Document:

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                                                                   Exhibit 10.27

                            STOCK PURCHASE AGREEMENT

                                      among

                          CRAIG WIRELESS HONOLULU INC.,

                           CRAIG WIRELESS NEVADA INC.,

                          CRAIG WIRELESS SYSTEMS INC.,

                                       and

                          FIXED WIRELESS HOLDINGS, LLC

                         Dated as of September 30, 2004

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                                TABLE OF CONTENTS

<TABLE>
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<S>                                                                         <C>
ARTICLE 1 DEFINITIONS ...................................................     1
ARTICLE 2 PURCHASE AND SALE OF SHARES ...................................     7
   Section 2.1     Purchase and Sale of the Shares ......................     7
   Section 2.2     Purchase Price .......................................     7
   Section 2.3     Payment of Purchase Price ............................     7
   Section 2.4     Closing ..............................................     7
ARTICLE 3 REPRESENTATIONS AND WARRANTIES REGARDING THE COMPANY ..........     7
   Section 3.1     Organization and Power; Subsidiaries and
                   Investments ..........................................     7
   Section 3.2     Authorization; Enforceability ........................     8
   Section 3.3     Capitalization. ......................................     8
   Section 3.4     No Breach ............................................     9
   Section 3.5     No Conflict of Interest ..............................     9
   Section 3.6     Financial Statements .................................    10
   Section 3.7     FCC Matters. .........................................    10
   Section 3.8     Leases ...............................................    12
   Section 3.9     Tower Leases. ........................................    12
   Section 3.11    Brokers ..............................................    14
   Section 3.12    Litigation; Proceedings ..............................    14
   Section 3.13    Tax Returns and Payments .............................    14
   Section 3.14    Environmental Protections ............................    15
   Section 3.15    Disclosure ...........................................    16
   Section 3.16    Purchaser's Acknowledgement ..........................    16
ARTICLE 4 ...............................................................    17
REPRESENTATIONS AND WARRANTIES OF EACH RELATED PARTY ....................    17
   Section 4.1     Authorization of Transactions ........................    17
   Section 4.2     Absence of Conflicts .................................    17
   Section 4.3     Litigation ...........................................    17
ARTICLE 5 REPRESENTATIONS AND WARRANTIES OF PURCHASER ...................    17
   Section 5.1     Organization and Power ...............................    17
   Section 5.2     Authorization; Enforceability ........................    18
   Section 5.3     Absence of Conflicts .................................    18
   Section 5.4     Litigation ...........................................    18
   Section 5.5     Brokers ..............................................    18
ARTICLE 6 COVENANTS AND OTHER AGREEMENTS ................................    18
   Section 6.1     Covenants of Seller ..................................    18
   Section 6.2     Exclusivity ..........................................    19
   Section 6.3     Consummation of Transactions .........................    19
</TABLE>

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<TABLE>
<S>                                                                         <C>
   Section 6.4     Compliance with Law ..................................    20
   Section 6.5     Certain Notices ......................................    20
   Section 6.6     Confidentiality ......................................    20
   Section 6.7     Further Assurances ...................................    21
   Section 6.8     FCC Qualifications ...................................    21
   Section 6.9     Consents .............................................    21
   Section 6.10    Employee Matters .....................................    21
   Section 6.11    U.S. Reorganization ..................................    21
   Section 6.12    Assumed Liabilities ..................................    22
   Section 6.13    Change of Name .......................................    22
   Section 6.14    Canadian Reorganization ..............................    22
ARTICLE 7 CONDITIONS TO CLOSING .........................................    22
   Section 7.1     Conditions to the Obligations of Both Parties ........    22
   Section 7.2     Conditions to the Obligations of Seller ..............    23
   Section 7.3     Conditions to the Obligations of Purchaser ...........    23
ARTICLE 8 ...............................................................    24
TERMINATION .............................................................    24
   Section 8.1     Termination ..........................................    24
   Section 8.2     Effect of Termination ................................    25
ARTICLE 9 SURVIVAL AND REMEDIES .........................................    25
   Section 9.1     Survival .............................................    25
   Section 9.2     Seller Indemnification ...............................    25
   Section 9.3     Purchaser Indemnification ............................    27
   Section 9.4     Tax Matters. .........................................    27
   Section 9.5     Indemnification Procedures ...........................    29
   Section 9.6     Offset Against Equipment Lease Agreement Obligation. .    30
ARTICLE 10 MISCELLANEOUS ................................................    30
   Section 10.1    Entire Agreement .....................................    30
   Section 10.2    Amendments and Waivers ...............................    30
   Section 10.3    Remedies Cumulative ..................................    30
   Section 10.4    Assignment ...........................................    30
   Section 10.5    Notices ..............................................    30
   Section 10.6    Governing Law; Jurisdiction; Waiver of Jury Trial. ...    31
   Section 10.7    Expenses .............................................    32
   Section 10.8    Invalidity ...........................................    32
   Section 10.9    Counterparts .........................................    32
   Section 10.10   Headings .............................................    32
</TABLE>

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                             SCHEDULES AND EXHIBITS

Exhibit A - Canadian Reorganization

Schedule A      - Leases
Schedule B      - Tower Sites
Schedule 3.3    - Capitalization
Schedule 3.4    - No Breach
Schedule 3.5    - No Conflict
Schedule 3.7(a) - Licenses and Leases
Schedule 3.7(b) - Applications
Schedule 3.7(c) - Claims
Schedule 3.7(d) - Interference
Schedule 3.8    - Leases
Schedule 3.9    - Tower Leases
Schedule 3.10   - Agreements
Schedule 3.14   - Environmental Protections
Schedule 6.12   - Assumed Liabilities

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                            STOCK PURCHASE AGREEMENT

     STOCK PURCHASE AGREEMENT, dated as of September 30, 2004 (the "Effective
Date"), by and among Craig Wireless Honolulu Inc., a Hawaii corporation (the
"Company"), Craig Wireless Nevada Inc., a Nevada corporation ("Seller"), Craig
Wireless Systems Inc., a Canadian federal corporation ("CWS"), and Fixed
Wireless Holdings, LLC, a Delaware limited liability company ("Purchaser").
Seller, the Company, CWS and Purchaser may be referred to herein as "Parties" or
each a "Party."

     A. The Company owns and operates a wireless cable system using MMDS and
ITFS channels (each as defined below) to serve the Island of Oahu ("System").

     B. Seller owns all of the issued and outstanding shares of the capital
stock of the Company (the "Shares"). CWS owns all of the outstanding shares of
the capital stock of Seller.

     C. Seller desires to sell to Purchaser (or Purchaser's designee), and
Purchaser desires to acquire from Seller, all of the Shares, all on the terms
and subject to the conditions set forth herein.

     D. Prior to the Closing, the Company intends to sell all its equipment,
settle certain of its accounts payable, terminate its employees and operations
and transfer any excess cash to the Seller and the Buyer acknowledges such
intended actions.

     NOW, THEREFORE, in consideration of the premises and the mutual
representations, warranties, covenants, conditions and agreements hereinafter
set forth, the Parties agree as follows:

                                    ARTICLE 1
                                   DEFINITIONS

     As used in this Agreement, the following terms shall have the meanings set
forth or referenced below:

     "Actual Knowledge" means (i) in the case of Seller, the Company or any
Related Party, the actual knowledge of Boyd Craig and Gord Johannson, without
having made due enquiry (ii) in the case of Purchaser, the actual knowledge of
Noelle Beams without having made due enquiry.

     "Acquisition Proposal" means any offer or proposal for, or any indication
of interest in (i) a merger, consolidation, share exchange, business
combination, reorganization, recapitalization or other similar transaction
involving the Company or (ii) the acquisition, directly or indirectly, of (A) an
interest in the voting securities of the Company or (B) any interest in the
Licenses or Leases, other than the Transactions.

     "Affiliate" means, with respect to any Person, any other Person that,
directly or indirectly, alone or through one or more intermediaries, controls,
is controlled by or is under common control with that Person. For purposes of
this definition, "control" (including the

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terms "controlling" and "controlled") means the power to direct or cause the
direction of the management and policies of a Person, directly or indirectly,
whether through the ownership of securities or partnership or other ownership
interests, by contract or otherwise.

     "Agreement" means this Purchase Agreement and all Exhibits and Schedules
hereto, as amended, supplemented or otherwise modified from time to time in
accordance with the terms hereof.

     "Agreement Regarding Manitoba Operations" means the Agreement Regarding
Manitoba Operations dated on or about the Effective Date, among the Parties to
this Agreement.

     "Ancillary Documents" means the Loan Documents, the Equipment Lease
Agreement, the Investment Documents, and any documents executed or delivered by
a Party pursuant thereto.

     "Assumed Liabilities" is defined in Section 6.12.

     "Balance Sheet" is defined in Section 3.6.

     "Balance Sheet Date" is defined in Section 3.6.

     "Best of the Knowledge" means (i) in the case of Seller, the Company or any
Related Party, the knowledge of Boyd Craig and Gord Johannson, after due enquiry
(ii) in the case of Purchaser, the knowledge of Noelle Beams after due enquiry.

     "Business" means the Company's business of operating the System.

     "Business Day" means any day, other than a Saturday or Sunday, on which
commercial banks and foreign exchange markets are open for business in Seattle,
Washington.

     "Canadian Reorganization" means the steps described in the attached Exhibit
A.

     "Channels" means the ITFS Channels and the MMDS Channels.

     "Claim" is defined in Section 9.5(a).

     "Closing" is defined in Section 2.4.

     "Closing Date" is defined in Section 2.4.

     "Code" means the Internal Revenue Code of 1986, as amended.

     "Company" is defined in the preamble.

     "Confidential Information" means any and all information regarding the
business, finances, operations, products, services, business plans, market
launch schedules, product

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pricing, and customers of either Party or its Affiliates, in written or oral
form or in any other medium.

     "Consents" means all consents and approvals of Governmental Authorities or
other third parties necessary to authorize, approve or permit the Parties hereto
to consummate the Transactions.

     "Damages" means any and all losses, claims, demands, liabilities,
obligations, actions, suits, orders, statutory or regulatory compliance
requirements, or proceedings asserted by any Person, and all damages, costs,
expenses, assessments, judgments, recoveries and deficiencies, including
interest, penalties, investigatory expenses, consultants' fees, and reasonable
attorneys' fees and costs, of every kind and description, contingent or
otherwise.

     "Disclosing Party" is defined in Section 6.6.

     "Effective Date" is defined in the introductory paragraph.

     "Equipment Lease Agreement" means the Equipment Lease Agreement between
Purchaser or its designee and the Joint Venture with respect to the Joint
Venture's lease or use of NextNet Base Station Equipment, in form and substance
satisfactory to Purchaser in its sole discretion.

     "Employees" means the employees of the Company.

     "FCC" means the Federal Communications Commission or any successor agency
thereof.

     "Final Order" means an action or decision of the FCC as to which (i) no
request for a stay or similar request is pending, no stay is in effect, the
action or decision has not been vacated, reversed, set aside, annulled or
suspended and any deadline for filing such request that may be designated by
statute or regulation has passed, (ii) no petition for rehearing or
reconsideration or application for review is pending and the time for the filing
of any such petition or application has passed, (iii) the FCC does not have the
action or decision under reconsideration on its own motion and the time within
which it may effect such reconsideration has passed, and (iv) no appeal is
pending, including other administrative or judicial review, or in effect and any
deadline for filing any such appeal that may be designated by statute or rule
has passed.

     "Financial Statements" is defined in Section 3.6.

     "GAAP" means Generally Accepted Accounting Principles in the United States.

     "Governmental Authority" means a Federal, state or local court,
legislature, governmental agency (including the United States Department of
Justice), commission or regulatory or administrative authority or
instrumentality.

     "Indebtedness" means, with respect to any Person at any date, without
duplication: (i) all obligations of such Person for borrowed money or in respect
of loans or advances;

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(ii) all obligations of such Person evidenced by bonds, debentures, notes or
other similar instruments (including, without limitation, any seller notes,
deferred purchase price obligations or earn-out obligations issued or entered
into in connection with any acquisition undertaken by such Person); (iii) all
obligations in respect of letters of credit, whether or not drawn, and bankers'
acceptances issued for the account of such Person; (iv) all capitalized lease
liabilities of such Person, but not leases characterized as operating leases on
such Person's financial statements; (v) all interest rate protection agreements
of such Person (valued on a market quotation basis); (vi) all obligations of
such Person secured by a contractual lien; (vii) all guarantees of such Person
in connection with any of the foregoing; (viii) all outstanding checks that will
ultimately be funded through such Person's line of credit or other borrowed
money and (ix) any accrued interest, prepayment premiums or penalties related to
any of the foregoing.

     "Indemnification Threshold" is defined in Section 9.5(d).

     "Investment Documents" means the agreements pursuant to which Purchaser, or
Purchaser's designee, acquires an ownership interest in the Joint Venture.

     "ITFS" means Instructional Television Fixed Service to be known as the
Educational broadband Service on the effective date of the FCC's new rules
adopted in Docket 03-66.

     "ITFS Channels" means each channel listed in the ITFS Licenses.

     "ITFS Licenses" means the licenses granted by the FCC authorizing the
construction and operation of ITFS Channels in the markets listed in Schedule
3.7(a), covering the households per ITFS Channel listed therein.

     "Joint Venture" means the entity in which Seller is, or will be, an
investor, that will be used to develop wireless spectrum opportunities in
Manitoba, Canada.

     "Law" means applicable common law and any statute, ordinance, code or other
law, rule, permit, permit condition, regulation, order, decree, technical or
other standard, requirement or procedure enacted, adopted, promulgated, applied
or followed by any Governmental Authority.

     "Leases" means the lease agreements pursuant to which the Company holds the
rights under the ITFS Licenses and which are listed in Schedule A.

     "Licenses" means the the MMDS Licenses and any other FCC authorizations
held by the Company.

     "Liens" means any mortgage, pledge, security interest, conditional sale or
other title retention agreement, encumbrance, lien, easement, option, debt,
charge, claim or restriction of any kind.

     "Loan" is defined in Section 2.3.

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     "Loan Documents" means the Loan Agreement between the Parties and the other
agreements and documents that relate to the Loan and that are referred to in the
Loan Agreement.

     "Material Adverse Effect" means any event, circumstance, change, occurrence
or effect (collectively, "Events") that, individually or taken together with all
other Events, has or would be reasonably anticipated to have in the future a
material and adverse effect upon the assets, liabilities, financial condition,
operating results of the Company.

     "MMDS" means Multipoint Distribution Service to be known as the Broadband
Radio Service upon the effective date of the FCC's new rules adopted in Docket
03-66.

     "MMDS Channels" means each channel listed in the MMDS Licenses.

     "MMDS Licenses" means the licenses granted by the FCC authorizing the
Company to construct and operate MMDS Channels in the markets listed in Schedule
3.7(a), covering the households per MMDS Channel listed therein.

     "NextNet Base Station Equipment" means the equipment identified in the
Equipment Lease Agreement.

     "Noncompete Agreement" means the Noncompete Agreement between the Joint
Venture and Seller, CWS and their Affiliates (the "Noncompete Parties") entered
into in connection with the Joint Venture and the Investment Agreements,
pursuant to which the Noncompete Parties agree not to compete with the business
of the Joint Venture.

     "Party" or "Parties" is defined in the preamble.

     "Person" means any general partnership, limited partnership, limited
liability company, corporation, joint venture, trust, business trust,
Governmental Authority, cooperative, association, individual or other entity,
and the heirs, executors, administrators, legal representatives, successors, and
assigns of such person as the context may require.

     "Pre-Closing Tax Period" is defined in Section 9.4.

     "Proceeding" means any action, suit, litigation, arbitration proceeding
(including any civil, criminal, administrative, investigative or appellate
proceeding), hearing, inquiry, audit, examination or investigation commenced,
brought, conducted or heard by or before, or otherwise involving any court or
other Government Agency or any arbitrator or arbitration panel.

     "Purchase Price" is defined in Section 2.2.

     "Purchaser" is defined in the preamble.

     "Purchaser Indemnified Parties" is defined in Section 9.2.

     "Receiving Party" is defined in Section 6.6.

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     "Rejected Liabilities" is defined in Section 6.12.

     "Related Party" means CWS and, following the execution and delivery of
joinders to this Agreement as contemplated under Section 6.11, each of CWI and
Newco and, subsequent to the Canadian Reorganization, and following the
execution and delivery of a joinder to this Agreement as contemplated under
Section 6.14, means New Holdco as referred to therein.

     "Seller" is defined in the preamble.

     "Seller Indemnified Parties" is defined in 9.3.

     "Shares" is defined in Recital B.

     "System" is defined in Recital A.

     "Taxes" means all taxes, however denominated, including any interest,
penalties or other additions to tax that may become payable in respect thereof,
imposed by any federal, territorial, state, local or foreign government or any
agency or political subdivision of any such government, which taxes shall
include, without limitation, all income or profits taxes (including but not
limited to federal and state income taxes), real property gains taxes, payroll
and employee withholding taxes, unemployment insurance taxes, social security
taxes, sales and use taxes, ad valorem taxes, excise taxes, franchise taxes,
gross receipts taxes, business license taxes, occupation taxes, real and
personal property taxes, stamp taxes, environmental taxes, transfer taxes,
workers' compensation, Pension Benefit Guaranty Corporation premiums, and other
taxes or similar governmental charges.

     "Tower Leases" means the agreements relating to the use by the Company of
Transmission Towers or other transmission equipment (and the embedded software
and intellectual property rights incorporated therein) on the Tower Sites.

     "Tower Sites" means any real property used or occupied by the Company on
which Transmission Towers used by the Company are located, which may include
separate towers, building roof-tops and other locations and which are listed in
Schedule B.

     "Tower Subleases" means the agreements under which the Company is a lessor,
sublessor or licensor of, or makes available for use to any Person, any Tower
Site or portion thereof that is the subject of a Tower Lease.

     "Transmission Towers" means any towers or other "antenna structures" as
defined by the FCC in Part 17 of the FCC Rules.

     "Transactions" means the transactions contemplated by this Agreement and
the Ancillary Documents.

     "U.S. Reorganization" shall mean the transactions described below and any
transaction in furtherance thereof:

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     (a)  Craig Wireless Systems Inc. will incorporate a new subsidiary
          ("Newco") under the Canada Business Corporations Act;

     (b)  CWS will transfer the shares it holds in Craig Wireless Nevada Inc. to
          Newco in exchange for shares of Newco;

     (c)  Craig Wireless International Inc. ("CWI") will transfer the shares it
          holds in SkyCable International Inc. ("SkyCable") to Newco in exchange
          for shares of Newco;

     (d)  Seller and SkyCable will merge; and

     (e)  The proceeds of the sale of the equipment owned by the Company will be
          distributed to Seller.

                                    ARTICLE 2
                           PURCHASE AND SALE OF SHARES

     Section 2.1 Purchase and Sale of the Shares. Subject to the terms and
conditions set forth herein and on the basis of the representations, warranties,
covenants and agreements contained herein, at the Closing, the Seller shall sell
to Purchaser, and Purchaser shall purchase from the Seller, the Shares, free and
clear of all Liens (other than any restrictions under the Securities Act of
1933, as amended).

     Section 2.2 Purchase Price. The purchase price for the Shares shall be Ten
Million Dollars ($10,000,000) (the "Purchase Price").

     Section 2.3 Payment of Purchase Price. The Purchaser is making a loan to
Seller prior to the Closing, in the amount of $10,000,000 (the "Loan"), upon the
terms and subject to the conditions stated in the Loan Documents. The Purchase
Price shall be payable at the Closing by means of a credit against the
outstanding balance of the Loan.

     Section 2.4 Closing. Upon the terms and subject to the conditions hereof,
the closing of the sale of the Shares ("Closing") shall take place at the
offices of Davis Wright Tremaine LLP, 2600 Century Square, 1501 Fourth Avenue,
Seattle, WA 98101, within five (5) Business Days following the date on which the
last condition under Article 7 has been satisfied or waived, or at such other
time and place as the Parties may mutually agree. The date on which Closing
occurs is called the "Closing Date."

                                    ARTICLE 3
              REPRESENTATIONS AND WARRANTIES REGARDING THE COMPANY

     As a material inducement to Purchaser to enter into this Agreement and
purchase the Shares to be purchased by it hereunder, Seller and the Company
represents and warrants to Purchaser that:

     Section 3.1 Organization and Power; Subsidiaries and Investments. Each of
Seller and the Company is a corporation duly organized, validly existing and in
good

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standing under the laws of the jurisdiction of its organization. Hawaii is the
only jurisdiction in which the ownership of properties or the conduct of the
Business requires the Company to be so qualified, except where the failure to be
so qualified would not have a Material Adverse Effect. Seller and the Company
have all requisite power and authority and all licenses, permits and
authorizations necessary to own and operate their respective assets and to carry
on the Business as now conducted. Seller and the Company have all requisite
power and authority to execute and deliver this Agreement and the Ancillary
Documents and to perform their respective obligations hereunder and thereunder.
The Company does not own or control (directly or indirectly) any stock,
partnership interest, joint venture interest, equity participation or other
security or interest in any other Person. The articles of incorporation and
bylaws of the Company that have previously been furnished to Purchaser reflect
all amendments thereto and are correct and complete. The corporate records and
minute books of the Company (complete and up-to-date copies of which were
provided to the Purchaser and its counsel for review) contain complete and
accurate minutes of all meetings of the directors and shareholders of the
Company held since its incorporation, and original signed copies of all
resolutions and by-laws duly passed or confirmed by the directors or
shareholders of the Company other than at a meeting. The stock ledgers and
register of directors and any similar corporate records of the Company are
complete and accurate.

     Section 3.2 Authorization; Enforceability. The execution, delivery and
performance by Seller and the Company of this Agreement, the Ancillary Documents
and each of the Transactions have been duly and validly authorized by Seller and
the Company and, other than the Consents, no other act or proceeding on the part
of Seller and the Company or their boards of directors or stockholders is
necessary to authorize the execution, delivery or performance by Seller and the
Company of this Agreement or any Ancillary Document or the consummation of any
of the Transactions. This Agreement has been duly executed and delivered by
Seller and the Company, and this Agreement constitutes, and the Ancillary
Documents upon execution and delivery by Seller and/or the Company, as
applicable, will each constitute, a valid and binding obligation of Seller
and/or the Company, respectively, enforceable against each in accordance with
its terms, subject to bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium and similar laws of general applicability relating to
or affecting creditors' rights and to general equity principles.

     Section 3.3 Capitalization.

          (a) The attached Schedule 3.3 accurately sets forth the authorized and
outstanding equity of the Company and the name and number of shares held by
Seller as at the Effective Date.

          (b) All of the issued and outstanding shares of the Company (i) have
been duly authorized, are validly issued, fully paid and nonassessable, (ii) are
not subject to, nor were they issued in violation of, any preemptive rights, and
(iii) are owned of record and beneficially by Seller.

          (c) Except for this Agreement and as may be set forth on Schedule 3.3,
there are no outstanding or authorized options, warrants, rights, contracts,
pledges, calls, puts, rights to subscribe, conversion rights or other agreements
or commitments to which the

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Company is a party or which is binding upon the Company providing for the
issuance, disposition or acquisition of any of its equity or any rights or
interests exercisable therefor.

          (d) There are no outstanding or authorized equity appreciation,
phantom stock or similar rights with respect to the Company.

          (e) Except as set forth on Schedule 3.3, there are no voting trusts,
proxies or any other agreements or understandings with respect to the voting of
the equity of the Company.

          (f) The Company is not subject to any obligation (contingent or
otherwise) to repurchase or otherwise acquire or retire any of its equity. At
the Closing, Purchaser shall receive all capital stock of the Company free and
clear of all Liens (other than restrictions on transfer arising under the
Securities Act of 1933, as amended, and state or foreign securities laws and
restrictions on transfer imposed or regulated by the FCC).

          (g) Except as set forth on Schedule 3.3, there are no statutory or
contractual preemptive rights, rights of first refusal or similar rights or
restrictions with respect to the sale of the Shares hereunder.

          (h) The Company has not violated any applicable federal or state
securities laws in connection with the offer, sale or issuance of any of its
capital stock, and the offer and sale of the Shares hereunder does not require
any registration under any applicable federal or state securities laws.

     Section 3.4 No Breach. Except as set forth on Schedule 3.4, the execution,
delivery and performance by Seller and the Company of this Agreement and the
Ancillary Documents and the consummation of each of the Transactions (including,
without limitation, the purchase and sale of the Shares) do not and will not (a)
violate or conflict with any of their respective certificates or articles of
incorporation, bylaws or other organizational documents; (b) violate or conflict
with in any material respect, result in any material breach of, constitute a
default under, result in the termination or acceleration of, create in any party
the right to accelerate, terminate, modify or cancel, or require any notice
under any Lease, License, Tower Lease, Tower Sublease or other agreement listed
on Schedule 3.10; (c) result in the creation or imposition of any Lien upon any
assets or any of the equity of the Company; (d) require any authorization,
consent, approval, exemption or other action by or notice to any court, other
Governmental Authority or other Person or entity, other than the Consent of the
FCC, under the provisions of (i) any Law to or by which the Company or any of
the Company's assets are subject or bound or (ii) any Lease, License, Tower
Lease, Tower Sublease or other agreement listed on Schedule 3.10; or (e) violate
in any material respect any law, statute, regulation, rule, judgment, decree,
order, stipulation, injunction, charge or other restriction of any Governmental
Authority to or by which Seller or the Company or any of their assets are
subject or bound.

     Section 3.5 No Conflict of Interest. Except as set forth in Schedule 3.5,
the Company is not indebted, directly or indirectly, to any of its officers,
directors, stockholders or Employees or to their respective Affiliates, spouses
or children, in any amount whatsoever

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other than in connection with expenses or advances of expenses incurred in the
ordinary course of business or relocation expenses of Employees. None of the
Company's officers, directors, stockholders or any members of their immediate
families are, directly or indirectly, indebted to the Company or have any direct
or indirect ownership interest in any firm or corporation with which the Company
is affiliated or with which the Company has a business relationship, or any firm
or corporation which competes with the Company except that officers, directors
and/or stockholders of the Company may own stock in (but not exceeding two
percent of the outstanding capital stock of) any publicly traded companies that
may compete with the Company. None of the Company's officers, directors or
stockholders or any members of their immediate families are, directly or
indirectly, interested in any material contract with the Company. Except as set
forth on Schedule 3.5, the Company is not a guarantor or indemnitor of any
indebtedness of any other person, firm or corporation.

     Section 3.6 Financial Statements. The Company has provided to Purchaser the
following financial statements ("Financial Statements"): (a) a balance sheet at
December 31, 2003, together with the related statements of operations,
stockholders' equity and cash flows for the fiscal year then ended, and the
report thereon of Deloittes LLP, chartered accountants and (b) an unaudited
balance sheet (the "Balance Sheet") at August 31, 2004 (the "Balance Sheet
Date"), and the related statements of income and cash flows for the twelve
months then ended, prepared by the Company. Such financial statements (i) are in
accordance with the books and records of the Company, (ii) present fairly the
financial condition of the Company at the balance sheet dates and the results of
its operations for the periods therein specified, and (iii) have, in all
material respects, been prepared in accordance with GAAP applied on a basis
consistent with prior accounting periods (except as may be indicated in the
notes thereto and except for, with respect to unaudited financial statements,
the absence of footnotes). Specifically, but not by way of limitation, the
Balance Sheet discloses all of the debts, liabilities and obligations of any
nature (whether absolute, accrued or contingent and whether due or to become
due) of the Company at the Balance Sheet Date which, individually or in the
aggregate, are material and which in accordance with GAAP would be required to
be disclosed in the Balance Sheet. The Balance Sheet includes appropriate
reserves for all Taxes and other liabilities accrued at the Balance Sheet Date
but not yet payable. The Company's books and records are, in all material
respects, maintained in accordance with GAAP. Nothwithstanding the foregoing,
the amounts set forth in the Financial Statements relating to indebtedness owing
to Wellington West promissory notes may not be accurate as they do not take into
account the exchange rate or the interest rate charged on such notes.

     Section 3.7 FCC Matters.

          (a) The information set forth on Schedule 3.7(a) is true, correct, and
complete. True and complete copies of the Licenses and Leases have been
delivered to Purchaser. There is no condition imposed by the FCC as part of any
of the MMDS Licenses, or to the Seller's Actual Knowledge, the ITFS Licenses,
that is neither set forth on the face of the MMDS or ITFS Licenses as issued by
the FCC nor contained in the FCC Rules applicable generally to stations of the
type, nature and class or location of the Station. The Licenses and the ITFS
Licenses, constitute all authorizations from the FCC necessary or required for
and/or used in the operations of the Business as of the Effective Date. The

                                       10

<PAGE>

MMDS Licenses, and to the Seller's Knowledge, the ITFS Licenses, have been
granted to the Company by Final Order and are (and will be on the Closing Date)
in full force and effect.

          (b) Except as set forth on Schedule 3.7(b), no application, action or
proceeding is pending for the modification of the MMDS Licenses, or to the
Seller's Actual Knowledge, the ITFS Licenses. Except for actions or proceedings
affecting MMDS and ITFS facilities generally, no application, action or
proceeding is pending, or to the Actual Knowledge of Seller and the Company,
threatened, against Seller or the MMDS Licenses, the ITFS Licenses or Leases
which could result in (i) the denial of an application for renewal for the MMDS
Licenses, or to the Seller's Actual Knowledge, the ITFS Licenses, (ii)
revocation, forfeiture, non-renewal or suspension of the MMDS Licenses, or to
the Seller's Actual Knowledge, the ITFS Licenses, (iii) issuance of a
cease-and-desist order, or (iv) the imposition of any fines, penalty, damages or
other sanctions by a Governmental Authority relating to the operation of the
MMDS Licenses, or to the Seller's Actual Knowledge, the ITFS Licenses. There are
no facts or circumstances existing that would give rise to any such denial,
revocation, suspension or any proceeding with the FCC or any other Governmental
Authority.

          (c) Except as set forth on Schedule 3.7(c), no Person other than the
Company has any right, title, interest or claim in or to the MMDS Licenses and,
to the Actual Knowledge of the Seller, no person other than the applicable ITFS
licencee and the Company has any right, titles, interest or claim in or to the
ITFS Licenses.

          (d) Except as set forth on Schedule 3.7(d), the Company has not agreed
to accept or allowed any electromagnetic interference from any other FCC
licensees, permittees or applicants with respect to the MMDS Licenses, and to
the Seller's Actual Knowledge, the ITFS Licenses and/or Channels. Except as set
forth on Schedule 3.7(d), no such licensees, permittees or applicants have
agreed to accept electromagnetic interference from the Company with respect to
their respective facilities.

          (e) The Company is in compliance with all applicable Laws except for
any non-compliance that, individually or in the aggregate, will not have a
material adverse effect on the MMDS Licenses, and to the Seller's Actual
Knowledge, the ITFS Licenses, or the Leases, or on Seller's or the Company's
ability to consummate the Transactions. Since the filing of the initial
application for the Licenses, the Company has complied in all material respects
with FCC Laws applicable to the Licenses, including without limitation the
Communication Act of 1934, as amended. Since the issuance of the Licenses, the
Company has complied in all material respects with all of the terms and
conditions of the Licenses. Except as set forth in Schedule 3.7(a), the Licenses
are free and clear of all Liens and are unimpaired by any acts or omissions of
the Company, its agents, assignees and licensees. Except as set forth in
Schedule 3.7(a), all material documents, FCC applications and notifications and
annual reports required to be filed at any time by the Company with the FCC with
respect to the Licenses have been timely filed or the time period for such
filing has not lapsed. All such documents filed since the date that the Licenses
were issued are correct in all material respects. All amounts owed to the FCC in
connection with the Licenses have been timely paid.

                                       11

<PAGE>

          (f) The facilities subject to the Licenses for which certification or
modification of completion of construction has been filed with the FCC are
operating and have been operating, without interruption, except where such
interruption would not be material and would not put the Licenses at any risk
before the FCC, in material compliance with the Licenses therefore and the FCC
Laws. The Company has not deconstructed any station since notifying the FCC that
such station was constructed. The Company is not transmitting from or otherwise
operating any facility that is not the subject of a license of the FCC. None of
the facilities subject to the Licenses, (i) is authorized pursuant to an
authorization which is subject to successful challenge before the FCC or any
court of competent jurisdiction or (ii) is subject to any lease, sublease or any
agreement to make it available to a third party. None of the facilities subject
to the Licenses are operating pursuant to special temporary or developmental
authority. To the Company's Actual Knowledge, the ITFS Licenses are in
compliance with the FCC's educational programming requirements.

     Section 3.8 Leases. The Company has delivered to Purchaser true and
complete copies of the Leases. Except as set forth on Schedule 3.8, the Leases
are in full force and effect, are free from any claims, liabilities or Liens and
are unimpaired by any acts or omissions of the Company, its Affiliates, agents,
assignees and licensees. The Company has valid leasehold interests in the
Leases. Except as set forth on Schedule 3.8, since entering into the Leases, the
Company has complied in all material respects with all of the terms and
conditions of the Leases. Except as set forth on Schedule 3.8, neither the
Company nor, to the Actual Knowledge of Seller and the Company, any other party
to any of the Leases has failed to comply with or is in material breach or
material default thereunder; and, to the Actual Knowledge of Seller and the
Company, no condition exists or event has occurred and is continuing as of the
date hereof and the Closing which, with or without the lapse of time or the
giving of notice, or both, would constitute a material default by any party
under any Lease.

     Section 3.9 Tower Leases.

          (a) Schedule 3.9 sets forth a true and complete list of the following
information in relation to each of the Tower Leases: (i) the market in which the
lease is used, (ii) the expiration date of the lease, (iii) the name of the
lessor, (iv) the antenna structure registration number, (v) the address or
location of the leased premises or Tower Site, and (vi) the monthly, quarterly
or annual rent, as applicable, payable under such Tower Lease. True and complete
copies of the Tower Leases have been provided by the Company to Purchaser. The
Tower Leases set forth on Schedule 3.9 are all of the Tower Leases that are
necessary to use the equipment associated with each Tower Site, and to access
such equipment in connection with such use.

          (b) Except as set forth in Schedule 3.9(b), with respect to the Tower
Leases, (i) each of the Tower Leases is valid, binding on the Company and, to
the Actual Knowledge of Seller and the Company, each other party thereto and in
full force and effect, enforceable by the Company in accordance with its terms;
(ii) except as set forth on Schedule 3.9 and as contemplated by this Agreement,
the Company has not assigned, pledged, transferred, or otherwise disposed of or
granted any Lien on its rights, titles and interests under any of the Tower
Leases to any other Person, nor, to the Actual Knowledge of Seller

                                       12

<PAGE>

and the Company, has any other party to the Tower Leases so assigned, pledged,
transferred, granted any Lien on, or otherwise disposed of any of its rights,
title and interests thereunder; (iii) neither the Company nor, to the Actual
Knowledge of Seller and the Company, any other party to any of the Tower Leases
has failed to comply with or is in material breach or material default
thereunder; and (iv) except as set forth on Schedule 3.9, to the Actual
Knowledge of Seller and the Company, no condition exists or event has occurred
and is continuing as of the date hereof and the Closing which, with or without
the lapse of time or the giving of notice, or both, would constitute a material
default by any party under any Tower Lease.

          (c) There are no Tower Subleases.

          (d) To the Actual Knowledge of Seller and the Company, all of the
Transmission Towers located on the Tower Sites are obstruction-marked and
lighted to the extent required by, and in accordance with, the rules and
regulations of the Federal Aviation Administration (the "FAA") and the FCC
Rules. To the Actual Knowledge of Seller and the Company, appropriate
notification to the FAA and registration with the FCC has been made for each
Transmission Tower located on the Tower Sites and owned, leased or used by
Seller where required by the rules and regulations of the FAA or the FCC Rules,
as applicable.

     Section 3.10 Agreements.(a) Except as set forth in Schedule 3.5, and except
as contemplated by the U.S. Reorganization, there are no agreements,
understandings or proposed transactions between the Company and any of its
officers, directors, Affiliates or any Affiliate thereof.

          (b) Except as set forth on Schedule 3.10, there are no agreements,
understandings, instruments, contracts or proposed transactions to which the
Company is a party or by which it is bound that involve (i) obligations
(contingent or otherwise) of, or payments to, the Company in excess of $10,000,
(ii) the license of any patent, copyright, trade secret or other proprietary
right to or from the Company, (iii) the grant of rights to market, distribute or
sell the Company's services to any other Person or affect the Company's
exclusive right to market, distribute or sell the Company's services, or (iv)
the provision of products or services to customers.

          (c) Except for those agreements described in reasonable detail in
Schedule 3.10, the Company is not a party to or bound by any non-competition
agreement or any other similar agreement or obligation which purports to limit
in any respect the manner in which, or the localities in which, any portion of
the business of the Company, is or may be conducted or which purports to limit
the freedom of the Company to compete in any line of business or with any
Person. Except for those agreements described in reasonable detail in Schedule
3.10, there are no agreements, understandings, instruments or proposed
transactions of the Company in which the Company has granted or offered to any
other Person most-favored-nation or similar preferential pricing with respect to
its products and/or services. Except for those agreements described in
reasonable detail in Schedule 3.10, there are no agreements, understandings,
instruments or proposed transactions of the Company pursuant to which the
Company has granted any other Person an exclusive right to market, distribute or
sell the Company's services.

                                       13

<PAGE>

          (d) The Company is not a party to and is not bound by any contract,
agreement or instrument, or subject to any restriction under its articles of
incorporation or bylaws that contains, to the Actual Knowledge of Seller and the
Company or the Company, terms and conditions more onerous than those usual and
customary in the industry under similar business or market conditions current at
the time and that adversely affects its business as now conducted.

          (e) For the purposes of subsections (b) above, all indebtedness,
liabilities, agreements, understandings, instruments, contracts and proposed
transactions involving the same person or entity (including persons or entities
the Company has reason to believe are affiliated therewith) shall be aggregated
for the purpose of meeting the individual minimum dollar amounts of such
subsections.

     Section 3.11 Brokers. If the Company has engaged a broker in connection
with the Transactions, Seller shall be solely responsible for all fees,
commissions and expenses of such broker in connection with the Transactions.

     Section 3.12 Litigation; Proceedings. Except as disclosed in Schedule 3.12,
there are no Proceedings pending or, to the Actual Knowledge of Seller and the
Company, threatened by or against, or relating to Seller, the Company, any of
their respective assets or the Business, or to or by which Seller, the Company,
any of their respective assets or the Business may be subject or bound, at law
or in equity, and no facts, events or circumstances exist or have occurred which
could result in such an Proceeding following the Closing.

     Section 3.13 Tax Returns and Payments.

     (a) The Company has timely filed all Tax returns and reports as required by
law. These returns and reports are true and correct in all material respects.
The Company has disclosed on its federal income Tax return all positions taken
therein that could give rise to a substantial understatement penalty under Code
Section 6662. Except as disclosed in Schedule 3.13, the Company has paid all
Taxes and other assessments due in a timely manner (whether or not shown on any
Tax return). The Company has never had any Tax deficiency assessed against it
and has not executed any waiver of any statute of limitations on the assessment
or collection of any Tax or governmental charge. None of the Company's federal
income tax returns and none of its state income or franchise tax or sales or use
tax returns has ever been audited by governmental authorities and Seller does
not expect any authority to assess any additional Taxes for any period for which
tax returns have been filed. Since the Balance Sheet Date, the Company has not
incurred any Taxes, assessments or governmental charges other than in the
ordinary course of business and the Company has made adequate provisions on its
books of account for all Taxes, assessments and governmental charges with
respect to its business, properties and operations for such period. The Company
has withheld or collected from each amount paid to any employee, independent
contractor, creditor, stockholder, or other third party, the amount of all Taxes
(including, but not limited to, federal income Taxes, Federal Insurance
Contribution Act Taxes and Federal Unemployment Tax Act Taxes) required to be
withheld or collected therefrom, and has paid the same when due to the proper
tax receiving officers or authorized depositories.

                                       14

<PAGE>

     (b) Each affiliated group of corporations filing consolidated Tax returns
of which the Company is or has been a member ("Affiliated Group") has filed all
income Tax returns that it was required to file for each taxable year during
which the Company was a member of the group. All such Tax Returns were true and
correct in all material respects. All income Taxes owed by any Affiliated Group
(whether or not shown on any Tax return) have been paid for each taxable period
during which the Company was a member of the group The Company is not a party to
or bound by any Tax allocation or Tax sharing agreement. The Company has no
liability for the Taxes of any Person other than the Company (A) under Treasury
Regulation Section 1.1502-6 (or any similar provision of state, local, or
foreign law), (B) as a transferee or successor, (C) by contract, or (D)
otherwise.

     (c) The Company will not be required to include any item of income in, or
exclude any item of deduction from, taxable income for any taxable period (or
portion thereof) ending after the Closing Date as a result of any:

          (i) change in method of accounting for a taxable period ending on or
          prior to the Closing Date;

          (ii) intercompany transaction or excess loss account described in
          Treasury Regulations under Code Section 1502 (or any corresponding or
          similar provision of state, local or foreign income Tax law);

          (iii) installment sale or open transaction disposition made on or
          prior to the Closing Date; or

          (iv) prepaid amount received on or prior to the Closing Date.

     (d) Seller has delivered to Purchaser correct and complete copies of all
Tax returns filed by the Company (including pertinent sections of any
consolidated federal income Tax returns in which the operations of the Company
were included).

     Section 3.14 Environmental Protections. The Company is in compliance with
all applicable Environmental Laws. There is no pending or, to the Actual
Knowledge of Seller and the Company, threatened civil or criminal litigation,
written notice of violation, formal administrative proceeding, or investigation,
inquiry or information request by any Governmental Authority, relating to any
Environmental Law involving the Company. The Company has not caused, arranged or
allowed, or contracted with any party for, the transportation, treatment,
storage or disposal of any Hazardous Substance in connection with the operation
of their business or otherwise. No Hazardous Substance has been released into
the environment on or from the Leased Real Property by the Company, which
release is required under applicable Environmental Laws to be abated or
remediated by the Company. There are no past or present conditions, events,
circumstances, facts, activities, practices, incidents, actions, omissions or
plans that can reasonably be expected to form the basis of any claim, action,
suit, proceeding, hearing, investigation or inquiry against or involving the
Company, allegedly or actually based on or related to any violation of any
Environmental Law or that is reasonably likely to require the Company to incur
any Losses in connection

                                       15

<PAGE>

therewith. Set forth on Schedule 3.14 is a list of all governmental
authorizations currently held by the Company pursuant to Environmental Laws. For
purposes of this Agreement, the term "Environmental Laws" shall mean any
federal, state, local or foreign law (including without limitation common law),
treaty, judicial decision, regulation, rule, judgment, order, decree,
injunction, permit, or governmental restriction or requirement or any agreement
with any governmental authority or other third party, relating to health or
safety of Persons, natural resources, conservation, wildlife, waste management,
Hazardous Substances, and pollution (including without limitation, regulation of
releases and disposals to air, soil, land water and groundwater), and includes,
without limitation, the Comprehensive Environmental Response, Compensation and
Liability Act of 1980, as amended by the Superfund Amendments and
Reauthorization Act of 1986, 42 U.S.C. Section 6901 et seq., Solid Waste
Disposal Act, as amended by the Resource Conservation and Recovery Act of 1976
and Hazardous and Solid Waste Amendments of 1984, 42 U.S.C. Section 6901 et
seq., Hazardous Materials Transportation Act, 49 U.S.C. Section 1801 et seq.,
Federal Water Pollution Control Act, as amended by the Clean Water Act of 1977,
33 U.S.C. Section 1251 et seq., Toxic Substances Control Act of 1976, 15 U.S.C.
Section 2601 et seq., Occupational Safety and Health Act of 1970, as amended, 29
U.S.C. Section 651 et seq., Emergency Planning and Community Right-to-Know Act
of 1986, 42 U.S.C. Section 11001 et seq., National Environmental Policy Act of
1975, 42 U.S.C. Section 4321 et seq., Safe Drinking Water Act of 1974, as
amended, 42 U.S.C. Section 300 (f) et seq., and any similar or implementing
state, local and foreign law, and all successor statutes, amendments, rules,
regulations, guidance documents and publications promulgated thereunder. For
purposes of this Agreement, the term "Hazardous Substances" shall include any
chemical, wastes, compounds, byproducts, pollutants, contaminants, flammable
materials, petroleum, polychlorinated biphenyls, explosives, radioactive
materials, hazardous wastes, toxic substances, asbestos containing material or
any other substance or material now or hereafter defined as hazardous or toxic
pursuant to Environmental Laws, and any other material that, because of its
quantity, concentration or physical, chemical or infectious characteristics, may
cause or pose a present or potential hazard to human health or the environment
when improperly used, treated, stored, disposed, generated, manufactured,
transported or otherwise handled.

     Section 3.15 Disclosure. No representation or warranty by the Company
contained in this Agreement, nor any certificate furnished or to be furnished by
the Company to Purchaser or its representatives pursuant to the terms of this
Agreement, taken together and not individually, contains any untrue statement of
a material fact, or omits or will omit to state any material fact required to
make the statements herein or therein contained, in light of the circumstances
under which they are or will be made, not misleading.

     Section 3.16 Purchaser's Acknowledgement. Notwithstanding anything herein
contained, the Purchaser acknowledges that it is aware of and consents to the
Company and the Seller entering into agreements or taking other actions relating
to the Company transferring its subscribers, disposing of or transferring its
equipment, terminating its employees, terminating agreements other than the
Licenses, Tower Leases and Leases, settling its accounts and distributing the
proceeds of any or all of the above-noted transactions to Seller.

                                       16

<PAGE>

                                    ARTICLE 4
              REPRESENTATIONS AND WARRANTIES OF EACH RELATED PARTY

     As a material inducement to Purchaser to enter into this Agreement and
purchase the Shares to be purchased by it hereunder, each Related Party
represents and warrants to Purchaser that:

     Section 4.1 Authorization of Transactions. Such Related Party has full
legal capacity to enter into this Agreement and the other documents contemplated
hereby to which such Related Party is a party, and to perform his or its
obligations hereunder and thereunder. This Agreement and the other documents
contemplated hereby to which such Related Party is a party have been or will be
duly executed and delivered by such Related Party and constitute, or when
executed and delivered will constitute, the valid and binding agreements of such
Related Party, enforceable in accordance with their terms, except as may be
limited by bankruptcy, insolvency, reorganization, fraudulent conveyance or
other similar laws affecting the enforcement of creditors' rights generally and
general equitable principles.

     Section 4.2 Absence of Conflicts. Neither the execution and the delivery of
this Agreement and the Ancillary Documents to which such Related Party is a
party, nor the consummation of the Transactions, will (a) conflict with, result
in a breach of any of the provisions of; (b) constitute a default under; (c)
result in the violation of; (d) give any third party the right to terminate or
to accelerate any obligation under; (e) result in the creation of any Lien upon
the equity of the Company under; or (f) other than Consents from the FCC,
require any authorization, consent, approval, execution or other action by or
notice to any Governmental Authority under, any indenture, mortgage, lease, loan
agreement or other material agreement or instrument to which such Related Party
is bound or affected, or any Law to which such Related Party is subject.

     Section 4.3 Litigation. Other than with respect to the Consents from the
FCC as otherwise disclosed herein, there are no Proceedings pending, or to
Related Party's Actual Knowledge, after due inquiry, threatened by or against or
relating to such Related Party, at law or in equity, or before or by any
Governmental Authority, which would adversely affect such Related Party's
performance under this Agreement, the Ancillary Documents to which such Related
Party is a party or the consummation of the Transactions.

                                    ARTICLE 5
                   REPRESENTATIONS AND WARRANTIES OF PURCHASER

     Section 5.1 Organization and Power. Purchaser is a limited liability
company duly organized, validly existing and in good standing under the laws of
the jurisdiction of its organization. Purchaser is qualified to do business as a
foreign entity and is in good standing in each jurisdiction in which the
ownership of properties or the conduct of its business requires Purchaser to be
so qualified, except where the failure to be so qualified would not have a
Material Adverse Effect. Purchaser has all requisite power and authority to
execute and deliver this Agreement and the Ancillary Documents and to perform
its obligations hereunder and thereunder.

                                       17

<PAGE>

     Section 5.2 Authorization; Enforceability. The execution, delivery and
performance by Purchaser of this Agreement, the Ancillary Documents and each of
the Transactions have been duly and validly authorized by Purchaser and no other
act or proceeding on the part of Purchaser or its managers or members is
necessary to authorize the execution, delivery or performance by Purchaser of
this Agreement or any Ancillary Document or the consummation of any of the
Transactions. This Agreement has been duly executed and delivered by Purchaser,
and this Agreement constitutes, and the Ancillary Documents upon execution and
delivery by Purchaser will each constitute, a valid and binding obligation of
Purchaser, enforceable against it in accordance with its terms, subject to
bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and
similar laws of general applicability relating to or affecting creditors' rights
and to general equity principles.

     Section 5.3 Absence of Conflicts. Neither the execution and the delivery of
this Agreement and the Ancillary Documents to which Purchaser is a party, nor
the consummation of the Transactions, will (a) conflict with, result in a breach
of any of the provisions of; (b) constitute a default under; (c) result in the
violation of; (d) give any third party the right to terminate or to accelerate
any obligation under; or (e) require any authorization, consent, approval,
execution or other action by or notice to any Governmental Authority under, any
indenture, mortgage, lease, loan agreement or other material agreement or
instrument to which Purchaser is bound or affected, or any Law which Purchaser
is subject.

     Section 5.4 Litigation. There are no Proceedings pending, or to the Actual
Knowledge of Purchaser, threatened by or against or relating to Purchaser, at
law or in equity, or before or by any Governmental Authority, which would
adversely affect Purchaser's performance under this Agreement, the Ancillary
Documents to which Purchaser is a party or the consummation of the Transactions.

     Section 5.5 Brokers. Purchaser has not employed any broker or finder or
incurred any liability for any brokerage or finder's fees or commissions in
connection with the Transactions.

                                    ARTICLE 6
                         COVENANTS AND OTHER AGREEMENTS

     Section 6.1 Covenants of Seller. During the period from the date of this
Agreement to the Closing or until any earlier termination of this Agreement in
accordance with its terms:

          (a) except for a Lien in favor of Purchaser in connection with the
Loan or as consented to in writing by an authorized representative of Purchaser,
Seller shall not deliver, sell, grant, pledge or otherwise encumber or subject
to any Lien any of the Shares or any rights or options to acquire any of such
Shares or authorize, commit or agree to take any of the foregoing actions;

                                       18

<PAGE>

          (b) Seller shall not amend or otherwise modify the Company's articles
of incorporation or bylaws, without Purchaser's prior written consent;

          (c) except as specifically set forth on Schedule 6.1, Seller shall not
take any action or fail to take any action that would cause the representations
and warranties set forth in Article 3 to no longer be true and correct in all
material respects; and

          (d) Seller shall use commercially reasonable efforts to preserve its
relationships with the lessors under the Leases and the Tower Leases.

     Section 6.2 Exclusivity. From and after the date of this Agreement until
the Closing or the termination of this Agreement in accordance with its terms,
each of the Seller and the Company will not, nor will either authorize or permit
any of its officers, directors, Affiliates, Employees, agents or any investment
banker, attorney or other advisor or representative (or any of their respective
Affiliates) to, directly or indirectly:

          (a) take any action to initiate, solicit, facilitate, encourage or
induce the making, submission or announcement of any Acquisition Proposal;

          (b) participate in any discussions or negotiations regarding, furnish
to any Person any nonpublic information with respect to, or take any other
action to facilitate any inquiries or the making of any proposal that
constitutes, or may reasonably be expected to lead to, any Acquisition Proposal;

          (c) engage in discussions or negotiations with any Person with respect
to any Acquisition Proposal;

          (d) amend or grant any waiver or release under any standstill or
similar agreement with respect to equity securities of the Company (a
"Standstill Agreement"); or

          (e) approve, endorse or recommend any Acquisition Proposal;

The Company will immediately cease any and all existing activities, discussions
or negotiations with any parties (other than Purchaser) conducted heretofore
with respect to any Acquisition Proposal. The Company shall notify Purchaser
immediately (but in any event within 48 hours) after receipt by the Company (or
any of its advisors) of any Acquisition Proposal, or of any request for
information relating to the Company for access to the properties, books or
records of the Company by any Person for the purpose of making an Acquisition
Proposal. The Company shall provide such notice orally and in writing and shall
identify the terms and conditions of any such Acquisition Proposal or request
for information. The Company will keep Purchaser informed on a prompt basis (but
in any event within 48 hours) of the material developments (including amendments
or proposed amendments) of any such Acquisition Proposal request.

     Section 6.3 Consummation of Transactions. From and after the date of this
Agreement, each Party shall use its reasonable best efforts to take, or cause to
be taken, all actions, and to do, or cause to be done, all things necessary,
proper or advisable and consistent with applicable Law to perform its
obligations under this Agreement and to

                                       19

<PAGE>

consummate the Transactions as soon as reasonably practicable. The Parties
acknowledge and agree that an application for consent to carry out certain
aspects of the U.S. Reorganization will be required to be filed either prior to
or concurrently with the application for consent to the sale of the Shares to
Purchaser. The Parties agree that in no event shall the Transactions be
consummated prior to receiving any requisite approvals from Governmental
Authorities.

     Section 6.4 Compliance with Law. Prior to Closing, Seller shall comply in
all material respects with Laws applicable to the Licenses.

     Section 6.5 Certain Notices. Each Party shall promptly notify the other
Party in reasonable detail:

          (a) upon the commencement of, or the impending or threatened
commencement of, or upon obtaining Knowledge of any facts that would give rise
to, any claim, action or proceeding brought to enjoin the consummation of the
Transactions, or against or relating to (i) the notifying Party or its
properties or assets, which could materially adversely affect the Transactions
or its ability to perform its obligations hereunder, or (ii) the Licenses or
Leases or their use;

          (b) upon the occurrence of, or the impending or threatened occurrence
of, or upon obtaining Knowledge of any facts that would give rise to, any event
which could cause or constitute a material breach of any of its representations,
warranties, covenants or agreements contained in this Agreement, and shall use
commercially reasonable efforts to prevent or promptly remedy such breach; and

          (c) upon the occurrence or existence of any event, condition,
circumstance or state of facts known to the notifying Party, which has had or
could have a material adverse effect on the Transactions or its ability to
perform its obligations hereunder, or could materially adversely affect the
Licenses or Leases or their use.

     Section 6.6 Confidentiality. Pursuant to this Agreement and the performance
thereof, each Party (the "Receiving Party") may receive certain Confidential
Information from the other Party (the "Disclosing Party"). The Receiving Party
shall not use for itself, except in performance of the Agreement, or disclose to
any Person this Agreement or any Confidential Information of the Disclosing
Party, except (a) information that was gained independent of the Receiving
Party's relationship with the Disclosing Party and that has become publicly
available through no breach of any obligation of confidentiality by the
Receiving Party; (b) information that is communicated to a third party with the
prior written consent of the Disclosing Party; or (c) information that is
required to be disclosed pursuant to the lawful order of any Governmental
Authority or disclosure that is required by operation of Law, but in such event,
only to the extent such disclosure is required and, to the extent reasonably
practicable, prior written notice must be given to allow the Disclosing Party to
seek a protective order or other appropriate remedy. In the event of a beach or
threatened breach of the terms of this section, the Disclosing Party shall be
entitled to seek an injunction prohibiting any such breach. Any such injunctive
relief shall be in addition to, and not in lieu

                                       20
<PAGE>

of, any appropriate relief in the way of money damages or any other remedies
available at law or in equity.

     Section 6.7 Further Assurances. Each Party shall forthwith upon request
execute and deliver such documents and take such actions as may reasonably be
requested by the other Party in order to effectuate the purposes of this
Agreement and the Ancillary Documents.

     Section 6.8 FCC Qualifications. The Company hereby covenants and agrees
that prior to the Closing it shall maintain all necessary qualifications to hold
and to obtain renewal in the ordinary course of the Licenses and Leases, and
further covenants that it shall not knowingly or negligently take any action, or
fail to take any action, which action or failure to act creates a material risk
that Company would not be qualified to hold the Licenses or Leases or that FCC
would revoke the Licenses or Leases.

     Section 6.9 Consents. The Parties shall use commercially reasonable efforts
and shall cooperate to prepare and file with Governmental Authorities and other
Persons, no later than ten (10) days following the Effective Date, all
applications, notices, petitions and other documentation necessary or advisable
to obtain the Consents (it being understood that the failure to file within such
period shall not constitute a breach of this Agreement if the Parties are acting
in compliance with this Section 6.9). Each Party shall furnish to the other
party all information concerning such party and its Affiliates reasonably
required for inclusion in any application to be made in connection with the
Transactions or to determine compliance with FCC Laws. Purchaser shall promptly
reimburse Seller and the Company for any costs and expenses which they incur in
connection with the preparation, review and filing of applications for such
Consents, which are unrelated to the U.S. Reorganization.

     Section 6.10 Employee Matters. On or before 12:01 am on the Closing Date,
Seller shall cause the Company to terminate the employment with the Company of
all of the Employees. Seller and each Related Party acknowledges and agrees that
Purchaser shall be permitted, but not required, to offer employment to any of
the Employees at any time on or after the Closing Date.

     Section 6.11 U.S. Reorganization. Purchaser acknowledges that Seller, CWS
and their Affiliates intend to effectuate the U.S. Reorganization after the
Effective Date, but prior to the Closing. Purchaser agrees that Seller and CWS
may take any and all actions necessary to effectuate the U.S. Reorganization;
provided, that (i) Seller and CWS shall obtain the written consent of Purchaser,
which may be withheld by Purchaser in its sole discretion, acting reasonably,
prior to taking any action in connection with the U.S. Reorganization which
would potentially cause a breach by Seller of any of its covenants under this
Article 6, including its agreement to prepare and file with Governmental
Authorities and other Persons, no later than ten (10) Business Days following
the Effective Date, all applications, notices, petitions and other documentation
necessary or advisable to obtain the Consents, (ii) upon the merger of SkyCable
and Seller, the surviving entity (the "Surviving Entity") shall execute and
deliver to Purchaser an assumption agreement, which shall be in a form
acceptable to Purchaser in its sole discretion, pursuant to which the Surviving
Entity expressly acknowledges and agrees that it has assumed all of the
obligations of Seller hereunder and

                                       21

<PAGE>

that each of the representations and warranties set forth in Article 3 of this
Agreement are true and correct immediately following the merger as though made
by the Surviving Entity on and as of such date, and (iii) each of CWI and Newco
shall execute joinders to this Agreement, which shall be in a form acceptable to
Purchaser, acting reasonably, pursuant to which CWI and Newco each agree to
become bound by and assume the obligations of a Related Party under this
Agreement, including without limitation the indemnification obligations of a
Related Party under Article 9.

     Section 6.12 Assumed Liabilities. The Company shall not have any obligation
or liability of any nature whatsoever, whether accrued or fixed, absolute or
contingent, known or unknown, or determined or determinable, and whether
incurred prior to, on or after the Closing Date, other than the following
(collectively, the "Assumed Liabilities"): (a) all liabilities and obligations
of the Company under the Leases, Licenses and the Tower Leases arising or to be
performed after the Closing and relating to the time period on and after the
Closing Date; and (b) the liabilities and obligations of the Company described
on Schedule 6.12 attached hereto. Seller and the Company shall cause all
obligations or liabilities of the Company of any nature whatsoever (other than
the Assumed Liabilities) (the "Rejected Liabilities") to be terminated,
satisfied, discharged or waived by the Company and each of the other Persons
that are a party thereto on or before the Closing. Provided that the Company
complies with this section, Purchaser shall cause the Company to pay to Seller
the amount of any accounts receivable accrued prior to Closing but received by
the Company following Closing. Purchaser shall have no obligation to take, or to
cause the Company to take, any action to collect on any accounts receivable
accrued prior to Closing. The Company may assign the accounts receivable to or
to the order of the Seller prior to the Closing

     Section 6.13 Change of Name. Forthwith following the Closing, the Purchaser
shall cause the Company to change its name and to cease using the name "Craig"
in any of its operations.

     Section 6.14 Canadian Reorganization. New Holdco shall execute a joinder to
this Agreement, which shall be in a form acceptable to Purchaser, acting
reasonably, pursuant to which NewHoldco agrees to become bound by and assume the
obligations of a Related Party under this Agreement, including without
limitation the indemnification obligations of a Related Party under Article 9.

                                    ARTICLE 7
                              CONDITIONS TO CLOSING

     Section 7.1 Conditions to the Obligations of Both Parties. Each Party's
obligation to consummate the Transactions contemplated by this Agreement is
subject to the satisfaction or waiver, on or prior to the Closing Date, of each
of the following conditions, as applicable to the Party specified:

          (a) The FCC shall have approved the application for consent to the
sale of the Shares to Purchaser (or its designee) as required, such approval
shall have become a Final Order, and such Final Order shall be in full force and
effect; and all other notices, filings and Consents required to be made or
obtained prior to the Closing by either Party or

                                       22

<PAGE>

any of its respective Affiliates with or from any Governmental Authority or
other Person in connection with the execution and delivery of this Agreement and
the consummation of the Transactions shall have been made or obtained.

          (b) No preliminary or permanent injunction or other order, decree or
ruling issued by a Governmental Authority, nor any Law promulgated or enacted by
any Governmental Authority, shall be in effect that would impose material
limitations on the ability of either Party to consummate the Transactions.

     Section 7.2 Conditions to the Obligations of Seller. Seller's obligation to
consummate the Transactions contemplated by this Agreement is subject to the
satisfaction or waiver on or prior to the Closing Date of each of the following
conditions:

          (a) The representations and warranties of Purchaser contained herein
and in the Ancillary Documents shall be true and correct in all material
respects (except for representations and warranties that are qualified as to
materiality, which shall be true and correct) as of the Closing as if made on
and as of such Closing Date (except that representations and warranties that are
made as of a specific date need be so true and correct only as of such date),
and Seller shall have received a certificate to such effect dated as of such
Closing Date and executed by a duly authorized officer of Purchaser.

          (b) The covenants and agreements of Purchaser to be performed under
this Agreement and the Ancillary Documents on or prior to a Closing shall have
been duly performed in all material respects, and Seller shall have received a
certificate to such effect dated as of such Closing Date and executed by a duly
authorized officer of Purchaser.

          (c) The transactions contemplated by the U.S. Reorganization and the
Canadian Reorganization shall have received FCC approval, if such approval is
required.

     Section 7.3 Conditions to the Obligations of Purchaser. Purchaser's
obligation to consummate the Transactions contemplated by this Agreement are
subject to the satisfaction or waiver on or prior to the Closing Date of each of
the following conditions:

          (a) The representations and warranties of Seller, the Company and each
Related Party contained herein and in the Ancillary Documents shall be true and
correct in all material respects (except for representations and warranties that
are qualified as to materiality, which shall be true and correct) as of the
Closing as if made on and as of such Closing Date (except that representations
and warranties that are made as of a specific date need be so true and correct
only as of such date), and Purchaser shall have received certificates to such
effect dated as of such Closing Date and executed by a duly authorized officer
of Seller, the Company and each Related Party.

          (b) The covenants and agreements of Seller, the Company and each
Related Party to be performed under this Agreement and the Ancillary Documents
on or prior to a Closing shall have been duly performed in all material
respects, and Purchaser shall have received certificates to such effect dated as
of such Closing Date and executed by a duly authorized officer of Seller, the
Company and each Related Party.

                                       23

<PAGE>

          (c) Seller and each of its Affiliates that are a party to any of the
Loan Documents shall have complied in all material respects with each of the
terms and conditions of the Loan Documents through and including the Closing
Date.

          (d) Seller shall have executed and delivered to Purchaser (or its
designee) stock certificates representing all of its Shares, endorsed in blank
or accompanied by duly executed assignment documents.

          (e) Seller and Purchaser, or Purchaser's designee, shall have entered
into the Investment Documents required by Purchaser in connection with the
acquisition by Purchaser, or Purchaser's designee, of a 15% ownership interest
in the Joint Venture.

          (f) Seller and Purchaser, or Purchaser's designee, shall have entered
into the Equipment Lease Agreement.

          (g) Seller, each Related Party and their Affiliates shall have entered
into the Noncompete Agreement.

          (h) Seller shall have delivered evidence, in a form reasonably
satisfactory to Purchaser, of the termination of all of the Employees of the
Company in accordance with Section 6.10.

          (i) The Purchaser shall have received documentation evidencing the
termination, satisfaction, discharge or waiver of all Rejected Liabilities as
required under Section 6.12, which documentation shall be in a form reasonably
satisfactory to Purchaser.

          (j) The Purchaser shall have received evidence, including estoppel
certificates from the parties to all Leases and Tower Leases, in a form
reasonably satisfactory to Purchaser, that (i) the Purchaser has received a
complete and accurate copy of the Leases and Tower Leases, including any
amendments, (ii) the Leases and Tower Leases are in full force and effect and
there are no uncured breaches or defaults by the Company under any Lease or
Tower Lease, (iii) all payments to be made by the Company under the Leases and
Tower Leases have been made as of the date of such estoppel certificate, (iv)
the parties to the Leases and Tower Leases have not imposed any restrictions
that would prevent the Company from using the ITFS Channels and Tower Sites for
any purpose permitted under applicable law.

                                    ARTICLE 8
                                   TERMINATION

     Section 8.1 Termination. This Agreement may be terminated at any time:

          (a) by mutual written consent of Purchaser and Seller;

          (b) by either Purchaser or Seller if (i) there shall be any Law that
makes consummation of the Transactions illegal or otherwise prohibited, or (ii)
any judgment,

                                       24

<PAGE>

injunction, order or decree of any court or other Governmental Entity having
competent jurisdiction enjoining Purchaser and Seller from consummating the
Transaction is entered and such judgment, injunction or order shall have become
final and non-appealable;

          (c) by either Party upon the material breach of the other party if
such breach is not cured within thirty (30) days following written notice by the
non-breaching party which notice shall describe the breach ; provided, however,
such thirty (30) day period shall be extended to ninety (90) days if the breach
by its nature cannot be cured within such thirty (30) day period and if the
breaching party promptly commences to cure the breach within such thirty (30)
day period and continues to proceed thereafter with reasonable diligence;

          (d) by either the Purchaser or Seller, if the Closing has not occurred
within eighteen (18) months of the date of this Agreement, provided that the
failure to close on or before such date is not the fault of the terminating
Party; or

          (e) by Seller if the FCC does not consent to the U.S. Reorganization
within eighteen (18) months of the date of this Agreement, provided that Seller
shall have the right to terminate this Agreement under this Section 8.1(e) only
if such FCC consent is required by applicable law and Seller has exercised its
best efforts, acting in good faith, to obtain such FCC consent.

     Section 8.2 Effect of Termination. In the event of a termination of this
Agreement in accordance with its terms, neither Party shall have any liability
or further obligation to the other, except that

          (a) nothing herein will relieve a Party from liability for any breach
by such Party of this Agreement; and

          (b) the provisions of this Article 8, Article 9 and Article 10 shall
survive the termination of this Agreement.

Whether or not Closing occurs, subject to Section 6.9, all costs and expenses
incurred in connection with this Agreement and the Transactions shall be paid by
the Party incurring such expenses.

                                    ARTICLE 9
                              SURVIVAL AND REMEDIES

     Section 9.1 Survival. The representations and warranties contained in this
Agreement shall survive the Closing until two (2) years after the Closing Date
and shall expire at such time. The covenants and other agreements contained in
this Agreement shall survive the Closing until the date or dates specified
therein or the expiration of the applicable statute of limitations (including
any waivers or extensions thereof) with respect to such matters, whichever is
later.

     Section 9.2 Seller Indemnification. Seller and each Related Party (which,
following the Canadian Reorganization, shall not include CWS or Manalta
Investment

                                       25

<PAGE>

Company Ltd. but, rather, New Holdco) shall jointly and severally
indemnify Purchaser, its representative members, managers, officers, employees,
agents, successors and assigns and Affiliates (the "Purchaser Indemnified
Parties") and hold the Purchaser Indemnified Parties harmless from and against
any and all Damages based upon, attributable to or resulting from:

          (a) the failure of any representation or warranty of Seller, the
Company or any Related Party set forth in this Agreement or the Ancillary
Documents, or any representation or warranty contained in any certificate
delivered by pursuant to this Agreement, to be true and correct as of the dates
made;

          (b) the breach of any covenant or other agreement on the part of
Seller, the Company or any Related Party under this Agreement or the Ancillary
Documents;

          (c) any acts, errors, omissions, operations or other activities of or
relating to the Company and its Business with respect to periods prior to the
Closing Date;

          (d) any Rejected Liabilities;

          (e) any and all of items which are listed in Schedule 3.12 hereto;

          (f) the employment, termination of employment, compensation or
employee benefits of any nature owed to any Employees (or the beneficiary of any
Employee) that arises out of or relates to the employment relationship between
the Company and any such employee or former employee prior to the Closing Date
or the termination of such relationship. Without limiting the foregoing, Seller
shall be responsible for (1) the payment of any severance payment or benefits
that become due to any Employee or former employee as a result of the
termination of such Employee or former employee by the Company on or before the
Closing Date, (2) all legally mandated continuation coverage, including "COBRA"
coverage required under Sections 601 to 608 of ERISA and 4980B of the Code, for
Employees of the Business and their covered dependents who had or have a loss of
coverage due to a " qualifying event" (within the meaning of Section 603 of
ERISA) due to a termination of employment by Seller, and (3) any contributions
due under any benefit plans of the Company on or prior to Closing, as well as
the payment of any withdrawal liability that exists on or prior to Closing, or
which would exist if a complete withdrawal were to occur immediately prior to
the Closing; and

          (g) any and all actions, suits, proceedings, claims, demands,
assessments, judgments, costs and expenses (including, without limitation,
reasonable legal fees and expenses, and travel costs and expenses) incident to
any of the foregoing or incurred in investigating or attempting to avoid the
same or to oppose the imposition thereof, or in enforcing this indemnity.

     For certainty, in the event that the licence of station WNC261 at Honolulu,
Hawaii utilizing the D-Group Channels 1-4 is not renewed by the FCC, Purchaser
acknowledges and agrees that it shall not be entitled to any indemnification for
any claim resulting from such non-renewal.

                                       26

<PAGE>

     Section 9.3 Purchaser Indemnification. Purchaser shall indemnify Seller and
its agents, successors and assigns and Affiliates (the "Seller Indemnified
Parties") and hold the Seller Indemnified Parties harmless from and against any
and all Damages based upon, attributable to or resulting from:

          (a) the failure of any representation or warranty of Purchaser set
forth in this Agreement or the Ancillary Documents, or any representation or
warranty contained in any certificate delivered by pursuant to this Agreement,
to be true and correct as of the dates made; and

          (b) the breach of any covenant or other agreement on the part of
Purchaser under this Agreement or the Ancillary Documents.

     Section 9.4 Tax Matters.

          (a) Seller and each Related Party shall jointly and severally
indemnify each of the Purchaser Indemnified Parties and hold them harmless from
and against, any Damages attributable to (i) all Taxes (or the non-payment
thereof) of the Company for (A) any taxable period ending on or before the
Closing Date and (B) the portion up to and including the Closing Date of the
taxable period that includes (but does not end on) the Closing Date (the periods
covered by (A) and (B) the "Pre-Closing Tax Period"), (ii) all Taxes of any
member of an affiliated, consolidated, combined or unitary group of which the
Company (or any predecessor of the foregoing) is or was a member on or prior to
the Closing Date, including pursuant to Treasury Regulation Section 1.1502-6 or
any analogous or similar state, local, or foreign Law and (iii) any and all
Taxes of any person (other than the Company) imposed on the Company as a
transferee or successor, by contract or any Law, which Taxes relate to an event
or transaction occurring prior to the Closing. For greater certainty, in the
case of any taxable period that includes (but does not end on) the Closing Date,
the amount of the income of the Company and the amount of any Taxes for such
period shall be determined based on an interim closing of the books as of the
close of business on the Closing Date.

          (b) Seller shall include the income of the Company recognized on or
before the Closing Date (including any deferred items triggered into income by
Treasury Regulation Section 1.1502-13 and any excess loss account taken into
income under Treasury Regulation Section 1.1502-19) on the consolidated federal
income Tax returns filed by the Seller for all periods ending on or before or
including the Closing Date and shall pay any federal income Taxes attributable
to such income. For all taxable periods ending on or before the Closing Date,
Seller shall cause the Company to join in Seller's consolidated federal income
Tax return for such period and, in jurisdictions requiring separate reporting
from Seller, to file separate company state and local income Tax returns. All
Tax returns described in the immediately preceding sentence shall be prepared
and filed in a manner consistent with prior practice, except as required by a
change in applicable law and the Purchaser shall have the right to review and
comment on any such Tax returns prepared by Seller that are filed after the
Closing Date. Purchaser shall cause the Company to furnish information to Seller
as reasonably requested by Seller to allow Seller to satisfy its obligations
under this section in accordance with past custom and practice. The Company

                                       27

<PAGE>

and Purchaser shall consult and cooperate with Seller as to any elections to be
made on returns of the Company for periods ending on or before the Closing Date.
Purchaser shall cause the Company to be included in the Clearwire Corporation
combined or consolidated income Tax returns for all periods other than periods
ending on or before the Closing Date, and shall include the income of the
Company recognized after the Closing Date on such income Tax returns.

          (c) Seller shall timely prepare and submit to Purchaser for review,
approval (which approval shall not be unreasonably withheld), and filing (A) any
income Tax returns for the Company for the taxable period that includes the
Closing Date (other than income Tax returns with respect to periods for which a
consolidated, unitary or combined income Tax return of Seller and its affiliates
will include the operations of the Company) and ends on December 31, 2004 (the
fiscal year the Company will be required to adopt following its acquisition by
Purchaser), (B) any sales and use Tax returns with respect to the Pre-Closing
Tax Period that are filed after the Closing Date, (C) any property Tax returns
with respect to the Pre-Closing Tax Period that are filed after the Closing
Date, and (D) any excise Tax returns (including the Hawaii general excise Tax
return) with respect to the Pre-Closing Tax Period that are filed after the
Closing Date. Seller shall make such revisions to the Tax returns described in
the preceding sentence as are reasonably requested by Purchaser.

          (d) Purchaser, the Company and Seller shall cooperate fully, as and to
the extent reasonably requested by the other Party, in connection with the
filing of Tax returns pursuant to this Section 9.4 and any audit, litigation or
other proceeding with respect to Taxes. Such cooperation shall include the
retention and (upon the other Party's request) the provision of records and
information that are reasonably relevant to the preparation of any such Tax
return or to any such audit, litigation or other proceeding and making employees
available on a mutually convenient basis to provide additional information and
explanation of any material provided hereunder. The Company and Seller agree (A)
to retain all books and records with respect to Tax matters pertinent to the
Company relating to any taxable period beginning before the Closing Date until
the expiration of the statute of limitations (and, to the extent notified by
Purchaser or Seller, any extensions thereof) of the respective taxable periods,
and to abide by all record retention agreements entered into with any taxing
authority, and (B) to give the other Party reasonable written notice prior to
transferring, destroying or discarding any such books and records and, if the
other Party so requests, the Company or Seller, as the case may be, shall allow
the other Party to take possession of such books and records.

          (e) In the event that Seller is merged into or consolidated with
another entity, (i) Seller's successor shall likewise be bound by the foregoing
provisions of this Section 9.4 and (ii) references to Seller herein shall be
construed as references to Seller's successor, as appropriate to give effect to
the intent of this Section 9.4.

                                       28

<PAGE>

     Section 9.5 Indemnification Procedures.

          (a) In the event that any claim shall be asserted by any Person in
respect of which payment may be sought under Sections 9.2, 9.3 or 9.4 hereof
(each, a "Claim"), the indemnified party shall reasonably and promptly cause
written notice of the assertion of any Claim of which it has Actual Knowledge
which is covered by this indemnity to be forwarded to the indemnifying party.
The indemnifying party shall have the right, at its sole option and expense, to
be represented by counsel of its choice, which must be reasonably satisfactory
to the indemnified party, and to defend against, negotiate, settle or otherwise
deal with any Claim which relates to any Damages indemnified against hereunder.
If the indemnifying party elects to defend against, negotiate, settle or
otherwise deal with any Claim which relates to any Damages indemnified against
hereunder, it shall within five (5) days (or sooner, if the nature of the Claim
so requires) notify the indemnified party of its intent to do so. If the
indemnifying party elects not to defend against, negotiate, settle or otherwise
deal with any Claim which relates to any Damages indemnified against hereunder,
fails to notify the indemnified party of its election as herein provided or
contests its obligation to indemnify the indemnified party for such Damages
under this Agreement, the indemnified party may defend against, negotiate,
settle or otherwise deal with such Claim. If the indemnified party defends any
Claim, then the indemnifying party shall reimburse the indemnified party for the
expenses of defending such Claim upon submission of periodic bills. If the
indemnifying party shall assume the defense of any Claim, the indemnified party
may participate, at his or its own expense, in the defense of such Claim;
provided, however, that such indemnified party shall be entitled to participate
in any such defense with separate counsel at the expense of the indemnifying
party if (i) so requested by the indemnifying party to participate, or (ii) in
the reasonable opinion of counsel to the indemnified party, a conflict or
potential conflict exists between the indemnified party and the indemnifying
party that would make such separate representation advisable; and provided,
further, that the indemnifying party shall not be required to pay for more than
one such counsel for all indemnified parties in connection with any Claim. The
parties hereto agree to cooperate fully with each other in connection with the
defense, negotiation, or settlement of any such Claim.

          (b) After any final judgment or award shall have been rendered by a
court, arbitration board or administrative agency of competent jurisdiction and
the expiration of the time in which to appeal therefrom, or a settlement shall
have been consummated, or the indemnified party and the indemnifying party shall
have arrived at a mutually binding agreement with respect to a Claim hereunder,
the indemnified party shall forward to the indemnifying party notice of any sums
due and owing by the indemnifying party pursuant to this Agreement with respect
to such matter.

          (c) The failure of the indemnified party to give reasonably prompt
notice of any Claim shall not release, waive or otherwise affect the
indemnifying party's obligations with respect thereto except to the extent that
the indemnifying party can demonstrate actual loss and prejudice as a result of
such failure.

          (d) An indemnifying party shall not have any liability under Section
9.2(a) or Section 9.3(a) hereof unless the aggregate amount of Claims to the

                                       29

<PAGE>

indemnified parties finally determined to arise thereunder based upon,
attributable to or resulting from the failure of any representation or warranty
to be true and correct in all material respects, exceeds $100,000 (the
"Indemnification Threshold") and, in such event, the indemnifying party shall be
required to pay the amount of such Claims including those used to compute the
Indemnification Threshold.

     Section 9.6 Offset Against Equipment Lease Agreement Obligation. At the
election of a Purchaser Indemnified Party, any amount payable to such Purchaser
Indemnified Party by Seller under this Article 9 may be satisfied by a
corresponding reduction in the amount of equipment to be leased to the Joint
Venture pursuant to the Equipment Lease Agreement.

                                   ARTICLE 10
                                  MISCELLANEOUS

     Section 10.1 Entire Agreement. This Agreement and the Ancillary Documents
constitute the entire agreement between the Parties pertaining to the subject
matter hereof and thereof and supersede all prior and contemporaneous
agreements, understandings, negotiations and discussions, whether oral or
written, of the Parties with respect to the subject matter hereof and thereof.

     Section 10.2 Amendments and Waivers. Any provision of this Agreement may be
amended or waived if, and only if, such amendment or waiver is in writing and
signed (in the case of an amendment) by Seller and Purchaser or (in the case of
a waiver) by the Party against whom the waiver is to be effective. No failure or
delay by any Party in exercising any right, power or privilege hereunder shall
operate as a waiver thereof nor shall any single or partial exercise thereof
preclude any other or further exercise thereof or the exercise of any other
right, power or privilege.

     Section 10.3 Remedies Cumulative. Except as otherwise provided herein, all
rights, powers and remedies provided under this Agreement or otherwise available
in respect hereof at law or in equity shall be cumulative and not alternative,
and the exercise or beginning of the exercise of any thereof by a Party shall
not preclude the simultaneous or later exercise of any other such right, power
or remedy by such Party.

     Section 10.4 Assignment. This Agreement shall be binding upon and shall
inure to the benefit of the Parties and their respective successors and
permitted assigns. This Agreement may not be assigned by either Party without
the prior written consent of the other Party; provided, however, that Purchaser
may, at any time prior to the closing, assign this Agreement, or Purchaser's
right to receive assignment of one or more of the Licenses, or Leases, or
Related Assets, to any Affiliate of Purchaser, without the consent of Seller.

     Section 10.5 Notices. All notices or other communications hereunder shall
be in writing and shall be deemed to have been duly given or made (i) upon
delivery if delivered personally (by courier service or otherwise), as evidenced
by written receipt or other written proof of delivery (which may be a printout
of the tracking information of a courier service that made such delivery), or
(ii) upon confirmation of dispatch if sent by facsimile

                                       30

<PAGE>

transmission (which confirmation shall be sufficient if shown by evidence
produced by the facsimile machine used for such transmission), in each case to
the applicable addresses set forth below (or such other address which either
Party may from time to time specify):

If to Seller or any Related Party:

6th Floor, 177 Lombard Avenue
Winnipeg, MB R3B 0W5
Attention: Boyd Craig
Facsimile: (204) 957-7408

With a copy to:

Aikins, MacAulay & Thorvaldson LLP
30th Floor, 360 Main Street
Winnipeg, MB R3C 4G1
Attention: Michael E. Guttormson
Facsimile: (204) 957-4219

If to Purchaser:

Fixed Wireless Holdings, LLC
10210 N.E. Points Drive, Suite 210
Kirkland, WA 98033
Attention: Benjamin G. Wolff
Facsimile: (425) 828.8061

With a copy to:

Davis Wright Tremaine LLP
1501 Fourth Avenue
2600 Century Square
Seattle, WA 98101
Attention: Julie A. Weston, Esq.
Facsimile: (206) 628-7699

     Section 10.6 Governing Law; Jurisdiction; Waiver of Jury Trial.

          (a) This Agreement shall be governed by, and construed in accordance
with, the internal laws of the State of Washington, without reference to the
choice of law principles thereof.

          (b) The Parties submit to the jurisdiction of the state and federal
courts located in King County, Washington. THE PARTIES HEREBY IRREVOCABLY WAIVE
ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR
RELATED TO THIS AGREEMENT OR THE TRANSACTIONS.

                                       31

<PAGE>

     Section 10.7 Expenses. Except as otherwise expressly provided in this
Agreement, whether or not the Transactions are consummated, the Parties shall
bear their respective expenses (including, but not limited to, all compensation
and expenses of counsel, financial advisors, consultants, actuaries and
independent accountants) incurred in connection with this Agreement and the
Transactions. All filing fees required to be paid to any Governmental Authority
in connection with satisfying the conditions set forth in Section 7 will be
borne by Purchaser, except for fees in connection with the U.S. Reorganization
or the Canadian Reorganization.

     Section 10.8 Invalidity. In the event that any of the provisions contained
in this Agreement or in any other instrument referred to herein, shall for any
reason be held to be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other provision
of this Agreement or such other instrument and such provision will be
ineffective only to the extent of such invalidity, illegality or
unenforceability, unless the consummation of the Transactions is impaired
thereby.

     Section 10.9 Counterparts. This Agreement may be executed and delivered
(including by facsimile transmission) in one or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and
the same instrument.

     Section 10.10 Headings. The headings of the Articles and Sections herein
are inserted for convenience of reference only and are not intended to be a part
of or to affect the meaning or interpretation of this Agreement.

                            [SIGNATURE PAGE FOLLOWS]

                                       32

<PAGE>

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

                                        CRAIG WIRELESS NEVADA INC.

                                        By: /s/ T. Boyd Craig
                                            ------------------------------------
                                        Name: T. Boyd Craig
                                              ----------------------------------
                                        Title: President
                                               ---------------------------------

                                        CRAIG WIRELESS HONOLULU INC.

                                        By: /s/ T. Boyd Craig
                                            ------------------------------------
                                        Name: T. Boyd Craig
                                              ----------------------------------
                                        Title: President
                                               ---------------------------------

                                        CRAIG WIRELESS SYSTEMS INC.

                                        By: /s/ T. Boyd Craig
                                            ------------------------------------
                                        Name: T. Boyd Craig
                                              ----------------------------------
                                        Title: President
                                               ---------------------------------

                                        FIXED WIRELESS HOLDINGS, LLC

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                       33
<PAGE>

                      AMENDMENT TO STOCK PURCHASE AGREEMENT

     AMENDMENT TO STOCK PURCHASE AGREEMENT, dated as of November 30, 2004, by
and among Craig Wireless Honolulu Inc., a Hawaii corporation (the "Company"),
Craig Wireless Nevada Inc., a Nevada corporation ("Seller"), Craig Wireless
Systems Inc., a Canadian federal corporation ("CWS"), and Fixed Wireless
Holdings, LLC, a Delaware limited liability company ("Purchaser"). Seller, the
Company, CWS and Purchaser may be referred to herein as "Parties" or each a
"Party."

     WHEREAS the Parties are parties to a Stock Purchase Agreement dated as of
September 30, 2004 (the "Stock Purchase Agreement");

     AND WHEREAS the parties hereto wish to make certain amendments to the Stock
Purchase Agreement;

     NOW THEREFORE, in consideration of the mutual covenants and agreements
herein contained and for other good and valuable consideration (the receipt and
sufficiency of which is hereby acknowledged), the parties hereto hereby covenant
and agree each with the other as follows:

1.   INTERPRETATION

1.1  Defined Terms

     The term "Amending Agreement" refers to this agreement. Capitalized terms
     used in this Amending Agreement and not otherwise defined shall have the
     meaning attributed thereto in the Stock Purchase Agreement.

2.   AMENDMENTS TO STOCK PURCHASE AGREEMENT

2.1  Amendment to Exhibit A of Stock Purchase Agreement

     The Stock Purchase Agreement be and is hereby amended by deleting Exhibit A
     attached to the Stock Purchase Agreement in its entirety and replacing that
     Exhibit with Exhibit A attached hereto.

2.2  Amendment to Article 1 of Stock Purchase Agreement

     Article 1 of the Stock Purchase Agreement be and is hereby amended by
     deleting the definition of "Related Party" in its entirety and replacing
     that definition with the following:

          "Related Party" means CWS and, following the execution and delivery of
          joinders to this Agreement as contemplated under Section 6.11, each of
          CWI and Newco and, subsequent to the Canadian Reorganization, and
          following the execution and delivery of a joinder to this Agreement as
          contemplated

                                        1

<PAGE>

          under Section 6.14, means New Holdco or AmalgCo., as applicable, as
          referred to therein.

     Article 1 of the Stock Purchase Agreement shall be amended by adding the
     following three definitions at the end of Article 1:

          "Part 1 of the Canadian Reorganization" means the series of
          transactions described in Part 1 of Exhibit A attached hereto, being
          steps 1 and 2.

          "Part 2 of the Canadian Reorganization" means the series of
          transactions described in Part 2 of Exhibit A attached hereto, being
          steps 3 to 9.

          "AmalgCo" identified on Exhibit A attached hereto shall mean Manalta
          Investment Company Ltd., formed by the amalgamation which is part of
          Part 1 of the Canadian Reorganization.

2.3  Amendment to Section 9.4 of Stock Purchase Agreement

     Section 6.6 of the Stock Purchase Agreement be and is hereby deleted in its
     entirety and replaced with the following:

     "Section 6.6 Confidentiality. Pursuant to this Agreement and the
     performance thereof, each Party (the "Receiving Party") may receive certain
     Confidential Information from the other Party (the "Disclosing Party"). The
     Receiving Party shall not use for itself, except in the performance of this
     Agreement, or disclose to any Person this Agreement or any Confidential
     Information of the Disclosing Party, except (a) information that was gained
     independent of the Receiving Party's relationship with the Disclosing Party
     and that has become publicly available through no breach of any obligation
     of confidentiality by the Receiving Party; (b) information that is
     communicated to a third party with the prior written consent of the
     Disclosing Party; or (c) information that is required to be disclosed
     pursuant to the lawful order of any Governmental Authority or disclosure
     that is required by operation of Law, but in such event, only to the extent
     such disclosure is required and, to the extent reasonably practicable,
     prior written notice must be given to allow the Disclosing Party to seek a
     protective order or other appropriate remedy. In the event of a breach or
     threatened breach of the terms of this section, the Disclosing Party shall
     be entitled to seek an injunction prohibiting any such breach. Any such
     injunctive relief shall be in addition to, and not in lieu of, any
     appropriate relief in the way of money damages or any other remedies
     available at law or in equity. Notwithstanding the foregoing: (i) a
     Receiving Party may disclose this Agreement and Confidential Information to
     any Person who (a) is a potential investor in, lender to, or purchaser of
     securities or assets of, a Party or its Affiliate, or a Person with which a
     merger or similar transaction is proposed to be entered into (including,
     but not limited to, any disclosure made in connection with the U.S.
     Reorganization and the Canadian Reorganization), (b) has requested access
     to Confidential Information, and (c) has entered into a confidentiality
     agreement pursuant to which it will be required to maintain such

                                        2
<PAGE>

     Confidential Information in confidence in accordance with terms and
     conditions customary in such circumstances; (ii) a Receiving Party may
     disclose this Agreement and Confidential Information to a Governmental
     Authority or any other Person (whose consent is required under this
     Agreement) in connection with any applications, notices, petitions and
     other documentation, to the extent necessary or advisable to obtain the
     Consents."

2.4  Amendment to Section 6.14 of Stock Purchase Agreement

     Section 6.14 of the Stock Purchase Agreement be and is hereby deleted in
     its entirety and replaced with the following:

          Section 6.14 Canadian Reorganization. At the time of completion of
          Part 1 of the Canadian Reorganization, and continuing in effect until
          the completion of Part 2 of the Canadian Reorganization, AmalgCo.
          shall execute a joinder to this Agreement, which shall be in a form
          acceptable to Purchaser, acting reasonably, pursuant to which AmalgCo.
          agrees to become bound by and assume the obligations of a Related
          Party under this Agreement, including without limitation the
          indemnification obligations of a Related Party under Article 9. At the
          time of completion of Part 2 of the Canadian Reorganization, New
          Holdco shall execute a joinder to this Agreement, which shall be in a
          form acceptable to Purchaser, acting reasonably, pursuant to which
          NewHoldco agrees to become bound by and assume the obligations of a
          Related Party under this Agreement, including without limitation the
          indemnification obligations of a Related Party under Article 9.

2.5  Amendment to Section 9.2 of Stock Purchase Agreement

     Section 9.2 of the Stock Purchase Agreement be and is hereby amended by
     deleting the initial paragraph in its entirety (the first six (6) lines of
     that section) and replacing that initial paragraph with the following:

          Section 9.2 Seller Indemnification. Seller and each Related Party
          (which, following Part 1 of the Canadian Reorganization, shall include
          AmalgCo., and  which, following Part 2 of the Canadian
          Reorganization, shall not include AmalgCo. but, in its place, New
          Holdco) shall jointly and severally indemnify Purchaser, its
          representative members, managers, officers, employees, agents,
          successors and assigns and Affiliates (the "Purchaser Indemnified
          Parties") and hold the Purchaser Indemnified Parties harmless from and
          against any and all Damages based upon, attributable to or resulting
          from:

2.6  Amendment to Section 9.4 of Stock Purchase Agreement

     Section 9.4 of the Stock Purchase Agreement be and is hereby amended by
     deleting the first two (2) lines of the initial paragraph (a) and replacing
     those two (2) lines with the following:

                                        3

<PAGE>

          Section 9.4 Tax Matters.

                    (a) Seller and each Related Party shall jointly and
          severally indemnify each of the Purchaser Indemnified Parties and hold
          them harmless from and against, any

3.   NO OTHER AMENDMENTS

3.1  In all other respects, except as provided for in this Amending Agreement,
     the parties hereby confirm that the terms and conditions of the Stock
     Purchase Agreement remain unamended and in full force and effect as of the
     date hereof.

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

                                        CRAIG WIRELESS NEVADA INC.

                                        By: /s/ T. BOND CRAIG
                                            ------------------------------------
                                        Name: T. BOND CRAIG
                                        Title: PRESIDENT

                                        CRAIG WIRELESS HONOLULU INC.

                                        By: /s/ T. BOND CRAIG
                                            ------------------------------------
                                        Name: T. BOND CRAIG
                                        Title: PRESIDENT

                                        CRAIG WIRELESS SYSTEMS INC.

                                        By: /s/ T. BOND CRAIG
                                            ------------------------------------
                                        Name: T. BOND CRAIG
                                        Title: PRESIDENT

                                        FIXED WIRELESS HOLDINGS, LLC

                                        By: /s/ Ben Wolff
                                            ------------------------------------
                                        Name: Ben Wolff
                                        Title: Executive Vice President

                                       4

<PAGE>

                                    EXHIBIT A

                          CANADIAN REORGANIZATION-STEPS

Part 1

1.   Prior to or immediately following the amalgamation referred to below: (a)
     SaskTel Investments Ltd. ("SaskTel") will dispose of its interest in CWII
     and in return be given an option to acquire an agreed upon percentage of
     the shares in the appropriate Newco; (b) SaskTel will sell its shares of
     CWII to Manalta Investment Company Ltd. ("Manalta"); or (c) SaskTel's
     shares will be redeemed by CWII.

2.   CWII, CWBC, Manalta, Craig Music & Entertainment Inc., and CWSI will be
     amalgamated to form AmalgCo.

Part 2

3.   AmalgCo will incorporate a new subsidiary ("New Holdco").

4.   New Holdco will incorporate a new subsidiary for the purpose of holding the
     Canadian wireless assets ("New CanCo").

5.   New CanCo will incorporate two new wholly owned subsidiaries (each a
     "Newco" and respectively "New MB" and "NewBC").

6.   AmalgCo. will enter into a purchase and sale agreement with New Holdco
     pursuant to which it will agree to transfer all of its operating assets and
     liabilities (other than related party liabilities) to New Holdco in return
     for shares of New Holdco, such transfer to be conditional upon receiving
     CRTC approval, and will transfer its shares of Look Communications to New
     Holdco.

7.   New Holdco will enter into a purchase and sale agreement with New CanCo
     pursuant to which it will agree to transfer all of its operating assets and
     liabilities (other than related party liabilities) to New CanCo in return
     for shares of New CanCo, such transfer to be conditional upon receiving
     CRTC approval, and will transfer its shares of Look Communications to New
     CanCo.

8.   Subject to CRTC approval, New CanCo will transfer the assets and
     liabilities (other than related party liabilities) used in the Manitoba
     wireless business to New MB and will transfer the assets and liabilities
     (other than related party liabilities) used in the British Columbia
     wireless business to New BC.

9.   Following receipt of CRTC approval, the assets and liabilities (other than
     related party indebtedness) identified above will be transferred to the
     appropriate Newco.

     Note: The exact order in which the steps will be completed will depend on
     when CRTC

<PAGE>

     approval to the reorganization is obtained. Further, to accomplish certain
     of the steps, it may be necessary to continue certain of the corporations
     into other jurisdictions.<PAGE>

                                                                   Exhibit 10.28

                            STOCK PURCHASE AGREEMENT

                                 BY AND BETWEEN

                              CLEARWIRE CORPORATION

                                       AND

                               KENNETH A. JONSSON

                          DATED AS OF OCTOBER 22, 2004

<PAGE>

                            STOCK PURCHASE AGREEMENT

     STOCK PURCHASE AGREEMENT, dated as of October 22, 2004 (the "Agreement"),
by and between Clearwire Corporation, a Delaware corporation (the "Purchaser")
and Kenneth A. Jonsson (the "Seller").

                                   WITNESSETH:

     WHEREAS, Seller owns an aggregate of Two Million (2,000,000) shares of the
common stock, $1.00 par value per share (the "Shares"), of Jonsson
Communications Corporation, a California corporation (the "Company"), which
constitute all of the issued and outstanding shares of capital stock of the
Company;

     WHEREAS, Seller desires to sell to Purchaser, and Purchaser desires to
purchase from Seller, the Shares for the purchase price and upon the terms and
conditions hereinafter set forth;

     WHEREAS, it is the parties intention that as of the Closing Date, the
Company shall have no employees, no other assets other than those listed in
Schedule 3.11 and no liabilities other than the ongoing liabilities under
certain agreements as specified herein; and

     WHEREAS, certain terms used in this Agreement are defined in Section 10.1;

     NOW, THEREFORE, in consideration of the premises and the mutual covenants
and agreements hereinafter contained, the parties hereby agree as follows:

                                   ARTICLE 1.
                           SALE AND PURCHASE OF SHARES

     1.1 Sale and Purchase of Shares. Upon the terms and subject to the
conditions contained herein, on the Closing Date Seller shall sell, assign,
transfer, convey and deliver to Purchaser, and Purchaser shall purchase from
Seller, the Shares. The purchase and sale of the Shares pursuant to this
Agreement shall be effective as of the Closing.

                                   ARTICLE 2.
                           PURCHASE PRICE AND PAYMENT

     2.1 Amount of Purchase Price. The purchase price ("Purchase Price") for the
Shares shall be Eight Million Two Hundred Thousand Dollars ($8,200,000);
provided, however, to the extent that on the Closing Date, the Company has any
other liabilities other than the ongoing liabilities under the Leases and Tower
Leases, the Purchase Price shall be adjusted downwards in an amount equal to the
value of such outstanding liabilities.

     2.2 Payment of Purchase Price. The Purchase Price shall be delivered by
Purchaser as follows:

          (a) Prior to the execution of this Agreement, Purchaser paid One
Million Dollars ($1,000,000) of the Purchase Price which Seller hereby
acknowledges receipt thereof;

                                        1

<PAGE>

          (b) Upon execution of this Agreement, Purchaser shall deliver to
Seller One Million Dollars ($1,000,000) of the Purchase Price (the "Advanced
Deposit") via wire transfer in immediately available funds. Of the Advanced
Deposit, Five Hundred Thousand Dollars ($500,000) (the "Non-refundable Deposit")
shall be non-refundable except in the event that (i) this Agreement is
terminated pursuant to Section 7.1(a) or 7.1(b); (ii) this Agreement is
terminated by Purchaser pursuant to Section 7.1(c) following a material breach
by Seller; and (iii) this Agreement is terminated by Purchaser pursuant to
Section 7.1(d) because the closing conditions of Purchaser set forth in Sections
6.1 and 6.3 have not been satisfied by the first anniversary of the Effective
Date, in which case the Advanced Deposit shall be returned to Purchaser pursuant
to Section 7.2(a).

          (c) At the Closing, Purchaser shall deliver to Seller via wire
transfer in immediately available funds Six Million Two Hundred Thousand Dollars
($6,200,000) (the "Closing Payment"); provided, however, if the Purchase Price
is adjusted pursuant to Section 2.1, the Closing Payment shall be reduced
accordingly.

     2.3 Closing. The closing of the sale and purchase of the Shares provided
for in Section 1.1 hereof (the "Closing") shall take place at the offices of
Davis Wright Tremaine LLP, counsel to Purchaser, at 2600 Century Square, 1501
Fourth Avenue, Seattle, Washington, within five (5) Business Days following the
date on which the last condition under Article 6 has been satisfied, or at such
other time and place as the Seller and Purchaser may agree either in writing or
orally. The date on which the Closing shall be held is referred to in this
Agreement as the "Closing Date."

                                   ARTICLE 3.
                      REPRESENTATIONS AND WARRANTIES SELLER

     The Seller hereby represents and warrants to Purchaser that:

     3.1 Organization and Good Standing. The Company is a corporation duly
organized, validly existing and in good standing under the laws of the State of
California and has all requisite corporate power and authority to own, lease and
operate its properties and to carry on its business as now conducted. The
Company is duly qualified or authorized to do business as a foreign corporation
and is in good standing under the laws of Nevada, which is the only state where
it conducts business.

     3.2 Authorization of Agreement. Seller has all requisite power and
authority to execute and deliver this Agreement and each other agreement,
document, or instrument or certificate contemplated by this Agreement or to be
executed by Seller in connection with the consummation of the transactions
contemplated by this Agreement (the "Seller Documents"), and to consummate the
transactions contemplated hereby and thereby. This Agreement and the Seller
Documents have been duly and validly executed and delivered by Seller and
(assuming the due authorization, execution and delivery by the other parties
hereto and thereto) this Agreement and the Seller Documents constitute the
legal, valid and binding obligations of Seller, enforceable against it in
accordance with their terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium and similar laws affecting creditors' rights and
remedies generally, and subject, as to enforceability, to general principles of
equity, including principles of

                                        2

<PAGE>

commercial reasonableness, good faith and fair dealing (regardless of whether
enforcement is sought in a proceeding at law or in equity).

     3.3 Capitalization.

          (a) The authorized capital stock of the Company consists of Two
Million (2,000,000) shares of Common Stock, $1.00 par value per share (the
"Company Common Stock"). As of the date hereof, the Shares are the only shares
of the Company Common Stock issued and outstanding and no shares of Company
Common Stock are held by the Company as treasury stock. All of the Shares were
duly authorized for issuance and are validly issued, fully paid and
non-assessable. There are no existing options, warrants, calls, rights,
commitments or other agreements of any character to which the Company is a party
requiring, and there are no securities of the Company outstanding which upon
conversion or exchange would require, the issuance, sale or transfer of any
additional shares of capital stock or other equity securities of the Company or
other securities convertible into, exchangeable for or evidencing the right to
subscribe for or purchase shares of capital stock or other equity securities of
the Company. Neither the Company nor Seller is a party to any voting trust or
other voting agreement with respect to any of the Shares or to any agreement
relating to the issuance, sale, redemption, transfer or other disposition of the
capital stock of the Company.

          (b) Seller is the record and beneficial owner of the Shares, free and
clear of any and all Liens. Seller has the authority and capacity to sell,
transfer, assign and deliver such Shares as provided in this Agreement, and such
delivery will convey to Purchaser good and marketable title to such Shares, free
and clear of any and all Liens, charges, demands or adverse claims or other
restrictions on the exercise of any of the attributes of ownership.

     3.4 Subsidiaries. The Company has no Subsidiaries.

     3.5 Absence of Undisclosed Liabilities. The Company does not have any
liabilities or obligations (whether accrued, absolute, contingent, unliquidated
or otherwise, whether due or to become due). At the Closing Date, the Company
shall have no liabilities other than the ongoing liabilities under the Leases
and Tower Leases.

     3.6 Absence of Changes. Except for the execution and delivery of this
Agreement and the transactions contemplated hereby (including the termination or
migration of subscribers, the cessation of video transmission as it is currently
conducted and other activities taken to comply with the representation set forth
in Section 3.11), or referred to herein, since January 1, 2004, the Company has
conducted its business in the ordinary course and there has not been (a) any
material adverse change having, or any event or condition which has had, or
could reasonably be expected to have, a material adverse effect on the Licenses,
Leases or Assets (a "Company Material Adverse Effect"), (b) any waiver of any
valuable right of the Company, the cancellation of any valuable right of the
Company, or the cancellation of any material debt or claim held by the Company
with respect to the Licenses, Leases or Assets, (c) any payment or declaration
of dividends on, or other distribution with respect to, or any direct or
indirect redemption or acquisition of, any securities of the Company, (d) any
issuance of any stock, bonds or other securities of the Company or any split,
combination or reclassification of the Company's capital stock, (e) any sale,
assignment or transfer of any tangible or intangible assets of the Company,

                                        3

<PAGE>

except (i) in the Ordinary Course of Business, and (ii) to comply with the
representation set forth in Section 3.11, (f) any loan by the Company to any
officer, director, employee, consultant or shareholder of the Company (other
than advances to such persons in the Ordinary Course of Business in connection
with travel and travel related expenses), (g) any damage, destruction or loss
(whether or not covered by insurance) materially and adversely affecting the
Licenses, Leases or Assets, (h) any change in the accounting or Tax methods,
practices or policies or in any Tax election of the Company, (i) any
indebtedness incurred for borrowed money other than in the Ordinary Course of
Business or other than pursuant to an agreement set forth on Schedule 3.6 to
this Agreement, (j) any amendment to or termination of any material agreement to
which the Company is a party (other than amendments to or terminations of
agreements pursuant to or contemplated by this Agreement), (k) any mortgage,
pledge, transfer of a security interest in, or Lien, created by the Company,
with respect to any of the Licenses, Liens or Assets, except liens for taxes not
yet due or payable, or (n) any agreement or commitment (contingent or otherwise)
to do any of the foregoing.

     3.7 No Conflict.

          (a) Neither of the execution and delivery by Seller of this Agreement
and of the Seller Documents, nor the compliance by Seller with any of the
provisions hereof or thereof will (i) conflict with, or result in the breach of,
any provision of the certificate of incorporation and bylaws of the Company,
(ii) conflict with, violate, result in the breach of, constitute (with or
without due notice, lapse of time or both) a default under, result in the
acceleration of, create in any party the rights to accelerate, terminate, modify
or cancel, or require any notice, consent or waiver under, any note, bond,
mortgage, indenture, license, agreement or other obligation to which Seller or
the Company is a party or by which Seller or the Company or any of their
properties or assets are bound or (iii) violate any statute, rule, regulation,
order or decree of any Governmental Body or authority by which Seller or the
Company is bound, except, in the case of clauses (ii) and (iii), for such
violations, breaches or defaults as would not, individually or in the aggregate,
have a Seller Material Adverse Effect or a Company Material Adverse Effect.

          (b) No consent, waiver, approval, Order, Permit or authorization of,
or declaration or filing with, or notification to, any Person or Governmental
Body, except for the approval of the FCC as described in Section 6.1(a) hereof,
is required on the part of Seller or the Company in connection with the
execution and delivery of this Agreement or the Seller Documents or the
compliance by Seller with any of the provisions hereof or thereof.

     3.8 Agreements. Except for the Leases and Tower Leases, the Company is not
a party to any indenture, mortgage, guaranty, lease, license or other contract,
agreement or understanding, written or oral (a "Contract"). Each of the
Contracts is, as of the date hereof, and will continue to be immediately after
the Closing, a legal, valid and binding obligation of, enforceable against, and
in full force and effect against, the Company and, to the knowledge of Seller,
the other parties thereto, in accordance with their terms. There is no breach,
violation or default by the Company and no event which, with notice or lapse of
time or both, would (i) constitute a material breach, violation or default by
the Company under any Contract or (ii) give rise to any Lien or right of
termination, modification, cancellation, prepayment, suspension, limitation,
revocation or acceleration against the Company under any Contract, and to the
knowledge of Seller, no other party to any Contract is in arrears in any
material matter in

                                        4

<PAGE>

respect of the performance or satisfaction of the terms and conditions on its
part to be performed or satisfied under any Contract, no waiver or indulgence
has been granted by any of the parties thereto and no party to any Contract has
repudiated any provision thereof. The Company is not restricted by any Contract
from carrying on its business (as such business is presently conducted and as it
is presently proposed to be conducted).

     3.9 Intellectual Property. The Company does not own or possess any patents,
trademarks, service marks, trade names, copyrights, trade secrets, information
and other proprietary rights and processes (collectively "Intellectual Property
Rights").

     3.10 Books and Records. Since April 21, 1978, the corporate records of the
Company is true and complete and accurately reflect all meetings of and
resolutions of, or written consents by, the stockholders or board of directors
(or committee thereof) since the day of corporate organization. The books and
records of the Company accurately reflect the assets, liabilities, business,
financial condition and results of operations of the Company and have been
maintained in accordance with good business and bookkeeping practices.

     3.11 Assets. At the Closing Date, the Company shall have no other assets
other than those listed on Schedule 3.11 and the Station Assets (collectively,
the "Assets"). The Company has good and marketable title to the Assets, free and
clear of any Liens except for (i) Liens for taxes not yet due and payable or
(ii) Liens listed on Schedule 3.11. The Assets owned by, or leased to, the
Company are sufficient for the conduct of the business and operation of the
Company as presently conducted.

     3.12 Environmental Protections. To the knowledge of Seller, the Company is
in compliance with all applicable Environmental Laws. There is no pending or, to
the knowledge of Seller, threatened civil or criminal litigation, written notice
of violation, formal administrative proceeding, or investigation, inquiry or
information request by any Governmental Entity, relating to any Environmental
Law involving the Company. The Company has not caused, arranged or allowed, or
contracted with any party for, the transportation, treatment, storage or
disposal of any Hazardous Substance in connection with the operation of their
business or otherwise. No Hazardous Substance has been released into the
environment on or from the Leased Real Property which release is required under
applicable Environmental Laws to be abated or remediated by the Company. To
Seller's knowledge, there are no past or present conditions, events,
circumstances, facts, activities, practices, incidents, actions, omissions or
plans that can reasonably be expected to form the basis of any claim, action,
suit, proceeding, hearing, investigation or inquiry against or involving the
Company, allegedly or actually based on or related to any violation of any
Environmental Law or that is reasonably likely to require the Company to incur
any Losses in connection therewith. For purposes of this Agreement, the term
"Environmental Laws" shall mean any federal, state, local or foreign law
(including without limitation common law), treaty, judicial decision,
regulation, rule, judgment, order, decree, injunction, permit, or governmental
restriction or requirement or any agreement with any governmental authority or
other third party, relating to health or safety of Persons, natural resources,
conservation, wildlife, waste management, Hazardous Substances, and pollution
(including without limitation, regulation of releases and disposals to air,
soil, land water and groundwater), and includes, without limitation, the
Comprehensive Environmental Response, Compensation and Liability Act of 1980, as
amended by the Superfund Amendments and

                                        5

<PAGE>

Reauthorization Act of 1986, 42 U.S.C. Section 6901 et seq., Solid Waste
Disposal Act, as amended by the Resource Conservation and Recovery Act of 1976
and Hazardous and Solid Waste Amendments of 1984, 42 U.S.C. Section 6901 et
seq., Hazardous Materials Transportation Act, 49 U.S.C. Section 1801 et seq.,
Federal Water Pollution Control Act, as amended by the Clean Water Act of 1977,
33 U.S.C. Section 1251 et seq., Toxic Substances Control Act of 1976, 15 U.S.C.
Section 2601 et seq., Occupational Safety and Health Act of 1970, as amended, 29
U.S.C. Section 651 et seq., Emergency Planning and Community Right-to-Know Act
of 1986, 42 U.S.C. Section 11001 et seq., National Environmental Policy Act of
1975, 42 U.S.C. Section 4321 et seq., Safe Drinking Water Act of 1974, as
amended, 42 U.S.C. Section 300(f) et seq., and any similar or implementing
state, local and foreign law, and all successor statutes, amendments, rules,
regulations, guidance documents and publications promulgated thereunder. For
purposes of this Agreement, the term "Hazardous Substances" shall include any
chemical, wastes, compounds, byproducts, pollutants, contaminants, flammable
materials, petroleum, polychlorinated biphenyls, explosives, radioactive
materials, hazardous wastes, toxic substances, asbestos containing material or
any other substance or material now or hereafter defined as hazardous or toxic
pursuant to Environmental Laws, and any other material that, because of its
quantity, concentration or physical, chemical or infectious characteristics, may
cause or pose a present or potential hazard to human health or the environment
when improperly used, treated, stored, disposed, generated, manufactured,
transported or otherwise handled.

     3.13 Employee Benefit Plans.

          (a) Other than a medical and dental coverage plan, the Company has no
plan, program or policy providing for compensation, severance, termination pay,
performance awards, stock or stock-related awards, fringe benefits or other
material employee benefits of any kind, whether formal or informal, funded or
unfunded, written or oral and whether or not legally binding, which is now or
has ever been sponsored, maintained, contributed to or required to be
contributed to by the Company or pursuant to which the Company has any
liability, contingent or otherwise, including, but not limited to, any "employee
benefit plan" within the meaning of Section 3(3) of the Employee Retirement
Income Security Act of 1974, as amended ("ERISA") (each a "Benefit Plan"). The
Company does not currently sponsor, maintain, contribute to, nor is required to
contribute to, nor has the Company ever sponsored, maintained, contributed to or
been required to contribute to, or incurred or could incur any liability to any
Benefit Plan which provides, or has any liability to provide, life insurance,
medical, severance or other employee welfare benefits to any current, former or
retired employee, officer, consultant, independent contractor, agent or director
of the Company ("Employee") upon his or her retirement or termination of
employment, except as required by Code Section 4980B. The Company does not have
any plan or commitment, whether legally binding or not, to establish any new
Benefit Plan, or to modify or terminate any Benefit Plan.

          (b) The Company is not nor ever has been (i) a member of a "controlled
group of corporations," under "common control" or a member of an "affiliated
service group" within the meaning of Code Sections 414(b), (c) or (m), (ii)
required to be aggregated under Code Section 414(o), or (iii) under "common
control," within the meaning of Section 4001(a)(14) of ERISA, or any regulations
promulgated or proposed under any of the foregoing Sections, in each case with
any entity other than the Company.

                                        6

<PAGE>

          (c) Each Benefit Plan has been established and maintained in
accordance with its terms and in compliance in all material respects with all
applicable laws, statutes, orders, rules and regulations, including but not
limited to ERISA and the Code, and each Benefit Plan intended to qualify under
Code Section 401 is, and since its inception has been, so qualified.

          (d) No "prohibited transaction," within the meaning of Code Section
4975 or Section 406 of ERISA, has occurred with respect to any Benefit Plan.
There are no actions, proceedings, arbitrations, suits or claims pending, or to
the knowledge of Seller, threatened or anticipated (other than routine claims
for benefits) with respect to any Benefit Plan or Employee Agreement. No
Employee has been hired by the Company in violation of any restrictive covenant
or any non-compete agreement with any other person. Each Benefit Plan can be
amended, terminated or otherwise discontinued without liability to the Company.
No liability under any Benefit Plan has been funded nor has any such obligation
been satisfied with the purchase of a contract from an insurance company as to
which the Company has received notice that such insurance company is insolvent
or is in rehabilitation or any similar proceeding. No Benefit Plan is under
audit or investigation by the Internal Revenue Service or the Department of
Labor, and, to the knowledge of Seller, no such audit or investigation is
pending or has been threatened. With respect to each Benefit Plan which is an
employee welfare benefit plan (within the meaning of Section 3(1) of ERISA), all
claims incurred by the Company is (i) insured pursuant to a contract of
insurance whereby the insurance company bears any risk of loss with respect to
such claims; (ii) covered under a contract with a health maintenance
organization (an "HMO") pursuant to which the HMO bears the liability for
claims, or (iii) reflected as a liability or accrued for on the Financial
Statements.

     3.14 Labor Relations; Employees. As of the Closing Date, the Company shall
have no employees and shall have satisfied all obligations owed to its
employees, including, without limitation, for any wages, salaries, commissions,
bonuses or other direct compensation for any services performed as of the
Closing Date or amounts required to be reimbursed by them by the Closing Date.
The Company is in compliance in all material respects with all applicable
federal, state and local laws, rules and regulations respecting employment,
employment practices, labor, terms and conditions of employment and wages and
hours. The Company is not bound by or subject to (and none of its assets or
properties are bound by or subject to any written or oral, express or implied,
commitment or arrangement with any employee, labor union, or any collective
bargaining agreement and no labor union has requested or, to the knowledge of
Seller, has sought to represent any of the employees, representatives or agents
of the Company. The transactions contemplated by this Agreement, including
without limitation the termination of the employees of the Company, will not
result in the violation of any applicable federal, state or local laws, rules or
regulations respecting employment, employment practices, labor, terms and
conditions of employment and wages and hours. Each officer, key employee, and
each other employee or consultant of the Company has executed standard
confidentiality agreements, which agreements are now in full force and effect.

     3.15 Litigation. There is no Legal Proceeding now in progress or pending
or, to the knowledge of Seller, threatened against the Company or the Assets or
the business of the Company, nor to the knowledge of Seller does there exist any
basis therefor. The Company is not subject to any order, writ, injunction or
decree of any court or any federal, state, municipal or other domestic or
foreign Governmental Body.

                                        7

<PAGE>

     3.16 Compliance with Laws; Permits. The Company (a) has complied in all
respects with all federal, state, local and foreign laws, rules, ordinances,
codes, consents, authorizations, registrations, regulations, decrees,
directives, judgments and orders applicable to it and its business other than
where noncompliance would not, individually or in the aggregate, reasonably be
expected to have a Company Material Adverse Effect and (b) has all federal,
state, local and foreign governmental Permits necessary in the conduct of its
business as currently conducted and to own and use its assets in the manner in
which such assets are currently owned and used other than where the failure to
possess such Permits would not, individually or in the aggregate, reasonably be
expected to have a Company Material Adverse Effect, such Permits are in full
force and effect, and no violations have been recorded in respect of any such
Permit, and no proceeding is pending or, to the knowledge of Seller, threatened
to revoke or limit any such Permit.

     3.17 Commissions, Etc. Neither the Company nor the Seller is party to any
Contract obligating the Company to pay commissions or fees to any party in
connection with the transactions contemplated by this Agreement.

     3.18 Related Party Transactions. There are no obligations and transactions
(i) between the Company and the Company's Affiliates, and (ii) between the
Company and any of the officers, directors, equity holders or employees, or any
of the affiliates or associates (each term as defined in the Securities Exchange
Act of 1934, as amended (the "Exchange Act")) of the Company. No officer or
director of the Company or person who owns at least ten percent of the
outstanding equity of Seller (nor any parent, child or spouse of any of such
persons, or any trust, partnership or corporation in which any of such persons
has or has had an interest), has or has had, directly or indirectly, (x) any
interest or involvement in any entity which furnished or sold, or furnishes or
sells, services or products which the Company furnishes or sells, or proposes to
furnish or sell, or (y) any interest or involvement in any entity which
purchases from or sells or furnishes to, the Company, any goods or services;
provided, that ownership of no more than one percent of the outstanding voting
stock of a publicly traded corporation in and of itself shall not be deemed an
interest in any entity for purposes of this Section 3.18. No Affiliate of the
Company (a) owns any property or right, tangible or intangible, which is used in
the business of the Company or (b) has any claim or cause of action against the
Company.

     3.19 Taxes.

          (a) The Company has timely filed all requisite Tax Returns. All such
Tax Returns are true, correct, accurate and complete in all material respects.
The Company has paid all Taxes which have been imposed upon the Company or upon
any of the assets, income or franchises of the Company. There exists no proposed
tax assessment against the Company. The Tax Returns of the Company have never
been audited by a Taxing Authority and the Company has received no notice of any
such audit. The Company has not waived any statute of limitations with respect
to Taxes or agreed to any extension of time with respect to any Tax assessment
or deficiency. There are no liens for Taxes (other than Taxes not yet due and
payable) upon any of the Company's assets.

          (b) The Company has withheld and paid over to the appropriate Taxing
Authority all Taxes required to have been withheld and paid over in connection
with any

                                        8

<PAGE>

amounts paid or owing to any employee, independent contractor, creditor,
stockholder, or other third party.

          (c) The Company has not filed a consent under Code Section 341(f)
concerning collapsible corporations. The Company has not been a United States
real property holding corporation within the meaning of Code Section 897(c)(2)
during the applicable period specified in Code Section 897(c)(1)(A)(ii). The
Company has disclosed on its federal income Tax Return all positions taken
therein that could give rise to a substantial understatement of federal income
Tax within the meaning of Code Section 6662.

          (d) The Company is not required to include any item of income in, or
exclude any item of deduction from, taxable income for any taxable period (or
portion thereof) ending after the Closing Date as a result of any: (A) change in
method of accounting for a taxable period ending on or prior to the Closing
Date; (B) "closing agreement" as described in Code Section 7121 (or any
corresponding or similar provision of state, local or foreign income Tax law)
executed on or prior to the Closing Date; (C) installment sale or open
transaction disposition made on or prior to the Closing Date; or (D) prepaid
amount received on or prior to the Closing Date.

          (e) The Company has been a validly electing S corporation within the
meaning of Code Sections 1361 and 1362 at all times since its formation, and the
Company will be an S corporation up to and including the Closing Date. The
Company does not have any subsidiaries.

          (f) Seller has delivered to Purchaser true, complete and correct
copies of the Tax Returns for the Company for the tax years 2002 and 2003, and
Purchaser agrees to keep such Tax Returns confidential.

     3.20 Licenses.

          (a) Schedule 3.20(a) sets forth the licenses ("Licenses") granted by
the FCC authorizing Seller to construct and operate BRS Channels in the markets
listed therein, covering the CPOPS with each such Channel listed therein. The
information set forth on Schedule 3.20(a) is true and correct. True and complete
copies of the Licenses have been delivered to Purchaser. There is no condition
imposed by the FCC as part of any of the Licenses that is neither set forth on
the face of the Licenses as issued by the FCC nor contained in the FCC Rules
applicable generally to the stations of the type, nature and class or location
of the Station. The Licenses constitute all authorizations from the FCC
necessary or required for and/or used in the operations of the Licenses and the
Channels in the market area as of the Effective Date. No Person other than
Seller has any right, title, interest or claim in or to the Licenses. The
Licenses have been granted to Seller by Final Order and are (and will be on the
Closing Date) in full force and effect.

          (b) Except as set forth on Schedule 3.20(b), there is not pending or,
to the knowledge of Seller after due inquiry, threatened against Seller or the
Licenses any application, action, petition, objection or other pleading, or any
proceeding with the FCC or any other Governmental Authority, which (i) questions
or contests the validity of, or seeks the revocation, forfeiture, non-renewal or
suspension of, the Licenses, (ii) seeks the imposition of any

                                        9

<PAGE>

modification or amendment with respect thereof, (iii) which would adversely
affect the ability of Seller to consummate the Transactions or (iv) seeks the
payment of a fine, sanction, penalty, damages or contribution in connection with
the use of the Licenses. There are no facts or circumstances existing that would
give rise to any such application, action, petition, objection or other
pleading, or proceeding with the FCC or any other Governmental Authority.

          (c) Except as set forth on Schedule 3.20(c), (i) Seller is in
compliance with all applicable Laws except for any non-compliance that,
individually or in the aggregate, will not have a material adverse effect on the
Licenses or on Seller's ability to consummate the Transactions; (ii) since the
filing of the initial application for the Licenses, Seller has complied in all
material respects with FCC Laws applicable to the Licenses, including without
limitation the Communication Act of 1934, as amended; (iii) since the issuance
of the Licenses, Seller has complied in all material respects with all of the
terms and conditions of the Licenses; (iv) the Licenses are free and clear of
all Liens and is unimpaired by any acts or omissions of Seller, its agents,
assignees and licensees; and (v) all material documents required to be filed at
any time by Seller with the FCC with respect to the Licenses have been timely
filed or the time period for such filing has not lapsed. All such documents
filed since the date that the Licenses were issued to Seller are correct in all
material respects. All amounts owed to the FCC in connection with the Licenses
have been timely paid.

          (d) Except as disclosed on Schedule 3.20(d), the facilities subject to
the Licenses for which certification or modification of completion of
construction has been filed with the FCC are operating and have been operating,
in material compliance with the Licenses therefore and the FCC Laws. Seller is
not transmitting from or otherwise operating any facility that is not the
subject of a license of the FCC. None of the facilities subject to the Licenses
(i) is authorized pursuant to an authorization which is subject to successful
challenge before the FCC or any court of competent jurisdiction or (ii) subject
to any lease, sublease or any agreement to make it available to a third party.
None of the facilities subject to the Licenses are operating pursuant to special
temporary or developmental authority.

     3.21 Leases.

          (a) For each Lease, Schedule 3.21(a) sets forth: (i) the name of the
third party lessor; (ii) the FCC call sign or file number covering the Lease;
(iii) the channels and market in which the Lease is used or useful; (iv) the
expiration date of the FCC License for the spectrum under the Lease; (v) the
expiration date of the Lease; (vi) the number of CPOPs covered by the Lease; and
(vii) the monthly, quarterly, or annual rent, as applicable, payable under such
Lease. True and complete copies of the Leases have been provided to Purchaser.
All Leases are free and clear of all Liens.

          (b) Each Lease is valid, binding on the Company and, to the knowledge
of Seller, each other party thereto and in full force and effect, meets all
requirements of Law, and is enforceable in accordance with its terms subject to
applicable bankruptcy, insolvency, reorganization, moratorium and similar laws
affecting creditors' rights and remedies generally, and subject, as to
enforceability, to general principles of equity. The Company is the lessee under
each Lease and, to the knowledge of Seller, subject to the rights reserved to
the lessor, has the sole right to use the spectrum under each Lease as required
to conduct its business for the

                                       10

<PAGE>

purposes contemplated in the Lease. To the knowledge of Seller, other than the
terms of each Lease and the FCC Rules limiting the duration of such Leases,
there are no facts or circumstances that might (whether with or without notice,
lapse of time or the occurrence of any other event) preclude the renewal or
extension of such Leases. Neither the Company nor, to the knowledge of Seller,
any other party to any of the Leases has (x) failed to comply or is in material
breach or material default thereunder or (y) claimed that the counterparty has
failed to comply or is in material breach or material default thereunder. The
consummation of the transactions contemplated by this Agreement will not cause
any violation, breach or default of any Lease or require the consent of the
lessor thereunder. No party to any Lease has claimed, and to the knowledge of
Seller, no party has threatened, that such party has a right to terminate the
Lease prior to or at the Closing or to seek damages against the Company for the
violation, breach or default by the Company of such Lease, nor does there exist
any basis for any such party to take any such actions.

          (c) Except as set forth on Schedule 3.21(c), (i) to the knowledge of
Seller, the grant, renewal or assignment of the FCC Licenses issued to the
licensee of the spectrum covered by any Lease was approved by the FCC by Final
Order; (ii) the Leases are validly issued and in full force and effect; (iii)
there is no Legal Proceeding pending before the FCC or threatened with respect
to the Leases or any underlying FCC License, nor does there exist any basis for
any party to initiate any Legal Proceeding; and (iv) there is no reason why the
Company should not be entitled to exercise all of the rights to which the
Company is entitled under the terms of each Lease, including but not limited to
the rights to use the EBS or BRS spectrum granted to the lessor under the FCC
License which is the subject of such Lease.

          (d) To the knowledge of Seller, Schedule 3.21(d) sets forth a true and
complete list of all pending applications as of the date hereof for new FCC
Licenses for BRS or EBS, assignments or transfers of FCC Licenses for BRS or
EBS, modifications of FCC Licenses for BRS, or EBS, extensions of time to
construct PSA stations and renewals of FCC Licenses for BRS or EBS filed by a
lessor with respect to any FCC License subject to any Lease (collectively, the
"Leased Pending Applications").

          (e) Except as set forth on Schedule 3.21(e), to the knowledge of
Seller, no Leased Pending Application: (i) is subject to any informal objection
or petition to deny; or (ii) proposes facilities that the FCC has advised the
applicant are predicted to cause impermissible interference as determined by
Parts 21, 27 and 74 of the FCC Rules.

     3.22 Tower Leases.

          (a) Schedule 3.22(a) sets forth a true and complete list of the
following information in relation to each of the Tower Leases: (i) the market in
which the lease is used, (ii) the expiration date of the lease, (iii) the name
of the lessor, (iv) the antenna structure registration number, (v) the address
or location of the leased premises or Tower Site, and (vi) the monthly,
quarterly or annual rent, as applicable, payable under such Tower Lease. True
and complete copies of the Tower Leases have been provided to Purchaser. The
Tower Leases set forth on Schedule 3.22(a) are all of the Tower Leases that are
necessary to use the equipment associated with each Tower Site, and to access
such equipment in connection with such use.

                                       11

<PAGE>

          (b) With respect to the Tower Leases, (i) each of the Tower Leases is
valid, binding on the Company and, to the knowledge of Seller, each other party
thereto and in full force and effect, enforceable by the Company in accordance
with its terms; (ii) the Company has not assigned, pledged, transferred, or
otherwise disposed of or granted any Lien on its rights, titles and interests
under any of the Tower Leases to any other Person, nor, to the knowledge of
Seller, has any other party to the Tower Leases so assigned, pledged,
transferred, granted any Lien on, or otherwise disposed of any of its rights,
title and interests thereunder; (iii) neither the Company nor, to the knowledge
of Seller, any other party to any of the Tower Leases has failed to comply with
or is in material breach or material default thereunder; and (iv) to the
knowledge of Seller, no condition exists or event has occurred and is continuing
as of the date hereof and the Closing which, with or without the lapse of time
or the giving of notice, or both, would constitute a material default by any
party under any Tower Lease.

          (c) To the knowledge of Seller, all of the Transmission Towers located
on the Tower Sites are obstruction-marked and lighted to the extent required by,
and in accordance with, the rules and regulations of the Federal Aviation
Administration (the "FAA") and the FCC Rules. To the knowledge of Seller,
appropriate notification to the FAA and registration with the FCC has been made
for each Transmission Tower located on the Tower Sites and owned, leased or used
by Sellers where required by the rules and regulations of the FAA or the FCC
Rules, as applicable

     3.23 Interference Coordination Agreements. The Company is not a party to
any Contract between the lessor of any Lease and any other BRS or EBS licensee,
applicant, lessor or operator with respect to (i) interference to or from
adjacent markets or spectrum within any market affecting Leases, (ii) the
coordination of adjacent market or in-market spectrum use, or (iii) other
matters concerned with the operation of channels in adjacent markets or in the
same market or agreements for the partitioning of any Basic Trading Area
authorizations that is the subject of an Lease.

     3.24 Brokers. Neither Seller nor the Company or any of their respective
officers, directors, employees or stockholders has employed any broker or finder
in connection with the transactions contemplated by this Agreement.

     3.25 Disclosure. Neither this Agreement (including all exhibits, annexes,
schedules or attachments hereto) nor any certificate furnished or made to
Purchaser or pursuant to or in connection with this Agreement (including all
exhibits, annexes, schedules or attachments hereto) contains any untrue
statement of a material fact or omits to state a material fact necessary in
order to make the statements contained herein and therein not misleading.

                                   ARTICLE 4.
                   REPRESENTATIONS AND WARRANTIES OF PURCHASER

     Purchaser hereby represents and warrants to Seller that:

     4.1 Organization and Good Standing. Purchaser is a corporation duly formed,
validly existing and in good standing under the laws of the State of Delaware
and has all requisite

                                       12

<PAGE>

corporate power and authority to own, lease and operate its properties and to
carry on its business as now conducted.

     4.2 Authorization of Agreement. Purchaser has all requisite corporate power
and authority to execute and deliver this Agreement and each other agreement,
document, or instrument or certificate contemplated by this Agreement or to be
executed by Purchaser in connection with the consummation of the transactions
contemplated by this Agreement (the "Purchaser Documents"), and to consummate
the transactions contemplated hereby and thereby. This Agreement and the
Purchaser Documents have been duly and validly executed and delivered by
Purchaser and (assuming the due authorization, execution and delivery by the
other parties hereto and thereto) this Agreement and the Purchaser Documents
constitute the legal, valid and binding obligations of Purchaser, enforceable
against it in accordance with their terms, subject to applicable bankruptcy,
insolvency, reorganization, moratorium and similar laws affecting creditors'
rights and remedies generally, and subject, as to enforceability, to general
principles of equity, including principles of commercial reasonableness, good
faith and fair dealing (regardless of whether enforcement is sought in a
proceeding at law or in equity).

     4.3 No Conflict. Neither of the execution and delivery by Purchaser of this
Agreement and of the Purchaser Documents, nor the compliance by Purchaser with
any of the provisions hereof or thereof will (i) conflict with, or result in the
breach of, any provision of the certificate of incorporation and bylaws of
Purchaser, (ii) conflict with, violate, result in the breach of, or constitute a
default under any note, bond, mortgage, indenture, license, agreement or other
obligation to which Purchaser is a party or by which Purchaser or any of its
properties or assets are bound or (iii) violate any statute, rule, regulation,
order or decree of any Governmental Body by which Purchaser is bound, except, in
the case of clauses (ii) and (iii), for such violations, breaches or defaults as
would not, individually or in the aggregate, a material adverse effect on
Purchaser's ability to consummate the Transactions. No consent, waiver,
approval, Order, Permit or authorization of, or declaration or filing with, or
notification to, any Person or Governmental Body is required on the part of
Purchaser in connection with the execution and delivery of this Agreement or the
Purchaser Documents or the compliance by Purchaser with any of the provisions
hereof or thereof.

     4.4 Brokers. Other than the engagement of Mr. Dave Hoffert and Global
Spectrum Development 1, Inc. by Purchaser's Affiliate pursuant to that certain
Spectrum Acquisition Consulting Agreement dated June 7, 2004, neither Purchaser
nor any of its respective officers, directors, employees or stockholders has
employed any broker or finder in connection with the transactions contemplated
by this Agreement. Purchaser shall be solely responsible for any and all
payments due to Mr. Dave Hoffert and Global Spectrum Development 1, Inc.

                                   ARTICLE 5.
                                   COVENANTS

     5.1 Consummation of Transactions. From and after the date of this
Agreement, each Party shall use its reasonable best efforts to take, or cause to
be taken, all actions, and to do, or cause to be done, all things necessary,
proper or advisable and consistent with applicable Law to perform its
obligations under this Agreement and to consummate the Transactions as soon as
reasonably practicable.

                                       13

<PAGE>

     5.2 Compliance with Law. Prior to Closing, Seller shall comply in all
material respects with Laws applicable to the Licenses and the Leases.

     5.3 Certain Notices. Each Party shall promptly notify the other Party in
reasonable detail:

          (a) upon the commencement of, or the impending or threatened
commencement of, or upon obtaining knowledge of any facts that would give rise
to, any claim, action or proceeding brought to enjoin the consummation of the
Transactions, or against or relating to (i) the notifying Party or its
properties or assets, which could materially adversely affect the Transactions
or its ability to perform its obligations hereunder, or (ii) the Licenses,
Leases or their use;

          (b) upon the occurrence of, or the impending or threatened occurrence
of, or upon obtaining knowledge of any facts that would give rise to, any event
which could cause or constitute a material breach of any of its representations,
warranties, covenants or agreements contained in this Agreement, and shall use
commercially reasonable efforts to prevent or promptly remedy such breach; and

          (c) upon the occurrence or existence of any event, condition,
circumstance or state of facts known to the notifying Party, which has had or
could have a material adverse effect on the Transactions or its ability to
perform its obligations hereunder, or could materially adversely affect the
Licenses, Leases or their use.

     5.4 Confidentiality. Pursuant to this Agreement and the performance
thereof, Seller may receive certain Confidential Information. Seller shall not
use for itself, except in performance of the Agreement, or disclose to any
Person this Agreement or any Confidential Information, except (a) information
that was gained independent of Seller's relationship with Purchaser and become
publicly available through no breach of any obligation of confidentiality by
Seller; (b) information that is communicated to a third party with the prior
written consent of Seller; or (c) information that is required to be disclosed
pursuant to the lawful order of a government agency or disclosure that is
required by operation of law, but in such event, only to the extent such
disclosure is required and, to the extent reasonably practicable, prior written
notice must be given to allow Purchaser to seek a protective order or other
appropriate remedy. In the event of a beach or threatened breach of the terms of
this section, Purchaser shall be entitled to seek an injunction prohibiting any
such breach. Any such injunctive relief shall be in addition to, and not in lieu
of, any appropriate relief in the way of money damages or any other remedies
available at law or in equity. Purchaser may disclose this Agreement to its
affiliates, strategic partners, actual or potential investors, lenders,
acquirers, merger partners; and others whom Purchaser deems in good faith to
have a need to know such information for purposes of pursuing a transaction or
business relationship with Purchaser.

     5.5 Further Assurances. Each Party shall forthwith upon request execute and
deliver such documents and take such actions as may reasonably be requested by
the other Party in order to effectuate the purposes of this Agreement.

                                       14
<PAGE>

     5.6 FCC Qualifications. Seller hereby covenants and agrees that prior to
the Closing it shall maintain all necessary qualifications to hold and to obtain
renewal in the ordinary course of the Licenses, and further covenants that it
shall not knowingly or negligently take any action, or fail to take any action,
which action or failure to act creates a material risk that Seller would not be
qualified to hold the Licenses or that FCC would revoke the Licenses.

     5.7 Consents. The Parties shall use commercially reasonable efforts and
shall cooperate to prepare and file with Governmental Authorities and other
Persons, no later than ten (10) days following the Effective Date, all
applications, notices, petitions and other documentation necessary or advisable
to obtain the Consents (it being understood that the failure to file within such
period shall not constitute a breach of this Agreement). Each Party shall
furnish to the other party all information concerning such party and its
Affiliates reasonably required for inclusion in any application to be made in
connection with the Transactions or to determine compliance with FCC Laws.

     5.8 Seller Covenants. Seller shall cause the Company to (a) carry on its
business with respect to the Licenses and Leases as currently conducted and only
in the usual and ordinary course; (b) preserve the Licenses and Leases intact;
(c) comply with all laws applicable to the Licenses and Leases; and (d) maintain
in full force and effect the Licenses and Leases and other licenses necessary to
preserve Seller's ability to consummate the Transaction.

     5.9 Seller Negative Covenants. Seller shall not and shall cause the Company
not to, (a) sell, transfer, assign, lease or dispose of the spectrum to be
covered by the Licenses or any interests therein or portion thereof, or
negotiate therefore; (b) create, incur or suffer to exist any Lien or other
liability on the spectrum to be covered by the Licenses or any interest therein;
(c) amend or waive any terms of any Lease; or (d) enter into, any agreement,
arrangement or understanding to, or otherwise offer or commit to do any of the
foregoing.

     5.10 Access. Between the date of this Agreement and the Closing Date,
Seller shall, during normal business hours (a) give Purchaser and its
representatives and advisors access to all books, records, offices and other
facilities and properties of the Company, (b) permit Purchaser and its
representatives and advisors to make such inspections thereof as Purchaser may
reasonably request, and (c) cause the officers and advisors of the Company to
furnish Purchaser with such financial and operating data and other information
with respect to the Company as Purchaser may from time to time reasonably
request.

     5.11 Publicity. Neither Seller nor Purchaser shall issue any press release
or public announcement concerning this Agreement or the transactions
contemplated hereby without obtaining the prior written approval of the other
party hereto, which approval will not be unreasonably withheld or delayed,
unless disclosure is otherwise required by applicable Law, provided that, to the
extent required by applicable Law, the party intending to make such release
shall use its commercially reasonable efforts consistent with such applicable
Law to consult with the other party with respect to the text thereof.

                                       15

<PAGE>

                                   ARTICLE 6.
                               CLOSING CONDITIONS

     6.1 Conditions to the Obligations of Both Parties. Each Party's obligation
to consummate the Transactions contemplated by this Agreement are subject to the
satisfaction or waiver, on or prior to the Closing Date, of each of the
following conditions, as applicable to the Party specified:

          (a) The FCC shall have approved the application for consent to the
change of control of the holder of the Licenses, such approval shall have become
a Final Order, and such Final Order shall be in full force and effect; and all
other notices, filings and Consents required to be made or obtained prior to the
Closing by either Party or any of its respective Affiliates with any
Governmental Body or from any third party in connection with the execution and
delivery of this Agreement and the consummation of the Transactions shall have
been made or obtained.

          (b) No preliminary or permanent injunction or other order, decree or
ruling issued by a Governmental Body, nor any Law promulgated or enacted by any
Governmental Body, shall be in effect that would impose material limitations on
the ability of either Party to consummate the Transactions.

     6.2 Conditions to the Obligations of Seller. Seller's obligation to
consummate the Transactions contemplated by this Agreement are subject to the
satisfaction or waiver on or prior to the Closing Date of each of the following
conditions:

          (a) The representations and warranties of Purchaser contained herein
shall be true and correct in all material respects (except for representations
and warranties that are qualified as to materiality, which shall be true and
correct) as of the Closing as if made on and as of the Closing Date (except that
representations and warranties that are made as of a specific date need be so
true and correct only as of such date).

          (b) The covenants and agreements of Purchaser to be performed under
this Agreement on or prior to the Closing shall have been duly performed in all
material respects.

          (c) Seller shall have received a certified copy of Purchaser's
corporate resolution authorizing the Transactions.

          (d) Purchaser shall have delivered the Purchase Price to Seller in
accordance with Section 2.2.

     6.3 Conditions to the Obligations of Purchaser. Purchaser's obligation to
consummate the Transactions contemplated by this Agreement are subject to the
satisfaction or waiver on or prior to the Closing Date of each of the following
conditions:

          (a) The representations and warranties of Seller contained herein
shall be true and correct in all material respects (except for representations
and warranties that are qualified as to materiality, which shall be true and
correct) as of the Closing as if made on and as of the Closing Date (except that
representations and warranties that are made as of a specific date need be so
true and correct only as of such date).

                                       16

<PAGE>

          (b) The covenants and agreements of Seller to be performed under this
Agreement on or prior to the Closing shall have been duly performed in all
material respects.

          (c) Seller shall have discharged all liabilities of the Company other
than ongoing liabilities under the Leases and Tower Leases, including, without
limitation, the release of the liens set forth on Schedule 6.3(c).

          (d) Purchaser shall have completed its due diligence of the Licenses
and Leases to its reasonable satisfaction.

          (e) Seller shall have delivered to Purchaser the following:

               (i)  certificate(s) representing the Shares and a stock power
                    signed in blank transferring the Shares to Purchaser, in
                    forms acceptable to Purchaser and Purchaser's counsel.

               (ii) such other instruments and documents as Purchaser may
                    reasonably require to vest in Purchaser all right, title and
                    interest of Seller in and to the Shares;

               (iii) a certificate of Seller dated the Closing Date certifying
                    that the conditions specified in Sections 6.2(a), (b) and
                    (c) have been met.

               (iv) written resignations of each of the officers and directors
                    of the Company, effective as of the Closing Date.

                                   ARTICLE 7.
                                   TERMINATION

     7.1 Termination. This Agreement may be terminated at any time:

          (a) by mutual written consent of Purchaser and Seller;

          (b) by either Purchaser or Seller if (A) there shall be any law or
regulation that makes consummation of the Transactions illegal or otherwise
prohibited, or (B) any judgment, injunction, order or decree of any court or
other Governmental Entity having competent jurisdiction enjoining Purchaser and
Seller from consummating the Transaction is entered and such judgment,
injunction or order shall have become final and non-appealable;

          (c) by either party upon the material breach of the other party if
such breach is not cured within thirty (30) days following written notice by the
non-breaching party which notice shall describe the breach; provided, however,
such thirty (30) day shall be extended to ninety (90) days if the breach by its
nature cannot be cured within such thirty (30) day period and if the breaching
party promptly commences to cure the breach within such thirty (30) day period
and continues to proceed thereafter with reasonable diligence; or

                                       17

<PAGE>

          (d) by Purchaser if the Closing has not occurred on or before the
first anniversary of the Effective Date, provided that the failure to close on
or before such date is not the fault of Purchaser.

     7.2 Effect of Termination. In the event of a termination of this Agreement,
neither Party shall have any liability or further obligation to the other,
except that

          (a) if the Agreement is terminated, Seller will, within 2 business
days immediately following the termination of this Agreement, refund to
Purchaser an amount equal to the Advanced Deposit, which obligation will survive
the termination of this Agreement; provided, however that if the Agreement is
terminated pursuant to (i) Section 7.1(a); (ii) Section 7.1(b); (iii) Section
7.1(c) following a material breach by Seller; or (iv) Section 7.1(d) because the
closing conditions of Purchaser set forth in Sections 6.1 and 6.3 have not been
satisfied by the first anniversary of the Effective Date, in which case the
Advanced Deposit shall be returned to Purchaser. Notwithstanding the foregoing,
if this agreement is terminated by Seller pursuant to Section 7.1(c) following a
material breach by Purchaser, then the Advanced Deposit shall be retained by
Seller;

          (b) nothing herein will relieve a Party from liability for any breach
by such Party of this Agreement; and

          (c) the provisions of this Article 7, Article 8 and Article 9 shall
survive the termination of this Agreement. Whether or not Closing occurs, all
costs and expenses incurred in connection with this Agreement and the
Transactions shall be paid by the Party incurring such expenses.

                                   ARTICLE 8.
                                 INDEMNIFICATION

     8.1 Indemnification.

          (a) Seller hereby agrees to indemnify and hold Purchaser, the Company,
and their respective directors, officers, employees, Affiliates, shareholders
(other than Seller), agents, successors and assigns (collectively, the
"Purchaser Indemnified Parties") harmless from and against any and all notices,
actions, suits, proceedings, claims, demands, assessments, judgments, losses,
liabilities, obligations, damages, costs, penalties and expenses, including
attorneys' and other professionals' fees and disbursements ("Losses") based
upon, attributable to or resulting from:

               (i)  the failure of any representation or warranty of Seller set
                    forth in Article III hereof to be true and correct in all
                    respects as of the date made;

               (ii) the breach of any covenant or other agreement on the part of
                    Seller under this Agreement;

                                       18

<PAGE>

               (iii) any claims, actions, suits, proceedings or investigations
                    relating in any way to any acts, errors, omissions,
                    operations or other activities of or relating to the Company
                    which are not disclosed (or if disclosed, to the extent such
                    applicable item is underaccrued) in or pursuant to this
                    Agreement with respect to periods prior to the Closing Date,
                    regardless of when such claims, actions, suits, proceedings
                    or investigations are made or commenced;

     For purposes of Section 8.1(a)(i), the amount of Losses in respect of any
breach of a representation or warranty shall be determined without regard to any
limitation or qualification as to materiality, Seller's Material Adverse Effect,
Company Material Adverse Effect, knowledge or similar language set forth in such
representation or warranty.

          (b) Purchaser hereby agrees to indemnify and hold Seller and its
Affiliates, agents, successors and assigns (collectively, the "Seller
Indemnified Parties") harmless from and against all Losses based upon,
attributable to or resulting from:

               (i)  the failure of any representation or warranty of Purchaser
                    set forth in Article IV hereof, or any representation or
                    warranty contained in any certificate delivered by or on
                    behalf of Purchaser pursuant to this Agreement, to be true
                    and correct as of the date made; and

               (ii) the breach of any covenant or other agreement on the part of
                    Purchaser under this Agreement.

     8.2 Tax Matters. Seller shall indemnify each of the Purchaser Indemnified
Parties and hold them harmless from and against, any Losses attributable to (i)
all Taxes (or the non-payment thereof) of the Company for all taxable periods
ending on or before the Closing Date and for that portion through the end of the
Closing Date for any taxable period that includes (but does not end on) the
Closing Date ("Pre-Closing Tax Period"), and (ii) any and all Taxes of any
person (other than the Company) imposed on the Company as a transferee or
successor, by contract or any Law, which Taxes relate to an event or transaction
occurring on or prior to the Closing Date. In the case of any taxable period
that includes (but does not end on) the Closing Date (a "Straddle Period"), the
amount of any Taxes based on or measured by income or receipts of the Company
for the Pre-Closing Tax Period shall be determined based on an interim closing
of the books as of the close of business on the Closing Date and the amount of
other Taxes of the Company for a Straddle Period which relate to the Pre-Closing
Tax Period shall be deemed to be the amount of such Tax for the entire taxable
period multiplied by a fraction the numerator of which is the number of days in
the taxable period ending on the Closing Date and the denominator of which is
the number of days in such Straddle Period.

     8.3 Existing Rights of First Refusal. If any party holding a right of first
refusal as to any of the spectrum covered by any License or any Lease (an
"Existing ROFR") exercises or purports to exercise such Existing ROFR, then at
such time that the Company or Purchaser is no longer entitled to full use of the
spectrum covered by such Lease or License pursuant to the terms of such Lease or
License (a "Loss of Rights"), then Seller shall indemnify each of the Purchaser
Indemnified Parties and hold them harmless from and against, any Losses
attributable to such

                                       19

<PAGE>

Loss of Rights, which shall include, without limitation, the value of the CPOPs
covered by such spectrum that is the subject of the Loss of Rights.

     8.4 Indemnification Procedures.

          (a) In the event that any claim shall be asserted by any Person in
respect of which payment may be sought under this Article 8 (each, a "Claim"),
the indemnified party shall reasonably and promptly cause written notice of the
assertion of any Claim of which it has knowledge which is covered by this
indemnity to be forwarded to the indemnifying party. The indemnifying party
shall have the right, at its sole option and expense, to be represented by
counsel of its choice, which must be reasonably satisfactory to the indemnified
party, and to defend against, negotiate, settle or otherwise deal with any Claim
which relates to any Losses indemnified against hereunder. If the indemnifying
party elects to defend against, negotiate, settle or otherwise deal with any
Claim which relates to any Losses indemnified against hereunder, it shall within
five (5) days (or sooner, if the nature of the Claim so requires) notify the
indemnified party of its intent to do so. If the indemnifying party elects not
to defend against, negotiate, settle or otherwise deal with any Claim which
relates to any Losses indemnified against hereunder, fails to notify the
indemnified party of its election as herein provided or contests its obligation
to indemnify the indemnified party for such Losses under this Agreement, the
indemnified party may defend against, negotiate, settle or otherwise deal with
such Claim. If the indemnified party defends any Claim, then the indemnifying
party shall reimburse the indemnified party for the Expenses of defending such
Claim upon submission of periodic bills. If the indemnifying party shall assume
the defense of any Claim, the indemnified party may participate, at his or its
own expense, in the defense of such Claim; provided, however, that such
indemnified party shall be entitled to participate in any such defense with
separate counsel at the expense of the indemnifying party if, so requested by
the indemnifying party to participate or (ii) in the reasonable opinion of
counsel to the indemnified party, a conflict or potential conflict exists
between the indemnified party and the indemnifying party that would make such
separate representation advisable; and provided, further, that the indemnifying
party shall not be required to pay for more than one such counsel for all
indemnified parties in connection with any Claim. The parties hereto agree to
cooperate fully with each other in connection with the defense, negotiation or
settlement of any such Claim.

          (b) After any final judgment or award shall have been rendered by a
court, arbitration board or administrative agency of competent jurisdiction and
the expiration of the time in which to appeal therefrom, or a settlement shall
have been consummated, or the indemnified party and the indemnifying party shall
have arrived at a mutually binding agreement with respect to a Claim hereunder,
the indemnified party shall forward to the indemnifying party notice of any sums
due and owing by the indemnifying party pursuant to this Agreement with respect
to such matter.

          (c) The failure of the indemnified party to give reasonably prompt
notice of any Claim shall not release, waive or otherwise affect the
indemnifying party's obligations with respect thereto except to the extent that
the indemnifying party can demonstrate actual loss and prejudice as a result of
such failure.

                                       20

<PAGE>

     8.5 Survival of Representations and Warranties. The parties hereto hereby
agree that the representations and warranties contained in this Agreement or in
any certificate, document or instrument delivered in connection herewith, shall
survive the execution and delivery of this Agreement, and the Closing hereunder,
regardless of any investigation made by the parties hereto; provided, however,
that any claims or actions with respect thereto shall terminate unless written
notice of such claims is given to Seller or Purchaser, as applicable, or such
actions are commenced within two (2) years after the Closing Date; provided,
however, any claims or actions with respect to the representations, warranties
and covenants made by Seller regarding Taxes shall terminate unless written
notice of such claims is given to Seller or Purchaser, as applicable, or such
actions are commenced within sixty (60) days after the applicable statute of
limitations expires with respect to such claim.

                                   ARTICLE 9.

     9.1 Code Section 338(h)(10) Election. At Purchaser's option, Seller shall
join with Purchaser and the Company in making an election under Code Section
338(h)(10) (and any corresponding election under state, local, and foreign tax
law) with respect to the purchase and sale of the Company's stock hereunder
(collectively, a "338(h)(10) Election"). Seller shall include any income, gain,
loss, deduction, or other Tax item resulting from the Section 338(h)(10)
Election on its Tax Returns to the extent required by applicable law. Seller
shall also pay any Tax imposed on the Company attributable to the making of the
Section 338(h)(10) Election, including (i) any Tax imposed under Code Sections
1374 and 1375, (ii) any Tax imposed under Treasury Regulation Section
1.338(h)(10)-1(e)(5), or (iii) any state, local or foreign Tax imposed on the
Company's gain, and Seller shall indemnify Purchaser and the Company against any
such Taxes as provided for in Section 8.2.

     9.2 Purchase Price Allocation. Purchaser, the Company, and Seller agree
that the Purchase Price and the liabilities of the Company (plus other relevant
items) will be allocated to the assets of the Company for all purposes
(including Tax and financial accounting) as shown on the Allocation Schedule
attached hereto as Exhibit A. Purchaser, the Company, and Seller shall file all
Tax Returns (including amended returns and claims for refunds) in a manner
consisted with such allocation.

     9.3 S Corporation Status. The Company and Seller shall not revoke the
Company's election to be taxed as an S corporation within the meaning of Code
Sections 1361 and 1362. The Company and Seller shall not take or allow any
action other than the sale of the Company's stock pursuant to this Agreement
that would result in the termination of the Company's status as a validly
electing S corporation within the meaning of Code Sections 1361 and 1362.

     9.4 Tax Returns. Seller shall timely prepare and submit to Purchaser for
review, approval, and filing (A) the Form 1120S for the Company for the period
ending on the Closing Date and corresponding state income Tax Returns for such
period, (B) any sales and use Tax returns with respect to the Pre-Closing Tax
Period that are filed after the Closing Date, (C) any property Tax Returns with
respect to the Pre-Closing Tax Period that are filed after the Closing Date, and
(D) any excise Tax Returns with respect to the Pre-Closing Tax Period that are
filed after the Closing Date. Seller shall make such revisions to the Tax
Returns described in the preceding sentence as are reasonably requested by
Purchaser.

                                       21

<PAGE>

     9.5 Cooperation on Tax Matters. Purchaser, the Company, and Seller shall
cooperate fully, as and to the extent reasonably requested by the other party,
in connection with the filing of Tax Returns and any audit, litigation or other
proceeding with respect to Taxes. Such cooperation shall include the retention
and (upon the other party's request) the provision of records and information
reasonably relevant to any such audit, litigation, or other proceeding and
making employees available on a mutually convenient basis to provide additional
information and explanation of any material provided hereunder. The Company,
Seller, and Purchaser agree (A) to retain all books and records with respect to
Tax matters pertinent to the Company relating to any taxable period beginning
before the Closing Date until the expiration of the statue of limitations (and,
to the extend notified by Purchaser or Seller, any extensions thereof) of the
respective taxable periods, and to abide by all record retention agreements
entered into with any Taxing Authority, and (B) to give the other party
reasonable written notice prior to transferring, destroying or discarding any
such books and records and, if the other party so requests, the Company or
Seller, as the case may be, shall allow the other party to take possession of
such books and records. Purchaser and Seller further agree, upon request, to use
their best efforts to obtain any certificate or other document from any Taxing
Authority or any other person as may be necessary to mitigate, reduce or
eliminate any Tax that could be imposed (including with respect to the
transaction contemplated hereby).

                                  ARTICLE 10.
                                 MISCELLANEOUS

     10.1 Certain Definitions.

          (a) For purposes of this Agreement, the following terms shall have the
meanings specified in this Section 10.1:

     "Affiliate" means, with respect to any Person, any other Person that,
directly or indirectly through one or more intermediaries, controls, or is
controlled by, or is under common control with, such Person, and the term
"control" (including the terms "controlled by" and "under common control with")
means the possession, directly or indirectly, of the power to direct or cause
the direction of the management and policies of such Person, whether through
owners of voting securities, by contract or otherwise.

     "Agreement" shall have the meaning set forth in the preamble.

     "BRS" means Broadband Radio Services and was formerly known as "MMDS".

     "Benefit Plan" shall have the meaning set forth in Section 3.13.

     "CPOPs" means the product of the number of households in a particular
Market Area multiplied by the number of Channels licensed to the applicable
entity within such Market Area.

     "Channels" means the channels for EBS and BRS licensed under a FCC License.

     "Claim" shall have the meaning set forth in Section 8.4.

     "Closing" shall have the meaning set forth in Section 2.3.

                                       22

<PAGE>

     "Closing Date" shall have the meaning ascribed to such term in Section 2.3

     "Closing Payment" shall have the meaning set forth in Section 2.2.

     "Code" means the Internal Revenue Code of 1986, as amended.

     "Common Stock" shall have the meaning set forth in Section 3.3(a).

     "Company" shall have the meaning set forth in the recitals.

     "Company Material Adverse Effect" shall have the meaning set forth in
Section 3.6.

     "Contract" shall have the meaning set forth in Section 3.8.

     "EBS" means Educational Broadband Radio Service and was formerly known as
ITFS.

     "Employee" shall have the meaning set forth in Section 3.14(a).

     "Employee Agreement" shall mean any Contract with an Employee.

     "Environmental Laws" shall have the meaning set forth in Section 3.12.

     "ERISA" shall have the meaning set forth in Section 3.13(a).

     "Exchange Act" shall have the meaning set forth in Section 3.18.

     "Existing ROFR" shall have the meaning set forth in Section 8.3.

     "FCC License" means any license, permit, certificate, approval, franchise,
consent, waiver, registration or other authorization issued by the FCC.

     "FCC Rules" means Title 47 of the Code of Federal Regulations, as amended,
FCC policies and published FCC decisions.

     "Final Order" means an action or decision of a Governmental Body as to
which (i) no request for a stay or similar request is pending, no stay is in
effect, the action or decision has not been vacated, reversed, set aside,
annulled or suspended and any deadline for filing such request that may be
designated by statute or regulation has passed, (ii) no petition for rehearing
or reconsideration or application for review is pending and the time for the
filing of any such petition or application has passed, (iii) the applicable
Governmental Body does not have the action or decision under reconsideration on
its own motion and the time within which it may effect such reconsideration has
passed, and (iv) no appeal is pending including other administrative or judicial
review, or in effect and any deadline for filing any such appeal that may be
designated by statute or rule has passed.

     "Governmental Body" means any government or governmental or regulatory body
thereof, or political subdivision thereof, whether federal, state, local or
foreign, or any agency, instrumentality or authority thereof, or any court or
arbitrator (public or private).

                                       23

<PAGE>

     "Hazardous Substances" shall have the meaning set forth in Section 3.12.

     "Intellectual Property Rights" shall have the meaning set forth in Section
3.9.

     "Law" means any federal, state, local or foreign law (including common
law), statute, code, ordinance, rule, regulation or other requirement.

     "Lease" means the interest held by the Company to use spectrum granted to
the holder of an FCC License for EBS or BRS.

     "Legal Proceeding" shall mean any action, suit, litigation, arbitration
proceeding (including any civil, criminal, administrative, investigative or
appellate proceeding), hearing, inquiry, audit, examination or investigation
commenced, brought, conducted or heard by or before, or otherwise involving any
court or other Governmental Body or any arbitrator or arbitration panel.

     "Lien" means any lien, pledge, mortgage, deed of trust, security interest,
claim, lease, charge, option, right of first refusal, easement, servitude,
transfer restriction under any shareholder or similar agreement, encumbrance or
any other restriction or limitation whatsoever.

     "Losses" shall have the meaning set forth in Section 8.1.

     "Loss of Rights" shall have the meaning set forth in Section 8.3.

     "Market Area" means the exclusive service area of a FCC License under
applicable FCC Rules.

     "Order" means any order, injunction, judgment, decree, ruling, writ,
assessment or arbitration award or a Governmental Body.

     "Ordinary Course of Business" means the ordinary and usual course of day to
day operations of the Company or the Purchaser, as applicable, business as
conducted prior to the Closing.

     "Permits" means any approvals, authorizations, consents, licenses, permits
or certificates.

     "Person" means any individual, corporation, partnership, firm, joint
venture, association, joint-stock company, trust, unincorporated organization,
Governmental Body or other entity.

     "Purchaser" shall have the meaning set forth in the preamble.

     "Purchaser Documents" shall have the meaning set forth in Section 4.2.

     "Purchaser Indemnified Parties" shall have the meaning set forth in Section
8.1(a).

     "Purchase Price" shall have the meaning set forth in Section 2.1.

     "Securities Act" shall have the meaning set forth in Section 3.18.

                                       24

<PAGE>

     "Seller" shall have the meaning set forth in the preamble.

     "Seller Documents" shall have the meaning set forth in Section 3.2.

     "Seller Indemnified Parties" shall have the meaning set forth in Section
8.1(b).

     "Seller Material Adverse Effect" means any material adverse change having,
or any event or condition which has had, or could reasonably be expected to
have, a material adverse effect on the ability of Seller to consummate the
transactions contemplated by this Agreement.

     "Shares" shall have the meaning set forth in the recitals.

     "Station Assets" means (i) the Tower Leases and (ii) the transmission and
reception equipment, studio-to-transmitter linking equipment, tower equipment,
test equipment, antennas, headend equipment, machinery, and other physical
assets (including embedded software and Intellectual Property Rights
incorporated therein), buildings, improvements and fixtures, and all
appurtenances thereto, whether or not located at a site covered by a Tower
Lease, used or held for use by the Company in connection with the operation of
any EBS or BRS station used by the Company, provided it is used by the Company
in connection with the operation of such station.

     "Subsidiary" means any Person of which a majority of the outstanding voting
securities or other voting equity interests are owned, directly or indirectly,
by the Company.

     "Tax" or "Taxes" means any taxes, assessment, duties, fees, levies,
imposts, deductions, or withholdings, including income, gross receipts, ad
valorem, value added, excise, real or personal property, asset, sales, use,
license, payroll, transaction, capital, net worth and franchise taxes, estimated
taxes, withholding, employment, social security, workers compensation, utility,
severance, production, unemployment compensation, occupation, premium, windfall
profits, transfer and gains taxes, or other governmental charges of any nature
whatsoever, imposed by any Taxing Authority of any government or country or
political subdivision of any country, and any liabilities with respect thereto,
including any penalties, additions to tax, fines or interest thereon and
includes any liability for Taxes of another person by contract, as a transferee
or successor, under Treasury Regulation 1.1502-6 or analogous state, local or
foreign law provision or otherwise.

     "Tax Return" means any return (including any information return), report,
statement, schedule, notice, form, or other document or information filed with
or submitted to, or required to be filed with or submitted to, any Taxing
Authority in connection with the determination, assessment, collection, or
payment of any Tax or in connection with the administration, implementation, or
enforcement of or compliance with any Law relating to any Tax.

     "Taxing Authority" shall mean the Internal Revenue Service and any other
Governmental Body responsible for the administration of any Tax.

     "Tower Leases" means the Contracts relating to the use by the Company of
Transmission Towers or other transmission equipment (and the embedded software
and Intellectual Property Rights incorporated therein) on the Tower Sites.

                                       25

<PAGE>

     "Tower Sites" means any real property used or occupied by the Company on
which Transmission Towers used by the Company are located.

     "Transactions" means the transactions contemplated by this Agreement.

     "Transmission Towers" means any towers or other "antenna structures" as
defined by the FCC in Part 17 of the FCC Rules.

          (b) Other Definitional and Interpretive Matters. Unless otherwise
expressly provided, for purposes of this Agreement, the following rules of
interpretation shall apply:

     Calculation of Time Period. When calculating the period of time before
which, within which or following which any act is to be done or step taken
pursuant to this Agreement, the date that is the reference date in calculating
such period shall be excluded. If the last day of such period is a non-Business
Day, the period in question shall end on the next succeeding Business Day.

     Dollars. Any reference in this Agreement to $ shall mean U.S. dollars.

     Exhibits/Schedules. The Exhibits and Schedules to this Agreement are hereby
incorporated and made a part hereof and are an integral part of this Agreement.
All Exhibits and Schedules annexed hereto or referred to herein are hereby
incorporated in and made a part of this Agreement as if set forth in full
herein. Any capitalized terms used in any Schedule or Exhibit but not otherwise
defined therein shall be defined as set forth in this Agreement.

     Gender and Number. Any reference in this Agreement to gender shall include
all genders, and words imparting the singular number only shall include the
plural and vice versa.

     Headings. The provision of a Table of Contents, the division of this
Agreement into Articles, Sections and other subdivisions and the insertion of
headings are for convenience of reference only and shall not affect or be
utilized in construing or interpreting this Agreement. All references in this
Agreement to any "Section" are to the corresponding Section of this Agreement
unless otherwise specified.

     Herein. The words such as "herein," "hereinafter," "hereof," and
"hereunder" refer to this Agreement as a whole and not merely to a subdivision
in which such words appear unless the context otherwise requires.

     Including. The word "including" or any variation thereof means "including,
without limitation" and shall not be construed to limit any general statement
that it follows to the specific or similar items or matters immediately
following it.

          (c) The parties hereto have participated jointly in the negotiation
and drafting of this Agreement and, in the event an ambiguity or question of
intent or interpretation arises, this Agreement shall be construed as jointly
drafted by the parties hereto and no presumption or burden of proof shall arise
favoring or disfavoring any party by virtue of the authorship of any provision
of this Agreement.

                                       26

<PAGE>

     10.2 Payment of Sales, Use or Similar Taxes. Purchaser shall be liable for
and shall pay (and shall indemnify and hold harmless the Seller Indemnified
Parties against) all sales, use, stamp, documentary, filing, recording,
transfer, real estate transfer, registration, duty or similar fees or taxes or
governmental charges (together with any interest or penalty, addition to tax or
additional amount imposed) as levied by any Taxing Authority in connection with
the transactions contemplated by this Agreement.

     10.3 Expenses. Except as otherwise provided in this Agreement, Seller and
Purchaser shall each bear its own expenses incurred in connection with the
negotiation and execution of this Agreement and each other agreement, document
and instrument contemplated by this Agreement and the consummation of the
transactions contemplated hereby and thereby, it being understood that in no
event shall the Company bear any of such costs and expenses.

     10.4 Further Assurances. Seller and Purchaser each agrees to execute and
deliver such other documents or agreements and to take such other action as may
be reasonably necessary or desirable for the implementation of this Agreement
and the consummation of the transactions contemplated hereby.

     10.5 Entire Agreement; Amendments and Waivers. This Agreement (including
the schedules and exhibits hereto) represents the entire understanding and
agreement between the parties hereto with respect to the subject matter hereof
and can be amended, supplemented or changed, and any provision hereof can be
waived, only by written instrument making specific reference to this Agreement
signed by the party against whom enforcement of any such amendment, supplement,
modification or waiver is sought. No action taken pursuant to this Agreement,
including without limitation, any investigation by or on behalf of any party,
shall be deemed to constitute a waiver by the party taking such action of
compliance with any representation, warranty, covenant or agreement contained
herein. The waiver by any party hereto of a breach of any provision of this
Agreement shall not operate or be construed as a further or continuing waiver of
such breach or as a waiver of any other or subsequent breach. No failure on the
part of any party to exercise, and no delay in exercising, any right, power or
remedy hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of such right, power or remedy by such party preclude any other
or further exercise thereof or the exercise of any other right, power or remedy.
All remedies hereunder are cumulative and are not exclusive of any other
remedies provided by law.

     10.6 Governing Law. The validity, meaning and effect of this Agreement
shall be determined in accordance with the laws of the State of California
applicable to contracts made and to be performed in that state.

     10.7 Table of Contents and Headings. The table of contents and Section
headings of this Agreement are for reference purposes only and are to be given
no effect in the construction or interpretation of this Agreement.

     10.8 Notices. All notices and other communications under this Agreement
shall be in writing and shall be deemed given when delivered personally or
mailed by certified mail, return receipt requested, to the parties (and shall
also be transmitted by facsimile to the Persons

                                       27

<PAGE>

receiving copies thereof) at the following addresses (or to such other address
as a party may have specified by notice given to the other party pursuant to
this provision):

     If to Seller, to:
     Kenneth A. Jonsson
     400 Toyopa Drive
     Pacific Palisades, California 90272

     With a copy to:
     Crawford, Scott & McDaniel
     1717 Fourth Street, #300
     Santa Monica, California 90401
     Attention: Don McDaniel
     Facsimile: (310) 393-4250

     If to Purchaser, to:
     Clearwire Corporation
     10210 NE Points Road, Suite 210
     Kirkland, Washington 98033
     Attention: Benjamin G. Wolff
     Facsimile: (425) 828-8061

     With a copy to:
     Davis Wright Tremaine LLP
     2600 Century Square, 1501 Fourth Avenue
     Seattle, Washington 98101
     Attention: Julie Weston
     Facsimile: (206) 628-7699

     10.9 Severability. If any provision of this Agreement is invalid or
unenforceable, the balance of this Agreement shall remain in effect.

     10.10 Binding Effect; Assignment. This Agreement shall be binding upon and
inure to the benefit of the parties and their respective successors and
permitted assigns. Nothing in this Agreement shall create or be deemed to create
any third party beneficiary rights in any person or entity not a party to this
Agreement except as provided below. No assignment of this Agreement or of any
rights or obligations hereunder may be made by either Seller or Purchaser (by
operation of law or otherwise) without the prior written consent of the other
parties hereto and any attempted assignment without the required consents shall
be void; provided, however, Purchaser may assign this Agreement to an Affiliate.

     10.11 Counterparts. This Agreement may be executed in one or more
counterparts, each of which will be deemed to be an original copy of this
Agreement and all of which, when taken together, will be deemed to constitute
one and the same agreement.

            [THE REMAINDER OF THE PAGE IS INTENTIONALLY LEFT BLANK.]

                                       28

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their respective officers thereunto duly authorized, as of the date
first written above.

                                        PURCHASER

                                        CLEARWIRE CORPORATION

                                        By: /s/ Benjamin G. Wolff
                                            ------------------------------------
                                        Name: Benjamin G. Wolff
                                        Title: Executive Vice President

                                        SELLER:

                                        By: /s/ Kenneth A. Jonsson
                                            ------------------------------------
                                            Kenneth A. Jonsson

                        DECLARATION AND CONSENT OF SPOUSE

     The undersigned (a) consents to the execution of this Agreement by Kenneth
A. Jonsson, who is the undersigned's spouse, and to consummation of the
transactions contemplated by this Agreement by my spouse, and (b) agrees that
the actions and obligations of my spouse under this Agreement shall be binding
upon the undersigned's marital community. The undersigned declares that the
undersigned has had the opportunity to fully and carefully read this Agreement
and to seek the advice of independent counsel with respect to the Agreement and
this Consent.

                                        /s/ Diana A. Jonsson
                                        ----------------------------------------

                  [Signature Page to Stock Purchase Agreement]

                                       29

<PAGE>

                                    EXHIBIT A

                                   ALLOCATION

                                       30
<PAGE>

                      AMENDMENT TO STOCK PURCHASE AGREEMENT

This Amendment to Stock Purchase Agreement ("Amendment") is made and entered
into this 11th day of January, 2005 ("Amendment Date") by and between Fixed
Wireless Holdings, LLC ("Purchaser"), a Delaware limited liability company, and
Kenneth A. Jonsson ("Seller"). This Amendment modifies that certain Stock
Purchase Agreement dated October 22, 2004 made and entered into by and between
Seller and Purchaser ("Agreement").

                                   WITNESSETH

WHEREAS, Clearwire Corporation ("Clearwire") and Seller entered into that
certain Stock Purchase Agreement dated October 22, 2004 ("Agreement"), pursuant
to which Purchaser desires to purchase, and Seller desires to sell, Two Million
(2,000,000) shares of the common stock, $1.00 par value per share (the
"Shares"), of Jonsson Communications Corporation, a California corporation (the
"Company"), which constitutes all of the issued and outstanding shares of
capital stock of the Company;

WHEREAS, on December 16, 2004, Clearwire assigned to Purchaser, and Purchaser
assumed, all of Clearwire's rights and obligations under the Agreement in
accordance with Section 10.10 of the Agreement;

WHEREAS, Purchaser and Seller desire to modify the Agreement to remove the
License for WND625 and to clarify the status of the Licenses for WND623 and
WND624 as set forth herein; and

WHEREAS, all capitalized terms used herein have the same meaning ascribed to
them in the Agreement

NOW, THEREFORE, in consideration of the premises and the mutual promises
hereinafter set forth, the receipt and sufficiency of which is hereby
acknowledged, Purchaser and Seller hereby mutually agree to amend the Agreement
as follows:

                        TERMS AND CONDITIONS OF AMENDMENT

1. Purchaser and Seller hereby agree to delete the License for WND625 (ITFS High
Power Booster) in its entirety from Schedule 3.20(a). Except as set forth in
this Amendment, any and all other references to the License for WND625 are also
hereby deleted in their entirety from the Agreement. Notwithstanding anything in
the Agreement to the contrary, Purchaser and Seller agree and acknowledge that
the facilities to operate WND625 have not been constructed and that the License
for WND625 has not been certified by the FCC as having been constructed.
Purchaser and Seller hereby agree that each party will make no use of the
License for WND625 prior to or after the Closing Date. Purchaser and Seller
hereby agree that each party will cooperate to take all necessary actions,
including making any and all necessary FCC filings, to cancel the FCC License
for WND625 prior to or following the Closing Date. Purchaser and Seller hereby
agree that, notwithstanding anything in the Agreement to the contrary, the
removal

                                        1

<PAGE>

of the License for WND625 from the Agreement shall not modify the Purchase Price
or any other term or condition set forth in the Agreement.

2. Purchaser and Seller hereby agree and acknowledge that, although the Licenses
for WND623 and WND624 (each an ITFS High Power Booster) continue to remain
listed on Schedule 3.20(a) and continue to remain subject to the terms and
conditions of the Agreement, such Licenses for WND623 and WND624 may be subject
to cancellation by the FCC following the Amendment Date notwithstanding anything
in the Agreement to the contrary. Purchaser and Seller acknowledge that newly
enacted FCC Rules may render moot the requirement for individual FCC
authorizations for the operation of booster stations such as WND623 and WND624.
Purchaser and Seller acknowledge that FCC staff members have informed each party
that the Licenses for WND623 and WND624 may be subject to future cancellation
because they will no longer be required under the new FCC Rules. Purchaser and
Seller hereby each agree that, notwithstanding anything in the Agreement to the
contrary, any such future cancellation of the Licenses for WND623 and/or WND624
shall not modify the Purchase Price or any other term or condition set forth in
the Agreement.

3. Except as modified by this Amendment, all terms and conditions of the
Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be
executed by a duly authorized officer as of the date first written above.

PURCHASER:

FIXED WIRELESS HOLDINGS, LLC

By: /s/ Benjamin G. Wolff
    ---------------------------------
Name: Benjamin G. Wolff
Title: Executive Vice President

SELLER:

By: /s/ Kenneth A. Jonsson
    ---------------------------------
    Kenneth A. Jonsson

                        DECLARATION AND CONSENT OF SPOUSE

     The undersigned (a) consents to the execution of this Amendment by Kenneth
A. Jonsson, who is the undersigned's spouse, and to the consummation of the
transaction contemplated by the Agreement as amended hereby by my spouse, and
(b) agrees that the actions and obligations of my spouse under the Agreement as
amended hereby shall be binding upon the undersigned's marital community. The
undersigned declares that the undersigned has had the opportunity to fully and
carefully read this Amendment and to seek the advice of independent counsel with
respect to the Agreement, this Amendment and this Consent.

                                        /s/ Diana G. Jonsson
                                        ----------------------------------------

                                        2

<PAGE>

                                    EXHIBIT A

                                   ALLOCATION

<TABLE>
<CAPTION>
Class                                   Allocation
-----                                   ----------
<S>                                     <C>
Class V - All Assets other than Class   $  465,059
   I, II, III, IV, VI and VII Assets

Class VI - Section 197 Intangibles      $7,734,941
                                        ----------
Total                                   $8,200,000
</TABLE>

                                        1

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