Document:

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                                                                   Exhibit 10.43

                                                                  EXECUTION COPY

                            SHARED SERVICES AGREEMENT

     This Shared Services Agreement ("Agreement") is entered into as of June 1,
1999 by and between Mission Broadcasting of Wichita Falls, Inc., a Delaware
corporation ("Mission"), and Nexstar Broadcasting of Wichita Falls, L.P.
("Nexstar"), a Delaware limited partnership. Mission and Nexstar are referred to
collectively as the "Parties."

     WHEREAS, Mission owns and operates television broadcast stations KJTL(TV)
and KJBO-LP, Wichita Falls, Texas ("KJTL/KJBO-LP"), and owns 100% of the stock
of Mission Broadcasting of Wichita Falls License, Inc., the licensee of
KJTL/KJBO-LP. Television station KFDX-TV, Wichita Falls, Texas ("KFDX") is
licensed to Nexstar.

     WHEREAS, KJTL/KJBO-LP and KFDX are collectively referred to as the
"Stations."

     NOW, THEREFORE, for their mutual benefit and in order to enhance the
respective abilities of Nexstar and Mission to compete with other television and
media outlets serving the Wichita Falls, Texas market, Nexstar and Mission agree
as follows:

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

     2. CERTAIN SERVICES NOT TO BE SHARED.

          (a) Senior Management Personnel. At all times, each Station will have
personnel performing the typical functions of a general manager and a business
manager. Such personnel will (i) be retained solely by the Party which owns and
operates such Station and will report solely to such Party, and (ii) will have
no involvement or responsibility in respect of the operation of the other
Station.

          (b) Programming and Sales. Each Party will maintain for the Station
owned and operated by it separate managerial and other personnel to carry out
the selection and procurement of programming for such Station, and in no event
will the Parties or the Stations share services, personnel, or information
pertaining to such matters, except as set forth in Section 4(f)(i) below. In
addition, the Parties contemplate entering into a joint sales agreement pursuant
to which Nexstar will have the right to sell advertising and commercial time on
the Station.

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

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

          (a) Execution of Promotional Policies. Nexstar personnel will
implement and execute the promotional policy developed by Nexstar personnel for
KFDX from time to time. Subject to direction and control by Mission management
personnel, Nexstar personnel will also implement and execute the promotional
policy for KJTL/KJBO-LP. Such implementation and execution will include such
tasks as graphic design, production and media placement and buying.

          (b) Continuity and Traffic Support. Nexstar personnel will carry out
continuity and other tasks necessary to support management personnel and
functions for KFDX. Subject to direction and control by management personnel of
Mission, Nexstar personnel will also carry out continuity and such other tasks
with respect to KJTL/KJBO-LP.

          (c) Master Control. Master control operators and related employees of
Nexstar may carry out master control functions for KJTL/KJBO-LP subject to the
direction and control of Mission.

          (d) Payable Support. Nexstar personnel will not engage in the payment
of accounts payable of Mission arising under contracts for the license of
programming run or to be run on KJTL/KJBO-LP, the payment of Mission's payroll
with respect to KJTL/KJBO-LP, or other obligations of Mission incurred in the
normal course of business.

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          (e) Transmission Facilities Maintenance. Nexstar personnel will
maintain and repair (as needed) the transmission facilities of KFDX. Subject to
direction and control by Mission management personnel, Nexstar personnel will
also maintain and repair (as needed) the transmission facilities of
KJTL/KJBO-LP.

          (f) Newscast Production.

              (i)   Production and Delivery. Utilizing both KFDX management
personnel and facilities, Nexstar may provide live-feed, fully-staffed and
produced newscasts for broadcast on KJTL/KJBO-LP at such times as Mission may
request from time to time by reasonable advance notice to Nexstar; provided that
such newscasts will not comprise more than 15% (by duration) of the programming
broadcast on KJTL/KJBO-LP during any broadcast day. Nexstar will be responsible
for delivering such newscasts to KJTL/KJBO-LP's broadcast facilities. Mission
shall make available to Nexstar (A) such space in the KJTL/KJBO-LP studio and
facilities as may be reasonably necessary to produce such newscasts, (B) such
non-management-level news personnel as may be necessary to produce such
newscasts, and (C) such technical facilities of KJTL/KJBO-LP as may be necessary
to produce such newscasts and to deliver such newscasts to KJTL/KJBO-LP's
transmission facilities. Nexstar will use reasonable efforts to provide such
newscasts that are of a quality appropriate to KJTL/KJBO-LP's market. Such
newscasts will be produced exclusively for Mission for broadcast on
KJTL/KJBO-LP, but may include non-exclusive videotape, graphics, news stories,
field reports and other material. Mission personnel will determine the title and
format of such newscasts, and such newscasts will have an "on-air appearance" as
if they had been originated by Mission through KJTL/KJBO-LP.

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

              (iii) Editorial Control and Responsibility. Nexstar will use
reasonable efforts to maintain a system of editorial review to ensure the
accuracy, prior to broadcast, of all investigative reports and other stories
prepared by Nexstar personnel and included in the newscasts which Nexstar
provides to Mission. Nexstar will indemnify, defend and hold harmless Mission
from any and all demands, claims, actions or causes of action, losses, damages
and liabilities, costs and expenses, including reasonable attorneys' fees,
incurred by Mission as a result of the violation or breach of any third parties'
rights, or of the FCC's Rules and Regulations, as a result of the provision of
any news content provided by Nexstar or its employees in such newscasts. Mission
will indemnify, defend and hold harmless Nexstar from any and all demands,
claims, actions or causes of action, losses, damages and liabilities, costs and
expenses, including reasonable attorneys' fees, incurred by Nexstar as a result
of the violation or breach of any third parties' rights, or of the FCC's Rules
and Regulations, as a result of the provision of any content within such
newscasts by Mission or its employees, or any variation by Mission or its
employees of any content provided by Nexstar or its employees in

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such newscasts. Each Party will maintain the following types of insurance
coverage for no less than the indicated amounts and will deliver to the other
Party upon request a certificate of insurance showing the following: (A)
comprehensive general liability insurance in an amount of $1,000,000; (B)
worker's compensation and/or disability insurance; and (C)
libel/defamation/First Amendment liability insurance, with a deductible of no
more than $100,000, as to which coverage each Party will name the other party as
an additional insured.

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

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

          (g) Services Fee. In consideration for the services to be provided to
KJTL/KJBO-LP by Nexstar personnel as described in Sections 4(a) through 4(f),
Mission will pay to Nexstar the fee (the "Services Fee") described in this
Section 4(g).

              (i)   Base Amount. Subject to the remaining provisions of this
Section 4(g), the base amount of the Services Fee during any calendar year will
be determined in accordance with Section 4(g)(iii), in the case of calendar year
1999, and will be 110% of the Services Fee during the preceding year (without
regard to any deferral of the Services Fee for such preceding year pursuant to
Section 4(g)(ii)), in the case of each subsequent year.

              (ii)  Deferral. Payment and accrual of the Services Fee in respect
of any calendar year (or partial calendar year, in the case of the calendar
years during which the sharing of services described in Section 4(a) through
4(f) commences and ceases) will be deferred to the extent that the amount of the
Services Fee which otherwise would be payable for such period would exceed
KJTL/KJBO-LP's Available Cash Flow (as that term is defined in Section 4(g)(iv))
for such period; provided that an amount equal to the amount so deferred in
respect of any calendar year or partial calendar year will be added to the base
amount of the Services Fee for the following calendar year or partial calendar
year. In addition, upon a termination of this Agreement pursuant to clause (i)
of Section 7, the entire amount of the Services Fee which has accrued and is
unpaid as of the Cessation Date (as that term is defined in Section 7) will be
waived.

              (iii) Payment Terms. The Services Fee will be payable monthly in
equal installments during each calendar year from and after the month during
which this Agreement is executed, and will be prorated on a daily basis for
calendar year 1999 and the

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calendar year during which the sharing arrangements described in Sections 4(a)
through 4(f) are terminated. These monthly payments will be based upon Mission's
good-faith estimate of the non-deferred amount of the Services Fee for each year
or partial year (based on its good faith estimate of the Available Cash Flow for
that year or partial year), consistent with the principle that such non-deferred
amount of the Services Fee shall be equal to 90% of KJTL/KJBO-LP's Available
Cash Flow for that year or partial year. At the conclusion of each calendar
year, when the actual amount of KJTL/KJBO-LP's Available Cash Flow for that year
or partial year is established, Nexstar will pay to Mission or Mission will pay
to Nexstar, as the case may be, any additional amounts as may be necessary to
give effect to any deferral of Services Fees pursuant to Section 4(g)(ii).

               (iv) Available Cash Flow Defined. For any period, KJTL/KJBO-LP's
"Available Cash Flow" means Mission's broadcast cash flow in respect of
KJTL/KJBO-LP for such period (determined without deduction for the Service Fee),
reduced by the following, without duplication:

                    (A) the aggregate amount of all cash paid by Mission in
respect of reasonable capital expenditures relating to KJTL/KJBO-LP during such
period,

                    (B) the aggregate amount of all cash payments required to be
made by Mission during such period in respect of the principal amount of, and
interest on, indebtedness of Mission for borrowed money incurred in respect of
KJTL/KJBO-LP, and

                    (C) the aggregate amount of all cash payments made by
Mission during such period in respect of federal, state and local taxes, in each
case to the extent not reflected in such broadcast cash flow for such period or
any prior period, and increased or reduced as Mission and Nexstar may reasonably
agree is appropriate in light of the reduction or increase in the non-cash net
working capital of Mission in respect of KJTL/KJBO-LP during such period.

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

     6. UNENFORCEABILITY. If any provision of this Agreement or the application
thereof to any person or circumstances shall be invalid or unenforceable to any
extent, the remainder of this Agreement and the application of such provision to
other persons or circumstances shall not be affected thereby and shall be
enforced to the greatest extent permitted by law, except that if such invalidity
or unenforceability should change the basic economic positions of the Parties,
they shall negotiate in good faith such changes in other terms as shall be
practicable in order to restore them to their prior positions. In the event that
the FCC alters or

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modifies its rules or policies in a fashion which would raise substantial and
material questions as to the validity of any provision of this Agreement, the
Parties shall negotiate in good faith to revise any such provision of this
Agreement in an effort to comply with all applicable FCC Rules and Regulations,
while attempting to preserve the intent of the Parties as embodied in the
provisions of this Agreement. The Parties agree that, upon the request of either
of them, they will join in requesting the view of the staff of the FCC, to the
extent necessary, with respect to the revision of any provision of this
Agreement in accordance with the foregoing. If the Parties are unable to
negotiate a mutually acceptable modified Agreement, then either party may
terminate this Agreement upon written notice to the other. Upon such
termination, Mission shall pay to Nexstar all accrued and unpaid Service Fees
and each Party shall be relieved of any further obligations, one to the other.

     7. TERM OF SHARING ARRANGEMENTS. The term of this Agreement shall commence
on the date of execution of this Agreement. The initial term of this Agreement
is ten (10) years. Unless otherwise terminated by either Party, the term of this
Agreement shall be extended for an additional ten (10) year term. Either Party
may terminate this Agreement at the end of the initial ten year term by six
months prior written notice to the other. Notwithstanding the foregoing, the
sharing arrangements contemplated by this Agreement will terminate (i) upon the
consummation of the purchase and sale of assets of Mission relating to
KJTL/KJBO-LP by Nexstar, or an assignee of Nexstar, under the terms of a certain
Option Agreement (the "Option Agreement") entered into by Mission and an
affiliate of Nexstar (the "Optionee"), or (ii) at Nexstar's option, if the
assets of Mission relating to KJTL/KJBO-LP are sold to a party other than
Optionee (in either case, the date upon which such purchase and sale is
consummated being the "Cessation Date"). Except as provided in Section 4(g)(ii),
no termination of this Agreement, whether pursuant to this Section 7 or
otherwise, will affect Mission's duty to pay any Services Fee accrued, or to
reimburse any cost or expense incurred, prior to the effective date of that
termination.

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

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

        To Mission:   David S. Smith
                      806 S. Cassingham Road
                      Bexley, OH  43209

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

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                      Howard M. Liberman, Esq.
                      Arter & Hadden LLP
                      1801 K Street, NW
                      Suite 400K
                      Washington, DC  20006

         To Nexstar:

                      Nexstar Broadcasting of Wichita Falls, L.P.
                      P.O. Box 4888
                      Wichita Falls, TX  76308
                      Attention: Julie Pruett, Vice President/General Manager

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

                      Nexstar Broadcasting of Wichita Falls, L.P.
                      200 Abington Executive Park, Suite 201
                      Clarks Summit, PA  18411
                      Attention:  Perry Sook, President

                              and

                      John L. Kuehn, Esq.
                      Kirkland & Ellis
                      Citicorp Center
                      153 East 53rd Street
                      New York, NY  10022-4675

     10. ASSIGNMENT; BINDING AGREEMENT. Neither party may assign its rights and
obligations, either in whole or in part, without the prior written consent of
the other; however, such consent shall not be unreasonably withheld. The
covenants, conditions and provisions hereof are and shall be for the exclusive
benefit of the parties hereto and their permitted successors and assigns, and
nothing herein, express or implied, is intended or shall be construed to confer
upon or to give any person or entity other than the parties hereto and their
permitted successors and assigns any right, remedy or claim, legal or equitable,
under or by reason of this Agreement. This Agreement shall be binding upon and
inure to the benefit of the parties and their respective permitted successors
and assigns.

     11. NO STRICT CONSTRUCTION. The language used in this Agreement will be
deemed to be the language chosen by the Parties to express their mutual intent.
In the event an ambiguity or question of intent or interpretation arises, this
Agreement will be construed as if

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drafted jointly by the Parties, and no presumption or burden of proof will arise
favoring or disfavoring any Party by virtue of the authorship of any of the
provisions of this Agreement.

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

     13. AUTHORITY; ENTIRE AGREEMENT. Both Mission and Nexstar represent that
they are legally qualified and able to enter into this Agreement. This Agreement
and the Option Agreement embody the entire agreement between the parties with
respect to the subject matter hereof and thereof, and there are not other
agreements, representations, or understandings, oral or written, between them
with respect thereto.

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

     15. GOVERNING LAW. All questions concerning the construction, validity and
interpretation of this Agreement will be governed by and construed in accordance
with the internal laws of the State of Texas, without giving effect to any
choice of law or conflict of law provision (whether of the State of Texas or any
other jurisdiction) that would cause the application of the laws of any
jurisdiction other than the State of Texas. In furtherance of the foregoing, the
internal law of the State of Texas will control the interpretation and
construction of this Agreement (and all schedules and exhibits hereto), even if
under that jurisdiction's choice of law or conflict of law analysis, the
substantive law of some other jurisdiction would ordinarily apply.

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

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

     18. OTHER DEFINITIONAL PROVISIONS. The terms "hereof," "herein" and
"hereunder" and terms of similar import will refer to this Agreement as a whole
and not to any particular provision of this Agreement. Section references
contained in this Agreement are references to Sections in this Agreement, unless
otherwise specified. Each defined term used in

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this Agreement has a comparable meaning when used in its plural or singular
form. Each gender-specific term used in this Agreement has a comparable meaning
whether used in a masculine, feminine or gender-neutral form. Whenever the term
"including" is used in this Agreement (whether or not that term is followed by
the phrase "but not limited to" or "without limitation" or words of similar
effect) in connection with a listing of items within a particular
classification, that listing will be interpreted to be illustrative only and
will not be interpreted as a limitation on, or an exclusive listing of, the
items within that classification.

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                                SIGNATURE PAGE TO
                            SHARED SERVICES AGREEMENT

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

                             MISSION BROADCASTING OF WICHITA FALLS, INC.

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

                             NEXSTAR BROADCASTING OF WICHITA FALLS, L.P.

                             By:  NEXSTAR BROADCASTING OF WICHITA FALLS GP,
                                  INC., its general partner

                                  By:  /s/  Perry A. Sook
                                       -------------------
                                       Name:   Perry A. Sook
                                       Title:  President<PAGE>
                                                                   Exhibit 10.44

                                                                  EXECUTION COPY

                    AGREEMENT FOR THE SALE OF COMMERCIAL TIME

         This Agreement for the Sale of Commercial Time ("Agreement") is entered
into as of June 1, 1999 by and between Mission Broadcasting of Wichita Falls,
Inc., a Delaware corporation ("Mission"), and Nexstar Broadcasting of Wichita
Falls, L.P., a Delaware limited partnership ("Nexstar"). Nexstar and Mission are
referred to collectively as the "Parties."

     WHEREAS, Mission owns and operates television broadcast stations KJTL and
KJBO-LP, Wichita Falls, Texas ("the Stations"), and owns 100% of the stock of
Mission Broadcasting of Wichita Falls License, Inc. ("Mission Licensee"), the
licensee of the Stations pursuant to licenses issued by the Federal
Communications Commission ("FCC"); and Mission is engaged in the business of
television broadcasting and has available advertising time on the Stations;

     WHEREAS, Nexstar desires to purchase advertising time on the Stations.

     NOW, THEREFORE, for and in consideration of the mutual covenants herein
contained, the parties hereto agree as follows:

     1. Term of Agreement. The term of this Agreement shall commence on the date
of execution of this Agreement. The initial term of this Agreement is ten (10)
years. Unless otherwise terminated by either Party, the term of this Agreement
shall be extended for an additional ten (10) year term. Either Party may
terminate this Agreement at the end of the initial ten year term by six months
prior written notice to the other. Notwithstanding the foregoing, the Agreement
will terminate (i) upon the consummation of the purchase and sale of assets of
Mission relating to the Stations by Nexstar, or an assignee of Nexstar, under
the terms of a certain Option Agreement (the "Option Agreement") entered into by
Mission and an affiliate of Nexstar (the "Optionee"), or (ii) at Nexstar's
option, if the assets of Mission relating to the Stations are sold to a party
other than Optionee.

     2. Advertising Time. Mission agrees that during the term of this Agreement,
it will sell to Nexstar, and will permit Nexstar to resell to advertisers, all
of the time available for commercial announcements on the Stations. All
advertising announcements furnished by Nexstar shall comply with applicable
federal, state, and local regulations and pertinent governmental policies,
including, but not limited to, lottery restrictions, prohibitions on obscenity
and indecency, deceptive advertising, false representations or deception of any
kind, and political broadcasting rules. Nexstar shall notify Mission in advance
of the broadcast of any material which promotes or opposes any candidate for
public office or any issue to appear on a ballot or takes a position on a
controversial issue of public importance. No material constituting a Personal
Attack within the meaning of the FCC's rules and regulations or which is
defamatory, violates any right of privacy, infringes on any intellectual
property right of another party, or is not in the English language will be
accepted for broadcast. Nexstar shall furnish Mission with all material required
to be made available for public inspection regarding requests for time by
political candidates or the broadcast of controversial issue advertising,
including information regarding receipt of any request by or on behalf of a
candidate for time and the disposition thereof (whether or not time was
furnished and, if so, the terms and conditions thereof), and the names of
officers and directors of any sponsor of controversial issue advertising. All
material furnished by Nexstar for broadcast on the Stations shall include any
and all sponsorship

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identification announcements as required by Section 317 of the Communications
Act of 1934, as amended, and the FCC's rules and regulations, and Nexstar shall
undertake in good faith to determine each instance where such announcements are
required. To assist Nexstar in its advertising time sales efforts, Mission
shall, during the term of this Agreement, maintain the same television network
affiliation that is in effect on this date, unless ninety (90) days advance
written notice of an affiliation change is given to Nexstar.

     3. Payments. During the term of this Agreement, Nexstar shall pay Mission
the payments set forth on Schedule A hereto.

     4. Revenues. Nexstar shall collect on behalf of Mission all of Mission's
accounts receivable pertaining to the Stations in existence as of the first day
of the term of this Agreement (the "Accounts Receivable"). Nexstar shall be
entitled to all revenues attributable to commercial advertisements sold by
Nexstar, and all other advertising time revenue received, in each case with
respect to commercial advertisements broadcast during the term hereof.
Notwithstanding anything herein to the contrary, at the request of an
advertiser, Mission may set a reasonable rate for time on the Stations and sell
time in accordance with such rates for the account of Nexstar for broadcast
during the term of this Agreement.

     5. Mission's Broadcast Obligations. During the term of this Agreement,
Nexstar shall assume, and undertake the administration and servicing of all of
Mission's contracts and other agreements which provide for the sale and
broadcast of advertising and related activities during the term of this
Agreement. All revenues arising from such contracts and agreements for
advertising broadcast during the term of this Agreement shall belong to Nexstar,
even though the time was sold by Mission; and all commissions to employees,
agencies, or representatives payable on account of advertising broadcast during
the term of the Agreement shall be paid by Nexstar. Mission shall remain
obligated to pay all fees, commissions or other amounts due under Mission's
contracts and other agreements, including but not limited to, national sales
representative fees, that arise prior to the first day of the term of this
Agreement, and that are reimbursed by Nexstar pursuant to Section 4 above.

     6. Personnel. Nexstar shall employ and be responsible for the salaries,
benefits, employer taxes, and related costs of employment of a sales staff for
the sale of the advertising time and for the collection of accounts receivable
with respect to advertising sold by Nexstar pursuant to this Agreement. Mission
shall retain sufficient staff to oversee those aspects of its business and
financial matters not specifically delegated to Nexstar hereunder.

     7. Interruption of Normal Operations. If either of the Stations suffers
loss or damage of any nature to its transmission facilities which results in the
interruption of service or the inability to operate full time at maximum
authorized facilities, Mission shall immediately

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notify Nexstar and shall undertake such repairs as are necessary to restore the
full-time operation of the Station. If the Station does not resume operation
with at least 80% of its authorized signal coverage within one hundred twenty
(120) hours, Mission shall so notify Nexstar. Upon receipt of such notification,
Nexstar may, at its option, terminate this Agreement. In such event, Nexstar
shall be entitled to a pro rata refund of the payments made pursuant to Section
3 hereof.

     8. Operation of the Stations. During the term of this Agreement, Mission
shall continue to maintain full control over the operations of the Station,
including programming, editorial policies, employees of Mission, and
Mission-controlled facilities. Mission is responsible for the Stations'
compliance with the Communications Act of 1934, as amended, FCC rules,
regulations, and policies, and all other applicable laws. Mission shall be
solely responsible for and pay in a timely manner all expenses relating to the
operation of the Stations other than for the sale of advertising time, including
but not limited to, maintenance of the studios and transmitting facilities and
all taxes and other costs incident thereto; payments due under any leases,
contracts and agreements; music performance license fees; and all utility costs
relating to the operation of the Stations. Mission shall also maintain insurance
covering the Stations' transmission facilities. Mission may, in its sole
discretion, decline to accept advertising sold by Nexstar, in the event that it
reasonably believes that the broadcast of such advertising would violate
applicable laws or regulations, would damage Mission's reputation in the
community, or would otherwise be contrary to the public interest, or preempt any
of the commercial time sold by Nexstar in order to present program material of
pressing public interest or concern. Mission shall promptly notify Nexstar of
any such rejection or rescheduling of advertising and shall cooperate with
Nexstar in efforts to fulfill Nexstar's commitments to advertisers. In the event
Nexstar sustains any liability or loss of revenue as a result of the rejection
or rescheduling by Mission of any advertising for any reason other than as set
forth above, Mission shall promptly indemnify Nexstar for any and all such
losses. Nexstar shall not enter into any contract, without Mission's approval,
that would be violated if Mission reasonably exercised its foregoing rights.

     9. Advertising Rates. The rates for advertising sold by Nexstar shall be
set by Nexstar, provided, however, that Nexstar shall comply with all applicable
statutes and regulations regarding access to airtime and rates charged for
political advertising and shall indemnify Mission against any liability incurred
by Mission as a result of Nexstar's failure to comply with such statutes and
regulations.

     10. Delivery of Material for Broadcast. All advertising material furnished
by Nexstar for broadcast on either of the Stations shall be delivered to the
Station on tape cartridges, or other mutually agreeable method, in a format to
be agreed upon by Nexstar and Mission, in a form ready for broadcast on the
Station's existing playback equipment, and with quality suitable for television
broadcast. Mission shall not be required to provide production services or to
copy, reformat, or otherwise manipulate material furnished by Nexstar other than
inserting tape cartridges into machinery for broadcast.

                                      -3-

<PAGE>

     11. Access to Station Premises. Nexstar shall have access to any available
space at the studio and offices of the Stations for purposes of selling time and
producing commercial announcements to the extent reasonably necessary or
appropriate for Nexstar to exercise its rights and perform its obligations under
this Agreement. When on the Station premises, Nexstar's personnel shall be
subject to the direction and control of Mission's management personnel and shall
not act contrary to the terms of any lease for the premises. If Nexstar utilizes
telephone lines other than those of Mission in connection with its sale of time
on the Station, it shall not answer those lines in a way that implies that the
lines are those of Mission; but Nexstar may use the Stations' call letters in
promotional literature and in answering the telephone (e.g., "KJTL Sales").

     12. Billing. Nexstar shall keep written records relating to the sale of
commercial advertising consistent with Nexstar's past practices at its existing
station.

     13. Mission's Representations and Warranties.

          (a) Mission represents and warrants as follows:

               (i) Mission License holds all licenses, permits and
authorizations necessary for the operation of the Stations as presently
conducted. Such licenses, permits and authorizations currently are in full force
and effect, and Mission will undertake in good faith to keep them in full force
and effect throughout the term of this Agreement.

               (ii) There is not now pending, nor to Mission's best knowledge is
there threatened, any action by the FCC or any other party to revoke, cancel,
suspend, refuse to renew or otherwise modify any of such licenses, permits or
authorizations.

               (iii) Mission is not in material violation of any statute,
ordinance, rule, regulation, policy, order, or decree of any federal, state, or
local entity, court, or authority having jurisdiction over it, the Stations, or
over any part of their operations or assets, which default or violation would
have a materially adverse effect upon Mission, its assets, the Stations, or upon
Mission's ability to perform this Agreement.

               (iv) During the term of this Agreement, Mission shall not take
any action or omit to take any action which would put it in material violation
of or in default under any agreement to which Mission or its owners is a party,
which default or violation would have a material adverse impact upon Mission,
its assets, or the Stations or upon Mission's ability to perform this Agreement.

               (v) All reports and applications required to be filed with the
FCC or any other governmental body have been, and during the term of this
Agreement will be filed in a timely and complete manner by Mission. Mission
currently maintains and will continue to maintain the Stations' facilities in
accord with good engineering practice and in compliance in all material respects
with the engineering requirements set forth in the Stations' FCC licenses,

                                      -4-

<PAGE>

including broadcasting at substantially maximum authorized power (except at such
time that reduction of power is required for routine or emergency maintenance).

               (vi) Mission currently has, and throughout the term of this
Agreement, will maintain, good and marketable title to all assets and properties
used in the operation of the Stations.

               (vii) Mission may, during the term of this Agreement, dispose of
any of its assets or properties, so long as: (1) such action does not adversely
affect Mission's ability to perform its obligations hereunder; and (2) such
action does not abrogate any of Nexstar's rights hereunder.

          (b) Nexstar and Mission each represent and warrant to the other that
it has the power and authority to enter into this Agreement and to engage in the
transactions contemplated by this Agreement. Each of Mission and Nexstar is a
corporation which is in good standing in the state of its formation and
qualified to do business in the State of Texas. The signatures appearing for
Nexstar and Mission, respectively, at the end of this Agreement have been
affixed pursuant to such specific authority as, under applicable law, is
required to bind them. Neither the execution, delivery, nor performance by
Mission or Nexstar of this Agreement conflicts with, results in a breach of, or
constitutes a default or ground for termination under any agreement or judicial
or governmental order or decree to which Mission or Nexstar, respectively, is a
party or by which it is bound.

     14. Events of Default. The following shall, after the expiration of the
applicable cure periods, constitute Events of Default under the Agreement:

          (a) Non-Payment. Nexstar's failure to remit to Mission any payment
described in Section 3 above in a timely manner.

          (b) Default in Covenants. The default by either party hereto in the
material observance or performance of any material covenant, condition, or
agreement contained herein, or if any material misrepresentation or warranty
herein made by either party to the other shall prove to have been false or
misleading as of the time made.

     15. Cure Period and Termination upon Default. An Event of Default shall not
be deemed to have occurred until ten (10) business days after the nondefaulting
party has provided the defaulting party with written notice specifying the event
or events which if not cured would constitute an Event of Default and specifying
the actions necessary to cure within such ten day period. The notice period
provided in this Section shall not preclude Mission from at any time preempting
or refusing to broadcast any advertising furnished by Nexstar. If Nexstar has
defaulted in the performance of its obligations and has failed to cure such
default within the applicable time period, Mission shall be under no further
obligation to make commercial time available to Nexstar, and all amounts then
due and payable to Mission shall immediately be paid to Mission.

                                      -5-

<PAGE>

     16. Other Agreements. Mission will not enter into any other commercial time
sales (except as permitted by Section 4 hereof), time brokerage, local marketing
or similar agreement for the Stations with any third party during the term of
this Agreement. Mission will also not purchase or accept for broadcast on the
Stations any programming that includes commercial advertising sold by any third
party without Nexstar's consent, excluding national advertising time sold in
network programming and nationally syndicated barter programming aired on the
Stations.

     17. Liabilities after Termination. After the expiration or termination of
this Agreement for any reason other than an assignment of the Stations' assets
to Nexstar or any assignee of Nexstar, (i) Mission shall be responsible for
broadcasting such advertising on the Stations as may be required under
advertising contracts entered into by Nexstar during the term of this Agreement
and (ii) Mission shall be entitled to any revenues for advertising broadcast
after termination of this Agreement.

     18. [Reserved]

     19. Indemnification; Insurance. Nexstar shall indemnify and hold Mission
and its officers, directors, stockholders, agents, and employees harmless
against any and all liability for libel, slander, illegal competition or trade
practice, infringement of trademarks, trade names, or program titles, violation
of rights of privacy, and infringement of copyrights and proprietary rights
resulting from or relating to the advertising or other material furnished by
Nexstar for broadcast on the Stations, along with any fine or forfeiture imposed
by the FCC because of the content of material furnished by Nexstar or any
conduct of Nexstar. Mission shall indemnify and hold Nexstar and its officers,
directors, members, agents, and employees harmless from any failure by Mission
to broadcast advertising material furnished by Nexstar expect as permitted by
Section 8 of this Agreement. Indemnification shall include all liability, costs,
and expenses, including counsel fees (at trial and on appeal). The
indemnification obligations under this Section shall survive any termination of
this Agreement. The obligation of each party to indemnify is conditioned on the
receipt of notice from the party making the claim for indemnification in time to
allow the defending party to timely defend against the claim and upon the
reasonable cooperation of the claiming party in defending against the claim. The
party responsible for indemnification shall select counsel and control the
defense, subject to the indemnified party's reasonable approval, provided,
however, that no claim may be settled by an indemnifying party without the
consent of the indemnified party, and provided further, that if an indemnifying
party and a claimant agree on a settlement and the indemnified party rejects the
settlement unreasonably, the indemnifying party's liability will be limited to
the amounts the claimant agreed to accept in settlement. Nexstar and Mission
shall each carry (A) comprehensive general liability insurance with reputable
companies covering their activities under this Agreement, in an amount not less
than One Million Dollars ($1,000,000.00); (B) worker's compensation and/or
disability insurance; and (C) libel/defamation/First Amendment liability
insurance, with a deductible of no more than $100,000. Each Party will name the
other party as an additional insured on these policies.

                                      -6-

<PAGE>

     20. No Partnership or Joint Venture. The Agreement is not intended to be,
and shall not be construed as, an agreement to form a partnership, agency
relationship, or a joint venture between the parties. Except as otherwise
specifically provided in the Agreement, neither party shall be authorized to act
as an agent of or otherwise to represent the other party.

     21. Successors and Assigns. Neither party may assign its rights and
obligations under this Agreement, either in whole or in part, without the prior
written consent of the other; however, such consent shall not be unreasonably
withheld. The covenants, conditions and provisions hereof are and shall be for
the exclusive benefit of the parties hereto and their permitted successors and
assigns, and nothing herein, express or implied, is intended or shall be
construed to confer upon or to give any person or entity other than the parties
hereto and their permitted successors and assigns any right, remedy or claim,
legal or equitable, under or by reason of this Agreement. This Agreement shall
be binding upon and inure to the benefit of the parties and their respective
permitted successors and assigns.

     22. Authority; Construction; Entire Agreement. Both Mission and Nexstar
represent that they are legally qualified and able to enter into this Agreement,
which shall be construed in accordance with the laws of the State of Texas
without regard to principles of conflict of laws. This Agreement, the Shared
Services Agreement, and the Option Agreement embody the entire agreement between
the parties with respect to the subject matter hereof and thereof, and there are
not other agreements, representations, or understandings, oral or written,
between them with respect thereto.

     23. Modification and Waiver. No modification or waiver of any provision of
the Agreement shall be effective unless in writing and signed by the party
against whom such modification or waiver is asserted, and no failure to exercise
any right, power, or privilege hereunder shall operate to restrict the exercise
of the same right, power, or privilege upon any other occasion nor to restrict
the exercise of any other right, power, or privilege upon the same or any other
occasion. The rights, powers, privileges, and remedies of the parties hereto are
cumulative and are not exclusive of any rights, powers, privileges, or remedies
which they may have at law, in equity, by statute, under this Agreement, or
otherwise.

     24. Unenforceability. If any provision of this Agreement or the application
thereof to any person or circumstances shall be invalid or unenforceable to any
extent, the remainder of this Agreement and the application of such provision to
other persons or circumstances shall not be affected thereby and shall be
enforced to the greatest extent permitted by law, except that if such invalidity
or unenforceability should change the basic economic positions of the Parties,
they shall negotiate in good faith such changes in other terms as shall be
practicable in order to restore them to their prior positions. In the event that
the FCC alters or modifies its rules or policies in a fashion which would raise
substantial and material questions as to the validity of any provision of this
Agreement, the Parties shall negotiate in good faith to revise any such
provision of this Agreement in an effort to comply with all applicable FCC rules
and policies, while attempting to preserve the intent of the Parties as embodied
in the provisions of this Agreement. The Parties agree that, upon the request of
either of them, they will join in requesting the view of

                                      -7-

<PAGE>

the staff of the FCC, to the extent necessary, with respect to the revision of
any provision of this Agreement in accordance with the foregoing. If the Parties
are unable to negotiate a mutually acceptable modified Agreement, then either
party may terminate this Agreement upon written notice to the other, and each
Party shall be relieved of any further obligations, one to the other.

     25. Notices. Any notice required hereunder shall be in writing and any
payment, notice, or other communication shall be deemed given when delivered
personally or, in the case of communications other than payments, delivered by
facsimile as follows:

     To Mission:  David S. Smith
                  806 S. Cassingham Road
                  Bexley, Ohio  43209

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

                  Howard M. Liberman, Esq.
                  Arter & Hadden LLP
                  1801 K Street, NW
                  Suite 400K
                  Washington, DC  20006

     To Nexstar:  Nexstar Broadcasting of Wichita Falls, L.P.
                  P.O. Box 4888
                  Wichita Falls, TX  76308
                  Attention: Julie Pruett, Vice President/General Manager

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

                  Nexstar Broadcasting of Wichita Falls, L.P.
                  200 Abington Executive Park, Suite 201
                  Clarks Summit, PA  18411
                  Attention:  Perry Sook, President

                          and

                  John L. Kuehn, Esq.
                  Kirkland & Ellis
                  Citicorp Center
                  153 East 53rd Street
                  New York, NY  10022-4675

     26. Counterparts. This Agreement may be executed in counterparts, each of
which shall be deemed an original and all of which together shall constitute one
and the same instrument.

                                      -8-

<PAGE>

     27. Headings. The headings are for convenience only and will not control or
affect the meaning or construction of the provisions of this Agreement.

     28. Schedules. Any schedules attached hereto are an integral part of this
Agreement with the same force and effect as if set forth in full in the text of
the Agreement.

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

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                      -9-

<PAGE>

                                SIGNATURE PAGE TO
                    AGREEMENT FOR THE SALE OF COMMERCIAL TIME

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

                     MISSION BROADCASTING OF WICHITA FALLS, INC.

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

                     NEXSTAR BROADCASTING OF WICHITA FALLS, L.P.

                     By:     NEXSTAR BROADCASTING OF WICHITA FALLS GP,
                             INC., its general partner

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

<PAGE>

                                   SCHEDULE A

     Nexstar will pay to Mission the sum of One Hundred Thousand Dollars
($100,000) per month, subject to an equitable adjustment reasonably acceptable
to both parties to assure that the amount of any such monthly payment shall be
equal to Mission's Expenses (as defined below) for such month (the "Equitable
Adjustment"). Except for the Equitable Adjustment, if any, which shall be paid
by the first of the following month, all payments hereunder shall be payable in
advance on or before the first calendar day of such month. For purposes of this
Section, the term "Expenses" shall include reasonable and prudent operating
costs associated with the Stations as may be incurred by Mission in the ordinary
course of business consistent with past practice and debt service, plus $10,000
per month; or as may be required to be paid by Mission under FCC rules and
policies.

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