Document:

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                                                                   EXHIBIT 10.24

                                                                  Execution Copy

                           PURCHASE AND SALE AGREEMENT

                                 BY AND BETWEEN

                      MISSION BROADCASTING OF JOPLIN, INC.

                                     "BUYER"

                                       AND

                        GOCOM BROADCASTING OF JOPLIN, LLC

                                       AND

                        GOCOM OF JOPLIN LICENSE SUB, LLC

                                    "SELLERS"

                          Dated as of December 31, 2001

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                                TABLE OF CONTENTS

ARTICLE I DEFINITIONS........................................................1
      1.1   Definitions......................................................1
      1.2   Singular/Plural; Gender..........................................9

ARTICLE II PURCHASE AND SALE................................................10
      2.1   Purchase and Sale...............................................10
      2.2   Payment of Purchase Price.......................................10
      2.3   Closing Date Deliveries.........................................10
      2.4   Proration; Adjustments to Purchase Price........................10
      2.5   Taxes...........................................................13
      2.6   [Intentionally Omitted].........................................13
      2.7   Allocation of Purchase Price....................................13
      2.8   Access..........................................................13
      2.9   Accounts Receivable.............................................14

ARTICLE III GOVERNMENTAL APPROVALS AND CONTROL OF STATION...................15
      3.1   FCC Consent.....................................................15
      3.2   Control Prior to Closing........................................15

ARTICLE IV REPRESENTATIONS AND WARRANTIES OF SELLERS........................15
      4.1   Organization....................................................15
      4.2   Authorization; Enforceability...................................16
      4.3   Absence of Conflicting Agreements...............................16
      4.4   Purchased Assets................................................17
      4.5   Title to Purchased Assets; Liens and Encumbrances...............17
      4.6   Equipment.......................................................17
      4.7   The Contracts...................................................17
      4.8   Intangible Property.............................................18
      4.9   Real Property...................................................18
      4.10  The Leases......................................................19
      4.11  Financial Statements and Interim Financial Statements...........20
      4.12  No Changes......................................................20
      4.13  No Litigation; Labor Disputes; Compliance with Laws.............21
      4.14  Taxes...........................................................22
      4.15  Governmental Authorizations.....................................22
      4.16  Compliance with FCC Requirements................................23
      4.17  Insurance.......................................................23
      4.18  Brokers.........................................................23
      4.19  Employees.......................................................23
      4.20  Financial Benefit Plans.........................................23
      4.21  Environmental Compliance........................................24
      4.22  Affiliation Agreement...........................................25

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ARTICLE V REPRESENTATIONS AND WARRANTIES OF BUYER...........................25
      5.1   Organization....................................................25
      5.2   Authorization; Enforceability...................................25
      5.3   Absence of Conflicting Laws and Agreements......................26
      5.4   Brokers.........................................................26
      5.5   FCC Qualification...............................................26
      5.6   Financing.......................................................26
      5.7   Due Diligence...................................................26
      5.8   Absence of Litigation...........................................27

ARTICLE VI CERTAIN MATTERS PENDING THE CLOSING..............................27
      6.1   Notice of Adverse Changes.......................................27
      6.2   Operations Pending Closing......................................27
      6.3   Reports.........................................................28
      6.4   Consents........................................................28
      6.5   Cooperation; Reasonable Efforts; Release........................28
      6.6   Tax Returns and Payments........................................29
      6.7   Release of Liens................................................29
      6.8   Public Announcement.............................................29
      6.9   Exclusivity.....................................................30
      6.10  Real Estate Matters.............................................30
      6.11  Access and Information..........................................30

ARTICLE VII CONDITIONS PRECEDENT TO THE OBLIGATIONS OF BUYER................31
      7.1   Compliance with Agreement.......................................31
      7.2   Representations and Warranties..................................31
      7.3   Deliveries at Closing...........................................32
      7.4   Other Documents.................................................32
      7.5   [Intentionally deleted.]........................................32
      7.6   Absence of Investigations and Proceedings.......................32
      7.7   FCC Consent.....................................................32
      7.8   Licenses........................................................32
      7.9   Release of Liens................................................32

ARTICLE VIII CONDITIONS PRECEDENT TO THE OBLIGATIONS OF SELLERS.............33
      8.1   Compliance with Agreement.......................................33
      8.2   Representations and Warranties..................................33
      8.3   Deliveries at Closing...........................................33
      8.4   Other Documents.................................................33
      8.5   Absence of Investigations and Proceedings.......................33
      8.6   Governmental Consents...........................................33
      8.7   Required Consent and Release....................................33

ARTICLE IX INDEMNIFICATION..................................................34
      9.1   Survival of Representations and Warranties......................34

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      9.2   Survival of Covenants and Agreements............................34
      9.3   Indemnification by Sellers......................................34
      9.4   Indemnification by Buyer........................................35
      9.5   Remedies........................................................36
      9.6   Certain Limitations of Liability................................37
      9.7   Survival........................................................37
      9.8   Determination of Loss and Amount................................37

ARTICLE X FURTHER AGREEMENTS................................................38
      10.1  Event of Loss...................................................38
      10.2  Station Employees...............................................38
      10.3  Non-Competition.................................................39

ARTICLE XI TERMINATION; MISCELLANEOUS.......................................39
      11.1  Termination.....................................................39
      11.2  Rights on Termination; Waiver...................................40
      11.3  Further Assurances..............................................41
      11.4  Survival........................................................41
      11.5  Entire Agreement; Amendment; Waivers............................41
      11.6  Expenses........................................................42
      11.7  Benefit; Assignment.............................................42
      11.8  Confidentiality.................................................42
      11.9  Notices.........................................................43
      11.10 Counterparts; Headings..........................................44
      11.11 Income Tax Position.............................................44
      11.12 Severability....................................................44
      11.13 No Reliance.....................................................44
      11.14 Judicial Interpretation.........................................45
      11.15 Saturdays, Sundays and Legal Holidays...........................45
      11.16 Governing Law...................................................45

                                    EXHIBITS

Assumption Agreement.................................................Exhibit A
Bill of Sale and Assignment..........................................Exhibit B
Buyer's Closing Certificate..........................................Exhibit C
Buyer's Performance Certificate......................................Exhibit D
Assignment and Assumption of Contracts...............................Exhibit E
Assignment and Assumption of Leases..................................Exhibit F
Sellers' Closing Certificate.........................................Exhibit G
Sellers' Performance Certificate.....................................Exhibit H
Assignment and Assumption of Registered Trademarks...................Exhibit I

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                                    SCHEDULES

1.1         Assumed Liabilities
1.2         Contracts
1.2A        Available Program Runs
1.3         Copyrights
1.4         Equipment
1.5         Leases
1.6         Licenses
1.7         Motor Vehicles
1.8         Permitted Liens
1.9         Real Property
1.10        Retained Assets
1.11        Trademarks
4.3         Conflicting Agreements of Sellers
4.5         Title Exceptions/Locations - Personal Property
4.7         Contract Exceptions
4.8         Intangible Property Exceptions
4.9         Real Property Exceptions
4.10        Lease Exceptions
4.11(a)     Financial Statements
4.11(b)     Interim Financial Statements
4.12        Changes
4.13        Litigation
4.14        Tax Exceptions
4.15        FCC License Exceptions
4.16        FCC Equipment Exceptions
4.17        Insurance
4.19        Employees
4.20        Financial Benefit Plans
4.21        Environment
5.3         Conflicts of Buyer
7.6         Investigations and Proceedings
8.7         Required Consents and Releases

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                           PURCHASE AND SALE AGREEMENT

      THIS PURCHASE AND SALE AGREEMENT is made this 31st day of December, 2001,
by and between GOCOM Broadcasting of Joplin, LLC, a Delaware limited liability
company ("Non-License Seller"), GOCOM of Joplin License Sub, LLC, a Delaware
limited liability company ("License Seller") (each a "Seller" and collectively,
"Sellers"), and Mission Broadcasting of Joplin, Inc., a Delaware corporation
("Buyer").

                                R E C I T A L S:

      A. The License Seller owns those licenses, permits and authorizations
issued by the FCC, together with certain related assets (collectively, the "FCC
License Assets") relating to commercial television broadcast Station KODE-TV, in
Joplin, Missouri (the "Station")

      B. Non-License Seller owns the assets of the Station, other than the FCC
License Assets.

      C. Sellers are willing to sell to Buyer and Buyer is willing to purchase
from Sellers, substantially all of the assets, business, properties and rights
of Sellers related to the conduct of the Station on the terms and subject to the
conditions set forth herein.

      D. Sellers and Buyer are entering into a Time Brokerage Agreement ("TBA
Agreement") simultaneously with the execution and delivery of this Agreement
pursuant to which Buyer will provide programming to the Station and sell
advertising time related to such programming, and Seller will air such
programming and advertising, subject to the terms of the TBA Agreement.

      NOW, THEREFORE, in consideration of the Recitals and of the mutual
covenants, conditions and agreements set forth herein and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, it is hereby agreed as follows:

                                    ARTICLE I
                                   DEFINITIONS

      1.1 Definitions. Except as specified otherwise, when used in this
Agreement, the following terms shall have the meanings specified:

      "ABC" shall mean American Broadcasting Companies, Inc.

      "Accounts Payable" shall mean all accounts payable of Sellers (other than
Tradeout Payables) related to the Station as of any date or time of
determination as determined in accordance with generally accepted accounting
principles and Section 2.4; provided that in no event shall "Accounts Payable"
include the accrued vacation of employees;

      "Accounts Receivable" shall mean all accounts receivable of Sellers (other
than Tradeout Receivables) related to the Station as of any date or time of
determination as determined in accordance with generally accepted accounting
principles and Section 2.4;

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      "Adjustment Amount" shall have the meaning set forth in Section 2.4(d);

      "Adjustment List" shall have the meaning set forth in Section 2.4(d);

      "Adjustment Time" shall have the meaning set forth in Section 2.4(a);

      "Affiliate" of a Person shall mean any other Person that directly or
indirectly through one or more intermediaries, controls, is controlled by, or is
under common control with such Person;

      "Affiliation Agreement" shall mean the network affiliation agreement by
and between ABC and Eastern Broadcasting Corporation, predecessor-in-interest of
Sellers, dated as of November 22, 1995, as amended and supplemented.

      "Agreement" shall mean this Purchase and Sale Agreement, together with the
Schedules and the Exhibits attached hereto, as the same shall be amended from
time to time in accordance with the terms hereof;

      "Assumed Contract" shall mean any Contract described in clause (b) of the
definition of the term "Assumed Liabilities";

      "Assumed Liabilities" shall mean (a) the liabilities of Sellers, if any,
listed on Schedule 1.1; (b) the obligations of Sellers under (i) the Contracts
listed on Schedule 1.2, (ii) Contracts not required pursuant to Section 4.7 to
be listed on Schedule 1.2 (other than Contracts described in clauses (iii) or
(iv) of Section 4.7(a)), (iii) Contracts entered into after the date hereof and
prior to the Closing Date in accordance with this Agreement, and (iv) the
Leases, in each case arising from and accruing with respect to the operation of
the Station after the Closing Date, and in each case except those Contracts and
Leases, if any, included in the Retained Assets; (c) the liabilities,
obligations and claims resulting from the operation of the Station following (i)
the Adjustment Time and prior to the Closing Date to the extent such
liabilities, obligations and claims have actually been taken into account in
adjusting the Purchase Price pursuant to Section 2.4, and (ii) the effective
time of the Closing; (d) liabilities under Permitted Liens and (e) Buyer's
obligations and liabilities under Section 10.2; provided that, without affecting
Sellers' rights under the TBA Agreement, Assumed Liabilities shall not include
(A) liabilities of Sellers arising out of any facts, circumstances or actions
that constitute a misrepresentation or breach of any warranty or covenant by
Sellers made in this Agreement or the TBA Agreement, (B) the Sellers'
obligations under this Agreement or the TBA Agreement, (C) liabilities arising
out of the termination of employees of the Station prior to the Adjustment Time,
(D) any indebtedness for borrowed money of the Sellers, (E) any income taxes
incurred by the Sellers during the period of operations under the TBA Agreement,
(F) any liabilities of Sellers resulting from, or arising out of, relating to,
in the nature of or caused by any breach of contract, breach of warranty, tort,
infringement, claim or lawsuit relating to any Assumed Contract for the period
prior to the Adjustment Time, (G) the liabilities of Sellers for the accrued
vacation of their employees, and (H) any liabilities and obligations under the
Master Site Lease Agreement that is part of the SpectraSite Agreements which
relate to the period prior to the Closing or relate to any property not included
in the Purchased Assets or arise under Section 2.7 thereof (unless, with respect
to such Section 2.7, Buyer's lenders consent to such assumption);

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      "Assumption Agreement" shall mean an instrument in the form of Exhibit "A"
attached hereto by which the Assumed Liabilities shall be assumed by Buyer;

      "Benefit Arrangements" shall mean a benefit program or practice of Sellers
providing for bonuses, incentive compensation, vacation pay, severance pay,
insurance, restricted stock, stock options, employee discounts, company cars,
tuition reimbursement or any other perquisite or benefit (including, without
limitation, any fringe benefit under Section 132 of the Code) to employees,
officers or independent contractors that is not a Plan;

      "Bill of Sale and Assignment" shall mean an instrument in the form of
Exhibit "B" attached hereto, by which Sellers shall convey to Buyer title to the
Customer Lists, the Equipment, the Intangible Property, the Licenses, the
Miscellaneous Assets, the Motor Vehicles, the Records and the Trade Secrets;

      "Buyer's Closing Certificate" shall mean the certificate of Buyer in the
form of Exhibit "C" attached hereto;

      "Buyer's Opinion of Counsel" shall mean the opinion of counsel of Buyer in
a form reasonably acceptable to Buyer and Sellers;

      "Buyer's Performance Certificate" shall mean the certificate of Buyer in
the form of Exhibit "D" attached hereto;

      "Cable Act" shall mean the Cable Television Consumer Protection and
Competition Act of 1992, Pub. L. No. 102-385, 106 Stat. 1460 (1992), as amended;

      "Cash" shall mean all moneys of Sellers, whether in the form of cash, cash
equivalents, marketable securities, short-term investments or deposits in bank
or other financial institution accounts of any kind;

      "Closing" shall mean the conference to be held at 10:00 a.m., New York,
New York time on the Closing Date at such place as the parties may mutually
agree to in writing, at which time the transactions contemplated by this
Agreement shall be consummated;

      "Closing Date" shall mean (a) September 30, 2002 or such later date on
which a Final Order is issued, unless extended as provided in Section 7.1, or
(b) such other date as Buyer and Sellers may agree upon in writing. The Closing
shall be deemed effective as of 12:01 a.m., Joplin, Missouri time, on the
Closing Date;

      "Code" shall mean the Internal Revenue Code of 1986, as amended;

      "Collections" shall have the meaning set forth in Section 2.9;

      "Collection Period" shall have the meaning set forth in Section 2.9;

      "Communications Act" means the Communications Act of 1934, as amended,
together with the rules, regulations and policies of the FCC;

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      "Contract Assignment" shall mean the Assignment and Assumption of
Contracts, in the form of Exhibit "E" attached hereto, by which Sellers shall
assign the Assumed Contracts to Buyer and Buyer shall assume the Assumed
Liabilities arising under such Contracts;

      "Contracts" shall mean those agreements (other than those included in the
Retained Assets and other than the Leases) under which the business of the
Station is conducted by Sellers, whether written, oral or implied, including all
contractual obligations incurred by Sellers for the Program Rights, including
without limitation those agreements listed on Schedule 1.2;

      "Copyrights" shall mean all rights of Sellers to copyrights and copyright
applications related to the Station, including without limitation those items
described on Schedule 1.3;

      "Customer Lists" shall mean all lists, documents, written information and
computer tapes and programs and other computer readable media used by or in
Sellers' possession concerning past, present and potential purchasers of
advertising or services from the Station;

      "Eligible Employees" shall have the meaning set forth in Section 10.2;

      "Environmental Laws" shall mean the rules and regulations of the FCC, the
Environmental Protection Agency and any other federal, state or local government
authority pertaining to human exposure to RF radiation and all applicable rules
and regulations of federal, state and local laws, including statutes,
regulations, ordinances, codes, and rules, as amended, relating to the discharge
or removal of air pollutants, water pollutants or process waste water or
hazardous or toxic substances, including, but not limited to, the Federal Solid
Waste Disposal Act, the Federal Clean Air Act, the Federal Clean Water Act, the
Federal Resource Conservation and Recovery Act of 1976, the Federal
Comprehensive Environmental Response, Compensation and Liability Act of 1980,
and the Occupational Safety and Health Act of 1970, each as amended, regulations
of the Environmental Protection Agency, regulations of the Nuclear Regulatory
Agency, regulations of the Occupational Safety and Health Administration and
regulations of any state department of natural resources or state environmental
protection agency, now in effect;

      "Equipment" shall mean all machinery, equipment, furniture, fixtures,
furnishings, toolings, parts, blank films and tapes and other items of tangible
personal property owned or leased by Sellers which are used or useable in the
operation of the Station, including without limitation to those items listed on
Schedule 1.4;

      "ERISA" shall mean the Employee Retirement Income Security Act of 1974, as
amended;

      "Event of Loss" shall mean any loss, taking, condemnation, damage or
destruction of or to any of the Purchased Assets or the Station;

      "FCC" means the Federal Communications Commission;

      "FCC Consent" shall mean action by the FCC granting its consent to the
assignment of the Licenses from Sellers to Buyer;

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      "Final Order" shall mean an FCC Consent, with respect to which no action,
request for stay, petition for rehearing or reconsideration, appeal or review by
the FCC on its own motion is pending and as to which the time for filing or
initiation of any such request, petition, appeal or review has expired;

      "Financial Statements" shall mean the financial statements of Sellers
described in Section 4.11(a);

      "Financing Lease" shall mean any Lease that is properly characterized as a
capitalized lease obligation in accordance with generally accepted accounting
principles;

      "Hazardous Materials" shall mean any wastes, substances, or materials
(whether solids, liquids or gases) that are deemed hazardous, toxic, pollutants,
or contaminants, including without limitation, substances defined as "hazardous
wastes," "hazardous substances," "toxic substances," "radioactive materials," or
other similar designations in, or otherwise subject to regulation under, any
Environmental Laws. "Hazardous Materials" includes but is not limited to
polychlorinated biphenyls (PCB's) asbestos, lead-based paints, infectious
wastes, radioactive materials and wastes and petroleum and petroleum products
(including, without limitation, crude oil or any fraction thereof);

      "Indemnity Deductible" shall have the meaning set forth in Section 9.6(c);

      "Intangible Property" shall mean: (a) the Copyrights; (b) the Trademarks;
(c) the Trade Secrets; (d) all of the rights of the Sellers in and to the call
letters "KODE-TV" or "KODE"; and (e) all rights of Sellers in and to all
slogans, phrases or logos of the Station; and (f) all goodwill associated
therewith and with the other Purchased Assets;

      "Interim Financial Statements" shall mean the financial statements of
Sellers described in Section 4.11(b);

      "Internet Web Sites" means all internet domain names of the Station, and
all rights that the Station or Sellers has in the HTML content relating to the
Station located and publicly accessible from those domain names, and the
"visitor" email data base for those sites;

      "Knowledge of Sellers" or "to the Sellers' Knowledge" shall mean,
collectively, the actual knowledge without independent investigation of (i) Ric
Gorman, (ii) the Station's general manager, and (iii) the Station's business
manager ("Knowledge of Sellers" or "to the Sellers' Knowledge" shall in no event
involve any constructive knowledge of such individuals);

      "Lease Assignment" shall mean the Assignment and Assumption of Leases in
the form of Exhibit "F" attached hereto, by which Sellers shall assign to Buyer
the Leases or in the case of Leases of Real Property, in such other form as is
reasonably acceptable to the Title Company;

      "Leases" shall mean those leases of Real Property and Equipment related to
the Station as listed on Schedule 1.5;

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      "Licenses" shall mean all licenses, permits and authorizations issued by
the FCC to Sellers for the operation of the Station and all auxiliary facilities
licensed by the FCC for operation in connection with the Station, as listed on
Schedule 1.6;

      "Lien" shall mean any mortgage, deed of trust, pledge, hypothecation,
security interest, encumbrance, claim, lien, lease (including any capitalized
lease) or charge of any kind, whether voluntarily incurred or arising by
operation of law or otherwise, affecting any of the Purchased Assets or the
Station, including any agreement to give or grant any of the foregoing, any
conditional sale or other title retention agreement and the filing of or
agreement to give any financing statement with respect to any of the Purchased
Assets or the Station under the Uniform Commercial Code of the State of Missouri
or comparable law of any jurisdiction;

      "Material Adverse Effect" shall mean a material adverse effect on (i) the
present or future business, operations, financial condition or results of
operations of the Station, in each case taken as a whole, exclusive of (a)
general changes to the national economy or the economy of the Station's
Designated Market Area, (b) conditions affecting the national television
broadcast industry generally or the television broadcast industry in the
Station's Designated Market Area generally, and (c) the effects of the taking of
any action expressly required by or contemplated under this Agreement or the TBA
Agreement, or (ii) the ability of Sellers, taken as a whole, to perform their
material obligations under this Agreement or the TBA Agreement;

      "Miscellaneous Assets" shall mean all tangible and intangible assets owned
by, leased by or licensed to Sellers and used or useable in the operation of the
Station and not otherwise specifically referred to in this Agreement, including
any warranties related to any of the Purchased Assets, excepting therefrom only
the Retained Assets;

      "Motor Vehicles" shall mean all motor vehicles owned by Sellers related to
the operation of the Station including without limitation those listed on
Schedule 1.7;

      "Motor Vehicle Title Certificates" shall mean the official evidences of
title to the Motor Vehicles;

      "Parent" shall have the meaning set forth in Section 6.5;

      "Permitted Liens" shall mean (i) Liens imposed by any governmental
authority for Taxes not yet due and/or which are being contested in good faith
and by appropriate proceedings if adequate reserves with respect thereto are
maintained on the books of the Sellers in accordance with GAAP; (ii) carriers',
warehousemen's, mechanics', materialmen's, repairmen's or other non-consensual
Liens arising in the ordinary course of business and securing amounts not yet
due and payable or which are being contested in good faith and by appropriate
proceedings, if adequate reserves with respect thereto are maintained on the
books of the Sellers in accordance with GAAP; (iii) pledges or deposits in
connection with worker's compensation, unemployment insurance and other social
security legislation; (iv) deposits to secure the performance of any or all of
the following: bids, trade contracts (other than for borrowed money), leases,
statutory obligations, surety and appeal bonds, performance bonds and other
obligations of a like nature incurred in the ordinary course of business; (v)
easements, rights-of-way, restrictions and other similar encumbrances on real
property incurred in the ordinary course of business, and

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encroachments (whether or not in the ordinary course of business), which do not
secure any monetary amount and which do not in any case materially detract from
the value of the property subject thereto or materially interfere with the
ordinary conduct of the business thereon; and (vi) all of the exceptions
reflected in Schedule 1.8 or the title insurance policies attached thereto,
provided the Liens on the Purchased Assets granted to FINOVA Capital
Corporation, as agent (collectively, the "Debtholders") are to be released at
Closing. Schedule 1.8 also sets forth a list of the Liens described in clauses
(i) and (ii) above as Liens which are being contested in good faith;

      "Person" shall mean any natural person, general or limited partnership,
corporation, limited liability company or other entity;

      "Plan" shall mean any plan, program or arrangement, whether or not
written, that is or was (a) an "employee benefit plan" as such term is defined
in Section 3(3) of ERISA and (i) which was or is established or maintained by
Sellers; (ii) to which Sellers contributed or was obligated to contribute or to
fund or provide benefits; or (iii) which provides or promises benefits to any
person who performs or who has performed services for Sellers and because of
those services is or has been (A) a participant therein or (B) entitled to
benefits thereunder; (b) an "employee pension benefit plan" as such term is
defined in Section 3(2) of ERISA, including, without limitation, any such plan
that satisfies, or is intended by Sellers to satisfy, the requirements for tax
qualification described in Section 401 of the Code; (c) a "multiemployer plan"
as such term is defined in Section 3(37) of ERISA; or (d) an "employee welfare
benefit plan" as such term is defined in Section 3(1) of ERISA;

      "Pre-TBA Receivables" shall have the meaning set forth in Section 2.9;

      "Program Contracts" shall have the meaning set forth in Section 2.4(b);

      "Program Payments" shall have the meaning set forth in Section 2.4(b);

      "Program Rights" shall mean all rights of Sellers presently existing or
obtained prior to the Closing, in accordance with this Agreement, to broadcast
television programs or shows as part of the Station's programming and for which
Sellers are or will be obligated to compensate the vendor of such Program
Rights, including all film and program barter agreements;

      "Purchased Assets" shall mean all rights of Sellers in, to and under all
assets used or useable in the operation of the Station, including but not
limited to (a) the Contracts; (b) the Customer Lists; (c) the Equipment; (d) the
Intangible Property; (e) the Leases; (f) the Licenses; (g) the Miscellaneous
Assets; (h) the Motor Vehicles; (i) the Real Property; (j) the Records; (k) the
Trade Secrets; and (l) Internet Web Sites; in each case, other than the Retained
Assets;

      "Purchase Price" shall mean the sum of Fourteen Million Dollars
($14,000,000.00), as adjusted pursuant to Section 2.4;

      "Real Property" shall mean the real property owned in fee simple or
leasehold by Sellers more particularly described on Schedule 1.9, and all
buildings, improvements and fixtures thereon, together with all strips and
gores, rights of way, easements, strips and gores privileges

                                      -7-

<PAGE>

and appurtenances pertaining thereto, including any right, title and interest of
Sellers in and to any street adjoining any portion of the Real Property;

      "Records" shall mean files and records, including schematics, technical
information and engineering data, programming information, correspondence, books
of account, employment records, customer files, purchase and sales records and
correspondence, advertising records, files and literature, and FCC logs, files
and records and other written materials of Sellers relating to the Station other
than those that are Retained Assets; provided, however, that Records shall not
mean or include the certificates of formation, limited liability company
agreements, bylaws, qualifications to conduct business as a foreign limited
liability company, arrangements with registered agents relating to foreign
qualification, taxpayer and other identification numbers, seals, minute books,
and other documents and records relating to the organization, maintenance and
existence of Sellers as limited liability companies;

      "Retained Assets" shall mean (a) Cash; (b) Pre-TBA Receivables (subject to
Buyer's right to collect and use the proceeds of same as provided in Section 2.9
hereof); (c) any and all claims of Sellers with respect to transactions prior to
the Closing Date including, without limitation, claims for tax refunds and
refunds of fees paid to the FCC, except to the extent any such item was taken
into account in adjusting the Purchase Price pursuant to Section 2.4 or relates
to Assumed Liabilities or the Purchased Assets; (d) all contracts of insurance
entered into by Sellers; (e) all rights and obligations under any agreements
listed on Schedule 1.10; (f) those other assets, if any, described on Schedule
1.10; (g) all assets related to Seller's Station Employee Benefit Plans; (h) the
records and other documents described in the proviso to the definition of
Records above; and (i) any of the rights of Sellers under this Agreement, the
TBA Agreement and under any agreement or documents executed or to be executed in
connection herewith or therewith or any side agreement between Sellers and Buyer
entered into on or after the date of this Agreement;

      "Retained Liabilities" shall mean all the obligations and liabilities of
Sellers whether now existing or previously or hereafter incurred other than the
Assumed Liabilities;

      "Schedules" shall mean those schedules referenced to in this Agreement
which have been bound in that separate volume executed by or on behalf of the
parties, and delivered concurrently with the execution of this Agreement, which
schedules and volume are hereby incorporated herein and made a part hereof;

      "Sellers' Closing Certificate" shall mean the certificate of Sellers in
the form of Exhibit "G" attached hereto;

      "Sellers' Opinion of Counsel" means the legal opinion of counsel to
Sellers addressed to Buyer in a form reasonably acceptable to Buyer and Sellers;

      "Sellers' Performance Certificate" shall mean the certificate of Sellers
in the form of Exhibit "H" attached hereto;

      "SpectraSite Agreements" shall mean the lease, site and other agreements
by and between SpectraSite Broadcast Towers, Inc. ("SpectraSite") and
Non-License Seller and among

                                      -8-

<PAGE>

SpectraSite, Non-License Seller, GOCOM Holdings, LLC and its subsidiaries, in
each case pertaining to KODE listed in Schedule 1.2 or Schedule 1.5;

      "Station" shall have the meaning set forth in the Recitals;

      "Station Employee Benefit Plans" shall mean any Plan or Benefit
Arrangement in which any current, former or retired employee of the Sellers
participates;

      "TBA Agreement" shall have the meaning set forth in the recitals;

      "Title Commitment" shall have the meaning set forth in Section 6.2;

      "Title Company" shall mean First American Title Insurance Company, or such
other title insurance company reasonably acceptable to Sellers;

      "Title Policy" shall have the meaning set forth in Section 6.2;

      "Trade Secrets" shall mean all proprietary or confidential information of
Sellers relating to the Station;

      "Trademarks" shall mean all of those names, trademarks, service marks,
jingles, slogans, logos, trademark and service mark registrations and trademark
and service mark applications owned, used, held for use, licensed by or leased
by Sellers relating to the Station including without limitation those set forth
on Schedule 1.11;

      "Trademark Assignment" shall mean an instrument, in the form of Exhibit
"I" attached hereto, by which Sellers shall convey to Buyer the Trademarks;

      "Tradeout Agreement" shall mean any Contract pursuant to which Sellers
have sold or traded commercial air time of the Station in consideration for any
property or services in lieu of or in addition to Cash, excluding film and
program barter agreements;

      "Tradeout Payables" means all obligations of Sellers arising under any
Tradeout Agreement, whenever made;

      "Tradeout Receivables" means all current assets of Sellers that are goods
or services receivable by any Seller arising under any Tradeout Agreement,
whenever made;

      "Warranty Deed" shall mean a special or limited warranty deed in a form
acceptable to the Title Company pursuant to which Sellers shall convey to Buyer
at the Closing the Real Property owned by Sellers, subject only to Permitted
Liens.

      1.2 Singular/Plural; Gender. Where the context so requires or permits, the
use of the singular form includes the plural, and the use of the plural form
includes the singular, and the use of any gender includes any and all genders.
Except as specifically set forth herein, all Section and Article references are
to Sections and Articles of this Agreement.

                                      -9-

<PAGE>

                                   ARTICLE II
                                PURCHASE AND SALE

      2.1 Purchase and Sale. At the Closing on the Closing Date, and upon all of
the terms and subject to all of the conditions of this Agreement, Sellers shall
sell, assign, convey, transfer and deliver to Buyer, and Buyer shall purchase
the Purchased Assets, including all of Sellers' legal and equitable interests
therein. Notwithstanding any provision of this Agreement to the contrary,
Sellers shall not transfer, convey or assign to Buyer, but shall retain, all of
its right, title and interest in and to the Retained Assets.

      2.2 Payment of Purchase Price.

            (a) On the date of this Agreement, Buyer shall pay to Sellers, by
wire transfer in immediately available funds, the sum of Six Million Dollars
($6,000,000.00);

            (b) At Closing, Buyer shall pay to Sellers, by wire transfer in
immediately available funds, an amount equal to the Purchase Price (as adjusted
pursuant to Section 2.4 below), less the amount paid pursuant to Section 2.2(a);
and

            (c) At Closing, Buyer shall assume the Assumed Liabilities pursuant
to the Assumption Agreement.

      2.3 Closing Date Deliveries. At the Closing on the Closing Date:

            (a) Sellers shall deliver, or cause to be delivered to Buyer,
properly executed and dated as of the Closing Date: (i) the Assumption
Agreement; (ii) the Bill of Sale and Assignment; (iii) the Contract Assignment;
(iv) the Lease Assignment; (v) the Motor Vehicle Title Certificates; (vi)
Sellers' Closing Certificate; (vii) Sellers' Opinion of Counsel; (viii) Sellers'
Performance Certificate; (ix) the Trademark Assignment; (x) the Warranty Deed;
(xi) a certificate of existence or good standing with respect to each Seller
from the Secretary of State of Delaware and with respect to Non-License Seller
from the Secretary of State of Missouri; and (xii) such other documents as
provided in Article VII hereof or as Buyer shall reasonably request; and

            (b) In addition to the payments described in Section 2.2, Buyer
shall deliver, or cause to be delivered to Sellers, properly executed and dated
as of the Closing Date: (i) the Assumption Agreement; (ii) the Bill of Sale and
Assignment; (iii) Buyer's Closing Certificate; (iv) Buyer's Opinion of Counsel;
(v) Buyer's Performance Certificate; (vi) the Contract Assignment; (vii) the
Lease Assignment; (viii) the Trademark Assignment; (ix) a certificate of
existence or good standing with respect to Buyer from the Secretaries of State
of Delaware and Missouri; and (x) such other documents as provided in Article
VIII hereof or as Sellers shall reasonably request.

      2.4 Proration; Adjustments to Purchase Price.

            (a) For the purposes of (i) identifying the Purchased Assets,
Retained Assets, Assumed Liabilities and Retained Liabilities, (ii) determining
the adjustment to the Purchase Price, if any, to be made pursuant to this
Section 2.4, and (iii) identifying the Pre-TBA

                                      -10-

<PAGE>

Receivables for the purpose of Section 2.9, all prepaid or deferred revenue,
prepaid expenses, accrued income and accrued expenses of the Station as of 12:01
a.m., Joplin, Missouri time on the date hereof (the "Adjustment Time") shall,
except as otherwise expressly provided herein, be adjusted and allocated between
Sellers and Buyer to reflect the principle that all revenue, income and expenses
(including, without limitation, accrued liabilities for vacation pay, sick pay,
compensatory pay and similar amounts, and amounts that may become payable in
respect of unlicensed software, whether or not Sellers' normally accrue such
amounts) arising from the operation of the Station or relating to the Purchased
Assets before the Adjustment Time shall be for the account of Sellers, and all
revenue, income and expenses arising from the operation of the Station or
relating to the Purchased Assets from and after the Adjustment Time shall be for
the account of Buyer (under this Agreement or the TBA Agreement). Any and all
rebates which, under any agreements in effect as of the Adjustment Time, may be
payable after such date to any advertiser or other user of the Station's
facilities, based in part on business, advertising or services prior to the
Closing Date, shall be borne by Sellers and Buyer ratably in proportion to
revenues received or volume of business done by each during the applicable
period. Any and all agency commissions which are subject to adjustment after the
Adjustment Time based on revenue, volume of business done or services rendered
in part before the Adjustment Time and in part after the Adjustment Time shall
be shared by Sellers, on the one hand, and Buyer, on the other hand, ratably in
proportion to the revenue, volume of business done or services rendered, as the
case may be, by each during the applicable period.

            (b) Treatment of Program Liabilities. Notwithstanding anything to
the contrary set forth in Section 2.4(a) above, as between Buyer and Sellers
with respect to all Contracts relating to Program Rights ("Program Contracts"):

                  (i) Sellers will be allocated all obligations to make cash
      payments of license and usage fees pursuant to any Program Contract
      ("Program Payments") which first becomes due and payable under the terms
      of the Program Contract in question prior to the first day of the calendar
      month which includes the Adjustment Time;

                  (ii) Buyer will be allocated all Program Payments which first
      become due and payable under the terms of the Program Contract in question
      after the last day of the calendar month which includes the Adjustment
      Time; and

                  (iii) with respect to Program Payments which first become due
      and payable under the terms of the Program Contract in question during the
      calendar month which includes the Adjustment Time: (A) Sellers will be
      allocated a portion of each such Program Payment which is equal to a
      fraction, the numerator of which is the number of days (if any) in such
      calendar month which are prior to the Adjustment Time and the denominator
      of which is the total number of days in such calendar month, and (B) Buyer
      will be allocated the remaining portion of such Program Payments.

            (c) To the extent not inconsistent with the express provisions of
this Agreement, the allocations made pursuant to Sections 2.4(a) and (b) above
shall be made in accordance with generally accepted accounting principles.

                                      -11-

<PAGE>

            (d) Net settlement of the adjustments contemplated under Section
2.4(e) shall be made at the Closing by decreasing the Purchase Price
appropriately, if feasible based on Sellers' and Buyer's good faith estimates.
For items not readily subject to ascertainment at the Closing, the following
procedures shall apply. Buyer shall prepare and deliver to Sellers within thirty
(30) business days following the Closing Date, or such earlier or later date as
shall be mutually agreed to by Sellers and Buyer, an itemized list (the
"Adjustment List") of all sums which, as described in Section 2.4(e) below,
shall decrease the Purchase Price, with a brief explanation thereof. Such list
shall show the net amount of the decrease to the Purchase Price (the "Adjustment
Amount"). If the Adjustment Amount is a decrease to the Purchase Price, Sellers
shall pay such amount to Buyer. Except as provided otherwise in Section 2.4(f),
payment of the Adjustment Amount shall be made not later than fifteen (15)
business days following the delivery of the Adjustment List.

            (e) The items set forth on the Adjustment List and the calculation
of the Adjustment Amount shall each reflect the understanding that the Purchase
Price shall be:

                  (i) decreased by the amount of all Accounts Payable existing
      as of the Adjustment Time actually paid or assumed by Buyer or reimbursed
      by Buyer to Sellers under the TBA Agreement (not including any Accounts
      Payable which may have previously reduced the payment by Buyer to Sellers
      of collections of Pre-TBA Receivables made pursuant to Section 2.9);

                  (ii) decreased by the amount, if any, by which Tradeout
      Payables as of the Adjustment Time exceed Tradeout Receivables as of the
      Adjustment Time by more than $15,000; and

                  (iii) decreased by the amount of all liabilities under
      Financing Leases, if any, existing as of the Adjustment Time.

            (f) Not later than fifteen (15) business days following the delivery
of the Adjustment List, Sellers may furnish Buyer with written notification of
any dispute concerning any items shown thereon or omitted therefrom together
with a detailed explanation in support of Sellers' position in respect thereof.
If Sellers do not furnish Buyer such a written notification during such fifteen
(15) business day period, then Buyer's determination of the Adjustment Amount
(as set forth in the Adjustment List) will be final and binding on Buyer and
Sellers as of the last day of such fifteen (15) business day period. If Sellers
do furnish Buyer such a written notification during such fifteen (15) business
day period, then Buyer and Sellers shall consult to resolve any such dispute for
a period of fifteen (15) business days following the notification thereof. In
the event of any such dispute, that portion of the Adjustment Amount that is not
in dispute shall be paid to the party entitled to receive the same on the day
for payment provided in Section 2.4(d). If such fifteen (15) business day
consultation period expires and the dispute has not been resolved, the matter
shall be referred to an independent "Big Five" public accounting firm mutually
agreed upon by Sellers and Buyer (the "Accountants"), which shall resolve the
dispute and shall render its decision (together with a brief explanation of the
basis therefor) to Buyer and Sellers not later than twenty (20) business days
following submission of the dispute to it; provided, however, if Buyer and
Sellers are unable to mutually agree upon an independent public accounting firm,
then Buyer and Sellers shall each choose an independent public

                                      -12-

<PAGE>

accounting firm and those firms shall appoint a third independent public
accounting firm to act as the Accountants. The Accountants' determination of the
disputed portion of the Adjustment Amount (the "Disputed Amount") will become
final and binding on Buyer and Sellers on the business day after the date upon
which a written report setting forth such determination is delivered to Sellers
and Buyer. The Disputed Amount shall be paid by the party required to pay the
same within five (5) business days after the delivery of a copy of such decision
to Sellers and Buyer. The fees and expenses of the Accountants shall be shared
equally by Sellers, on the one hand, and Buyer on the other hand.

            (g) The Adjustment List to the extent not disputed within the
specified period by Sellers, any mutually agreed written settlement of any such
dispute concerning the Adjustment List and any determination of disputed items
by the Accountants shall be final, conclusive and binding on the parties hereto
absent manifest error.

            (h) Notwithstanding anything herein to the contrary, the Buyer shall
reimburse the Sellers (pursuant to an increase to the Purchase Price paid at
Closing) for the prepaid expenses set forth on Schedule A; provided that the
dollar amounts set forth on Schedule A are as of the date set forth on such
Schedule and the actual amounts to be reimbursed hereunder shall be those
amounts outstanding as of the date hereof as reasonably determined by the Buyer
and Sellers and subject to the proration procedures set forth above.

      2.5 Taxes. All federal, state, local and other transfer, sales and use
taxes and recording costs applicable to, imposed upon or arising out of the
transfer to Buyer of the Purchased Assets as contemplated by this Agreement
shall be shared equally by Buyer on the one hand, and Sellers on the other.

      2.6 [Intentionally Omitted]

      2.7 Allocation of Purchase Price. The Purchase Price will be allocated
among each item or class of the Purchased Assets based upon (i) the mutual
agreement of Buyer and Sellers, or (ii) in the event Buyer and Sellers fail to
agree, an appraisal to be paid for by Buyer, to be conducted by a
nationally-recognized appraisal firm experienced in appraising, for tax
purposes, small-to-medium market television stations selected by Buyer and which
is reasonably acceptable to Sellers, under the residual method of allocating
assets, which allocation shall be incorporated in a schedule to be provided by
Buyer and executed by the parties within one hundred twenty (120) days after the
Closing. Buyer and Sellers each agree to report such allocation to the Internal
Revenue Service in the form required by Treasury Regulations Section 1.1060-1;
provided, however that nothing contained herein shall require Buyer or Sellers
to contest or litigate in any forum any proposed deficiency or adjustment by any
taxing authority or agency that may challenge the allocation determined pursuant
to this Section 2.7.

      2.8 Access.

            (a) Subject to Section 11.8(b), Sellers and their authorized agents,
officers and representatives, upon prior written request, shall have access to
the appropriate records of Buyer to conduct such examination and investigation
as Sellers deem necessary to assure compliance with this Article 2, and to
permit Sellers to comply with their tax reporting compliance

                                      -13-

<PAGE>

requirements, provided that such examination and investigation shall be at
Sellers' sole cost and expense and shall be during the Station's normal business
hours, shall not unreasonably interfere with the Station's operations and
activities and shall not, after the consummation of the Closing, constitute
Sellers' exercising control over the Station under FCC rules, regulations or
guidelines.

            (b) Subject to Section 11.8(a), Buyer and its authorized agents,
officers and representatives, upon prior written request, shall have access to
the appropriate records of Sellers to conduct such examination and investigation
as Buyer deems necessary to assure compliance with this Article 2, and to permit
Buyer to comply with its tax reporting compliance requirements, provided that
such examination and investigation shall be at Buyer's sole cost and expense and
shall be during Sellers' normal business hours, shall not unreasonably interfere
with Sellers' operations and activities.

      2.9 Accounts Receivable. From and after the Adjustment Time until the one
hundred and twentieth (120th) day following the Adjustment Time (the "Collection
Period"), Buyer agrees to use reasonable efforts to collect, as agent for
Sellers, the Accounts Receivable of the Sellers as of the Adjustment Time (the
"Pre-TBA Receivables") in the manner regularly pursued by Buyer with respect to
the collection of its accounts receivable and in the ordinary course of
business. Buyer shall hold the proceeds collected from Pre-TBA Receivables
(which may be commingled with other funds of Buyer and/or used by Buyer for its
own purposes) pending remittance to Sellers as provided in this Section 2.9.
Within ten (10) days following the end of the Collection Period, Buyer shall pay
to the Sellers in immediately available funds all proceeds of Pre-TBA
Receivables actually collected by Buyer during the Collection Period, minus the
amount of all the Accounts Payable of the Sellers as of the Adjustment Time (the
"Pre-TBA Payables") actually paid by Buyer, assumed by Buyer, or reimbursed by
Buyer to Sellers under the TBA Agreement (provided that in the event the amount
of such Accounts Payable exceeds the proceeds of Pre-TBA Receivables actually
collected by Buyer, then the Sellers shall pay such difference to Buyer in the
same manner). On the tenth (10th) day following the end of the Collection
Period, Buyer will deliver to Sellers all records of uncollected Pre-TBA
Receivables (provided that Buyer may retain copies of such records). In the
collection of accounts receivable, all payments received by Buyer from account
debtors will be applied first to the Pre-TBA Receivables and then to Buyer's
accounts receivable, in the order of origination (i.e., "first-in, first-out"),
unless the account debtor specifies otherwise, in which case the proceeds shall
be applied as specifically designated by the account debtor. Buyer will take no
action to encourage an account debtor to dispute its obligation to pay any
billing that relates to a Pre-TBA Receivable or to specify that any payment be
applied to billings other than in chronological order. Buyer or Sellers will
promptly deliver to the other a true copy of any notice of a dispute as to the
validity or enforceability of a Pre-TBA Receivable received from an account
debtor. Buyer shall not agree to any settlement, discount or reduction of any
Pre-TBA Receivable without the prior written consent of Sellers. Buyer's
collection obligation under this Section 2.9 shall not include any obligation to
bring suit, engage a collection agent or take any legal action for the
collection of any Pre-TBA Receivable. After the Collection Period, Buyer shall,
if requested by Sellers, execute and deliver letters, in form and substance
reasonably satisfactory to Sellers and Buyer, to the effect that the respective
account debtor should send payments on the Pre-TBA Receivables to Sellers'
designee. In the event this Agreement is terminated prior to the end of the
Collection Period (or prior to the making of the payment described above) for
any reason, promptly but in any event within ten (10) days thereafter, Buyer

                                      -14-

<PAGE>

shall deliver to Seller, in immediately available funds, an amount equal to (i)
the proceeds of all Pre-TBA Receivables collected by Buyer from and after the
Adjustment Time less (ii) all Pre-TBA Payables actually paid by Buyer or
reimbursed by Buyer to Sellers under the TBA Agreement (provided that in the
event the amount of such Accounts Payable exceeds the proceeds of Pre-TBA
Receivables actually collected by Buyer, then the Sellers shall pay such
difference to Buyer in the same manner). Notwithstanding anything to the
contrary herein, this Section 2.9 shall survive the termination of this
Agreement.

                                   ARTICLE III
                  GOVERNMENTAL APPROVALS AND CONTROL OF STATION

      3.1 FCC Consent. It is specifically understood and agreed by Buyer and
Sellers that the Closing shall be in all respects subject to, and conditioned
upon, the receipt of prior FCC Consent in respect of the Station's main
television broadcast license (KODE-TV). Buyer and Sellers shall prepare and file
with the FCC as soon as practicable but in no event later than five (5) business
days after the execution of this Agreement, all requisite applications and other
necessary instruments and documents to request the FCC Consent and any necessary
extensions thereof to comply with the Closing Date. After the aforesaid
applications, instruments and documents have been filed with the FCC, Buyer and
Sellers shall prosecute such applications with all reasonable diligence and take
all steps reasonably necessary to obtain the requisite FCC Consent including,
without limitation, vigorously contesting any petitions or protests against such
applications. Buyer shall promptly provide Sellers, and Sellers shall promptly
provide the Buyer, with any pleading, order or other document served on such
party relating to such FCC applications and all proceedings relating thereto. No
party hereto shall take any action that such party knows or should know would
adversely affect obtaining the FCC Consent, or adversely affect the FCC Consent
becoming a Final Order. Buyer shall pay all FCC filing or transfer fees relating
to the transactions contemplated hereby irrespective of whether the transactions
contemplated by this Agreement are consummated and irrespective of whether such
fees are assessed before or after the Closing.

      3.2 Control Prior to Closing. Between the date hereof and the Closing
Date, Buyer shall not directly or indirectly control, supervise or direct, or
attempt to control, supervise or direct, the operation of the Station. Such
operation, including ultimate control and supervision of all programs, employees
and policies, shall be the sole responsibility of Sellers hereunder and under
the TBA Agreement.

                                   ARTICLE IV
                    REPRESENTATIONS AND WARRANTIES OF SELLERS

      Subject to the last paragraph of Section 6.2, Sellers represents and
warrants to Buyer that the statements contained in this Article IV are true,
correct and complete as of the date of this Agreement, as follows:

      4.1 Organization. Each Seller is a limited liability company organized,
validly existing and in good standing under the law of the State of Delaware and
each is qualified to do business as a foreign limited liability company in the
State of Missouri. Each Seller has the

                                      -15-

<PAGE>

power and authority to own, lease, and operate its properties and to conduct its
business as it is now being conducted.

      4.2 Authorization; Enforceability. The execution, delivery and performance
of this Agreement and the TBA Agreement and all of the documents and instruments
required hereby by Sellers are within the power of each Seller and have been
duly authorized by all necessary action by Sellers. This Agreement and the TBA
Agreement are, and the other documents and instruments required hereby will be,
when executed and delivered by Sellers, the valid and binding obligations of
Sellers, enforceable against Sellers in accordance with their respective terms,
subject only to bankruptcy, insolvency, reorganization, moratorium or similar
laws at the time in effect affecting the enforceability or rights of creditors
generally and by general equitable principles which may limit the right to
obtain equitable remedies.

      4.3 Absence of Conflicting Agreements. Except for the FCC Consent or as
described on Schedule 4.3, neither the execution, delivery or performance of
this Agreement or the TBA Agreement in accordance with their respective terms by
Sellers nor the consummation of the sale and purchase of the Purchased Assets or
any other transaction contemplated by this Agreement (including, without
limitation, the commencement or continuation of operations under the TBA
Agreement), does or will, with or without the giving of notice, or the lapse of
time or both, or otherwise:

            (a) conflict with, result in a breach of, or constitute a default
under, the organizational documents of either Seller, or any federal, state or
local law, statute, ordinance, rule or regulation applicable to Sellers, or any
court of administrative order or process applicable to Sellers, or any material
contract, agreement, arrangement, commitment or plan to which either Seller is a
party or by which either Seller is bound and which relates to, the ownership or
operation of the Station or the Purchased Assets;

            (b) result in the creation of any Lien upon any of the Purchased
Assets, except for Permitted Liens;

            (c) terminate, amend or modify, or give any other Person the right
to terminate, amend, modify, abandon or refuse to perform any material contract,
agreement, arrangement, commitment or plan to which either Seller is a party and
which relates to, the ownership or operation of the Station or the Purchased
Assets;

            (d) accelerate or modify, or give any party the right to accelerate
or modify, the time within which, or the terms under which, any duties or
obligations are to be performed, or any rights or benefits are to be received,
under any material contract, agreement, arrangement, commitment or plan to which
either Seller is a party and which relates to the ownership or operation of the
Station or the Purchased Assets;

            (e) require the consent, waiver, approval, permit, license,
clearance or authorization of, or any declaration or filing with, any court or
governmental or public agency or other authority other than the FCC; or

                                      -16-

<PAGE>

            (f) require the consent of any Person under any material agreement,
arrangement or commitment of any nature to which either Seller is party, by
which either Seller is bound, or by which the Purchased Assets are bound or
subject.

      4.4 Purchased Assets. The Purchased Assets include all of the assets,
properties and rights of every type and description, real, personal and mixed,
tangible and intangible, that are necessary for the business of owning and
operating the Station as currently conducted by Sellers, with the exception of
the Retained Assets. All inventories of supplies, tubes and spare parts
necessary or appropriate for the operation of the Station are at levels at least
equal to the Station's usual and customary levels.

      4.5 Title to Purchased Assets; Liens and Encumbrances. Except as set forth
on Schedule 4.5, Sellers own good and marketable title to or have valid
leasehold interests in all of the Purchased Assets (other than the Real Property
as to which the provisions of Section 4.9 shall apply and the Intangible
Property as to which the provisions of Section 4.8 shall apply) free and clear
of any and all Liens except for Permitted Liens.

      4.6 Equipment. Each of the material items of (i) the Equipment and (ii)
the Station's physical facilities, electrical and mechanical systems and the
transmitting and studio equipment is in good condition and repair, ordinary wear
and tear excepted, and is not in need of imminent repair or replacement, is
operating and has been serviced and maintained by Sellers in accordance with
normal industry standards and practices and FCC rules and regulations.

      4.7 The Contracts. Except as set forth on Schedule 4.7:

            (a) Schedule 1.2 lists all agreements relating to properties,
undertakings or commitments to or for third parties in the operation and conduct
of the Station except for (i) agreements (other than Tradeout Agreements) for
the sale of time on the Station that involve the purchase of less than
Twenty-Five Thousand Dollars ($25,000.00) in advertising time and require
performance over a period of less than thirty (30) days, (ii) other agreements
which are cancelable by Sellers or its assignee without breach or penalty on not
more than thirty (30) days notice and which involve average annual payments or
receipts by the Station of less than Ten Thousand Dollars ($10,000.00) in the
case of any single contract and Twenty-Five Thousand Dollars ($25,000.00) in the
aggregate, (iii) Sellers' (and their affiliates') senior loan agreement with
FINOVA Capital Corporation and all related agreements, documents and
instruments, and (iv) Sellers' and their affiliates' limited liability company
agreements;

            (b) Sellers have performed, or are in compliance with, each material
term, covenant and condition of each of the Contracts required to be listed on
Schedule 1.2, and no material event of default on the part of Sellers, and to
the Knowledge of Sellers, any other party thereto, exists under any of the
Contracts required to be listed on Schedule 1.2;

            (c) each of the Contracts listed on Schedule 1.2 is in full force
and effect, unimpaired by any acts or omissions of Sellers, and constitutes the
legal and binding obligation of, and is enforceable against Sellers, and to the
Knowledge of Sellers, against each other party thereto in accordance with its
terms, subject only to bankruptcy, insolvency, reorganization, moratorium or
similar laws at the time in effect affecting the enforceability or rights of
creditors

                                      -17-

<PAGE>

generally and by general equitable principles which may limit the right to
obtain equitable remedies;

            (d) Sellers have furnished or made available to Buyer true and
complete copies of all written Contracts required to be listed on Schedule 1.2,
including all amendments, modifications and supplements thereto, and Schedule
1.2 contains summaries of the following provisions of all oral Contracts which
involve Ten Thousand Dollars ($10,000.00) in the case of any single oral
Contract and Twenty-Five Thousand Dollars ($25,000.00) in the aggregate: the
parties thereto, and the value of the goods and services to be provided
thereunder;

            (e) Schedule 1.2 sets forth an accurate and complete list of all
Tradeout Agreements, and sets forth for each Tradeout Agreement the parties
thereto, the value of broadcast time required to be provided on the Station from
and after the date shown on such Schedule and the value of goods and services to
be provided to the Station from and after such date; and

            (f) With respect to each Program Contract, the "Available Runs"
specified on the attached Schedule 1.2-A reflects the number of unused
exhibitions pursuant to the cash portion, if any, of such Program Contract as of
the corresponding date specified on such Schedule.

      4.8 Intangible Property. Except as set forth on Schedule 4.8:

            (a) there are no claims, demands or proceedings instituted, pending
or, to the Knowledge of Sellers, threatened by any Person pertaining to or
challenging Sellers' right to use any of the Intangible Property;

            (b) to the Knowledge of Sellers, Sellers are not infringing upon or
otherwise acting adversely to any trademark, trade name, patent or copyright
owned by a third party;

            (c) there are no royalty agreements between Sellers and any third
party relating to any of the Intangible Property;

            (d) the Intangible Property constitutes all of the intangible and
intellectual property interests and other intellectual property necessary or
appropriate for or used in the operation of the Station (other than Copyrights
and Trademarks with respect to Program Rights); and

            (e) all Copyrights and Trademarks are listed on Schedule 1.3 and
Schedule 1.11, respectively, and all Intangible Property is transferable to
Buyer by the sole act of Sellers.

      4.9 Real Property. Except as disclosed on Schedule 4.9:

            (a) Sellers have good, marketable and insurable fee simple or
leasehold interests, as applicable, in the Real Property, and such Real Property
includes all real property necessary for the business of the Station as
currently conducted or used in the operation of the Station. Attached to
Schedule 4.9 are all policies of title insurance currently existing in favor of
Sellers with respect to the Real Property. Except for Permitted Liens and the
items set forth on

                                      -18-

<PAGE>

Schedule 4.9, there are no Liens to title to any portion of the Real Property.
No Lien set forth or required to be set forth on Schedule 4.9 (not including
those described in items 1 through 8 and item 20 on Schedule 4.9) materially
interferes with the operation of the Station as currently operated;

            (b) Sellers have not received notice of any pending condemnation or
similar proceeding affecting the Real Property or any portion thereof, and to
the Knowledge of Sellers, no such action is presently contemplated or
threatened;

            (c) Sellers have not received any written notice from any insurance
company of any defects or inadequacies in the Real Property or any part thereof,
which would materially adversely affect the insurability of the Real Property or
the premiums for the insurance thereof. Sellers have not received any notice
from any insurance company which has issued or refused to issue a policy with
respect to any portion of the Real Property or by any board of fire underwriters
(or other body exercising similar functions) requiring the performance of any
repairs, alterations or other work with which compliance has not been made;

            (d) there are no parties in possession of any portion of the Real
Property other than Sellers, whether as lessees, tenants at will, trespassers or
otherwise;

            (e) there is no law, ordinance, order, regulation or requirement now
in existence, (other than Environmental Laws) which would require any material
expenditure to remediate, remedy, remove, modify or improve any of the Real
Property in order to bring it into substantial compliance therewith;

            (f) the Real Property has adequate direct access to and from
completed, dedicated and accepted public roads, and there is no pending or, to
the Knowledge of Sellers, threatened governmental proceeding which would impair
or curtail such access; and

            (g) to the Knowledge of Sellers, there are no material structural,
electrical, mechanical, plumbing, air conditioning, heating or other defects in
the buildings or towers located on the Real Property and the roofs of the
buildings located on the Real Property are free from leaks and in good
condition, ordinary wear and tear excepted.

      4.10 The Leases. Except as set forth on Schedule 4.10:

            (a) the Leases described on Schedule 1.5 constitute all of the lease
agreements between Sellers and third parties relating to the operation of the
Station or the Purchased Assets;

            (b) Sellers have performed each material term, covenant and
condition of each of the Leases which is required to be performed by Sellers at
or before the date hereof, and no material default or event which with the
passing of time or giving of notice or both would constitute a default on the
part of the Sellers and, to the Knowledge of Sellers, on the part of any other
party thereto, exists under any Lease;

            (c) each of the Leases is in full force and effect, unimpaired by
any acts or omissions of Seller, and constitutes the legal and binding
obligation of, and is legally enforceable

                                      -19-

<PAGE>

against Sellers, and to the Knowledge of Sellers, against each other party
thereto in accordance with its terms;

            (d) Sellers have furnished or made available to Buyer true and
complete copies of the Leases, including any and all amendments thereto;

            (e) there are no leasing commissions or similar payments due,
arising out of, resulting from or with respect to any Lease which are owned by
Sellers; and

            (f) each of Sellers' Financing Leases is listed as such on Schedule
4.10.

      4.11 Financial Statements and Interim Financial Statements.

            (a) Attached as Schedule 4.11(a) are true and complete copies of the
unaudited consolidated balance sheets of Sellers, as of December 31, 1999 and
December 31, 2000 and the related consolidated statements of income for the
fiscal years then ended. The Financial Statements are in accordance with the
books and records of Sellers, have been prepared in accordance with generally
accepted accounting principles applied on a basis consistent with preceding
years and present fairly in all material respects the financial condition of the
Sellers as of the date indicated and the results of their operations and changes
in cash flows for the period then ended, provided that the Financial Statements
do not contain footnotes and lack other presentation items.

            (b) Attached as Schedule 4.11(b) are true and complete copies of the
unaudited consolidated balance sheet of Sellers as of November 30, 2001, and the
related consolidated statement of income for the month and eleven (11) month
period then ended. The Interim Financial Statements are in accordance with the
books and records of Sellers, have been prepared in accordance with generally
accepted accounting principles applied on a basis consistent with the Financial
Statements and present fairly in all material respects the financial condition
of Sellers as of the date indicated and the results of their operations and
changes in financial position for the period then ended; subject, however, to
year-end adjustments which, in the aggregate, will not be materially adverse and
provided that the Interim Financial Statements do not contain footnotes and lack
other presentation items.

      4.12 No Changes. Except as set forth on Schedule 4.12 or as otherwise
contemplated by this Agreement, since November 30, 2001 through the Adjustment
Time, there has not been any:

            (a) amendment or termination of any Contract, Lease or License to
which Sellers are a party with respect to the Station except in the ordinary
course of business;

            (b) increase in compensation paid, payable or to become payable by
Sellers to any of its employees at the Station, except in the ordinary course of
business;

            (c) extraordinary losses (whether or not covered by insurance) or
waiver by Sellers of any extraordinary rights of value;

                                      -20-

<PAGE>

            (d) commitment to or liability to any labor organization which
represents, or proposes to represent, employees of the Station;

            (e) notice from any of the Station's sponsors or any customers
(determined on the basis of the Station's revenues for the trailing twelve (12)
month period) as to any of such sponsor's or customer's intention not to conduct
business with the Station, the result of which loss or losses of business,
individually or in the aggregate, has had, or could reasonably be expected to
have, a Material Adverse Effect; (f) sale, assignment, lease or other transfer
or disposition of any of the Purchased Assets or properties of the Station
except in the ordinary course of business or in connection with the acquisition
of similar property or assets in the ordinary course of business;

            (f) sale, assignment, lease or other transfer or disposition of any
of the Purchased Assets or properties of the Station except in the ordinary
course of business or in connection with the acquisition of similar property or
assets in the ordinary course of business;

            (g) adverse change in cable carriage or channel position on which
the Station is carried (on any cable system with more than 1,000 subscribers);

            (h) period of four consecutive days or more during which the Station
was off the air for any reason or a period of fifteen (15) days or more during
which the Station operated at substantially reduced power;

            (i) termination of the Affiliation Agreement or loss by the Station
of the ABC network affiliation; or

            (j) change in the financial condition, business, assets or results
of operation of the Station which has had a Material Adverse Effect.

      4.13 No Litigation; Labor Disputes; Compliance with Laws. Except as set
forth on Schedule 4.13:

            (a) except for FCC rulemaking procedures generally affecting the
television broadcasting industry, there is no decree, judgment, order,
litigation at law or in equity, arbitration proceeding or other proceeding
before or by any commission, agency or other administrative or regulatory body
or authority pending or, to the Knowledge of Sellers, threatened, to which
Sellers are a party or otherwise relating to the Station or the Purchased Assets
which could reasonably be expected to have a Material Adverse Effect;

            (b) to the Knowledge of Sellers, there is no material investigation
by any commission, agency or other administrative or regulatory body or
authority pending or threatened, which is specifically concerned with the
operations, business or affairs of Sellers, the Station or the Purchased Assets;

            (c) (i) the Station is not subject to or bound by any labor
agreement, and there is no and there has not been any labor strike or request
for union representation pending, or to the Knowledge of Sellers, threatened
against Sellers relating to or affecting the business or operations of the
Station and, (ii) there is no and there has not been any labor dispute,
grievance or controversy, pending, or to the Knowledge of Sellers, threatened
against Sellers relating to or affecting the business or operations of the
Station which could reasonably be expected to have Material Adverse Effect; and

                                      -21-

<PAGE>

            (d) Sellers have carried on and conducted the business and affairs
of the Station in compliance with all applicable federal, foreign, state and
local laws, statutes, ordinances, rules and regulations, and all applicable
court or administrative orders or processes, including but not limited to FCC,
Occupational Safety and Health Administration, Equal Employment Opportunity
Commission ("EEOC"), National Labor Relations Board and Environmental Protection
Agency a violation of which has had or may reasonably be expected to have a
Material Adverse Effect. The Station complies in all material respects with all
applicable statutes, rules and regulations pertaining to equal employment
opportunity.

      4.14 Taxes. Except as disclosed on Schedule 4.14:

            (a) Sellers have duly filed all required federal, state and local
tax returns, reports and estimates for all years and periods (and portions
thereof) for which any such returns, reports and estimates were due by Sellers
(taking into account any permitted extensions), and any and all amounts shown on
such returns and reports to be due and payable have been paid in full except as
may be contested in good faith. All of such returns, reports and estimates are
true and complete in all material respects. Sellers have withheld all taxes
required to be withheld under applicable law and regulations, and such
withholdings have either been paid to the proper governmental agency or set
aside in accounts for such purpose, or accrued, reserved against and entered
upon the books of Sellers, as the case may be; and

            (b) There are, and after the date of this Agreement will be, no tax
deficiencies (including penalties and interest) of any kind assessed against or
relating to Sellers or the Purchased Assets with respect to any taxable periods
ending on or before, or including, the Closing Date of a character or nature
that would result in Liens or claims on any of the Purchased Assets or on
Buyer's title or use of the Purchased Assets or that would result in any claim
against Buyer or the Purchased Assets; provided, however, that Sellers shall not
be deemed to make any representations or warranty with respect to any Liens or
claims arising by reason of, or attributable to, Buyer's use or operation of the
Station or the Purchased Assets on or after the Adjustment Time.

      4.15 Governmental Authorizations. Sellers hold, and, on the Closing Date
Sellers will hold, all regular and valid licenses, permits and authorizations
issued by the FCC to operate the Station as a television broadcast station with
the power with respect to the Station's main broadcast license disclosed on
Schedule 1.6. Such licenses, permits and authorizations constitute all of the
licenses, permits and authorizations that are necessary under the Communications
Act for the operation of the Station. The Licenses are in full force and effect.
Except as set forth on Schedule 4.15, no qualifications, registrations, filings,
privileges, franchises, licenses, permits, approvals or authorizations other
than the Licenses and those as set forth on Schedule 4.15 are required for
Sellers to own and operate the Station in the manner operated on the date
hereof. As of the date hereof, (i) no action or proceeding is pending or, to the
Knowledge of Sellers, threatened before the FCC or any other governmental
authority to revoke, refuse to renew or materially and adversely modify the
Licenses (except for FCC rulemaking procedures generally affecting the
television broadcasting industry), and (ii) there is no pending, issued or
outstanding or, to the Knowledge of Sellers, threatened by or before the FCC any
investigation, order to show cause, cease and desist order, notice of violation,
notice of apparent liability, notice or forfeiture, petition or complaint with
respect to the Station or any of the Licenses.

                                      -22-

<PAGE>

      4.16 Compliance with FCC Requirements. Except as set forth on set forth on
Schedule 4.16, the Station, its physical facilities, electrical and mechanical
systems and transmitting and studio equipment are being and have been operated
in all material respects in accordance with the specifications of the applicable
Licenses, and the Station is in compliance in all material respects with the
Communications Act. Except as set forth on Schedule 4.16, Sellers have complied
in all material respects with the Communications Act concerning limits on the
duration of advertising in children's programming, and the record keeping
obligations related thereto. Except as set forth on Schedule 4.16, all
obligations, reports and other filings required by the FCC with respect to the
Station, including, without limitation, material required to be placed in the
Station's public inspection file, have been properly and timely filed. Except as
set forth on Schedule 4.16, no cable television system has notified Sellers of
any signal quality deficiency or copyright indemnity or other prerequisite to
cable carriage of the Station's signal, and no cable television system has
notified Sellers that it has declined or threatened to decline such carriage or
failed to respond to a request for carriage or sought any form of relief from
carriage from the FCC. To the Knowledge of Sellers, the Station's main
transmitting tower (which is designated Tower #19 and owned by SpectraSite)
located at 1928 West Thirteenth Street, Joplin, Missouri (i) has the structural
capacity to hold, or (ii) is otherwise suitable for, additional DTV antennae and
other equipment necessary for satisfying the FCC's minimum DTV operating
requirements for the Station.

      4.17 Insurance. Schedule 4.17 is a correct list of all liability and
casualty insurance and errors and omissions insurance policies insuring the
business, properties and assets of the Station. Sellers are not in default with
respect to such insurance policies, nor has either of the Sellers failed to give
any notice or present any claim under any policies in a due and timely fashion.

      4.18 Brokers. Neither this Agreement nor the sale and purchase of the
Purchased Assets or any other transaction contemplated by this Agreement was
induced or procured through any Person acting on behalf of or representing
Sellers as broker, finder, investment banker, financial advisor or in any
similar capacity.

      4.19 Employees. Schedule 4.19 is a true and complete list of all of
Sellers' employees as of the date of this Agreement, which list identifies the
name of such employees, and the following compensation information with respect
to each of them: (i) current annual base salary; (ii) accrued vacation and sick
leave time and; (iii) the dates and amounts of the last increase in
compensation. Except as set forth on Schedule 4.19 hereto, or as otherwise
provided by applicable state law, the employment of all employees of the Station
is terminable at will by such employer without any penalty or severance
obligations incurred by such employer. Except as set forth in Schedule 4.19,
neither Seller is bound by any collective bargaining agreement, and to the
Knowledge of Sellers, there exists no organizational effort presently being made
or, threatened by or on behalf of any labor union with respect to employees of
the Station.

      4.20 Financial Benefit Plans. Except as set forth in Schedule 4.20,
neither Seller has at any time maintained or been a party to or made
contributions to any of the following: (i) any "employee pension benefit plan,"
as such term is defined in Section 3(2) of ERISA; or (ii) any "employee welfare
benefit plan," as such term is defined in Section 3(1) of ERISA, whether written
or oral. Except as set forth in Schedule 4.20, all employee benefit plans
maintained by

                                      -23-

<PAGE>

Sellers or to which Sellers are obligated to contribute ("Employee Benefit
Plans") are, and have in the past been, in all material respects maintained,
funded and administered in compliance with ERISA, the Code, and other applicable
law. As to each Employee Benefit Plan for which an annual report, including
schedules, or comparable report is required to be filed under ERISA or the Code,
no liabilities, with respect to such plan, existed on the dates of such annual
report except as disclosed therein and, except as disclosed in Schedule 4.20, no
material adverse change has occurred with respect to the financial data covered
by such annual report since the date thereof. Except as disclosed in Schedule
4.20, the execution of this Agreement and performance of the transactions
contemplated hereby will not in and of itself constitute a triggering event
under any Employee Benefit Plan that will result in any payment (whether of
severance pay or otherwise) becoming due from either Seller. Each Employee
Benefit Plan that is an employee pension benefit plan, if any, has received a
determination letter stating that it is tax-qualified under Section 401(a) of
the Code, and no event has occurred that could result in a disqualification of
such plan. Neither Seller has ever maintained a pension plan subject to Section
412 of the Code or Title IV of ERISA, and no such Person has ever maintained,
contributed to or been required to contribute to any employee benefit plan that
is a "multiemployer plan" (as defined in Section 3(37)(A) or (D) of ERISA) as
amended by the Multiemployer Pension Plan Amendments Acts of 1980. Neither
Seller nor any plan fiduciary has engaged in any "prohibited transaction," as
defined in Section 406 of ERISA, the Code, or in Section 4975 of the Code with
respect to any Employee Benefit Plan. No complete or partial termination has
occurred within the five (5) years preceding the date hereof with respect to any
Employee Benefit Plan.

      4.21 Environmental Compliance. Except as set forth in Schedule 4.21
(including the reports attached thereto):

            (a) Sellers have complied in all material respects and are in
material compliance with all Environmental Laws;

            (b) Sellers are not a party to any litigation or administrative
proceeding and, to the Knowledge of Sellers, nor is any litigation or
administrative proceeding threatened against them, which in either case (i)
asserts or alleges that Sellers violated any Environmental Laws, (ii) asserts or
alleges that Sellers are required to clean up, remove or take remedial or other
response action due to the disposal, depositing, discharge, leaking or other
release of any Hazardous Materials at the Real Property, or (iii) asserts or
alleges that Sellers are required to pay all or a portion of the cost of any
past, present or future cleanup, removal or remedial or other response action
which arises out of or is related to the disposal, depositing, discharge,
leaking or other release of any Hazardous Materials by Sellers at any of the
Real Property;

            (c) with respect to the period during which Sellers owned or
occupied the Real Property, and, to the Knowledge of Sellers with respect to the
time before Sellers owned or occupied the Real Property, no person has caused or
permitted Hazardous Materials to be stored, deposited, treated, recycled or
disposed of on, under or at any Real Property owned, leased, used or occupied by
Sellers which would subject Sellers to liability for the cleanup, removal or
some other remedial action under Environmental Laws;

                                      -24-

<PAGE>

            (d) there are not now, nor, to the Knowledge of Sellers, have there
previously been, tanks or other facilities on, under, or at the Real Property
which contained any Hazardous Materials which, if known to be present in soils
or ground water, would subject any owner or operator of such Real Property to
liability for cleanup, removal or some other remedial action under Environmental
Laws;

            (e) to the Knowledge of Sellers, there are not conditions existing
currently which would subject any owner or operator to the Real Property to
damages, penalties, injunctive relief or cleanup costs under any Environmental
Laws or which require or are likely to require cleanup, removal, remedial action
or other response pursuant to Environmental Laws;

            (f) Sellers are not subject, as a result of its interest in the Real
Property, to any judgment, order or citation related to or arising out of any
Environmental Laws and has not been named or listed as a potentially responsible
party by any governmental body or agency in a matter related to or arising out
of any Environmental Laws; and

            (g) the operation of the Station does not exceed the permissible
levels of exposure to RF radiation specified in either the FCC's current rules,
regulations and policies concerning RF radiation.

      4.22 Affiliation Agreement. As of the date of this Agreement, subject to
the disclosures with respect to the Affiliation Agreement on Schedule 1.2, (i)
the Affiliation Agreement is in full force and effect and (ii) ABC has not given
Sellers written or verbal notice of any type of ABC's intention to terminate or
fail to renew the Affiliation Agreement or that ABC is considering such possible
termination or failure to renew the Affiliation Agreement.

                                    ARTICLE V
                     REPRESENTATIONS AND WARRANTIES OF BUYER

      Buyer represents and warrants to Sellers that the statements contained in
this Article V are true, correct and complete as of the date of this Agreement,
as follows:

      5.1 Organization. Buyer is a corporation duly incorporated, validly
existing and in good standing under the laws of the State of Delaware and on the
Closing Date Buyer shall be duly qualified to do business as a foreign entity in
Missouri, and Buyer has full power to purchase the Purchased Assets pursuant to
this Agreement.

      5.2 Authorization; Enforceability. The execution, delivery and performance
of this Agreement and the TBA Agreement and all of the documents and instruments
required hereby by Buyer are within the power of Buyer and have been duly
authorized by all necessary action by Buyer. This Agreement and the TBA
Agreement are, and the other documents and instruments required hereby will be,
when executed and delivered by Buyer, the valid and binding obligations of Buyer
enforceable against Buyer in accordance with their respective terms, subject
only to bankruptcy, insolvency, reorganization, moratorium or similar laws at
the time in effect affecting the enforceability or right of creditors generally
and by general equitable principles which may limit the right to obtain
equitable remedies.

                                      -25-

<PAGE>

      5.3 Absence of Conflicting Laws and Agreements. Except as set forth on
Schedule 5.3, neither the execution, delivery or performance of this Agreement
or the TBA Agreement by Buyer nor the consummation of the sale and purchase of
the Purchased Assets or any other transaction contemplated by this Agreement or
the TBA Agreement does or will, with or without the giving of notice, or the
lapse of time, or otherwise:

            (a) conflict with, result in a breach of, or constitute a default
under, the certificate of incorporation or bylaws of Buyer, or any federal,
state or local law, statute, ordinance, rule or regulation, or any court or
administrative order or process, or any material contract, agreement,
arrangement, commitment or plan to which Buyer is a party or by which Buyer or
its assets is bound;

            (b) require the consent, waiver, approval, permit, license,
clearance or authorization of, or any declaration or filing with, any court or
governmental or public agency other than the FCC Consent; or

            (c) require the consent of any Person under any material agreement,
material arrangement or material commitment of any nature to which Buyer is a
party or by which it is bound.

      5.4 Brokers. Neither this Agreement nor the sale and purchase of the
Purchased Assets or any other transaction contemplated by this Agreement was
induced or procured through any Person acting on behalf of or representing Buyer
as broker, finder, investment banker, financial advisor or in any similar
capacity.

      5.5 FCC Qualification. Except for proceedings of general applicability to
the television industry, Buyer knows of no facts that would, under the
Communications Act or the present or pending rules, regulations, published
policies and published practices of the United States Federal Trade Commission
or the United States Department of Justice, disqualify Buyer as an assignee of
the Licenses or as an owner or operator of the Station. Buyer is now and as of
the Closing Date will be legally and financially qualified under the
Communications Act to become the assignee of the Licenses.

      5.6 Financing. The Buyer has and at the Closing will have adequate funds
or financing to consummate the transactions contemplated by this Agreement.

      5.7 Due Diligence.

            (a) Buyer has conducted its own independent investigation of the
Sellers and their business, has been provided the opportunity to obtain
information and documents concerning the Sellers and has had the opportunity to
ask questions of, and receive answers from, the officers of the Sellers
pertaining to the Sellers and the Station.

            (b) With respect to the Affiliation Agreement, Buyer acknowledges
and agrees that (i) the current term thereof expires on August 7, 2002, and (ii)
it shall not be a condition to Buyer consummating the Closing that ABC's consent
to the assignment of the Affiliation Agreement shall have been obtained or that
the Affiliation Agreement shall not have been terminated by ABC.

                                      -26-

<PAGE>

      5.8 Absence of Litigation. There is no decree, judgment, order, litigation
at law or in equity, arbitration proceeding or proceeding before or by any
commission, agency or other administrative or regulatory body or authority
pending or, to the knowledge of Buyer, threatened to which Buyer is a party and
which could materially and adversely affect Buyer's ability to purchase the
Purchased Assets under this Agreement or to perform its obligations under the
TBA Agreement.

                                   ARTICLE VI
                       CERTAIN MATTERS PENDING THE CLOSING

      From and after the date of this Agreement and until the Closing (unless
otherwise provided herein):

      6.1 Notice of Adverse Changes. Pending the Closing, Sellers shall give
Buyer prompt written notice of the occurrence of any of the following as they
gain Knowledge thereof:

            (a) the commencement of any proceeding or litigation at law or in
equity or before the FCC or any other commission, agency or administrative or
regulatory body or authority which involves any of the Licenses or which could
reasonably be expected to have a Material Adverse Effect, other than proceedings
or litigation of general applicability to the television broadcasting industry;
or

            (b) any material violation by Sellers, or written notice of any
alleged material violation by Sellers, of any federal, state or local law,
statute, ordinance, rule or regulation.

      6.2 Operations Pending Closing. Subject to the provisions of Section 3.2
regarding control of the Station, after the date hereof and prior to the Closing
and subject to the TBA Agreement, Sellers shall:

            (a) operate the Station in all material respects in accordance with
applicable FCC requirements, rules and regulations and make all filings
necessary to make the representation in Section 4.15 true and correct at
Closing;

            (b) not sell, lease, mortgage, pledge or otherwise dispose of any of
the Purchased Assets except for transactions in the ordinary and regular course
of the operation of the Station where the proceeds of such disposition are used
to replace such Purchased Assets;

            (c) except with Buyer's prior written consent, not enter into, or
become obligated under, amend or otherwise modify any agreement or commitment on
behalf of the Station;

            (d) maintain in full force and effect policies of liability and
casualty insurance of substantially the same type, character and coverage as the
policies currently carried with respect to the business, operations and assets
of the Station;

            (e) not enter into any Tradeout Agreements relating to the Station,
and shall take all commercially reasonable action to protect the present service
areas of the Station from increased electrical interference from other stations,
existing or proposed, and take all

                                      -27-

<PAGE>

commercially reasonable action to maintain carriage, if any, of the Station's
signals on all cable television systems or satellite systems; and

            (f) except as required by law, not enter into any collective
bargaining agreement or modify the employment terms applicable to any employee
of the Station.

      Notwithstanding any provision of this Agreement or the TBA Agreement to
the contrary, none of the following shall be deemed (i) a breach of Sellers'
agreements or covenants under this Section 6.2 or under the TBA Agreement or of
the representations and warranties contained in Article IV hereof, or (ii) a
failure of any of the conditions set forth in Article VII to be satisfied: any
fact or circumstance that occurs as a result of either any action or omission to
act of the Buyer pursuant to the TBA Agreement or any other agreement or
arrangement, or by virtue of Buyer's activities or operations with respect to
the Station.

      6.3 Reports. Within thirty (30) days after the end of the calendar month
that includes the date hereof, Sellers will furnish Buyer with a copy of
Sellers' monthly financial reports for the Station for December 2001 (including
a balance sheet and operating statement for each such month and the fiscal year
to the end of such months), and Sellers will furnish to Buyer within ten (10)
days after filing all reports filed with the FCC with respect to the Station
after the date hereof.

      6.4 Consents. Sellers will use its commercially reasonable efforts to
obtain all consents and approvals required from third Persons, whose consent or
approval is required pursuant to any Contract or Lease prior to the Closing Date
as a result of the purchase and sale of the Purchased Assets as contemplated
herein. Anything to the contrary in this Agreement notwithstanding, Sellers
shall not be required to pay any fees or provide or deliver any other
consideration to any such Person in order to obtain such consent or approval.

      6.5 Cooperation; Reasonable Efforts; Release. Buyer and Sellers will
cooperate in all respects in connection with and use commercially reasonable
efforts to: (a) secure any nongovernmental approvals, consents and waivers of
third parties listed in Schedule 4.3; (b) give notices to any governmental
authority, or secure the permission, approval, determination, consent or waiver
of any governmental authority, required by law in connection with the transfer
of the Purchased Assets from Sellers to Buyer; and (c) cause all of the
conditions set forth in Article VII and Article VIII to be satisfied (but not
waived). Without limiting the generality of the foregoing:

            (a) Buyer shall, on or prior to the Closing, execute and deliver to
ABC and Sellers, in form and substance reasonably satisfactory to ABC and
Sellers, the acknowledgement and agreement of Buyer that, upon consummation of
the assignment of the Station's license and the Closing, Buyer will assume and
perform the Affiliation Agreement in its entirety without limitation of any
kind; and

            (b) Buyer shall, on or prior to the Closing, execute and deliver to
SpectraSite and Sellers, in form and substance satisfactory to SpectraSite and
Sellers, the acknowledgement and agreement of Buyer that, upon consummation of
the Closing, Buyer will assume, be bound by and perform the SpectraSite
Agreements in their entirety without limitation of any kind;

                                      -28-

<PAGE>

provided that in no event shall Buyer be required to assume any obligation or
liability which either accrues or arises under the SpectraSite Agreements prior
to the Closing (provided that such language shall not be deemed to impair
Buyer's reimbursement obligations under the TBA Agreement) or which relates to
any property not included in the Purchased Assets; provided further that Buyer
shall not be required to assume the obligations set forth in Section 2.7 of the
Master Site Lease Agreement that is part of the SpectraSite Agreements (unless
Buyer's lenders consent to such assumption, which consent the Buyer shall use
its commercially reasonable efforts to obtain).

Buyer and Sellers shall, and shall cause their affiliates to, use commercially
reasonable efforts to cause Sellers' parent, GOCOM Holdings, LLC (the "Parent"),
Non-License Seller and the Parent's other direct and indirect subsidiaries
(collectively, the "Subsidiaries") to be released and discharged, effective as
of the consummation of the Closing and in form and substance reasonably
satisfactory to Sellers, from all liabilities and obligations under and in
respect of any or all of the SpectraSite Agreements (except to the extent such
liabilities and obligations relate to the period prior to the Closing or relate
to any property not included in the Purchased Assets), including, without
limitation, as set forth in Section 7.14 of the Master Site Lease Agreement that
is part of the SpectraSite Agreements.

      6.6 Tax Returns and Payments.

            (a) All tax returns, estimates and reports with respect to the
Purchased Assets that are required to be filed by Sellers prior to the Closing
Date or relating to periods prior to the Closing Date will be timely filed when
due with the appropriate governmental agencies or extensions will have been
granted; and

            (b) All taxes pertaining to ownership of the Purchased Assets prior
to the Closing Date will be paid by Sellers (or with respect to income and
franchise taxes, the Parent, as the case may be) when due and payable unless
protested in good faith.

      6.7 Release of Liens. Except for the Permitted Liens, at or prior to the
Closing, Sellers shall obtain the release of all Liens disclosed in the
Schedules hereto and any other Liens on the Purchased Assets and shall duly file
releases or terminations of all such Liens in each governmental agency or office
in which any such Lien or evidence thereof shall have been previously filed.

      6.8 Public Announcement. Sellers shall publish and broadcast a public
notice concerning the filing of the application for assignment of the Licenses
in accordance with the requirements of Section 73.3580 of the FCC's Rules, and
the parties shall file with the FCC copies of this Agreement, the TBA Agreement
and any and all other required documentation in connection with FCC applications
described in Section 3.1. As to any other announcements or press releases, no
party hereto shall, and each party shall direct and use reasonable efforts to
cause its representatives and agents to not, directly or indirectly, issue any
press release or make any public announcement, comment or statement with respect
to (not including to employees of the Station), or otherwise publicly divulge or
disclose the existence of, this Agreement, the TBA

                                      -29-

<PAGE>

Agreement or the transactions contemplated hereby or thereby or the terms,
conditions or other aspects of such transactions without prior approval of the
other parties hereto (which shall not be unreasonably withheld), except (i) as
and to the extent that such party shall be obligated by law, rule or regulation,
in which case the other party shall be so advised and the parties shall use
commercially reasonable efforts to cause a mutually agreeable release or
announcement to be issued and (ii) in connection with Sellers receiving the
approval of their senior lender to such transactions.

      6.9 Exclusivity. Sellers agree and covenant that until Closing or this
Agreement expires or is terminated, neither Seller nor any of their
representatives, will discuss, negotiate or offer (or solicit offers) regarding
a sale, transfer or other disposition of the Station or the Purchased Assets or
any merger, combination, restructuring, refinancing or similar transaction
involving Sellers (a "Sale") with another Person or provide any information to
any other Person regarding the Station or Sellers in that connection. Sellers
represent that neither Seller is a party to or bound by any agreement with
respect to a Sale except for this Agreement. Sellers will disclose to Buyer the
existence or occurrence of any proposal or contract whether written or oral
which it may receive during the term of this Agreement in respect of any such
competing transaction.

      6.10 Real Estate Matters.

            (a) Prior to the Closing, Sellers will reasonably cooperate with
Buyer (at no cost to Seller) so that Buyer may obtain, for the benefit of and at
the cost of Buyer, all documents reasonably required (including estoppel
certificates, owner's affidavits, indemnities and GAP undertakings) for a final
commitment for an ALTA Owners Policy of Title Insurance, as the case may be,
Form B-1970 (or if not reasonably attainable, 1992 Form), for each parcel of
Owned Real Property, issued by a title insurer designated by Buyer (the "Title
Insurer"), in such amount as Buyer reasonably determines to be the fair market
value thereof, insuring the Buyer's interest in such parcel, subject only to the
Permitted Liens, and with such other endorsements and other terms and conditions
as Buyer may reasonably request.

            (b) At Buyer's request, Sellers will reasonably cooperate with Buyer
(at no cost to Sellers) so that Buyer may procure for the benefit of Buyer, in
preparation for the Closing, current surveys of each parcel of Owned Real
Property disclosing no survey defects or encroachments which materially
interfere with the current business and operation of the Station, prepared by a
licensed surveyor and conforming to 1992 ALTA/ACSM Minimum Detail Requirements
for Urban Land Title Surveys, and such standards as the Title Insurer may
reasonably require as a condition to the removal of any survey exceptions from
the commitment for the title insurance policy described in Section 6.10(a), and
certified to Buyer, Buyer's lenders and the Title Insurer, in a form sufficient
to permit the issuance of the title policies described above in Section 6.10(a).
Buyer shall bear the cost of obtaining the surveys.

      6.11 Access and Information. From the date hereof, Buyer and its financing
sources shall be entitled to make or cause to be made such reasonable
investigation of the Purchased Assets as the Buyer and its financing sources
deem necessary or advisable, and the Sellers shall reasonably cooperate with any
such investigation. In furtherance of the foregoing, but not in limitation
thereof, Seller will provide Buyer and its financing sources and their
respective agents

                                      -30-

<PAGE>

and representatives, or cause them to be provided, with reasonable access to any
and all of its management personnel, accountants, representatives, premises,
properties, contracts, commitments, book, records and other information of
Sellers upon reasonable notice and during regular business hours and shall
furnish such financial and operating data, projections, forecasts, business
plans, strategic plans and other data related to the Sellers and their
respective businesses as the Buyer, its financing sources and their respective
agents, representatives and advisors shall reasonably request from time to time.
Sellers and their Affiliates agree to use their reasonable efforts to cause
their respective officers, employees, consultants, agents, accountants and
attorneys to reasonably cooperate with the Buyer, its financing sources,
representatives and advisors in connection with such review and the financing of
the transactions contemplated hereby, including the preparation by the Buyer and
its financing sources of any offering memorandum, bank book, registration
statement or related documents or other documents related to such financing;
provided that the Buyer shall be responsible and shall promptly pay for any out
of pocket expenses incurred by the Sellers in such regard.

                                   ARTICLE VII
                CONDITIONS PRECEDENT TO THE OBLIGATIONS OF BUYER

      Each and every obligation of Buyer to be performed on the Closing Date
shall be subject to the satisfaction prior to or at the Closing of the following
express conditions precedent:

      7.1 Compliance with Agreement. Subject to the last paragraph of Section
6.2, Sellers shall have performed and complied with Sellers' material
obligations under this Agreement and the TBA Agreement which are to be performed
or complied with by it prior to or at the Closing; provided that the Buyer shall
not be entitled to rely on the failure of any obligation of the Sellers under
this Agreement or the TBA Agreement (not including obligations of the Sellers
under Sections 2.1 and 2.3(a) which are required or permitted to be satisfied at
Closing and other material obligations which the Sellers have complied with up
to the date which is 15 days prior to the Closing Date but which the Sellers do
not comply with thereafter prior to the Closing Date) to have been complied
with, in order to not consummate the transactions contemplated hereby, unless
the Buyer shall have provided the Sellers with written notice at least 15 days
prior to the Closing Date to the effect that the Buyer does not intend to
consummate the transactions contemplated hereby unless such obligation has been
complied with prior to the Closing Date; provided that if the Sellers receive
such a notice and are acting in good faith to satisfy the obligations described
therein and a delay will not materially and adversely affect the Buyer, then the
Closing Date shall be postponed for such a reasonable period of time (in any
event not to exceed 30 days) as is necessary for the Sellers to satisfy such
obligations; provided that notwithstanding anything herein to the contrary,
Buyer shall not be obligated to consummate the transactions contemplated herein
to the extent the Sellers fails to perform or comply with any of their
obligations herein to the extent such failure is a result of either Sellers' bad
faith.

      7.2 Representations and Warranties. Subject to the last paragraph of
Section 6.2, the representations and warranties made by Sellers (i) in Sections
4.1, 4.2, 4.3, 4.5, 4.9(a), 4.11, 4.13 (a) and (b), 4.14, 4.15 and 4.18 of this
Agreement shall have been true and correct as of the Adjustment Time and shall
be true and correct as of the Closing Date (provided that for purposes of the
truth of such representations on the Closing Date, Sellers shall be permitted,
subject to the reasonable approval of Buyer, to amend the Schedules with respect
to such Sections to account

                                      -31-

<PAGE>

for events occurring following the Adjustment Time), and (ii) in Sections 4.4,
4.6, 4.7, 4.8, 4.9(b)-(g), 4.10, 4.12, 4.13 (c) and (d), 4.16, 4.17, 4.19, 4.20,
4.21 and 4.22 shall have been true and correct as of the Adjustment Time; in
each case under either clause (i) or (ii) above disregarding all materiality
qualifiers set forth therein, except for (A) matters which have not or could not
reasonably be expected to have a Material Adverse Effect (after giving due
regard to any positive events during the applicable period) and (B) changes
permitted or contemplated by this Agreement, or contemplated or effected as a
result of the TBA Agreement or Buyer's operations, activities, acts or omissions
with respect to the Station.

      7.3 Deliveries at Closing. Sellers shall have delivered or caused to be
delivered to Buyer the documents, each properly executed and dated as of the
Closing Date as required pursuant to Section 2.3(a).

      7.4 Other Documents. Sellers shall have delivered to Buyer such documents
and certificates of officers of Sellers and public officials as shall be
reasonably requested by Buyer's counsel to establish the existence and good
standing of Sellers and the due authorization of this Agreement and the
transactions contemplated hereby by Sellers.

      7.5 [Intentionally deleted.]

      7.6 Absence of Investigations and Proceedings. Except for governmental
investigations relating to high definition television or the broadcast industry
generally, including proceedings of general applicability under the Cable Act
and as set forth on Schedule 7.6, there shall be no claim, suit, action or other
proceeding pending or threatened before or by any court, governmental agency,
arbitrator or other entity against any of the parties to this Agreement that
makes it reasonably likely to be unlawful to consummate the Closing.

      7.7 FCC Consent. The FCC Consent for the Station's main broadcast
television license (KODE-TV) (without any conditions materially adverse to Buyer
other than those generally applicable to assignees of such licenses) shall have
been issued, and shall, at Closing, be a Final Order and in full force and
effect.

      7.8 Licenses. License Seller or Non-License Seller shall be the holder of
the Station's main broadcast television license and all other material licenses
lawfully necessary for the operation of the Station and there shall not have
been any modification of any of such Licenses that has had or could reasonably
be expected to have a Material Adverse Effect. Subject to the last paragraph of
Section 6.2, no proceeding shall be pending or, to the Knowledge of Sellers,
threatened in or before the FCC that is reasonably likely to result in the
revocation, cancellation, failure to renew, suspension or modification in a
material and adverse way of any of the Licenses described above.

      7.9 Release of Liens. All Liens (other than Permitted Liens) on the
Purchased Assets shall be released as provided in Section 6.7.

      If any of the conditions set forth in this Article VII have not been
satisfied prior to or at the Closing, Buyer may (without waiving any other right
or remedy under this Agreement or the TBA Agreement) in its sole discretion
waive any such condition (other than as set forth in

                                      -32-

<PAGE>

Section 7.7) and elect to proceed with the consummation of the transactions
contemplated hereby.

                                  ARTICLE VIII
               CONDITIONS PRECEDENT TO THE OBLIGATIONS OF SELLERS

      Each and every obligation of Sellers to be performed on the Closing Date
shall be subject to the satisfaction prior to or at the Closing of the following
express conditions precedent:

      8.1 Compliance with Agreement. Buyer shall have performed and complied in
all material respects with all of its obligations under this Agreement and the
TBA Agreement which are to be performed or complied with by it prior to or at
the Closing.

      8.2 Representations and Warranties. The representations and warranties
made by Buyer in this Agreement shall be true and correct in all material
respects as of the Closing Date with the same force and effect as though such
representations and warranties had been made on the Closing Date.

      8.3 Deliveries at Closing. Buyer shall have delivered, or caused to be
delivered, to Sellers the documents, each properly executed and dated as of the
Closing Date, required pursuant to Section 2.3(b) and paragraphs (i) and (ii) of
Section 6.5. Buyer shall also have made the payments described in Section 2.2.

      8.4 Other Documents. Buyer shall have delivered, or caused to be
delivered, to Sellers such documents and certificates of officers of Buyer and
of public officials as shall be reasonably requested by Sellers' counsel to
establish the existence and good standing of Buyer and the due authorization of
this Agreement and the transactions contemplated hereby by Buyer.

      8.5 Absence of Investigations and Proceedings. Except for governmental
investigations relating to high definition television or the broadcast industry
generally, including proceedings of general applicability under the Cable Act
and as set forth on Schedule 7.6, no claim, suit, action or other proceeding
shall be pending or threatened before or by any court, governmental agency,
arbitrator or other entity against any of the parties to this Agreement the
effect of which would make it reasonably likely to be unlawful to consummate the
transactions contemplated by this Agreement to be performed prior to or at the
Closing.

      8.6 Governmental Consents. The FCC Consent shall have been issued and
shall be in full force and effect. All other material authorizations, consents
or approvals of any and all governmental regulatory authorities necessary in
connection with the consummation of the transactions contemplated by this
Agreement shall have been obtained and be in full force and effect.

      8.7 Required Consent and Release. There shall have been secured from
SpectraSite and Worldnow such permissions, approvals, determinations, consents,
waivers and releases as set forth on Schedule 8.7, including, without
limitation, a release of any and all obligations of the Parent, Sellers, and the
Subsidiaries from any and all further obligations and liabilities (except to the
extent such liabilities and obligations relate to the period prior to the
Closing or relate to any property not included in the Purchased Assets) under
the SpectraSite Agreements or the

                                      -33-

<PAGE>

Affiliation Agreement with Gannaway Web Holdings, LLC d/b/a WorldNow described
on Schedule 1.2.

      If any of the conditions set forth in this Article VIII have not been
satisfied, Sellers may (without waiving any other right or remedy under this
Agreement or the TBA Agreement) in their sole discretion waive any of such
conditions (other than as set forth in Section 8.6) and elect to proceed with
the consummation of the transactions contemplated hereby.

                                   ARTICLE IX
                                 INDEMNIFICATION

      9.1 Survival of Representations and Warranties. All of the representations
and warranties of the parties hereto contained in the Agreement shall survive
the Closing (regardless of any investigation or inquiry of any party and even if
the damaged party knew or had reason to know of any misrepresentation or breach
of warranty at the time of Closing) and continue in full force and effect until
September 30, 2002; provided, however, that (i) the representations and
warranties contained in Section 4.21 (related to Environmental Compliance) shall
survive the Closing and continue in full force and effect until April 30, 2003;
and (ii) the representations and warranties contained in Section 4.14 (related
to Taxes) shall survive the Closing and continue in full force and effect for a
period expiring one (1) year prior to the expiration of the applicable statutes
of limitation. Any claim with respect to the foregoing sentence under Section
9.3 or 9.4 must be asserted in writing with reasonable particularity by the
party making such claim within the applicable survival period.

      9.2 Survival of Covenants and Agreements. The respective covenants and
agreements of the parties contained in this Agreement shall survive the Closing.
Any claim as to a breach of a covenant or agreement under Section 9.3 or 9.4
must be asserted in writing with reasonable particularity by the party making
such claim.

      9.3 Indemnification by Sellers. Subject to (a) the survival provisions set
forth in Section 9.1 and (b) the other limitations set forth in this Article IX,
Sellers shall jointly and severally indemnify and hold harmless Buyer, its
successors and assigns (collectively, "Buyer Indemnified Parties") from and
against any and all losses, damages, costs, expenses, liabilities, obligations
and claims of any kind (including, without limitation, reasonable attorneys'
fees) ("Losses") which Buyer Indemnified Parties may at any time suffer or
incur, or become subject to, as a result of or in connection with:

                  (i) subject to the last paragraph of Section 6.2, any breach
      of the representations and warranties made by Sellers in or pursuant to
      this Agreement, or in any instrument, certificate or affidavit delivered
      by Sellers at the Closing in accordance with the provisions of this
      Agreement;

                  (ii) subject to the last paragraph of Section 6.2, any failure
      by Sellers to carry out, perform, or otherwise fulfill or comply with any
      covenant, agreement, undertaking, or obligation under this Agreement or
      the TBA Agreement;

                  (iii) the Retained Liabilities;

                                      -34-

<PAGE>

                  (iv) without limiting clause (iii) above, any and all losses,
      liabilities or damages resulting from the litigation required to be listed
      on Schedule 4.13; or

                  (v) any suit, action or other proceeding brought by any
      governmental authority or other Person arising out of, or in any way
      related to, any of the matters referred to in Sections 9.3(i), 9.3(ii),
      9.3(iii), or 9.3(iv);

provided, however, that if any action, suit, proceeding, claim, liability,
demand or assessment shall be asserted against any Buyer Indemnified Parties in
respect of which such Buyer Indemnified Parties proposes to demand
indemnification, such Buyer Indemnified Parties shall notify the Sellers thereof
within a reasonable period of time after assertion thereof, and such notice
shall include copies of all suit, service and claim documents, all other
relevant documents in the possession of the Buyer Indemnified Parties, and an
explanation of the Buyer Indemnified Parties' contentions and defenses with as
much specificity and particularity as the circumstances permit, provided, that
the failure of the Buyer Indemnified Parties to give such notice shall not
relieve the Sellers of their obligations under this Section 9.3, except to the
extent that the Sellers shall have been prejudiced thereby. Subject to rights of
or duties to any insurer or other third Person having liability therefor, the
Sellers shall have the right within twenty (20) days after receipt of such
notice to assume the control of the defense, compromise or settlement of any
such action, suit, proceeding, claim, liability, demand, or assessment,
including, at its own expense, employment of counsel; provided further, however,
that if the Sellers shall have exercised their right to assume such control, the
Buyer Indemnified Parties may, in its sole discretion and expense, employ
counsel to represent it (in addition to counsel employed by the Sellers) in any
such matter, and in such event counsel selected by the Sellers shall be required
to cooperate with such counsel of the Buyer Indemnified Parties in such defense,
compromise or settlement for the purpose of informing and sharing information
with such Buyer Indemnified Parties. So long as the Sellers are defending in
good faith any such claim or demand asserted by a third Person against the Buyer
Indemnified Parties, the Buyer Indemnified Parties shall not settle or
compromise such claim or demand. If the Sellers have assumed the defense of any
such claim or demand, then they shall have the power and authority to settle or
consent to the entry of judgment without the consent of Buyer if the judgment or
settlement results only in the payment by Sellers of the full amount of money
damages, provided, that the Sellers have made arrangements for the payment of
such damages in a manner reasonably satisfactory to Buyer; in all other events,
the Sellers shall not consent to the entry of judgment or enter into any
settlement without the prior written consent of the Buyer Indemnified Parties,
which consent shall not be unreasonably withheld. The Buyer Indemnified Parties
shall make available to the Sellers or their agents all records and other
materials in the Buyer Indemnified Parties' possession reasonably required by
them for their use in contesting any third party claim or demand.

      9.4 Indemnification by Buyer. Subject to the survival provisions set forth
in Section 9.1, Buyer agrees to indemnify and hold harmless Sellers and their
respective successors and assigns (individually a "Seller Indemnitee," and
collectively the "Seller Indemnified Parties") from, against and in respect of
any and all Losses, which Seller Indemnified Parties may at any time suffer or
incur, or become subject to, as a result of or in connection with:

                                      -35-

<PAGE>

                  (i) any breach of the representations and warranties of Buyer
      contained in this Agreement or in any instrument, certificate or affidavit
      delivered by or on behalf of Buyer at the Closing in accordance with this
      Agreement; and

                  (ii) any failure by Buyer to perform or otherwise fulfill or
      comply with any covenant, undertaking, agreement or obligation to be
      performed, fulfilled, or complied with by Buyer hereunder and under the
      TBA Agreement prior to, on or after the Closing;

                  (iii) the Assumed Liabilities; or

                  (iv) any suit, action or other proceeding brought by any
      governmental authority or Person arising out of, or in any way related to,
      any of the matters referred to in 9.4(i) , 9.4(ii) or 9.4(iii);

provided, however, that if any action, suit, proceeding, claim, liability,
demand or assessment shall be asserted against any Seller Indemnitee in respect
of which such Seller Indemnitee proposes to demand indemnification, such Seller
Indemnitee shall notify Buyer thereof within a reasonable period of time after
assertion thereof, and such notice shall include copies of all suit, service and
claim documents, all other relevant documents in the possession of the Seller
Indemnitee and an explanation of the Seller Indemnitee's contentions and
defenses with as much specificity and particularity as the circumstances permit,
provided, that the failure of the Seller Indemnitee to give such notice shall
not relieve Buyer of its obligations under this Section 9.4, except to the
extent that Buyer shall have been prejudiced thereby. Subject to rights of or
duties to any insurer or other third Person having liability therefor, Buyer
shall have the right within twenty (20) days after receipt of such notice to
assume the control of the defense, compromise or settlement of any such action,
suit, proceeding, claim, liability, demand, or assessment, including, at its own
expense, employment of counsel; provided further, however, that if Buyer shall
have exercised its right to assume such control, the Seller Indemnitee may, in
its sole discretion and expense, employ counsel to represent it (in addition to
counsel employed by Buyer) in any such matter, and in such event counsel
selected by Buyer shall be required to cooperate with such counsel of the Seller
Indemnitee in such defense, compromise or settlement for the purpose of
informing and sharing information with such Seller Indemnitee. So long as Buyer
is defending in good faith any such claims or demands asserted by a third Person
against the Seller Indemnitee, the Seller Indemnitee shall not settle or
compromise such claim or demand. If Buyer has assumed the defense of any such
claim or demand, then it shall have the power and authority to settle or consent
to the entry of judgment without the consent of Sellers if the judgment or
settlement results only in the payment by Buyer of the full amount of money
damages, provided, that Buyer has made arrangements for the payment of such
damages in a manner reasonably satisfactory to Sellers; in all other events,
Buyer shall not consent to the entry of judgment or enter into any settlement
without the prior written consent of Sellers, which consent shall not be
unreasonably withheld. The Seller Indemnitee shall make available to the Buyer
or its agents all records and other materials in the Seller Indemnitee's
possession reasonably required by it for its use in contesting any third party
claim or demand.

      9.5 Remedies. The indemnification provisions of this Article IX are the
sole and exclusive post-Closing remedy of Buyer and Sellers for a breach or
nonperformance of any

                                      -36-

<PAGE>

representations, warranties or covenants contained in this Agreement or in any
related agreement, document, instrument or certificate (other than (i) the
rights and remedies contained in the TBA Agreement, which shall be deemed
non-exclusive herewith, (ii) in the case of fraud, and (iii) rights to seek
specific performance of post-closing covenants).

      9.6 Certain Limitations of Liability.

            (a) Anything to the contrary herein notwithstanding, no recovery
under the indemnification provisions of this Agreement shall include any
special, indirect, incidental or consequential damages whatsoever.

            (b) No Loss shall be asserted by any party with respect to any
matter to the extent such Loss is covered by insurance.

            (c) Any provision of this Agreement to the contrary notwithstanding,
the Seller Indemnitors shall have no obligation to indemnify any Buyer
Indemnified Parties for any Losses suffered or incurred by the Buyer Indemnified
Party for a breach of the representations or warranties of the Sellers made
under this Agreement or in any instrument, certificate or affidavit delivered by
or on behalf of Sellers under this Agreement until such Losses exceed an
aggregate deductible of Fifty Thousand Dollars ($50,000.00) (the "Indemnity
Deductible") (after which point the Seller Indemnitors shall be obligated to
indemnify Buyer from and against all Losses in excess of the Indemnity
Deductible); provided, however, that, notwithstanding any provision to the
contrary in this Agreement, Buyer Indemnified Parties shall not be entitled to
be indemnified by Sellers for any such Losses unless such Losses relating to an
individual claim exceed Five Thousand Dollars ($5,000.00), and such Losses
related to an individual claim for Losses for less than or equal to Five
Thousand Dollars ($5,000.00) shall not be counted toward the Indemnity
Deductible. For example, if Buyer Indemnified Parties suffer such Losses in
respect of five separate claims of Four Thousand Dollars ($4,000.00) each, none
of such claims will be counted in determining whether the Indemnity Deductible
has been satisfied. For purposes of this Section 9.6(c), an individual claim for
such Losses shall include any claims arising out of the same transaction or
occurrence.

            (d) Any provision of this Agreement to the contrary notwithstanding,
the aggregate amount of Buyer Indemnified Parties' Losses required to be
indemnified or paid by the Sellers with (i) respect to claims for
indemnification made under Section 9.3(i) (and under 9.3(v) relating thereto),
and (ii) with respect to claims for indemnification made under Section 9.3(ii)
(and under 9.3(v) relating thereto) for actions, failures or breaches on the
part of either Seller occurring with Buyer's knowledge prior to Closing, shall
not exceed the sum of Five Hundred Thousand Dollars ($500,000.00) (after which
point the Sellers shall have no liability or obligation to indemnify the Buyer
Indemnified Parties with respect to such claims for indemnification).

      9.7 Survival. Notwithstanding any other provision to the contrary in this
Agreement, this Article IX shall survive termination of this Agreement without
limitation.

      9.8 Determination of Loss and Amount. In view of the limitation set forth
in Section 9.6(c), for purposes of determining whether any Loss has occurred, or
the amount of

                                      -37-

<PAGE>

such Loss, the representations, warranties, covenants and agreements of the
parties set forth in this Agreement will be considered without regard to any
materiality qualification set forth therein.

                                    ARTICLE X
                               FURTHER AGREEMENTS

      10.1 Event of Loss. If prior to Closing the Station shall suffer an Event
of Loss , at Closing, Sellers shall assign to Buyer all its rights under any
insurance and all proceeds of insurance (excluding business interruption
proceeds for periods prior to the Closing Date) covering the property damage,
destruction or loss not repaired, replaced or restored prior to Closing.

      10.2 Station Employees. Buyer, or one of its affiliates, shall, within
five (5) business days following the grant of the FCC Consent in respect of the
Station's main broadcast license, employ and hire (to the extent employees
accept employment) all employees of Sellers as of the Adjustment Time and any
other replacements therefor in the ordinary course of business, other than (i)
Neil Evans and Charlotte Haywood (collectively, the "Retained Employees") and
(ii) Dave Tillary, upon terms and conditions of employment no less favorable
than those of their respective current employment with Sellers, or, if
applicable, pursuant to the terms and provisions of such employees' respective
employment agreements as listed in Schedule 1.2. All employees of Sellers who
work in the operation of the Station as of the Adjustment Time and any other
replacements therefor in the ordinary course of business other than the Retained
Employees and Dave Tillary shall be collectively referred to as "Eligible
Employees." Buyer understands, acknowledges and agrees that upon hire by Buyer,
the Eligible Employees shall no longer be entitled to participate in Sellers'
Station Employee Benefit Plans, and Buyer or its affiliates' shall cover those
Eligible Employees whom they hire under Buyer's (or an affiliate's) employee
benefit plans. Notwithstanding any provision to the contrary in this Agreement,
as of the date that Buyer hires or is required to hire Eligible Employees as
provided above, Buyer or its affiliates, as the case may be, shall assume all
obligations of Sellers under (i) any employment agreement described on Schedule
1.2 between Sellers and Eligible Employees, and (ii) all other obligations with
respect to Eligible Employees (other than those who refuse employment with
Buyer); including in each case severance obligations, to the extent set forth on
Schedule 4.19, but excluding all items described in clauses (A) through (G) of
the proviso to the definition of "Assumed Liabilities". All obligations to (x)
employees of Sellers who are not Eligible Employees and (y) Eligible Employees
whose employment is terminated by Sellers prior to the date that Buyer hires or
is required to hire Eligible Employees as provided above or who refuse to accept
employment with the Buyer, shall remain the responsibility of the Sellers. Any
notification required by any federal, state or local law governing mass layoffs
or terminations, including without limitation the federal Worker Adjustment and
Retraining Notification Act of 1988 (collectively, the "WARN Laws"), shall be
given by Buyer, and compliance with all the WARN Laws shall be Buyer's sole
responsibility and liability. Buyer shall indemnify, defend and hold the Sellers
Indemnified Parties harmless from and against all Losses arising out of (i) the
violation, or alleged violation, of any WARN Laws; (ii) the termination of
employment of any Eligible Employees, including, without limitation, any claims
for severance payments (to the extent set forth on Schedule 4.19) or accrued
vacation time; (iii) any claim by any Eligible Employee concerning the violation
or alleged violation of any federal, state or local laws; (iv)

                                      -38-

<PAGE>

any claim for breach of any employment contract between Sellers and any Eligible
Employee; and (v) any acts or omissions of Eligible Employees, including,
without limitation, any acts or omissions thereof that Sellers may be
vicariously liable for; (A) in the case of clauses (i), (ii), (iii) and (iv)
above, to the extent such losses or claims relate to actions or omissions of
Buyer or its affiliates after the Adjustment Time, and (B) in the case of clause
(v) above, to the extent such acts or omissions were directed by Buyer or its
affiliates; provided that in no event shall Buyer or its affiliates be
responsible for or indemnify Sellers Indemnified Parties for any items described
in clauses (A) through (G) of the proviso of the definition of "Assumed
Liabilities." Sellers agree that for a period commencing on and from the date
hereof and ending twelve (12) months following the Closing, neither Sellers nor
their Affiliates shall (i) hire any person employed at the Station at any time
from the date hereof through the Closing Date (excluding the Retained Employees)
or (ii) solicit or induce any person employed at the Station at any time from
the date hereof through the Closing Date to remain in or return to the employ of
Seller or any of its Affiliates or otherwise attempt to retain or obtain the
services of any such person (excluding the Retained Employees).

      10.3 Non-Competition. Sellers each separately and individually agree that
neither Sellers nor their Affiliates will, directly or indirectly, for a period
of three (3) years from and after the Closing Date own, manage, operate,
control, be employed by, participate in or be engaged in any manner with the
operation of a television broadcast station in the Joplin, Missouri Designated
Market Area. For purposes hereof, an "Affiliate" shall mean any person
controlling, controlled by or under common control with another Person, and
"control" shall mean the ownership (legal or beneficial) of over fifty percent
(50%) of the capital stock or common equity interests of the applicable Person.

                                   ARTICLE XI
                           TERMINATION; MISCELLANEOUS

      11.1 Termination. This Agreement may be terminated and the transactions
contemplated hereby may be abandoned at any time prior to the Closing Date, as
follows:

            (a) by mutual written agreement of Sellers and Buyer; or

            (b) subject to the last paragraph of Section 6.2, by Buyer if any of
the conditions set forth in Article VII of this Agreement shall not have been
fulfilled by the Closing Date (provided that the failure of any such condition
to be fulfilled is not a result of the Buyer's breach of this Agreement or the
TBA Agreement); or

            (c) by Sellers if any of the conditions set forth in Article VIII of
this Agreement shall not have been fulfilled by the Closing Date (provided that
the failure of any such condition to be fulfilled is not a result of either
Seller's breach of this Agreement or the TBA Agreement); or

            (d) by Buyer or Sellers if a Final Order (unless waived by Buyer)
shall not have been issued on or before September 30, 2002 (provided that such
failure is not the result of the terminating Party's breach of this Agreement or
the TBA Agreement); provided that Sellers shall, if the failure of a Final Order
to be issued prior to September 30, 2002 is not the result of

                                      -39-

<PAGE>

either Seller's breach of this Agreement or the TBA Agreement, have the right to
extend such date until December 1, 2002 pursuant to written notice of such
extension delivered to Buyer prior to September 30, 2002; or

            (e) by Buyer, if Buyer is not then in material breach of this
Agreement or the TBA Agreement and either Seller is then in material breach of
this Agreement or the TBA Agreement, and such breach remains uncured within
thirty (30) days after receipt of written notice thereof from Buyer; provided
that such 30-day period will be extended for a reasonable period of time if the
breaching party is acting in good faith to cure and such delay is not materially
adverse to the other party; or

            (f) by Sellers, if neither Seller is then in material breach of this
Agreement or the TBA Agreement and Buyer is then in material breach of this
Agreement or the TBA Agreement, and such breach remains uncured within thirty
(30) days after receipt of written notice thereof from Sellers; provided that
such 30-day period will be extended for a reasonable period of time if the
breaching party is acting in good faith to cure and such delay is not materially
adverse to the other party; or

            (g) by Buyer or Seller upon termination (other than in connection
with Closing) of the TBA Agreement in accordance with the terms thereof.

Notwithstanding anything herein or in the TBA Agreement, the Parties agree that
if on such date which is the earlier of (i) the 10th day following the date on
which the FCC has released public notice of its grant of assignment of the
Station's FCC Licenses to Buyer, and (ii) April 30, 2002, the parties have not
obtained the necessary consents from SpectraSite to consummate the transactions
contemplated hereby (including with respect to Buyer's non-assumption of the
obligations described in clause (H) to the definition of Assumed Liabilities)
(provided that Sellers and their Affiliates shall not be required to provide any
guaranty with respect to or in connection with the obtaining of such consents,
as contemplated by Section 7.6(a)(ii) of the Master Site Lease Agreement which
is part of the SpectraSite Agreements or otherwise), this Agreement may be
terminated by Buyer or Sellers at any time following such date until such
consents from SpectraSite are obtained (provided that the failure to obtain such
consents is not the result of the terminating Party's breach of this Agreement
or the TBA Agreement), and such termination shall be treated as a termination
pursuant to Section 11.1(d) for the purposes of Section 11.2 hereof.

      11.2 Rights on Termination; Waiver.

            (a) If this Agreement is terminated pursuant to Section 11.1(a), or
11.1(b) (and neither Seller is in material default of this Agreement) or 11.1(c)
(and Buyer is not in material default of this Agreement), 11.1(d), or 11.1(g)
(and neither Party is in material default under the TBA Agreement), all further
obligations of the parties under or pursuant to this Agreement shall immediately
terminate without further liability of any party to the other and the initial
payment of $6,000,000.00 (together with interest thereon at a rate of 9% per
annum) made pursuant to Section 2.2 hereof shall be returned promptly to Buyer
(provided that any payment pursuant to the terms of Section 2.9 shall remain
payable and shall be paid pursuant to the terms thereof).

                                      -40-

<PAGE>

            (b) If this Agreement is terminated (or terminable in the case of
clause (i) below) by Buyer pursuant to Section 11.1(b) (and either Seller is in
material default of this Agreement), pursuant to Section 11.1(e), or pursuant to
Section 11.1(g) (and Sellers are in material default under the TBA Agreement),
then Buyer shall be entitled to (i) pursue the legal remedy of specific
performance (in lieu of terminating this Agreement), or (ii) (A) be repaid by
Sellers the initial payment of $6,000,000.00 made pursuant to Section 2.2 hereof
(together with interest thereon at a rate of 9% per annum), and (B) claim and be
paid an amount equal to its direct and actual damages (provided that any payment
pursuant to the terms of Section 2.9 shall remain payable and shall be paid
pursuant to the terms thereof).

            (c) If this Agreement is terminated by Seller pursuant to Section
11.1(c) (and Buyer is in material default of this Agreement), pursuant to
Section 11.1(f), or pursuant to Section 11.1(g) (and Buyer is in material
default under the TBA Agreement), then Sellers shall be entitled to keep as its
sole liquidated damages hereunder and under the TBA Agreement, the sum of
$6,000,000.00 paid pursuant to Section 2.2 (provided that any payment pursuant
to the terms of Section 2.9 shall remain payable and shall be paid pursuant to
the terms thereof).

            (d) The parties agree that the liquidated damages provided in
Sections (b) and (c) above are intended to limit the claims that a
non-defaulting party hereto may have against a defaulting party hereto in the
circumstances described therein. The parties acknowledge and agree that the
liquidated damages provided in such Sections bear a reasonable relationship to
the anticipated harm, which would be caused by a breach of this Agreement and
the TBA Agreement. The parties further acknowledge and agree that the amount of
actual loss caused by a breach of this Agreement is incapable and difficult of
precise estimation and that there would not be a convenient and adequate
alternative to liquidated damages hereunder.

      11.3 Further Assurances. From time to time after the Closing Date, upon
the reasonable request of Buyer, Sellers shall execute and deliver or cause to
be executed and delivered such further instruments of conveyance, assignment and
transfer and take such further action as Buyer may reasonably request in order
more effectively to sell, assign, convey, transfer, reduce to possession and
record title to Buyer to any of the Purchased Assets. Sellers agree to cooperate
with Buyer in all reasonable respects to assure to Buyer the continued title to
and possession of the Purchased Assets in the condition and manner contemplated
by this Agreement; provided, however, Sellers shall not be required to spend
additional sums of money other than incidental expenses.

      11.4 Survival. The obligations to indemnify contained in Article IX
hereof, the agreements contained herein and, as limited by Article IX hereof,
the representations and warranties made in this Agreement or made pursuant
hereto shall survive the Closing and the consummation of the transactions
contemplated by this Agreement, and any dissolution, merger or consolidation of
Buyer or Sellers and shall bind the legal representatives, assigns and
successors of Buyer and Sellers.

      11.5 Entire Agreement; Amendment; Waivers. This Agreement, the TBA
Agreement and the documents required to be delivered pursuant hereto constitute
the entire agreement between the parties pertaining to the subject matter
hereof, and supersede all prior and contemporaneous agreements, understandings,
negotiations and discussions of the parties,

                                      -41-

<PAGE>

whether oral or written, and there are no warranties, representations or other
agreements between the parties in connection with the subject matter hereof,
except as specifically set forth herein. No amendment, supplement, modification,
waiver or termination of this Agreement shall be binding unless executed in
writing by the party to be bound thereby. No waiver of any of the provisions of
this Agreement shall be deemed or shall constitute a waiver of any other
provision of this Agreement, whether or not similar, unless otherwise expressly
provided.

      11.6 Expenses. Except as otherwise specifically provided herein, whether
or not the transactions contemplated by this Agreement are consummated, each of
the parties shall pay the fees and expenses of its respective counsel,
accountants and other experts incident to the negotiation, drafting and
execution of this Agreement, the TBA Agreement and consummation of the
transactions contemplated hereby.

      11.7 Benefit; Assignment. This Agreement shall be binding upon and inure
to the benefit of and shall be enforceable by Buyer and Sellers and their
respective proper successors and permitted assigns. This Agreement (and any
rights, obligations or liabilities hereunder) may not be assigned or delegated
in whole or in part by any party without the prior written consent of the other
party; provided, however, that Buyer may, without such consent, assign its
rights hereunder to (i) its lenders and (ii) after the Closing, to any other
Person; provided further that Sellers may, without such consent, assign their
rights hereunder to their lenders.

      11.8 Confidentiality.

            (a) Buyer agrees that prior to Closing, Buyer and its Affiliates,
respective agents and representatives shall only use for its or their own
benefit (except when required by law, rule or regulation and except for use in
connection with Buyer's financing of the transaction and Buyer's investigation
of the Station and its assets in connection with this Agreement), and shall hold
in strict confidence and not disclose (unless required under applicable laws or
pursuant to a duly issued subpoena), (i) any data or information relating to
Sellers, their Affiliates, or the Station obtained from Sellers or any of its
directors, officers, employees, agents or representatives in connection with
this Agreement, or (ii) any data and information relating to the business,
customers, financial statements, conditions or operations of the Station which
is confidential in nature and not generally known to the public (clauses (i) and
(ii) together, "Sellers' Information"). If the transactions contemplated in this
Agreement are not consummated for any reason, Buyer shall return to Sellers all
data, information and any other written material obtained by Buyer from Sellers
in connection with this transaction and any copies, summaries or extracts
thereof, and shall refrain from disclosing any of Sellers' Information to any
third party or using any of Sellers' Information for its own benefit or that of
any other person, other than in connection with the filing of tax returns
applicable to the Purchased Assets.

            (b) Sellers agree that Sellers and their Affiliates, agents and
representatives shall only use for its or their own benefit (except when
required by law, rule or regulation and except for use in connection with their
investigations and review of Buyer in connection with this Agreement), and shall
hold in strict confidence and not disclose (unless required under applicable
laws or pursuant to a duly issued subpoena or in connection with obtaining any
required third party consents or approvals or filing any tax returns), (i) any
data or information, relating to Buyer or its Affiliates obtained from Buyer, or
from any of its directors, officers,

                                      -42-

<PAGE>

employees, agents or representatives, in connection with this Agreement, or (ii)
any data and information relating to the business, customers, financial
statements, conditions or operations of the Station or the Buyer (including,
without limitation, of the Station's operations under the TBA Agreement) which
is confidential in nature and not generally known to the public (clauses (i) and
(ii) together "Buyer's Information"). If the transactions contemplated in this
Agreement are not consummated for any reason, Sellers shall return to Buyer all
data, information and any other written material obtained by Sellers from Buyer
in connection with this transaction and any copies, summaries or extracts,
thereof and shall refrain from disclosing any of Buyer's Information to any
third party or using any of Buyer's Information for its own benefit or that of
any other person other than in connection with the filing of tax returns.

            (c) Notwithstanding any other provision to the contrary herein, the
provisions of this Section 11.9 shall survive the termination of this Agreement.

      11.9 Notices. All communications or notices required or permitted by this
Agreement shall be in writing and shall be deemed to have been given (i) on the
date of personal delivery to an officer of the other party, or (ii) if sent by
telecopy or facsimile machine to the number shown below, on the date of such
confirmed facsimile or telecopy transmission, or (iii) when properly deposited
for delivery by commercial overnight delivery service, prepaid, or by deposit in
the United States mail, certified or registered mail, postage prepaid, return
receipt requested, on the date that is two days after the date set forth in the
records of such delivery service or on the return receipt and addressed as
follows, unless and until either of such parties notifies the other in
accordance with this Section of a change of address or change of telecopy
number:

             If to Buyer:     Mission Broadcasting of Joplin, Inc.
                              544 Red Rock Drive
                              Wadsworth, Ohio 44281
                              Attention: David Smith
                              Telecopy No.: (330) 336-8454

             With a copy to (which shall not constitute notice to Buyer):

                              Arter & Hadden
                              1801 K Street, N.W.
                              Washington, D.C. 20006-1301
                              Attention: Howard M. Liberman
                              Telecopy No.: (202) 857-0172

                              Kirkland & Ellis
                              Citigroup Center
                              153 East 53rd Street
                              New York, NY 10022
                              Attention: John Kuehn
                              Telecopy No.: (212) 446-4900

                                      -43-

<PAGE>

             If to Sellers:   c/o GoCom Holdings, LLC
                              7621 Little Avenue, Suite 506
                              Charlotte, NC 28226
                              Attention: Ric Gorman
                              Telecopy No.: (704) 341-0945

             With a copy to (which shall not constitute notice to Sellers):

                              Wyrick Robbins Yates & Ponton LLP
                              4101 Lake Boone Trail
                              Suite 300
                              Raleigh, NC 27607
                              Attention: Stephen Brissette
                              Telecopy No.: (919) 781-4865

             And to:
                              Cohn and Marks
                              1920 N Street, Suite 300
                              Washington, D.C. 20036-1622
                              Attention: Joel Levy, Esq.
                              Telecopy No.: (202) 293-4827

      11.10 Counterparts; Headings. This Agreement may be executed in several
counterparts, each of which shall be deemed an original, but such counterparts
shall together constitute but one and the same Agreement. This Agreement may be
executed and delivered in counterpart signature pages executed and delivered via
facsimile transmission, and any such counterpart executed and delivered via
facsimile transmission shall be deemed an original for all intents and purposes.
The Table of Contents and Article and Section headings in this Agreement are
inserted for convenience of reference only and shall not constitute a part
hereof.

      11.11 Income Tax Position. Neither Buyer nor Sellers shall take a position
for income tax purposes which is inconsistent with this Agreement; provided,
however that nothing contained herein shall require Buyer or Sellers to contest
or litigate in any forum any proposed deficiency or adjustment by any taxing
authority or agency that may challenge the manner in which the transactions
under this Agreement are treated.

      11.12 Severability. If any provision, clause or part of this Agreement or
the application thereof under certain circumstances is held invalid, or
unenforceable, the remainder of this Agreement, or the application of such
provision, clause or part under other circumstances, shall not be affected
thereby.

      11.13 No Reliance. Except for (i) successors and any assignees permitted
by Section 11.8 of this Agreement and (ii) lenders (and their successors and
assigns) providing financing for the consummation of the transactions
contemplated by this Agreement:

            (a) no third party is entitled to rely on any of the
representations, warranties or agreements of Buyer or Sellers contained in this
Agreement; and

                                      -44-

<PAGE>

            (b) Buyer and Sellers assume no liability to any third party because
of any reliance on the representations, warranties or agreements of Buyer and
Sellers contained in this Agreement.

      11.14 Judicial Interpretation. Should any provision of this Agreement
require judicial interpretation, the parties hereto agree that the court
interpreting or construing the same shall not apply a presumption that the terms
hereof shall be more strictly construed against one party by reason of the rule
of construction that a document is to be construed more strictly against the
party which itself or through its agent prepared the same, it being agreed that
the agents of each party have participated in the preparation hereof.

      11.15 Saturdays, Sundays and Legal Holidays. If the time period by which
any acts or payments required hereunder must be performed or paid expires on a
Saturday, Sunday or legal holiday, then such time period shall be automatically
extended to the close of business on the next regularly scheduled business day.

      11.16 Governing Law. This Agreement shall be construed and interpreted
according to the laws of the State of Delaware, without regard to the conflict
of law principles thereof.

                                      -45-

<PAGE>

      IN WITNESS WHEREOF, the parties have executed this Agreement as of the day
and year first above written.

                                    "BUYER"

                                    MISSION BROADCASTING OF JOPLIN, INC.

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

                                    "SELLERS"

                                    GOCOM BROADCASTING OF JOPLIN, LLC
                                    GOCOM OF JOPLIN LICENSE SUB, LLC

                                    By:   /s/ Richard L. Gorman
                                          ------------------------------
                                          Name:  Richard L. Gorman
                                          Title: President

The undersigned joins in the execution of this Agreement for the purpose of
jointly, severally and directly guaranteeing to Buyer the full and prompt
payment and performance of all of the indemnity obligations of Sellers under and
with respect to this Agreement and the TBA Agreement.

                                    GOCOM BROADCASTING OF HUNTSVILLE, LLC

                                    By:   /s/ Richard L. Gorman
                                          ------------------------------
                                          Name:  Richard L. Gorman
                                          Title: President<PAGE>

                                                                   EXHIBIT 10.25

                                                                  Execution Copy

                           TIME BROKERAGE AGREEMENT

                                By and Between

                      GOCOM BROADCASTING OF JOPLIN, LLC,

                       GOCOM OF JOPLIN LICENSE SUB, LLC

                                     and

                     MISSION BROADCASTING OF JOPLIN, INC.

                              December 31, 2001

<PAGE>

                              TABLE OF CONTENTS

1.    Overall Purpose and Term...............................................2

2.    Station's Facilities...................................................2

3.    Revenue................................................................3

4.    Compensation...........................................................3

5.    Responsibilities.......................................................4
      (a)   Broker's Responsibilities........................................4
      (b)   Owners' Responsibilities.........................................5
      (c)   Additional Responsibilities......................................6
      (d)   Renewal, Modification and Cancellation of Contracts..............6

6.    Revenues and Deposits..................................................6
      (a)   Receipts from Broadcast Time Sales and Uses of Station's Studio/
            Production Facilities............................................6
      (b)   Revenues; Bank Accounts..........................................6

7.    Owners' Compliance With FCC Rules and Policies.........................7

8.    Programming and the Public Interest....................................7

9.    Special Programs.......................................................8

10.   Station Identification.................................................8

11.   Station Facilities.....................................................9
      (a)   Operation of Station.............................................9
      (b)   Interruption of Normal Operations................................9
      (c)   Studio Location..................................................9

12.   Political Advertising..................................................9

13.   Children's Programming.................................................9

14.   Handling of Communications............................................10

15.   Force Majeure.........................................................10

16.   Trade Secrets and Proprietary Information.............................11

17.   Payola and Conflicts of Interest......................................11

<PAGE>

18.   Broker's Compliance with Law..........................................12

19.   Indemnification; Broker's Action......................................12
      (a)   Broker's Indemnification of the Owners..........................12
      (b)   The Owners' Indemnification of Broker...........................12
      (c)   Broker's Activities.............................................13
      (d)   Indemnification Procedures......................................13
      (e)   Insurance.......................................................13

20.   Events of Default.....................................................13
      (a)   Insolvency......................................................13
      (b)   Breach or Default in Representations and Covenants..............14
      (c)   Non-Payment.....................................................14
      (a)   Termination Upon Event of Default...............................14
      (b)   Termination Upon Order of Governmental Authority................14
      (c)   Termination Upon Sale of Station................................15

22.   Effect of Termination Other Than at Closing...........................15
      (a)   Reimbursement of Capital Expenditures...........................15
      (b)   Collection of Post-Commencement, Pre-Termination Receivables
            and Payment of Post-Commencement, Pre-Termination Payables......15
      (c)   Billing and Performance by Owners...............................16
      (d)   Collection and Application by Owners............................16
      (e)   Non-Interference................................................16
      (f)   Payment of Pre-Termination Payables.............................17
      (g)   Adjustment Amount...............................................17
      (h)   Reports:  Adjustment Procedures.................................18
      (i)   Proration.......................................................19
      (j)   Condition of Property...........................................19

23.   Advanced Television/High Definition Television........................19

24.   Billing; Records......................................................19

25.   Notices...............................................................20

26.   Modification and Waiver...............................................21

27.   Construction..........................................................21

28.   Headings..............................................................21

29.   Assignment; Change of Control.........................................21

30.   Counterparts..........................................................21

<PAGE>

31.   Entire Agreement......................................................22

32.   No Partnership or Joint Venture Created...............................22

33.   Severability..........................................................22

34.   Legal Effect..........................................................22

35.   No Party Deemed Drafter...............................................22

36.   Further Assurances....................................................22

EXHIBIT A -- Payment of Time Brokerage Fee

EXHIBIT B --  Programming Standards

EXHIBIT C --  ANTI-PAYOLA/PLUGOLA AFFIDAVIT

<PAGE>

                           TIME BROKERAGE AGREEMENT

            This TIME BROKERAGE AGREEMENT (this "Agreement") is entered into
this 31st day of December, 2001, by and between GOCOM Broadcasting of Joplin,
LLC, a Delaware limited liability company ("Operating Company"), GOCOM of Joplin
License Sub, LLC, a Delaware limited liability company ("License Company") (each
an "Owner" and collectively the "Owners") and Mission Broadcasting of Joplin,
Inc., a Delaware corporation ("Broker"). Capitalized terms used but not
otherwise defined shall have the meaning set forth in the Purchase Agreement
(defined below).

            WHEREAS, the Owners are the owners and operators of television
broadcast station KODE-TV, Joplin, Missouri, and assets relating thereto (the
"Station"), pursuant to authorization(s) issued by the Federal Communications
Commission ("FCC") to License Company;

            WHEREAS, the parties hereto have carefully considered the
Communications Act of 1934, as amended (the "Communications Act"), and the FCC's
rules and policies adopted pursuant thereto, and intend that this Agreement in
all respects comply with said Communications Act and FCC rules and policies;

            WHEREAS, the Owners desire to enter into this Agreement to provide a
regular source of diverse programming and income to sustain the operations of
the Station;

            WHEREAS, Broker desires to provide an over-the-air program service
to the Joplin, Missouri area using the facilities of the Station and personnel
employed by Broker;

            WHEREAS, the Owners agree to provide time on the Station exclusively
to Broker on terms and conditions that conform to policies of the Owners and the
FCC for time brokerage arrangements and that are as set forth herein;

            WHEREAS, Broker agrees to provide broadcast programming of Broker's
selection that conforms with the policies of the Owners and with all rules,
regulations and policies of the FCC, and as set forth herein;

            WHEREAS, the Owners maintain, and shall continue to maintain during
the term of this Agreement, ultimate control over the Station's facilities
including control over the Station's finances and programming and the Owners'
personnel; and

            WHEREAS, the parties hereto have entered into a Purchase and Sale
Agreement dated as of the date of this Agreement (the "Purchase Agreement"),
pursuant to which, subject to FCC approval, Broker is purchasing substantially
all of the assets of the Station;

            NOW, THEREFORE, in consideration of the foregoing and of the mutual
promises set forth herein, and for other good and valuable consideration, the
receipt and sufficiency of which the Owners and Broker hereby acknowledge, the
Owners and Broker, intending to be bound legally, hereby agree as follows:

<PAGE>

      1.     Overall Purpose and Term. In accordance with the terms and subject
to the limitations set forth herein: (a) Broker shall provide certain
programming to the Owners for the Station, promote the Station and its
programming, sell commercial and other time on the Station and bill for and
collect the payments for time sales on the Station; and (b) subject to direction
and control by management personnel of the Owners, Broker will maintain the
Station's transmitting and microwave relay facilities, and the Owners shall make
such facilities available to Broker for purposes of its activities contemplated
by this Agreement. Subject to the terms of this Agreement, each party hereby
warrants and covenants that it will fulfill said obligations, and their other
obligations specified herein, to the fullest extent permitted by law (including
the FCC's rules and policies) in a diligent, reasonable manner.

            Broker shall begin its time brokerage activities with regard to the
Station pursuant to this Agreement at 12:01 AM, Joplin, Missouri time, on the
date hereof, and said date shall be referred to herein as the "Commencement
Date" and such time shall be referred to as the "Commencement Time." Unless
otherwise terminated pursuant to the terms hereof, the term of this Agreement
shall be the period from the Commencement Date until the earlier of the Closing
or the termination of the Purchase Agreement in accordance with its terms (the
"Term").

      2.      Station's Facilities. During the Term, the Owners shall make the
Station's television broadcasting transmission facilities available to Broker
for broadcast on the Station of programs required to be broadcast under the
Contracts (subject to the terms and conditions of this Agreement, including,
without limitation, the second paragraph of this Section 2), programs selected
by Broker in accordance with the terms and conditions hereof and
advertising/commercial announcements sold by Broker, which may originate from
the Station's studios or from other sources contracted for by Broker. In
addition, the Owners will make available to Broker, at no additional cost,
during the Term, exclusive use (other than the Owners' own use for the Station
consistent with this Agreement) of all of the Owners' studio and production
facilities for Broker's use in its activities with regard to the Station
pursuant to this Agreement. The Owners shall have the right to use such
facilities as they deem appropriate in their sole discretion in connection with
(i) the satisfaction of License Company's obligations as the FCC licensee of the
Station (including the use of such facilities and adequate office space for the
employees of the Owners that are required for the Owners to comply with their
obligations under Section 5(b)(i)), (ii) the satisfaction of the Owners'
obligations under the Affiliation Agreement (as defined in the Purchase
Agreement), and (iii) the satisfaction of Owners' obligations under this
Agreement, including the provision of Leased Employees (as defined below) as set
forth in Section 5(b)(ii). Broker shall use due care in the use of any assets,
property or facilities of the Owners, shall not commit waste or cause any damage
with respect thereto or permit any other person or entity to commit waste or
damage with respect thereto, and shall not remove, and shall not permit any
other person or entity to remove, any of the Owners' assets, properties or
facilities from the current locations thereof.

            Subject to the terms of this Agreement, and to applicable rules and
policies of the FCC, Owners hereby sell and Broker hereby purchases up to one
hundred and sixty eight (168) hours per week of programming or broadcast time on
the Station commencing on the Commencement Date. The Owners shall broadcast the
programming, including commercial

                                       2

<PAGE>

announcements, supplied, selected or procured by Broker without interruption,
deletion, or addition of any kind, subject to the terms of this Agreement and
Owners' obligations under the Communications Act and the FCC's rules and
policies adopted pursuant thereto. All such programming supplied, selected or
procured by Broker, including commercial announcements and programming which is
the subject of the Contracts (other than the Affiliation Agreement), is
sometimes referred to herein as the "Broker's Programming." Anything to the
contrary in this Agreement notwithstanding, (i) Broker's Programming shall not
include any programming provided to the Station by ABC under the Affiliation
Agreement, and (ii) this Agreement and the transactions contemplated hereunder
shall not effect an assignment of the rights or privileges of the Owners under
the Affiliation Agreement, all of which remain with and inure to the benefit of
the Owners (including all network compensation payments made by ABC pursuant
thereto).

            Notwithstanding the foregoing paragraph, Owners shall produce or
present up to two (2) hours per week of public affairs programming ("Owners'
Public Affairs Programming") to be aired on the Station according to a schedule
to be mutually established. Owners' Public Affairs Programming may be produced,
presented or broadcast jointly by Owners and Broker. Owners' Public Affairs
Programming shall respond to the issues, needs and interests of the Joplin,
Missouri area, which Owners have ascertained.

            Notwithstanding anything herein to the contrary, until such time as
the FCC has released public notice of its grant of assignment of the Station's
FCC licenses to Broker under the Purchase Agreement and the parties have
obtained the consents from SpectraSite as contemplated by the last paragraph of
Section 11.1 of the Purchase Agreement, Broker shall not combine or consolidate
any of the Station's operations or activities (including, without limitation,
sales or programming efforts or activities) with any person or entity (including
any other television station), except with the prior written consent of the
Owners.

      3.      Revenue. Broker shall be entitled to all revenues resulting from
the sale of advertising and other time on the Station during the Term,
including, without limitation, all revenue from the sale of advertising and
other time during the Owners' Public Affairs Programming or other programming
provided by the Owners pursuant to Sections 8(b) or 9 hereof (collectively,
"Owners' Programming"), or otherwise resulting from the operation of the Station
during the Term other than in connection with the Affiliation Agreement. All
accounts receivable of the Owners as of Commencement Time and all proceeds and
collections thereof shall be collected and accounted for as provided in Sections
2.9 and 11.2 of the Purchase Agreement.

      4.      Compensation. As consideration for the Owners permitting Broker to
broadcast Broker's Programming on the Station pursuant to the terms of this
Agreement and receiving the revenues generated therefrom as provided in this
Agreement, Broker shall pay to the Owners the amounts described on Exhibit A
attached hereto (collectively, the "Time Brokerage Fees").

                                       3

<PAGE>

      5.      Responsibilities.

              (a) Broker's Responsibilities.

                  (i)   Broker shall employ and be responsible for paying the
                        salaries, commissions, payroll taxes, insurance and all
                        other related costs for employees of Broker engaged in
                        Broker's time brokerage activities hereunder, including,
                        without limitation, the employees of the Station hired
                        from Owners under Section 10.2 of the Purchase
                        Agreement.

                  (ii)  Broker shall acquire, compile, develop, produce,
                        provide, broadcast and sell, and deliver to the Station,
                        the Broker's Programming and commercial messages and
                        shall be responsible for and shall pay any and all
                        expenses incurred in connection therewith, including,
                        without limitation, (i) all ASCAP, BMI, SESAC and other
                        copyright fees associated with the delivery of such
                        programming, (ii) all expenses incurred in connection
                        with the sale of advertising time (including, without
                        limitation, sales commissions) on the Station, and (iii)
                        the salaries, taxes, insurance and related costs and
                        expenses for all personnel (other than Owners'
                        personnel) used in production of programming and all
                        sales personnel (including, without limitation,
                        salespeople, account executives, traffic personnel and
                        programming staff). The Owners shall not incur any
                        liability on account of Broker's employees.

                  (iii) Subject to the last sentence of Section 19(a) and the
                        terms and conditions of this Agreement (including,
                        without limitation, the second paragraph of Section 2),
                        in performing its obligations hereunder, Broker shall
                        use commercially reasonable efforts to, or to cause the
                        Owners and the Station to, adhere to and fulfill all of
                        the terms, conditions and obligations under all
                        Contracts and Leases. Subject to the last sentence of
                        Section 19(a) and the terms and conditions of this
                        Agreement (including, without limitation, the second
                        paragraph of Section 2), and without limiting the
                        generality of the foregoing sentence, Broker (i) agrees
                        to utilize the films and programs subject to the
                        Contracts in compliance with the terms, conditions and
                        obligations of such Contracts, and (ii) shall use
                        commercially reasonable efforts to not cause a breach of
                        the Affiliation Agreement by Owners or the Station.
                        Broker shall enter into all new programming agreements
                        and arrangements in its own name and not in the name of
                        the Owners or the Station.

                                       4

<PAGE>

              (b) Owners' Responsibilities. Without limiting Broker's obligation
to pay the Time Brokerage Fees:

                  (i)   The Owners shall employ and be responsible for paying
                        the salaries, commissions, payroll taxes, insurance and
                        all other related costs of their employees necessary to
                        fulfill License Company's obligations as licensee of the
                        Station under the Communications Act, including a
                        general or station manager for the Station and such
                        other personnel (not less than one) as the Owners
                        determine may be necessary to fulfill such obligations.

                  (ii)  In addition to the Owners' employment of certain
                        employees as provided in Section 5(b)(i) above, from and
                        after the Commencement Date through the earlier of such
                        time as Broker employs and hires or is required to
                        employ and hire Eligible Employees (as defined in
                        Section 10.2 of the Purchase Agreement) pursuant to the
                        terms and provisions of Section 10.2 of the Purchase
                        Agreement (the "Leased Employee Period"), the Owners
                        will use commercially reasonable efforts to make
                        available to Broker all Eligible Employees (each of whom
                        shall be a "Leased Employee" and collectively the
                        "Leased Employees") until the earlier of (x) the date
                        such Leased Employee's employment with the Licensee
                        terminates, whether because of the hiring and employment
                        of Leased Employees as provided in Section 10.2 of the
                        Purchase Agreement or otherwise, or (y) the termination
                        of this Agreement as provided in Section 21 below.
                        Notwithstanding the employer/employee relationship that
                        exists between the Leased Employees and the Owners,
                        Broker will, subject to applicable FCC rules,
                        regulations and policies, have the authority to
                        supervise, direct and control the Leased Employees to
                        the extent necessary for Broker to fulfill its rights
                        and obligations under this Agreement; provided, however,
                        that the Owners shall have sole discretion to make and
                        effectuate all staffing and personnel decisions
                        involving employees or independent contractors employed
                        or retained by the Owners in connection with the
                        operation of the Station, and Broker shall have no
                        control or right of review whatsoever over any decision
                        by the Owners to hire or to dismiss or terminate any
                        Leased Employee. During the Leased Employee Period, each
                        Leased Employee shall receive substantially the same
                        benefits and other consideration from the Owners to
                        which such employee was entitled to from the Owners
                        prior to the Leased Employee Period (provided that if
                        the Owners and their affiliates make changes to the
                        benefits offered to all of their employees, such changes
                        shall apply to the Leased Employees as well.

                                       5

<PAGE>

                  (iii) The Owners shall be responsible for the payment of all
                        expenses of operating and maintaining the Station during
                        the Term and as necessary for the Owners to maintain
                        licensed transmitting capability of the Station and to
                        fulfill License Company's obligations as an FCC
                        licensee.

              (c) Additional Responsibilities.

                  (i)   Each of the Owners and Broker shall be fully responsible
                        for the supervision and direction of their respective
                        employees.

                  (ii)  Broker and the Owners shall pay their respective
                        expenses with regard to the Station and in no event will
                        any such payable remain unpaid for more than thirty (30)
                        days after it is due unless such payable is being
                        disputed in good faith.

              (d) Renewal, Modification and Cancellation of Contracts. The
Owners will comply with all reasonable requests of Broker with respect to the
renewal and cancellation of Contracts (in accordance with their terms) other
than the Affiliation Agreement, or the entry into or the modification of such
Contracts, which affect Broker's time brokerage activities with regard to the
Station pursuant to this Agreement. Notwithstanding anything herein to the
contrary, with respect to the Affiliation Agreement, the Owners and the Broker
agree that if at any time during the Term the Affiliation Agreement terminates,
the Owners and the Broker shall use their reasonable good faith best efforts to
cooperate with each other in the procurement of, negotiation of, and the
agreement on, a new network affiliation agreement with respect to the Station.

      6.      Revenues and Deposits.

                 (a) Receipts from Broadcast Time Sales and Uses of Station's
Studio/ Production Facilities. During the Term of the Agreement, Broker shall
have the exclusive right to sell, either directly or indirectly through sales
representatives, all programs and commercials aired on the Station (whether
during programming selected by Broker or programming selected by the Owners),
and production fees for uses of the Station's studio/production facilities,
whether aired or earned before or during the Term. Broker may contract and bill
in its own name for the sale of broadcast time on the Station and uses of the
Station's studio/production facilities.

                 (b) Revenues; Bank Accounts. Broker may deposit any revenues it
receives pursuant to Section 6(a) above or otherwise with respect to the Station
into a bank account (or accounts) of Broker established by Broker, in Broker's
name, for this purpose (the "Broker's Bank Account(s)"), and the funds in such
Broker's Bank Account(s) shall be the property of Broker. Broker shall be
authorized to endorse payments received in names other than Broker's (e.g.,
"KODE," or "KODE-TV") in order to deposit such payments into the Broker's Bank
Account(s).

                                       6

<PAGE>

      7. Owners' Compliance With FCC Rules and Policies. The Owners shall comply
in all material respects with all FCC rules and policies applicable to the
Station. In this regard, without limiting the foregoing sentence, the Owners
shall be responsible for ascertaining the needs and interests of KODE's service
area, maintaining its political broadcasting and public inspection files and
maintenance logs, setting political advertising policies (subject to Section 12
below), preparing the quarterly issues/programs lists and children's programming
reports and making all required FCC filings with regard to the Station.

      8. Programming and the Public Interest.

            (a) Broker acknowledges and agrees that Broker shall enter into all
new permitted programming agreements and arrangements in its own name and not in
the name of the Owners or the Station. Throughout the Term, unless otherwise
agreed to by the parties hereto in writing, Broker shall, subject to the
Contracts and the other terms and conditions of this Agreement, program the
Station so as to maintain a general, advertiser-supported, national
network-affiliated, entertainment/sports format, with some mix permitted of home
shopping, religious, foreign language and infomercial programming. The Station
shall not become predominantly a home shopping, religious, foreign language
and/or infomercial television station. The programming selected by Broker or at
its discretion shall consist of such materials as are determined by Broker to be
appropriate and/or in the public interest including, without limitation, public
affairs programming, public service announcements, entertainment, news, weather
reports, sports, promotional material, commercial material and advertising.

            (b) Following the Commencement Date, Broker's management personnel
as designated by Broker will meet at least weekly with Owners' Station Manager
in order to help formalize the Owners' oversight over Broker's activities at the
Station. At such meetings, the Owners will, among other things, (i) provide
Broker with the results of Owners' ongoing efforts to ascertain the problems,
needs and interests of KODE's service area, so that the programming and public
service announcements selected and/or scheduled by Broker for the Station will
be responsive thereto, (ii) inform Broker of all views, comments, suggestions
and complaints concerning Broker's Programming actually received by the Owners,
(iii) provide suggestions for future public service programs and public service
announcement campaigns, and (iv) review Broker's Programming for children. In
the event the Owners determine that additional attention should be directed to
particular community needs, Broker will cooperate to assure that the Station's
locally-produced programming serves those needs. If the Owners acquire
syndicated programming in addition to Owners' Public Affairs Programming, then
all expenses for such additional programming will be paid by the Owners and will
not be included in the reimbursements due the Owners under this Agreement (as
part of the Time Brokerage Fees). Such programs will be aired on the Station at
a mutually agreeable time between 6:00 AM and 12:00 midnight Central time.
Broker shall be entitled to any and all revenues received from time sales of or
during any such programs to the extent such revenues exceed Owners' reasonable
out-of-pocket costs of obtaining such additional syndicated programming.

            (c) Broker shall provide the Owners promptly with all documents
Broker receives which are required to be placed in KODE's political or public
inspection files. Broker shall, upon

                                       7

<PAGE>

reasonable request by Owners, provide Owners with information with respect to
programs and public service announcements broadcast on the Station which are
responsive to the problems, needs and issues facing the residents of the
Station's service area and Broker's Programming for children, so as to assist
the Owners in the preparation of required programming reports, and will assist
Owners upon request in compiling such other information which is reasonably
necessary to enable Owners to prepare other records and reports required by the
FCC or other government agencies.

            (d) Anything in this Agreement to the contrary notwithstanding, the
Owners shall have the full and unrestricted right to reject, delete and not
broadcast any material contained in any part of Broker's Programming which the
Owners in good faith determine would be contrary to law (including, without
limitation, the rules, regulations and policies of the FCC) or the public
interest. The Owners shall retain ultimate control over the Station's policies
and standards, and, in that regard, shall adopt written standards, generally in
accordance with industry standards for commercial television broadcast stations,
in substantially the same form and substance as Exhibit B attached hereto, for
the acceptance of programming material and commercial announcements. Broker
hereby covenants, warrants and represents that with regard to the Station it
will, at all times during the Term, comply in all material respects with such
standards for acceptance of Broker's Programming, and, further, all Broker's
Programming shall be in accordance with all applicable law, including, without
limitation, the rules, regulations and policies of the FCC.

      9. Special Programs. Anything in this Agreement to the contrary
notwithstanding, the Owners reserve the right, in good faith, to preempt
Broker's programs for the Station to broadcast special programs on occasion
concerning issues or events of local, regional or national importance in the
event that Broker does not broadcast the same on its own initiative or in the
event that the Owners reasonably determine in good faith that the amount of
Broker's coverage of such issues or events on the Station is inadequate;
provided however, that in all such cases, the Owners will use their commercially
reasonable efforts to give Broker reasonable notice of their intention to
preempt programs scheduled by Broker.

      10. Station Identification. The Owners will be responsible for the proper
broadcast of FCC-required station identification announcements on the Station;
provided, however, that Broker, while conducting its activities with regard to
the Station pursuant to this Agreement, shall broadcast all required station
identification announcements in form and content approved by the Owners with
respect to the Station in full compliance with FCC rules, regulations and
policies.

      11. Station Facilities.

            (a) Operation of Station. Subject to Section 1(b), during the Term,
the Owners shall maintain the Station at least at ninety percent (90%) of the
Station's currently authorized effective radiated power, for the entire time
that the Station is on the air, except for downtime occasioned by required
maintenance and other interruptions contemplated by Section 11(b) below and
events described in Section 15 of this Agreement. Any routine or non-emergency
maintenance work affecting operation of the Station at full power shall be
scheduled with at least forty-eight (48) hours prior notice to Broker, and, to
the extent possible, shall not take place during a rating period;

                                       8

<PAGE>

and to the extent possible the Owners shall cause such maintenance work to be
performed between the hours of 1:00 AM and 6:00 AM Central time.

            (b) Interruption of Normal Operations. If the Station suffers any
loss or damage of any nature to its transmission or studio facilities which
results in the interruption of service or the inability of the Station to
operate with its maximum authorized facilities (other than damage or destruction
caused by Broker), the Owners shall proceed to make such repairs as are
necessary to restore full-time operation of such Station with its maximum
authorized facilities as promptly as is commercially reasonable following the
occurrence of any such loss or damage. If the Owners are unable to or do not
commence such repairs as set forth above, Broker may undertake such repairs at
its own expense.

            (c) Studio Location. The Owners shall maintain a main studio
facility in accordance with the Communications Act and the FCC's rules and
policies, and shall staff said main studio consistent with the FCC's rules and
policies.

      12. Political Advertising. Broker shall maintain and deliver to the Owners
all records and information required by the FCC to be placed in the public
inspection file of the Station pertaining to the broadcast of political
programming and advertisements, and to the broadcast of programming addressing
political issues, in accordance with Sections 73.1943 and 73.3526 of the FCC's
rules. Broker shall consult and cooperate with the Owners and comply with all
applicable statutes, and the rules, regulations and policies of the FCC, as
announced from time to time, with respect to the carriage of political
advertisements and programming and the charges therefor. Broker promptly shall
supply to the Owners such information and documentation relating to such
programming, political advertisements and the charges therefor as the Owners are
required to maintain in their public inspection file or as they may reasonably
request. In the Owners' sole discretion, Broker shall release advertising
availabilities and program time as required by the FCC's rules and policies to
permit the Station to comply with the reasonable access provisions of Section
312(a)(7) of the Communications Act and the equal opportunities provision of
Section 315 of the Communications Act and the rules and policies of the FCC
promulgated thereunder.

      13. Children's Programming. (i) Broker agrees that it will not broadcast
advertising on the Station within programs designed for children age twelve (12)
years or under in excess of the amounts permitted under the FCC's rules, (ii)
Broker will pre-screen children's programming broadcast on the Station during
the hours it is providing such programming, to establish that advertising will
not be broadcast in excess of the applicable FCC rules, and (iii) Broker agrees
to broadcast sufficient children's programming on the Station to be in full
compliance with the rules and policies of the FCC. Broker shall be responsible
for providing all necessary information and documentation with respect to
children's programming to the Owners to enable Owners to prepare all reports and
certifications required to be placed in the Station's public inspection file.
Such reports and certifications shall include, without limitation, the
following: (a) a quarterly report on children's programming pursuant to Section
73.3526(e)(11)(iii) of the FCC's rules; and (b) a certificate with respect to
compliance with advertising limits in children's programs pursuant to Section
73.3526(e)(11)(ii) of the FCC's rules. Broker shall provide the Owners with
information

                                       9

<PAGE>

regarding the titles of all children's programs carried on the Station in the
past quarter in which the advertising limits apply, both local and network, all
program segments during which the allowed commercial limits were exceeded, and a
separate memo explaining why any excesses occurred. In carrying out its
obligations with respect to children's programming, Broker shall further
maintain records with respect to commercial matter in children's programming
either in the form of logs of programs reflecting the commercial time, tapes of
the programs, lists of commercial minutes aired in identified children's
programs, or appropriate certificates from networks and syndicators with respect
to compliance with the FCC's requirements on commercial limits.

      14. Handling of Communications. Broker and the Owners shall cooperate in
promptly responding to all mail, emails, telegrams or telephone calls directed
to the Station in connection with Broker's Programming, Broker or any other
matter relevant to Broker's responsibilities and obligations under this
Agreement. Broker shall promptly provide copies of all such correspondence that
it receives to the Owners, and the Owners shall promptly provide copies of all
such correspondence that they receive to Broker. Promptly upon receipt, Broker
shall advise the Owners, and the Owners shall advise Broker, of any public or
FCC complaint or inquiry known to Broker or the Owners, as applicable,
concerning Broker's Programming, and each shall provide the other with copies of
any letters from the public, including complaints concerning Broker's
Programming. Upon the Owners' request, Broker shall broadcast material
responsive to such complaints and inquiries relating to FCC complaints and any
other matters required to be handled by the Owners under the rules and
regulations of the FCC.

      15. Force Majeure. If there occurs any failure or impairment of facilities
for broadcast or any delay or interruption in the broadcast of programs, any
failure at any time to furnish facilities for broadcast or any other failure by
the Owners to perform any of their obligations under this Agreement, in each
case due to causes beyond the control of the Owners (including, without
limitation, by reason of any fire, strike, labor unrest, embargo, civil
commotion, rationing or other order or requirement, act of civil or military
authorities, act of God, or other contingencies beyond the control of the
Owners), then such failure, impairment, delay or interruption, by itself, shall
not constitute a breach of, a default or an Event of Default of the Owners under
this Agreement and the Owners will not be liable to Broker for any such failure,
impairment, delay or interruption so long as (if the Owners elect to remedy such
failure, impairment, delay or interruption) the Owners undertake and continue
reasonable efforts to remedy any such failure, impairment, delay or interruption
by returning the Station to their condition prior to such damage. Promptly
thereafter, if the Owners elect to do so by written notice to Broker, the Owners
will obtain any applicable insurance proceeds and apply such proceeds to the
cost of remedying such failure, impairment, delay or interruption; provided
that, if the Owners determine that they will not do so, the Owners will give
Broker prompt written notice of such determination. If the Owners elect not to
remedy such failure, impairment, delay or interruption (or if the Owners make no
election prior to the 10th day after such failure, impairment, delay or
interruption occurs), then Broker may elect to obtain such insurance proceeds
and effect such remedy by giving the Owners written notice to that effect.

      16. Trade Secrets and Proprietary Information. In the event that: (a) any
trade secrets or other proprietary information of Broker in connection with this
Agreement become known to the

                                       10

<PAGE>

Owners, and (b) such trade secrets and/or proprietary information are not
otherwise available in the public domain or known publicly, the Owners agree to
maintain the confidentiality of such trade secrets and/or proprietary
information and not to use or disclose any such trade secrets and/or proprietary
information without the prior written consent of Broker (except as required by
law, rule or regulation, or by order of any government agency or court or for
filing tax returns or enforcing their rights and remedies under this Agreement).

            In the event that: (i) any trade secrets or other proprietary
information of the Owners in connection with this Agreement become known to
Broker, and (ii) such trade secrets and/or proprietary information are not
otherwise available in the public domain or known publicly, Broker agrees to
maintain the confidentiality of such trade secrets and/or proprietary
information and not to use or disclose any such trade secrets and/or proprietary
information without the prior written consent of the Owners (except as required
by law, rule or regulation, or by order of any government agency or court or for
filing tax returns or enforcing its rights and remedies under this Agreement).

            The provisions of this Section 16 shall continue in effect for two
(2) years after the termination of this Agreement.

      17. Payola and Conflicts of Interest. Each of Broker and the Owners agrees
not to, and to use reasonable efforts to cause its employees who have the
ability to cause the broadcast of programs and/or commercial matter on the
Station not to, accept any consideration, compensation or gift or gratuity of
any kind whatsoever, regardless of its value or form, including, but not limited
to, a commission, discount, bonus, material, supplies or other merchandise,
services or labor (collectively, "Consideration"), whether or not pursuant to
written contracts or agreements between Broker, the Owners and merchants or
advertisers, in consideration for the broadcast of any matter on the Station
unless the payor is identified, in the broadcast for which Consideration was
provided, as having paid for or furnished such Consideration, in accordance with
Sections 317 and 507 of the Communications Act [47 U.S.C. ss.ss. 317 and 508]
and the FCC's rules and policies. Broker agrees to execute, and, as a condition
of each such employee's employment, to cause each of Broker's employees to
execute, at least once every calendar year, a payola/conflict of interest
affidavit in the form attached hereto as Exhibit C, and Broker agrees to deliver
the originals of all such affidavits to the Owners as expeditiously as possible
following their execution.

      18. Broker's Compliance with Law. Broker agrees that all activities,
actions, operations and transactions taken or entered into by Broker pursuant
hereto will comply in all respects with the Communications Act of 1934, as
amended, and the published rules and policies of the FCC (collectively, the
"Communications Laws") and all other applicable federal, state and local laws,
statutes, ordinances, rules and regulations, and all applicable court or
administrative orders or processes, and Broker shall not take any action that
would cause the Owners, the Station, or, in respect of the Station, the Broker
to violate or conflict with any Communications Laws or any other such laws,
statutes, ordinances, rules, regulations, orders or processes.

                                       11

<PAGE>

      19. Indemnification; Broker's Action.

            (a) Broker's Indemnification of the Owners. Broker will indemnify
and hold harmless the Owners and the Owners' employees, agents, officers,
contractors and affiliates from and against any and all liability, claims,
losses, damages and causes of action including but not limited to reasonable
attorney's fees (collectively, "Losses") arising out of or related to (i) any
material breach or default by Broker of any of its representations, warranties,
covenants or agreements made in this Agreement, (ii) Broker's Programming and
commercial advertisements provided, furnished or sold by Broker, and (iii) the
conduct and activities of Broker, its employees, contractors or agents
(including negligence and including conduct and activities of the Leased
Employees except to the extent directed by the officers of the Owners or their
affiliates). Without limiting the generality of the foregoing, Broker will
indemnify and hold harmless the Owners and the Owners' employees, agents,
officers, contractors and affiliates from and against any and all Losses for
libel and slander, infringement of trademarks, service marks or trade names,
invasion or violation of rights of privacy or infringement of copyrights and
other proprietary rights resulting from Broker's Programming or commercial
advertisements provided, furnished or sold by Broker. Broker's obligation to
indemnify and hold harmless the Owners and the Owners' employees, agents,
officers, contractors and affiliates from and against the Losses specified above
shall survive any termination of this Agreement until the expiration of all
applicable statutes of limitation. Notwithstanding anything herein to the
contrary, Broker shall not be required to indemnify the Owners or their
employees, agents, officers, contractors or affiliates with respect to Losses
relating to the terms of this Agreement or any other Agreement approved by the
Owners entered into in connection hereto being in conflict with, or resulting in
a breach or default of, any contract or agreement to which the Owners or their
affiliates are party to or bound by; provided further that no such conflict,
breach or default shall be deemed to be a breach of any provision of this
Agreement.

            (b) The Owners' Indemnification of Broker. Subject to Section 19(c)
below, the Owners will indemnify and hold harmless Broker and Broker's
employees, agents, officers, contractors and affiliates from and against any and
all Losses arising out of or related to (i) any material breach or default by
the Owners of any of their representations, warranties, covenants or agreements
made in this Agreement, (ii) the Owners' Programming provided or furnished by
the Owners under this Agreement, and (iii) the conduct and activities of the
Owners, their employees, contractors or agents (including negligence) (except,
with respect to Leased Employees, to the extent such employees' conduct and
activities are not directed by officers of the Owners or their affiliates).
Without limiting the generality of the foregoing, the Owners will indemnify and
hold harmless Broker and the Broker's employees, agents, officers, contractors
and affiliates from and against any and all Losses for libel and slander,
infringement of trademarks, service marks or trade names, invasion or violation
of rights of privacy or infringement of copyrights and other proprietary rights
resulting from the Owners' Programming provided or furnished by the Owners under
this Agreement. The Owners' obligation to indemnify and hold harmless Broker and
Broker's employees, agents, officers, contractors and affiliates from and
against the Losses specified above shall survive any termination of this
Agreement until the expiration of all applicable statutes of limitation.

                                       12

<PAGE>

            (c) Broker's Activities. Notwithstanding any provision of this
Agreement to the contrary, none of the following shall be deemed a default,
Event of Default (as defined below) or breach of the Owners' representations,
warranties, covenants or agreements under this Agreement: (i) any fact or
circumstance that occurs as a result of either any action or omission to act by
Broker pursuant to this Agreement, or by virtue of Broker's activities or
operations with respect to the Station, or (ii) without limiting the foregoing
clause (i), any failure of the Owners to comply with the terms of this Agreement
including, without limitation, Section 5(b)(iii), which is caused by Broker's
failure to pay the Time Brokerage Fees as required by the terms of this
Agreement.

            (d) Indemnification Procedures. The procedures for making a claim
for indemnification under Sections 19(a) and 19(b) and defending and settling
any third-party claim of this Agreement shall be governed by the provisions set
forth in Sections 9.3 and 9.4 of the Purchase Agreement, as applicable.

            (e) Insurance. Broker and the Owners each shall maintain
broadcasters' liability insurance policies covering libel, slander, invasion of
privacy and the like, general liability, blanket crime, property damage,
business interruption, automobile liability, and workers' compensation insurance
in forms and amounts customary in the television broadcast industry (in Broker's
case to the extent commercially reasonable, for example Broker shall not be
required to get insurance specifically with respect to property it doesn't own),
and each of the parties hereto shall name the other as an additional insured
under such policies to the extent that their respective interests may appear and
shall provide for notice to the other party prior to cancellation thereof. Upon
request, each party shall provide the other with certificates evidencing such
insurance, and shall further provide certificates evidencing renewal thereof
prior to the expiration of such policies.

      20. Events of Default. There shall exist an "Event of Default" under this
Agreement if (after the expiration of any applicable cure period):

            (a) Insolvency. Either party hereto (i) makes a general assignment
for the benefit of creditors or (ii) files or has filed against it a petition
for bankruptcy, for reorganization or for the appointment of a receiver, trustee
or similar creditors' representative for the property or assets of such party
under any federal or state insolvency law, which if filed against such party has
not been dismissed or discharged within sixty (60) days thereafter; or

            (b) Breach or Default in Representations and Covenants. Broker or,
subject to Section 19(c) above, the Owners breach any material representation or
warranty made by it or them in this Agreement, or in any certificate or document
furnished by any of them to the other pursuant to this Agreement, or default in
the observance or performance of any material covenant, agreement, condition or
undertaking contained in this Agreement; provided, however, that an Event of
Default shall not be deemed to have occurred under this Section 20(b) until
fifteen (15) days after the non-defaulting party has provided the defaulting
party with written notice specifying the event or events that, if not cured,
would constitute an Event of Default, and such event has not been cured within
such time period. The 15-day period described above will be extended for a
reasonable period of

                                       13

<PAGE>

time if the defaulting party is acting in good faith to cure and such delay is
not materially adverse to the other party; or

            (c) Non-Payment. Broker's failure to timely pay any of the Time
Brokerage Fees; provided, however, that an Event of Default shall not be deemed
to have occurred under this Section 20(c) until five (5) days after the Owners
have provided Broker with written notice specifying such non-payment that, if
not cured, would constitute an Event of Default, and such non-payment has not
been cured within such time period; or

      21. Termination. In addition to any other remedies available to the
parties hereto at law or in equity, this Agreement may be terminated as set
forth below by either Broker or the Owners by written notice to the other party
(if in the case of Section 21(a) below, the party seeking to terminate is not
then in material default or breach hereof or of the Purchase Agreement):

            (a) Termination Upon Event of Default. Upon the occurrence of an
Event of Default, the non-defaulting party may terminate this Agreement,
provided that it is not also in material breach of this Agreement or the
Purchase Agreement, and provided further that if the matter of whether an Event
of Default has occurred is the subject of a dispute pursuant to this Agreement,
then this Agreement will terminate on the thirtieth (30th) day after the final
determination that such Event of Default has occurred.

            (b) Termination Upon Order of Governmental Authority. A
"Governmental Termination Event" will occur if any court or federal, state or
local government authority (including the FCC) orders or takes any action which
becomes effective and which requires the termination or material curtailment of
Broker's activities with respect to the Station pursuant to this Agreement;
provided that such order or action will no longer constitute a Governmental
Termination Event if such action or order is subsequently stayed or ceases to be
effective. If any court or federal, state or local government authority
announces or takes any other action or proposed action which is reasonably
likely to result in a Governmental Termination Event, then either Broker or the
Owners may seek administrative or judicial relief therefrom (in which event the
other of them shall cooperate with such effort in any reasonable manner
requested) and consult with such agency and its staff concerning such matters
and, in the event that this Agreement is not terminated as provided herein, use
their reasonable best efforts and negotiate in good faith a modification to this
Agreement which would obviate any such questions as to validity while
preserving, to the extent possible, the intent of the parties and the economic
and other benefits of this Agreement and the portions hereof the validity of
which are called into question. If the FCC designates the license renewal
application of the Station for a hearing as a consequence of this Agreement or
for any other reason, or initiates any revocation or other proceeding with
respect to the authorizations issued to the Owners for the operation of the
Station, then the Owners and Broker shall each use diligent, reasonable efforts
to contest such action, and shall each be responsible for its own expenses
incurred as a consequence of such FCC proceeding. Broker shall cooperate and
comply with any reasonable request of the Owners to assemble and provide to the
FCC information relating to Broker's performance under this Agreement. In the
event of termination of Broker's activities with respect to the Station pursuant
to this Agreement as a result of any Governmental Termination Event, the Owners
shall cooperate

                                       14

<PAGE>

reasonably with Broker to the extent permitted to enable Broker to fulfill
advertising or other programming contracts then outstanding. If a Governmental
Termination Event occurs, then the Term will continue until the date upon which
the activities of Broker and the Owners are required to be ceased, as mandated
by the agency or authority which brought about such Governmental Termination
Event.

            (c) Termination Upon Sale of Station. Notwithstanding any other
provision of this Agreement to the contrary, this Agreement shall automatically
terminate (except for the provisions of Sections 16, 19 and 22, which shall
survive any such termination) upon the consummation of the Closing or the
earlier termination of the Purchase Agreement.

Anything to the contrary herein notwithstanding, no expiration or termination of
this Agreement shall terminate the obligation of each party to indemnify the
other as provided in this Agreement or limit or impair any party's rights to
receive payments due and owing or accruing under this Agreement on or before the
date of such termination (including, without limitation, Broker's obligation to
pay all of the Time Brokerage Fees that have accrued or are owed on or before
the date of such termination), which rights and obligations shall survive any
such expiration or termination of this Agreement.

      22. Effect of Termination Other Than at Closing. If this Agreement
terminates other than at Closing:

            (a) Reimbursement of Capital Expenditures. Owners shall reimburse
Broker, within twenty (20) days of notice and documentation from Broker, for
capital expenditures for the Station (including those described in Section 23
below) which Broker paid pursuant to this Agreement or the Purchase Agreement,
either directly (to the extent approved by Owners, which approval Owners will
not unreasonably withhold) or by reimbursing Owners, and upon reimbursement
thereof by the Owners, Broker shall assign, transfer and convey to the Owners
good and marketable title to any property purchased with such capital
expenditures free and clear of any and all liens, charges, security interests
and encumbrances.

            (b) Collection of Post-Commencement, Pre-Termination Receivables and
Payment of Post-Commencement, Pre-Termination Payables. The following procedures
hereinafter set forth in this Section 22 will apply with respect to the accounts
receivable of the Station pursuant to contracts pursuant to which commercial air
time of the Station has been sold or traded in consideration for any property or
services in lieu of or in addition to cash and cash equivalents (the "Trade
Contracts") as of the time (the "Termination Time") at which this Agreement
terminates other than at Closing (the "Pre-Termination Trade Receivables"), the
other accounts receivable of the Station as of the Termination Time (the
"Pre-Termination Receivables"), the accounts payable of the Station pursuant to
Trade Contracts as of the Termination Time (the "Pre-Termination Trade
Payables"), and the other current liabilities of Broker, with respect to the
Station, as of the Termination Time (the "Pre-Termination Payables"), in each
case excluding those accounts receivable and accounts payable existing as of the
Commencement Time and in each case as determined in accordance with Section 2.4
of the Purchase Agreement and Section 22(i) of this

                                       15

<PAGE>

Agreement. The Time Brokerage Fee will not be a Pre-Termination Receivable or a
Pre-Termination Payable.

            (c) Billing and Performance by Owners. From and after the
Termination Time, on behalf of Broker, Owners, at no charge to Broker, will (in
accordance with Owners' standard billing procedures for the Station) issue
invoices for advertising time sold and provided by the Station prior to the
Termination Time and not invoiced by Broker prior to the Termination Time, and
will use their respective commercially reasonable efforts to cause the Station
to perform Broker's obligations with respect to the Pre-Termination Trade
Payables.

            (d) Collection and Application by Owners. Effective at the
Termination Time, Broker shall assign to Owners the Pre-Termination Receivables
and the Pre-Termination Trade Receivables. During the four months after the
Termination Time (the "Collection Period"), Owners will use commercially
reasonable efforts in accordance with their normal business practices (not
including resorting to or threatening litigation) to collect the Pre-Termination
Receivables. Owners will not be required to segregate the proceeds of the
collection of the Pre-Termination Receivables from other funds of Owners.
Collections from any Person which is a debtor with respect to a Pre-Termination
Receivable (a "Pre-Termination Debtor") will be applied in the chronological
order of Owners' and Broker's billings to such Pre-Termination Debtor (i.e., to
the oldest unpaid billing first) except to the extent that (i) such
Pre-Termination Debtor disputes its obligation to pay such billing or (ii) such
Pre-Termination Debtor indicates that such payment is to be applied in another,
specified manner (in which case it will be applied in such manner). Owners will
take no action to encourage a Pre-Termination Debtor to dispute its obligation
to pay any billing that relates to a Pre-Termination Receivable or encourage a
Pre-Termination Debtor to specify that any payment from such Pre-Termination
Debtor is to be applied to billings to such Pre-Termination Debtor other than in
their chronological order.

            (e) Non-Interference. So long as Owners are in compliance with this
Section 22, during the Collection Period, neither Broker nor any agent of Broker
will make any direct solicitation of any Pre-Termination Debtor for purposes of
collecting any Pre-Termination Receivable, except as may be agreed to by Owners
and except with respect to Delinquent Accounts. "Delinquent Accounts" means
those Pre-Termination Receivables which may be or become more than 180 days past
due and those accounts with respect to which Owners have received written notice
of a dispute from the related Pre-Termination Debtor (a copy of which notice
Owners will promptly forward to Broker). Owners will not discourage any
Pre-Termination Debtor from paying, or otherwise interfere with Broker's efforts
in accordance with this Section 22 to collect, any Delinquent Account; provided
that Owners will not be prohibited from ceasing or altering their methods of
doing business with any such Pre-Termination Debtor or pursuing or taking any
action in connection with the collection of any amount which may be owing by any
such Pre-Termination Debtor to Owners or any of Owners' Affiliates.

            (f) Payment of Pre-Termination Payables. During the Collection
Period, Owners will pay and discharge the Pre-Termination Payables as and when
the same become due and payable. For this purpose, Owners may utilize the
proceeds of the collection of the Pre-Termination

                                       16

<PAGE>

Receivables and/or other funds of Owners; provided that Owners shall not be
required to expend in the payment or discharge of Pre-Termination Payables an
amount in excess of the proceeds of the Pre-Termination Receivables actually
received by them.

            (g) Adjustment Amount. The "Net Adjustment" means the following:

                  (i)   the aggregate amount of the proceeds of the
                        Pre-Termination Receivables actually received by Owners
                        during the Collection Period, reduced by

                  (ii)  the aggregate amount actually paid by Owners during the
                        Collection Period in satisfaction of the Pre-Termination
                        Payables, further reduced by

                  (iii) the aggregate amount of the Pre-Termination Payables
                        that have not become due and payable prior to the end of
                        the Collection Period (e.g., any portion of the accrued
                        vacation pay accrued following the Commencement Time and
                        as of the Termination Time in respect of vacations that
                        have not been taken as of the end of the Collection
                        Period), and further reduced by

                  (iv)  the amount (if any) by which the excess (if any) of the
                        Pre-Termination Trade Payables over the amount of the
                        Pre-Termination Trade Receivables exceeds Fifteen
                        Thousand Dollars ($15,000).

            At the end of the Collection Period, the Owners shall reassign to
Broker the Pre-Termination Receivables, to the extent they have not been
collected prior to the end of the Collection Period, and thereafter the Owners
will turn over to Broker any proceeds of the Pre-Termination Receivables
actually received by the Owners after the end of the Collection Period.

            (h) Reports: Adjustment Procedures.

                  (i)   Monthly Report. On or prior to the 30th day after the
                        end of each month during the Collection Period, the
                        Owners will prepare and submit to Broker a report
                        providing reasonable detail with respect to the Owners'
                        (A) collections of Pre-Termination Receivables, and (B)
                        payments of Pre-Termination Payables, in each case
                        pursuant to this Section 22.

                  (ii)  Report After End of Collection Period. Estimated
                        Payment. On or prior to the 30th day after the end of
                        the Collection Period, the Owners will prepare and
                        submit to Broker a report (the "Owners' Report") setting
                        forth the Owners' determination of the Net

                                       17

<PAGE>

                        Adjustment (the "Estimated Adjustment"). The Estimated
                        Adjustment will become final and binding upon the Owners
                        and Broker, and thus become the "Final Net Adjustment",
                        on the fifteenth (15th) business day after the Owners'
                        Report is delivered to Broker unless, prior to such
                        date, Broker gives the Owners written notice stating
                        that the Broker disagrees with such determination and,
                        to the extent reasonably possible, stating in reasonable
                        detail the nature, extent of, and basis for, Broker's
                        disagreement.

                  (iii) Mutual Resolution. If Broker timely gives the Owners
                        such a dispute notice, then, during the 30 days after
                        Broker gives such dispute notice, Broker and the Owners
                        will attempt in good faith to resolve such disagreement,
                        including paying the amounts agreed upon; and any mutual
                        determination and payment of the Final Net Adjustment by
                        Broker and the Owners will be final and binding upon the
                        Owners and Broker on the date of such mutual
                        determination.

                  (iv)  Resolution by Accounting Firm. If any such dispute
                        cannot be resolved by the Owners and Broker on or prior
                        to such 30th day, then such dispute will be referred to
                        an independent public accounting firm of national
                        stature which is designated and retained by the Owners
                        and approved by Broker (which approval Broker will not
                        unreasonably withhold) and which has not been employed
                        by any party or any of its affiliates during any portion
                        of the three years preceding the date of such retention,
                        and such firm's determination of the Final Net
                        Adjustment will be final and binding upon the Owners and
                        Broker. The fees and expenses of the independent
                        accounting firm shall be shared equally by the Owners,
                        on the one hand, and Broker, on the other hand.

                  (v)   Final Settlement. Within five (5) business days after
                        the Final Net Adjustment is finally determined in
                        accordance with this Section 22: subject to payments
                        made pursuant to clause (iii) above (x) if the Final Net
                        Adjustment is greater than zero, then the Owners will
                        pay to Broker the amount by which the Final Net
                        Adjustment exceeds zero, and (y) if the Final Net
                        Adjustment is less than zero, then Broker will pay to
                        the Owners the amount by which the Final Net Adjustment
                        is less than zero. The amount to be paid will be paid by
                        wire transfer of immediately available funds to an
                        account of the recipient specified by notice to the
                        paying party.

            (i) Proration. In the event of termination of this Agreement (other
than by reason of the Closing), the parties shall pro rate the revenues,
expenses, and liabilities attributable to the Station, including the power and
utilities, ad valorem property taxes (upon the basis of the most

                                       18

<PAGE>

recent assessment available), rents, income and sales taxes, and similar
accruing, prepaid and deferred items, in accordance with the principles that the
Broker will be allocated revenues earned or accrued, and expenses, costs and
liabilities incurred in or allocable, with respect to the business and operation
of the Station from the Commencement Time through the Termination Time and the
Owners will be allocated revenues earned or accrued, and expenses, costs and
liabilities incurred in or allocable, with respect to the business and operation
of the Station after the Termination Time.

            (j) Condition of Property. Broker shall return the Owners' assets,
properties and facilities in the condition such assets, properties and
facilities were in as of the date of this Agreement, ordinary wear and tear
excepted.

      23. Advanced Television/High Definition Television. The FCC has authorized
additional spectrum for digital television service and has assigned to the
Owners a specific channel on which KODE may transmit digital television
broadcasts (the "DTV Channel"). To the extent that the DTV Channel is
operational prior to the Closing, Broker shall have the right to utilize the DTV
Channel and the facilities authorized with respect thereto under the terms and
conditions set forth herein. In the event that the FCC assesses the Owners any
spectrum fees or other charges for the Broker's use of the DTV Channel, such FCC
fees and other charges shall be subject to reimbursement by Broker pursuant to
Exhibit A hereof.

      24. Billing; Records. Broker shall keep written records relating to the
sale of commercial advertising on the Station and Broker's Programming
consistent with Broker's or its affiliates' past practices. The parties hereto
and their authorized agents, officers and representatives, upon prior written
request, shall have reasonable access to the appropriate books and records of
the other parties hereto to conduct such examination and investigation as the
requesting party or parties deem reasonably necessary to assure compliance with
the terms and provisions of this Agreement and to permit the parties hereto to
comply with their tax reporting compliance requirements, provided that such
examination and investigation shall be at the requesting party's or parties'
sole cost and expense and shall be during the Station's normal business hours.

      25. Notices. All notices, demands and requests required or permitted to be
given under the provisions of this Agreement shall be (a) in writing, (b)
delivered to the recipient by telecopy or facsimile machine, in person or sent
by commercial delivery service or registered or certified mail, postage prepaid
and return receipt requested, (c) deemed to have been given on the date received
by the recipient (if delivered in person, by telecopy or facsimile machine or by
registered or certified mail) or on the date set forth in the records of the
delivery service (if delivered by commercial delivery service) and (d) addressed
as follows:

                                       19

<PAGE>

      If to the Owners:

                        c/o GOCOM Holdings, LLC
                        7621 Little Avenue, Suite 506
                        Charlotte, NC  28226
                        Attention:    Ric Gorman
                        Telecopy No.: (704) 341-0945

      with a copy (which shall not constitute notice to the Owners) to:

                        Wyrick Robbins Yates & Ponton LLP
                        4101 Lake Boone Trail
                        Suite 300
                        Raleigh, NC 27607
                        Attention:    Stephen Brissette
                        Telecopy No.: (919) 781-4865

                        and

                        Cohn and Marks
                        1920 N Street, NW
                        Suite 300
                        Washington, DC  20036
                        Attention:    Joseph M. Di Scipio, Esq.
                        Telecopy No.: (202) 293-4827

      If to Broker:
                        Mission Broadcasting of Joplin, Inc.
                        544 Red Rock Drive
                        Wadsworth, OH 44281
                        Attention:    David S. Smith
                        Telecopy No.: (330) 336-8454

      with a copy (which shall not constitute notice to Broker) to:

                        Arter & Hadden LLP
                        1801 K Street, N. W.
                        Washington, DC  20006-1301
                        Attention:    Howard M. Liberman
                        Telecopy No.: (202) 857-0172

                                       20

<PAGE>

                        Kirkland & Ellis
                        Citigroup Center
                        153 East 53rd Street
                        New York, NY 10022
                        Attention:  John Kuehn
                        Telecopy No.: (212) 446-4900

or to any such other or additional Persons and addresses as the parties may from
time to time designate in a writing delivered in accordance with this Section
25.

      26. Modification and Waiver. No amendment, supplement or modification of
any provision of this Agreement shall be effective unless the same shall be in
writing and signed by the party against whom enforcement of any such amendment,
supplement or modification is sought, and then such amendment, supplement or
modification shall be effective only in the specific instance and for the
purpose for which given.

      27. Construction. This Agreement shall be governed by and construed in
accordance with the domestic laws of the State of Delaware, without giving
effect to any choice of law or conflict of law provision or rule (whether of the
State of Delaware or any other jurisdiction) that would cause the application of
the laws of any jurisdiction other than the State of Delaware.

      28. Headings. The headings in this Agreement are included for ease of
reference only and will not control or affect the meaning or construction of the
provisions of this Agreement.

      29. Assignment; Change of Control. This Agreement and any rights,
benefits, interests, obligations or liabilities or interests in this Agreement
may not be assigned by either party (including by way of a transfer of a
majority of the direct or indirect voting power of either Owner or the Broker)
without the express written approval of the other party, which consent shall not
be unreasonably withheld; provided that the Owners and the Broker shall be
permitted to assign their respective rights hereunder to their respective
lenders without obtaining any such written approval.

      30. Counterparts. This Agreement may be signed in any number of
counterparts with the same effect as if the signature(s) on each such
counterpart were upon the same instrument. This Agreement shall be effective as
of the date first above written. This Agreement may be executed and delivered in
counterpart signature pages executed and delivered via facsimile transmission,
and any such counterpart executed and delivered via facsimile transmission shall
be deemed an original for all intents and purposes.

      31. Entire Agreement. This Agreement and the Purchase Agreement, and the
documents referred to herein and therein contain the entire agreement between
the parties with respect to the subject matter of this Agreement, and supersede
any prior understandings, agreements or representations by or between the
parties, written or oral, which may have related to the subject matter hereof in
any way.

                                       21

<PAGE>

      32. No Partnership or Joint Venture Created. Nothing in this Agreement
shall be construed to create a partnership or joint venture between the Owners
and Broker or to afford any rights to any third party other than as expressly
provided herein. Neither the Owners nor Broker shall have any authority to
create or assume in the name or on behalf of the other party any obligation,
express or implied, or to act or purport to act as the agent or legally
empowered representative of the other party hereto for any purpose.

      33. Severability. Whenever possible each provision of this Agreement will
be interpreted so as to be effective and valid under applicable law. Subject to
the provisions of Section 22 above, if any provision of this Agreement is held
to be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without
invalidating or otherwise affecting the remainder or such provision or the
remaining provisions of this Agreement.

      34. Legal Effect. This Agreement shall be binding shall inure to the
benefit of the parties hereto, their heirs, executors, personal representatives,
successors and assigns.

      35. No Party Deemed Drafter. No party will be deemed the drafter of this
Agreement and if this Agreement is construed by a court of law such court should
not construe this Agreement or any provision against any party as its drafter.

      36. Further Assurances. Each of the Owners and the Broker agree that they
shall use their reasonable efforts from time to time as is necessary and as is
reasonably requested by another party to this Agreement to further effect the
clear intent of this Agreement.

                                       22

<PAGE>

      IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be
effective as of the date first written above.

                                 GOCOM BROADCASTING OF JOPLIN, LLC

                                 By:  /s/ Richard L. Gorman
                                    ----------------------------
                                 Name:  Richard L. Gorman
                                 Title: President

                                 GOCOM OF JOPLIN LICENSE SUB, LLC

                                 By:  /s/ Richard L. Gorman
                                    ----------------------------
                                 Name:  Richard L. Gorman
                                 Title: President

                                 MISSION BROADCASTING OF JOPLIN, INC.

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

                                       23

<PAGE>

                           TIME BROKERAGE AGREEMENT

                                  EXHIBIT A

                        PAYMENT OF TIME BROKERAGE FEES

In accordance with Section 4 of the Agreement, beginning on the Commencement
Date Broker shall pay to Owners the following Time Brokerage Fees:

      A. For each calendar month during the Term, Broker shall pay a monthly fee
(the "Monthly Fee") in the amount of Thirty-Five Thousand Dollars ($35,000).
Such Monthly Fee shall be due and payable on the first business day of the next
month after the month for which such payment is due.

      B. Within five (5) days after the conclusion of each calendar month during
the Term, the parties shall review the documentation of the Owners' actual
reasonable monthly operating costs and expenses (not including salaries which
are addressed below) incurred by the Owners during the prior calendar month in
connection with their ownership and operation of the Station in accordance with
the terms and conditions of this Agreement (the "Monthly Costs"). Such operating
costs and expenses of the Owners shall not be materially inconsistent with
operating costs and expenses incurred by the Station in prior operating months
(except for changes effected by this Agreement and the Purchase Agreement,
including Broker's employment of the Eligible Employees under Section 10.2
thereof). Broker shall pay the Owners the amount of the Monthly Costs within ten
(10) days of the provision by the Owners to the Broker of said documentation;
provided that if Broker does not pay the Owners the full amount of the Monthly
Costs within ten (10) days of such provision, the unpaid amount of such Monthly
Costs shall accrue interest at a rate of 10% per annum from the day the
documentation was provided to Broker until paid in full. In addition, Broker
shall advance Owners the amounts needed for salaries for the Owners' Station
employees, by wire transfer of funds, at least two (2) business days prior to
the Station's regular employee pay days; provided that, in any case, Broker
shall not be responsible for paying or reimbursing the Owners for compensation
paid to employees of the Owners in excess of the amounts approved by the parties
or if there shall be no such agreement, the amounts in effect as of the date of
this Agreement. The Monthly Costs are in addition to the Monthly Fees.

      C. Notwithstanding anything in this Exhibit A or the Agreement to the
contrary: (a) for any calendar month during which the Agreement is not in force
for the entire month, the Time Brokerage Fee shall be prorated accordingly; (b)
Broker shall not be responsible for any bonuses which Owners pay to their
employees in return for their continual employment through the Closing under the
Purchase Agreement; and (c) except as set forth in the Purchase Agreement,
Broker shall not be responsible for any severance payments paid to the Owners'
employees.

      D. Notwithstanding the foregoing, the amount of Time Brokerage Fees
payable by Broker to Owners hereunder shall be reduced, on a dollar-for-dollar
basis, by any revenues received by Owners for the carriage of programming on the
Station or any other revenues received in

                                     A - 1

<PAGE>

connection to the operation of the Station not including the Time Brokerage Fees
(provided that for the purposes of avoiding "double-counting," revenues shall
not be included for the purposes of this sentence to the extent such revenues
are paid by the Owners to the Broker pursuant to any other provision of this
Agreement or the Purchase Agreement); provided that to the extent such revenues
exceed the Time Brokerage Fees, Owners shall pay the amount of such excess to
Broker.

Time is of the essence in Broker's payment of the Time Brokerage Fees to the
Owners.

                                     A - 2

<PAGE>

                            TIME BROKERAGE AGREEMENT

                                    EXHIBIT B

      Broker agrees to cooperate with Owners in the broadcasting of programs of
the highest possible standard of excellence and for this purpose to observe the
following regulations in the preparation, writing and broadcasting of its
programs:

      I. Religious Programming. The subject of religion and references to
particular faiths, tenants, and customs shall be treated with respect at all
times. Programs shall not be used as a medium for attack on any faith,
denomination, or sect or upon any individual or organization.

      II. Controversial Issues. Any discussion of controversial issues or public
importance shall be reasonably balanced with the presentation of contrasting
viewpoints in the course of overall programming; no attacks on the honesty,
integrity, or like personal qualities of any Person or group of Persons shall be
made during the discussion of controversial issues of public importance; and
during the course of political campaigns, programs are not to be used as a forum
for editorializing about individual candidates. If such events occur, Owner may
require that responsive programming be aired.

      III. No Plugola or Payola. The mention of any business activity or "plug"
for any commercial, professional, or other related endeavor, except where
contained in an actual commercial message of a sponsor, is prohibited.

      IV. No Lotteries. Announcements giving any information about lotteries or
games prohibited by federal or state law or regulation are prohibited.

      V. Election Procedures. At least ninety (90) days before the start of any
primary or regular election campaign, Broker will clear with Owner's General
Manager the rate Broker will charge for the time to be sold to candidates for
public office and/or their supporters to make certain that the rate charged
conforms to all applicable laws and the policy of the Station.

      VI. Spot Commercial Limitations. With respect to any given segment of air
time hereunder, the amount of spot commercial matter shall not exceed 20 minutes
during any sixty minute segment. Broker will provide, for attachment to the
Station's logs, a list of all commercial announcements carried during its
programming.

      VII. Required Announcements. Broker shall broadcast (a) an announcement in
a form satisfactory to Owners at the beginning of each hour to identify Station
KODE, (b) an announcement at the beginning and end of each program, and hourly,
as appropriate, to indicate that program time has been purchased by Broker, and
(c) any other announcement that may be required by law, regulation, or the
policy of the Station.

                                     B - 1

<PAGE>

      VIII. Credit Terms Advertising. Pursuant to rules of the Federal Trade
Commission, any advertising of credit terms shall be made over the Station in
accordance with all applicable federal and state laws, including Regulations Z
and M.

      IX. Commercial Record Keeping. Broker shall not receive any consideration
in money, goods, services, or otherwise, directly or indirectly (including to
relatives) from any Person for the presentation of any programming over the
Station without reporting the same in advance to and receiving the prior written
consent of Owners' Manager. No commercial messages ("plugs") or undo references
shall be made in programming presented over the Station to any business venture,
profit making activity, or other interest (other than noncommercial
announcements for bona fide charities, church activities, or other public
service activities) in which Broker (or anyone else) is directly or indirectly
interested without the same having been approved in advance by Owners' Manager
and such broadcast being announced and logged and sponsored.

      X. No Illegal Announcements. No announcements or promotion prohibited by
federal or state law or regulation of any lottery or game shall be made over the
Station. Any game, contest, or promotion relating to or to be presented over the
Station must be fully stated and explained in advance to Owner, which reserves
the right in its sole discretion to reject any game, contest, or promotion.

      XI. Owners Discretion Paramount. In accordance with the Owners'
responsibility under the Communications Act of 1934, as amended, and the rules
and regulations of the Federal Communications Commission, Owners reserve the
right to reject or terminate any advertising proposed to be presented or being
presented over the Station which is in conflict with the policy of the Station
or which in the reasonable judgment of Owners or its General Manager would not
serve the public interest.

      XII. Programming in Which Broker has a Financial Interest. Broker shall
advise the General Manager of the Station with respect to any programming
(including commercial(s) concerning goods or services in which Broker has a
material financial interest. Any announcements for such goods and services shall
clearly identify Broker's financial interest.

      XIII. Programming Prohibitions. Broker shall not broadcast any of the
following programs or announcements:

            A. False Claims. False or unwarranted claims for any product or
service.

            B. Unfair Imitation. Infringements of another advertiser's rights
through plagiarism or unfair imitation or either program idea or copy, or any
other unfair competition.

            C. Commercial Disparagement. Any disparagement of competitors or
competitive goods.

                                     B - 2

<PAGE>

            D. Profanity. Any programs or announcements that are slanderous,
obscene, profane, vulgar, repulsive or offensive, either in theme or treatment.

            E. Price Disclosure. Any price mentions except as permitted by
Licensee's policies current at the time.

            F. Unauthenticated Testimonials. Any testimonials which cannot be
authenticated.

            G. Descriptions of Bodily Functions. Any continuity which describes
in a repellent manner internal bodily functions or symptomatic results or
internal disturbances, and no reference to matters which are not considered
acceptable topics in social groups.

            H. Conflict Advertising. Any advertising matter or announcement
which may, in the reasonable opinion of Licensee, be injurious or prejudicial to
the interests of the public, the Station, or honest advertising and reputable
business in general.

            I. Fraudulent or Misleading Advertisement. Any advertisement matter,
announcement, or claim which Broker knows to be fraudulent, misleading, or
untrue.

      Licensees may waive any of the foregoing regulations in specific instances
if, in its reasonable opinion, good broadcasting in the public interest will be
served thereby.

      In any case where questions of policy or interpretation arise, Broker
shall submit the same to Licensees for decision before making any commitments in
connection therewith.

                                     B - 3

<PAGE>

                            TIME BROKERAGE AGREEMENT

                                    EXHIBIT C

County of _______________

State of ________________

      ANTI-PAYOLA/PLUGOLA AFFIDAVIT

      (Name)          , being first duly sworn, deposes and says as follows:

      1.    He is      (Position)      for [Broker] ("Broker").

      2.    He has acted in the above capacity since (date) .

      3.    No matter has been broadcast by Station(s) ____ for which service,
            money or other valuable consideration has been directly or
            indirectly paid, or promised to, or charged, or accepted, by him
            from any person, which matter at the time so broadcast has not been
            announced or otherwise indicated as paid for or furnished by such
            person.

      4.    So far as he is aware, no matter has been broadcast by Station(s)
            ____ for which service, money, or other valuable consideration has
            been directly or indirectly paid, or promised to, or charged, or
            accepted by Station(s) by the Broker, or by any independent
            contractor engaged by the Broker in furnishing programs, from any
            person, which matter at the time so broadcast has not been announced
            or otherwise indicated as paid for or furnished by such person.

      5.    In the future, he will not pay, promise to pay, request, or receive
            any service, money, or any other valuable consideration, direct or
            indirect, from a third-party, in exchange for the influencing of, or
            the attempt to influence, the preparation or presentation of
            broadcast matter on Station(s) ____.

      6.    Except as may be reflected in paragraph 7 hereof, neither he, his
            spouse nor any member of his immediate family has any present direct
            or indirect ownership interest in any entity engaged in the
            following business or activities (other than an investment in a
            corporation whose stock is publicly held), serves as an officer or
            director of, whether with or without compensation, or serves as an
            employee of, any entity engaged in the following business or
            activities:

            1.    The publishing of music;

                                     C - 1

<PAGE>

            2.    The production, distribution (including wholesale and retail
                  sales outlets), manufacture or exploitation of music, films,
                  tapes, recordings or electrical transcriptions of any program
                  material intended for radio broadcast use;

            3.    The exploitation, promotion, or management of persons
                  rendering artistic, production and/or other services in the
                  entertainment field;

            4.    The ownership or operation of one or more radio or television
                  Stations;

            5.    The wholesale or retail sale of records intended for public
                  purchase;

            6.    The sale of advertising time other than on Station(s) ____ or
                  any other Station owned by the Broker.

            7.    A full disclosure of any such interest referred to in
                  paragraph 6, above, is as follows:

                  -------------------------------------------------------------

                  -------------------------------------------------------------

                  -------------------------------------------------------------

                                                -------------------------------
                                                Affiant

Subscribed and sworn to before me
this ____ day of _________, 2001.

---------------------------------
        Notary Public

My commission expires: __________

                                     C - 2

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