                         notice to Buyer) to:

                         ABRY Partners
                         18 Newbury Street
                         Boston, MA 02116
                         Attention: Jay Grossman

                         and

                         Kirkland & Ellis
                         153 East 53rd Street
                         New York, NY  10022
                         Attention: John L. Kuehn, Esq.

or to such other address and/or with such other copies as Buyer may from time to
time designate by notice to Bastet and Stockholder given in accordance with this
Section 10.6.

          10.7 Captions. The captions of Articles and Sections of this Agreement
are for convenience only, and shall not control or affect the meaning or
construction of any of the provisions of this Agreement.

          10.8 Law Governing. THIS AGREEMENT SHALL BE GOVERNED BY, CONSTRUED,
AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF PENNSYLVANIA
WITHOUT REFERENCES TO ITS PRINCIPLES OF CONFLICT OF LAWS, EXCEPT TO THE EXTENT
THAT THE FEDERAL LAW OF THE UNITED STATES GOVERNS THE TRANSACTIONS CONTEMPLATED
HEREBY.

          10.9 Consent to Jurisdiction, Etc. SUBJECT TO SECTION 10.16, IN THE
EVENT OF ANY ACTION OF PROCEEDING WITH RESPECT TO ANY MATTER PERTAINING TO THIS
AGREEMENT, THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY CONSENT TO THE
NON-EXCLUSIVE JURISDICTION AND VENUE OF THE COURTS OF THE COMMONWEALTH OF
PENNSYLVANIA AND OF ANY FEDERAL COURT LOCATED IN THE COMMONWEALTH OF
PENNSYLVANIA IN CONNECTION WITH ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THE TRANSACTION DOCUMENTS. THE PARTIES HERETO HEREBY WAIVE PERSONAL
SERVICE OF ANY PROCESS IN CONNECTION WITH ANY SUCH ACTION OR PROCEEDING AND
AGREE THAT THE SERVICE THEREOF MAY BE MADE BY CERTIFIED OR REGISTERED MAIL
ADDRESSED TO OR BY PERSONAL DELIVERY IN ACCORDANCE WITH SECTION 10.6. IN THE
ALTERNATIVE, IN ITS DISCRETION, ANY OF THE PARTIES HERETO MAY EFFECT SERVICE
UPON ANY OTHER PARTY IN ANY OTHER FORM OR MANNER PERMITTED BY LAW.

                                       20

<PAGE>

          10.10 Waiver of Provisions. The terms, covenants, representations,
warranties, and conditions of this Agreement may be waived only by a written
instrument executed by the Person waiving compliance. The failure of Buyer,
Bastet or Stockholder at any time or times to require performance of any
provision of this Agreement shall in no manner affect the right at a later date
to enforce the same. No waiver by Buyer, Bastet or Stockholder of any condition
or the breach of any provision, term, covenant, representation, or warranty
contained in this Agreement, whether by conduct or otherwise, in any one or more
instances, shall be deemed to be or construed as a further or continuing waiver
of any such condition or of the breach of any other provision, term, covenant,
representation, or warranty of this Agreement.

          10.11 Counterparts. This Agreement may be executed in two (2) or more
counterparts, and all counterparts so executed shall constitute one (1)
agreement binding on all of the parties hereto, notwithstanding that all the
parties hereto are not signatory to the same counterpart.

          10.12 Entire Agreement/Amendments. This Agreement (including the
Schedules hereto) constitutes the entire agreement among the parties hereto
pertaining to the subject matter hereof and supersedes any and all prior and
contemporaneous agreements, understandings, negotiations, and discussions,
whether oral or written, between them relating to the subject matter hereof. No
amendment or waiver of any provision of this Agreement shall be binding unless
executed in writing by the party to be bound thereby. The parties intend that
this Agreement be in full compliance with all published rules, policies and
orders of the FCC. If the FCC orders that the parties change any term of this
Agreement, then the parties will attempt to do so, consistent with said FCC
order and the overall intent of this Agreement.

          10.13 Access to Books and Records.

               (a) Buyer shall preserve for not less than five (5) years after
     the Closing Date all books and records included in the Station Assets.
     After such five-year period, Buyer will not destroy any books or records
     relating to the conduct of business of the Station prior to the Closing
     unless Buyer first offers to transfer such books and records to Seller at
     no cost to Seller, and if Buyer is requested to do so, Buyer will transfer
     such books or records to Seller.

               (b) After the Closing, Seller will not destroy any books or
     records relating to the conduct of business of the Station prior to the
     Closing Date unless Seller first offers to transfer such books and records
     to Buyer, and if Seller is requested to do so, Seller will transfer such
     books or records to Buyer.

               (c) At the request of any other party to this Agreement, Buyer,
     Bastet and Stockholder will permit each other (including such other party's
     officers, employees, accountants, and counsel) any access, upon reasonable
     prior written notice during normal business hours, to all of its property,
     accounts, books, contracts, records, accounts payable and receivable,
     records of employees, FCC logs and other information concerning the affairs

                                       21

<PAGE>

     or operation of the Station as such other party to this Agreement may
     reasonably request for any reasonable purpose, and to make extracts or
     copies from the foregoing at the requesting party's expense.

          10.14 Public Announcements. Prior to the Closing, no party to this
Agreement shall, except by mutual agreement with all other parties to this
Agreement (including agreement as to content, text and method or distribution or
release), make any press release or other public announcement or disclosure
concerning the transactions contemplated by this Agreement, except as may be
required by any Legal Requirement (including, without limitation, filings and
reports required to be made with or pursuant to the rules of the Securities and
Exchange Commission); provided that, prior to making any such announcement or
disclosure required by any Legal Requirement, to the extent practicable, the
disclosing Person gives each other party to this Agreement prior written notice
of the context, text and content of, the method of distribution or release of,
and all other material facts concerning, such disclosure. After the Closing,
neither Bastet nor Stockholder will, except with Buyer's prior written consent
(including agreement as to content, text and method or distribution or release),
make any press release or other public announcement or disclosure concerning the
transactions contemplated by this Agreement, except as may be required by any
Legal Requirement (including, without limitation, filings and reports required
to be made with or pursuant to the rules of the Securities and Exchange
Commission); provided that, prior to making any such announcement or disclosure
required by any Legal Requirement, to the extent practicable, Bastet or
Stockholder (as the case may be) gives Buyer prior written notice of the
context, text and content of, the method of distribution or release of, and all
other material facts concerning, such disclosure.

          10.15 Definitional Provisions.

               (a) Terms Defined in Appendix. Each capitalized term which is
     used and not otherwise defined in this Agreement or any Schedule to this
     Agreement has the meaning which is specified for such term in the Appendix
     which is attached to this Agreement.

               (b) Gender and Number. Words used in this Agreement, regardless
     of the gender and number specifically used, will be deemed and construed to
     include any other gender, masculine, feminine or neuter, and any other
     number, singular or plural, as the context requires.

          10.16 Arbitration.

               (a) Generally. Buyer, Bastet and Stockholder agree that the
     arbitration procedures described in this Section 10.16 will be the sole and
     exclusive method of resolving and remedying any claim for indemnification
     or other remedy arising under this Agreement (collectively, "Disputes");
     provided that nothing in this Section 10.16 will prohibit a party from
     instituting litigation to enforce any Final Arbitration Award. Buyer,
     Bastet and Stockholder agree that, except as otherwise provided in the
     Commercial Arbitration Rules of the American Arbitration Association as in
     effect from time to time (the

                                       22

<PAGE>

     "AAA Rules"), the arbitration procedures described in this Section 10.16
     and any Final Arbitration Award will be governed by, and will be
     enforceable pursuant to, the Uniform Arbitration Act as in effect in the
     Commonwealth of Massachusetts from time to time. No Person will be entitled
     to claim or recover punitive damages in any such proceeding.

               (b) Notice of Arbitration. If Buyer, Bastet or Stockholder
     asserts that there exists a Dispute, then such Person (the "Disputing
     Person") will give the other party involved in such Dispute a written
     notice setting forth the nature of the asserted Dispute. If the Persons
     giving and receiving such notice (the "Disputing Parties") do not resolve
     any such asserted Dispute prior to the tenth Business Day after such notice
     is given, then either Disputing Party may commence arbitration pursuant to
     this Section 10.16 by giving the other Disputing Party a written notice to
     that effect (an "Arbitration Notice"), setting forth any matters which are
     required to be set forth therein in accordance with the AAA Rules.

               (c) Selection of Arbitrator. The Disputing Parties will attempt
     to select a single arbitrator by mutual agreement. If no such arbitrator is
     selected prior to the twentieth Business Day after the related Arbitration
     Notice is given, then an arbitrator which is experienced in matters of the
     type which are the subject matter of the Dispute will be selected in
     accordance with the AAA Rules.

               (d) Conduct of Arbitration. The arbitration will be conducted
     under the AAA Rules, as modified by any written agreement between the
     Disputing Parties. The arbitrator will conduct the arbitration in a manner
     so that the final result, determination, finding, judgment or award
     determined by the arbitrator (the "Final Arbitration Award") is made or
     rendered as soon as practicable, and the parties will use reasonable
     efforts to cause a Final Arbitration Award to occur not later than the
     sixtieth day after the arbitrator is selected. Any Final Arbitration Award
     will be final and binding upon the Disputing Parties, and there will be no
     appeal from or reexamination of any Final Arbitration Award, except in the
     case of fraud, perjury or evident partiality or misconduct by the
     arbitrator prejudicing the rights of a Disputing Party or to correct
     manifest clerical errors.

               (e) Enforcement. Buyer, Bastet and Stockholder agree that a
     Final Arbitration Award may be enforced in any state or federal court
     having jurisdiction over the subject matter of the related Dispute.

               (f) Expenses. A prevailing party in any arbitration proceeding
     in connection with this Agreement shall be entitled to recover from the
     non-prevailing party its reasonable attorneys' fees and disbursements in
     addition to any damages or other remedies awarded to such prevailing party,
     and the non-prevailing party also will be required to pay all other costs
     and expenses associated with the arbitration; provided that (1) if an
     arbitrator is unable to determine that a party is a prevailing party in any
     such arbitration proceeding, then such costs and expenses will be equitably
     allocated by such arbitrator upon the basis of the outcome of such
     arbitration proceeding, and (2) if such arbitrator is unable to allocate
     such costs and expenses and expenses in such a manner, then the costs and
     expenses of such

                                       23

<PAGE>

     arbitration will be paid in equal amounts by the Disputing parties, and
     each Disputing Party will pay the out-of-pocket expenses incurred by it. As
     part of any Final Arbitration Award, the arbitrator may designate the
     prevailing party for purposes of this Section 10.16. Except as provided in
     the preceding sentences, each party to this Agreement will bear its own
     costs and expenses (including legal fees and disbursements) in connection
     with any such proceeding or submission.

          10.17 Termination of Transfer Restrictions in the Shared Services
Agreement. The parties hereto agree that Section 7 of the Shared Services
Agreement is hereby terminated and that the Shared Services Agreement is hereby
amended and Section 7 thereof is deemed deleted.

                                    * * * * *

                                       24

<PAGE>

          IN WITNESS WHEREOF, the parties have caused this Agreement to be duly
executed by their duly authorized officers, all as of the day and year first
above written.

WITNESS:                                 BASTET BROADCASTING, INC.

[illegible signature]                    By: /s/ David Smith
--------------------------------             -----------------------------------
Name:                                        Name: David Smith
                                             Title: President

WITNESS:
                                         /S/ David Smith
                                         ---------------------------------------
                                         David Smith
[illegible signature]
--------------------------------
Name:

WITNESS:                                 NEXSTAR BROADCASTING OF
                                            NORTHEASTERN PENNSYLVANIA, L.P.

/s/ Shirley Green
--------------------------------         By: Nexstar Broadcasting of
Name: Shirely Green                          Northeastern Pennsylvania GP, Inc.
                                         Its: General Partner

                                         By: /s/ Perry A. Sook
                                             -----------------------------------
                                             Name: Perry A. Sook
                                             Title: President & CEO

<PAGE>

                                    APPENDIX

          The following capitalized terms have the following meaning
when used in this Agreement and the Schedules attached to this Agreement:

          A "Business Day" means any day other than a Saturday, Sunday or other
day upon which banks in Boston, Massachusetts are not open for business.

          "Closing Date" means the date upon which the Closing occurs.

          "Communications Act" means the Communications Act of 1934, as in
effect from time to time.

          With respect to any Contract, a "Consent" means any consent or
approval of any Person other than any party to this Agreement which, in
accordance with the terms of such Contract, is required to be obtained in order
to permit the consummation of the Sale (or, in the case of the Asset Sale, the
Assumption).

          "Contract" means any agreement, lease, arrangement, commitment, or
understanding to which Bastet with respect to the Station is a party.

          "Equity Securities" means (i) any of Bastet's capital stock,
partnership, members, joint venture or other ownership or equity interest,
participation or securities (whether voting or non-voting, whether preferred,
common or otherwise, and including any stock appreciation, contingent interest
or similar right) and (ii) any option, warrant, security or other right
(including debt securities) directly or indirectly convertible into or
exercisable or exchangeable for, or otherwise to acquire directly or indirectly,
any stock, interest, participation or security described in clause (i) above.

          "Existing Station Indebtedness" means the indebtedness (including
interest) of Bastet pursuant to the Credit Agreement dated as of January 5, 1998
among Bastet, various banks, Bank of America National Trust and Savings
Association and BancAmerica Robertson Stephens, as the same may be amended or
modified and as in effect from time to time.

          "FCC" means the Federal Communications Commission or any successor
thereto.

          "FCC Approval Date" means the first day upon which each Required FCC
Consent is effective.

          "Hart-Scott-Rodino Act" means the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as in effect from time to time.

          "Legal Requirements" means the Communications Act, the rules,
regulations and published policies of the FCC, and all other federal, state and
local laws, rules, regulations, ordinances, judgments, orders and decrees.

                                       26

<PAGE>

          "Lien" means any mortgage, pledge, hypothecation, encumbrance, lien
(statutory or otherwise), preference, priority or other security agreement of
any kind or nature whatsoever (including any conditional sale or other title
retention agreement and any lease having substantially the same effect as any of
the foregoing and any assignment or deposit arrangement in the nature of a
security device).

          "Option Expiration Date" means the tenth anniversary of the date of
this Agreement.

          A "Person" means any individual, partnership, joint venture,
corporation, trust, unincorporated association or government or department
thereof.

          A "Required FCC Consent" means any action or order by the FCC granting
its consent to the consummation of a Sale pursuant to this Agreement without any
condition which in the reasonable judgment of Buyer or Seller is adverse to
Buyer or Seller, as the case may be, in any material respect.

          "Transaction Documents" means this Agreement and all other documents
executed and delivered in connection therewith, in each case as in effect from
time to time.

                                       27<PAGE>
                                                                   Exhibit 10.46

                                                                       EXECUTION
                                                                            COPY

                            SHARED SERVICES AGREEMENT

          This Shared Services Agreement (this "Agreement") is entered into as
of January 5, 1998 between Nexstar Broadcasting Group, L.P., a Delaware
limited partnership ("Nexstar"), and Bastet Broadcasting, Inc., a Delaware
corporation ("Bastet"). Nexstar and Bastet are referred to
collectively as the "Parties."

          Pursuant to an Asset Purchase Agreement dated as of July 17, 1997 (the
"Purchase Agreement"), Bastet has agreed to acquire from Nexstar substantially
all of the assets of television station WYOU, Scranton, Pennsylvania ("WYOU"),
and after Bastet consummates that acquisition (the "WYOU Acquisition") Bastet
will own and operate WYOU.

          Nexstar has agreed to acquire from a third party substantially all of
the assets of television station WBRE, Wilkes-Barre, Pennsylvania ("WBRE"), and
after Nexstar consummates that acquisition (together with the WYOU Acquisition,
the "Acquisitions") Nexstar will own and operate WBRE.

          WYOU and WBRE are collectively referred to as the "Stations."

          For their mutual benefit and in order to enhance the respective
abilities of Nexstar and Bastet to compete with other television and media
outlets serving in the Scranton/Wilkes-Barre, Pennsylvania market after the
Acquisitions, Nexstar and Bastet agree as follows:

          1. SHARING ARRANGEMENTS GENERALLY. From time to time, Nexstar and
Bastet may agree to share the costs of certain services and procurements which
they individually require in connection with the ownership and operation of the
respective Stations which they will own after the Acquisitions. Such sharing
arrangements may take the form of joint or co-operative buying arrangements, or
the performance of certain functions relating to the operation of one Station by
employees of the owner and operator of the other Station (subject in all events
to the supervision and control of personnel of the owner and operator of the
Station to which such functions relate), or may be otherwise structured, and
will be governed by terms and conditions upon which Bastet and Nexstar may agree
from time to time. Such sharing arrangements may include the co-location of the
studio, non-managerial administrative and/or master control and technical
facilities of the Stations and the sharing of groundskeeping, maintenance,
security and other services relating to those facilities. In performing services
under any such sharing arrangement (including those described in Section 4),
personnel of one Party will be afforded access to, and have the right to
utilize, without charge, assets and properties of the other Party to the extent
necessary or desirable in the performance of such services.

          2.  CERTAIN SERVICES NOT TO BE SHARED.

          (a) Senior Management Personnel. At all times after the Acquisitions,
each

                                      -1-

<PAGE>

          2. CERTAIN SERVICES NOT TO BE SHARED.

          (a) Senior Management Personnel. At all times after the Acquisitions,
each Station will have a general manager, a chief engineer and a business
manager, each of whom will be retained solely by the Party which owns and
operates such Station and will report solely to such Party, and each of whom
will have no involvement or responsibility in respect of the operation of the
other Station.

          (b) Programming and Sales. Each Party will maintain for the Station
owned and operated by it separate managerial and other personnel to carry out
the selection and procurement of programming for such Station and the pricing
and selling of commercial and advertising time on such Station, and in no event
will the Parties or the Stations share services, personnel or information
pertaining to such matters. Each Party will in all events have the exclusive
right to sell advertising and commercial time on the Station owned and operated
by it and all revenue from such sales.

          (c) Master Control. Each Party will retain its own master control
operators and related personnel who will perform master control for the Station
owned and operated by such Party.

          3. GENERAL PRINCIPLES GOVERNING SHARING ARRANGEMENTS. All arrangements
made as contemplated by this Agreement will be subject to, and are intended to
comply in all respects with, the Communications Act of 1934, as amended, the
rules, regulations and policies of the Federal Communications Commission (the
"FCC"), as in effect from time to time (the "FCC Rules and Regulations"), and
all other applicable laws. The arrangements made pursuant to this Agreement will
not be deemed to constitute "joint sales," "program services," "time brokerage,"
"local marketing" or similar arrangements or a partnership or joint venture
between the Parties or the Stations, and no such arrangement will be deemed to
give either Party any right to control the policies, operations, management or
any other matter relating to the Station owned and operated by the other Party.

          4. CERTAIN SPECIFIC SHARING ARRANGEMENTS. In furtherance of the
general agreements set forth in Sections 1 through 3 above, Nexstar and Bastet
have agreed as follows with respect to the sharing of certain services after the
Acquisitions:

          (a) Execution of Promotional Policies. Each Party will retain its own
personnel who will be responsible for developing the separate promotional policy
to be employed for such Station from time to time, and the development of such
separate policies will not be shared by the Parties. Nexstar personnel will
implement and execute the promotional policy developed by Nexstar personnel for
WBRE from time to time. Subject to direction and control by Bastet personnel,
Nexstar personnel will also implement and execute the promotional policy
developed by Bastet personnel for WYOU from time to time. Such implementation
and execution will include such tasks as graphic design, production and media
placement and buying.

          (b) Continuity and Traffic Support. Each Party will retain its own
personnel who will be responsible for and perform for the Station owned and
operated by such Party the functions typically performed by the "traffic"
manager of a television station. Nexstar personnel will

                                      -2-

<PAGE>

carry out continuity and other tasks necessary to support such manager and
functions for WBRE. Subject to direction and control by such management
personnel of Bastet, Nexstar personnel will also carry out continuity and such
other tasks with respect to WYOU.

          (c) Collections and Payables Support. Nexstar personnel will perform
the tasks associated with the collection and application of proceeds of
Nexstar's accounts receivable and the payment of Nexstar's accounts payable with
respect to WBRE. Subject to direction and control by the business manager of
WYOU, Nexstar personnel will also perform the tasks associated with the
collection and application of proceeds of Bastet's accounts receivable and the
payment of Bastet's accounts payable with respect to WYOU; provided that such
Nexstar personnel will not perform any tasks relating to the billing of
purchasers of advertising or commercial time on WYOU, the payment of accounts
payable of Bastet arising under contracts for the license of programming run or
to be run on WYOU, or the payment of Bastet's payroll with respect to WYOU.

          (d) Transmission Facilities Maintenance. Nexstar personnel will
maintain and repair (as needed) the transmission facilities of WBRE. Subject to
direction and control by the chief engineer of WYOU, Nexstar personnel will also
maintain and repair (as needed) the transmission facilities of WYOU.

          (e) Newscast Production.

               (i) Production and Delivery. Utilizing WBRE's personnel and
          facilities, Nexstar will provide live-feed, fully-staffed and produced
          newscasts for broadcast on WYOU at such times as Bastet may request
          from time to time by reasonable advance notice to Nexstar; provided
          that such newscasts will not comprise more than 15% (by duration) of
          the programming broadcast on WYOU during any broadcast day. Nexstar
          will be responsible for delivering such newscasts to WYOU's broadcast
          facilities by microwave, fiber-optic or other suitable signal. Nexstar
          will use reasonable efforts to provide that such newscasts are of a
          quality appropriate to WYOU's market. Such newscasts will be produced
          exclusively for Bastet for broadcast on WYOU, but may include
          non-exclusive videotape, graphics, news stories, field reports and
          other material. Bastet personnel will determine the title and format
          of such newscasts, and such newscasts will have an "on-air appearance"
          as if they had been originated by Bastet through WYOU.

               (ii) Commercial, Advertising and Promotional Spots. Bastet will
          determine the amount of such commercial, advertising time and
          promotional time to be provided for during such newscasts. Bastet will
          have the exclusive right to sell commercial and advertising time
          during such newscasts and will retain all revenue from the sale of
          such commercial and advertising time.

               (iii) Editorial Control and Responsibility. Nexstar will use
          reasonable efforts to maintain a system of editorial review to ensure
          the accuracy, prior to broadcast, of all investigative reports and
          other stories prepared by Nexstar personnel and included in the
          newscasts which Nexstar provides to Bastet. Nexstar will
          indemnify,defend and hold harmless Bastet from any and all demands,
          claims, actions or causes of action, losses,

                                      -3-

<PAGE>

          damages and liabilities, costs and expenses, including reasonable
          attorneys' fees, incurred by Bastet as a result of the violation or
          breach of any third parties' rights as a result of the provision of
          any news content provided by Nexstar or its employees in such
          newscasts. Bastet will indemnify, defend and hold harmless Nexstar
          from any and all demands, claims, actions or causes of action, losses,
          damages and liabilities, costs and expenses, including reasonable
          attorneys' fees, incurred by Nexstar as a result of the violation or
          breach of any third parties' rights as a result of the provision of
          the content (if any) provided by Bastet or its employees, or any
          variation by Bastet or its employees of any content provided by
          Nexstar, in such newscasts. Each Party will maintain the following
          types of insurance coverage for no less than the indicated amounts and
          will deliver to the other Party upon request a certificate of
          insurance showing the following: (A) comprehensive general liability
          insurance in an amount of $1,000,000; (B) worker's compensation and/or
          disability insurance; and (C) libel/defamation/First Amendment
          liability insurance, with a deductible of no more than $100,000, as to
          which coverage each Party will name the other party as an additionally
          insured.

               (iv) CBS News Feeds. Subject to Nexstar, Bastet and CBS Network
          News entering into a news sharing agreement in form and substance
          agreeable to the parties thereto, Nexstar will be free to utilize, at
          its discretion, the CBS Network News feed footage in the newscasts it
          produces for WYOU.

               (v) Operating Conditions Agreement. Nexstar and Bastet will
          collaborate to create a newscast operating conditions agreement or
          procedural memo which will provide the basis for daily operations,
          contingencies, WYOU's access to breaking stories, procedures for
          editorial compliance with FCC Rules and Regulations (including
          quarterly programs/issues requirements), regularly scheduled
          operations, editorial and ratings reviews and guidelines for access by
          Bastet personnel and WYOU customers to Nexstar's news studios.

          (f) Services Fee. In consideration for the services to be provided to
WYOU by Nexstar personnel as described in Sections 4(a) through 4(e), Bastet
will pay to Nexstar the fee (the "Services Fee") described in this Section 4(f).

               (i) Base Amount. Subject to the remaining provisions of this
          Section 4(f), the base amount of the Services Fee during any calendar
          year will be (i) $3,000,000 per annum, in the case of the calendar
          year during which the Acquisitions occur and, if the Acquisitions
          occur during 1997, then also during 1998, and (ii) 110% of the base
          amount of the Services Fee during the preceding year (without regard
          to any waiver of the Services Fee for such preceding year pursuant to
          Section 4(f)(iii)), in the case of each subsequent year.

               (ii) Payment Terms. The Services Fee will be payable monthly, in
          arrears, in equal installments during each calendar year from and
          after the month during which the Acquisitions occur, and will be
          prorated on a daily basis for the calendar year

                                      -4-

<PAGE>

          during which the Acquisitions occur and the calendar year during which
          the sharing arrangements described in Sections 4(a) through 4(e) are
          terminated.

               (iii) Waiver. Payment and accrual of the Services Fee in respect
          of any calendar year (or partial calendar year, in the case of the
          calendar years during which the sharing of services described in
          Sections 4(a) through 4(e) commence and cease) will be waived to the
          extent that the amount of the Services Fee which otherwise would be
          payable for such period would exceed WYOU's Available Cash Flow (as
          that term is defined in Section 4(f)(iv)) for such period; provided
          that an amount equal to the amount so waived in respect of any
          calendar year or partial calendar year will be added to the base
          amount of the Services Fee for the following calendar year or partial
          calendar year. In addition, the entire amount of the Services Fee
          which has accrued and is unpaid as of the Cessation Date (as that term
          is defined in Section 6) will be waived.

               (iv) Available Cash Flow Defined. For any period, WYOU's
          "Available Cash Flow" means Bastet's broadcast cash flow in respect of
          WYOU for such period (determined with deduction for the Services Fee),
          reduced by the following, without duplication:

                                    (A) the aggregate amount of cash paid by
                  Bastet in respect of reasonable capital expenditures relating
                  to WYOU during such period,

                                    (B) the aggregate amount of all cash
                  payments required to be made by Bastet during such period in
                  respect of the principal amount of, and interest on,
                  indebtedness of Bastet for borrowed money incurred in respect
                  of WYOU, and

                                    (C) the aggregate amount of all cash
                  payments made by Bastet during such period in respect of
                  federal, state and local taxes,

          in each case to the extent not reflected in such broadcast cash flow
          for such period or any prior period, and increased or reduced as
          Bastet and Nexstar may reasonably agree is appropriate in light of the
          reduction or increase in the non-cash net working capital of Bastet in
          respect of WYOU during such period.

          5. FORCE MAJEURE. If a force majeure event such a strike, labor
dispute, fire, floor or other act of God, failure or delay of technical
equipment, war, public disaster, or action of the FCC or other reason beyond the
cause or control of Nexstar or Bastet prevents such Party or its personnel from
performing tasks which it is required to perform under this Agreement during any
period of time, then such failure will not be a breach of this Agreement and
such Party will be excused from such performance during that time.

          6. TERM OF SHARING ARRANGEMENTS. The initial term of this Agreement is
ten (10) years. Unless otherwise terminated by either Party, the term of this
Agreement shall be extended for an additional ten (10) year term. Either Party
may terminate this Agreement at the end of the initial ten year term by six
months prior written notice to the other. Notwithstanding

                                      -5-

<PAGE>

the foregoing, the sharing arrangements contemplated by this Agreement will
terminate upon the consummation of the purchase and sale of assets of Bastet
relating to WYOU (i) pursuant to the terms of Section 7(b) or any option
agreement referred to in Section 7 and (ii) at Nexstar's option, pursuant to the
terms of Section 7(c) (in either case, the date upon which such purchase and
sale is consummated being the "Cessation Date"). Except as provided in Section
4(f)(iii), no termination of this Agreement, whether pursuant to this Section 6
or otherwise, will affect the Company's duty to pay any Services Fee accrued, or
to reimburse any cost or expense incurred, prior to the effective date of that
termination.

        7. RIGHT OF FIRST REFUSAL; SALE OF WYOU.

          (a) Transfers. David S. Smith ("Smith") shall not sell, transfer,
assign, pledge or otherwise dispose of (whether with or without consideration
and whether voluntarily or involuntarily or by operation of law) any interest in
his shares (the "Shares") of stock of Bastet (a "Transfer"), except pursuant to
the provisions of this Section 7. Bastet shall not sell, transfer, assign,
pledge or otherwise dispose of (whether with or without consideration and
whether voluntarily or involuntarily or by operation of law) any interest in all
or any material portion of the assets of WYOU (whether by one transaction or a
series of transactions) (also, a "Transfer"), except pursuant to the provisions
of this Section 7. Neither Bastet nor Smith shall consummate or agree to
consummate any Transfer until 30 days after the delivery to Nexstar of Bastet's
or Smith's, as the case may be, written notice (the "Sale Notice"), unless the
parties to the Transfer have been finally determined pursuant to this Section 7
prior to the expiration of such 30-day period (the "Election Period"). The Sale
Notice shall disclose in reasonable detail the identity of the proposed
transferee(s), the assets or shares to be Transferred, the terms and conditions
of the proposed Transfer and the aggregate purchase price (the "Transfer Price")
to be paid to Smith or Bastet, as the case may be. Smith shall not Transfer less
than all of his Shares in any single transaction.

          (b) First Refusal Rights. Nexstar may elect to purchase the assets
or Shares of Bastet or Smith, respectively, to be Transferred upon the same
terms and conditions as those set forth in the Sale Notice (or at a cash
equivalent price) by delivering a written notice of such election to Bastet or
Smith, as the case may be, during the Election Period. If Nexstar has so not
elected to purchase the assets or Shares to be Transferred, Smith or Bastet, as
the case may be, may Transfer the assets or Shares specified in the Sale Notice,
subject to the provisions of Section 7(c) below, to the proposed transferee(s)
named in the Sale Notice at a price and on the other terms and conditions no
more favorable to the transferee(s) thereof than those specified in the Sale
Notice during the 120-day period immediately following the Election Period;
provided that such 120-day period shall be extended to permit the parties to
such Transfer a reasonable period to obtain any required consent or approval of
the FCC, so long as such parties are using reasonably diligent efforts to obtain
such approval, and shall end on the earliest of (w) the tenth business day after
such consent or approval has been granted, (x) the date upon which any such
party ceases to use such efforts, (y) the date upon any denial of such consent
or approval becomes a final order, and (z) the 360th day after the end of the
Election Period. Any assets or Shares not Transferred within such 120-day (or
extended) period shall be subject to the provisions of this Section 7 upon
subsequent Transfer. If Nexstar (or an assignee of Nexstar) has elected to
purchase any assets or Shares hereunder, the transfer of such assets or Shares
shall be consummated as soon as practical after the delivery of the election
notice

                                      -6-

<PAGE>

to Bastet or Smith, as the case may be, but in any event within 120 days after
the expiration of the Election Period; provided that such 120-day period shall
be extended to permit the parties to such Transfer a reasonable period to obtain
any required consent or approval of the FCC, so long as such parties are using
reasonably diligent efforts to obtain such approval, and shall end on the
earliest of (w) the tenth business day after such consent or approval has been
granted, (x) the date upon which any such party ceases to use such efforts, (y)
the date upon any denial of such consent or approval becomes a final order, and
(z) the 360th day after the end of the Election Period. If Nexstar (or any
assignee thereof) elects to purchase any assets or Shares hereunder, then each
of Nexstar (or such assignee), Bastet and Smith will use reasonably diligent
efforts to obtain any consent or approval described in the foregoing proviso,
including promptly making all required filings and applications therefor and
furnishing to the FCC all information and undertakings which may reasonably be
requested in connection therewith.

          (c) Payment Upon Transfer. If Bastet or Smith makes a Transfer to a
person or entity other than Nexstar (or an assignee thereof) pursuant to this
Section 7 and Nexstar elects to terminate this Agreement (which election it may
make in its sole discretion upon consummation of the proposed Transfer in
question), then upon consummation of such Transfer, Bastet or Smith, as the case
may be, shall pay to Nexstar the greater of (i) 95% of the amount by which the
Transfer Price exceeds the Cash Purchase Price (as such term is defined in the
Purchase Agreement and plus or minus any adjustments made pursuant to Section
1.4 and Article VII of the Purchase Agreement), and (ii) $12,000,000.

          (d) Term. Bastet and Smith shall remain subject to the terms of this
Section 7 until the earlier of (i) ten (10) years from the date hereof, or (ii)
the date upon which Bastet and Nexstar enter into an option agreement granting
Nexstar an option to acquire the assets of WYOU on terms mutually agreeable to
both Parties.

          8. AMENDMENT AND WAIVER. This Agreement may be amended and any
provision of this Agreement may be waived; provided that any such amendment or
waiver will be binding upon a Party only if such amendment or waiver is set
forth in a writing executed by such Party.

          9. NOTICES. All notices, demands and other communications given or
delivered under this Agreement will be in writing and will be deemed to have
been given when personally delivered or delivered by express courier service.
Notices, demands and communications to Nexstar or Bastet will, unless another
address is specified in writing, be sent to the address indicated below:

                  to Bastet:
                  ---------

                           Bastet Broadcasting, Inc.
                           806 South Cassingham Road
                           Bexley, OH 43209
                           Attention:  David Smith

                                      -7-

<PAGE>

                  to Nexstar:
                  ----------

                           Nexstar Broadcasting Group, L.P.
                           200 Abington Executive Park
                           Suite 201
                           Clarks Summit, PA  18411
                           Attention:  Perry A. Sook

          10. BINDING AGREEMENT; ASSIGNMENT. This Agreement and all of the
provisions hereof will be binding upon and inure to the benefit of the Parties
and their respective successors and permitted assigns; provided that neither
this Agreement nor any of the rights, interests or obligations hereunder may be
assigned by one Party without the prior written consent of the other Party,
except that Nexstar may assign its rights under Section 7 to any person or
entity without Bastet's or Smith's prior written consent.

          11. SEVERABILITY. Whenever possible, each provision of this Agreement
will be interpreted in such a manner as to be effective and valid under
applicable law, but if any provision of this Agreement is held to be prohibited
by or invalid under applicable law, such provision will be ineffective only to
the extent of such prohibition or invalidity, without invalidating the remainder
of such provisions or the remaining provisions of this Agreement.

          12. NO STRICT CONSTRUCTION. The language used in this Agreement will
be deemed to be the language chosen by the Parties to express their mutual
intent. In the event an ambiguity or question of intent or interpretation
arises, this Agreement will be construed as if drafted jointly by the Parties,
and no presumption or burden of proof will arise favoring or disfavoring any
Person by virtue of the authorship of any of the provisions of this Agreement.

          13. CAPTIONS. The captions used in this Agreement are for convenience
of reference only, do not constitute a part of this Agreement and will not be
deemed to limit, characterize or in any way affect any provision of this
Agreement, and all provisions of this Agreement will be enforced and construed
as if no caption had been used in this Agreement.

          14. ENTIRE AGREEMENT. This Agreement and the documents referred to
herein contain the entire agreement between the Parties and supersede any prior
understandings, agreements or representations by or between the Parties, written
or oral, which may have related to the subject matter hereof in any way.

          15. COUNTERPARTS. This Agreement may be executed in one or more
counterparts, each of which will be deemed an original but all of which taken
together will constitute one and the same instrument.

          16. GOVERNING LAW. All questions concerning the construction, validity
and interpretation of this Agreement will be governed by and construed in
accordance with the internal laws of the Commonwealth of Pennsylvania, without
giving effect to any choice of law or conflict of law provision (whether of the
Commonwealth of Pennsylvania or any other jurisdiction)

                                      -8-

<PAGE>

that would cause the application of the laws of any jurisdiction other than the
Commonwealth of Pennsylvania. In furtherance of the foregoing, the internal law
of the Commonwealth of Pennsylvania will control the interpretation and
construction of this Agreement (and all schedules and exhibits hereto), even if
under that jurisdiction's choice of law or conflict of law analysis, the
substantive law of some other jurisdiction would ordinarily apply.

          17. PARTIES IN INTEREST. Nothing in this Agreement, express or
implied, is intended to confer on any Person other than the Parties and their
respective permitted successors and assigns any rights or remedies under or by
virtue of this Agreement.

          18. WAIVER OF JURY TRIAL. AS A SPECIFICALLY BARGAINED INDUCEMENT FOR
EACH OF THE PARTIES TO ENTER INTO THIS AGREEMENT (EACH PARTY HAVING HAD
OPPORTUNITY TO CONSULT COUNSEL), EACH PARTY EXPRESSLY WAIVES THE RIGHT TO TRIAL
BY JURY IN ANY LAWSUIT OR PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREIN.

          19. OTHER DEFINITIONAL PROVISIONS. The terms "hereof," "herein" and
"hereunder" and terms of similar import will refer to this Agreement as a whole
and not to any particular provision of this Agreement. Section, references
contained in this Agreement are references to Sections, in this Agreement,
unless otherwise specified. Each defined term used in this Agreement has a
comparable meaning when used in its plural or singular form. Each
gender-specific term used in this Agreement has a comparable meaning whether
used in a masculine, feminine or gender-neutral form. Whenever the term
"including" is used in this Agreement (whether or not that term is followed by
the phrase "but not limited to" or "without limitation" or words of similar
effect) in connection with a listing of items within a particular
classification, that listing will be interpreted to be illustrative only and
will not be interpreted as a limitation on, or an exclusive listing of, the
items within that classification.

                                     * * * *

                                      -9-

<PAGE>

          IN WITNESS WHEREOF, the Parties have executed this Shared Services
Agreement as of the date first written above.

                                        BASTET BROADCASTING, INC.

                                              /s/ David S. Smith
                                        By: ----------------------
                                            Name:  David S. Smith
                                            Title: President

                                        NEXSTAR BROADCASTING GROUP, L.P.

                                        By: Nexstar Broadcasting of Northeastern
                                            Pennsylvania GP, Inc.
                                        Its: General Partner

                                               /s/ Perry A. Sook
                                        By: ----------------------
                                            Name: Perry A. Sook
                                            Title:  President, CEO

The undersigned, being the sole stockholder
of Bastet, hereby agrees to be bound
by the provisions of Section 7 hereof:

  /s/ David S. Smith
----------------------
    David S. Smith

                                      -10-

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