Document:

Exhibit 10.07.02.01

 

FIRST AMENDMENT TO ASSET PURCHASE
AGREEMENT

 

This First Amendment to the Asset Purchase
Agreement (“Amendment”), is entered into as of May 25, 2016, and amends the Asset Purchase Agreement for FM Translator
construction permit W222BT, FCC Facility ID 142973, made and entered into as of the 18th of May, 2016 (the “Agreement”),
by and between Delmarva Educational Association (“Seller”) and Pennsylvania Media Associates, Inc. (“Buyer”).

 

RECITAL

 

The purpose of this Amendment is to change
the proposed primary station to be designated in the modification of the Permit that Buyer is allowed to file under the Agreement.

 

AGREEMENT

 

In consideration of the mutual covenants
and agreements set forth herein, the parties, intending to be legally bound, hereby agree as follows:

 

1.          Amendment
to Section 10. Section 10 of the Agreement shall be amended by deleting the existing second sentence of that Section and
replacing it with the following sentence: “Such application shall be prepared and filed in accordance with the procedure
specified by the FCC pursuant to MB Docket 13-249 to request modifications to the Permit and/or a change in the transmitter site
for the Permit to a location designated by Buyer which, if approved by the FCC, will permit the Translator to be used as a fill-in
for Buyer’s Class B AM radio station WTLN(AM).”

 

2.          Continued
Effect of the Agreement. All capitalized terms not defined herein shall have the same meaning as in the Agreement. Except
as expressly modified by this Amendment, all other terms and conditions of the Agreement shall remain in full force and effect
and be binding on the parties. This Amendment may not be modified, renewed, extended, or discharged except by a further amendment
to the Agreement in writing, signed by both parties.

 

3.          Effective
Date of this Amendment. This Amendment shall be effective as of May 25, 2016.

 

IN WITNESS WHEREOF,
the parties have executed this Amendment as of the date first set forth above.

 

	PENNSYLVANIA MEDIA ASSOCIATES, INC.	 	DELMARVA EDUCATIONAL ASSOCIATION
	 	 	 
	/s/ Christopher J. Henderson	 	/s/ Nancy. A. Epperson
	By: Christopher J. Henderson	 	By: Nancy A. Epperson
	Its: Senior Vice President/Secretary	 	Its: President

 

    	 	Page 1 of 1Exhibit 10.07.02.02

 

SECOND AMENDMENT TO ASSET PURCHASE
AGREEMENT

 

This Second Amendment to the Asset Purchase
Agreement (“Amendment”), is entered into as of July 27, 2016, and amends the Asset Purchase Agreement for FM Translator
construction permit W222BT, FCC Facility ID 142973, made and entered into as of the 18th of May, 2016 (the “Agreement”),
by and between Delmarva Educational Association (“Seller”) and Pennsylvania Media Associates, Inc. (“Buyer”).

 

RECITAL

 

The purpose of this Amendment is to change
the proposed primary station to be designated in the modification of the Permit that Buyer is allowed to file under the Agreement.

 

AGREEMENT

 

In consideration of the mutual covenants
and agreements set forth herein, the parties, intending to be legally bound, hereby agree as follows:

 

1.          Amendment
to Section 10. Section 10 of the Agreement shall be amended by deleting the existing second sentence of that Section and
replacing it with the following sentence: “Such application shall be prepared and filed in accordance with the procedure
specified by the FCC pursuant to MB Docket 13-249 to request modifications to the Permit and/or a change in the transmitter site
for the Permit to a location designated by Buyer which, if approved by the FCC, will permit the Translator to be used as a fill-in
for Buyer’s AM radio station WGUL(AM).”

 

2.          Continued
Effect of the Agreement. All capitalized terms not defined herein shall have the same meaning as in the Agreement. Except
as expressly modified by this Amendment, all other terms and conditions of the Agreement shall remain in full force and effect
and be binding on the parties. This Amendment may not be modified, renewed, extended, or discharged except by a further amendment
to the Agreement in writing, signed by both parties.

 

3.          Effective
Date of this Amendment. This Amendment shall be effective as of July 25, 2016.

 

IN WITNESS WHEREOF,
the parties have executed this Amendment as of the date first set forth above.

 

	PENNSYLVANIA MEDIA ASSOCIATES, INC.	 	DELMARVA EDUCATIONAL ASSOCIATION
	 	 	 
	/s/ Christopher J. Henderson	 	/s/ Nancy. A. Epperson
	By:  Christopher J. Henderson	 	By:  Nancy A. Epperson
	Its:  Senior Vice President/Secretary	 	Its:  President

 

    	 	Page 1 of 1Exhibit 10.07.02.03

 

THIRD AMENDMENT TO ASSET PURCHASE
AGREEMENT

 

This Third Amendment to the Asset Purchase
Agreement (“Amendment”), is entered into as of July 29, 2016, and amends the Asset Purchase Agreement for FM Translator
construction permit W222BT, FCC Facility ID 142973, made and entered into as of the 18th of May, 2016 (the “Agreement”),
by and between Delmarva Educational Association (“Seller”) and Pennsylvania Media Associates, Inc., which assigned
the Agreement to Caron Broadcasting, Inc. as of July 27, 2016. Caron Broadcasting, Inc. in turn assigned the Agreement to South
Coast Broadcasting, Inc. as of July 29, 2016 (“Buyer”).

 

RECITAL

 

The purpose of this Amendment is to change
the proposed primary station to be designated in the modification of the Permit that Buyer is allowed to file under the Agreement.

 

AGREEMENT

 

In consideration of the mutual covenants
and agreements set forth herein, the parties, intending to be legally bound, hereby agree as follows:

 

1.          Amendment
to Section 10. Section 10 of the Agreement shall be amended by deleting the existing second sentence of that Section and
replacing it with the following sentence: “Such application shall be prepared and filed in accordance with the procedure
specified by the FCC pursuant to MB Docket 13-249 to request modifications to the Permit and/or a change in the transmitter site
for the Permit to a location designated by Buyer which, if approved by the FCC, will permit the Translator to be used as a fill-in
for Buyer’s AM radio station WTWD.”

 

2.          Continued
Effect of the Agreement. All capitalized terms not defined herein shall have the same meaning as in the Agreement. Except
as expressly modified by this Amendment, all other terms and conditions of the Agreement shall remain in full force and effect
and be binding on the parties. This Amendment may not be modified, renewed, extended, or discharged except by a further amendment
to the Agreement in writing, signed by both parties.

 

3.          Effective
Date of this Amendment. This Amendment shall be effective as of July 25, 2016.

 

IN WITNESS WHEREOF,
the parties have executed this Amendment as of the date first set forth above.

 

	SOUTH TEXAS BROADCASTING, INC.	 	DELMARVA EDUCATIONAL ASSOCIATION
	 	 	 
	/s/ Christopher J. Henderson	 	/s/ Nancy. A. Epperson
	By:  Christopher J. Henderson	 	By:  Nancy A. Epperson
	Its:  Senior Vice President/Secretary	 	Its:  President

 

    	 	Page 1 of 1Exhibit 10.07.02.04

 

ASSIGNMENT AND ASSUMPTION OF ASSET
PURCHASE AGREEMENT

 

This Assignment and
Assumption of Asset Purchase Agreement (“Assignment and Assumption”), dated as of July 27, 2016, is entered into by
and between Pennsylvania Media Associates, Inc., a Pennsylvania corporation (“Assignor”) and Caron Broadcasting, Inc.,
an Ohio corporation (“Assignee”) and is made pursuant to Section 19 of the Purchase Agreement (hereinafter defined).

 

WHEREAS, Delmarva Educational
Assication, a Florida nonprofit corporation (“Seller”) and Assignor entered into an Asset Purchase Agreement, dated
as of May 18, 2016 (the “Purchase Agreement”), pursuant to which, among other things, Seller and Assignor agreed that
Seller will sell and Assignor will acquire certain assets relating to the radio broadcast FM translator construction permit W222BT,
permitted to Palm Coast, FL, (FCC Facility ID 142973) upon the terms and conditions set forth therein.

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements contained in the Purchase Agreement and this Assignment and Assumption, the
receipt and sufficiency of which are hereby acknowledged, Assignor and Assignee hereby covenant and agree as follows:

 

1.          Assignor
hereby assigns, transfers, and conveys to Assignee all of Assignor’s right, title, and interest in and to the Purchase
Agreement.

 

2.          Assignee
hereby assumes and undertakes to pay, to satisfy, and to discharge the liabilities, obligations, and commitments of Assignor under
the Purchase Agreement from the date hereof.

 

3.          This
Assignment and Assumption is intended to effect an assignment to a wholly owned subsidiary of Assignor in connection with the consummation
of the transactions contemplated by the Purchase Agreement, as permitted by Section 19 thereof, and is made without representation
and warranty except as provided in and by the Purchase Agreement. This Assignment and Assumption is in all respects subject to
the provisions of the Purchase Agreement and is not intended in any way to supersede, to limit, or to qualify any provision of
the Purchase Agreement.

 

4.          Each
of Assignor and, by its acceptance hereof, Assignee covenants and agrees to execute such further documents and instruments and
to take such additional actions as may reasonably be requested by Assignee or Assignor, as the case may be, to vest in Assignee
any and all of the assets, liabilities, obligations, and commitments being transferred hereby and otherwise to effectuate the intent
of this Assignment and Assumption.

 

5.          Unless
otherwise defined herein, all capitalized terms used herein have the meanings ascribed to them in the Purchase Agreement.

 

    	 	Page 1 of 2	 

     

    

 

6.          This
Assignment and Assumption may be signed in one or more counterparts, each of which shall be deemed an original and all of which
together shall constitute one and the same instrument.

 

IN WITNESS WHEREOF, the parties hereto have
caused this Assignment and Assumption to be executed and delivered effective as of the date first written above.

 

	PENNSYLVANIA MEDIA ASSOCIATES, INC.	 
	 	 
	By	 	 
	 	Christopher J. Henderson	 
	 	Sr. Vice President and Secretary	 
	 	 
	CARON BROADCASTING, INC.	 
	 	 
	By 	 	 
	 	Christopher J. Henderson	 
	 	Sr. Vice President and Secretary	 

 

    	 	Page 2 of 2

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