Document:

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                                                                     Exhibit 4.1

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                                    INDENTURE

                            DATED AS OF MAY 12, 2003

                                      AMONG

                     LIN TELEVISION CORPORATION, AS ISSUER,

                                       AND

                           THE GUARANTORS NAMED HEREIN

                                       AND

                        THE BANK OF NEW YORK, AS TRUSTEE

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

                                  $200,000,000

               6 1/2% SENIOR SUBORDINATED NOTES DUE 2013, SERIES A
               6 1/2% SENIOR SUBORDINATED NOTES DUE 2013, SERIES B

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                              CROSS-REFERENCE TABLE

<TABLE>
<CAPTION>
TRUST INDENTURE                                                                             INDENTURE
  ACT SECTION                                                                                SECTION
----------------                                                                            ---------
<S>                                                                                         <C>
Section 310(a)(1)......................................................................     8.10
           (a)(2)......................................................................     8.10
           (a)(3)......................................................................     N.A.
           (a)(4)......................................................................     N.A.
           (a)(5)......................................................................     8.08, 8.10
           (b).........................................................................     8.08; 8.10; 13.02
           (c).........................................................................     N.A.
Section 311(a).........................................................................     8.11
           (b).........................................................................     8.11
           (c).........................................................................     N.A.
Section 312(a).........................................................................     2.05
           (b).........................................................................     13.03
           (c).........................................................................     13.03
Section 313(a).........................................................................     8.06
           (b)(1)......................................................................     N.A.
           (b)(2)......................................................................     8.06
           (c).........................................................................     8.06; 13.02
           (d).........................................................................     8.06
Section 314(a).........................................................................     4.11; 4.12, 13.02
           (b).........................................................................     N.A.
           (c)(1)......................................................................     13.04
           (c)(2)......................................................................     13.04
           (c)(3)......................................................................     N.A.
           (d).........................................................................     N.A.
           (e).........................................................................     13.05
           (f).........................................................................     N.A.
Section 315(a).........................................................................     8.01(b)
           (b).........................................................................     8.05; 13.02
           (c).........................................................................     8.01(a)
           (d).........................................................................     8.01(c)
           (e).........................................................................     6.11
Section 316(a)(last sentence)..........................................................     2.09
           (a)(1)(A)...................................................................     6.05
           (a)(1)(B)...................................................................     6.04
           (a)(2)......................................................................     N.A.
           (b).........................................................................     6.07
           (c).........................................................................     10.04
Section 317(a)(1)......................................................................     6.08
           (a)(2)......................................................................     6.09
           (b).........................................................................     2.04
Section 318(a).........................................................................     13.01
</TABLE>

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N.A. means Not Applicable.

NOTE: This Cross-Reference Table shall not, for any purpose, be deemed to be a
part of the Indenture.

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                                TABLE OF CONTENTS

<TABLE>
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              ARTICLE ONE DEFINITIONS AND INCORPORATION BY REFERENCE

SECTION 1.01. Definitions................................................................................     1
SECTION 1.02. Incorporation by Reference of Trust Indenture Act..........................................    16
SECTION 1.03. Rules of Construction......................................................................    17

                           ARTICLE TWO THE SECURITIES

SECTION 2.01. Form and Dating............................................................................    17
SECTION 2.02. Execution and Authentication...............................................................    18
SECTION 2.03. Registrar and Paying Agent.................................................................    19
SECTION 2.04. Paying Agent To Hold Assets in Trust.......................................................    19
SECTION 2.05. Holder Lists...............................................................................    19
SECTION 2.06. Transfer and Exchange......................................................................    19
SECTION 2.07. Replacement Securities.....................................................................    20
SECTION 2.08. Outstanding Securities.....................................................................    20
SECTION 2.09. Treasury Securities........................................................................    21
SECTION 2.10. Temporary Securities.......................................................................    21
SECTION 2.11. Cancellation...............................................................................    21
SECTION 2.12. Defaulted Interest.........................................................................    21
SECTION 2.13. CUSIP Number...............................................................................    22
SECTION 2.14. Deposit of Moneys..........................................................................    22
SECTION 2.15. Book-Entry Provisions for Global Securities................................................    22
SECTION 2.16. Registration of Transfers and Exchanges....................................................    23
SECTION 2.17. Issuance of Additional Securities..........................................................    26

                            ARTICLE THREE REDEMPTION

SECTION 3.01. Notices to Trustee.........................................................................    27
SECTION 3.02. Selection of Securities To Be Redeemed.....................................................    27
SECTION 3.03. Notice of Redemption.......................................................................    28
SECTION 3.04. Effect of Notice of Redemption.............................................................    28
SECTION 3.05. Deposit of Redemption Price................................................................    29
SECTION 3.06. Securities Redeemed in Part................................................................    29

                             ARTICLE FOUR COVENANTS

SECTION 4.01. Payment of Securities......................................................................    29
SECTION 4.02. Maintenance of Office or Agency............................................................    29
SECTION 4.03. Limitation on Transactions with Affiliates.................................................    30
SECTION 4.04. Limitation on Incurrence of Additional Indebtedness and Issuance of Capital
                   Stock.................................................................................    30
SECTION 4.05. Limitation on Layering.....................................................................    30
SECTION 4.06. Payments for Consents......................................................................    31
SECTION 4.07. Limitation on Investment Company Status....................................................    31
SECTION 4.08. Limitation on Asset Sales..................................................................    31
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SECTION 4.09. Limitation on Asset Swaps..................................................................    32
SECTION 4.10. Limitation on Restricted Payments..........................................................    32
SECTION 4.11. Notice of Defaults.........................................................................    34
SECTION 4.12. Reports....................................................................................    34
SECTION 4.13. Limitations on Dividend and Other Payment Restrictions Affecting Restricted
                      Subsidiaries.......................................................................    34
SECTION 4.14. Guarantees by Restricted Subsidiaries......................................................    35
SECTION 4.15. Change of Control..........................................................................    35
SECTION 4.16. Limitation on Liens........................................................................    37
SECTION 4.17. Compliance Certificate.....................................................................    38
SECTION 4.18. Corporate Existence........................................................................    38
SECTION 4.19. Maintenance of Properties and Insurance....................................................    38
SECTION 4.20. Payment of Taxes and Other Claims..........................................................    38
SECTION 4.21. Waiver of Stay, Extension or Usury Laws....................................................    39

                   ARTICLE FIVE MERGERS; SUCCESSOR CORPORATION

SECTION 5.01. Mergers, Sale of Assets, etc...............................................................    39
SECTION 5.02. Successor Corporation Substituted..........................................................    40

                        ARTICLE SIX DEFAULT AND REMEDIES

SECTION 6.01. Events of Default..........................................................................    40
SECTION 6.02. Acceleration...............................................................................    41
SECTION 6.03. Other Remedies.............................................................................    42
SECTION 6.04. Waiver of Past Default.....................................................................    42
SECTION 6.05. Control by Majority........................................................................    43
SECTION 6.06. Limitation on Suits........................................................................    43
SECTION 6.07. Rights of Holders To Receive Payment.......................................................    43
SECTION 6.08. Collection Suit by Trustee.................................................................    43
SECTION 6.09. Trustee May File Proofs of Claim...........................................................    44
SECTION 6.10. Priorities.................................................................................    44
SECTION 6.11. Undertaking for Costs......................................................................    44

                    ARTICLE SEVEN SUBORDINATION OF SECURITIES

SECTION 7.01. Agreement To Subordinate...................................................................    45
SECTION 7.02. Liquidation, Dissolution, Bankruptcy.......................................................    45
SECTION 7.03. Default on Senior Indebtedness.............................................................    45
SECTION 7.04. Acceleration of Payment of Securities......................................................    46
SECTION 7.05. When Distribution Must Be Paid Over........................................................    47
SECTION 7.06. Subrogation................................................................................    47
SECTION 7.07. Relative Rights............................................................................    47
SECTION 7.08. Subordination May Not Be Impaired by Company...............................................    47
SECTION 7.09. Rights of Trustee and Paying Agent.........................................................    47
SECTION 7.10. Distribution or Notice to Representative...................................................    48
SECTION 7.11. Article Seven Not To Prevent Events of Default or Limit Right To Accelerate................    48
SECTION 7.12. Trust Moneys Not Subordinated..............................................................    48
SECTION 7.13. Trustee Entitled To Rely...................................................................    48
SECTION 7.14. Trustee To Effectuate Subordination........................................................    48
SECTION 7.15. Trustee Not Fiduciary for Holders of Senior Indebtedness...................................    49
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SECTION 7.16. Reliance by Holders of Senior Indebtedness on Subordination Provisions.....................    49

                              ARTICLE EIGHT TRUSTEE

SECTION 8.01. Duties of Trustee..........................................................................    49
SECTION 8.02. Rights of Trustee..........................................................................    50
SECTION 8.03. Individual Rights of Trustee...............................................................    51
SECTION 8.04. Trustee's Disclaimer.......................................................................    51
SECTION 8.05. Notice of Defaults.........................................................................    51
SECTION 8.06. Reports by Trustee to Holders..............................................................    52
SECTION 8.07. Compensation and Indemnity.................................................................    52
SECTION 8.08. Replacement of Trustee.....................................................................    53
SECTION 8.09. Successor Trustee by Merger, etc...........................................................    54
SECTION 8.10. Eligibility; Disqualification..............................................................    54
SECTION 8.11. Preferential Collection of Claims Against the Company......................................    54

                 ARTICLE NINE DISCHARGE OF INDENTURE; DEFEASANCE

SECTION 9.01. Termination of the Company's Obligations...................................................    54
SECTION 9.02. Legal Defeasance and Covenant Defeasance...................................................    55
SECTION 9.03. Conditions to Legal Defeasance or Covenant Defeasance......................................    56
SECTION 9.04. Application of Trust Money; Trustee Acknowledgment and Indemnity...........................    57
SECTION 9.05. Repayment to Company.......................................................................    57
SECTION 9.06. Reinstatement..............................................................................    57

                 ARTICLE TEN AMENDMENTS, SUPPLEMENTS AND WAIVERS

SECTION 10.01. Without Consent of Holders................................................................    58
SECTION 10.02. With Consent of Holders...................................................................    58
SECTION 10.03. Compliance with Trust Indenture Act.......................................................    59
SECTION 10.04. Record Date for Consents and Effect of Consents...........................................    60
SECTION 10.05. Notation on or Exchange of Securities.....................................................    60
SECTION 10.06. Trustee To Sign Amendments, etc...........................................................    60

                            ARTICLE ELEVEN GUARANTEES

SECTION 11.01. Unconditional Guarantee...................................................................    60
SECTION 11.02. Severability..............................................................................    61
SECTION 11.03. Release of a Guarantor....................................................................    61
SECTION 11.04. Limitation of Guarantor's Liability.......................................................    62
SECTION 11.05. Contribution..............................................................................    62
SECTION 11.06. Execution of Guarantee....................................................................    62
SECTION 11.07. Subordination of Subrogation and Other Rights.............................................    62

                    ARTICLE TWELVE SUBORDINATION OF GUARANTEE

SECTION 12.01. Agreement To Subordinate..................................................................    63
SECTION 12.02. Liquidation, Dissolution, Bankruptcy......................................................    63
SECTION 12.03. Default on Guarantor Senior Indebtedness..................................................    63
SECTION 12.04. Acceleration of Payment of Securities.....................................................    64
SECTION 12.05. When Distribution Must Be Paid Over.......................................................    64
</TABLE>

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<S>                                                                                                         <C>
SECTION 12.06. Subrogation...............................................................................    64
SECTION 12.07. Relative Rights...........................................................................    65
SECTION 12.08. Subordination May Not Be Impaired by Guarantor............................................    65
SECTION 12.09. Rights of Trustee and Paying Agent........................................................    65
SECTION 12.10. Distribution or Notice to Representative..................................................    65
SECTION 12.11. Article Twelve Not To Prevent Events of Default or Limit Right To
                    Accelerate...........................................................................    65
SECTION 12.12. Trust Moneys Not Subordinated.............................................................    66
SECTION 12.13. Trustee Entitled To Rely..................................................................    66
SECTION 12.14. Trustee To Effectuate Subordination.......................................................    66
SECTION 12.15. Trustee Not Fiduciary for Holders of Guarantor Senior Indebtedness........................    66
SECTION 12.16. Reliance by Holders of Guarantor Senior Indebtedness on Subordination
                    Provisions...........................................................................    67

                         ARTICLE THIRTEEN MISCELLANEOUS

SECTION 13.01. Trust Indenture Act Controls..............................................................    67
SECTION 13.02. Notices...................................................................................    67
SECTION 13.03. Communications by Holders with Other Holders..............................................    68
SECTION 13.04. Certificate and Opinion as to Conditions Precedent........................................    68
SECTION 13.05. Statements Required in Certificate........................................................    69
SECTION 13.06. Rules by Trustee, Paying Agent, Registrar.................................................    69
SECTION 13.07. Governing Law.............................................................................    69
SECTION 13.08. No Recourse Against Others................................................................    69
SECTION 13.09. Successors................................................................................    69
SECTION 13.10. Counterpart Originals.....................................................................    70
SECTION 13.11. Severability..............................................................................    70
SECTION 13.12. No Adverse Interpretation of Other Agreements.............................................    70
SECTION 13.13. Legal Holidays............................................................................    70

SIGNATURES...............................................................................................   S-1

EXHIBIT A      Form of Series A Security.................................................................   A-1
EXHIBIT B      Form of Series B Security.................................................................   B-1
EXHIBIT C      Form of Legend for Global Securities......................................................   C-1
EXHIBIT D      Form of Transfer Certificate..............................................................   D-1
EXHIBIT E      Form of Transfer Certificate for Institutional Accredited Investors.......................   E-1
EXHIBIT F      Form of Transfer Certificate for Regulation S Transfers...................................   F-1
</TABLE>

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NOTE: This Table of Contents shall not, for any purpose, be deemed to be a part
of this Indenture.

                                      -iv-

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                  INDENTURE dated as of May 12, 2003, among LIN TELEVISION
CORPORATION, a Delaware corporation (the "Company"), the Guarantors named
herein, and THE BANK OF NEW YORK, as trustee (the "Trustee").

                  Each party hereto agrees as follows for the benefit of each
other party and for the equal and ratable benefit of the Holders of the
Securities:

                                   ARTICLE ONE

                   DEFINITIONS AND INCORPORATION BY REFERENCE

SECTION 1.01.           Definitions.

                  "Acquired Indebtedness" means Indebtedness of a Person or any
of its Subsidiaries existing at the time such Person becomes a Restricted
Subsidiary of the Company or at the time it merges or consolidates with the
Company or any of its Restricted Subsidiaries or assumed in connection with the
acquisition of assets from such Person and not incurred by such Person in
connection with, or in anticipation or contemplation of, such Person becoming a
Restricted Subsidiary of the Company or such acquisition, merger or
consolidation.

                  "Acquired Preferred Stock" means the Preferred Stock of any
Person at such time as such Person becomes a Restricted Subsidiary of the
Company or at the time it merges or consolidates with the Company or any of its
Restricted Subsidiaries and not issued by such Person in connection with, or in
anticipation or contemplation of, such acquisition, merger or consolidation.

                  "Additional Securities" means subject to the Company's
compliance with Section 4.04, 6 1/2% Series A, Series B or any other series of 6
1/2% Senior Subordinated Notes due 2013 issued from time to time after the Issue
Date under the terms of this Indenture (other than issuances pursuant to Section
2.07, 2.10, 3.06 or 10.05 of this Indenture and other than Exchange Securities
or Private Exchange Securities issued pursuant to an exchange offer for other
securities outstanding under this Indenture).

                  "Affiliate" means, as to any Person, any other Person which,
directly or indirectly through one or more intermediaries, controls, or is
controlled by, or is under common control with, such Person. The term "control"
means the possession, directly or indirectly, of the power to direct or cause
the direction of the management and policies of a Person, whether through the
ownership of voting securities, by contract or otherwise. Chase, Deutsche and
their respective Affiliates shall not be deemed Affiliates of the Company by
reason of the Senior Credit Facilities or their direct or indirect investments
in any fund managed by Hicks Muse or any Person in which any such fund is
invested.

                  "Affiliate Transaction" has the meaning provided in Section
4.03.

                  "Agent" means any Registrar, Paying Agent or co-Registrar.

                  "Applicable Premium" has the meaning provided in paragraph 5
on the reverse of each Security.

                  "Asset Acquisition" means (i) an Investment by the Company or
any Restricted Subsidiary of the Company in any other Person pursuant to which
such Person shall become a Restricted Subsidiary of the

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                                      -2-

Company or shall be consolidated or merged with the Company or any Restricted
Subsidiary of the Company or (ii) the acquisition by the Company or any
Restricted Subsidiary of the Company of assets of any Person comprising a
division or line of business of such Person.

                  "Asset Sale" means any direct or indirect sale, issuance,
conveyance, transfer, lease (other than operating leases entered into in the
ordinary course of business), assignment or other transfer for value by the
Company or any of its Restricted Subsidiaries (excluding any sale and leaseback
transaction or any pledge of assets or stock by the Company or any of its
Restricted Subsidiaries) to any Person other than the Company or a Restricted
Subsidiary of the Company of (i) any Capital Stock of any Restricted Subsidiary
of the Company or (ii) any other property or assets of the Company or any
Restricted Subsidiary of the Company other than in the ordinary course of
business; provided, however, that for purposes of Section 4.08, Asset Sales
shall not include (a) a transaction or series of related transactions in which
the Company or any of its Restricted Subsidiaries receives aggregate
consideration of less than $1,000,000, (b) transactions permitted under Section
4.09, (c) transactions covered by Section 5.01, (d) a Restricted Payment that
otherwise qualifies under Section 4.10, (e) any disposition of obsolete or worn
out equipment or equipment that is no longer useful in the conduct of the
business of the Company and its Subsidiaries and that is disposed of, in each
case, in the ordinary course of business and (f) any transaction that
constitutes a Change of Control. Solely for purposes of Section 11.03 an Asset
Sale is deemed to include a sale, conveyance or transfer by the Representative
following a foreclosure on such assets.

                  "Asset Swap" means the execution of a definitive agreement,
subject only to FCC approval, if applicable, and other customary closing
conditions that the Company in good faith believes will be satisfied, for a
substantially concurrent purchase and sale, or exchange, of Productive Assets
between the Company or any of its Restricted Subsidiaries and another Person or
group of affiliated Persons; provided that any amendment to or waiver of any
closing condition that individually or in the aggregate is material to the Asset
Swap shall be deemed to be a new Asset Swap; it being understood that an Asset
Swap may include a cash equalization payment made in connection therewith
provided that such cash payment, if received by the Company or its Subsidiaries,
shall be deemed to be proceeds received from an Asset Sale and shall be applied
in accordance with Section 4.08.

                  "Bankruptcy Law" means Title 11, United States Code or any
similar federal, state or foreign law for the relief of debtors.

                  "Board of Directors" means the Board of Directors or other
governing body charged with the ultimate management of any Person, or any duly
authorized committee thereof.

                  "Board Resolution" means, with respect to any Person, a duly
adopted resolution of the Board of Directors of such Person or a duly authorized
committee of such Board of Directors.

                  "Business Day" means any day (other than a day which is a
Saturday, Sunday or legal holiday in the State of New York) on which banks are
open for business in New York, New York.

                  "Capital Stock" means (i) with respect to any Person that is a
corporation, any and all shares, interests, participations or other equivalents
(however designated) of capital stock of such Person and (ii) with respect to
any Person that is not a corporation, any and all partnership or other equity
interests of such Person.

                  "Capitalized Lease Obligation" means, as to any Person, the
obligation of such Person to pay rent or other amounts under a lease to which
such Person is a party that is required to be classified and accounted

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                                      -3-

for as a capital lease obligation under GAAP, and for purposes of this
definition, the amount of such obligation at any date shall be the capitalized
amount of such obligation at such date, determined in accordance with GAAP.

                  "Cash Equivalents" means (i) marketable direct obligations
issued by, or unconditionally guaranteed by, the United States Government or
issued by any agency thereof and backed by the full faith and credit of the
United States, in each case maturing within one year from the date of
acquisition thereof; (ii) marketable direct obligations issued by any state of
the United States of America or any political subdivision of any such state or
any public instrumentality thereof maturing within one year from the date of
acquisition thereof and, at the time of acquisition, having one of the two
highest ratings obtainable from either Standard & Poor's Corporation or Moody's
Investors Service, Inc.; (iii) commercial paper maturing no more than one year
from the date of creation thereof and, at the time of acquisition, having a
rating of at least A-1 from Standard & Poor's Corporation or at least P-1 from
Moody's Investors Service, Inc.; (iv) certificates of deposit or bankers'
acceptances maturing within one year from the date of acquisition thereof issued
by any commercial bank organized under the laws of the United States of America
or any state thereof or the District of Columbia or any U.S. branch of a foreign
bank having at the date of acquisition thereof combined capital and surplus of
not less than $200,000,000; (v) repurchase obligations with a term of not more
than seven days for underlying securities of the types described in clause (i)
above entered into with any bank meeting the qualifications specified in clause
(iv) above; and (vi) investments in money market funds that invest substantially
all their assets in securities of the types described in clauses (i) through (v)
above.

                  "Change of Control" means the occurrence of one or more of the
following events: (i) any sale, lease, exchange or other transfer (in one
transaction or a series of related transactions) of all or substantially all of
the assets of the Company to any Person or group of related Persons for purposes
of Section 13(d) of the Exchange Act (a "Group") (whether or not otherwise in
compliance with the provisions of this Indenture), other than to Hicks Muse or
any of its Affiliates, officers or directors (the "Permitted Holders"); or (ii)
a majority of the board of directors of the Company or LIN TV shall consist of
Persons who are not Continuing Directors; or (iii) the acquisition by any Person
or Group (other than the Permitted Holders or any direct or indirect subsidiary
of any Permitted Holder, including without limitation a Holding Company) of the
power, directly or indirectly, to vote or direct the voting of securities having
more than 50% of the ordinary voting power for the election of directors of the
Company.

                  "Change of Control Date" has the meaning provided in Section
4.15.

                  "Change of Control Offer" has the meaning provided in Section
4.15.

                  "Change of Control Payment Date" has the meaning provided in
Section 4.15.

                  "Change of Control Redemption" has the meaning specified in
paragraph 5 of the Securities.

                  "Chase" means JPMorgan Chase Bank or any successor corporation
thereto.

                  "Commodity Agreement" means any commodity futures contract,
commodity option or other similar agreement or arrangement.

                  "Company" means the Person named as the "Company" in the first
paragraph of this Indenture until a successor shall have become such pursuant to
the applicable provisions of this Indenture, and thereafter "Company" shall mean
such successor.

<PAGE>

                                      -4-

                  "Company Request" or "Company Order" means a written request
or order signed in the name of the Company by its Chairman of the Board, its
Vice Chairman of the Board, its President, a Vice President or its Treasurer,
and by its Assistant Treasurer, its Secretary or an Assistant Secretary, and
delivered to the Trustee.

                  "Consolidated Cash Flow" means, with respect to any Person,
for any period, the sum (without duplication) of (i) Consolidated Net Income,
(ii) to the extent Consolidated Net Income has been reduced thereby, (a) all
income taxes of such Person and its Restricted Subsidiaries paid or accrued in
accordance with GAAP for such period (other than income taxes attributable to
extraordinary or nonrecurring gains or losses), (b) Consolidated Interest
Expense and (c) Consolidated Non-Cash Charges, all as determined on a
consolidated basis for such Person and its Restricted Subsidiaries in conformity
with GAAP, and (iii) the lesser of (x) dividends or distributions paid in cash
to such Person or its Restricted Subsidiaries by any other Person whose results
are reflected as a minority interest in the consolidated financial statements of
such first Person and (y) such Person's equity interest in the Consolidated Cash
Flow of such other Person (but in no event less than zero), except, that in the
case of the Joint Venture, (I) such amount shall not exceed 10% of the
Consolidated Cash Flow of the Company for such period and (II) such first Person
shall be deemed to have received by dividend its proportionate share of
distributable cash retained by the Joint Venture to fund the interest reserve.

                  "Consolidated Interest Expense" means, with respect to any
Person for any period, without duplication, the sum of (i) the interest expense
of such Person and its Restricted Subsidiaries for such period as determined on
a consolidated basis in accordance with GAAP, including, without limitation, (a)
any amortization of debt discount, (b) the net cost under Interest Swap
Agreements (including any amortization of discounts), (c) the interest portion
of any deferred payment obligation, (d) all commissions, discounts and other
fees and charges owed with respect to letters of credit, bankers' acceptance
financing or similar facilities, and (e) all accrued interest and (ii) the
interest component of Capitalized Lease Obligations paid or accrued by such
Person and its Restricted Subsidiaries during such period as determined on a
consolidated basis in accordance with GAAP.

                  "Consolidated Net Income" of any Person means, for any period,
the aggregate net income (or loss) of such Person and its Restricted
Subsidiaries for such period on a consolidated basis, determined in accordance
with GAAP; provided, however, that there shall be excluded therefrom, without
duplication, (a) gains and losses from Asset Sales (without regard to the
$1,000,000 limitation set forth in the definition thereof) or abandonments or
reserves relating thereto and the related tax effects, (b) items classified as
extraordinary or nonrecurring gains and losses, and the related tax effects
according to GAAP, (c) the net income of any Restricted Subsidiary to the extent
that the declaration of dividends or similar distributions by that Restricted
Subsidiary of that income is restricted by contract, operation of law or
otherwise, and (d) the net income or loss of any Person, other than a Restricted
Subsidiary; and provided, further, however, that there shall be added to net
income an amount equal to the consolidated cash flow losses attributable to
stations which the Company or any of its Restricted Subsidiaries operates
pursuant to local marketing agreements provided that such addback shall not
exceed $3,000,000 in any Four Quarter Period.

                  "Consolidated Non-Cash Charges" means, with respect to any
Person for any period, the aggregate depreciation, amortization and other
non-cash expenses of such Person and its Restricted Subsidiaries (excluding any
such charges constituting an extraordinary or nonrecurring item) reducing
Consolidated Net Income of such Person and its Restricted Subsidiaries for such
period, determined on a consolidated basis in accordance with GAAP.

                  "Continuing Director" means, as of the date of determination,
any Person who (i) was a member of the Board of Directors of the Company or LIN
TV on the Issue Date, (ii) was nominated for election or elected to the Board of
Directors of the Company or LIN TV, as the case may be, with the affirmative
vote of

<PAGE>

                                      -5-

a majority of the Continuing Directors who were members of such Board of
Directors at the time of such nomination or election or (iii) is a
representative of a Permitted Holder.

                  "Corporate Trust Office of the Trustee" means the principal
office of the Trustee at which at any particular time its corporate trust
business shall be administered, which office at the date of original execution
of this Indenture is located at [114 West 47th Street, New York, New York
10036], Attention: Corporate Trust Department.

                  "Credit Agreement" means the amended and restated credit
agreement dated as of February 7, 2003, among Holdings, the Company,
Televicentro of Puerto Rico, LLC, Chase, as administrative agent, J.P. Morgan
Securities Inc. and Deutsche Bank Securities Inc. as joint lead arrangers and
joint bookrunners, Deutsche, as syndication agent, The Bank of Nova Scotia,
Fleet National Bank and Morgan Stanley Senior Funding, as co-documentation
agents, and the other financial institutions from time to time party thereto,
together with the related documents thereto (including, without limitation, any
guarantee agreements and security documents), in each case as such agreements
may be amended (including any amendment and restatement thereof), supplemented
or otherwise modified from time to time, including any agreement extending the
maturity of, refinancing, replacing or otherwise restructuring (including by way
of adding Subsidiaries of the Company as additional borrowers or guarantors
thereunder) all or any portion of the Indebtedness under such agreement or any
successor or replacement agreement and whether by the same or any other agent,
lender or group of lenders (or other institutions).

                  "Currency Agreement" means any foreign exchange contract,
currency swap agreement or other similar agreement or arrangement.

                  "Custodian" means any receiver, trustee, assignee, liquidator,
sequestrator or similar official under any Bankruptcy Law.

                  "Default" means an event or condition the occurrence of which
is, or with the lapse of time or the giving of notice or both would be, an Event
of Default.

                  "Depository" means, with respect to the Securities issued in
the form of one or more Global Securities, The Depository Trust Company or
another Person designated as Depository by the Company, which must be a clearing
agency registered under the Exchange Act.

                  "Designated Senior Indebtedness" means (i) all obligations
under the Senior Credit Facilities and (ii) any other Senior Indebtedness of the
Company which, at the date of determination, has an aggregate principal amount
outstanding of, or under which, at the date of determination, the holders
thereof are committed to lend up to, at least $20,000,000 and is specifically
designated by the Company in the instrument evidencing or governing such Senior
Indebtedness as "Designated Senior Indebtedness" for purposes of this Indenture.

                  "Deutsche" means Deutsche Bank Trust Company Americas or any
successor corporation thereto.

                  "Disposition" means, with respect to any Person, any merger,
consolidation or other business combination involving such Person (whether or
not such Person is the Surviving Person) or the sale, assignment, or transfer,
lease, conveyance or other disposition of all or substantially all of such
Person's assets.

                  "Disqualified Capital Stock" means any Capital Stock that, by
its terms (or by the terms of any security into which it is convertible or for
which it is exchangeable), or upon the happening of any event, matures

<PAGE>

                                      -6-

(excluding any maturity as the result of an optional redemption by the issuer
thereof) or is mandatorily redeemable, pursuant to a sinking fund obligation or
otherwise, or is redeemable at the sole option of the holder thereof (except, in
each case, upon the occurrence of a Change of Control), in whole or in part, on
or prior to the Final Maturity Date of the Securities; provided that only the
portion of Capital Stock which so matures or is mandatorily redeemable or is so
redeemable at the sole option of the holder thereof prior to May 15, 2013 shall
be deemed Disqualified Capital Stock.

                  "Equity Offering" means a private sale or public offering of
Capital Stock (other than Disqualified Capital Stock) of the Company or a
Holding Company (to the extent, in the case of a Holding Company, that the net
cash proceeds thereof are contributed to the common or non-redeemable preferred
equity capital of the Company).

                  "Event of Default" has the meaning provided in Section 6.01.

                  "Exchange Act" means the Securities Exchange Act of 1934, as
amended, and the rules and regulations promulgated by the SEC thereunder.

                  "Exchangeable Debentures" means the 2 1/2% Exchangeable Senior
Subordinated Debentures due 2033 of the Company issued under the Exchangeable
Debentures Indenture.

                  "Exchangeable Debentures Indenture" means the indenture, as
amended or supplemented from time to time, dated May 12, 2003 between the
Company, the guarantors named therein and The Bank of New York, as trustee.

                  "Exchange Securities" means the 6 1/2% Senior Subordinated
Notes due 2013, Series B, to be issued in exchange for the Initial Securities
pursuant to the Registration Rights Agreement.

                  "Existing Senior Subordinated Notes" means the 8 3/8% Senior
Subordinated Notes due 2008 of the Company issued under the indenture, as
amended, dated March 3, 1998, between the Company, the guarantors named therein
and the United States Trust Company of New York, as Trustee.

                  "Final Maturity Date" means May 15, 2013.

                  "Financial Advisory Agreement" means the Financial Advisory
Agreement by and among the Company, Holdings and Hicks Muse Partners, as in
effect on the Issue Date.

                  "Funding Guarantor" has the meaning provided in Section 11.05.

                  "GAAP" means generally accepted accounting principles in the
United States of America as in effect as of the date of this Indenture,
including those set forth in the opinions and pronouncements of the Accounting
Principles Board of the American Institute of Certified Public Accountants and
statements and pronouncements of the Financial Accounting Standards Board or the
Commission or in such other statements by such other entity as approved by a
significant segment of the accounting profession. All ratios and computations
based on GAAP contained in this Indenture shall be computed in conformity with
GAAP.

                  "Global Securities" means one or more 144A Global Securities,
Regulation S Global Securities or IAI Global Securities.

<PAGE>

                                      -7-

                  "guarantee" means a guarantee (other than by endorsement of
negotiable instruments for collection in the ordinary course of business),
direct or indirect, in any manner (including, without limitation, by way of a
pledge of assets or through letters of credit or reimbursement agreements in
respect thereof), of all or any part of any Indebtedness.

                  "Guarantees" means the Form of Guarantee of each Guarantor to
be endorsed on each of the Securities in the form of Exhibit A (in the case of
an Initial Security) or Exhibit B (in the case of an Exchange Security) hereto.

                  "Guarantor" means (i) LIN TV and (ii) each Subsidiary
Guarantor.

                  "Guarantor Senior Indebtedness" means, as to any Guarantor,
Senior Indebtedness of such Guarantor, it being understood that for the purpose
of this definition, all references to the Company in the definition of Senior
Subordinated Indebtedness shall be deemed references to such Guarantor.

                  "Guarantor Senior Subordinated Indebtedness" means, as to any
Guarantor, Senior Subordinated Indebtedness of such Guarantor, it being
understood that for purposes of this definition, all references to the Company
in the definition of Senior Subordinated Indebtedness shall be deemed references
to such Guarantor.

                  "Hicks Muse" means Hicks, Muse, Tate & Furst Incorporated, a
Delaware corporation.

                  "Hicks Muse Partners" means Hicks, Muse & Co. Partners, L.P.,
an affiliate of Hicks Muse.

                  "Holders" means the registered holders of the Securities.

                  "Holdings" means LIN Holdings Corp., a Delaware corporation,
and any successor in interest thereto.

                  "Holding Company" has the meaning provided in Section 4.10(b).

                  "IAI Global Security" means a permanent global security in
registered form representing the aggregate principal amount of Securities
transferred after the Issue Date to Institutional Accredited Investors.

                  "incur" has the meaning set forth in Section 4.04.

                  "Indebtedness" means with respect to any Person, without
duplication, any liability of such Person (i) for borrowed money, (ii) evidenced
by bonds, debentures, notes or other similar instruments, (iii) constituting
Capitalized Lease Obligations, (iv) incurred or assumed as the deferred purchase
price of property, or pursuant to conditional sale obligations and title
retention agreements (but excluding trade accounts payable arising in the
ordinary course of business), (v) for the reimbursement of any obligor on any
letter of credit, banker's acceptance or similar credit transaction, (vi) for
Indebtedness of others guaranteed by such Person, (vii) for Interest Swap
Agreements, Commodity Agreements and Currency Agreements and (viii) for
Indebtedness of any other Person of the type referred to in clauses (i) through
(vii) which is secured by any Lien on any property or asset of such first
referred to Person, the amount of such Indebtedness being deemed to be the
lesser of the value of such property or asset or the amount of the Indebtedness
so secured. The amount of Indebtedness of any Person at any date shall be (i)
the outstanding principal amount of all unconditional obligations described
above, as such amount would be reflected on a balance sheet prepared in
accordance with GAAP, and the maximum liability at such date of such Person for
any contingent obligations described above, (ii) the accreted value

<PAGE>

                                      -8-

thereof, in the case of any Indebtedness issued with original issue discount,
and (iii) the principal amount thereof, together with any interest thereon that
is more than 30 days past due, in the case of any other Indebtedness.

                  "Indenture" means this Indenture, as amended or supplemented
from time to time.

                  "Initial Purchasers" means J.P. Morgan Securities Inc.,
Deutsche Bank Securities Inc., Bear, Stearns & Co. Inc., Fleet Securities, Inc.,
Morgan Stanley & Co. Incorporated and Scotia Capital (USA) Inc.

                  "Initial Securities" means the 6 1/2% Senior Subordinated
Notes due 2013, Series A, of the Company.

                  "Institutional Accredited Investor" means an institution that
is an "accredited investor" as that term is defined in Rule 501(a)(1), (2), (3)
or (7) under the Securities Act.

                  "interest" means, with respect to the Securities, the sum of
any cash interest and any Liquidated Damages (as defined in the Registration
Rights Agreement) on the Securities.

                  "Interest Payment Date" means May 15 and November 15 of each
year, commencing on November 15, 2003.

                  "Interest Record Date" for the interest payable on any
Interest Payment Date (except a date for payment of defaulted interest) means
the May 1 or November 1 (whether or not a Business Day), as the case may be,
immediately preceding such Interest Payment Date.

                  "Interest Swap Agreements" means any interest rate protection
agreement, interest rate future, interest rate option, interest rate swap,
interest rate cap or other interest rate hedge or arrangement.

                  "Investment" in any Person means any direct or indirect
advance, loan or other extension of credit (in each case, including by way of
Guarantee or similar arrangement, but excluding (i) any debt or extension of
credit represented by a bank deposit other than a time deposit and (ii) advances
to customers in the ordinary course of business) or capital contribution to (by
means of any transfer of cash or other property to others or any payment for
property or services for the account or use of others), or any purchase or
acquisition of Capital Stock, Indebtedness or other similar instruments issued
by such Person. For purposes of Section 4.10, (A) "Investment" shall include the
portion (proportionate to the Company's equity interest in a Restricted
Subsidiary to be designated as an Unrestricted Subsidiary) of the fair market
value of the net assets of such Restricted Subsidiary of the Company at the time
that such Restricted Subsidiary is designated an Unrestricted Subsidiary;
provided, however, that upon a redesignation of such Unrestricted Subsidiary as
a Restricted Subsidiary, the Company shall be deemed to continue to have a
permanent "Investment" (if positive) equal to (1) the Company's "Investment" in
such Unrestricted Subsidiary at the time of such redesignation less (2) the
portion (proportionate to the Company's equity interest in such Unrestricted
Subsidiary) of the fair market value of the net assets of such Unrestricted
Subsidiary at the time that such Unrestricted Subsidiary is so redesignated from
an Unrestricted Subsidiary to a Restricted Subsidiary; and (B) any property
transferred to or from an Unrestricted Subsidiary shall be valued at its fair
market value at the time of such transfer, in each case as determined in good
faith by the board of directors of the Company.

                  "Issue Date" means the date on which the Initial Securities
are originally issued.

                  "Joint Venture" means the television station joint venture
formed pursuant to an agreement dated January 15, 1998, as amended, by and
between Holdings, the National Broadcast Company Inc. ("NBC"), the

<PAGE>

                                      -9-

Company and certain affiliates of Holdings, pursuant to which both the Company
and NBC contributed television stations to the Joint Venture in exchange for
equity interests therein.

                  "Leverage Ratio" means, as to any Person, the ratio of (i) the
aggregate outstanding amount of Indebtedness of such Person and its Restricted
Subsidiaries as of the date of calculation on a consolidated basis in accordance
with GAAP plus the aggregate liquidation preference of all Disqualified Capital
Stock of such Person and of all outstanding Preferred Stock of Restricted
Subsidiaries of such Person (other than any such Disqualified Capital Stock or
Preferred Stock held by such Person or any of its Restricted Subsidiaries) to
(ii) the Consolidated Cash Flow of such Person for the four full fiscal quarters
(the "Four Quarter Period") ending on or prior to the date of determination.

                  For purposes of this definition, the aggregate outstanding
principal amount of Indebtedness of the Person and its Restricted Subsidiaries
for which such calculation is made shall be determined on a pro forma basis as
if the Indebtedness giving rise to the need to perform such calculation had been
incurred and the proceeds therefrom had been applied, and all other transactions
in respect of which such Indebtedness is being incurred has occurred, on the
last day of the Four Quarter Period. In addition to the foregoing, for purposes
of this definition, "Consolidated Cash Flow" shall be calculated on a pro forma
basis after giving effect to (i) the Transactions, (ii) the incurrence of the
Indebtedness of such Person and its Restricted Subsidiaries (and the application
of the proceeds therefrom) giving rise to the need to make such calculation and
any incurrence (and the application of the proceeds therefrom) or repayment of
other Indebtedness, other than the incurrence or repayment of Indebtedness
pursuant to working capital facilities, at any time subsequent to the beginning
of the Four Quarter Period and on or prior to the date of determination, as if
such incurrence (and the application of the proceeds thereof), or the repayment,
as the case may be, occurred on the first day of the Four Quarter Period, (iii)
any Asset Sales (including those excluded from the definition thereof by clause
(b), (c) or (d) of the definition thereof) or Asset Acquisitions (including,
without limitation, any Asset Acquisition giving rise to the need to make such
calculation as a result of such Person or one of its Subsidiaries (including any
Person that becomes a Restricted Subsidiary as a result of such Asset
Acquisition) incurring, assuming or otherwise becoming liable for Indebtedness)
or Asset Swaps at any time on or subsequent to the first day of the Four Quarter
Period and on or prior to the date of determination, as if such Asset Sale,
Asset Acquisition (including the incurrence, assumption or liability for any
such Indebtedness and also including any Consolidated Cash Flow associated with
such Asset Acquisition) or Asset Swap occurred on the first day of the Four
Quarter Period and (iv) cost savings resulting from employee termination,
facilities consolidations and closings, standardization of employee benefits and
compensation practices, consolidation of property, casualty and other insurance
coverage and policies, standardization of sales representation commissions and
other contract rates, and reductions in taxes other than income taxes
(collectively, "Cost Savings Measures"), which cost savings the Company
reasonably believes in good faith could have been achieved during the Four
Quarter Period as a result of such Asset Acquisition or Asset Swap (regardless
of whether such cost savings could then be reflected in pro forma financial
statements under GAAP, Regulation S-X promulgated by the Commission or any other
regulation or policy of the Commission), less the amount of any additional
expenses that the Company reasonably estimates would result from anticipated
replacement of any items constituting Cost Savings Measures in connection with
such Asset Acquisition or Asset Swap; provided, however, that both (A) such cost
savings and Cost Savings Measures were identified and such cost savings were
quantified in an officer's certificate delivered to the Trustee at the time of
the consummation of the Asset Acquisition or Asset Swap and (B) with respect to
each Asset Acquisition or Asset Swap completed prior to the 90th day preceding
such date of determination, actions were commenced or initiated by the Company
within 90 days of such Asset Acquisition or Asset Swap to effect the Cost
Savings Measures identified in such officer's certificate (regardless, however,
of whether the corresponding cost savings have been achieved). Furthermore, in
calculating "Consolidated Interest Expense" for purposes of the calculation of
"Consolidated Cash Flow," (i) interest on Indebtedness determined on a
fluctuating basis as of the date of determination (including Indebtedness
actually incurred on the date of the transaction giving rise to the

<PAGE>

                                      -10-

need to calculate the Leverage Ratio) and which will continue to be so
determined thereafter shall be deemed to have accrued at a fixed rate per annum
equal to the rate of interest on such Indebtedness as in effect on the date of
determination and (ii) notwithstanding (i) above, interest determined on a
fluctuating basis, to the extent such interest is covered by Interest Swap
Agreements, shall be deemed to accrue at the rate per annum resulting after
giving effect to the operation of such agreements.

                  "Lien" means, with respect to any asset, any lien, mortgage,
deed of trust, pledge, security interest, charge or encumbrance of any kind
(including any conditional sale or other title retention agreement, any lease in
the nature thereof and any agreement to give any security interest).

                  "LIN TV" means LIN TV Corp., a Delaware corporation, or any
successor in interest thereto.

                  "NBC" means the National Broadcasting Company, Inc.

                  "Net Cash Proceeds" means, with respect to any Asset Sale, the
proceeds in the form of cash or Cash Equivalents (including payments in respect
of deferred payment obligations when received in the form of cash or Cash
Equivalents) received by the Company or any of its Subsidiaries from such Asset
Sale net of (i) reasonable out-of-pocket expenses and fees relating to such
Asset Sale (including, without limitation, legal, accounting and investment
banking fees and sales commissions, recording fees, relocation costs, title
insurance premiums, appraisers fees and costs reasonably incurred in preparation
of any asset or property for sale), (ii) taxes paid or reasonably estimated to
be payable (calculated based on the combined state, federal and foreign
statutory tax rates applicable to the Company or the Restricted Subsidiary
engaged in such Asset Sale), (iii) all distributions and other payments required
to be made to any Person owning a beneficial interest in the assets subject to
sale or minority interest holders in Subsidiaries or joint ventures as a result
of such Asset Sale and (iv) any reserves established in accordance with GAAP for
adjustment in respect of the sales price of the asset or assets subject to such
Asset Sale or for any liabilities associated with such Asset Sale and (v)
repayment of Indebtedness secured by assets subject to such Asset Sale;
provided, however, that if the instrument or agreement governing such Asset Sale
requires the transferor to maintain a portion of the purchase price in escrow
(whether as a reserve for adjustment of the purchase price or otherwise) or to
indemnify the transferee for specified liabilities in a maximum specified
amount, the portion of the cash or Cash Equivalents that is actually placed in
escrow or segregated and set aside by the transferor for such indemnification
obligation shall not be deemed to be Net Cash Proceeds until the escrow
terminates or the transferor ceases to segregate and set aside such funds, in
whole or in part, and then only to the extent of the proceeds released from
escrow to the transferor or that are no longer segregated and set aside by the
transferor.

                  "Obligations" means all obligations for principal, premium,
interest, penalties, fees, indemnifications, reimbursements, damages and other
liabilities payable under the documentation governing, or otherwise relating to,
any Indebtedness.

                  "Offerings" means the initial offerings of the Securities and
the Exchangeable Debentures.

                  "Offering Memorandum" means the final offering memorandum
dated May 5, 2003 setting forth information concerning the Company, LIN TV and
the Securities.

                  "Officer" means the Chairman, any Vice Chairman, the
President, any Vice President, the Chief Financial Officer, the Treasurer or the
Secretary of the Company or any other officer designated by the Board of
Directors serving in a similar capacity.

<PAGE>

                                      -11-

                  "Officers' Certificate" means a certificate signed by two
Officers or by an Officer and an Assistant Treasurer or Assistant Secretary of
the Company complying with Sections 13.04 and 13.05.

                  "144A Global Security" means a permanent global security in
registered form representing the aggregate principal amount of Initial
Securities sold in reliance on Rule 144A.

                  "Opinion of Counsel" means a written opinion from legal
counsel who is reasonably acceptable to the Trustee. The counsel may be an
employee of or counsel to the Company or the Trustee.

                  "Participants" has the meaning provided in Section 2.15.

                  "Paying Agent" has the meaning provided in Section 2.03.

                  "Permitted Holders" has the meaning provided in the definition
of "Change of Control."

                  "Permitted Indebtedness" means, without duplication, (i)
Indebtedness outstanding on the Issue Date (including the Senior Notes, the
Exchangeable Debentures and the Existing Senior Subordinated Notes); (ii)
Indebtedness of the Company and any of its Restricted Subsidiaries that is a
Guarantor (a) outstanding under the Senior Credit Facilities (including letter
of credit obligations); provided that the aggregate principal amount at any time
outstanding does not exceed $570,000,000 or (b) incurred under the Senior Credit
Facilities pursuant to and in compliance with (x) clause (v) of this definition
or (y) the proviso in Section 4.04; (iii) Indebtedness evidenced by or arising
under the Securities and this Indenture incurred on the Issue Date; (iv)
Interest Swap Agreements, Commodity Agreements and Currency Agreements;
provided, however, that such agreements are entered into for bona fide hedging
purposes and not for speculative purposes; (v) additional Indebtedness of the
Company or any of its Restricted Subsidiaries that is a Guarantor not to exceed
$50,000,000 in principal amount outstanding at any time (which amount may, but
need not, be incurred under the Senior Credit Facilities); (vi) Refinancing
Indebtedness; (vii) Indebtedness owed by the Company to any Restricted
Subsidiary of the Company or by any Restricted Subsidiary of the Company to the
Company or any Restricted Subsidiary of the Company; (viii) guarantees by the
Company or Restricted Subsidiaries of any Indebtedness permitted to be incurred
pursuant to this Indenture; (ix) Indebtedness in respect of performance bonds,
bankers' acceptances and surety or appeal bonds provided by the Company or any
of its Restricted Subsidiaries to their customers in the ordinary course of
their business; (x) Indebtedness arising from agreements providing for
indemnification, adjustment of purchase price or similar obligations, or from
guarantees or letters of credit, surety bonds or performance bonds securing any
obligations of the Company or any of its Restricted Subsidiaries pursuant to
such agreements, in each case incurred in connection with the disposition of any
business assets or Restricted Subsidiaries of the Company (other than guarantees
of Indebtedness or other obligations incurred by any Person acquiring all or any
portion of such business assets or Restricted Subsidiaries of the Company for
the purpose of financing such acquisition) in a principal amount not to exceed
the gross proceeds actually received by the Company or any of its Restricted
Subsidiaries in connection with such disposition; provided, however, that the
principal amount of any Indebtedness incurred pursuant to this clause (x), when
taken together with all Indebtedness incurred pursuant to this clause (x) and
then outstanding, shall not exceed $50,000,000; and (xi) Indebtedness
represented by Capitalized Lease Obligations, mortgage financings or purchase
money obligations, in each case incurred for the purpose of financing all or any
part of the purchase price or cost of construction or improvement of property or
assets used in a related business or incurred to refinance any such purchase
price or cost of construction or improvement, in each case incurred no later
than 365 days after the date of such acquisition or the date of completion of
such construction or improvement; provided, however, that the principal amount
of any Indebtedness incurred pursuant to this clause (xi) shall not exceed
$7,500,000 at any time outstanding.

<PAGE>

                                      -12-

                  "Permitted Investments" means (i) Investments by the Company
or any Restricted Subsidiary of the Company to acquire the stock or assets of
any Person (or Acquired Indebtedness or Acquired Preferred Stock acquired in
connection with a transaction in which such Person becomes a Restricted
Subsidiary of the Company) engaged in the broadcast business or businesses
reasonably related thereto; provided, however, that if any such Investment or
series of related Investments involves an Investment by the Company in excess of
$10,000,000, the Company is able, at the time of such Investment and immediately
after giving effect thereto, to incur at least $1.00 of additional Indebtedness
(other than Permitted Indebtedness) in compliance with Section 4.04, (ii)
Investments received by the Company or its Restricted Subsidiaries as
consideration for a sale of assets made in compliance with the other terms of
this Indenture, (iii) Investments by the Company or any Restricted Subsidiary of
the Company in any Restricted Subsidiary of the Company (whether existing on the
Issue Date or created thereafter) or any Person that after such Investments, and
as a result thereof, becomes a Restricted Subsidiary of the Company and
Investments in the Company or any Restricted Subsidiary by any Restricted
Subsidiary of the Company, (iv) Investments in cash and Cash Equivalents, (v)
Investments in securities of trade creditors, wholesalers or customers received
pursuant to any plan of reorganization or similar arrangement, (vi) loans or
advances to employees of the Company or any Restricted Subsidiary thereof for
purposes of purchasing the Company's or a Holding Company's Capital Stock and
other loans and advances to employees made in the ordinary course of business
consistent with past practices of the Company or any Restricted Subsidiary and
(vii) additional Investments in an aggregate amount not to exceed $5,000,000 at
any time outstanding.

                  "Person" means an individual, partnership, corporation,
limited liability company, unincorporated organization, trust or joint venture,
or a governmental agency or political subdivision thereof.

                  "Physical Securities" means one or more certificated
Securities in registered form.

                  "Preferred Stock" of any Person means any Capital Stock of
such Person that has preferential rights to any other Capital Stock of such
Person with respect to dividends or redemptions or upon liquidation.

                  "Private Exchange Securities" has the meaning provided in the
Registration Rights Agreement.

                  "Private Placement Legend" means the legend initially set
forth on the Initial Securities in the form set forth on Exhibit A hereto.

                  "Productive Assets" means assets of a kind used or usable by
the Company and its Restricted Subsidiaries in the broadcast business or
businesses reasonably related, ancillary or complementary thereto, and
specifically includes assets acquired through Asset Acquisitions (it being
understood that "assets" may include Capital Stock of a Person that owns such
Productive Assets, provided that after giving effect to such transaction, such
Person would be a Restricted Subsidiary of the Company).

                  "Public Equity Offering" means an underwritten public offering
of Capital Stock (other than Disqualified Capital Stock) of the Company or a
Holding Company (to the extent, in the case of a Holding Company, that the net
cash proceeds thereof are contributed to the common or non-redeemable preferred
equity capital of the Company), pursuant to an effective registration statement
filed with the Commission in accordance with the Securities Act.

                  "Qualified Capital Stock" means any Capital Stock that is not
Disqualified Capital Stock.

                  "Qualified Institutional Buyer" or "QIB" means a "qualified
institutional buyer" as that term is defined in Rule 144A under the Securities
Act.

<PAGE>

                                      -13-

                  "Redemption Date," when used with respect to any Security to
be redeemed, means the date fixed for such redemption pursuant to this
Indenture.

                  "redemption price," when used with respect to any Security to
be redeemed, means the price fixed for such redemption pursuant to this
Indenture as set forth in the form of Security annexed hereto as Exhibit A.

                  "Refinancing Indebtedness" means any refinancing by the
Company of Indebtedness of the Company or any of its Restricted Subsidiaries
incurred in accordance with Section 4.04 (other than pursuant to clause (iii) or
(iv) of the definition of "Permitted Indebtedness") that does not (i) result in
an increase in the aggregate principal amount of Indebtedness (such principal
amount to include, for purposes of this definition, any premiums, penalties or
accrued interest paid with the proceeds of the Refinancing Indebtedness) of such
Person or (ii) create Indebtedness with (A) a Weighted Average Life to Maturity
that is less than the Weighted Average Life to Maturity of the Indebtedness
being refinanced or (B) a final maturity earlier than the final maturity of the
Indebtedness being refinanced.

                  "Registrar" has the meaning provided in Section 2.03.

                  "Registration" means a registered exchange offer for the
Securities by the Company or other registration of the Securities under the
Securities Act pursuant to and in accordance with the terms of the Registration
Rights Agreement.

                  "Registration Rights Agreement" means (i) with respect to the
Initial Securities, the Exchange and Registration Rights Agreement dated as of
the Issue Date by and among the Company, the Guarantors and the Initial
Purchasers and (ii) with respect to each issuance of Additional Securities
issued in a transaction exempt from the registration requirements of the
Securities Act, the registration rights agreement, if any, among the Company,
the guarantors and the Persons purchasing such Additional Securities under the
related purchase agreement.

                  "Regulation S" means Regulation S under the Securities Act.

                  "Regulation S Global Security" means a permanent global
security in registered form representing the aggregate principal amount of
Securities sold in reliance on Regulation S under the Securities Act.

                  "Representative" means the indenture trustee or other trustee,
agent or representative in respect of any Senior Indebtedness; provided,
however, that if, and for so long as, any issue of Senior Indebtedness lacks
such a representative, then the holders of a majority in outstanding principal
amount of such issue of Senior Indebtedness shall at all times constitute the
Representative for such issue of Senior Indebtedness.

                  "Restricted Payment" means (i) the declaration or payment of
any dividend or the making of any other distribution (other than dividends or
distributions payable in Qualified Capital Stock or in options, rights or
warrants to acquire Qualified Capital Stock) on shares of the Company's Capital
Stock, (ii) the purchase, redemption, retirement or other acquisition for value
of any Capital Stock of the Company, or any warrants, rights or options to
acquire shares of Capital Stock of the Company, other than through the exchange
of such Capital Stock or any warrants, rights or options to acquire shares of
any class of such Capital Stock for Qualified Capital Stock or warrants, rights
or options to acquire Qualified Capital Stock or (iii) the making of any
Investment (other than a Permitted Investment).

<PAGE>

                                      -14-

                  "Restricted Security" means a Security that is a "restricted
security" within the meaning set forth in Rule 144(a)(3) under the Securities
Act; provided, however, that the Trustee shall be entitled to request and
conclusively rely upon an Opinion of Counsel with respect to whether any
Security is a Restricted Security.

                  "Restricted Subsidiary" means a Subsidiary of the Company
other than an Unrestricted Subsidiary and includes all of the Subsidiaries of
the Company existing as of the Issue Date. The Board of Directors of the Company
may designate any Unrestricted Subsidiary or any Person that is to become a
Subsidiary as a Restricted Subsidiary if immediately after giving effect to such
action (and treating any Acquired Indebtedness as having been incurred at the
time of such action), the Company could have incurred at least $1.00 of
additional indebtedness (other than Permitted Indebtedness) pursuant to Section
4.04.

                  "Rule 144A" means Rule 144A under the Securities Act.

                  "Secured Indebtedness" means any Indebtedness of the Company
or a Restricted Subsidiary secured by a Lien.

                  "SEC" or "Commission" means the Securities and Exchange
Commission.

                  "Securities" means, collectively, the Initial Securities, any
Additional Securities, the Private Exchange Securities and the Unrestricted
Securities treated as a single class of securities, as amended or supplemented
from time to time in accordance with the terms of this Indenture.

                  "Securities Act" means the Securities Act of 1933, as amended,
and the rules and regulations promulgated by the SEC thereunder.

                  "Senior Credit Facilities" means the credit facilities under
the Credit Agreement.

                  "Senior Indebtedness" means, whether outstanding on the Issue
Date or thereafter issued, all Indebtedness of the Company, including interest
(including interest accruing on or after the filing of any petition in
bankruptcy or for reorganization relating to the Company or any Restricted
Subsidiary whether or not a claim for post-filing interest is allowed in such
proceeding) and premium, if any, thereon, and other monetary amounts (including
fees, expenses, reimbursement obligations under letters of credit and
indemnities) owing in respect thereof unless, in the instrument creating or
evidencing the same or pursuant to which the same is outstanding, it is provided
that the obligations in respect of such Indebtedness rank pari passu with the
Securities; provided, however, that Senior Indebtedness will not include (1) any
obligation of the Company to any Restricted Subsidiary, (2) any liability for
federal, state, foreign, local or other taxes owed or owing by the Company, (3)
any accounts payable or other liability to trade creditors arising in the
ordinary course of business (including Guarantees thereof or instruments
evidencing such liabilities), (4) any Indebtedness, guarantee or obligation of
the Company that is expressly subordinate or junior in right of payment to any
other Indebtedness, guarantee or obligation of the Company, including any Senior
Subordinated Indebtedness, or (5) obligations in respect of any Capital Stock.

                  "Senior Notes" means the 8% Senior Notes due 2008 of the
Company issued under the Senior Notes Indenture.

                  "Senior Notes Indenture" means the indenture, as amended or
supplemented from time to time, dated June 14, 2001 between the Company, the
guarantors named therein and United States Trust Company of New York, as
trustee.

<PAGE>

                                      -15-

                  "Senior Subordinated Indebtedness" means the Securities and
any other Indebtedness of the Company that specifically provides that such
Indebtedness is to rank pari passu with the Securities in right of payment and
is not subordinated by its terms in right of payment to any Indebtedness or
other obligation of the Company which is not Senior Indebtedness.

                  "Significant Restricted Subsidiary" means, at any date of
determination, any Restricted Subsidiary that would be a "significant
subsidiary" as defined in Article I, Rule 1-02 of Regulation S-X, promulgated
under the Securities Act, as such rule is in effect on the Issue Date.

                  "Stated Maturity" means with respect to any installment of
interest or principal on any series of Indebtedness, the date on which such
payment of interest or principal was scheduled to be paid in the original
documentation governing such Indebtedness, and shall not include any contingent
obligations to repay, redeem or repurchase any such interest or principal prior
to the date originally scheduled for the payment thereof.

                  "Subsidiary," with respect to any Person, means (i) any
corporation of which the outstanding Capital Stock having at least a majority of
the votes entitled to be cast in the election of directors under ordinary
circumstances shall at the time be owned, directly or indirectly through one or
more intermediaries, by such Person or (ii) any other Person of which at least a
majority of the voting interest under ordinary circumstances is at the time,
directly or indirectly through one or more intermediaries, owned by such Person.
Notwithstanding anything in this Indenture to the contrary, all references to
the Company and its consolidated Subsidiaries or to financial information
prepared on a consolidated basis in accordance with GAAP shall be deemed to
include the Company and its Subsidiaries as to which financial statements are
prepared on a combined basis in accordance with GAAP and to financial
information prepared on such a combined basis. Notwithstanding anything in this
Indenture to the contrary, an Unrestricted Subsidiary shall not be deemed to be
a Restricted Subsidiary for purposes of this Indenture.

                  "Subsidiary Guarantor" means each of the Company's direct and
indirect, existing and future Restricted Subsidiaries, other than a Subsidiary
organized under the laws of a jurisdiction other than the United States or any
state thereof, provided that such Subsidiary's assets and principal place of
business are located outside the United States.

                  "Surviving Person" means, with respect to any Person involved
in or that makes any Disposition, the Person formed by or surviving such
Disposition or the Person to which such Disposition is made.

                  "TIA" means the Trust Indenture Act of 1939 (15 U.S. Code
Sections 77aaa-77bbbb), as amended, as in effect on the date of this Indenture
(except as provided in Section 10.03) until such time as this Indenture is
qualified under the TIA, and thereafter as in effect on the date on which this
Indenture is qualified under the TIA.

                  "Transactions" means the consummation of the Offerings and the
use of proceeds thereof (collectively); provided that if the Exchangeable
Debentures are not issued, then "Transactions" means the consummation of the
initial offering of the Securities and the use of the proceeds thereof.

                  "Treasury Rate" has the meaning provided in paragraph 5 on the
reverse of each Security.

                  "Trust Officer" means any officer within the corporate trust
department (or any successor group of the Trustee) including any vice president,
assistant vice president, assistant secretary or any other officer or assistant
officer of the Trustee customarily performing functions similar to those
performed by the persons who at that time shall be such officers, and also
means, with respect to a particular corporate trust matter, any other

<PAGE>

                                      -16-

officer to whom such trust matter is referred because of his knowledge of and
familiarity with the particular subject.

                  "Trustee" means the party named as such in the first paragraph
of this Indenture until a successor replaces it in accordance with the
provisions of this Indenture and thereafter means such successor.

                  "Unrestricted Securities" means one or more Securities that do
not and are not required to bear the Private Placement Legend in the form set
forth in Exhibit A hereto, including, without limitation, the Exchange
Securities and any Securities registered under the Securities Act pursuant to
and in accordance with the Registration Rights Agreement.

                  "Unrestricted Subsidiary" means a Subsidiary of the Company so
designated by a resolution adopted by the Board of Directors of the Company;
provided, however, that (a) neither the Company nor any of its other Restricted
Subsidiaries (1) provides any credit support for any Indebtedness or other
Obligations of such Subsidiary (including any undertaking, agreement or
instrument evidencing such Indebtedness) or (2) is directly or indirectly liable
for any Indebtedness or other Obligations of such Subsidiary and (b) at the time
of designation of such Subsidiary, such Subsidiary has no property or assets
(other than de minimis assets resulting from the initial capitalization of such
Subsidiary). The Board of Directors may designate any Unrestricted Subsidiary to
be a Restricted Subsidiary; provided, however, that immediately after giving
effect to such designation (x) the Company could incur $1.00 of additional
Indebtedness (other than Permitted Indebtedness) in compliance with Section 4.04
and (y) no Default or Event of Default shall have occurred or be continuing. Any
designation pursuant to this definition by the Board of Directors of the Company
shall be evidenced to the Trustee by the filing with the Trustee of a certified
copy of the resolution of the Company's Board of Directors giving effect to such
designation and an Officers' Certificate certifying that such designation
complies with the foregoing conditions.

                  "U.S. Government Obligations" means direct obligations (or
certificates representing an ownership interest in such obligations) of the
United States of America (including any agency or instrumentality thereof) for
the payment of which the full faith and credit of the United States of America
is pledged and which are not callable or redeemable at the issuer's option.

                  "Weighted Average Life to Maturity" means, when applied to any
Indebtedness at any date, the number of years obtained by dividing (a) the then
outstanding aggregate principal amount of such Indebtedness into (b) the total
of the product obtained by multiplying (i) the amount of each then remaining
installment, sinking fund, serial maturity or other required payment of
principal, including payment at final maturity, in respect thereof, by (ii) the
number of years (calculated to the nearest one-twelfth) which will elapse
between such date and the making of such payment.

SECTION 1.02.     Incorporation by Reference of Trust Indenture Act.

                  Whenever this Indenture refers to a provision of the TIA, the
provision is incorporated by reference in and made a part of this Indenture. The
following TIA terms used in this Indenture have the following meanings:

                  "Commission" means the SEC.

                  "indenture securities" means the Securities.

                  "indenture security holder" means a Holder.

<PAGE>

                                      -17-

                  "indenture to be qualified" means this Indenture.

                  "indenture trustee" or "institutional trustee" means the
Trustee.

                  "obligor" means the Company or any other obligor on the
Securities.

                  All other TIA terms used in this Indenture that are defined by
the TIA, defined by TIA reference to another statute or defined by SEC rule and
not otherwise defined herein have the meanings assigned to them therein.

SECTION 1.03.           Rules of Construction.

                  Unless the context otherwise requires:

                  (1)      a term has the meaning assigned to it;

                  (2)      an accounting term not otherwise defined has the
         meaning assigned to it in accordance with generally accepted accounting
         principles in effect from time to time, and any other reference in this
         Indenture to "generally accepted accounting principles" refers to GAAP;

                  (3)      "or" is not exclusive;

                  (4)      words in the singular include the plural, and words
         in the plural include the singular;

                  (5)      provisions apply to successive events and
         transactions; and

                  (6)      "herein," "hereof" and other words of similar import
         refer to this Indenture as a whole and not to any particular Article,
         Section or other subdivision.

                                   ARTICLE TWO

                                 THE SECURITIES

SECTION 2.01.           Form and Dating.

                  The Initial Securities and the Trustee's certificate of
authentication thereof shall be substantially in the form of Exhibit A hereto,
which is hereby incorporated in and expressly made a part of this Indenture. The
Exchange Securities and the Trustee's certificate of authentication thereof
shall be substantially in the form of Exhibit B hereto, which is hereby
incorporated in and expressly made a part of this Indenture. The Securities may
have notations, legends or endorsements (including the Subsidiary Guarantee)
required by law, stock exchange rule or usage. The Company and the Trustee shall
approve the form of the Securities and any notation, legend or endorsement
(including the Guarantee) on them. Each Security shall be dated the date of its
issuance and shall show the date of its authentication.

                  Securities offered and sold in reliance on Rule 144A and
Securities offered and sold in reliance on Regulation S shall be issued
initially in the form of one or more Global Securities, substantially in the
form set

<PAGE>

                                      -18-

forth in Exhibit A hereto, deposited with the Trustee, as custodian for the
Depository, duly executed by the Company and authenticated by the Trustee as
hereinafter provided and shall bear the legend set forth in Exhibit C hereto.
The aggregate principal amount of the Global Securities may from time to time be
increased or decreased by adjustments made on the records of the Trustee, as
custodian for the Depository, as hereinafter provided.

SECTION 2.02.           Execution and Authentication.

                  One or more Officers shall sign (each of whom shall, in each
case, have been duly authorized by all requisite corporate actions) the
Securities for the Company by manual or facsimile signature.

                  If an Officer whose signature is on a Security or a Guarantee,
as the case may be, was an Officer at the time of such execution but no longer
holds that office at the time the Trustee authenticates the Security or
Guarantee, as the case may be, the Security or Guarantee, as the case may be,
shall be valid nevertheless.

                  A Security shall not be valid until an authorized signatory of
the Trustee manually signs the certificate of authentication on the Security.
The signature shall be conclusive evidence that the Security has been
authenticated under this Indenture.

                  The Trustee shall authenticate (i) Initial Securities for
original issue in an aggregate principal amount not to exceed $200,000,000, (ii)
Private Exchange Securities from time to time only in exchange for a like
principal amount of Initial Securities and (iii) Unrestricted Securities from
time to time only in exchange for (A) a like principal amount of Initial
Securities or (B) a like principal amount of Private Exchange Securities, in
each case upon a written order of the Company in the form of an Officers'
Certificate. Each such written order shall specify the amount of Securities to
be authenticated and the date on which the Securities are to be authenticated,
whether the Securities are to be Initial Securities, Private Exchange Securities
or Unrestricted Securities and whether the Securities are to be issued as
Physical Securities or Global Securities and such other information as the
Trustee may reasonably request. Additional Securities may be issued in
accordance with Section 2.17. Any such order shall specify the amount of the
Additional Securities to be authenticated and the date on which the original
issue of Additional Securities is to be authenticated and, in the case of an
issuance of Additional Securities pursuant to Section 2.17 after the Issue Date,
shall certify that such issuance will not be prohibited by Section 4.04.

                  Notwithstanding the foregoing, all Securities issued under
this Indenture shall vote and consent together on all matters (as to which any
of such Securities may vote or consent) as one class and no series of Securities
will have the right to vote or consent as a separate class on any matter.

                  The Trustee may appoint an authenticating agent reasonably
acceptable to the Company to authenticate Securities. Unless otherwise provided
in the appointment, an authenticating agent may authenticate Securities whenever
the Trustee may do so. Each reference in this Indenture to authentication by the
Trustee includes authentication by such agent. An authenticating agent shall
have the same rights as an Agent to deal with the Company and Affiliates of the
Company.

                  The Securities shall be issuable only in registered form
without coupons in denominations of $1,000 and any integral multiple thereof.

<PAGE>

                                      -19-

SECTION 2.03.           Registrar and Paying Agent.

                  The Company shall maintain an office or agency, which may be
in the Borough of Manhattan, The City of New York, where (a) Securities may be
presented or surrendered for registration of transfer or for exchange (the
"Registrar"), (b) Securities may be presented or surrendered for payment (the
"Paying Agent") and (c) notices and demands in respect of the Securities and
this Indenture may be served. The Registrar shall keep a register of the
Securities and of their transfer and exchange. The Company, upon notice to the
Trustee, may appoint one or more co-Registrars and one or more additional Paying
Agents. The term "Paying Agent" includes any additional Paying Agent. Except as
provided herein, the Company may act as Paying Agent, Registrar or co-Registrar.

                  The Company shall enter into an appropriate agency agreement
with any Agent not a party to this Indenture, which shall incorporate the
provisions of the TIA. The agreement shall implement the provisions of this
Indenture that relate to such Agent. The Company shall notify the Trustee of the
name and address of any such Agent. If the Company fails to maintain a Registrar
or Paying Agent, or fails to give the foregoing notice, the Trustee shall act as
such and shall be entitled to appropriate compensation in accordance with
Section 8.07.

                  The Company initially appoints the Trustee as Registrar and
Paying Agent until such time as the Trustee has resigned or a successor has been
appointed.

SECTION 2.04.           Paying Agent To Hold Assets in Trust.

                  The Company shall require each Paying Agent other than the
Trustee to agree in writing that each Paying Agent shall hold in trust for the
benefit of Holders or the Trustee all assets held by the Paying Agent for the
payment of principal of, or interest on, the Securities, and shall notify the
Trustee of any Default by the Company in making any such payment. The Company at
any time may require a Paying Agent to distribute all assets held by it to the
Trustee and account for any assets disbursed and the Trustee may at any time
during the continuance of any payment Default, upon written request to a Paying
Agent, require such Paying Agent to distribute all assets held by it to the
Trustee and to account for any assets distributed. Upon distribution to the
Trustee of all assets that shall have been delivered by the Company to the
Paying Agent (if other than the Company), the Paying Agent shall have no further
liability for such assets. If the Company or any of their Affiliates acts as
Paying Agent, it shall, on or before each due date of the principal of or
interest on the Securities, segregate and hold in trust for the benefit of the
Persons entitled thereto a sum sufficient to pay the principal or interest so
becoming due until such sums shall be paid to such Persons or otherwise disposed
of as herein provided and will promptly notify the Trustee of its action or
failure so to act.

SECTION 2.05.           Holder Lists.

                  The Trustee shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and
addresses of Holders. If the Trustee is not the Registrar, the Company shall
furnish to the Trustee before each Interest Record Date and at such other times
as the Trustee may request in writing a list as of such date and in such form as
the Trustee may reasonably require of the names and addresses of Holders, which
list may be conclusively relied upon by the Trustee.

SECTION 2.06.           Transfer and Exchange.

                  Subject to the provisions of Sections 2.15 and 2.16, when
Securities are presented to the Registrar or a co-Registrar with a request to
register the transfer of such Securities or to exchange such Securities for an
equal principal amount of Securities of other authorized denominations of the
same series, the Registrar or

<PAGE>

                                      -20-

co-Registrar shall register the transfer or make the exchange as requested if
its requirements for such transaction are met; provided, however, that the
Securities surrendered for transfer or exchange shall be duly endorsed or
accompanied by a written instrument of transfer in form satisfactory to the
Company and the Registrar or co-Registrar, duly executed by the Holder thereof
or his attorney duly authorized in writing. To permit registrations of transfers
and exchanges, the Company shall execute and the Trustee shall authenticate
Securities at the Registrar's or co-Registrar's written request. No service
charge shall be made for any registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any transfer tax or
similar governmental charge payable in connection therewith (other than any such
transfer taxes or other governmental charge payable upon exchanges or transfers
pursuant to Section 2.02, 2.10, 3.06, or 10.05). The Registrar or co-Registrar
shall not be required to register the transfer or exchange of any Security (i)
during a period beginning at the opening of business 15 days before the mailing
of a notice of redemption of Securities and ending at the close of business on
the day of such mailing and (ii) selected for redemption in whole or in part
pursuant to Article Three hereof, except the unredeemed portion of any Security
being redeemed in part.

                  Prior to the registration of any transfer by a Holder as
provided herein, the Company, the Trustee and any Agent of the Company shall
treat the person in whose name the Security is registered as the owner thereof
for all purposes whether or not the Security shall be overdue, and none of the
Company, the Trustee nor any such Agent shall be affected by notice to the
contrary. Any consent, waiver or actions of a Holder shall be binding upon any
subsequent Holders of such Security or a Security received upon transfer. Any
Holder of a beneficial interest in a Global Security shall, by acceptance of
such beneficial interest in a Global Security, agree that transfers of
beneficial interests in such Global Security may be effected only through a
book-entry system maintained by the Depository (or its agent), and that
ownership of a beneficial interest in a Global Security shall be required to be
reflected in a book entry.

SECTION 2.07.           Replacement Securities.

                  If a mutilated Security is surrendered to the Trustee or if
the Holder of a Security claims that the Security has been lost, destroyed or
wrongfully taken, the Company shall issue and the Trustee shall authenticate a
replacement Security if the Trustee's requirements for replacement of Securities
are met. If required by the Company or the Trustee, such Holder must provide an
indemnity bond or other indemnity, sufficient in the judgment of the Company and
the Trustee, to protect the Company, the Trustee and any Agent from any loss
which any of them may suffer if a Security is replaced. The Company may charge
such Holder for their reasonable out-of-pocket expenses in replacing a Security,
including reasonable fees and expenses of counsel.

                  Every replacement Security is an additional obligation of the
Company.

SECTION 2.08.           Outstanding Securities.

                  Securities outstanding at any time are all the Securities that
have been authenticated by the Trustee except those canceled by it, those
delivered to it for cancellation and those described in this Section 2.08 as not
outstanding. Subject to Section 2.09, a Security does not cease to be
outstanding because the Company or any Affiliates of the Company holds the
Security.

                  If a Security is replaced pursuant to Section 2.07 (other than
a mutilated Security surrendered for replacement), it ceases to be outstanding
unless the Trustee receives proof satisfactory to it that the replaced Security
is held by a bona fide purchaser. A mutilated Security ceases to be outstanding
upon surrender of such Security and replacement thereof pursuant to Section
2.07.

<PAGE>

                                      -21-

                  If on a Redemption Date or the Final Maturity Date the Paying
Agent holds money sufficient to pay all of the principal and interest due on the
Securities payable on that date, and is not prohibited from paying such money to
the Holders pursuant to the terms of this Indenture, then on and after that date
such Securities cease to be outstanding and interest on them ceases to accrue.

SECTION 2.09.           Treasury Securities.

                  In determining whether the Holders of the required principal
amount of Securities have concurred in any direction, waiver or consent,
Securities owned by the Company, the Guarantors or any of their respective
Affiliates shall be disregarded, except that, for the purposes of determining
whether the Trustee shall be protected in relying on any such direction, waiver
or consent, only Securities that a Trust Officer of the Trustee actually knows
are so owned shall be disregarded.

                  The Company shall notify the Trustee, in writing, when the
Company or any of its respective Affiliates repurchases or otherwise acquires
Securities, of the aggregate principal amount of such Securities so repurchased
or otherwise acquired.

SECTION 2.10.           Temporary Securities.

                  Until definitive Securities are ready for delivery, the
Company may prepare and the Trustee shall authenticate temporary Securities upon
receipt of a written order of the Company in the form of an Officers'
Certificate. The Officers' Certificate shall specify the amount of temporary
Securities to be authenticated and the date on which the temporary Securities
are to be authenticated.

                  Temporary Securities shall be substantially in the form of
definitive Securities but may have variations that the Company considers
appropriate for temporary Securities. Without unreasonable delay, the Company
shall prepare and the Trustee shall authenticate upon receipt of a written order
of the Company pursuant to Section 2.02 definitive Securities in exchange for
temporary Securities.

SECTION 2.11.           Cancellation.

                  The Company at any time may deliver Securities to the Trustee
for cancellation. The Registrar and the Paying Agent shall forward to the
Trustee any Securities surrendered to them for transfer, exchange or payment.
The Trustee, or at the direction of the Trustee, the Registrar or the Paying
Agent, and no one else, shall cancel, and at the written direction of the
Company, dispose of and deliver evidence of such disposal of all Securities
surrendered for transfer, exchange, payment or cancellation. Subject to Section
2.07, the Company may not issue new Securities to replace Securities that they
have paid or delivered to the Trustee for cancellation. If the Company shall
acquire any of the Securities, such acquisition shall not operate as a
redemption or satisfaction of the Indebtedness represented by such Securities
unless and until the same are surrendered to the Trustee for cancellation
pursuant to this Section 2.11.

SECTION 2.12.           Defaulted Interest.

                  The Company shall pay interest on overdue principal from time
to time on demand at the rate of interest then borne by the Securities. The
Company shall, to the extent lawful, pay interest on overdue installments of
interest (without regard to any applicable grace periods) from time to time on
demand at the rate of interest then borne by the Securities.

<PAGE>

                                      -22-

                  If the Company defaults in a payment of interest on the
Securities, it shall pay the defaulted interest, plus (to the extent lawful) any
interest payable on the defaulted interest to the Persons who are Holders on a
subsequent special record date, which date shall be the fifteenth day preceding
the date fixed by the Company for the payment of defaulted interest or the next
succeeding Business Day if such date is not a Business Day. At least 15 days
before the subsequent special record date, the Company shall mail to each
Holder, with a copy to the Trustee, a notice that states the subsequent special
record date, the payment date and the amount of defaulted interest, and interest
payable on such defaulted interest, if any, to be paid.

                  Notwithstanding the foregoing, any interest which is paid
prior to the expiration of the 30-day period set forth in Section 6.01(a) shall
be paid to Holders as of the Interest Record Date for the Interest Payment Date
for which interest has not been paid.

SECTION 2.13.           CUSIP Number.

                  The Company in issuing the Securities will use a "CUSIP"
number and the Trustee shall use the CUSIP number in notices of redemption or
exchange as a convenience to Holders; provided, however, that any such notice
may state that no representation is made as to the correctness or accuracy of
the CUSIP number printed in the notice or on the Securities, and that reliance
may be placed only on the other identification numbers printed on the
Securities. The Company shall promptly notify the Trustee of any changes in
CUSIP numbers.

SECTION 2.14.           Deposit of Moneys.

                  Prior to 11:00 a.m. New York City time on each Interest
Payment Date, Redemption Date, and the Final Maturity Date, the Company shall
deposit with the Paying Agent in immediately available funds money sufficient to
make cash payments, if any, due on such Interest Payment Date, Redemption Date
or Final Maturity Date, as the case may be, in a timely manner which permits the
Paying Agent to remit payment to the Holders on such Interest Payment Date,
Redemption Date or Final Maturity Date, as the case may be.

SECTION 2.15.           Book-Entry Provisions for Global Securities.

                  (a) The Global Securities initially shall (i) be registered in
the name of the Depository or the nominee of such Depository, (ii) be delivered
to the Trustee as custodian for such Depository and (iii) bear legends as set
forth in Exhibit C.

                  Members of, or participants in, the Depository
("Participants") shall have no rights under this Indenture with respect to any
Global Security held on their behalf by the Depository, or the Trustee as its
custodian, or under the Global Security, and the Depository may be treated by
the Company, the Trustee and any agent of the Company or the Trustee as the
absolute owner of the Global Security for all purposes whatsoever.
Notwithstanding the foregoing, nothing herein shall prevent the Company, the
Trustee or any agent of the Company or the Trustee from giving effect to any
written certification, proxy or other authorization furnished by the Depository
or impair, as between the Depository and Participants, the operation of
customary practices governing the exercise of the rights of a Holder of any
Security.

                  (b) Transfers of Global Securities shall be limited to
transfers in whole, but not in part, to the Depository, its successors or their
respective nominees. Interests of beneficial owners in the Global Securities may
be transferred or exchanged for Physical Securities in accordance with the rules
and procedures of the Depository and the provisions of Section 2.16; provided,
however, that Physical Securities shall be transferred to all beneficial owners
in exchange for their beneficial interests in Global Securities only if (i) the
Depository notifies the Company that it is unwilling or unable to continue as
Depository for any Global Security and a

<PAGE>

                                      -23-

successor Depository is not appointed by the Company within 90 days of such
notice or (ii) an Event of Default has occurred and is continuing and the
Registrar has received a request from the Depository to issue Physical
Securities.

                  (c) In connection with the transfer of Global Securities as an
entirety to beneficial owners pursuant to paragraph (b) of this Section 2.15,
the Global Securities shall be deemed to be surrendered to the Trustee for
cancellation, and the Company shall execute, and the Trustee shall upon written
instructions from the Company authenticate and deliver, to each beneficial owner
identified by the Depository in exchange for its beneficial interest in the
Global Securities, an equal aggregate principal amount of Physical Securities of
authorized denominations.

                  (d) Any Physical Security constituting a Restricted Security
delivered in exchange for an interest in a Global Security pursuant to paragraph
(c) of this Section 2.15 shall, except as otherwise provided by Section 2.16,
bear the Private Placement Legend.

                  (e) The Holder of any Global Security may grant proxies and
otherwise authorize any Person, including Participants and Persons that may hold
interests through Participants, to take any action which a Holder is entitled to
take under this Indenture or the Securities.

SECTION 2.16.           Registration of Transfers and Exchanges.

                  (a) Transfer and Exchange of Physical Securities. When
Physical Securities are presented to the Registrar or co-Registrar with a
request:

                      (i)      to register the transfer of the Physical
         Securities; or

                      (ii)     to exchange such Physical Securities for an equal
         principal amount of Physical Securities of other authorized
         denominations,

the Registrar or co-Registrar shall register the transfer or make the exchange
as requested if the requirements under this Indenture as set forth in this
Section 2.16 for such transactions are met; provided, however, that the Physical
Securities presented or surrendered for registration of transfer or exchange:

                  (I)      shall be duly endorsed or accompanied by a written
         instrument of transfer in form satisfactory to the Registrar or
         co-Registrar, duly executed by the Holder thereof or his attorney duly
         authorized in writing; and

                  (II)     in the case of Physical Securities the offer and sale
         of which have not been registered under the Securities Act, such
         Physical Securities shall be accompanied, in the sole discretion of the
         Company, by the following additional information and documents, as
         applicable:

                  (A)      if such Physical Security is being delivered to the
                           Registrar or co-Registrar by a Holder for
                           registration in the name of such Holder, without
                           transfer, a certification from such Holder to that
                           effect (substantially in the form of Exhibit D
                           hereto); or

                  (B)      if such Physical Security is being transferred to a
                           QIB in accordance with Rule 144A, a certification to
                           that effect (substantially in the form of Exhibit D
                           hereto); or

<PAGE>

                                      -24-

                  (C)      if such Physical Security is being transferred to an
                           Institutional Accredited Investor, delivery of a
                           certification to that effect (substantially in the
                           form of Exhibit D hereto) and a transferee letter of
                           representation (substantially in the form of Exhibit
                           E hereto) and, at the option of the Company, an
                           Opinion of Counsel reasonably satisfactory to the
                           Company to the effect that such transfer is in
                           compliance with the Securities Act; or

                  (D)      if such Physical Security is being transferred in
                           reliance on Rule 144 under the Securities Act,
                           delivery of a certification to that effect
                           (substantially in the form of Exhibit D hereto) and,
                           at the option of the Company, an Opinion of Counsel
                           reasonably satisfactory to the Company to the effect
                           that such transfer is in compliance with the
                           Securities Act; or

                  (E)      if such Physical Security is being transferred in
                           reliance on Regulation S, delivery of a certification
                           to that effect (substantially in the form of Exhibit
                           D hereto) and a transferor certificate for Regulation
                           S transfers (substantially in the form of Exhibit F
                           hereto) and, at the option of the Company, an Opinion
                           of Counsel reasonably satisfactory to the Company to
                           the effect that such transfer is in compliance with
                           the Securities Act; or

                  (F)      if such Physical Security is being transferred in
                           reliance on another exemption from the registration
                           requirements of the Securities Act, a certification
                           to that effect (substantially in the form of Exhibit
                           D hereto) and, at the option of the Company, an
                           Opinion of Counsel reasonably acceptable to the
                           Company to the effect that such transfer is in
                           compliance with the Securities Act.

                  (b) Restrictions on Transfer of a Physical Security for a
Beneficial Interest in a Global Security. A Physical Security the offer and sale
of which has not been registered under the Securities Act may not be exchanged
for a beneficial interest in a Global Security except upon satisfaction of the
requirements set forth below. Upon receipt by the Registrar or co-Registrar of a
Physical Security, duly endorsed or accompanied by appropriate instruments of
transfer, in form satisfactory to the Registrar or co-Registrar, together with:

                  (A)      certification, substantially in the form of Exhibit D
                           hereto, that such Physical Security is being
                           transferred (I) to a QIB, (II) to an Institutional
                           Accredited Investor or (III) in an offshore
                           transaction in reliance on Regulation S and, with
                           respect to (II) or (III), at the option of the
                           Company, an Opinion of Counsel reasonably acceptable
                           to the Company to the effect that such transfer is in
                           compliance with the Securities Act; and

                  (B)      written instructions directing the Registrar or
                           co-Registrar to make, or to direct the Depository to
                           make, an endorsement on the applicable Global
                           Security to reflect an increase in the aggregate
                           amount of the Securities represented by the Global
                           Security,

then the Registrar or co-Registrar shall cancel such Physical Security and
cause, or direct the Depository to cause, in accordance with the standing
instructions and procedures existing between the Depository and the Registrar or
co-Registrar, the principal amount of Securities represented by the applicable
Global Security to be increased accordingly. If no 144A Global Security, IAI
Global Security or Regulation S Global Security, as the case may be, is then
outstanding, the Company shall, unless either of the events in the proviso to
Section 2.15(b) have occurred and are continuing, issue and the Trustee shall,
upon written instructions from the Company in accordance with Section 2.02,
authenticate such a Global Security in the appropriate principal amount.

<PAGE>

                                      -25-

                  (c) Transfer and Exchange of Global Securities. The transfer
and exchange of Global Securities or beneficial interests therein shall be
effected through the Depository in accordance with this Indenture (including the
restrictions on transfer set forth herein) and the procedures of the Depository
therefor. Upon receipt by the Registrar or Co-Registrar of written instructions,
or such other instruction as is customary for the Depository, from the
Depository or its nominee, requesting the registration of transfer of an
interest in a 144A Global Security, an IAI Global Security or a Regulation S
Global Security, as the case may be, to another type of Global Security,
together with the applicable Global Securities (or, if the applicable type of
Global Security required to represent the interest as requested to be obtained
is not then outstanding, only the Global Security representing the interest
being transferred), the Registrar or Co-Registrar shall reflect on its books and
records (and the applicable Global Security) the applicable increase and
decrease of the principal amount of Securities represented by such types of
Global Securities, giving effect to such transfer. If the applicable type of
Global Security required to represent the interest as requested to be obtained
is not outstanding at the time of such request, the Company shall issue and the
Trustee shall, upon written instructions from the Company in accordance with
Section 2.02, authenticate a new Global Security of such type in principal
amount equal to the principal amount of the interest requested to be
transferred.

                  (d) Transfer of a Beneficial Interest in a Global Security for
a Physical Security.

                      (i)      Any Person having a beneficial interest in a
Global Security may upon request exchange such beneficial interest for a
Physical Security; provided, however, that prior to the Registration, a
transferee that is a QIB or Institutional Accredited Investor may not exchange a
beneficial interest in Global Security for a Physical Security. Upon receipt by
the Registrar or co-Registrar of written instructions, or such other form of
instructions as is customary for the Depository, from the Depository or its
nominee on behalf of any Person having a beneficial interest in a Global
Security and upon receipt by the Trustee of a written order or such other form
of instructions as is customary for the Depository or the Person designated by
the Depository as having such a beneficial interest containing registration
instructions and, in the case of any such transfer or exchange of a beneficial
interest in Securities the offer and sale of which have not been registered
under the Securities Act, the following additional information and documents:

                  (A)      if such beneficial interest is being transferred in
                           reliance on Rule 144 under the Securities Act,
                           delivery of a certification to that effect
                           (substantially in the form of Exhibit D hereto) and,
                           at the option of the Company, an Opinion of Counsel
                           reasonably satisfactory to the Company to the effect
                           that such transfer is in compliance with the
                           Securities Act; or

                  (B)      if such beneficial interest is being transferred in
                           reliance on another exemption from the registration
                           requirements of the Securities Act, a certification
                           to that effect (substantially in the form of Exhibit
                           D hereto) and, at the option of the Company, an
                           Opinion of Counsel reasonably satisfactory to the
                           Company to the effect that such transfer is in
                           compliance with the Securities Act,

then the Registrar or co-Registrar will cause, in accordance with the standing
instructions and procedures existing between the Depository and the Registrar or
co-Registrar, the aggregate principal amount of the applicable Global Security
to be reduced and, following such reduction, the Company will execute and, upon
receipt of an authentication order in the form of an Officers' Certificate in
accordance with Section 2.02, the Trustee will authenticate and deliver to the
transferee a Physical Security in the appropriate principal amount.

                      (ii)     Securities issued in exchange for a beneficial
interest in a Global Security pursuant to this Section 2.16(d) shall be
registered in such names and in such authorized denominations as the Depository,

<PAGE>

                                      -26-

pursuant to instructions from its direct or indirect participants or otherwise,
shall instruct the Registrar or co-Registrar in writing. The Registrar or
co-Registrar shall deliver such Physical Securities to the Persons in whose
names such Physical Securities are so registered.

                  (e) Restrictions on Transfer and Exchange of Global
Securities. Notwithstanding any other provisions of this Indenture, a Global
Security may not be transferred as a whole except by the Depository to a nominee
of the Depository or by a nominee of the Depository to the Depository or another
nominee of the Depository or by the Depository or any such nominee to a
successor Depository or a nominee of such successor Depository.

                  (f) Private Placement Legend. Upon the transfer, exchange or
replacement of Securities not bearing the Private Placement Legend, the
Registrar or co-Registrar shall deliver Securities that do not bear the Private
Placement Legend. Upon the transfer, exchange or replacement of Securities
bearing the Private Placement Legend, the Registrar or co-Registrar shall
deliver only Securities that bear the Private Placement Legend unless, and the
Trustee is hereby authorized to deliver Securities without the Private Placement
Legend if, (i) there is delivered to the Trustee an Opinion of Counsel
reasonably satisfactory to the Company and the Trustee to the effect that
neither such legend nor the related restrictions on transfer are required in
order to maintain compliance with the provisions of the Securities Act; (ii)
such Security has been sold pursuant to an effective registration statement
under the Securities Act (including pursuant to a Registration); or (iii) the
date of such transfer, exchange or replacement is two years after the later of
(x) the Issue Date and (y) the last date that the Company or any affiliate (as
defined in Rule 144 under the Securities Act) of the Company was the owner of
such Securities (or any predecessor thereto).

                  (g) General. By its acceptance of any Security bearing the
Private Placement Legend, each Holder of such a Security acknowledges the
restrictions on transfer of such Security set forth in this Indenture and in the
Private Placement Legend and agrees that it will transfer such Security only as
provided in this Indenture.

                  The Trustee shall have no obligation or duty to monitor,
determine or inquire as to compliance with any restrictions on transfer imposed
under this Indenture or under applicable law with respect to any transfer of any
interest in any Security (including any transfers between or among Participants
or beneficial owners of interest in any Global Security) other than to require
delivery of such certificates and other documentation or evidence as are
expressly required by, and to do so if and when expressly required by the terms
of, this Indenture, and to examine the same to determine substantial compliance
as to form with the express requirements hereof.

                  The Registrar shall retain copies of all letters, notices and
other written communications received pursuant to Section 2.15 or this Section
2.16. The Company shall have the right to inspect and make copies of all such
letters, notices or other written communications at any reasonable time upon the
giving of reasonable written notice to the Registrar.

SECTION 2.17.           Issuance of Additional Securities.

                  The Company shall be entitled to issue Additional Securities
under this Indenture which shall have identical terms as the Securities issued
on the Issue Date, other than with respect to the date of issuance, issue price
and amount of interest payable on the first payment date applicable thereto
(and, if such Additional Securities shall be issued in the form of Exchange
Securities, other than with respect to transfer restrictions); provided that
such issuance is not prohibited by Section 4.04. The Initial Securities issued
on the Issue Date, any Additional Securities and all Exchange Securities or
Private Exchange Securities issued in exchange therefor shall be treated as a
single class for all purposes under this Indenture.

<PAGE>

                                      -27-

                  With respect to any Additional Securities, the Company shall
set forth in a Board Resolution and in an Officers' Certificate, a copy of each
of which shall be delivered to the Trustee, the following information:

                  (1)      the aggregate principal amount of such Additional
         Securities to be authenticated and delivered pursuant to this
         Indenture;

                  (2)      the issue price, the issue date and the CUSIP number
         of such Additional Securities and the amount of interest payable on the
         first payment date applicable thereto; and

                  (3)      whether such Additional Securities shall be
         Restricted Securities and issued in the form of Initial Securities or
         shall be registered securities issued in the form of Unrestricted
         Securities.

                                  ARTICLE THREE

                                   REDEMPTION

SECTION 3.01.           Notices to Trustee.

                  If the Company elects to redeem Securities pursuant to
paragraph 5 of the Securities at the applicable redemption price set forth
thereon, it shall notify the Trustee in writing of the Redemption Date and the
principal amount of Securities to be redeemed. The Company shall give such
notice to the Trustee at least 45 days before the Redemption Date (unless a
shorter notice shall be agreed to by the Trustee in writing), together with an
Officers' Certificate stating that such redemption will comply with the
conditions contained herein.

SECTION 3.02.           Selection of Securities To Be Redeemed.

                  If less than all of the Securities are to be redeemed pursuant
to paragraph 5 of the Securities, the Trustee shall select the Securities to be
redeemed in compliance with the requirements of the national securities
exchange, if any, on which the Securities are listed or, in the absence of such
requirements or if the Securities are not then listed on a national securities
exchange, on a pro rata basis, by lot or in such other manner as may be required
pursuant to this Indenture or otherwise as the Trustee shall deem fair and
appropriate. Selection of the Securities to be redeemed pursuant to paragraph
5(b) of the Securities shall be made by the Trustee only on a pro rata basis or
on as nearly a pro rata basis as is practicable (subject to the procedures of
the Depository) based on the aggregate principal amount of Securities held by
each Holder. The Trustee shall make the selection from the Securities then
outstanding, subject to redemption and not previously called for redemption.

                  The Trustee may select for redemption pursuant to paragraph 5
of the Securities portions of the principal amount of Securities that have
denominations equal to or larger than $1,000 principal amount. Securities and
portions of them the Trustee so selects shall be in amounts of $1,000 principal
amount or integral multiples thereof. Provisions of this Indenture that apply to
Securities called for redemption also apply to portions of Securities called for
redemption.

<PAGE>

                                      -28-

SECTION 3.03.           Notice of Redemption.

                  At least 30 days but not more than 60 days before a Redemption
Date, the Company shall mail a notice of redemption by first-class mail to each
Holder whose Securities are to be redeemed at such Holder's registered address;
provided, however, that notice of a redemption pursuant to paragraph 5(b) of the
Securities shall be mailed to each Holder whose Securities are to be redeemed no
later than 60 days after the date of the closing of the relevant Equity Offering
of the Company.

                  Each notice of redemption shall identify the Securities to be
redeemed (including the CUSIP number thereon) and shall state:

                  (1)      the Redemption Date;

                  (2)      the redemption price;

                  (3)      the name and address of the Paying Agent to which the
         Securities are to be surrendered for redemption;

                  (4)      that Securities called for redemption must be
         surrendered to the Paying Agent to collect the redemption price;

                  (5)      that, as long as the Company has deposited with the
         Paying Agent funds in satisfaction of the applicable redemption price
         pursuant to this Indenture, interest on Securities called for
         redemption ceases to accrue on and after the Redemption Date and the
         only remaining right of the Holders is to receive payment of the
         redemption price upon surrender to the Paying Agent;

                  (6)      in the case of any redemption pursuant to paragraph 5
         of the Securities, if any Security is being redeemed in part, the
         portion of the principal amount of such Security to be redeemed and
         that, after the Redemption Date, upon surrender of such Security, a new
         Security or Securities in principal amount equal to the unredeemed
         portion thereof will be issued;

                  (7)      the subparagraph of the Securities pursuant to which
         such redemption is being made; and

                  (8)      that no representation is made as to the accuracy of
         the CUSIP number listed in such notice or printed on such Security.

                  At the Company's request, the Trustee shall give the notice of
redemption on behalf of the Company, in the Company's name and at the Company's
expense.

SECTION 3.04.           Effect of Notice of Redemption.

                  Once a notice of redemption is mailed, Securities called for
redemption become due and payable on the Redemption Date and at the redemption
price. Upon surrender to the Paying Agent, such Securities shall be paid at the
redemption price, plus accrued interest thereon, if any, to the Redemption Date,
but interest installments whose maturity is on or prior to such Redemption Date
shall be payable to the Holders of record at the close of business on the
relevant Interest Record Date.

<PAGE>

                                      -29-

SECTION 3.05.           Deposit of Redemption Price.

                  At least one Business Day before the Redemption Date, the
Company shall deposit with the Paying Agent (or if the Company is its own Paying
Agent, it shall, on or before the Redemption Date, segregate and hold in trust)
money sufficient to pay the redemption price of and accrued interest, if any, on
all Securities to be redeemed on that date other than Securities or portions
thereof called for redemption on that date which have been delivered by the
Company to the Trustee for cancellation.

                  If any Security surrendered for redemption in the manner
provided in the Securities shall not be so paid on the Redemption Date due to
the failure of the Company to deposit with the Paying Agent money sufficient to
pay the redemption price thereof, the principal and accrued and unpaid interest,
if any, thereon shall, until paid or duly provided for, bear interest as
provided in Sections 2.12 and 4.01 with respect to any payment default.

SECTION 3.06.           Securities Redeemed in Part.

                  Upon surrender of a Security that is redeemed in part, the
Trustee shall authenticate for the Holder a new Security equal in principal
amount to the unredeemed portion of the Security surrendered.

                                  ARTICLE FOUR

                                    COVENANTS

SECTION 4.01.           Payment of Securities.

                  The Company shall pay the principal of and interest on the
Securities in the manner provided in the Securities and the Registration Rights
Agreement. An installment of principal or interest shall be considered paid on
the date due if the Trustee or Paying Agent (other than the Company or any
Affiliates of the Company) holds on that date money designated for and
sufficient to pay the installment in full and is not prohibited from paying such
money to the Holders of the Securities pursuant to the terms of this Indenture.

                  The Company shall pay cash interest on overdue principal at
the same rate per annum borne by the Securities. The Company shall pay cash
interest on overdue installments of interest at the same rate per annum borne by
the Securities, to the extent lawful, as provided in Section 2.12.

SECTION 4.02.           Maintenance of Office or Agency.

                  The Company shall give prompt written notice to the Trustee of
the location, and any change in the location, of any office or agency required
by Section 2.03. If at any time the Company shall fail to maintain any such
required office or agency or shall fail to furnish the Trustee with the address
thereof, such presentations, surrenders, notices and demands may be made or
served at the address of the Trustee set forth in Section 13. The Company hereby
initially designates the Trustee at its address set forth in Section 13.02 as
its office or agency in The Borough of Manhattan, The City of New York, for such
purposes.

<PAGE>

                                      -30-

SECTION 4.03.           Limitation on Transactions with Affiliates.

                  The Company shall not, and shall not permit any of its
Restricted Subsidiaries to, directly or indirectly, enter into or permit to
exist any transaction (including, without limitation, the purchase, sale, lease,
contribution or exchange of any property or the rendering of any service) with
or for the benefit of any of its Affiliates (other than transactions between the
Company and a Restricted Subsidiary of the Company or among Restricted
Subsidiaries of the Company) (an "Affiliate Transaction"), other than Affiliate
Transactions on terms that are no less favorable than those that might
reasonably have been obtained in a comparable transaction on an arm's-length
basis from a person that is not an Affiliate; provided, however, that for a
transaction or series of related transactions involving value of $5,000,000 or
more, such determination shall be made in good faith by a majority of members of
the Board of Directors of the Company and by a majority of the disinterested
members of the Board of Directors of the Company, if any; provided, further,
that for a transaction or series of related transactions involving value of
$15,000,000 or more, the Board of Directors of the Company has received an
opinion from an independent investment banking firm of nationally recognized
standing that such Affiliate Transaction is fair, from a financial point of
view, to the Company or such Restricted Subsidiary. The foregoing restrictions
shall not apply to (1) reasonable and customary directors' fees, indemnification
and similar arrangements and payments thereunder; (2) any obligations of the
Company under any employment agreement, noncompetition or confidentiality
agreement with any officer of the Company, as in effect on the Issue Date
(provided that each amendment of any of the foregoing agreements shall be
subject to the limitations of this covenant); (3) any Restricted Payment
permitted to be made pursuant Section 4.10; (4) any issuance of securities, or
other payments, awards or grants in cash, securities or otherwise pursuant to,
or the funding of, employment arrangements, stock options and stock ownership
plans approved by the Board of Directors of the Company; (5) loans or advances
to employees in the ordinary course of business of the Company or any of its
Restricted Subsidiaries consistent with past practices; and (6) payments by the
Company to Hicks Muse Partners in accordance with the terms of the Financial
Advisory Agreement.

SECTION 4.04.           Limitation on Incurrence of Additional Indebtedness and
                        Issuance of Capital Stock.

                  (a) The Company shall not, and shall not permit any of its
Restricted Subsidiaries to, directly or indirectly, create, incur, assume,
guarantee or otherwise become directly or indirectly liable, contingently or
otherwise, with respect to (collectively, "incur") any Indebtedness (other than
Permitted Indebtedness) and the Company shall not issue any Disqualified Capital
Stock and its Restricted Subsidiaries shall not issue any Preferred Stock
(except Preferred Stock issued to the Company or a Restricted Subsidiary of the
Company so long as it is so held); provided, however, that the Company and its
Restricted Subsidiaries that are Guarantors may incur Indebtedness or issue
shares of such Capital Stock if, in either case, the Company's Leverage Ratio at
the time of incurrence of such Indebtedness or the issuance of such Capital
Stock, as the case may be, after giving pro forma effect to such incurrence or
issuance as of such date and to the use of proceeds therefrom is less than 7.0
to 1.

                  (b) The Company shall not incur or suffer to exist, or permit
any of its Restricted Subsidiaries to incur or suffer to exist, any Obligations
with respect to an Unrestricted Subsidiary that would violate the provisions set
forth in the definition of Unrestricted Subsidiary.

SECTION 4.05.           Limitation on Layering.

                  The Company shall not incur any Indebtedness if such
Indebtedness is subordinate or junior in ranking in any respect to any Senior
Indebtedness unless such Indebtedness is Senior Subordinated Indebtedness or is
contractually subordinated in right of payment to all Senior Subordinated
Indebtedness (including the Securities).

<PAGE>

                                      -31-

SECTION 4.06.           Payments for Consents.

                  Neither the Company nor any of its Subsidiaries shall,
directly or indirectly, pay or cause to be paid any consideration, whether by
way of interest, fee or otherwise, to any Holder of any Securities for or as an
inducement to any consent, waiver or amendment of any of the terms or provisions
of this Indenture or the Securities unless such consideration is offered to be
paid or is paid to all Holders of the Securities that consent, waive or agree to
amend in the time frame set forth in the solicitation documents relating to such
consent, waiver or agreement.

SECTION 4.07.           Limitation on Investment Company Status.

                  The Company and its Subsidiaries shall not take any action, or
otherwise permit to exist any circumstance, that would require the Company to
register as an "investment company" under the Investment Company Act of 1940, as
amended.

SECTION 4.08.           Limitation on Asset Sales.

                  The Company shall not, and shall not permit any of its
Restricted Subsidiaries to, consummate an Asset Sale unless (i) the Company or
the applicable Restricted Subsidiary, as the case may be, receives consideration
at the time of such Asset Sale at least equal to the fair market value of the
assets sold or otherwise disposed of (as determined in good faith by management
of the Company or, if such Asset Sale involves consideration in excess of
$10,000,000, by the board of directors of the Company, as evidenced by a board
resolution), (ii) at least 75% of the consideration received by the Company or
such Restricted Subsidiary, as the case may be, from such Asset Sale is in the
form of cash or Cash Equivalents and is received at the time of such disposition
and (iii) upon the consummation of an Asset Sale, the Company applies, or causes
such Restricted Subsidiary to apply, such Net Cash Proceeds within 360 days of
receipt thereof either (A) to repay any Senior Indebtedness of the Company or
any Indebtedness of a Restricted Subsidiary of the Company (and, to the extent
such Senior Indebtedness relates to principal under a revolving credit or
similar facility, to obtain a corresponding reduction in the commitments
thereunder, except that the Company may temporarily repay Senior Indebtedness
using the Net Cash Proceeds from such Asset Sale and thereafter use such funds
to reinvest pursuant to clause (B) below within the period set forth therein
without having to obtain a corresponding reduction in the commitments
thereunder), (B) to reinvest, or to be contractually committed to reinvest
pursuant to a binding agreement, in Productive Assets and, in the latter case,
to have so reinvested within 540 days of the date of receipt of such Net Cash
Proceeds or (C) to purchase Securities and other Senior Subordinated
Indebtedness, pro rata tendered to the Company for purchase at a price equal to
100% of the principal amount thereof (or the accreted value of such other Senior
Subordinated Indebtedness, if such other Senior Subordinated Indebtedness is
issued at a discount) plus accrued interest thereon, if any, to the date of
purchase pursuant to an offer to purchase made by the Company as set forth below
(a "Net Proceeds Offer"); provided, however, that the Company may defer making a
Net Proceeds Offer until the aggregate Net Cash Proceeds from Asset Sales not
otherwise applied in accordance with this covenant equal or exceed $15,000,000.

                  Subject to the deferral right set forth in the final proviso
of the preceding paragraph, each notice of a Net Proceeds Offer shall be mailed,
by first-class mail, to Holders not more than 360 days after the relevant Asset
Sale or, in the event the Company or a Restricted Subsidiary has entered into a
binding agreement as provided in (B) above, within 360 days following the
termination of such agreement but in no event later than 540 days after the
relevant Asset Sale. Such notice shall specify, among other things, the purchase
date (which shall be no earlier than 30 days nor later than 45 days from the
date such notice is mailed, except as otherwise required by law) and shall
otherwise comply with the procedures set forth in this Indenture. Upon receiving
notice of the Net Proceeds Offer, Holders may elect to tender their Securities
in whole or in part in integral

<PAGE>

                                      -32-

multiples of $1,000. To the extent Holders properly tender Securities in an
amount which, together with all other Senior Subordinated Indebtedness so
tendered, exceeds the Net Proceeds Offer, Securities and other Senior
Subordinated Indebtedness of tendering Holders shall be repurchased on a pro
rata basis (based upon the aggregate principal amount tendered, or, if
applicable, the aggregate accreted value tendered). To the extent that the
aggregate principal amount of Securities tendered pursuant to any Net Proceeds
Offer, which, together with the aggregate principal amount or aggregate accreted
value, as the case may be, of all other Senior Subordinated Indebtedness so
tendered, is less than the amount of Net Cash Proceeds subject to such Net
Proceeds Offer, the Company may use any remaining portion of such Net Cash
Proceeds not required to fund the repurchase of tendered Securities and other
Senior Subordinated Indebtedness for any purposes not otherwise prohibited by
this Indenture. Upon the consummation of any Net Proceeds Offer, the amount of
Net Cash Proceeds subject to any future Net Proceeds Offer from the Asset Sales
giving rise to such Net Cash Proceeds shall be deemed to be zero.

                  The Company shall comply with the requirements of Rule 14e-1
under the Exchange Act to the extent applicable in connection with the
repurchase of Securities pursuant to a Net Proceeds Offer.

SECTION 4.09.           Limitation on Asset Swaps.

                  The Company shall not, and shall not permit any Restricted
Subsidiary to, engage in any Asset Swap unless: (i) at the time of entering into
such Asset Swap, and immediately after giving effect to such Asset Swap, no
Default or Event of Default shall have occurred and be continuing, (ii) in the
event such Asset Swap involves an aggregate amount in excess of $10,000,000, the
terms of such Asset Swap have been approved by a majority of the members of the
Board of Directors of the Company and (iii) in the event such Asset Swap
involves an aggregate amount in excess of $50,000,000, the Company has received
a written opinion from an independent investment banking firm of nationally
recognized standing that such Asset Swap is fair to the Company or such
Restricted Subsidiary, as the case may be, from a financial point of view.

SECTION 4.10.           Limitation on Restricted Payments.

                  (a) The Company shall not, and shall not cause or permit any
of its Restricted Subsidiaries, to, directly or indirectly, make any Restricted
Payment if at the time of such Restricted Payment and immediately after giving
effect thereto:

                    (i)  a Default or Event of Default shall have occurred and
         be continuing; or

                    (ii) the Company is not able to incur $1.00 of additional
         Indebtedness (other than Permitted Indebtedness) in compliance with
         Section 4.04; or

                    (iii) the aggregate amount of Restricted Payments made
         subsequent to June 1, 2001 (the amount expended for such purposes, if
         other than in cash, being the fair market value of such property as
         determined by the Board of Directors of the Company in good faith)
         exceeds the sum of (a)(x) 100% of the aggregate Consolidated Cash Flow
         of the Company (or, in the event such Consolidated Cash Flow shall be a
         deficit, minus 100% of such deficit) accrued subsequent to June 1, 2001
         to the most recent date for which financial information is available to
         the Company, taken as one accounting period, less (y) 1.4 times
         Consolidated Interest Expense for the same period, plus (b) 100% of the
         aggregate net proceeds, including the fair market value of property
         other than cash as determined by the Board of Directors of the Company
         in good faith, received subsequent to June 1, 2001 by the Company from
         any Person (other than a Restricted Subsidiary of the Company) from the
         issuance and sale subsequent to June 1, 2001 of Qualified Capital Stock
         of the Company (excluding (i) any net proceeds from issuances and sales
         financed directly or indirectly using funds borrowed from the Company
         or any Restricted

<PAGE>

                                      -33-

         Subsidiary of the Company, until and to the extent such borrowing is
         repaid, but including the proceeds from the issuance and sale of any
         securities convertible into or exchangeable for Qualified Capital Stock
         to the extent such securities are so converted or exchanged and
         including any additional proceeds received by the Company upon such
         conversion or exchange and (ii) any net proceeds received from
         issuances and sales that are used to consummate a transaction described
         in clause (2) of paragraph (b) below), plus (c) without duplication of
         any amount included in clause (iii)(b) above, 100% of the aggregate net
         proceeds, including the fair market value of property other than cash
         (valued as provided in clause (iii)(b) above), received by the Company
         as a capital contribution subsequent to June 1, 2001, plus (d) the
         amount equal to the net reduction in Investments (other than Permitted
         Investments) made by the Company or any of its Restricted Subsidiaries
         in any Person resulting from, and without duplication, (i) repurchases
         or redemptions of such Investments by such Person, proceeds realized
         upon the sale of such Investment to an unaffiliated purchaser and
         repayments of loans or advances or other transfers of assets by such
         Person to the Company or any Restricted Subsidiary of the Company or
         (ii) the redesignation of Unrestricted Subsidiaries as Restricted
         Subsidiaries (valued in each case as provided in the definition of
         "Investment") not to exceed, in the case of any Restricted Subsidiary,
         the amount of Investments previously made by the Company or any of its
         Restricted Subsidiaries in such Unrestricted Subsidiary, which amount
         was included in the calculation of Restricted Payments; provided,
         however, that no amount shall be included under this clause (d) to the
         extent it is already included in Consolidated Cash Flow, plus (e) the
         aggregate net cash proceeds received by a Person in consideration for
         the issuance of such Person's Capital Stock (other than Disqualified
         Capital Stock) that are held by such Person at the time such Person is
         merged with and into the Company in accordance with Section 5.01
         subsequent to June 1, 2001; provided, however, that concurrently with
         or immediately following such merger the Company uses an amount equal
         to such net cash proceeds to redeem or repurchase the Company's Capital
         Stock, plus (f) $15,000,000.

                  (b) Notwithstanding the foregoing, these provisions will not
prohibit: (1) the payment of any dividend or the making of any distribution
within 60 days after the date of its declaration if such dividend or
distribution would have been permitted on the date of declaration; (2) the
purchase, redemption or other acquisition or retirement of any Capital Stock of
the Company or any warrants, options or other rights to acquire shares of any
class of such Capital Stock either (x) solely in exchange for shares of
Qualified Capital Stock or other rights to acquire Qualified Capital Stock or
(y) through the application of the net proceeds of a substantially concurrent
sale for cash (other than to a Restricted Subsidiary of the Company) of shares
of Qualified Capital Stock or warrants, options or other rights to acquire
Qualified Capital Stock or (z) in the case of Disqualified Capital Stock, solely
in exchange for, or through the application of the net proceeds of a
substantially concurrent sale for cash (other than to a Restricted Subsidiary of
the Company) of, Disqualified Capital Stock; (3) payments made pursuant to any
merger, consolidation or sale of assets effected in accordance with Section
5.01; provided, however, that no such payment may be made pursuant to this
clause (3) unless, after giving effect to such transaction (and the incurrence
of any Indebtedness in connection therewith and the use of the proceeds
thereof), the Company would be able to incur $1.00 of additional Indebtedness
(other than Permitted Indebtedness) in compliance with Section 4.04 such that
after incurring that $1.00 of additional Indebtedness, the Leverage Ratio would
be less than 6.0 to 1; (4) payments to enable LIN TV to pay dividends on its
Capital Stock (other than Disqualified Capital Stock) in an annual amount not to
exceed $21,770,000; (5) payments by the Company to fund the payment by any
company as to which the Company is, directly or indirectly, a Subsidiary (a
"Holding Company") of audit, accounting, legal or other similar expenses, to pay
franchise or other similar taxes and to pay other corporate overhead expenses,
so long as such dividends are paid as and when needed by its respective direct
or indirect Holding Company and so long as the aggregate amount of payments
pursuant to this clause (5) does not exceed $1,000,000 in any calendar year; (6)
payments by the Company to repurchase, or to enable a Holding Company to
repurchase, Capital Stock or other securities from employees of the Company or a
Holding

<PAGE>

                                      -34-

Company in an aggregate amount not to exceed $15,000,000 since June 1, 2001; (7)
payments by the Company to redeem or repurchase, or to enable a Holding Company
to redeem or repurchase, stock purchase or similar rights granted by the Company
or a Holding Company with respect to its Capital Stock in an aggregate amount
not to exceed $500,000 since June 1, 2001; (8) payments, not to exceed $200,000
in the aggregate since June 1, 2001, to enable the Company or a Holding Company
to make cash payments to holders of its Capital Stock in lieu of the issuance of
fractional shares of its Capital Stock; (9) payments by the Company to fund
taxes of a Holding Company for a given taxable year in an amount equal to the
Company's "separate return liability," as if the Company were the parent of a
consolidated group (for purposes of this clause (9) "separate return liability"
for a given taxable year shall mean the hypothetical United States tax liability
of the Company defined as if the Company had filed its own U.S. federal tax
return for such taxable year); and (10) payments by the Company to Hicks Muse
Partners in accordance with the terms of the Financial Advisory Agreement;
provided, however, that in the case of clauses (3), (4), (6), (7) and (8), no
Event of Default shall have occurred or be continuing at the time of such
payment or as a result thereof. In determining the aggregate amount of
Restricted Payments made subsequent to June 1, 2001, amounts expended pursuant
to clauses (1), (4), (6), (7) and (8) shall be included in such calculation.

SECTION 4.11.           Notice of Defaults.

                  (a) In the event that any Indebtedness of the Company or any
of its Subsidiaries is declared due and payable before its maturity because of
the occurrence of any default (or any event which, with notice or lapse of time,
or both, would constitute such a default) under such Indebtedness, the Company
shall promptly give written notice to the Trustee of such declaration, the
status of such default or event and what action the Company is taking or
proposes to take with respect thereto.

                  (b) Upon becoming aware of the occurrence and continuation of
any Default or Event of Default, the Company shall promptly deliver an Officers'
Certificate to the Trustee specifying the Default or Event of Default.

SECTION 4.12.           Reports.

                  So long as any of the Securities are outstanding, the Company
shall provide to the Trustee and the Holders and file with the Commission, to
the extent such submissions are accepted for filing by the Commission, copies of
the annual reports and of the information, documents and other reports that the
Company would have been required to file with the Commission pursuant to Section
13 or 15(d) of the Exchange Act, regardless of whether the Company is then
obligated to file such reports.

SECTION 4.13.           Limitations on Dividend and Other Payment Restrictions
                        Affecting Restricted Subsidiaries.

                  The Company shall not, and shall not permit any of its
Restricted Subsidiaries to, directly or indirectly, create or otherwise cause to
permit to exist or become effective, by operation of the charter of such
Restricted Subsidiary or by reason of any agreement, instrument, judgment,
decree, rule, order, statute or governmental regulation, any encumbrance or
restriction on the ability of any Restricted Subsidiary to (a) pay dividends or
make any other distributions on its Capital Stock; (b) make loans or advances or
pay any Indebtedness or other obligation owed to the Company or any of its
Restricted Subsidiaries; or (c) transfer any of its property or assets to the
Company, except for such encumbrances or restrictions existing under or by
reason of: (1) applicable law; (2) this Indenture; (3) customary nonassignment
provisions of any lease governing a leasehold interest of the Company or any
Restricted Subsidiary; (4) any instrument governing Acquired Indebtedness or
Acquired Preferred Stock, which encumbrance or restriction is not applicable to
any Person, or

<PAGE>

                                      -35-

the properties or assets of any Person, other than the Person, or the property
or assets of the Person, so acquired; (5) agreements existing on the Issue Date
(including the Credit Agreement and the Senior Notes) as such agreements are
from time to time in effect; provided, however, that any amendments or
modifications of such agreements that affect the encumbrances or restrictions
of the types subject to this covenant shall not result in such encumbrances or
restrictions being less favorable to the Company in any material respect, as
determined in good faith by the Board of Directors of the Company, than the
provisions as in effect before giving effect to the respective amendment or
modification; (6) any restriction with respect to such a Restricted Subsidiary
imposed pursuant to an agreement entered into for the sale or disposition of
all or substantially all the Capital Stock or assets of such Restricted
Subsidiary pending the closing of such sale or disposition; (7) an agreement
effecting a refinancing, replacement or substitution of Indebtedness issued,
assumed or incurred pursuant to an agreement referred to in clause (2), (4) or
(5) above or any other agreement evidencing Indebtedness permitted under this
Indenture; provided, however, that the provisions relating to such encumbrance
or restriction contained in any such refinancing, replacement or substitution
agreement or any such other agreement are no less favorable to the Company in
any material respect as determined in good faith by the Board of Directors of
the Company than the provisions relating to such encumbrance or restriction
contained in agreements referred to in such clause (2), (4) or (5); (8)
restrictions on the transfer of the assets subject to any Lien imposed by the
holder of such Lien; (9) a licensing agreement to the extent such restrictions
or encumbrances limit the transfer of property subject to such licensing
agreement; (10) restrictions relating to Subsidiary Preferred Stock that
require that due and payable dividends thereon to be paid in full prior to
dividends on such Subsidiary's common stock; or (11) any agreement or charter
provision evidencing Indebtedness or Capital Stock permitted under this
Indenture; provided, however, that the provisions relating to such encumbrance
or restriction contained in such agreement or charter provision are not less
favorable to the Company in any material respect as determined in good faith by
the Board of Directors of the Company than the provisions relating to such
encumbrance or restriction contained in this Indenture.

SECTION 4.14.           Guarantees by Restricted Subsidiaries.

                  (a) The Company shall not create or acquire, nor cause or
permit any of its Restricted Subsidiaries, directly or indirectly, to create or
acquire, any Subsidiary other than (1) an Unrestricted Subsidiary in accordance
with the other terms of this Indenture or (2) a Restricted Subsidiary that
either (i) simultaneously with such creation or acquisition, (x) executes and
delivers to the Trustee a supplemental indenture to this Indenture pursuant to
which it will become a Guarantor in accordance with Article Eleven hereof and
(y) delivers to the Trustee an Opinion of Counsel that such supplemental
indenture has been duly authorized, executed and delivered by such Restricted
Subsidiary and constitutes a valid, binding and enforceable obligation of such
Restricted Subsidiary (which opinion may be subject to customary assumptions and
qualifications), or (ii) does not satisfy the definition of Subsidiary
Guarantor.

                  (b) Any Unrestricted Subsidiary that is redesignated as a
Restricted Subsidiary shall upon such redesignation be required to become a
Guarantor in accordance with the requirements of Section 4.14(a)(2).

SECTION 4.15.           Change of Control.

                  (a) Upon the occurrence of a Change of Control, each Holder
shall have the right to require that the Company purchase all or a portion of
such Holder's Securities in cash pursuant to the offer described below (the
"Change of Control Offer"), at a purchase price equal to 101% of the principal
amount thereof plus accrued and unpaid interest, if any, to the date of
purchase.

                  (b) Prior to the mailing of the notice referred to below, but
in any event within 30 days following the date on which the Company becomes
aware that a Change of Control has occurred (the "Change of

<PAGE>

                                      -36-

Control Date"), the Company covenants that if the purchase of the Securities
would violate or constitute a default under any other Indebtedness of the
Company, then the Company shall, to the extent needed to permit such purchase of
Securities, either (i) repay all such Indebtedness and terminate all commitments
outstanding thereunder or (ii) obtain the requisite consents, if any, under any
such Indebtedness to permit the purchase of the Securities as provided below.
The Company shall first comply with the covenant in the preceding sentence
before it will be required to make the Change of Control Offer or purchase the
Securities pursuant to the provisions described below.

                  (c) Within 30 days following the date on which the Company
becomes aware that a Change of Control has occurred, the Company shall send, by
first class mail, postage prepaid, a notice to each Holder, which notice shall
govern the terms of the Change of Control Offer. The notice to the Holders shall
contain all instructions and materials necessary to enable such Holders to
tender Securities pursuant to the Change of Control Offer. Such notice shall
state:

                  (1)      that the Change of Control Offer is being made
         pursuant to this Section 4.15 and that all Securities validly tendered
         and not withdrawn will be accepted for payment;

                  (2)      the purchase price (including the amount of accrued
         interest, if any) and the purchase date (which shall be no earlier than
         30 days nor later than 45 days from the date such notice is mailed,
         other than as may be required by law) (the "Change of Control Payment
         Date");

                  (3)      that any Security not tendered will continue to
         accrue interest;

                  (4)      that, unless the Company defaults in making payment
         therefor, any Security accepted for payment pursuant to the Change of
         Control Offer shall cease to accrue interest after the Change of
         Control Payment Date;

                  (5)      that Holders electing to have a Security purchased
         pursuant to a Change of Control Offer will be required to surrender the
         Security, with the form entitled "Option of Holder to Elect Purchase"
         on the reverse of the Security completed, to the Paying Agent and
         Registrar for the Securities at the address specified in the notice
         prior to the close of business on the Business Day prior to the Change
         of Control Payment Date;

                  (6)      that Holders shall be entitled to withdraw their
         election if the Paying Agent receives, not later than five Business
         Days prior to the Change of Control Payment Date, a telegram, telex,
         facsimile transmission or letter setting forth the name of the Holder,
         the principal amount of the Securities the Holder delivered for
         purchase and a statement that such Holder is withdrawing his election
         to have such Security purchased;

                  (7)      that Holders whose Securities are purchased only in
         part shall be issued new Securities in a principal amount equal to the
         unpurchased portion of the Securities surrendered; provided, however,
         that each Security purchased and each new Security issued shall be in a
         principal amount of $1,000 or integral multiples thereof; and

                  (8)      the circumstances and relevant facts regarding such
         Change of Control.

                  (d) On or before the Change of Control Payment Date, the
Company shall (i) accept for payment Securities or portions thereof (in integral
multiples of $1,000) validly tendered pursuant to the Change of Control Offer,
(ii) deposit with the Paying Agent in accordance with Section 2.14 cash in U.S.
dollars or

<PAGE>

                                      -37-

United States Government Obligations sufficient to pay the purchase price plus
accrued and unpaid interest, if any, of all Securities so tendered and (iii)
deliver to the Trustee Securities so accepted together with an Officers'
Certificate stating the Securities or portions thereof being purchased by the
Company. Upon receipt by the Paying Agent of the monies specified in clause (ii)
above and a copy of the Officers' Certificate specified in clause (iii) above,
the Paying Agent shall promptly mail to the Holders of Securities so accepted
payment in an amount equal to the purchase price plus accrued and unpaid
interest, if any, out of the funds deposited with the Paying Agent in accordance
with the preceding sentence. The Trustee shall promptly authenticate and mail to
such Holders new Securities equal in principal amount to any unpurchased portion
of the Securities surrendered. Upon the payment of the purchase price for the
Securities accepted for purchase, the Trustee shall return the Securities
purchased to the Company for cancellation. Any monies remaining after the
purchase of Securities pursuant to a Change of Control Offer shall be returned
within three Business Days by the Trustee to the Company except with respect to
monies owed as obligations to the Trustee pursuant to Article Eight. For
purposes of this Section 4.15, the Trustee shall, except with respect to monies
owed as obligations to the Trustee pursuant to Article Eight, act as the Paying
Agent.

                  (e) The Company shall comply with the requirements of Rule
14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent such laws and regulations are applicable in connection
with the purchase of the Securities pursuant to a Change of Control Offer. To
the extent the provisions of any such rule conflict with the provisions of this
Indenture relating to a Change of Control Offer, the Company shall comply with
the provisions of such rule and be deemed not to have breached its obligations
relating to such Change of Control Offer by virtue thereof.

                  (f) Paragraphs (a)-(e) of this Section 4.15 notwithstanding,
the Company shall not be required to make a Change of Control Offer if, instead,
the Company elects to effect a Change of Control Redemption in compliance with
the requirements listed on the Securities in Exhibit A and Exhibit B hereof.

                  (g) Paragraphs (a)-(f) notwithstanding, the Company shall not
be required to make a Change of Control Offer or a Change of Control Redemption
in the event of (i) changes in a majority of the board of directors of the
Company or LIN TV so long as a majority of such board of directors continues to
consist of Continuing Directors and (ii) certain transactions with Permitted
Holders (including Hicks Muse, its officers and directors, and their respective
Affiliates).

SECTION 4.16.           Limitation on Liens.

                  The Company shall not, and shall not cause or permit any of
its Restricted Subsidiaries to, directly or indirectly, create, incur or assume
any Lien securing Indebtedness on any asset now owned or hereafter acquired, or
any income or profits therefrom or assign or convey any right to receive income
or profit therefrom, unless contemporaneously therewith effective provision is
made, in the case of the Company, to secure the Securities and all other amounts
due under this Indenture, and in the case of a Restricted Subsidiary which is a
Guarantor, to secure such Restricted Subsidiary's Guarantee of the Securities
and all other amounts due under this Indenture, equally and ratably with such
Indebtedness (or, in the event that such Indebtedness is subordinated in right
of payment to the Securities or such Subsidiary's Guarantee, prior to such
Indebtedness) with a Lien on the same properties and assets securing such
Indebtedness for so long as such Indebtedness is secured by such Lien, except
for (i) Liens securing Senior Indebtedness and Guarantor Senior Indebtedness and
(ii) Liens securing Indebtedness described in clause (xi) of the definition of
"Permitted Indebtedness"; provided that such Liens cover only the property
referred to in such definition.

<PAGE>

                                      -38-

SECTION 4.17.           Compliance Certificate.

                  The Company shall deliver to the Trustee within 120 days after
the close of each fiscal year a certificate signed by the principal executive
officer, principal financial officer or principal accounting officer stating
that a review of the activities of the Company has been made under the
supervision of the signing officer with a view to determining whether a Default
or Event of Default has occurred and whether or not the signers know of any
Default or Event of Default by the Company that occurred during such fiscal
year. If they do know of such a Default or Event of Default, their status and
the action the Company is taking or proposes to take with respect thereto. The
first certificate to be delivered by the Company pursuant to this Section 4.17
shall be for the fiscal year ending December 31, 2003.

SECTION 4.18.           Corporate Existence.

                  Subject to Article Five, the Company shall do or shall cause
to be done all things necessary to preserve and keep in full force and effect
its corporate existence and the corporate, partnership or other existence of
each Subsidiary in accordance with the respective organizational documents of
each such Subsidiary and the rights (charter and statutory) and material
franchises of the Company and the Subsidiaries; provided, however, that the
Company shall not be required to preserve any such right or franchise, or the
corporate existence of any Subsidiary, if the Board of Directors of the Company
shall determine that the preservation thereof is no longer desirable in the
conduct of the business of the Company and the Subsidiaries, taken as a whole;
provided, further, however, that a determination of the Board of Directors of
the Company shall not be required in the event of a merger of one or more
Restricted Subsidiaries of the Company with or into another Restricted
Subsidiary of the Company or another Person, if the surviving Person is a
Restricted Subsidiary of the Company organized under the laws of the United
States or a State thereof or of the District of Columbia. This Section 4.18
shall not prohibit the Company from taking any other action otherwise permitted
by, and made in accordance with, the provisions of this Indenture.

SECTION 4.19.           Maintenance of Properties and Insurance.

                  (a) The Company shall, and shall cause each of its Restricted
Subsidiaries to, maintain its material properties in normal condition (subject
to ordinary wear and tear) and make all reasonably necessary repairs, renewals
or replacements thereto as in the judgment of the Company may be reasonably
necessary to the conduct of the business of the Company and its Restricted
Subsidiaries; provided, however, that nothing in this Section 4.19 shall prevent
the Company or any of its Restricted Subsidiaries from discontinuing the
operation and maintenance of any of its properties, if such properties are, in
the reasonable and good faith judgment of the Board of Directors of the Company
or the Restricted Subsidiary, as the case may be, no longer reasonably necessary
in the conduct of their respective businesses.

                  (b) The Company shall provide or cause to be provided, for
itself and each of its Restricted Subsidiaries, insurance (including appropriate
self-insurance) against loss or damage of the kinds that, in the reasonable,
good faith opinion of the Company, are reasonably adequate and appropriate for
the conduct of the business of the Company and such Restricted Subsidiaries.

SECTION 4.20.           Payment of Taxes and Other Claims.

                  The Company shall pay or discharge or cause to be paid or
discharged, before the same shall become delinquent, (i) all material taxes,
assessments and governmental charges (including withholding taxes and any
penalties, interest and additions to taxes) levied or imposed upon it or any of
its Restricted Subsidiaries or properties of it or any of its Restricted
Subsidiaries and (ii) all material lawful claims for labor, materials,

<PAGE>

                                      -39-

supplies and services that, if unpaid, might by law become a Lien upon the
property of it or any of its Restricted Subsidiaries; provided, however, that
there shall not be required to be paid or discharged any such tax, assessment or
charge, the amount, applicability or validity of which is being contested in
good faith by appropriate proceedings and for which adequate provision has been
made or where the failure to effect such payment or discharge is not adverse in
any material respect to the Holders.

SECTION 4.21.           Waiver of Stay, Extension or Usury Laws.

                  The Company covenants (to the extent that it may lawfully do
so) that it will not at any time insist upon, plead, or in any manner whatsoever
claim or take the benefit or advantage of, any stay or extension law or any
usury law or other law that would prohibit or forgive the Company from paying
all or any portion of the principal of, premium or interest on the Securities as
contemplated herein, wherever enacted, now or at any time hereafter in force, or
which may affect the obligations or the performance of this Indenture; and (to
the extent that it may lawfully do so) the Company hereby expressly waives all
benefit or advantage of any such law, and covenants that it will not hinder,
delay or impede the execution of any power herein granted to the Trustee, but
will suffer and permit the execution of every such power as though no such law
had been enacted.

                                  ARTICLE FIVE

                         MERGERS; SUCCESSOR CORPORATION

SECTION 5.01.           Mergers, Sale of Assets, etc.

                  (a) The Company shall not, in a single transaction or a series
of related transactions, consolidate with or merge with or into, or sell,
assign, transfer, lease, convey or otherwise dispose of all or substantially all
of the Company's assets determined on a consolidated basis for the Company to
another Person or adopt a plan of liquidation unless (i) either (1) the Company
is the surviving Person or (2) the Person (if other than the Company) formed by
such consolidation or into which the Company is merged or the person that
acquires by conveyance, transfer or lease the properties and assets of the
Company substantially as an entirety or in the case of a plan of liquidation,
the Person to which assets of the Company have been transferred, shall be a
corporation, partnership, limited liability company or trust organized and
existing under the laws of the United States or any State thereof or the
District of Columbia; (ii) such surviving person shall assume all of the
obligations of the Company under the Securities and this Indenture pursuant to a
supplemental indenture in a form reasonably satisfactory to the Trustee; (iii)
immediately after giving effect to such transaction and the use of the proceeds
therefrom (on a pro forma basis, including giving effect to any Indebtedness
incurred or anticipated to be incurred in connection with such transaction), (x)
no Default or Event of Default shall have occurred and be continuing and (y) the
Company (in the case of clause (1) of the foregoing clause (i)) or such Person
(in the case of clause (2) of the foregoing clause (i)) shall be able to incur
$1.00 of additional Indebtedness (other than Permitted Indebtedness) in
compliance with Section 4.04; and (iv) the Company has delivered to the Trustee
prior to the consummation of the proposed transaction an Officers' Certificate
and an Opinion of Counsel, each stating that such consolidation, merger or
transfer complies with this Indenture and that all conditions precedent in this
Indenture relating to such transaction have been satisfied.

                  (b) For purposes of the foregoing subsection (a), the transfer
(by lease, assignment, sale or otherwise, in a single transaction or series of
transactions) of all or substantially all the properties and assets of one or
more Restricted Subsidiaries, the Capital Stock or assets of which constitutes
all or substantially all the

<PAGE>

                                      -40-

properties and assets of the Company, shall be deemed to be the transfer of all
or substantially all the properties and assets of the Company.

                  (c) Notwithstanding clauses (ii) and (iii) in paragraph (a)
above, (1) any Restricted Subsidiary of the Company may consolidate with, merge
into or transfer all or part of its properties and assets to the Company and (2)
the Company may merge with an Affiliate thereof incorporated solely for the
purpose of reorganizing the Company in another jurisdiction in the U.S. to
realize tax or other benefits.

SECTION 5.02.           Successor Corporation Substituted.

                  In the event of any transaction (other than a lease) described
in and complying with the conditions listed in Section 5.01 in which the Company
is not the surviving person and the surviving person is to assume all the
Obligations of the Company under the Securities, this Indenture and the
Registration Rights Agreement pursuant to a supplemental indenture, such
surviving person shall succeed to, and be substituted for, and may exercise
every right and power of the Company, and the Company shall be discharged from
its Obligations under this Indenture, the Securities and the Registration Rights
Agreement.

                                   ARTICLE SIX

                              DEFAULT AND REMEDIES

SECTION 6.01.           Events of Default.

                  Each of the following shall be an "Event of Default" for
purposes of this Indenture:

                  (a) the failure to pay interest on any Security when the same
         becomes due and payable and the Default continues for a period of 30
         days (whether or not such payment is prohibited by Article Seven);

                  (b) the failure to pay principal of or premium, if any, on any
         Security when such principal or premium, if any, becomes due and
         payable, at maturity, upon redemption or otherwise (whether or not such
         payment is prohibited by Article Seven);

                  (c) a default in the observance or performance of any other
         covenant or agreement contained in the Securities or this Indenture,
         which default continues for a period of 30 days after the Company
         receives written notice thereof specifying the default from the Trustee
         or Holders of at least 25% in aggregate principal amount of outstanding
         Securities;

                  (d) the failure to pay at the final stated maturity (giving
         effect to any extensions thereof) the principal amount of any
         Indebtedness of the Company or any Restricted Subsidiary of the
         Company, or the acceleration of the final stated maturity of any such
         Indebtedness, if the aggregate principal amount of such Indebtedness,
         together with the aggregate principal amount of any other such
         Indebtedness in default for failure to pay principal at the final
         stated maturity (giving effect to any extensions thereof) or which has
         been accelerated, aggregates $10,000,000 or more at any time in each
         case after a 10-day period during which such default shall not have
         been cured or such acceleration rescinded;

                  (e) one or more judgments in an aggregate amount in excess of
         $15,000,000 (which are not covered by insurance as to which the insurer
         has not disclaimed coverage) being rendered against the

<PAGE>

                                      -41-

         Company or any of its Significant Restricted Subsidiaries and such
         judgment or judgments remain undischarged or unstayed for a period of
         60 days after such judgment or judgments become final and
         nonappealable;

                  (f) the Company or any of its Significant Restricted
         Subsidiaries (or one or more Restricted Subsidiaries that, taken
         together would constitute a Significant Restricted Subsidiary) pursuant
         to or within the meaning of any Bankruptcy Law: (i) admits in writing
         its inability to pay its debts generally as they become due; (ii)
         commences a voluntary case or proceeding; (iii) consents to the entry
         of an order for relief against it in an involuntary case or proceeding;
         (iv) consents or acquiesces in the institution of a bankruptcy or
         insolvency proceeding against it; (v) consents to the appointment of a
         Custodian of it or for all or substantially all of its property; or
         (vi) makes a general assignment for the benefit of its creditors, or
         any of them takes any action to authorize or effect any of the
         foregoing;

                  (g) a court of competent jurisdiction enters an order or
         decree under any Bankruptcy Law that: (i) is for relief against the
         Company or any Significant Restricted Subsidiary (or one or more
         Restricted Subsidiaries that, taken together would constitute a
         Significant Restricted Subsidiary) of the Company in an involuntary
         case or proceeding; (ii) appoints a Custodian of the Company or any
         Significant Restricted Subsidiary (or one or more Restricted
         Subsidiaries that, taken together would constitute a Significant
         Restricted Subsidiary) of the Company for all or substantially all of
         its property; or (iii) orders the liquidation of the Company or any
         Significant Restricted Subsidiary (or one or more Restricted
         Subsidiaries that, taken together would constitute a Significant
         Restricted Subsidiary) of the Company; and in each case the order or
         decree remains unstayed and in effect for 60 days; provided, however,
         that if the entry of such order or decree is appealed and dismissed on
         appeal, then the Event of Default hereunder by reason of the entry of
         such order or decree shall be deemed to have been cured; or

                  (h) except as permitted by this Indenture, any Guarantee shall
         be held in a judicial proceeding to be unenforceable or invalid or
         shall cease for any reason to be in full force and effect or any
         Guarantor, or any Person acting on behalf of any Guarantor, shall deny
         or disaffirm its obligations under its Guarantee.

SECTION 6.02.           Acceleration.

                  If an Event of Default with respect to the Securities (other
than an Event of Default specified in clause (f) or (g) of Section 6.01) occurs
and is continuing, the Trustee may, or the Trustee upon the request of Holders
of 25% in principal amount of the outstanding Securities shall, or the Holders
of at least 25% in aggregate principal amount of the outstanding Securities may
declare the principal of all the Securities, together with all accrued and
unpaid interest and premium, if any, to be due and payable by notice in writing
to the Company and the Trustee specifying the respective Event of Default and
that it is a "notice of acceleration" (the "Acceleration Notice"), and the same
(i) shall become immediately due and payable or (ii) if there are any amounts
outstanding under the Senior Credit Facilities, will become due and payable upon
the first to occur of an acceleration under the Senior Credit Facilities or five
Business Days after receipt by the Company and the agent under the Senior Credit
Facilities of such Acceleration Notice (unless all Events of Default specified
in such Acceleration Notice have been cured or waived).

                  If an Event of Default specified in clause (f) or (g) of
Section 6.01 occurs, all unpaid principal of and accrued interest on all
outstanding Securities shall ipso facto become immediately due and payable
without any declaration or other act on the part of the Trustee or any Holder.

<PAGE>

                                      -42-

                  At any time after such declaration with respect to the
Securities, the Holders of a majority in principal amount of Securities then
outstanding (by notice to the Trustee) may rescind and cancel such declaration
and its consequences if (i) the rescission would not conflict with any judgment
or decree of a court of competent jurisdiction, (ii) all existing Defaults and
Events of Default have been cured or waived except nonpayment of principal of or
interest on the Securities that has become due solely by such declaration of
acceleration, (iii) to the extent the payment of such interest is lawful,
interest (at the same rate specified in the Securities) on overdue installments
of interest and overdue payments of principal, which has become due otherwise
than by such declaration of acceleration has been paid, (iv) the Company has
paid the Trustee its reasonable compensation and reimbursed the Trustee for its
reasonable expenses, disbursements and advances and (v) in the event of the cure
or waiver of a Default or Event of Default of the type described in clause (f)
or (g) of Section 6.01, the Trustee has received an Officers' Certificate and
Opinion of Counsel that such Default or Event of Default has been cured or
waived. The Holders of a majority in principal amount of the Securities may
waive any existing Default or Event of Default under this Indenture, and its
consequences, except a default in the payment of the principal of or interest on
any Securities. No such rescission shall affect any subsequent Default or impair
any right consequent thereto.

SECTION 6.03.           Other Remedies.

                  If an Event of Default occurs and is continuing, the Trustee
may pursue any available remedy by proceeding at law or in equity to collect the
payment of principal of or interest on the Securities or to enforce the
performance of any provision of the Securities or this Indenture.

                  The Trustee may maintain a proceeding even if it does not
possess any of the Securities or does not produce any of them in the proceeding.
A delay or omission by the Trustee or any Holder in exercising any right or
remedy maturing upon an Event of Default shall not impair the right or remedy or
constitute a waiver of or acquiescence in the Event of Default. No remedy is
exclusive of any other remedy. All available remedies are cumulative to the
extent permitted by law.

SECTION 6.04.           Waiver of Past Default.

                  Subject to Sections 2.09, 6.07 and 10.02, prior to the
declaration of acceleration of the Securities, the Holders of not less than a
majority in aggregate principal amount of the outstanding Securities by written
notice to the Trustee may waive an existing Default or Event of Default and its
consequences, except a Default in the payment of principal of or interest on any
Security as specified in clauses (a) and (b) of Section 6.01 or a Default in
respect of any term or provision of this Indenture that may not be amended or
modified without the consent of each Holder affected as provided in Section
10.02. The Company shall deliver to the Trustee an Officers' Certificate stating
that the requisite percentage of Holders have consented to such waiver and
attaching copies of such consents. In case of any such waiver, the Company, the
Trustee and the Holders shall be restored to their former positions and rights
hereunder and under the Securities, respectively. This paragraph of this Section
6.04 shall be in lieu of Section 316(a)(1)(B) of the TIA and such Section
316(a)(1)(B) of the TIA is hereby expressly excluded from this Indenture and the
Securities, as permitted by the TIA.

                  Upon any such waiver, such Default shall cease to exist and be
deemed to have been cured and not to have occurred, and any Event of Default
arising therefrom shall be deemed to have been cured and not to have occurred
for every purpose of this Indenture and the Securities, but no such waiver shall
extend to any subsequent or other Default or Event of Default or impair any
right consequent thereon.

<PAGE>

                                      -43-

SECTION 6.05.           Control by Majority.

                  Subject to Section 2.09, the Holders of a majority in
principal amount of the outstanding Securities may direct the time, method and
place of conducting any proceeding for any remedy available to the Trustee or
exercising any trust or power conferred on it. However, the Trustee may refuse
to follow any direction that conflicts with law or this Indenture that the
Trustee determines may be unduly prejudicial to the rights of another Holder, it
being understood that the Trustee shall have no duty (subject to Section 8.01)
to ascertain whether or not such actions or forebearances are unduly prejudicial
to such Holders, or that may involve the Trustee in personal liability;
provided, however, that the Trustee may take any other action deemed proper by
the Trustee which is not inconsistent with such direction. In the event the
Trustee takes any action or follows any direction pursuant to this Indenture,
the Trustee shall be entitled to indemnification satisfactory to it in its sole
discretion against any loss or expense caused by taking such action or following
such direction. This Section 6.05 shall be in lieu of Section 316(a)(1)(A) of
the TIA, and such Section 316(a)(1)(A) of the TIA is hereby expressly excluded
from this Indenture and the Securities, as permitted by the TIA.

SECTION 6.06.           Limitation on Suits.

                  A Holder may not pursue any remedy with respect to this
Indenture or the Securities unless:

                    (i)  the Holder gives to the Trustee written notice of a
         continuing Event of Default;

                    (ii) the Holders of at least 25% in aggregate principal
         amount of the outstanding Securities make a written request to the
         Trustee to pursue a remedy;

                    (iii) such Holder or Holders offer and, if requested,
         provide to the Trustee indemnity satisfactory to the Trustee against
         any loss, liability or expense;

                    (iv) the Trustee does not comply with the request within 60
         days after receipt of the request and the offer and, if requested, the
         provision of indemnity; and

                    (v)  during such 60-day period the Holders of a majority in
         principal amount of the outstanding Securities do not give the Trustee
         a direction which, in the opinion of the Trustee, is inconsistent with
         the request.

                  A Holder may not use this Indenture to prejudice the rights of
another Holder or to obtain a preference or priority over such other Holder.

SECTION 6.07.           Rights of Holders To Receive Payment.

                  Notwithstanding any other provision of this Indenture, the
right of any Holder to receive payment of principal of or interest on a
Security, on or after the respective due dates expressed in the Security, or to
bring suit for the enforcement of any such payment on or after such respective
dates, shall not be impaired or affected without the consent of such Holder.

SECTION 6.08.           Collection Suit by Trustee.

                  If an Event of Default in payment of principal or interest
specified in Section 6.01(a) or (b) occurs and is continuing, the Trustee may
recover judgment in its own name and as trustee of an express trust against the
Company or any other obligor on the Securities for the whole amount of principal
and accrued interest

<PAGE>

                                      -44-

remaining unpaid, together with interest overdue on principal and to the extent
that payment of such interest is lawful, interest on overdue installments of
interest, in each case at the rate per annum borne by the Securities and such
further amount as shall be sufficient to cover the costs and expenses of
collection, including the reasonable compensation, expenses, disbursements and
advances of the Trustee, its agents and counsel.

SECTION 6.09.           Trustee May File Proofs of Claim.

                  The Trustee may file such proofs of claim and other papers or
documents as may be necessary or advisable in order to have the claims of the
Trustee (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agents and counsel) and the
Holders allowed in any judicial proceedings relative to the Company (or any
other obligor upon the Securities), its creditors or its property and shall be
entitled and empowered to collect and receive any monies or other property
payable or deliverable on any such claims and to distribute the same, and any
Custodian in any such judicial proceedings is hereby authorized by each Holder
to make such payments to the Trustee and, in the event that the Trustee shall
consent to the making of such payments directly to the Holders, to pay to the
Trustee any amount due to it for the reasonable compensation, expenses,
disbursements and advances of the Trustee, its agent and counsel, and any other
amounts due the Trustee under Section 8.07. Nothing herein contained shall be
deemed to authorize the Trustee to authorize or consent to or accept or adopt on
behalf of any Holder any plan of reorganization, arrangement, adjustment or
composition affecting the Securities or the rights of any Holder thereof, or to
authorize the Trustee to vote in respect of the claim of any Holder in any such
proceeding; provided, however, that the Trustee may, on behalf of the Holders,
vote for the election of a trustee in bankruptcy or similar official and may be
a member of the creditors' committee.

SECTION 6.10.           Priorities.

                  If the Trustee collects any money or property pursuant to this
Article Six, it shall pay out the money or property in the following order:

                  First: to the Trustee for amounts due under Section 8.07;

                  Second: to Holders for amounts due and unpaid on the
          Securities for principal and interest, ratably, without preference or
          priority of any kind, according to the amounts due and payable on the
          Securities for principal and interest, respectively; and

                  Third: to the Company.

                  The Trustee, upon prior written notice to the Company, may fix
a record date and payment date for any payment to the Holders pursuant to this
Section 6.10.

SECTION 6.11.           Undertaking for Costs.

                  In any suit for the enforcement of any right or remedy under
this Indenture or in any suit against the Trustee for any action taken or
omitted by it as Trustee, a court in its discretion may require the filing by
any party litigant in the suit of an undertaking to pay the costs of the suit,
and the court in its discretion may assess reasonable costs, including
reasonable attorneys' fees and expenses, against any party litigant in the suit,
having due regard to the merits and good faith of the claims or defenses made by
the party litigant. This Section 6.11 shall not apply to a suit by the Trustee,
a suit by a Holder or group of Holders of more than 10% in aggregate principal
amount of the outstanding Securities, or to any suit instituted by any Holder
for the

<PAGE>

                                      -45-

enforcement or the payment of the principal or interest on any Securities on or
after the respective due dates expressed in the Security.

                                  ARTICLE SEVEN

                           SUBORDINATION OF SECURITIES

SECTION 7.01.           Agreement To Subordinate.

                  The Company agrees, and each Holder by accepting any Security
agrees, that the Indebtedness evidenced by the Securities is subordinated in
right of payment, to the extent and in the manner provided in this Article
Seven, to the payment when due of all Senior Indebtedness of the Company and
that such subordination is for the benefit of and enforceable by the holders of
Senior Indebtedness. The Securities shall in all respects rank pari passu with
all other Senior Subordinated Indebtedness of the Company, and only Indebtedness
of the Company which is Senior Indebtedness will rank senior to the Securities
in accordance with the provisions set forth herein. Unsecured Indebtedness is
not deemed to be subordinate or junior to Secured Indebtedness merely because it
is unsecured, nor is any Indebtedness deemed to be subordinate or junior to
other Indebtedness merely because it matures after such other Indebtedness.
Secured Indebtedness is not deemed to be Senior Indebtedness merely because it
is secured. All provisions of this Article Seven shall be subject to Section
7.12.

SECTION 7.02.           Liquidation, Dissolution, Bankruptcy.

                  Upon any payment or distribution of the assets of the Company
upon a total or partial liquidation or dissolution or reorganization or
bankruptcy of or similar proceeding relating to the Company or its property:

                  (1)      holders of Senior Indebtedness of the Company shall
         be entitled to receive payment in full in cash or Cash Equivalents of
         all Senior Indebtedness of the Company before holders of Securities
         shall be entitled to receive any payment of principal of or interest on
         or other amounts with respect to the Securities from the Company; and

                  (2)      until the Senior Indebtedness of the Company is paid
         in full, in cash or Cash Equivalents, any payment or distribution to
         which Holders would be entitled but for the provisions of this Article
         Seven shall be made to holders of Senior Indebtedness as their
         interests may appear.

SECTION 7.03.           Default on Senior Indebtedness.

                  The Company may not pay the principal of, premium (if any), or
interest on, and other obligations with respect to, the Securities or make any
deposit pursuant to Section 9.03 or repurchase, redeem or otherwise retire any
Securities (collectively, "pay the Securities") if (i) any Senior Indebtedness
is not paid when due or (ii) any other default on Senior Indebtedness occurs and
the maturity of such Senior Indebtedness is accelerated in accordance with its
terms unless, in either case, (x) the default has been cured or waived or is no
longer continuing and/or any such acceleration has been rescinded or (y) such
Senior Indebtedness has been paid in full; provided, however, that the Company
may pay the Securities, subject to the provisions of Section 7.02, without
regard to the foregoing if the Company and the Trustee receive written notice
approving such payment from the Representatives of the Senior Indebtedness with
respect to which either of the events set forth in clause (i) or (ii) of this
sentence has occurred or is continuing. During the continuance of any default
(other than a

<PAGE>

                                      -46-

default described in clause (i) or (ii) of the preceding sentence) with respect
to any Designated Senior Indebtedness pursuant to which the maturity thereof may
be accelerated immediately without further notice (except such notice as may be
required to effect such acceleration) or the expiration of any applicable grace
periods, the Company may not pay the Securities (except (i) in Qualified Capital
Stock issued by the Company to pay interest on the Securities or issued in
exchange for the Securities, (ii) in securities substantially identical to the
Securities issued by the Company in payment of interest accrued thereon or (iii)
in securities issued by the Company which are subordinated to the Senior
Indebtedness at least to the same extent as the Securities and having a Weighted
Average Life to Maturity at least equal to the remaining Weighted Average Life
to Maturity of the Securities) for a period (a "Payment Blockage Period")
commencing upon the receipt by the Trustee (with a copy to the Company) of
written notice (a "Blockage Notice") of such default from the Representative of
the holders of such Designated Senior Indebtedness specifying an election to
effect a Payment Blockage Period and ending 179 days thereafter (or earlier if
such Payment Blockage Period is terminated (i) by written notice to the Trustee
and the Company from the Person or Persons who gave such Blockage Notice, (ii)
because the default giving rise to such Blockage Notice has been cured, waived
or is no longer continuing or (iii) because such Designated Senior Indebtedness
has been repaid in full). Notwithstanding the provisions of the immediately
preceding sentence, but subject to the provisions of the first sentence of this
Section 7.03 and the provisions of Section 7.02, the Company may resume payments
on the Securities after the end of such Payment Blockage Period. Not more than
one Blockage Notice may be given, and not more than one Payment Blockage Period
may occur, in any consecutive 360-day period, irrespective of the number of
defaults with respect to Designated Senior Indebtedness during such period.
However, if any Blockage Notice within such 360-day period is given by or on
behalf of any holders of Designated Senior Indebtedness (other than the agent
under the Senior Credit Facilities), the agent under the Senior Credit
Facilities may give another Blockage Notice within such period. In no event,
however, may the total number of days during which any Payment Blockage Period
or Payment Blockage Periods are in effect exceed 179 days in the aggregate
during any 360 consecutive day period. No nonpayment default that existed or was
continuing on the date of delivery of any Blockage Notice to the Trustee shall
be, or be made, the basis for a subsequent Blockage Notice unless such default
shall have been cured or waived for a period of not less than 90 consecutive
days.

SECTION 7.04.           Acceleration of Payment of Securities.

                  If payment of the Securities is accelerated because of an
Event of Default, the Company or the Trustee shall promptly notify the holders
of the Representative (if any) of any issue of Designated Senior Indebtedness
which is then outstanding; provided, however, that the Company and the Trustee
shall be obligated to notify such a Representative (other than with respect to
the Senior Credit Facilities) only if such Representative has delivered or
caused to be delivered an address for the service of such a notice to the
Company and the Trustee (and the Company and the Trustee shall be obligated only
to deliver the notice to the address so specified). If a notice is required
pursuant to the immediately preceding sentence, the Company may not pay the
Securities (except payment (i) in Qualified Capital Stock issued by the Company
to pay interest on the Securities or issued in exchange for the Securities, (ii)
in securities substantially identical to the Securities issued by the Company in
payment of interest accrued thereon or (iii) securities issued by the Company
which are subordinated to the Senior Indebtedness at least to the same extent as
the Securities and have a Weighted Average Life to Maturity at least equal to
the remaining Weighted Average Life to Maturity of the Securities), until five
Business Days after the respective Representative of the Designated Senior
Indebtedness receives notice (at the address specified in the preceding
sentence) of such acceleration and thereafter may pay the Securities only if the
provisions of this Article Seven otherwise permit payment at that time.

<PAGE>

                                      -47-

SECTION 7.05.           When Distribution Must Be Paid Over.

                  If a distribution is made to the Trustee or to Holders that
because of this Article Seven should not have been made to them, the Trustee or
the Holders who receive such distribution shall hold it in trust for holders of
Senior Indebtedness and promptly pay it over to them as their respective
interests may appear; provided, however, that the liabilities of the Trustee
under this Section 7.05 are limited by Section 7.15.

SECTION 7.06.           Subrogation.

                  After all Senior Indebtedness is paid in full and until the
Securities are paid in full, Holders shall be subrogated to the rights of
holders of Senior Indebtedness to receive distributions applicable to Senior
Indebtedness. A distribution made under this Article Seven to holders of Senior
Indebtedness which otherwise would have been made to Holders is not, as between
the Company and the Holders, a payment by the Company of Senior Indebtedness.

SECTION 7.07.           Relative Rights.

                  This Article Seven defines the relative rights of Holders of
the Securities on the one hand and holders of Senior Indebtedness on the other
hand. Nothing in this Indenture shall:

                  (1)      impair, as between the Company and the Holders, the
         obligation of the Company, which is absolute and unconditional, to pay
         principal of and interest on the Securities in accordance with their
         terms; or

                  (2)      prevent the Trustee or any Holder from exercising its
         available remedies upon a Default or Event of Default, subject to the
         rights of holders of Senior Indebtedness to receive distributions
         otherwise payable to Holders.

SECTION 7.08.           Subordination May Not Be Impaired by Company.

                  No right of any holder of Senior Indebtedness to enforce the
subordination of the Indebtedness evidenced by the Securities shall be impaired
by any act or failure to act by the Company or by the failure of the Company to
comply with this Indenture.

SECTION 7.09.           Rights of Trustee and Paying Agent.

                  Notwithstanding Section 7.03, the Trustee or Paying Agent may
continue to make payments on the Securities and shall not be charged with
knowledge of the existence of facts that would prohibit the making of any such
payments unless, not less than two Business Days prior to the date of such
payment, a Trust Officer of the Trustee receives notice satisfactory to it that
payments may not be made under this Article Seven. The Company, the Registrar or
co-registrar, the Paying Agent, a Representative or a holder of Senior
Indebtedness may give the notice; provided, however, that if an issue of Senior
Indebtedness has a Representative, only the Representative may give the notice.

                  The Trustee in its individual or any other capacity may hold
Senior Indebtedness with the same rights it would have if it were not Trustee.
The Registrar and co-registrar and the Paying Agent may do the same with like
rights. The Trustee shall be entitled to all the rights set forth in this
Article Seven with respect to any Senior Indebtedness which may at any time be
held by it, to the same extent as any other holder of Senior

<PAGE>

                                      -48-

Indebtedness; and nothing in Article Seven shall deprive the Trustee of any of
its rights as such holder. Nothing in this Article Seven shall apply to claims
of, or payments to, the Trustee under or pursuant to Section 8.07.

SECTION 7.10.           Distribution or Notice to Representative.

                  Whenever a distribution is to be made or a notice given to
holders of Senior Indebtedness, the distribution may be made and the notice
given to their Representative (if any).

SECTION 7.11.           Article Seven Not To Prevent Events of Default or Limit
                        Right To Accelerate.

                  The failure to make a payment in respect of the Securities by
reason of any provision in this Article Seven shall not be construed as
preventing the occurrence of a Default or Event of Default. Nothing in this
Article Seven shall have any effect on the right of the Holders or the Trustee
to accelerate the maturity of the Securities.

SECTION 7.12.           Trust Moneys Not Subordinated.

                  Notwithstanding anything contained herein to the contrary,
payments from money or the proceeds of U.S. Government Obligations held in trust
under Article Nine by the Trustee for the payment of principal of and interest
on the Securities shall not be subordinated to the prior payment of any Senior
Indebtedness or subject to the restrictions set forth in this Article Seven, and
none of the Holders shall be obligated to pay over any such amount to the
Company, any holder of Senior Indebtedness of the Company, or any other creditor
of the Company.

SECTION 7.13.           Trustee Entitled To Rely.

                  Upon any payment or distribution pursuant to this Article
Seven, the Trustee and the Holders shall be entitled to rely (i) upon any order
or decree of a court of competent jurisdiction in which any proceedings of the
nature referred to in Section 7.02 are pending, (ii) upon a certificate of the
liquidating trustee or agent or other Person making such payment or distribution
to the Trustee or to the Holders or (iii) upon the Representatives for the
holders of Senior Indebtedness for the purpose of ascertaining the Persons
entitled to participate in such payment or distribution, the holders of Senior
Indebtedness and other Indebtedness of the Company, the amount thereof or
payable thereon, the amount or amounts paid or distributed thereon and all other
facts pertinent thereto or to this Article Seven. In the event that the Trustee
determines, in good faith, that evidence is required with respect to the right
of any Person as a holder of Senior Indebtedness to participate in any payment
or distribution pursuant to this Article Seven, the Trustee may request such
Person to furnish evidence to the reasonable satisfaction of the Trustee as to
the amount of Senior Indebtedness held by such Person, the extent to which such
Person is entitled to participate in such payment or distribution and other
facts pertinent to the rights of such Person under this Article Seven, and, if
such evidence is not furnished, the Trustee may defer any payment to such Person
pending judicial determination as to the right of such Person to receive such
payment. The Trustee shall have the right to seek a declaratory judgment as to
any right of such Person to receive such payment. The provisions of Sections
8.01 and 8.02 shall be applicable to all actions or omissions of actions by the
Trustee pursuant to this Article Seven.

SECTION 7.14.           Trustee To Effectuate Subordination.

                  Each Holder by accepting a Security authorizes and directs the
Trustee on his behalf to take such action as may be necessary or appropriate to
acknowledge or effectuate the subordination between the

<PAGE>

                                      -49-

Holder and the holders of Senior Indebtedness as provided in this Article Seven
and appoints the Trustee as attorney-in-fact for any and all such purposes.

SECTION 7.15.           Trustee Not Fiduciary for Holders of Senior
                        Indebtedness.

                  The Trustee shall not be deemed to owe any fiduciary duty to
the holders of Senior Indebtedness and shall not be liable to any such holders
if it shall mistakenly pay over or distribute to Holders or the Company, or any
other Person, money or assets to which any holders of Senior Indebtedness shall
be entitled by virtue of this Article Seven or otherwise.

SECTION 7.16.           Reliance by Holders of Senior Indebtedness on
                        Subordination Provisions.

                  Each Holder by accepting a Security acknowledges and agrees
that the foregoing subordination provisions are, and are intended to be, an
inducement and a consideration to each holder of any Senior Indebtedness,
whether such Senior Indebtedness was created or acquired before or after the
issuance of the Securities, to acquire and continue to hold, or to continue to
hold, such Senior Indebtedness and such holder of Senior Indebtedness shall be
deemed conclusively to have relied on such subordination provisions in acquiring
and continuing to hold, or in continuing to hold, such Senior Indebtedness.

                                  ARTICLE EIGHT

                                     TRUSTEE

SECTION 8.01.           Duties of Trustee.

                  (a) If a Default has occurred and is continuing, the Trustee
shall exercise such of the rights and powers vested in it by this Indenture and
use the same degree of care and skill in their exercise as a prudent man would
exercise or use under the circumstances in the conduct of his own affairs.

                  (b) Except during the continuance of a Default:

                  (1)      The Trustee shall not be liable except for the
         performance of such duties as are specifically set forth herein; and

                  (2)      In the absence of bad faith on its part, the Trustee
         may conclusively rely, as to the truth of the statements and the
         correctness of the opinions expressed therein, upon certificates or
         opinions conforming to the requirements of this Indenture; provided,
         however, that in the case of any such certificates or opinions which by
         any provision hereof are specifically required to be furnished to the
         Trustee, the Trustee shall examine such certificates and opinions to
         determine whether or not they conform to the requirements of this
         Indenture.

                  (c) The Trustee shall not be relieved from liability for its
own negligent action, its own negligent failure to act, or its own willful
misconduct, except that:

                  (1)      This paragraph does not limit the effect of paragraph
         (b) of this Section 8.01;

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                                      -50-

                  (2)      The Trustee shall not be liable for any error of
         judgment made in good faith by a Trust Officer, unless it is proved
         that the Trustee was negligent in ascertaining the pertinent facts; and

                  (3)      The Trustee shall not be liable with respect to any
         action it takes or omits to take in good faith in accordance with a
         direction received by it pursuant to Sections 6.02, 6.04 and 6.05.

                  (d) No provision of this Indenture shall require the Trustee
to expend or risk its own funds or otherwise incur any financial liability in
the performance of any of its duties hereunder or to take or omit to take any
action under this Indenture or take any action at the request or direction of
Holders if it shall have reasonable grounds for believing that repayment of such
funds is not assured to it or it does not receive from such Holders an indemnity
satisfactory to it in its sole discretion against such risk, liability, loss,
fee or expense which might be incurred by it in compliance with such request or
direction.

                  (e) Every provision of this Indenture that in any way relates
to the Trustee is subject to paragraphs (a), (b), (c) and (d) of this Section
8.01.

                  (f) The Trustee shall not be liable for interest on any money
received by it except as the Trustee may agree in writing with the Company.
Money held in trust by the Trustee need not be segregated from other funds
except to the extent required by law.

SECTION 8.02.           Rights of Trustee.

                  Subject to Section 8.01:

                  (a) The Trustee may rely on any document believed by it to be
         genuine and to have been signed or presented by the proper Person. The
         Trustee need not investigate any fact or matter stated in the document.

                  (b) Before the Trustee acts or refrains from acting, it may
         require an Officers' Certificate and/or an Opinion of Counsel, which
         shall conform to the provisions of Section 13.05. The Trustee shall not
         be liable for any action it takes or omits to take in good faith in
         reliance on such certificate or opinion.

                  (c) The Trustee may act through attorneys and agents of its
         selection and shall not be responsible for the misconduct or negligence
         of any agent or attorney (other than an agent who is an employee of the
         Trustee) appointed with due care and appointed with the consent of the
         Company.

                  (d) The Trustee shall not be liable for any action it takes or
         omits to take in good faith which it reasonably believes to be
         authorized or within its rights or powers.

                  (e) Before the Trustee acts or refrains from acting, it may
         consult with counsel and the advice or opinion of such counsel as to
         matters of law shall be full and complete authorization and protection
         from liability in respect of any action taken, omitted or suffered by
         it hereunder in good faith and in accordance with the advice or opinion
         of such counsel.

                  (f) Any request or direction of the Company mentioned herein
         shall be sufficiently evidenced by a Company Request or Company Order
         and any resolution of the Board of Directors may be sufficiently
         evidenced by a Board Resolution.

<PAGE>

                                      -51-

                  (g) The Trustee shall be under no obligation to exercise any
         of the rights or powers vested in it by this Indenture at the request
         or direction of any of the Holders pursuant to this Indenture, unless
         such Holders shall have offered to the Trustee reasonable security or
         indemnity against the costs, expenses and liabilities which might be
         incurred by it in compliance with such request or direction.

                  (h) The Trustee shall not be bound to make any investigation
         into the facts or matters stated in any resolution, certificate,
         statement, instrument, opinion, report, notice, request, direction,
         consent, order, bond, debenture, note, other evidence of indebtedness
         or other paper or document, but the Trustee, in its discretion, may
         make such further inquiry or investigation into such facts or matters
         as it may see fit, and, if the Trustee shall determine to make such
         further inquiry or investigation, it shall be entitled to examine the
         books, records and premises of the Company, personally or by agent or
         attorney.

                  (i) The Trustee shall not be deemed to have notice of any
         Event of Default unless a Trust Officer of the Trustee has actual
         knowledge thereof or unless the Trustee shall have received written
         notice thereof at the Corporate Trust Office of the Trustee, and such
         notice references the Securities and this Indenture.

                  (j) The Trustee shall not be required to give any bond or
         surety in respect of the performance of its powers and duties
         hereunder.

                  (k) The permissive rights of the Trustee to do things
         enumerated in this Indenture shall not be construed as a duty and the
         Trustee shall not be answerable for other than its gross negligence or
         willful misconduct.

SECTION 8.03.           Individual Rights of Trustee.

                  The Trustee in its individual or any other capacity may become
the owner or pledgee of Securities and may otherwise deal with the Company or
their Affiliates with the same rights it would have if it were not Trustee. Any
Agent may do the same with like rights. However, the Trustee is subject to
Sections 8.10 and 8.11.

SECTION 8.04.           Trustee's Disclaimer.

                  The Trustee shall not be responsible for and makes no
representation as to the validity or adequacy of this Indenture or the
Securities, it shall not be accountable for the Company's use of the proceeds
from the Securities, and it shall not be responsible for any statement of the
Company or any Guarantor in this Indenture or any document issued in connection
with the sale of Securities or any statement in the Securities other than the
Trustee's certificate of authentication.

SECTION 8.05.           Notice of Defaults.

                  If a Default or an Event of Default occurs and is continuing
and the Trustee has actual knowledge of such Defaults or Events of Default, the
Trustee shall mail to each Holder notice of the Default or Event of Default
within 30 days after the occurrence thereof. Except in the case of a Default or
an Event of Default in payment of principal of or interest on any Security or a
Default or Event of Default in complying with Sections 5.01, the Trustee may
withhold the notice if and so long as a committee of its Trust Officers in good
faith determines that withholding the notice is in the interest of the Holders.
This Section 8.05 shall be in lieu of the proviso to Section 315(b) of the TIA
and such proviso to Section 315(b) of the TIA is hereby expressly excluded from
this Indenture and the Securities, as permitted by the TIA.

<PAGE>

                                      -52-

SECTION 8.06.           Reports by Trustee to Holders.

                  If required by TIA Section 313(a), within 60 days after each
February 1 beginning with February 1, 2004, the Trustee shall mail to each
Holder a report dated as of such February 1 that complies with TIA Section
313(a).  The Trustee also shall comply with TIA Section 313(b), (c) and (d).

                  A copy of each such report at the time of its mailing to
Holders shall be filed with the Commission and each stock exchange, if any, on
which the Securities are listed.

                  The Company shall promptly notify the Trustee in writing if
the Securities become listed on any stock exchange or of any delisting thereof.

SECTION 8.07.           Compensation and Indemnity.

                  The Company and the Guarantors shall pay to the Trustee and
the Agents from time to time, and the Trustee and the Agents shall be entitled
to, such compensation as the Company and the Trustee and the Agents shall from
time to time agree in writing for their respective services. The Trustee's
compensation shall not be limited by any law on compensation of a trustee of an
express trust. The Company and the Guarantors shall reimburse the Trustee and
the Agents upon request for all reasonable disbursements, expenses and advances,
including all costs and expenses of collection and reasonable fees,
disbursements and expenses of its agents and outside counsel incurred or made by
any of them in addition to the compensation for their respective services except
any such disbursements, expenses and advances as may be attributable to
negligence or willful misconduct of the party to be reimbursed. Such expenses
shall include the reasonable compensation, disbursements and expenses of the
Trustee's agents, accountants, experts and outside counsel and any taxes or
other expenses incurred by a trust created pursuant to Section 9.01 hereof.

                  The Company and the Guarantors, jointly and severally, shall
indemnify the Trustee and the Agents for, and hold them harmless against any and
all loss, damage, claims, liability or expense, including taxes (other than
franchise taxes imposed on the indemnified party and taxes based upon, measured
by or determined by the income of the indemnified party), arising out of or in
connection with the acceptance or administration of the trust or trusts
hereunder, including the costs and expenses of defending themselves against or
investigating any claim or liability in connection with the exercise or
performance of any of their powers or duties hereunder, except to the extent
that such loss, damage, claim, liability or expense is due to negligence or
willful misconduct of the indemnified party. The indemnified party shall notify
the Company promptly of any claim asserted against the indemnified party for
which it may seek indemnity. However, the failure by the indemnified party to so
notify the Company shall not relieve the Company and the Guarantors of their
obligations hereunder unless the Company and the Guarantors have been prejudiced
thereby. The Company and the Guarantors shall defend the claim and the
indemnified party shall cooperate in the defense at the expense of the Company
and the Guarantors; provided that the Company and the Guarantors shall not be
liable in any action or for which they have assumed the defense for the expenses
of separate counsel to the indemnified party unless (1) the employment of
separate counsel has been authorized by the Company and the Guarantors, (2) the
indemnified party has reasonably concluded (based upon advice of counsel to the
indemnified party) that there may be legal defenses available to the indemnified
party that are different from or in addition to those available to the Company
and the Guarantors or (3) a conflict or potential conflict exists (based upon
advice of counsel to the indemnified party) between the indemnified party, the
Company and the Guarantors; provided further, however, that in any such event
the reimbursement obligation of the Company and the Guarantors with respect to
separate counsel of the indemnified party will be limited to the reasonable fees
and expenses of such counsel.

<PAGE>

                                      -53-

                  The Company and the Guarantors need not pay for any settlement
made without their written consent, which consent shall not be unreasonably
withheld. The Company and the Guarantors need not reimburse any expense or
indemnify against any loss or liability incurred by the Trustee or an Agent as a
result of its own negligence or willful misconduct.

                  To secure the payment obligations of the Company and the
Guarantors in this Section 8.07, the Trustee shall have a Lien prior to the
Securities against all money or property held or collected by the Trustee, in
its capacity as Trustee, except money or property held in trust to pay principal
of or interest on particular Securities.

                  When the Trustee incurs expenses or renders services after an
Event of Default specified in Section 6.01(f) or (g) occurs, the expenses
(including the reasonable fees and expenses of its agents and counsel) and the
compensation for the services shall be preferred over the status of the Holders
in a proceeding under any Bankruptcy Law and are intended to constitute expenses
of administration under any Bankruptcy Law.

SECTION 8.08.           Replacement of Trustee.

                  The Trustee may resign at any time by so notifying the Company
in writing. The Holders of a majority in principal amount of the outstanding
Securities may remove the Trustee by so notifying the Trustee and the Company in
writing and may appoint a successor Trustee with the Company's consent. The
Company may remove the Trustee if:

                  (a) the Trustee fails to comply with Section 8.10;

                  (b) the Trustee is adjudged bankrupt or insolvent or an order
         for relief is entered with respect to the Trustee under any Bankruptcy
         Law;

                  (c) a Custodian or other public officer takes charge of the
         Trustee or its property; or

                  (d) the Trustee becomes incapable of acting.

                  If the Trustee resigns or is removed or if a vacancy exists in
the office of Trustee for any reason (the Trustee in such event being referred
to herein as the retiring Trustee), the Company shall promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the
Holders of a majority in principal amount of the Securities may appoint a
successor Trustee to replace the successor Trustee appointed by the Company.

                  A successor Trustee shall deliver a written acceptance of its
appointment to the retiring Trustee and to the Company. As promptly as
practicable after that, the retiring Trustee shall transfer, after payment of
all sums then owing to the Trustee pursuant to Section 8.07, all property held
by it as Trustee to the successor Trustee, subject to the Lien provided in
Section 8.07, the resignation or removal of the retiring Trustee shall become
effective, and the successor Trustee shall have the rights, powers and duties of
the Trustee under this Indenture. A successor Trustee shall mail notice of its
succession to each Holder.

                  If a successor Trustee does not take office within 60 days
after the retiring Trustee resigns or is removed, the retiring Trustee, the
Company or the Holders of at least 10% in principal amount of the outstanding
Securities may petition, at the expense of the Company, any court of competent
jurisdiction for the appointment of a successor Trustee.

<PAGE>

                                      -54-

                  If the Trustee fails to comply with Section 8.10, any Holder
may petition any court of competent jurisdiction for the removal of the Trustee
and the appointment of a successor Trustee.

                  Notwithstanding replacement of the Trustee pursuant to this
Section 8.08, the Company's obligations under Section 8.07 shall continue for
the benefit of the retiring Trustee.

SECTION 8.09.           Successor Trustee by Merger, etc.

                  If the Trustee consolidates with, merges or converts into, or
transfers all or substantially all of its corporate trust business to, another
corporation or banking corporation, the resulting, surviving or transferee
corporation or banking corporation without any further act shall be the
successor Trustee; provided, however, that such corporation shall be otherwise
qualified and eligible under this Article Eight.

SECTION 8.10.           Eligibility; Disqualification.

                  This Indenture shall always have a Trustee which shall be
eligible to act as Trustee under TIA Sections 310(a)(1) and 310(a)(2). The
Trustee shall have a combined capital and surplus of at least $50,000,000 as
set forth in its most recent published annual report of condition. If the
Trustee has or shall acquire any "conflicting interest" within the meaning of
TIA Section 310(b), the Trustee and the Company shall comply with the
provisions of TIA Section 310(b); provided, however, that there shall be
excluded from the operation of TIA Section 310(b)(1) any indenture or
indentures under which other securities or certificates of interest or
participation in other securities of the Company are outstanding if the
requirements for such exclusion set forth in TIA Section 310(b)(1) are met. If
at any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section 8.10, the Trustee shall resign immediately in the
manner and with the effect hereinbefore specified in this Article Eight. The
provisions of TIA Section 310 shall apply to the Company and any other obligor
of the Securities.

SECTION 8.11.           Preferential Collection of Claims Against the Company.

                  The Trustee shall comply with TIA Section 311(a), excluding
any creditor relationship listed in TIA Section 311(b). A Trustee who has
resigned or been removed shall be subject to TIA Section 311(a) to the extent
indicated therein.

                                  ARTICLE NINE

                       DISCHARGE OF INDENTURE; DEFEASANCE

SECTION 9.01.           Termination of the Company's Obligations.

                  The Company may terminate its obligations under the Securities
and this Indenture as well as the obligations of the Guarantors under their
respective Guarantees, except those obligations referred to in the penultimate
paragraph of this Section 9.01, if :

                  (i)      either (a) all the Securities theretofore
         authenticated and delivered (except lost, stolen or destroyed
         Securities which have been replaced or paid and Securities for whose
         payment money has theretofore been deposited in trust or segregated and
         held in trust by the Company and thereafter repaid to the Company or
         discharged from such trust) have been delivered to the Trustee for
         cancellation or (b) all Securities not theretofore delivered to the
         Trustee for cancellation have become due and payable

<PAGE>

                                      -55-

         or have been called for redemption and the Company has irrevocably
         deposited or caused to be deposited with the Trustee funds in an amount
         sufficient to pay and discharge the entire Indebtedness on the
         Securities not theretofore delivered to the Trustee for cancellation,
         for principal of, premium, if any, and interest on the Securities to
         the date of deposit together with irrevocable instructions from the
         Company directing the Trustee to apply such funds to the payment
         thereof at maturity or redemption, as the case may be;

                  (ii)     the Company has paid all other sums payable under
         this Indenture by the Company; and

                  (iii)    the Company has delivered to the Trustee an Officers'
         Certificate and an Opinion of Counsel stating that all conditions
         precedent under this Indenture relating to the satisfaction and
         discharge of this Indenture have been complied with.

                  Notwithstanding the first paragraph of this Section 9.01, the
Company's obligations in Sections 2.03, 2.04, 2.05, 2.06, 2.07, 8.07, 8.08, 9.05
and 9.06 shall survive until the Securities are no longer outstanding pursuant
to Section 2.08. After the Securities are no longer outstanding, the Company's
obligations in Sections 8.07, 8.08, 9.05 and 9.06 shall survive.

                  After such delivery or irrevocable deposit, the Trustee upon
request shall acknowledge in writing the discharge of the Company's and
Guarantors' obligations under the Securities, the Guarantees and this Indenture
except for those surviving obligations specified above.

SECTION 9.02.           Legal Defeasance and Covenant Defeasance

                  (a) The Company may terminate its obligations in respect of
the Securities by delivering all outstanding Securities to the Trustee for
cancellation and paying all sums payable by it on account of principal of and
interest on all Securities or otherwise. In addition to the foregoing, the
Company may, at its option, at any time elect to have either paragraph (b) or
(c) below be applied to all outstanding Securities, subject in either case to
compliance with the conditions set forth in Section 9.03.

                  (b) Upon the Company's exercise under paragraph (a) hereof of
the option applicable to this paragraph (b), the Company shall, subject to the
satisfaction of the conditions set forth in Section 9.03, be deemed to have paid
and discharged the entire indebtedness represented by the outstanding
Securities, except for (i) the rights of Holders to receive payments in respect
of the principal of, premium, if any, and interest on the Securities when such
payments are due, (ii) the Company's obligations with respect to the Securities
under Sections 2.03 through 2.07, inclusive, and 4.02, (iii) the rights, powers,
trust, duties and immunities of the Trustee under this Indenture and the
Company's obligations in connection therewith and (iv) Article Nine of this
Indenture (hereinafter, "Legal Defeasance"). Subject to compliance with this
Article Nine, the Company may exercise its option under this paragraph (b)
notwithstanding the prior exercise of its option under paragraph (c) hereof.

                  (c) Upon the Company's exercise under paragraph (a) hereof of
the option applicable to this paragraph (c), the Company shall, subject to the
satisfaction of the conditions set forth in Section 9.03, be released from its
obligations under Sections 4.03 through 4.16, inclusive, 4.19 and Article Five
with respect to the outstanding Securities (hereinafter, "Covenant Defeasance")
and thereafter any omission to comply with such obligations shall not constitute
a Default or an Event of Default with respect to the Securities.

<PAGE>

                                      -56-

SECTION 9.03.           Conditions to Legal Defeasance or Covenant Defeasance.

                  In order to exercise either Legal Defeasance pursuant to
Section 9.02(b) or Covenant Defeasance pursuant to Section 9.02(c):

                  (a) the Company must irrevocably deposit with the Trustee, in
         trust, for the benefit of the Holders, cash in U.S. dollars or United
         States Government Obligations, or a combination thereof, in such
         amounts as will be sufficient, in the opinion of a nationally
         recognized firm of independent public accountants, to pay the principal
         of, premium, if any, and interest on the Securities on the stated date
         for payment thereof or on the applicable redemption date, as the case
         may be;

                  (b) in the case of an election under Section 9.02(b), the
         Company shall have delivered to the Trustee an Opinion of Counsel in
         the United States reasonably acceptable to the Trustee confirming that
         (A) the Company has received from, or there has been published by, the
         Internal Revenue Service a ruling or (B) since the date of this
         Indenture, there has been a change in the applicable federal income tax
         law, in either case to the effect that, and based thereon such Opinion
         of Counsel shall confirm that, the Holders of the Securities will not
         recognize income, gain or loss for federal income tax purposes as a
         result of such Legal Defeasance and will be subject to federal income
         tax on the same amounts, in the same manner and at the same times as
         would have been the case if such Legal Defeasance had not occurred;

                  (c) in the case of an election under Section 9.02(c), the
         Company shall have delivered to the Trustee an Opinion of Counsel in
         the United States reasonably acceptable to the Trustee confirming that
         the Holders of the Securities will not recognize income, gain or loss
         for federal income tax purposes as a result of such Covenant Defeasance
         and will be subject to federal income tax on the same amounts, in the
         same manner and at the same times as would have been the case if such
         Covenant Defeasance had not occurred;

                  (d) no Default or Event of Default shall have occurred and be
         continuing on the date of such deposit (other than a Default or Event
         of Default resulting from the borrowing of funds to be applied to such
         deposit) or insofar as Sections 6.01(f) and 6.01(g) are concerned, at
         any time in the period ending on the 91st day after the date of such
         deposit;

                  (e) such Legal Defeasance or Covenant Defeasance shall not
         result in a breach or violation of or constitute a Default under this
         Indenture or any other material agreement or instrument to which the
         Company or any of its Restricted Subsidiaries is a party or by which
         the Company or any of its Restricted Subsidiaries is bound;

                  (f) the Company shall have delivered to the Trustee an
         Officers' Certificate stating that the deposit was not made by the
         Company with the intent of preferring the Holders over any other
         creditors of the Company or with the intent of defeating, hindering,
         delaying or defrauding any other creditors of the Company or others;

                  (g) the Company shall have delivered to the Trustee an
         Officers' Certificate and an Opinion of Counsel, each stating that all
         conditions precedent provided for or relating to the Legal Defeasance
         or the Covenant Defeasance have been complied with; and

                  (h) the Company shall have delivered to the Trustee an Opinion
         of Counsel to the effect that assuming no intervening bankruptcy or
         insolvency of the Company between the date of deposit and the

<PAGE>

                                      -57-

         91st day following the deposit and that no Holder is an insider of the
         Company, after the 91st day following the deposit, the trust funds will
         not be subject to the effect of any applicable bankruptcy, insolvency,
         reorganization or similar law affecting creditors' rights generally.

                  Notwithstanding the foregoing, the Opinion of Counsel required
by clause (b) above need not be delivered if all Securities not theretofore
delivered to the Trustee for cancellation (x) have become due and payable, (y)
will become due and payable on the Final Maturity Date within one year or (z)
are to be called for redemption within one year under arrangements satisfactory
to the Trustee for the giving of notice of redemption by the Trustee in the
name, and at the expense, of the Company.

SECTION 9.04.           Application of Trust Money; Trustee Acknowledgment and
                        Indemnity.

                  The Trustee shall hold in trust money or United States
Government Obligations deposited with it pursuant to Section 9.03, and shall
apply the deposited money and the money from United States Government
Obligations in accordance with this Indenture solely to the payment of principal
of, premium, if any, and interest on the Securities.

                  After such delivery or irrevocable deposit and delivery of an
Officers' Certificate and Opinion of Counsel, the Trustee upon request shall
acknowledge in writing the discharge of the Company's obligations under the
Securities and this Indenture except for those surviving obligations specified
above.

                  The Company shall pay and indemnify the Trustee against any
tax, fee or other charge imposed on or assessed against the United States
Government Obligations deposited pursuant to Section 9.03 or the principal and
interest received in respect thereof other than any such tax, fee or other
charge which by law is for the account of the Holders of outstanding Securities.

SECTION 9.05.           Repayment to Company.

                  Subject to Sections 8.07 and 9.04, the Trustee shall promptly
pay to the Company upon written request any excess money held by it at any time.
The Trustee shall pay to the Company upon written request any money held by it
for the payment of principal or interest that remains unclaimed for two years;
provided, however, that the Trustee before being required to make any payment
may at the expense of the Company cause to be published once in a newspaper of
general circulation in The City of New York or mail to each Holder entitled to
such money notice that such money remains unclaimed and that, after a date
specified therein which shall be at least 30 days from the date of such
publication or mailing, any unclaimed balance of such money then remaining shall
be repaid to the Company. After payment to the Company, Holders entitled to
money must look solely to the Company for payment as general creditors unless an
applicable abandoned property law designates another person and all liability of
the Trustee or Paying Agent with respect to such money shall thereupon cease.

SECTION 9.06.           Reinstatement.

                  If the Trustee is unable to apply any money or United States
Government Obligations in accordance with Section 9.02 by reason of any legal
proceeding or by reason of any order or judgment of any court or governmental
authority enjoining, restraining or otherwise prohibiting such application, the
Company's obligations under this Indenture and the Securities shall be revived
and reinstated as though no deposit had occurred pursuant to Section 9.02 until
such time as the Trustee is permitted to apply all such money or United States
Government Obligations in accordance with Section 9.02; provided, however, that
if the Company has made any payment of interest on or principal of any
Securities because of the reinstatement of its obligations, the

<PAGE>

                                      -58-

Company shall be subrogated to the rights of the Holders of such Securities to
receive such payment from the money or United States Government Obligations held
by the Trustee.

                                   ARTICLE TEN

                       AMENDMENTS, SUPPLEMENTS AND WAIVERS

SECTION 10.01.          Without Consent of Holders.

                  The Company and the Guarantors, when authorized by a
resolution of the Board of Directors, and the Trustee may amend or supplement
this Indenture or the Securities without notice to or consent of any Holder:

                  (a) to cure any ambiguity, defect or inconsistency; provided,
         however, that such amendment or supplement does not adversely affect
         the rights of any Holder;

                  (b) to effect the assumption by a successor Person of all
         obligations of the Company under the Securities and this Indenture in
         connection with any transaction complying with Article Five of this
         Indenture;

                  (c) to provide for uncertificated Securities in addition to or
         in place of certificated Securities;

                  (d) to comply with any requirements of the SEC in order to
         effect or maintain the qualification of this Indenture under the TIA;

                  (e) to make any change that would provide any additional
         benefit or rights to the Holders;

                  (f) to make any other change that does not adversely affect
         the rights of any Holder under this Indenture;

                  (g) to add to the covenants of the Company for the benefit of
         the Holders, or to surrender any right or power herein conferred upon
         the Company;

                  (h) to reflect the release of a Guarantor from its obligations
         with respect to its Guarantee in accordance with the provisions of
         Section 11.03 and to add a Guarantor pursuant to the requirements of
         Section 4.14; or

                  (i) to secure the Securities pursuant to the requirements of
         Section 4.16 or otherwise;

provided, however, that the Company has delivered to the Trustee an Opinion of
Counsel stating that such amendment or supplement complies with the provisions
of this Section 10.01.

SECTION 10.02.          With Consent of Holders.

                  Subject to Section 6.07, the Company and the Guarantors, when
authorized by a Board Resolution, and the Trustee may modify, amend or
supplement, or waive compliance by the Company with any

<PAGE>

                                      -59-

provision of, this Indenture or the Securities with the written consent of the
Holders of at least a majority in principal amount of the outstanding
Securities. However, without the consent of each Holder affected, no such
modification, amendment, supplement or waiver, including a waiver pursuant to
Section 6.04, may:

                  (a) [reserved];

                  (b) reduce the principal amount of or change the Stated
         Maturity of any Security or alter the provisions with respect to the
         repurchase or redemption of the Securities (other than provisions
         relating to Section 4.08 or 4.15);

                  (c) reduce the rate of or change the time for payment of
         interest on any Security;

                  (d) make any Security payable in money other than that stated
         in the Securities;

                  (e) make any change in the provisions of this Indenture
         relating to the rights of Holders of Securities to receive payments of
         principal of or premium, if any, or interest on the Securities;

                  (f) modify any provisions of Section 6.04 (other than to add
         sections of this Indenture or the Securities subject thereto) or 6.07
         or this Section 10.02 (other than to add sections of this Indenture or
         the Securities which may not be modified, amended, supplemented or
         waived without the consent of each Holder affected);

                  (g) reduce the percentage of the principal amount of
         outstanding Securities necessary for amendment to or waiver of
         compliance with any provision of this Indenture or the Securities or
         for waiver of any Default in respect thereof;

                  (h) waive a Default or Event of Default in the payment of
         principal of or premium, if any, or interest on the Securities (except
         a rescission of acceleration of the Securities by the Holders thereof
         as provided in Section 6.02 and a waiver of the payment default that
         resulted from such acceleration);

                  (i) waive a mandatory repurchase or redemption payment with
         respect to any Security required by Section 4.08 or 4.15; or

                  (j) modify the ranking or priority of any Security or the
         Guarantee in respect thereof of any Guarantor in any manner adverse to
         the Holders of the Securities.

                  It shall not be necessary for the consent of the Holders under
this Section 10.02 to approve the particular form of any proposed amendment,
supplement or waiver, but it shall be sufficient if such consent approves the
substance thereof.

                  After an amendment, supplement or waiver under this Section
10.02 becomes effective, the Company shall mail to the Holders affected thereby
a notice briefly describing the amendment, supplement or waiver. Any failure of
the Company to mail such notice, or any defect therein, shall not, however, in
any way impair or affect the validity of any such amendment, supplement or
waiver.

SECTION 10.03.          Compliance with Trust Indenture Act.

                  Every amendment to or supplement of this Indenture or the
Securities shall comply with the TIA as then in effect.

<PAGE>

                                      -60-

SECTION 10.04.          Record Date for Consents and Effect of Consents.

                  The Company may, but shall not be obligated to, fix a record
date for the purpose of determining the Holders of Securities entitled to
consent to any amendment, supplement or waiver. If a record date is fixed, then
those persons who were Holders of Securities at such record date (or their duly
designated proxies), and only those persons, shall be entitled to consent to
such amendment, supplement or waiver or to revoke any consent previously given,
whether or not such persons continue to be Holders of such Securities after such
record date. No such consent shall be valid or effective for more than 90 days
after such record date. The Trustee is entitled to rely upon any electronic
instruction from beneficial owners to the Holders of any Global Security.

                  After an amendment, supplement or waiver becomes effective, it
shall bind every Holder, unless it makes a change described in any of clauses
(a) through (j) of Section 10.02. In that case the amendment, supplement or
waiver shall bind each Holder of a Security who has consented to it and every
subsequent Holder of a Security or portion of a Security that evidences the same
debt as the consenting Holder's Security.

SECTION 10.05.          Notation on or Exchange of Securities.

                  If an amendment, supplement or waiver changes the terms of a
Security, the Trustee may require the Holder of the Security to deliver it to
the Trustee. The Trustee may place an appropriate notation on the Security about
the changed terms and return it to the Holder. Alternatively, if the Company or
the Trustee so determine, the Company in exchange for the Security shall issue
and the Trustee shall authenticate a new Security that reflects the changed
terms. Failure to make the appropriate notation or issue a new Security shall
not affect the validity and effect of such amendment, supplement or waiver.

SECTION 10.06.          Trustee To Sign Amendments, etc.

                  The Trustee shall be entitled to receive, and shall be fully
protected in relying upon, an Opinion of Counsel stating that the execution of
any amendment, supplement or waiver authorized pursuant to this Article Ten is
authorized or permitted by this Indenture and that such amendment, supplement or
waiver constitutes the legal, valid and binding obligation of the Company,
enforceable in accordance with its terms (subject to customary exceptions). The
Trustee may, but shall not be obligated to, execute any such amendment,
supplement or waiver which affects the Trustee's own rights, duties or
immunities under this Indenture or otherwise. In signing any amendment,
supplement or waiver, the Trustee shall be entitled to receive an indemnity
reasonably satisfactory to it.

                                 ARTICLE ELEVEN

                                   GUARANTEES

SECTION 11.01.          Unconditional Guarantee.

                  Each Guarantor hereby unconditionally, jointly and severally,
guarantees (each, a "Guarantee") to each Holder of a Security authenticated by
the Trustee and to the Trustee and its successors and assigns that: the
principal of and interest on the Securities will be promptly paid in full when
due, subject to any applicable grace period, whether at maturity, by
acceleration or otherwise, and interest on the overdue principal

<PAGE>

                                      -61-

and interest on any overdue interest on the Securities and all other obligations
of the Company to the Holders or the Trustee hereunder or under the Securities
will be promptly paid in full or performed, all in accordance with the terms
hereof and thereof; subject, however, to the limitations set forth in Section
11.04. Each Guarantor hereby agrees that its obligations hereunder shall be
unconditional, irrespective of the validity, regularity or enforceability of the
Securities or this Indenture, the absence of any action to enforce the same, any
waiver or consent by any Holder of the Securities with respect to any provisions
hereof or thereof, the recovery of any judgment against the Company, any action
to enforce the same or any other circumstance which might otherwise constitute a
legal or equitable discharge or defense of a Guarantor. Each Guarantor hereby
waives diligence, presentment, demand of payment, filing of claims with a court
in the event of insolvency or bankruptcy of the Company, any right to require a
proceeding first against the Company, protest, notice and all demands whatsoever
and covenants that the Guarantee will not be discharged except by complete
performance of the obligations contained in the Securities, this Indenture and
this Guarantee. If any Holder or the Trustee is required by any court or
otherwise to return to the Company, any Guarantor, or any custodian, trustee,
liquidator or other similar official acting in relation to the Company or any
Guarantor, any amount paid by the Company or any Guarantor to the Trustee or
such Holder, this Guarantee, to the extent theretofore discharged, shall be
reinstated in full force and effect. Each Guarantor further agrees that, as
between each Guarantor, on the one hand, and the Holders and the Trustee, on the
other hand, (x) the maturity of the obligations guaranteed hereby may be
accelerated as provided in Article Six for the purpose of this Guarantee,
notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations guaranteed hereby, and (y) in the
event of any acceleration of such obligations as provided in Article Six, such
obligations (whether or not due and payable) shall forth become due and payable
by each Guarantor for the purpose of this Guarantee.

SECTION 11.02.          Severability.

                  In case any provision of this Guarantee shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the
remaining provisions shall not in any way be affected or impaired thereby.

SECTION 11.03.          Release of a Guarantor.

                  (a) If the Securities are defeased in accordance with the
terms of this Indenture, or if, subject to the requirements of Section 5.01(a),
all or substantially all of the assets of any Subsidiary Guarantor or all of the
equity interests of any Subsidiary Guarantor are sold (including by issuance or
otherwise) by the Company in a transaction constituting an Asset Sale and (x)
the Net Cash Proceeds from such Asset Sale are used in accordance with Section
4.08 or (y) the Company delivers to the Trustee an Officers' Certificate to the
effect that the Net Cash Proceeds from such Asset Sale shall be used in
accordance with Section 4.08 and within the time limits specified by Section
4.08, then each Guarantor (in the case of defeasance) or such Subsidiary
Guarantor (in the event of a sale or other disposition of all of the equity
interests of such Guarantor) or the Person acquiring such assets (in the event
of a sale or other disposition of all or substantially all of the assets of such
Subsidiary Guarantor) shall be released and discharged from all obligations
under this Article Eleven without any further action required on the part of the
Trustee or any Holder. The Trustee shall, at the sole cost and expense of the
Company and upon receipt at the reasonable request of the Trustee of an Opinion
of Counsel that the provisions of this Section 11.03 have been complied with,
deliver an appropriate instrument evidencing such release upon receipt of a
request by the Company accompanied by an Officers' Certificate certifying as to
the compliance with this Section 11.03. Any Guarantor not so released remains
liable for the full amount of principal of and interest on the Securities and
the other obligations of the Company hereunder as provided in this Article
Eleven.

                 (b) Any Subsidiary Guarantor that is designated an Unrestricted
Subsidiary shall upon such designation be released and discharged of all
obligations under this Article Eleven without any further action required on the
part of the Trustee or any Holder.

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                                      -62-

SECTION 11.04.          Limitation of Guarantor's Liability.

                  Each Subsidiary Guarantor, and by its acceptance hereof each
Holder and the Trustee, hereby confirms that it is the intention of all such
parties that the Guarantee by such Subsidiary Guarantor pursuant to its
Guarantee not constitute a fraudulent transfer or conveyance for purposes of
title 11 of the United States Code, as amended, the Uniform Fraudulent
Conveyance Act, the Uniform Fraudulent Transfer Act or any similar U.S. Federal
or state or other applicable law. To effectuate the foregoing intention, the
Holders and each Subsidiary Guarantor hereby irrevocably agree that the
obligations of each Subsidiary Guarantor under its Guarantee shall be limited to
the maximum amount as will, after giving effect to all other contingent and
fixed liabilities of such Subsidiary Guarantor and after giving effect to any
collections from or payments made by or on behalf of any other Subsidiary
Guarantor in respect of the obligations of such other Subsidiary Guarantor under
its Guarantee or pursuant to Section 11.05, result in the obligations of such
Subsidiary Guarantor under its Guarantee not constituting such a fraudulent
transfer or conveyance.

SECTION 11.05.          Contribution.

                  In order to provide for just and equitable contribution among
the Guarantors, the Guarantors agree, inter se, that in the event any payment or
distribution is made by any Guarantor (a "Funding Guarantor") under the
Guarantee, such Funding Guarantor shall be entitled to a contribution from all
other Guarantors in a pro rata amount, based on the net assets of each Guarantor
(including the Funding Guarantor), determined in accordance with GAAP, subject
to Section 11.04, for all payments, damages and expenses incurred by such
Funding Guarantor in discharging the Company's obligations with respect to the
Securities or any other Guarantor's obligations with respect to the Guarantee.

SECTION 11.06.          Execution of Guarantee.

                  To further evidence its guarantee to the Holders, each of the
Guarantors hereby agrees to execute a Guarantee to be endorsed on each Security
ordered to be authenticated and delivered by the Trustee. Each Guarantor hereby
agrees that its Guarantee set forth in Section 11.01 shall remain in full force
and effect notwithstanding any failure to endorse on each Security a Guarantee.
Each such Guarantee shall be signed on behalf of each Guarantor by its Chairman
of the Board, its President or one of its Vice Presidents prior to the
authentication of the Security on which it is endorsed, and the delivery of such
Security by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of such Guarantee on behalf of such Guarantor. Such
signature upon the Guarantee may be manual or facsimile signature of such
officer and may be imprinted or otherwise reproduced on the Guarantee, and in
case such officer who shall have signed the Guarantee shall cease to be such
officer before the Security on which such Guarantee is endorsed shall have been
authenticated and delivered by the Trustee or disposed of by the Company, such
Security nevertheless may be authenticated and delivered or disposed of as
though the Person who signed the Guarantee had not ceased to be such officer of
such Guarantor.

SECTION 11.07.          Subordination of Subrogation and Other Rights.

                  Each Guarantor hereby agrees that any claim against the
Company that arises from the payment, performance or enforcement of such
Guarantor's obligations under its Guarantee or this Indenture, including,
without limitation, any right of subrogation, shall be subject and subordinate
to, and no payment with respect to any such claim of such Guarantor shall be
made before, the payment in full in cash of all outstanding Securities in
accordance with the provisions provided therefor in this Indenture.

<PAGE>

                                      -63-

                                 ARTICLE TWELVE

                           SUBORDINATION OF GUARANTEE

SECTION 12.01.          Agreement To Subordinate.

                  Each Guarantor agrees, and each Holder by accepting a
Guarantee agrees, that the Indebtedness of such Guarantor evidenced by the
Guarantee is subordinated in right of payment, to the extent and in the manner
provided in this Article Twelve, to the payment when due of all Guarantor Senior
Indebtedness of such Guarantor and that such subordination is for the benefit of
and enforceable by the holders of Guarantor Senior Indebtedness. The Guarantee
shall in all respects rank pari passu with all other Guarantor Senior
Subordinated Indebtedness of a Guarantor, and only Indebtedness of a Guarantor
which is Guarantor Senior Indebtedness will rank senior to the Guarantee in
accordance with the provisions set forth herein. Unsecured Indebtedness is not
deemed to be subordinate or junior to Secured Indebtedness merely because it is
unsecured, nor is any Indebtedness deemed to be subordinate or junior to other
Indebtedness merely because it matures after such other Indebtedness. Secured
Indebtedness is not deemed to be Senior Indebtedness merely because it is
secured. All provisions of this Article Twelve shall be subject to Section
12.12.

SECTION 12.02.          Liquidation, Dissolution, Bankruptcy.

                  Upon any payment or distribution of the assets of a Guarantor
upon a total or partial liquidation or dissolution or reorganization or
bankruptcy of or similar proceeding relating to a Guarantor or its property:

                  (1)      holders of Guarantor Senior Indebtedness of such
         Guarantor shall be entitled to receive payment in full in cash or Cash
         Equivalents of all Guarantor Senior Indebtedness of such Guarantor
         before Holders shall be entitled to receive any payment of principal of
         or interest on or other amounts with respect to the Securities from
         such Guarantor; and

                  (2)      until the Guarantor Senior Indebtedness of such
         Guarantor is paid in full, any payment or distribution to which Holders
         would be entitled but for the provisions of this Article Twelve shall
         be made to holders of Guarantor Senior Indebtedness as their interests
         may appear.

SECTION 12.03.          Default on Guarantor Senior Indebtedness.

                  No Guarantor may pay the principal of, premium (if any), or
interest on, and other obligations with respect to, the Securities or make any
deposit pursuant to Section 9.03 or repurchase, redeem or otherwise retire any
Securities (collectively, "pay the Securities") if (i) any Guarantor Senior
Indebtedness is not paid in cash or Cash Equivalents when due or (ii) any other
default on Guarantor Senior Indebtedness occurs and the maturity of such
Guarantor Senior Indebtedness is accelerated in accordance with its terms
unless, in either case, (x) the default has been cured or waived or is no longer
continuing and/or any such acceleration has been rescinded or (y) such Guarantor
Senior Indebtedness has been paid in full; provided, however, that the Guarantor
may pay the Securities subject to the provisions of Section 12.02, without
regard to the foregoing if the Guarantor and the Trustee receive written notice
approving such payment from the Representatives of the Senior Indebtedness with
respect to which either of the events set forth in clause (i) or (ii) of this
sentence has occurred or is continuing. During the continuance of any default
(other than a default described in clause (i) or (ii) of the preceding sentence)
with respect to any Designated Senior Indebtedness pursuant to which the
maturity thereof may be accelerated immediately without further notice (except
such notice as may be required to effect such acceleration) or the expiration of
any applicable grace periods, a Guarantor may not pay the Securities (except

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                                      -64-

(i) in Qualified Capital Stock issued by such Guarantor to pay interest on the
Securities or issued in exchange for the Securities, (ii) in securities
substantially identical to the Securities issued by such Guarantor in payment of
interest accrued thereon or (iii) in securities issued by such Guarantor which
are subordinated to the Guarantor Senior Indebtedness at least to the same
extent as the Securities and having a Weighted Average Life to Maturity at least
equal to the remaining Weighted Average Life to Maturity of the Securities) for
a period (a "Guarantor Payment Blockage Period") commencing upon the receipt by
the Trustee (with a copy to the Guarantor) of written notice (a "Guarantor
Blockage Notice") of such default from the Representative of the holders of such
Designated Senior Indebtedness specifying an election to effect a Guarantor
Payment Blockage Period and ending 179 days thereafter (or earlier if such
Guarantor Payment Blockage Period is terminated (i) by written notice to the
Trustee and the Guarantor from the Person or Persons who gave such Guarantor
Blockage Notice, (ii) because the default giving rise to such Guarantor Blockage
Notice is no longer continuing or (iii) because such Designated Senior
Indebtedness has been repaid in full). Notwithstanding the provisions of the
immediately preceding sentence, but subject to the provisions of the first
sentence of this Section 12.03 and the provisions of Section 12.02, the
Guarantor may resume payments on the Securities after the end of such Payment
Blockage Period. Not more than one Blockage Notice may be given, and not more
than one Payment Blockage Period may occur, in any consecutive 360-day period,
irrespective of the number of defaults with respect to Designated Senior
Indebtedness during such period. However, if any Blockage Notice within such
360-day period is given by or on behalf of any holders of Designated Senior
Indebtedness (other than the agent under the Senior Credit Facilities), the
agent under the Senior Credit Facilities may give another Blockage Notice within
such period. In no event, however, may the total number of days during which any
Payment Blockage Period or Payment Blockage Periods are in effect exceed 179
days in the aggregate during any 360 consecutive day period. No nonpayment
default that existed or was continuing on the date of delivery of any Blockage
Notice to the Trustee shall be, or be made, the basis for a subsequent Blockage
Notice unless such default shall have been cured or waived for a period of not
less than 90 consecutive days.

SECTION 12.04.          Acceleration of Payment of Securities.

                  If a notice is required pursuant to the first sentence of
Section 7.04, no Guarantor may pay the Securities (except payment (i) in
Qualified Capital Stock issued by the Guarantor to pay interest on the
Securities or issued in exchange for the Securities, (ii) in securities
substantially identical to the Securities issued by the Guarantor in payment of
interest accrued thereon or (iii) securities issued by the Guarantor which are
subordinated to the Guarantor Senior Indebtedness at least to the same extent as
the Securities and have a Weighted Average Life to Maturity at least equal to
the remaining Weighted Average Life to Maturity of the Securities), until five
Business Days after the respective Representative of the Designated Senior
Indebtedness receives notice (at the address specified in the preceding
sentence) of such acceleration and thereafter, may pay the Securities only if
the provisions of this Article Twelve otherwise permit payment at that time.

SECTION 12.05.          When Distribution Must Be Paid Over.

                  If a distribution is made to the Trustee or to Holders that
because of this Article Twelve should not have been made to them, the Trustee or
the Holders who receive such distribution shall hold it in trust for holders of
Guarantor Senior Indebtedness and promptly pay it over to them as their
respective interests may appear; provided, however, that the liabilities of the
Trustee under this Section 12.05 are limited by Section 12.15.

SECTION 12.06.          Subrogation.

                  After all Guarantor Senior Indebtedness is paid in full and
until the Securities are paid in full, Holders shall be subrogated to the rights
of holders of Guarantor Senior Indebtedness to receive distributions

<PAGE>

                                      -65-

applicable to Guarantor Senior Indebtedness. A distribution made under this
Article Twelve to holders of Guarantor Senior Indebtedness which otherwise would
have been made to Holders is not, as between the Guarantor and the Holders, a
payment by any Guarantor of Guarantor Senior Indebtedness.

SECTION 12.07.          Relative Rights.

                  This Article Twelve defines the relative rights of Holders of
the Securities on the one hand and holders of Guarantor Senior Indebtedness on
the other hand. Nothing in this Indenture shall:

                  (a) impair, as between the Guarantor and the Holders, the
         obligations of any Guarantor, which are absolute and unconditional, in
         respect of its Guarantee; or

                  (b) prevent the Trustee or any Holder from exercising its
         available remedies upon a Default or Event of Default, subject to the
         rights of holders of Guarantor Senior Indebtedness to receive
         distributions otherwise payable to Holders.

SECTION 12.08.          Subordination May Not Be Impaired by Guarantor.

                  No right of any holder of Guarantor Senior Indebtedness to
enforce the subordination of the obligations under any Guarantee evidenced by
the Securities shall be impaired by any act or failure to act by any Guarantor
or by the failure of any Guarantor to comply with this Indenture.

SECTION 12.09.          Rights of Trustee and Paying Agent.

                  Notwithstanding Section 12.03, the Trustee or Paying Agent may
continue to make payments on the Securities and shall not be charged with
knowledge of the existence of facts that would prohibit the making of any such
payments unless, not less than two Business Days prior to the date of such
payment, a Trust Officer of the Trustee receives notice satisfactory to it that
payments may not be made under this Article Twelve. A Guarantor, the Registrar
or co-registrar, the Paying Agent, a Representative or a holder of Guarantor
Senior Indebtedness may give the notice; provided, however, that if an issue of
Guarantor Senior Indebtedness has a Representative, only the Representative may
give the notice.

                  The Trustee in its individual or any other capacity may hold
Guarantor Senior Indebtedness with the same rights it would have if it were not
Trustee. The Registrar and co-registrar and the Paying Agent may do the same
with like rights. The Trustee shall be entitled to all the rights set forth in
this Article Twelve with respect to any Guarantor Senior Indebtedness which may
at any time be held by it, to the same extent as any other holder of Guarantor
Senior Indebtedness; and nothing in Article Twelve shall deprive the Trustee of
any of its rights as such holder. Nothing in this Article Twelve shall apply to
claims of, or payments to, the Trustee under or pursuant to Section 8.07.

SECTION 12.10.          Distribution or Notice to Representative.

                  Whenever a distribution is to be made or a notice given to
holders of Guarantor Senior Indebtedness, the distribution may be made and the
notice given to their Representative, if any.

SECTION 12.11.          Article Twelve Not To Prevent Events of Default or Limit
                        Right To Accelerate.

                  The failure to make a payment in respect of the Securities by
reason of any provision in this Article Twelve shall not be construed as
preventing the occurrence of a Default or Event of Default. Nothing in

<PAGE>

                                      -66-

this Article Twelve shall have any effect on the right of the Holders or the
Trustee to enforce any Guarantee or to accelerate the maturity of the
Securities.

SECTION 12.12.          Trust Moneys Not Subordinated.

                  Notwithstanding anything contained herein to the contrary,
payments from money or the proceeds of U.S. Government Obligations held in trust
under Article Eight by the Trustee for payment in respect of the Guarantees
shall not be subordinated to the prior payment of any Guarantor Senior
Indebtedness or subject to the restrictions set forth in this Article Twelve,
and none of the Holders shall be obligated to pay over any such amount to such
Guarantor, any holder of Guarantor Senior Indebtedness of such Guarantor, or any
other creditor of such Guarantor.

SECTION 12.13.          Trustee Entitled To Rely.

                  Upon any payment or distribution pursuant to this Article
Twelve, the Trustee and the Holders shall be entitled to rely (i) upon any order
or decree of a court of competent jurisdiction in which any proceedings of the
nature referred to in Section 12.02 are pending, (ii) upon a certificate of the
liquidating trustee or agent or other Person making such payment or distribution
to the Trustee or to the Holders or (iii) upon the Representatives for the
holders of Guarantor Senior Indebtedness for the purpose of ascertaining the
Persons entitled to participate in such payment or distribution, the holders of
Guarantor Senior Indebtedness and other Indebtedness of any Guarantor, the
amount thereof or payable thereon, the amount or amounts paid or distributed
thereon and all other facts pertinent thereto or to this Article Twelve. In the
event that the Trustee determines, in good faith, that evidence is required with
respect to the right of any Person as a holder of Guarantor Senior Indebtedness
to participate in any payment or distribution pursuant to this Article Twelve,
the Trustee may request such Person to furnish evidence to the reasonable
satisfaction of the Trustee as to the amount of Guarantor Senior Indebtedness
held by such Person, the extent to which such Person is entitled to participate
in such payment or distribution and other facts pertinent to the rights of such
Person under this Article Twelve, and, if such evidence is not furnished, the
Trustee may defer any payment to such Person pending judicial determination as
to the right of such Person to receive such payment. The Trustee shall have the
right to seek a declaratory judgment as to any right of such Person to receive
such payment. The provisions of Sections 8.01 and 8.02 shall be applicable to
all actions or omissions of actions by the Trustee pursuant to this Article
Twelve.

SECTION 12.14.          Trustee To Effectuate Subordination.

                  Each Holder by accepting a Guarantee authorizes and directs
the Trustee on his behalf to take such action as may be necessary or appropriate
to acknowledge or effectuate the subordination between the Holder and the
holders of Guarantor Senior Indebtedness as provided in this Article Twelve and
appoints the Trustee as attorney-in-fact for any and all such purposes.

SECTION 12.15.          Trustee Not Fiduciary for Holders of Guarantor Senior
                        Indebtedness.

                  The Trustee shall not be deemed to owe any fiduciary duty to
the holders of Guarantor Senior Indebtedness and shall not be liable to any such
holders if it shall mistakenly pay over or distribute to Holders or the
Guarantor, or any other Person, money or assets to which any holders of
Guarantor Senior Indebtedness shall be entitled by virtue of this Article Twelve
or otherwise.

<PAGE>

                                      -67-

SECTION 12.16.          Reliance by Holders of Guarantor Senior Indebtedness on
                        Subordination Provisions.

                  Each Holder by accepting a Guarantee acknowledges and agrees
that the foregoing subordination provisions are, and are intended to be, an
inducement and a consideration to each holder of any Guarantor Senior
Indebtedness, whether such Guarantor Senior Indebtedness was created or acquired
before or after the issuance of the Guarantee, to acquire and continue to hold,
or to continue to hold, such Guarantor Senior Indebtedness and such holder of
Guarantor Senior Indebtedness shall be deemed conclusively to have relied on
such subordination provisions in acquiring and continuing to hold, or in
continuing to hold, such Guarantor Senior Indebtedness.

                                ARTICLE THIRTEEN

                                  MISCELLANEOUS

SECTION 13.01.          Trust Indenture Act Controls.

                  This Indenture is subject to the provisions of the TIA that
are required to be a part of this Indenture, and shall, to the extent
applicable, be governed by such provisions. If any provision of this Indenture
modifies any TIA provision that may be so modified, such TIA provision shall be
deemed to apply to this Indenture as so modified. If any provision of this
Indenture excludes any TIA provision that may be so excluded, such TIA provision
shall be excluded from this Indenture.

                  The provisions of TIA Sections 310 through 317 that impose
duties on any Person (including the provisions automatically deemed included
unless expressly excluded by this Indenture) are a part of and govern this
Indenture, whether or not physically contained herein.

SECTION 13.02.          Notices.

                  Any notice or communication shall be sufficiently given if in
writing and delivered in person, by facsimile and confirmed by overnight
courier, or mailed by first-class mail addressed as follows:

                  if to the Company:

                  LIN Television Corporation
                  Four Richmond Square, Suite 230E
                  Providence, Rhode Island 02906
                  Attention: Deborah Jacobson

                  Facsimile: (401) 457-9403
                  Telephone: (401) 273-8779

<PAGE>

                                      -68-

                  Copy to:

                  Hicks, Muse, Tate & Furst Incorporated
                  200 Crescent Court, Suite 1600
                  Dallas, Texas  75201
                  Attention: Peter Brodsky

                  Facsimile: (214) 740-7363
                  Telephone: (214) 720-7888

                  if to the Trustee:

                  The Bank of New York
                  101 Barclay Street
                  New York, New York  10286
                  Attention: Corporate Trust Department

                  Facsimile: (212) 815-7760
                  Telephone: (212) 815-5733

                  The Company or the Trustee by notice to the other may
designate additional or different addresses for subsequent notices or
communications.

                  Any notice or communication mailed, first-class, postage
prepaid, to a Holder including any notice delivered in connection with TIA
Section 310(b), TIA Section 313(c), TIA Section 314(a) and TIA Section 315(b),
shall be mailed to him at his address as set forth on the Security register and
shall be sufficiently given to him if so mailed within the time prescribed. To
the extent required by the TIA, any notice or communication shall also be
mailed to any Person described in TIA Section 313(c).

                  Failure to mail a notice or communication to a Holder or any
defect in it shall not affect its sufficiency with respect to other Holders.
Except for a notice to the Trustee, which is deemed given only when received, if
a notice or communication is mailed in the manner provided above, it is duly
given, whether or not the addressee receives it.

SECTION 13.03.          Communications by Holders with Other Holders.

                  Holders may communicate pursuant to TIA Section 312(b) with
other Holders with respect to their rights under this Indenture or the
Securities. The Company, the Trustee, the Registrar and any other person shall
have the protection of TIA Section 312(c).

SECTION 13.04.          Certificate and Opinion as to Conditions Precedent.

                  Upon any request or application by the Company to the Trustee
to take or refrain from taking any action under this Indenture, the Company
shall furnish to the Trustee at the request of the Trustee:

                  (1)      an Officers' Certificate in form and substance
         satisfactory to the Trustee stating that, in the opinion of the
         signers, all conditions precedent, if any, provided for in this
         Indenture relating to the proposed action have been complied with; and

<PAGE>

                                      -69-

                  (2)      an Opinion of Counsel in form and substance
         satisfactory to the Trustee stating that, in the opinion of such
         counsel, all such conditions precedent have been complied with;
         provided, however, that with respect to matters of fact an Opinion of
         Counsel may rely on an Officers' Certificate or certificates of public
         officials.

SECTION 13.05.          Statements Required in Certificate.

                  Each certificate with respect to compliance with a condition
or covenant provided for in this Indenture shall include:

                  (1)      a statement that the person making such certificate
         has read such covenant or condition;

                  (2)      a brief statement as to the nature and scope of the
         examination or investigation upon which the statements contained in
         such certificate are based;

                  (3)      a statement that, in the opinion of such person, he
         has made such examination or investigation as is necessary to enable
         him to express an informed opinion as to whether or not such covenant
         or condition has been complied with; and

                  (4)      a statement as to whether or not, in the opinion of
         such person, such condition or covenant has been complied with.

SECTION 13.06.          Rules by Trustee, Paying Agent, Registrar.

                  The Trustee may make reasonable rules for action by or at a
meeting of Holders. The Paying Agent or Registrar may make reasonable rules for
its functions.

SECTION 13.07.          Governing Law.

                  THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN THIS INDENTURE,
THE SECURITIES AND THE GUARANTEES WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF
LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD
BE REQUIRED THEREBY.

SECTION 13.08.          No Recourse Against Others.

                  No director, officer, employee, incorporator or stockholder of
the Company or any Guarantor, as such, shall have any liability for any
obligations of the Company or any Guarantor under the Securities or the
Guarantees, as the case may be, or this Indenture or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each Holder by
accepting a Security and the Guarantees waives and releases all such liability.
The waiver and release are part of the consideration for the issuance of the
Securities and the Guarantees.

SECTION 13.09.          Successors.

                  All agreements of the Company in this Indenture and the
Securities shall bind its successor. All agreements of each Guarantor in this
Indenture shall bind its successor. All agreements of the Trustee in this
Indenture shall bind its successor.

<PAGE>

                                      -70-

SECTION 13.10.          Counterpart Originals.

                  The parties may sign any number of copies of this Indenture.
Each signed copy shall be an original, but all of them together represent the
same agreement.

SECTION 13.11.          Severability.

                  In case any provision in this Indenture, in the Securities or
in the Guarantees shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby, and a Holder shall have no claim therefor against
any party hereto.

SECTION 13.12.          No Adverse Interpretation of Other Agreements.

                  This Indenture may not be used to interpret another indenture,
loan or debt agreement of the Company or a Subsidiary of the Company. Any such
indenture, loan or debt agreement may not be used to interpret this Indenture.

SECTION 13.13.          Legal Holidays.

                  If a payment date is not a Business Day at a place of payment,
payment may be made at that place on the next succeeding Business Day.

                  [Remainder of page intentionally left blank]

<PAGE>

                                       S-1

                                   SIGNATURES

                  IN WITNESS WHEREOF, the parties hereto have caused this
Indenture to be duly executed as of the date first written above.

                                 LIN TELEVISION CORPORATION

                                 By: /s/ Denise M. Parent
                                     -------------------------------------------
                                     Name:  Denise M. Parent
                                     Title: Vice President, Deputy General
                                            Counsel

                                 LIN TV CORP., as Guarantor

                                 By: /s/ Denise M. Parent
                                     -------------------------------------------
                                     Name:  Denise M. Parent
                                     Title: Vice President, Deputy General
                                            Counsel

                                 AIRWAVES, INC.
                                 KXAN, INC.
                                 KXTX HOLDINGS, INC.
                                 LINBENCO, INC.
                                 LIN SPORTS, INC.
                                 LIN TELEVISION OF SAN JUAN, INC.
                                 LIN TELEVISION OF TEXAS, INC.
                                 PRIMELAND TELEVISION, INC.
                                 NORTH TEXAS BROADCASTING
                                    CORPORATION
                                 WNJX-TV, INC.
                                 WOOD TELEVISION, INC.
                                 WTNH BROADCASTING, INC.
                                 TVL BROADCASTING OF ABILENE, INC.
                                 TVL BROADCASTING, INC.
                                 WEYI TELEVISION, INC.
                                   as Guarantors

                                 By: /s/ Denise M. Parent
                                     -------------------------------------------
                                     Name:  Denise M. Parent
                                     Title: Vice President, Deputy General
                                            Counsel

<PAGE>

                                       S-2

                                 TELEVICENTRO OF PUERTO RICO,
                                   LLC, as a Guarantor

                                 By: LIN Television of San Juan, Inc.,
                                     its Managing Member

                                 By: /s/ Denise M. Parent
                                     -------------------------------------------
                                     Name:  Denise M. Parent
                                     Title: Vice President, Deputy General
                                            Counsel

                                 INDIANA BROADCASTING, LLC
                                 LIN AIRTIME, LLC
                                 PROVIDENCE BROADCASTING, LLC
                                 WAVY BROADCASTING, LLC
                                 WOOD LICENSE CO., LLC
                                 WIVB BROADCASTING, LLC
                                 WWLP BROADCASTING, LLC
                                   as Guarantors

                                 By: LIN Television Corporation,
                                     its Managing Member

                                 By: /s/ Denise M. Parent
                                     ------------------------------------------
                                     Name:  Denise M. Parent
                                     Title: Vice President, Deputy General
                                            Counsel

                                 LIN TELEVISION OF TEXAS, L.P.
                                     as Guarantor

                                 By: LIN Television of Texas, Inc.,
                                     its General Partner

                                 By: /s/ Denise M. Parent
                                     -----------------------------------------
                                     Name:  Denise M. Parent
                                     Title: Vice President, Deputy General
                                            Counsel
<PAGE>

                                       S-3

                                 ABILENE BROADCASTING, LLC
                                 TVL BROADCASTING OF RHODE
                                   ISLAND, LLC
                                 WDTN BROADCASTING, LLC
                                 WEYI BROADCASTING, LLC
                                 WUPW BROADCASTING, LLC
                                   as Guarantors

                                 By: TVL Broadcasting, Inc.,
                                     its Managing Member

                                 By: /s/ Denise M. Parent
                                     ------------------------------------------
                                     Name:  Denise M. Parent
                                     Title: Vice President, Deputy General
                                            Counsel

                                 THE BANK OF NEW YORK,
                                   as Trustee

                                 By: /s/ Margaret Ciesmelewski
                                     -------------------------------------------
                                     Name:  Margaret Ciesmelewski
                                     Title: Vice President

<PAGE>

                                                                       EXHIBIT A

                           [FORM OF SERIES A SECURITY]

                  THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES LAWS.
NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED,
SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE
ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT
SUBJECT TO, REGISTRATION.

                  THE HOLDER OF THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES TO
OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE "RESALE
RESTRICTION TERMINATION DATE") WHICH IS TWO YEARS AFTER THE LATER OF THE
ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY
AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF
SUCH SECURITY), ONLY (A) TO THE COMPANY, (B) PURSUANT TO A REGISTRATION
STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO
LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A
PERSON IT REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN
RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE
ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE
TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND
SALES THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S
UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL "ACCREDITED INVESTOR" WITHIN
THE MEANING OF RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT THAT IS
ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN
INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF
THE SECURITIES OF $250,000, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO OR
FOR OFFER OR SALE IN CONNECTION WITH ANY DISTRIBUTION IN VIOLATION OF THE
SECURITIES ACT, OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUERS' AND THE
TRUSTEE'S RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE
(D), (E) OR (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION
AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM AND, IN THE CASE OF THE
FOREGOING CLAUSE (D), A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE
OTHER SIDE OF THIS SECURITY COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE
ISSUERS AND THE TRUSTEE. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE
HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.

                                       A-1

<PAGE>

                           LIN TELEVISION CORPORATION

                    6 1/2% Senior Subordinated Note due 2013

                                                                  CUSIP No.:[  ]

No. [    ]                                                               $[    ]

                  LIN TELEVISION CORPORATION, a Delaware corporation (the
"Company," which term includes any successor corporation), for value received,
promises to pay to [      ] or registered assigns the principal sum of [       ]
Dollars, on May 15, 2013.

                  Interest Payment Dates: May 15 and November 15, commencing on
[        ],

                  Interest Record Dates:  May 1 and November 1.

                  Reference is made to the further provisions of this Security
contained herein, which will for all purposes have the same effect as if set
forth at this place.

                  IN WITNESS WHEREOF, the Company has caused this Security to be
signed manually or by facsimile by its duly authorized officers.

                                       LIN TELEVISION CORPORATION

                                       By: _____________________________________
                                           Name:
                                           Title:

Dated:

                                       A-2

<PAGE>

                [FORM OF TRUSTEE'S CERTIFICATE OF AUTHENTICATION]

                  This is one of the 6 1/2% Senior Subordinated Notes due 2013
described in the within-mentioned Indenture.

Dated:

                                       THE BANK OF NEW YORK, as Trustee

                                       By: _____________________________________
                                           Authorized Signatory

                                       A-3

<PAGE>

                              (REVERSE OF SECURITY)

                           LIN TELEVISION CORPORATION

                    6 1/2% Senior Subordinated Note due 2013

1.       Interest.

                  LIN TELEVISION CORPORATION promises to pay interest on the
principal amount of this Security at the rate per annum shown above. Cash
interest on the Securities will accrue from the most recent date to which
interest has been paid or, if no interest has been paid, from [        ]. The
Company will pay interest semi-annually in arrears on each Interest Payment
Date, commencing on [        ]. Interest will be computed on the basis of a
360-day year of twelve 30-day months.

                  The Company shall pay interest on overdue principal from time
to time on demand and on overdue installments of interest (without regard to any
applicable grace periods) to the extent lawful from time to time on demand, in
each case at the rate borne by the Securities.

2.       Method of Payment.

                  The Company shall pay interest on the Securities (except
defaulted interest) to the persons who are the registered Holders at the close
of business on the Interest Record Date immediately preceding the Interest
Payment Date even if the Securities are canceled on registration of transfer or
registration of exchange after such Interest Record Date. Holders must surrender
Securities to a Paying Agent to collect principal payments. The Company shall
pay principal and interest in money of the United States that at the time of
payment is legal tender for payment of public and private debts ("U.S. Legal
Tender"). However, the Company may pay principal and interest by wire transfer
of Federal funds (provided that the Paying Agent shall have received wire
instructions on or prior to the relevant Interest Record Date), or interest by
check payable in such U.S. Legal Tender. The Company may deliver any such
interest payment to the Paying Agent or to a Holder at the Holder's registered
address.

3.       Paying Agent and Registrar.

                  Initially, The Bank of New York (the "Trustee") will act as
Paying Agent and Registrar. The Company may change any Paying Agent or Registrar
without notice to the Holders. The Company may, subject to certain exceptions,
act as Registrar.

4.       Indenture.

                  The Company issued the Securities under an Indenture, dated as
of May 12, 2003 (the "Indenture"), by and among the Company, the Guarantors
named therein and the Trustee. Capitalized terms herein are used as defined in
the Indenture unless otherwise defined herein. This Security is one of a duly
authorized issue of Securities of the Company designated as its 6 1/2% Senior
Subordinated Notes due 2013, Series A (the "Initial Securities"), which may be
issued under the Indenture. Subject to compliance with Section 4.04 of the
Indenture, the Company shall be entitled to issue Additional Securities pursuant
to Section 2.17 of the Indenture. The Securities include the Initial Securities,
the Private Exchange Securities (as defined in the

                                       A-4

<PAGE>

Indenture) and the Unrestricted Securities (as defined in the Indenture). All
Securities issued under the Indenture are treated as a single class of
securities under the Indenture. The terms of the Securities include those stated
in the Indenture and those made part of the Indenture by reference to the Trust
Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) (the "TIA"), as in
effect on the date of the Indenture (except as otherwise indicated in the
Indenture) until such time as the Indenture is qualified under the TIA, and
thereafter as in effect on the date on which the Indenture is qualified under
the TIA. Notwithstanding anything to the contrary herein, the Securities are
subject to all such terms, and Holders are referred to the Indenture and the TIA
for a statement of them. The Securities are general unsecured obligations of the
Company. The Securities are subordinated in right of payment to all existing and
future Senior Indebtedness of the Company to the extent and in the manner
provided in the Indenture. Each Holder of a Security, by accepting a Security,
agrees to such subordination, authorizes the Trustee to give effect to such
subordination and appoints the Trustee as attorney-in-fact for such purpose.

5.       Optional Redemption.

                  (a) The Securities will be redeemable at the option of the
Company, in whole or in part, at any time on or after May 15, 2008, at the
redemption prices (expressed as a percentage of principal amount) set forth
below, plus accrued and unpaid interest thereon, if any, to the Redemption Date
(subject to the right of Holders of record on the relevant Interest Record Date
to receive interest due on the relevant Interest Payment Date) if redeemed
during the 12-month period commencing on May 15 of the years indicated below:

<TABLE>
<CAPTION>
Year                                                  Percentage
----                                                  ----------
<S>                                                   <C>
2008                                                   103.250%
2009                                                   102.167%
2010                                                   101.083%
2011 and thereafter                                    100.000%
</TABLE>

                  (b) Prior to May 15, 2008, the Company may, at its option, use
the net cash proceeds of one or more Equity Offerings to redeem up to 35% of the
principal amount of the Securities at a redemption price equal to 106.500% of
the principal amount thereof plus accrued and unpaid interest to the redemption
date; provided, however, that after any such redemption, at least 65% of the
aggregate principal amount of the Securities originally issued would remain
outstanding immediately after giving effect to such redemption. Any such
redemption will be required to occur on or prior to the date that is one year
after the receipt by the Company of the proceeds of an Equity Offering. The
Company shall effect such redemption on a pro rata basis.

                  (c) Prior to May 15, 2008, upon the occurrence of a Change of
Control, the Company will have the option to redeem the Securities in whole but
not in part (a "Change of Control Redemption") at a redemption price equal to
100% of the principal amount thereof, plus accrued and unpaid interest to the
redemption date, plus the Applicable Premium. In order to effect a Change of
Control Redemption, the Company must send a notice to each Holder, which notice
shall govern the terms of the Change of Control Redemption. Such notice must
comply with the provisions of Section 3.03 of the Indenture; provided, however,
that such notice must be mailed to Holders within 30 days following the date the
Change of Control occurred (the "Change of Control Redemption Date") and state
that the Company is effecting a Change of Control Redemption in lieu of a Change
of Control Offer.

                  "Applicable Premium" means, with respect to a Security at any
Change of Control Redemption Date, the greater of (i) 1.0% of the principal
amount of such Security and (ii) the excess of (A) the present value at such
time of (1) the redemption price of such Security at May 15, 2008 (such
redemption price being described in paragraph (a) above) plus (2) all
semi-annual payments of interest through May 15, 2008 computed using a discount
rate equal to the Treasury Rate plus 75 basis points over (B) the principal
amount of such Security.

                                       A-5

<PAGE>

                  "Treasury Rate" means the yield to maturity at the time of
computation of United States Treasury Securities with a constant maturity (as
compiled and published in the most recent Federal Reserve Statistical Release
H.15(519) that has become publicly available at least two business days prior to
the Change of Control Redemption Date (or, if such Statistical Release is no
longer published, any publicly available source of similar market data)) most
nearly equal to the period from the Change of Control Redemption Date to May 15,
2008; provided, however, that if the period from the Change of Control
Redemption Date to May 15, 2008 is not equal to the constant maturity of a
United States Treasury security for which a weekly average yield is given, the
Treasury Rate shall be obtained by linear interpolation (calculated to the
nearest one-twelfth of a year) from the weekly average yields of United States
Treasury Securities for which such yields are given except that if the period
from the Change of Control Redemption Date to May 15, 2008 is less than one
year, the weekly average yield on actually traded United States Treasury
Securities adjusted to a constant maturity of one year shall be used.

6.       Notice of Redemption.

                  Notice of redemption will be mailed by first-class mail at
least 30 days but not more than 60 days before the Redemption Date to each
Holder of Securities to be redeemed at its registered address. The Trustee may
select for redemption portions of the principal amount of Securities that have
denominations equal to or larger than $1,000 principal amount. Securities and
portions of them the Trustee so selects shall be in amounts of $1,000 principal
amount or integral multiples thereof.

                  If any Security is to be redeemed in part only, the notice of
redemption that relates to such Security shall state the portion of the
principal amount thereof to be redeemed. A new Security in a principal amount
equal to the unredeemed portion thereof will be issued in the name of the Holder
thereof upon cancellation of the original Security. On and after the Redemption
Date, interest will cease to accrue on Securities or portions thereof called for
redemption so long as the Company has deposited with the Paying Agent for the
Securities funds in satisfaction of the redemption price pursuant to the
Indenture and the Paying Agent is not prohibited from paying such funds to the
Holders pursuant to the terms of the Indenture.

7.       Change of Control Offer.

                  Following the occurrence of a Change of Control (the date of
such occurrence being the "Change of Control Date"), the Company shall, within
30 days after the Change of Control Date, be required to offer to purchase all
Securities then outstanding at a purchase price in cash equal to 101% of the
aggregate principal amount thereof, plus accrued and unpaid interest thereon, if
any, to the date of such purchase (subject to the right of Holders of record on
the relevant Interest Record Date to receive interest due on the relevant
Interest Payment Date).

8.       Limitation on Disposition of Assets.

                  The Company is, subject to certain conditions and certain
exceptions, obligated to offer to purchase the Securities at a purchase price
equal to 100% of the principal amount thereof, plus accrued and unpaid interest
thereon, if any, to the date of such purchase (subject to the right of Holders
of record on the relevant Interest Record Date to receive interest due on the
relevant Interest Record Date) with the proceeds of certain asset dispositions.

                                       A-6

<PAGE>

9.       Denominations; Transfer; Exchange.

                  The Securities are in registered form, without coupons, in
denominations of $1,000 and integral multiples of $1,000. A Holder shall
register the transfer of or exchange Securities in accordance with the
Indenture. The Registrar may require a Holder, among other things, to furnish
appropriate endorsements and transfer documents and to pay certain transfer
taxes or similar governmental charges payable in connection therewith as
permitted by the Indenture. The Registrar need not register the transfer of or
exchange any Securities or portions thereof selected for redemption, except the
unredeemed portion of any security being redeemed in part.

10.      Persons Deemed Owners.

                  The registered Holder of a Security shall be treated as the
owner of it for all purposes.

11.      Unclaimed Funds.

                  If funds for the payment of principal or interest remain
unclaimed for two years, the Trustee and the Paying Agent will repay the funds
to the Company at their written request. After that, all liability of the
Trustee and such Paying Agent with respect to such funds shall cease.

12.      Legal Defeasance and Covenant Defeasance.

                  The Company and the Guarantors may be discharged from their
obligations under the Indenture, the Securities and the Guarantees, except for
certain provisions thereof, and may be discharged from obligations to comply
with certain covenants contained in the Indenture, the Securities and the
Guarantees, in each case upon satisfaction of certain conditions specified in
the Indenture.

13.      Amendment; Supplement; Waiver.

                  Subject to certain exceptions, the Indenture and the
Securities (including the Guarantees) may be amended or supplemented with the
written consent of the Holders of at least a majority in aggregate principal
amount of the Securities then outstanding, and any existing Default or Event of
Default or compliance with any provision may be waived with the consent of the
Holders of a majority in aggregate principal amount of the Securities then
outstanding. Without notice to or consent of any Holder, the parties thereto may
amend or supplement the Indenture, the Securities and the Guarantees to, among
other things, cure any ambiguity, defect or inconsistency, provide for
uncertificated Securities in addition to or in place of certificated Securities
or comply with any requirements of the SEC in connection with the qualification
of the Indenture under the TIA, or make any other change that does not
materially adversely affect the rights of any Holder.

14.      Restrictive Covenants.

                  The Indenture contains certain covenants that, among other
things, limit the ability of the Company and the Restricted Subsidiaries to make
restricted payments, to incur indebtedness, to sell assets, to permit
restrictions on dividends and other payments by Subsidiaries to the Company, to
consolidate, merge or sell all or substantially all of its assets and to engage
in transactions with affiliates. The limitations are subject to a number of
important qualifications and exceptions. The Company must report annually to the
Trustee on compliance with such limitations.

                                       A-7

<PAGE>

15.      Defaults and Remedies.

                  If an Event of Default occurs and is continuing, the Trustee
or the Holders of at least 25% in aggregate principal amount of Securities then
outstanding may declare all the Securities to be due and payable immediately in
the manner and with the effect provided in the Indenture. Holders of Securities
may not enforce the Indenture, the Securities or the Guarantees except as
provided in the Indenture. The Trustee is not obligated to enforce the
Indenture, the Securities or the Guarantees unless it has received indemnity
satisfactory to it. The Indenture permits, subject to certain limitations
therein provided, Holders of a majority in aggregate principal amount of the
Securities then outstanding to direct the Trustee in its exercise of any trust
or power. The Trustee may withhold from Holders of Securities notice of certain
continuing Defaults or Events of Default if it determines that withholding
notice is in their interest.

16.      Trustee Dealings with Company and Guarantors.

                  The Trustee under the Indenture, in its individual or any
other capacity, may become the owner or pledgee of Securities and may otherwise
deal with the Company, the Guarantors, their respective Subsidiaries or their
respective Affiliates as if it were not the Trustee.

17.      No Recourse Against Others.

                  No director, officer, employee, incorporator or stockholder of
the Company or any Guarantor, as such, shall have any liability for any
obligations of the Company or any Guarantor under the Securities or the
Guarantees, as the case may be, or the Indenture or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each Holder by
accepting a Security waives and releases all such liability. The waiver and
release are part of the consideration for the issuance of the Securities and the
Guarantees.

18.      Authentication.

                  This Security shall not be valid until the Trustee or
authenticating agent signs the certificate of authentication on this Security.

19.      Abbreviations and Defined Terms.

                  Customary abbreviations may be used in the name of a Holder of
a Security or an assignee, such as: TEN COM (= tenants in common), TEN ENT (=
tenants by the entireties), JT TEN (= joint tenants with right of survivorship
and not as tenants in common), CUST (= Custodian) and U/G/M/A (= Uniform Gifts
to Minors Act).

20.      CUSIP Numbers.

                  Pursuant to a recommendation promulgated by the Committee on
Uniform Security Identification Procedures, the Company has caused CUSIP numbers
to be printed on the Securities as a convenience to the Holders of the
Securities. No representation is made as to the accuracy of such numbers as
printed on the Securities and reliance may be placed only on the other
identification numbers printed hereon.

21.      Registration Rights.

                  Pursuant to the Registration Rights Agreement, the Company and
the Guarantors will be obligated to consummate an exchange offer pursuant to
which the Holder of this Security shall have the right to

                                       A-8

<PAGE>

exchange this Security for a 6 1/2% Senior Subordinated Note due 2013 of the
Company which has been registered under the Securities Act, in like principal
amount and having terms identical in all material respects to the Initial
Securities. The Holders shall be entitled to receive certain liquidated damages
payments in the event such exchange offer is not consummated and upon certain
other conditions, all pursuant to and in accordance with the terms of the
Registration Rights Agreement.

22.      Governing Law.

                  The laws of the State of New York shall govern the Indenture,
this Security and any Guarantee hereof without regard to principles of conflicts
of laws to the extent that the application of the laws of another jurisdiction
would be required thereby.

                                       A-9

<PAGE>

                               [FORM OF GUARANTEE]

                          SENIOR SUBORDINATED GUARANTEE

                  Each undersigned Guarantor (as defined in the Indenture
referred to in the Security upon which this notation is endorsed) hereby
unconditionally guarantees on a senior subordinated basis (such guaranty by such
Guarantor being referred to herein as the "Guarantee"), jointly and severally,
the due and punctual payment of the principal of, premium, if any, and interest
on the Securities, whether at maturity, by acceleration or otherwise, the due
and punctual payment of interest on the overdue principal, premium and interest
on the Securities, and the due and punctual performance of all other obligations
of the Company to the Holders or the Trustee, all in accordance with the terms
set forth in Article Eleven of the Indenture.

                  The obligations of each undersigned Guarantor to the Holders
of Securities and to the Trustee pursuant to its Guarantee and the Indenture are
expressly set forth in, and are expressly subordinated and subject in right of
payment to the prior payment in full of all Guarantor Senior Indebtedness (as
defined in the Indenture) of such Guarantor to the extent and in the manner
provided in, Article Eleven and Article Twelve of the Indenture, and reference
is hereby made to such Indenture for the precise terms of such Guarantee therein
made.

                  This Guarantee shall not be valid or obligatory for any
purpose until the certificate of authentication on the Securities upon which
this Guarantee is noted shall have been executed by the Trustee under the
Indenture by the manual signature of one of its authorized officers.

                  This Guarantee shall be governed by and construed in
accordance with the laws of the State of New York without regard to principles
of conflicts of law.

                  This Guarantee is subject to release upon the terms set forth
in the Indenture.

                                      LIN TV CORP., as Guarantor

                                      By: ______________________________________
                                          Name:
                                          Title:

                                      A-10

<PAGE>

                                     AIRWAVES, INC.
                                     KXAN, INC.
                                     KXTX HOLDINGS, INC.
                                     LINBENCO, INC.
                                     LIN SPORTS, INC.
                                     LIN TELEVISION OF SAN JUAN, INC.
                                     LIN TELEVISION OF TEXAS, INC.
                                     PRIMELAND TELEVISION, INC.
                                     NORTH TEXAS BROADCASTING
                                        CORPORATION
                                     WNJX-TV, INC.
                                     WOOD TELEVISION, INC.
                                     WTNH BROADCASTING, INC.
                                     TVL BROADCASTING OF ABILENE, INC.
                                     TVL BROADCASTING, INC.
                                     WEYI TELEVISION, INC.
                                       as Guarantors

                                     By: _______________________________________
                                         Name:
                                         Title:

                                     TELEVICENTRO OF PUERTO RICO,
                                         LLC, as a Guarantor

                                     By: LIN Television of San Juan, Inc.,
                                            its Managing Member

                                     By: _______________________________________
                                         Name:
                                         Title:

                                      A-11

<PAGE>

                                     INDIANA BROADCASTING, LLC
                                     LIN AIRTIME, LLC
                                     PROVIDENCE BROADCASTING, LLC
                                     WAVY BROADCASTING, LLC
                                     WOOD LICENSE CO., LLC
                                     WIVB BROADCASTING, LLC
                                     WWLP BROADCASTING, LLC
                                         as Guarantors

                                     By: LIN Television Corporation,
                                         its Managing Member

                                     By: _______________________________________
                                         Name:
                                         Title:

                                     LIN TELEVISION OF TEXAS, L.P.
                                            as Guarantor

                                     By: LIN Television of Texas, Inc.,
                                         its General Partner

                                     By: _______________________________________
                                         Name:
                                         Title:

                                      A-12

<PAGE>

                                     ABILENE BROADCASTING, LLC
                                     TVL BROADCASTING OF RHODE
                                         ISLAND, LLC
                                     WDTN BROADCASTING, LLC
                                     WEYI BROADCASTING, LLC
                                     WUPW BROADCASTING, LLC
                                       as Guarantors

                                     By: TVL Broadcasting, Inc.,
                                         its Managing Member

                                     By: _______________________________________
                                         Name:
                                         Title:

                                      A-13

<PAGE>

                                 ASSIGNMENT FORM

I or we assign and transfer this Security to

_______________________________________________________________________________

_______________________________________________________________________________
(Print or type name, address and zip code of assignee or transferee)

_______________________________________________________________________________
(Insert Social Security or other identifying number of assignee or transferee)

and irrevocably appoint________________________________________________________
agent to transfer this Security on the books of the Company. The agent may
substitute another to act for him.

Dated:___________________          Signed: ______________________________
                                           (Signed exactly as name appears
                                           on the other side of this Security)

Signature Guarantee: ___________________________________________________________
                     Participant in a recognized Signature Guarantee Medallion
                     Program (or other signature guarantor program reasonably
                     acceptable to the Trustee)

<PAGE>

                       OPTION OF HOLDER TO ELECT PURCHASE

                  If you want to elect to have this Security purchased by the
Company pursuant to Section 4.08 or Section 4.15 of the Indenture, check the
appropriate box:

         Section 4.08 [      ]                 Section 4.15 [      ]

                  If you want to elect to have only part of this Security
purchased by the Company pursuant to Section 4.08 or Section 4.15 of the
Indenture, state the amount: $_____________

Dated:___________________     Your Signature:______________________________
                                             (Signed exactly as name appears
                                             on the other side of this Security)

Signature Guarantee:____________________________________________________________
                    Participant in a recognized Signature Guarantee Medallion
                    Program (or other signature guarantor program reasonably
                    acceptable to the Trustee)

<PAGE>

                                                                       EXHIBIT B

                           [FORM OF SERIES B SECURITY]

                           LIN TELEVISION CORPORATION

               6 1/2% Senior Subordinated Note due 2013, Series B

                                                                CUSIP No.:[   ]

No. [         ]                                                        $[     ]

                  LIN TELEVISION CORPORATION, a Delaware corporation (the
"Company," which term includes any successor corporation), for value received,
promises to pay to [           ] or registered assigns the principal sum of
[            ] Dollars, on May 15, 2013.

                  Interest Payment Dates:  May 15 and November 15, commencing on
[           ].

                  Interest Record Dates:  May 1 and November 1.

                  Reference is made to the further provisions of this Security
contained herein, which will for all purposes have the same effect as if set
forth at this place.

                  IN WITNESS WHEREOF, the Company has caused this Security to be
signed manually or by facsimile by its duly authorized officers.

                                      LIN TELEVISION CORPORATION

                                      By: _____________________________________
                                          Name:
                                          Title:

Dated:

                                       B-1

<PAGE>

                [FORM OF TRUSTEE'S CERTIFICATE OF AUTHENTICATION]

                  This is one of the 6 1/2% Senior Subordinated Notes due 2013,
Series B, described in the within-mentioned Indenture.

Dated:

                                      THE BANK OF NEW YORK, as Trustee

                                      By: ______________________________________
                                          Authorized Signatory

                                       B-2

<PAGE>

                              (REVERSE OF SECURITY)

                           LIN TELEVISION CORPORATION

               6 1/2% Senior Subordinated Note due 2013, Series B

1.       Interest.

                  LIN TELEVISION CORPORATION promises to pay interest on the
principal amount of this Security at the rate per annum shown above. Cash
interest on the Securities will accrue from the most recent date to which
interest has been paid or, if no interest has been paid, from [     ]. The
Company will pay interest semi-annually in arrears on each Interest Payment
Date, commencing on [     ]. Interest will be computed on the basis of a
360-day year of twelve 30-day months.

                  The Company shall pay interest on overdue principal from time
to time on demand and on overdue installments of interest (without regard to any
applicable grace periods) to the extent lawful from time to time on demand, in
each case at the rate borne by the Securities.

2.       Method of Payment.

                  The Company shall pay interest on the Securities (except
defaulted interest) to the persons who are the registered Holders at the close
of business on the Interest Record Date immediately preceding the Interest
Payment Date even if the Securities are canceled on registration of transfer or
registration of exchange after such Interest Record Date. Holders must surrender
Securities to a Paying Agent to collect principal payments. The Company shall
pay principal and interest in money of the United States that at the time of
payment is legal tender for payment of public and private debts ("U.S. Legal
Tender"). However, the Company may pay principal and interest by wire transfer
of Federal funds (provided that the Paying Agent shall have received wire
instructions on or prior to the relevant Interest Record Date), or interest by
check payable in such U.S. Legal Tender. The Company may deliver any such
interest payment to the Paying Agent or to a Holder at the Holder's registered
address.

3.       Paying Agent and Registrar.

                  Initially, The Bank of New York (the "Trustee") will act as
Paying Agent and Registrar. The Company may change any Paying Agent or Registrar
without notice to the Holders. The Company may, subject to certain exceptions,
act as Registrar.

4.       Indenture.

                  The Company issued the Securities under an Indenture, dated as
of May 12, 2003 (the "Indenture"), by and among the Company, the Guarantors
named therein and the Trustee. Capitalized terms herein are used as defined in
the Indenture unless otherwise defined herein. This Security is one of a duly
authorized issue of Securities of the Company designated as its 6 1/2% Senior
Subordinated Notes due 2013, Series B, which may be issued under the Indenture.
Subject to compliance with Section 4.04 of the Indenture, the Company shall be
entitled to issue Additional Securities pursuant to Section 2.17 of the
Indenture. The Securities include the Initial Securities (as defined in the
Indenture), the Private Exchange Securities (as defined

                                       B-3

<PAGE>

in the Indenture) and the Unrestricted Securities (as defined in the
Indenture). All Securities issued under the Indenture are treated as a single
class of securities under the Indenture. The terms of the Securities include
those stated in the Indenture and those made part of the Indenture by reference
to the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) (the
"TIA"), as in effect on the date of the Indenture (except as otherwise
indicated in the Indenture) until such time as the Indenture is qualified under
the TIA, and thereafter as in effect on the date on which the Indenture is
qualified under the TIA. Notwithstanding anything to the contrary herein, the
Securities are subject to all such terms, and Holders are referred to the
Indenture and the TIA for a statement of them. The Securities are general
unsecured obligations of the Company. The Securities are subordinated in right
of payment to all existing and future Senior Indebtedness of the Company to the
extent and in the manner provided in the Indenture. Each Holder, by accepting a
Security, agrees to such subordination, authorizes the Trustee to give effect
to such subordination and appoints the Trustee as attorney-in-fact for such
purpose.

5.       Optional Redemption.

                  (a) The Securities will be redeemable at the option of the
Company, in whole or in part, at any time on or after May 15, 2008, at the
redemption prices (expressed as a percentage of principal amount) set forth
below, plus accrued and unpaid interest thereon, if any, to the Redemption Date
(subject to the right of Holders of record on the relevant Interest Record Date
to receive interest due on the relevant Interest Payment Date) if redeemed
during the 12-month period commencing on May 15 of the years indicated below:

<TABLE>
<CAPTION>
Year                                                  Percentage
----                                                  ----------
<S>                                                   <C>
2008                                                   103.250%
2009                                                   102.167%
20010                                                  101.083%
2011 and thereafter                                    100.000%
</TABLE>

                  (b) Prior to May 15, 2006, the Company may, at its option, use
the net cash proceeds of one or more Equity Offerings to redeem up to 35% of the
principal amount of the Securities at a redemption price equal to 106.50% of the
principal amount thereof plus accrued and unpaid interest to the redemption
date; provided, however, that after any such redemption, at least 65% of the
aggregate principal amount of the Securities originally issued would remain
outstanding immediately after giving effect to such redemption. Any such
redemption will be required to occur on or prior to the date that is one year
after the receipt by the Company of the proceeds of an Equity Offering. The
Company shall effect such redemption on a pro rata basis.

                  (c) Prior to May 15, 2008, upon the occurrence of a Change of
Control, the Company will have the option to redeem the Securities in whole but
not in part (a "Change of Control Redemption") at a redemption price equal to
100% of the principal amount thereof, plus accrued and unpaid interest to the
redemption date, plus the Applicable Premium. In order to effect a Change of
Control Redemption, the Company must send a notice to each Holder, which notice
shall govern the terms of the Change of Control Redemption. Such notice must
comply with the provisions of Section 3.03 of the Indenture; provided, however,
that such notice must be mailed to Holders within 30 days following the date the
Change of Control occurred (the "Change of Control Redemption Date") and state
that the Company is effecting a Change of Control Redemption in lieu of a Change
of Control Offer.

                  "Applicable Premium" means, with respect to a Security at any
Change of Control Redemption Date, the greater of (i) 1.0% of the principal
amount of such Security and (ii) the excess of (A) the present value at such
time of (1) the redemption price of such Security at May 15, 2008 (such
redemption price being described in paragraph (a) above) plus (2) all
semi-annual payments of interest through May 15, 2008 computed using a discount
rate equal to the Treasury Rate plus 75 basis points over (B) the principal
amount of such Security.

                                       B-4

<PAGE>

                  "Treasury Rate" means the yield to maturity at the time of
computation of United States Treasury Securities with a constant maturity (as
compiled and published in the most recent Federal Reserve Statistical Release
H.15(519) that has become publicly available at least two business days prior to
the Change of Control Redemption Date (or, if such Statistical Release is no
longer published, any publicly available source of similar market data)) most
nearly equal to the period from the Change of Control Redemption Date to May 15,
2008; provided, however, that if the period from the Change of Control
Redemption Date to May 15, 2008 is not equal to the constant maturity of a
United States Treasury security for which a weekly average yield is given, the
Treasury Rate shall be obtained by linear interpolation (calculated to the
nearest one-twelfth of a year) from the weekly average yields of United States
Treasury Securities for which such yields are given except that if the period
from the Change of Control Redemption Date to May 15, 2008 is less than one
year, the weekly average yield on actually traded United States Treasury
Securities adjusted to a constant maturity of one year shall be used.

6.       Notice of Redemption.

                  Notice of redemption will be mailed by first-class mail at
least 30 days but not more than 60 days before the Redemption Date to each
Holder of Securities to be redeemed at its registered address. The Trustee may
select for redemption portions of the principal amount of Securities that have
denominations equal to or larger than $1,000 principal amount. Securities and
portions of them the Trustee so selects shall be in amounts of $1,000 principal
amount or integral multiples thereof.

                  If any Security is to be redeemed in part only, the notice of
redemption that relates to such Security shall state the portion of the
principal amount thereof to be redeemed. A new Security in a principal amount
equal to the unredeemed portion thereof will be issued in the name of the Holder
thereof upon cancellation of the original Security. On and after the Redemption
Date, interest will cease to accrue on Securities or portions thereof called for
redemption so long as the Company has deposited with the Paying Agent for the
Securities funds in satisfaction of the redemption price pursuant to the
Indenture and the Paying Agent is not prohibited from paying such funds to the
Holders pursuant to the terms of the Indenture.

7.       Change of Control Offer.

                  Following the occurrence of a Change of Control (the date of
such occurrence being the "Change of Control Date"), the Company shall, within
30 days after the Change of Control Date, offer to purchase all Securities then
outstanding at a purchase price in cash equal to 101% of the aggregate principal
amount thereof, plus accrued and unpaid interest thereon, if any, to the date of
such purchase (subject to the right of Holders of record on the relevant
Interest Record Date to receive interest due on the relevant Interest Payment
Date).

8.       Limitation on Disposition of Assets.

                  The Company is, subject to certain conditions and certain
exceptions, obligated to offer to purchase the Securities at a purchase price
equal to 100% of the principal amount thereof, plus accrued and unpaid interest
thereon, if any, to the date of such purchase (subject to the right of Holders
of record on the relevant Interest Record Date to receive interest due on the
relevant Interest Payment Date) with the proceeds of certain asset dispositions.

                                       B-5

<PAGE>

9.       Denominations; Transfer; Exchange.

                  The Securities are in registered form, without coupons, in
denominations of $1,000 and integral multiples of $1,000. A Holder shall
register the transfer of or exchange Securities in accordance with the
Indenture. The Registrar may require a Holder, among other things, to furnish
appropriate endorsements and transfer documents and to pay certain transfer
taxes or similar governmental charges payable in connection therewith as
permitted by the Indenture. The Registrar need not register the transfer of or
exchange any Securities or portions thereof selected for redemption, except the
unredeemed portion of any security being redeemed in part.

10.      Persons Deemed Owners.

                  The registered Holder of a Security shall be treated as the
owner of it for all purposes.

11.      Unclaimed Funds.

                  If funds for the payment of principal or interest remain
unclaimed for two years, the Trustee and the Paying Agent will repay the funds
to the Company at their written request. After that, all liability of the
Trustee and such Paying Agent with respect to such funds shall cease.

12.      Legal Defeasance and Covenant Defeasance.

                  The Company and the Guarantors may be discharged from their
obligations under the Indenture, the Securities and the Guarantees, except for
certain provisions thereof, and may be discharged from obligations to comply
with certain covenants contained in the Indenture, the Securities and the
Guarantees, in each case upon satisfaction of certain conditions specified in
the Indenture.

13.      Amendment; Supplement; Waiver.

                  Subject to certain exceptions, the Indenture and the
Securities (including the Guarantees) may be amended or supplemented with the
written consent of the Holders of at least a majority in aggregate principal
amount of the Securities then outstanding, and any existing Default or Event of
Default or compliance with any provision may be waived with the consent of the
Holders of a majority in aggregate principal amount of the Securities then
outstanding. Without notice to or consent of any Holder, the parties thereto may
amend or supplement the Indenture, the Securities and the Guarantees to, among
other things, cure any ambiguity, defect or inconsistency, provide for
uncertificated Securities in addition to or in place of certificated Securities
or comply with any requirements of the SEC in connection with the qualification
of the Indenture under the TIA, or make any other change that does not
materially adversely affect the rights of any Holder.

14.      Restrictive Covenants.

                  The Indenture contains certain covenants that, among other
things, limit the ability of the Company and the Restricted Subsidiaries to make
restricted payments, to incur indebtedness, to sell assets, to permit
restrictions on dividends and other payments by Subsidiaries to the Company, to
consolidate, merge or sell all or substantially all of its assets and to engage
in transactions with affiliates. The limitations are subject to a number of
important qualifications and exceptions. The Company must report annually to the
Trustee on compliance with such limitations.

                                       B-6

<PAGE>

15.      Defaults and Remedies.

                  If an Event of Default occurs and is continuing, the Trustee
or the Holders of at least 25% in aggregate principal amount of Securities then
outstanding may declare all the Securities to be due and payable immediately in
the manner and with the effect provided in the Indenture. Holders of Securities
may not enforce the Indenture, the Securities or the Guarantees except as
provided in the Indenture. The Trustee is not obligated to enforce the
Indenture, the Securities or the Guarantees unless it has received indemnity
satisfactory to it. The Indenture permits, subject to certain limitations
therein provided, Holders of a majority in aggregate principal amount of the
Securities then outstanding to direct the Trustee in its exercise of any trust
or power. The Trustee may withhold from Holders of Securities notice of certain
continuing Defaults or Events of Default if it determines that withholding
notice is in their interest.

16.      Trustee Dealings with Company and Guarantors.

                  The Trustee under the Indenture, in its individual or any
other capacity, may become the owner or pledgee of Securities and may otherwise
deal with the Company, the Guarantors, their respective Subsidiaries or their
respective Affiliates as if it were not the Trustee.

17.      No Recourse Against Others.

                  No director, officer, employee, incorporator or stockholder of
the Company or any Guarantor, as such, shall have any liability for any
obligations of the Company or any Guarantor under the Securities or the
Guarantees, as the case may be, or the Indenture or for any claim based on, in
respect of, or by reason of, such obligations or their creation. Each Holder by
accepting a Security waives and releases all such liability. The waiver and
release are part of the consideration for the issuance of the Securities and the
Guarantees.

18.      Authentication.

                  This Security shall not be valid until the Trustee or
authenticating agent signs the certificate of authentication on this Security.

19.      Abbreviations and Defined Terms.

                  Customary abbreviations may be used in the name of a Holder of
a Security or an assignee, such as: TEN COM (= tenants in common), TEN ENT (=
tenants by the entireties), JT TEN (= joint tenants with right of survivorship
and not as tenants in common), CUST (= Custodian) and U/G/M/A (= Uniform Gifts
to Minors Act).

20.      CUSIP Numbers.

                  Pursuant to a recommendation promulgated by the Committee on
Uniform Security Identification Procedures, the Company has caused CUSIP numbers
to be printed on the Securities as a convenience to the Holders of the
Securities. No representation is made as to the accuracy of such numbers as
printed on the Securities and reliance may be placed only on the other
identification numbers printed hereon.

                                       B-7

<PAGE>

21.      Governing Law.

                  The laws of the State of New York shall govern the Indenture,
this Security and any Guarantee hereof without regard to principles of conflicts
of laws to the extent that the application of the laws of another jurisdiction
would be required thereby.

                                       B-8

<PAGE>

                               [FORM OF GUARANTEE]

                          SENIOR SUBORDINATED GUARANTEE

                  Each undersigned Guarantor (as defined in the Indenture
referred to in the Security upon which this notation is endorsed) hereby
unconditionally guarantees on a senior subordinated basis (such guaranty by such
Guarantor being referred to herein as the "Guarantee"), jointly and severally,
the due and punctual payment of the principal of, premium, if any, and interest
on the Securities, whether at maturity, by acceleration or otherwise, the due
and punctual payment of interest on the overdue principal, premium and interest
on the Securities, and the due and punctual performance of all other obligations
of the Company to the Holders or the Trustee, all in accordance with the terms
set forth in Article Eleven of the Indenture.

                  The obligations of each undersigned Guarantor to the Holders
of Securities and to the Trustee pursuant to its Guarantee and the Indenture are
expressly set forth in, and are expressly subordinated and subject in right of
payment to the prior payment in full of all Guarantor Senior Indebtedness (as
defined in the Indenture) of such Guarantor to the extent and in the manner
provided, in Article Eleven and Article Twelve of the Indenture, and reference
is hereby made to such Indenture for the precise terms of such Guarantee therein
made.

                  This Guarantee shall not be valid or obligatory for any
purpose until the certificate of authentication on the Securities upon which
this Guarantee is noted shall have been executed by the Trustee under the
Indenture by the manual signature of one of its authorized officers.

                  This Guarantee shall be governed by and construed in
accordance with the laws of the State of New York without regard to principles
of conflicts of law.

                  This Guarantee is subject to release upon the terms set forth
in the Indenture.

                                      LIN TV CORP., as Guarantor

                                      By: ______________________________________
                                          Name:
                                          Title:

                                       B-9

<PAGE>

                                      AIRWAVES, INC.
                                      KXAN, INC.
                                      KXTX HOLDINGS, INC.
                                      LINBENCO, INC.
                                      LIN SPORTS, INC.
                                      LIN TELEVISION OF SAN JUAN, INC.
                                      LIN TELEVISION OF TEXAS, INC.
                                      PRIMELAND TELEVISION, INC.
                                      NORTH TEXAS BROADCASTING
                                         CORPORATION
                                      WNJX-TV, INC.
                                      WOOD TELEVISION, INC.
                                      WTNH BROADCASTING, INC.
                                      TVL BROADCASTING OF ABILENE, INC.
                                      TVL BROADCASTING, INC.
                                      WEYI TELEVISION, INC.
                                        as Guarantors

                                      By: ______________________________________
                                          Name:
                                          Title:

                                      TELEVICENTRO OF PUERTO RICO,
                                          LLC, as a Guarantor

                                      By: LIN Television of San Juan, Inc.,
                                            its Managing Member

                                      By: ______________________________________
                                          Name:
                                          Title:

                                      B-10

<PAGE>

                                      INDIANA BROADCASTING, LLC
                                      LIN AIRTIME, LLC
                                      PROVIDENCE BROADCASTING, LLC
                                      WAVY BROADCASTING, LLC
                                      WOOD LICENSE CO., LLC
                                      WIVB BROADCASTING, LLC
                                      WWLP BROADCASTING, LLC
                                         as Guarantors

                                      By: LIN Television Corporation,
                                          its Managing Member

                                      By: ______________________________________
                                          Name:
                                          Title:

                                      LIN TELEVISION OF TEXAS, L.P.
                                             as Guarantor

                                      By: LIN Television of Texas, Inc.,
                                          its General Partner

                                      By: ______________________________________
                                          Name:
                                          Title:

                                      B-11

<PAGE>

                                      ABILENE BROADCASTING, LLC
                                      TVL BROADCASTING OF RHODE
                                       ISLAND, LLC
                                      WDTN BROADCASTING, LLC
                                      WEYI BROADCASTING, LLC
                                      WUPW BROADCASTING, LLC
                                        as Guarantors

                                      By: TVL Broadcasting, Inc.,
                                          its Managing Member

                                      By: ______________________________________
                                          Name:
                                          Title:

                                      B-12

<PAGE>

                                 ASSIGNMENT FORM

I or we assign and transfer this Security to

_______________________________________________________________________________

_______________________________________________________________________________
(Print or type name, address and zip code of assignee or transferee)

_______________________________________________________________________________
(Insert Social Security or other identifying number of assignee or transferee)

and irrevocably appoint_________________________________________________________
agent to transfer this Security on the books of the Company. The agent may
substitute another to act for him.

Dated:___________________          Signed:______________________________________
                                          (Signed exactly as name appears
                                          on the other side of this Security)

Signature Guarantee:    ________________________________________________________
                        Participant in a recognized Signature Guarantee
                        Medallion Program (or other signature guarantor program
                        reasonably acceptable to the Trustee)

<PAGE>

                       OPTION OF HOLDER TO ELECT PURCHASE

                  If you want to elect to have this Security purchased by the
Company pursuant to Section 4.08 or Section 4.15 of the Indenture, check the
appropriate box:

            Section 4.08 [ ]                 Section 4.15 [ ]

                  If you want to elect to have only part of this Security
purchased by the Company pursuant to Section 4.08 or Section 4.15 of the
Indenture, state the amount: $_____________

Dated:___________________     Your Signature:___________________________________
                                             (Signed exactly as name appears
                                             on the other side of this Security)

Signature Guarantee:    ________________________________________________________
                        Participant in a recognized Signature Guarantee
                        Medallion Program (or other signature guarantor program
                        reasonably acceptable to the Trustee)

<PAGE>

                                                                       EXHIBIT C

                      FORM OF LEGEND FOR GLOBAL SECURITIES

                  Any Global Security authenticated and delivered hereunder
shall bear a legend (which would be in addition to any other legends required in
the case of a Restricted Security) in substantially the following form:

                  THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE
INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITORY
OR A NOMINEE OF A DEPOSITORY OR A SUCCESSOR DEPOSITORY. THIS SECURITY IS NOT
EXCHANGEABLE FOR SECURITIES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE
DEPOSITORY OR ITS NOMINEE EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE, AND NO TRANSFER OF THIS SECURITY (OTHER THAN A TRANSFER OF THIS
SECURITY AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A
NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE
DEPOSITORY) MAY BE REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN
THE INDENTURE.

                  UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"),
TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR
IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED
OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

                  TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR
THEREOF OR SUCH SUCCESSOR'S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL
SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS
SET FORTH IN SECTION 2.16 OF THE INDENTURE.

                                       C-1

<PAGE>

                                                                       EXHIBIT D

                    CERTIFICATE TO BE DELIVERED UPON EXCHANGE
                    OR REGISTRATION OF TRANSFER OF SECURITIES

         Re:      6 1/2% Senior Subordinated Notes due 2013
                  (the "Securities") of LIN Television Corporation

                  This Certificate relates to $_______ principal amount of
Securities held in the form of* ___ a beneficial interest in a Global Security
or* _______ Physical Securities by ______ (the "Transferor").

The Transferor:*

         [ ]      has requested by written order that the Registrar deliver in
exchange for its beneficial interest in the Global Security held by the
Depositary a Physical Security or Physical Securities in definitive, registered
form of authorized denominations and an aggregate number equal to its beneficial
interest in such Global Security (or the portion thereof indicated above); or

         [ ]      has requested that the Registrar by written order exchange or
register the transfer of a Physical Security or Physical Securities.

                  In connection with such request and in respect of each such
Security, the Transferor does hereby certify that the Transferor is familiar
with the Indenture relating to the above captioned Securities and the
restrictions on transfers thereof as provided in Section 2.16 of such Indenture,
and that the transfer of the Securities does not require registration under the
Securities Act of 1933, as amended (the "Act"), because*:

         [ ]      Such Security is being acquired for the Transferor's own
account, without transfer (in satisfaction of Section 2.16 of the Indenture).

         [ ]      Such Security is being transferred to a "qualified
institutional buyer" (as defined in Rule 144A under the Act), in reliance on
Rule 144A.

         [ ]      Such Security is being transferred to an institutional
"accredited investor" (within the meaning of subparagraph (a)(1), (2), (3) or
(7) of Rule 501 under the Act) which delivers a certificate to the Trustee in
the form of Exhibit E to the Indenture.

         [ ]      Such Security is being transferred in reliance on Rule 144
under the Act.

         [ ]      Such Security is being transferred in reliance on and in
compliance with an exemption from the registration requirements of the Act other
than Rule 144A or Rule 144 under the Act to a person other than an institutional
"accredited investor." [An Opinion of Counsel to the effect that such transfer
does not require registration under the Securities Act accompanies this
certification.]

                           ________________________________________________
                           [INSERT NAME OF TRANSFEROR]

                           By: _____________________________________________
                               [Authorized Signatory]

Date:    ______________________
         *Check applicable box.

                                       D-1

<PAGE>

                                                                       EXHIBIT E

                   Form of Transferee Letter of Representation

LIN TELEVISION CORPORATION
One Richmond Square, Suite 230E
Providence, Rhode Island 02906

Ladies and Gentlemen:

                  This certificate is delivered to request a transfer of
$________ principal amount of the 6 1/2% Senior Subordinated Notes due 2013 (the
"Notes") of LIN TELEVISION CORPORATION (the "Company"). Upon transfer, the Notes
would be registered in the name of the new beneficial owner as follows:

                  Name:____________________________________________________
                  Address:_________________________________________________
                  Taxpayer ID Number:______________________________________

                  The undersigned represents and warrants to you that:

                  1.       We are an institutional "accredited investor" (as
defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933 (the
"Securities Act")) purchasing for our own account or for the account of such an
institutional "accredited investor" at least $250,000 principal amount of the
Notes, and we are acquiring the Notes not with a view to, or for offer or sale
in connection with, any distribution in violation of the Securities Act. We have
such knowledge and experience in financial and business matters as to be capable
of evaluating the merits and risk of our investment in the Notes and we invest
in or purchase securities similar to the Notes in the normal course of our
business. We and any accounts for which we are acting are each able to bear the
economic risk of our or its investment.

                  2.       We understand that the Notes have not been registered
under the Securities Act and, unless so registered, may not be sold except as
permitted in the following sentence. We agree on our own behalf and on behalf of
any investor account for which we are purchasing Notes to offer, sell or
otherwise transfer such Notes prior to the date which is two years after the
later of the date of original issue and the last date on which the Company or
any affiliate of the Company was the owner of such Notes (or any predecessor
thereto) (the "Resale Restriction Termination Date") only (a) to the Company,
(b) pursuant to a registration statement which has been declared effective under
the Securities Act, (c) in a transaction complying with the requirements of Rule
144A under the Securities Act, to a person we reasonably believe is a qualified
institutional buyer under Rule 144A (a "QIB") that purchases for its own account
or for the account of a QIB and to whom notice is given that the transfer is
being made in reliance on Rule 144A, (d) to an institutional "accredited
investor" within the meaning of Rule 501(a)(1), (2), (3) or (7) under the
Securities Act that is purchasing for its own account or for the account of such
an institutional "accredited investor," in each case in a minimum principal
amount of Notes of $250,000, (e) pursuant to offers and sales that occur outside
the United States within the meaning of Regulation S under the Securities Act or
(f) pursuant to any other available exemption from the registration requirements
of the Securities Act, subject in each of the foregoing cases to any requirement
of law that the disposition of our property or the property of such investor
account or accounts be at all times within our or their control and in

                                       E-1

<PAGE>

compliance with any applicable state securities laws. The foregoing restrictions
on resale will not apply subsequent to the Resale Restriction Termination Date.
If any resale or other transfer of the Notes is proposed to be made pursuant to
clause (d) above prior to the Resale Restriction Termination Date, the
transferor shall deliver a letter from the transferee substantially in the form
of this letter to the Company and the Trustee, which shall provide, among other
things, that the transferee is an institutional "accredited investor" within the
meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it
is acquiring such Notes for investment purposes and not for distribution in
violation of the Securities Act. Each purchaser acknowledges that the Company
and the Trustee reserve the right prior to any offer, sale or other transfer
prior to the Resale Restriction Termination Date of the Notes pursuant to clause
(d), (e) or (f) above to require the delivery of an opinion of counsel,
certificates and/or other information satisfactory to the Company and the
Trustee.

Dated:  ______________________            TRANSFEREE: __________________________

                                          By: __________________________________

                                       E-2

<PAGE>

                                                                       EXHIBIT F

                            Form of Certificate To Be
                             Delivered in Connection
                           with Regulation S Transfers

                                                           _______________,_____

The Bank of New York
114 West 47th Street
New York, New York  10036

Attention:  Corporate Trust Department

Re:      LIN TELEVISION CORPORATION (the "Company")
         6 1/2% Senior Subordinated Notes due 2013, Series A and
         6 1/2% Senior Subordinated Notes due 2013, Series B (collectively, the
         "Securities")

Ladies and Gentlemen:

                  In connection with our proposed sale of $____________
aggregate principal amount of the Securities, we confirm that such sale has been
effected pursuant to and in accordance with Regulation S under the Securities
Act of 1933, as amended (the "Securities Act"), and, accordingly, we represent
that:

                  (1)      the offer of the Securities was not made to a person
         in the United States;

                  (2)      either (a) at the time the buy offer was originated,
         the transferee was outside the United States or we and any person
         acting on our behalf reasonably believed that the transferee was
         outside the United States, or (b) the transaction was executed in, on
         or through the facilities of a designated off-shore securities market
         and neither we nor any person acting on our behalf knows that the
         transaction has been prearranged with a buyer in the United States;

                  (3)      no directed selling efforts have been made in the
         United States in contravention of the requirements of Rule 903(b) or
         Rule 904(b) of Regulation S, as applicable;

                  (4)      the transaction is not part of a plan or scheme to
         evade the registration requirements of the Securities Act; and

                  (5)      we have advised the transferee of the transfer
         restrictions applicable to the Securities.

                                       F-1

<PAGE>

                  You and the Company are entitled to rely upon this letter and
are irrevocably authorized to produce this letter or a copy hereof to any
interested party in any administrative or legal proceedings or official inquiry
with respect to the matters covered hereby. Defined terms used herein without
definition have the respective meanings provided in Regulation S.

                                                  Very truly yours,

                                                  [Name of Transferor]

                                                  By:    _______________________
                                                         [Authorized Signatory]

                                       F-2<PAGE>

                                                                     Exhibit 4.2

================================================================================

                                    INDENTURE

                            Dated as of May 12, 2003

                                      among

                      LIN TELEVISION CORPORATION, as Issuer

                                       and

                           The Guarantors Named Herein

                                       and

                        THE BANK OF NEW YORK, as Trustee

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

                               2.50% Exchangeable
                     Senior Subordinated Debentures due 2033

================================================================================

<PAGE>

                           LIN TELEVISION CORPORATION
                              CROSS REFERENCE SHEET

THIS CROSS REFERENCE SHEET SHOWS THE LOCATION IN THE INDENTURE OF THE PROVISIONS
INSERTED PURSUANT TO SECTION 310-318(a), INCLUSIVE, OF THE TIA.

<TABLE>
<CAPTION>
 TRUST INDENTURE                                                                            INDENTURE
   ACT SECTION                                                                               SECTION
----------------                                                                            ---------
<S>                                                                                         <C>
Section 310(a)(1).........................................................................   8.10
           (a)(2).........................................................................   8.10
           (a)(3).........................................................................   N.A.
           (a)(4).........................................................................   N.A.
           (a)(5).........................................................................   8.08, 8.10
           (b)............................................................................   8.08; 8.10; 19.02
           (c)............................................................................   N.A.
Section 311(a)............................................................................   8.11
           (b)............................................................................   8.11
           (c)............................................................................   N.A.
Section 312(a)............................................................................   2.05
           (b)............................................................................   19.03
           (c)............................................................................   19.03
Section 313(a)............................................................................   8.06
           (b)(1).........................................................................   N.A.
           (b)(2).........................................................................   8.06
           (c)............................................................................   8.06; 19.02
           (d)............................................................................   8.06
Section 314(a)............................................................................   19.02
           (b)............................................................................   N.A.
           (c)(1).........................................................................   19.04
           (c)(2).........................................................................   19.04
           (c)(3).........................................................................   N.A.
           (d)............................................................................   N.A.
           (e)............................................................................   19.05
           (f)............................................................................   N.A.
Section 315(a)............................................................................   8.01(b)
           (b)............................................................................   8.05; 19.02
           (c)............................................................................   8.01(a)
           (d)............................................................................   8.01(c)
           (e)............................................................................   4.11
Section 316(a)(last sentence).............................................................   2.09
           (a)(1)(A)......................................................................   4.05
           (a)(1)(B)......................................................................   4.04
           (a)(2).........................................................................   N.A.
           (b)............................................................................   4.07
           (c)............................................................................   11.04
Section 317(a)(1).........................................................................   4.08
           (a)(2).........................................................................   4.09
           (b)............................................................................   2.04
Section 318(a)............................................................................   19.01
</TABLE>

----------------------
N.A. means Not Applicable.

NOTE:  This Cross-Reference Table shall not, for any purpose, be deemed to be a
       part of the Indenture.

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<S>                                                                                              <C>
                                    ARTICLE 1
                DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

Section 1.01.  Certain Terms Defined..........................................................    1
Section 1.02.  Forms of Documents Delivered to Trustee........................................   16
Section 1.03.  Acts of Holders................................................................   17
Section 1.04.  Effect of Headings and Table of Contents.......................................   18
Section 1.05.  Benefits of Indenture..........................................................   18

                                    ARTICLE 2
                                 THE SECURITIES

Section 2.01.  Form and Dating................................................................   18
Section 2.02.  Execution and Authentication...................................................   19
Section 2.03.  Registrar, Paying Agent, Exchange Agent........................................   20
Section 2.04.  Paying Agent to Hold Assets in Trust...........................................   20
Section 2.05.  Holder Lists...................................................................   21
Section 2.06.  Transfer and Exchange..........................................................   21
Section 2.07.  Replacement Securities.........................................................   23
Section 2.08.  Outstanding Securities; Determinations of Holders' Actions.....................   23
Section 2.09.  Temporary Securities...........................................................   24
Section 2.10.  Cancellation...................................................................   25
Section 2.11.  Persons Deemed Owners..........................................................   25
Section 2.12.  Global Securities..............................................................   25
Section 2.13.  Legends........................................................................   27
Section 2.14.  Payment of Interest; Interest Rights Preserved.................................   28
Section 2.15.  CUSIP Numbers..................................................................   30
Section 2.16.  Calculation of Tax Original Issue Discount.....................................   30

                                    ARTICLE 3
                           SATISFACTION AND DISCHARGE

Section 3.01.  Discharge of Liability on Securities...........................................   31
Section 3.02.  Repayment of Moneys Held by Trustee............................................   31

                                    ARTICLE 4
                              DEFAULT AND REMEDIES

Section 4.01.  Events of Default..............................................................   32
Section 4.02.  Acceleration...................................................................   33
Section 4.03.  Other Remedies.................................................................   34
</TABLE>

                                        i

<PAGE>

<TABLE>
<S>                                                                                              <C>
Section 4.04.  Waiver of Past Default.........................................................   34
Section 4.05.  Control by Majority............................................................   35
Section 4.06.  Limitation on Suits............................................................   35
Section 4.07.  Rights of Holders to Receive Payment...........................................   36
Section 4.08.  Collection Suit by Trustee.....................................................   36
Section 4.09.  Trustee May File Proofs of Claim...............................................   36
Section 4.10.  Priorities.....................................................................   37
Section 4.11.  Undertaking for Costs..........................................................   37

                                    ARTICLE 5
                                  SUBORDINATION

Section 5.01.  Agreement to Subordinate.......................................................   38
Section 5.02.  Liquidation, Dissolution, Bankruptcy...........................................   38
Section 5.03.  Default on Senior Indebtedness.................................................   38
Section 5.04.  Acceleration of Payment of Securities..........................................   40
Section 5.05.  When Distribution Must be Paid Over............................................   40
Section 5.06.  Subrogation....................................................................   40
Section 5.07.  Relative Rights................................................................   40
Section 5.08.  Subordination May Not be Impaired by Issuer....................................   41
Section 5.09.  Rights of Trustee and Paying Agent.............................................   41
Section 5.10.  Distribution or Notice to Representative.......................................   41
Section 5.11.  Article Five Not to Prevent Events of Default or Limit Right to Accelerate.....   41
Section 5.12.  Trustee Entitled to Rely.......................................................   41
Section 5.13.  Trustee to Effectuate Subordination............................................   42
Section 5.14.  Trustee Not Fiduciary for Holders of Senior Indebtedness.......................   42
Section 5.15.  Reliance by Holders of Senior Indebtedness on Subordination Provisions.........   42

                                    ARTICLE 6
                              AFFILIATE GUARANTEES

Section 6.01.  Unconditional Guarantee........................................................   43
Section 6.02.  Severability...................................................................   44
Section 6.03.  Release of a Guarantor.........................................................   44
Section 6.04.  Limitation of Guarantor's Liability............................................   44
Section 6.05.  Contribution...................................................................   45
Section 6.06.  Execution of Affiliate Guarantee...............................................   45
Section 6.07.  Subordination of Subrogation and Other Rights..................................   45

                                    ARTICLE 7
                      SUBORDINATION OF AFFILIATE GUARANTEES

Section 7.01.  Agreement to Subordinate.......................................................   46
</TABLE>

                                       ii

<PAGE>

<TABLE>
<S>                                                                                              <C>
Section 7.02.  Liquidation, Dissolution, Bankruptcy...........................................   46
Section 7.03.  Default on Guarantor Senior Indebtedness.......................................   46
Section 7.04.  Acceleration of Payment of Securities..........................................   48
Section 7.05.  When Distribution Must Be Paid Over............................................   48
Section 7.06.  Subrogation....................................................................   48
Section 7.07.  Relative Rights................................................................   48
Section 7.08.  Subordination May Not Be Impaired by Guarantor.................................   48
Section 7.09.  Rights of Trustee and Paying Agent.............................................   49
Section 7.10.  Distribution or Notice to Representative.......................................   49
Section 7.11.  Article Seven Not To Prevent Events of Default or Limit Right To Accelerate....   49
Section 7.12.  Trustee Entitled to Rely.......................................................   49
Section 7.13.  Trustee To Effectuate Subordination............................................   50
Section 7.14.  Trustee Not Fiduciary for Holders of Guarantor Senior Indebtedness.............   50
Section 7.15.  Reliance by Holders of Guarantor Senior Indebtedness on Subordination
               Provisions ....................................................................   50

                                    ARTICLE 8
                                   THE TRUSTEE

Section 8.01.  Duties of Trustee..............................................................   51
Section 8.02.  Rights of Trustee..............................................................   52
Section 8.03.  Individual Rights of Trustee...................................................   53
Section 8.04.  Trustee's Disclaimer...........................................................   53
Section 8.05.  Notice of Defaults.............................................................   53
Section 8.06.  Reports by Trustee to Holders..................................................   54
Section 8.07.  Compensation and Indemnity.....................................................   54
Section 8.08.  Replacement of Trustee.........................................................   55
Section 8.09.  Successor Trustee by Merger, Etc...............................................   57
Section 8.10.  Eligibility; Disqualification..................................................   57
Section 8.11.  Preferential Collection of Claims Against the Issuer...........................   57

                                    ARTICLE 9
                HOLDERS' LISTS AND REPORTS BY TRUSTEE AND ISSUER

Section 9.01.  Issuer to Furnish Trustee Information as to Names and Addresses of Holders.....   57
Section 9.02.  Preservation of Information; Communications to Holders.........................   58
Section 9.03.  Reports by Trustee.............................................................   58
Section 9.04.  Reports by Issuer..............................................................   58
</TABLE>

                                       iii

<PAGE>

<TABLE>
<S>                                                                                              <C>
                                   ARTICLE 10
                    CONSOLIDATION, MERGER, SALE OR CONVEYANCE

Section 10.01.  Consolidations and Mergers of Issuer Permitted Subject to Certain Conditions..   58
Section 10.02.  Rights and Duties of Successor Entity.........................................   59

                                   ARTICLE 11
                       AMENDMENTS, SUPPLEMENTS AND WAIVERS

Section 11.01.  Without Consent of Holders....................................................   60
Section 11.02.  With Consent of Holders.......................................................   60
Section 11.03.  Compliance with Trust Indenture Act...........................................   62
Section 11.04.  Record Date for Consents and Effect of Consents...............................   62
Section 11.05.  Notation on or Exchange of Securities.........................................   62
Section 11.06.  Trustee to Sign Amendments, Etc...............................................   62

                                   ARTICLE 12
                             COVENANTS OF THE ISSUER

Section 12.01.  Payment of Principal, Premium and Interest....................................   63
Section 12.02.  Maintenance of Office or Agency...............................................   63
Section 12.03.  Money for Securities Payments to be Held in Trust.............................   64
Section 12.04.  Compliance Certificate........................................................   65
Section 12.05.  Calculation of Original Issue Discount........................................   65
Section 12.06.  Further Instruments and Acts..................................................   65
Section 12.07.  Affiliate Guarantees By Restricted Subsidiaries...............................   65

                                   ARTICLE 13
                            REDEMPTION OF SECURITIES

Section 13.01.  Right to Redeem; Notices to Trustee...........................................   66
Section 13.02.  Selection of Securities to Be Redeemed........................................   66
Section 13.03.  Notice of Redemption..........................................................   67
Section 13.04.  Effect of Notice of Redemption................................................   68
Section 13.05.  Deposit of Redemption Price...................................................   68
Section 13.06.  Securities Redeemed in Part...................................................   68
Section 13.07.  Exchange Arrangement on Call for Redemption...................................   68

                                   ARTICLE 14
                                    EXCHANGE

Section 14.01.  Exchange Rights...............................................................   69
Section 14.02.  Exchange Rights Based on Common Stock Price...................................   70
Section 14.03.  Exchange Rights Upon Credit Rating Events.....................................   70
</TABLE>

                                       iv

<PAGE>

<TABLE>
<S>                                                                                              <C>
Section 14.04.  Exchange Rights Upon Notice of Redemption.....................................   70
Section 14.05.  Exchange Rights Upon Occurrence of Certain Corporate Transactions.............   70
Section 14.06.  Exchange Upon Satisfaction of Trading Price Condition.........................   71
Section 14.07.  Exchange Procedures...........................................................   72
Section 14.08.  Fractional Shares.............................................................   73
Section 14.09.  Taxes on Exchange.............................................................   74
Section 14.10.  Reservation of Shares, Shares to Be Fully Paid; Compliance with Governmental
        Requirements; Listing of Common Stock.................................................   74
Section 14.11.  Adjustment of Exchange Rate...................................................   75
Section 14.12.  Other Adjustments.............................................................   85
Section 14.13.  Notice of Certain Transactions................................................   85
Section 14.14.  Effect of Reclassification, Consolidation, Merger or Sale on Exchange
        Privilege ............................................................................   86
Section 14.15.  Trustee's Disclaimer..........................................................   87
Section 14.16.  Rights Issued in Respect of Common Stock Issued Upon Exchange.................   87
Section 14.17.  Issuer Determination Final....................................................   88

                                   ARTICLE 15
                          PURCHASE AT OPTION OF HOLDERS

Section 15.01 . Right to Require Purchase.....................................................   88
Section 15.02.  Purchase Procedures...........................................................   88
Section 15.03.  Effect of Purchase Notice.....................................................   90
Section 15.04.  Deposit of Purchase Price.....................................................   91
Section 15.05.  Securities Purchased in Part..................................................   91
Section 15.06.  Repayment to the Issuer.......................................................   92

                                   ARTICLE 16
             PURCHASE AT OPTION OF HOLDER UPON A FUNDAMENTAL CHANGE

Section 16.01.  Right to Require Purchase.....................................................   92
Section 16.02.  Effect of Fundamental Change Purchase Notice..................................   95
Section 16.03.  Deposit of Fundamental Change Purchase Price..................................   96
Section 16.04.  Securities Purchased in Part..................................................   97
Section 16.05.  Repayment to the Issuer.......................................................   97

                                   ARTICLE 17
                               CONTINGENT INTEREST

Section 17.01.  Contingent Interest...........................................................   97
Section 17.02.  Payment of Contingent Interest................................................   98
Section 17.03.  Notice of Contingent Interest.................................................   98
</TABLE>

                                        v

<PAGE>

<TABLE>
<S>                                                                                             <C>
                                   ARTICLE 18
   IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS, DIRECTORS AND EMPLOYEES

Section 18.01.  Exemption From Individual Liability...........................................   98

                                   ARTICLE 19
                            MISCELLANEOUS PROVISIONS

Section 19.01.  Trust Indenture Act Controls..................................................   99
Section 19.02.  Notices.......................................................................   99
Section 19.03.  Communications by Holders with Other Holders..................................  100
Section 19.04.  Certificate and Opinion as to Conditions Precedent............................  100
Section 19.05.  Statements Required in Certificate............................................  101
Section 19.06.  Rules by Trustee, Paying Agent, Exchange Agent Registrar......................  101
Section 19.07.  GOVERNING LAW.................................................................  101
Section 19.08.  No Recourse Against Others....................................................  101
Section 19.09.  Successors....................................................................  102
Section 19.10.  Counterpart Originals.........................................................  102
Section 19.11.  Severability..................................................................  102
Section 19.12.  No Adverse Interpretation of Other Agreements.................................  102
Section 19.13.  Legal Holidays................................................................  102
</TABLE>

EXHIBIT A  --  Form of Global Security

                                       vi

<PAGE>

         INDENTURE, dated as of the 12th day of May, 2003, among LIN TELEVISION
CORPORATION, a Delaware corporation (the "ISSUER"), the Guarantors named herein
and THE BANK OF NEW YORK, a New York banking corporation (the "TRUSTEE").

         WHEREAS, for its lawful corporate purposes, the Issuer deems it
necessary to issue its securities and has duly authorized the execution and
delivery of this Indenture to provide for the issuance of its 2.50% Exchangeable
Senior Subordinated Debentures due 2033 (the "SECURITIES").

         NOW, THEREFORE, THIS INDENTURE WITNESSETH:

         For and in consideration of the premises and the purchase of the
Securities by the Holders thereof, it is mutually covenanted and agreed by the
Issuer, the Guarantors named herein and the Trustee, for the equal and
proportionate benefit of all Holders of the Securities, as follows:

                                    ARTICLE 1
             DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION

         Section 1.01.  Certain Terms Defined.

         (a)      Definitions.

         "ACCELERATION NOTICE" has the meaning set forth in Section 4.02.

         "AFFILIATE" of any specified Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with such specified Person. For the purposes of this definition,
"control" when used with respect to any specified Person means the power to
direct or cause the direction of the management and policies of such Person,
directly or indirectly, whether through the ownership of voting securities, by
contract or otherwise; and the terms "controlling" and "controlled" have
meanings correlative to the foregoing. Chase, Deutsche and their Affiliates
shall not be deemed Affiliates of the Issuer by reason of the Senior Credit
Facilities or their direct or indirect investments in any fund managed by Hicks
Muse or any Person in which any such fund is invested.

         "AFFILIATE GUARANTEE" has the meaning set forth in Section 6.01.

         "AGENT" MEANS any Registrar, Paying Agent or co-Registrar.

         "AGENT MEMBERS" has the meaning set forth in Section 2.12(f).

<PAGE>

         "APPLICABLE STOCK PRICE" means, in respect of a Exchange Date, the
average of the Closing Sale Prices per share of Common Stock over the
five-Trading Day period starting the third Trading Day following such Exchange
Date.

         "BANKRUPTCY LAW" means Title 11, United States Code or any similar
federal, state or foreign law for the relief of debtors.

         "BASE EXCHANGE PRICE" means the dollar amount derived by dividing the
Principal Amount by the Base Exchange Rate.

         "BASE EXCHANGE RATE" means 26.8240 shares of Common Stock, subject to
adjustment as set forth in Section 14.11 per $1,000 Principal Amount of
Securities.

         "BLOCKAGE NOTICE" has the meaning set forth in Section 5.03.

         "BOARD OF DIRECTORS" means either the board of directors of the Issuer
or LIN TV, as the case may be, or any duly authorized committee of such board.

         "BOARD RESOLUTION" shall mean a copy of a resolution certified by the
Secretary or an Assistant Secretary of the Issuer to have been duly adopted by
the Board of Directors and to be in full force and effect on the date of such
certification, and delivered to the Trustee.

         "BUSINESS DAY" means any day other than a Saturday, a Sunday or a day
on which banking institutions in The City of New York are authorized or required
by law, regulation or executive order to close.

         "CAPITAL STOCK" means (i) with respect to any Person that is a
corporation, any and all shares, interests, participations or other equivalents
(however designated) of capital stock of such Person and (ii) with respect to
any Person that is not a corporation, any and all partnership or other equity
interests of such Person.

         "CAPITALIZED LEASE OBLIGATION" means, as to any Person, the obligation
of such Person to pay rent or other amounts under a lease to which such Person
is a party that is required to be classified and accounted for as a capital
lease obligation under GAAP, and for purposes of this definition, the amount of
such obligation at any date shall be the capitalized amount of such obligation
at such date, determined in accordance with GAAP.

         "CASH EQUIVALENTS" means (i) marketable direct obligations issued by,
or unconditionally guaranteed by, the United States Government or issued by any
agency thereof and backed by the full faith and credit of the United States, in

                                        2

<PAGE>

each case maturing within one year from the date of acquisition thereof; (ii)
marketable direct obligations issued by any state of the United States of
America or any political subdivision of any such state or any public
instrumentality thereof maturing within one year from the date of acquisition
thereof and, at the time of acquisition, having one of the two highest ratings
obtainable from either S&P or Moody's; (iii) commercial paper maturing no more
than one year from the date of creation thereof and, at the time of acquisition,
having a rating of at least A-1 from S&P or at least P-1 from Moody's; (iv)
certificates of deposit or bankers' acceptances maturing within one year from
the date of acquisition thereof issued by any commercial bank organized under
the laws of the United States of America or any state thereof or the District of
Columbia or any U.S. branch of a foreign bank having at the date of acquisition
thereof combined capital and surplus of not less than $200,000,000; (v)
repurchase obligations with a term of not more than seven days for underlying
securities of the types described in clause (i) above entered into with any bank
meeting the qualifications specified in clause (iv) above; and (vi) investments
in money market funds that invest substantially all their assets in securities
of the types described in clauses (i) through (v) above.

         "CHANGE OF CONTROL" means the occurrence of one or more of the
following events: (i) any sale, lease, exchange or other transfer (in one
transaction or a series of related transactions) of all or substantially all of
the assets of the Issuer to any Person or group of related Persons for purposes
of Section 13(d) of the Exchange Act (a "GROUP") (whether or not otherwise in
compliance with the provisions of this Indenture), other than to Hicks, Muse
State & Furst Incorporated, a Delaware corporation, or any of its Affiliates,
officers or directors (the "PERMITTED HOLDERS"); or (ii) a majority of the board
of directors of the Issuer or LIN TV shall consist of Persons who are not
Continuing Directors; or (iii) the acquisition by any Person or Group (other
than the Permitted Holders or any direct or indirect subsidiary of any Permitted
Holder, including without limitation a Holding Company) of the power, directly
or indirectly, to vote or direct the voting of securities having more than 50%
of the ordinary voting power for the election of directors of the Issuer.

         "CHASE" has the meaning provided in the definition of "Senior Credit
Facilities."

         "CLOSING SALE PRICE" of the shares of Common Stock on any date means
the closing sale price per share (or, if no closing sale price is reported, the
average of the closing bid and ask prices or, if more than one in either case,
the average of the average closing bid and the average closing ask prices) on
such date as reported on the principal United States securities exchange on
which shares of Common Stock are traded or, if the shares of Common Stock are
not listed on a United States national or regional securities exchange, as
reported by

                                        3

<PAGE>

NASDAQ or by the National Quotation Bureau Incorporated. In the absence of such
quotations, the Issuer shall be entitled to determine the Closing Sale Price on
the basis it considers appropriate. The Closing Sale Price shall be determined
without reference to extended or after hours trading.

         "COMMISSION" means the Securities and Exchange Commission.

         "COMMODITY AGREEMENT" means any commodity futures contract, commodity
option or other similar agreement or arrangement.

         "COMMON STOCK" shall mean the shares of Class A Common Stock, $0.01 par
value, of LIN TV as it exists on the date of this Indenture or any other shares
of capital stock of the Issuer into which such Class A Common Stock shall be
reclassified or changed.

         "CONTINGENT INTEREST" means such cash interest payable as described in
Article 17.

         "CONTINUING DIRECTOR" means, as of the date of determination, any
Person who (i) was a member of the Board of Directors of the Issuer or LIN TV as
of the date of this Indenture, (ii) was nominated for election or elected to the
Board of Directors of the Issuer or LIN TV, as the case may be, with the
affirmative vote of a majority of the Continuing Directors who were members of
such Board of Directors at the time of such nomination or election or (iii) is a
representative of a Permitted Holder.

         "CORPORATE TRUST OFFICE" means the principal office of the Trustee at
which at any time its corporate trust business shall be administered, which
office at the date hereof is located at 101 Barclay Street, 8W, New York, NY
10286, Attention: Corporate Trust Officer, or such other address as the Trustee
may designate from time to time by notice to the Holders and the Issuer, or the
principal corporate trust office of any successor Trustee (or such other address
as a successor Trustee may designate from time to time by notice to the Holders
and the Issuer).

         "CREDIT AGREEMENT" means the amended and restated credit agreement
dated as of February 7, 2003, among Holdings, the Issuer, Televicentro of Puerto
Rico, LLC, Chase, as administrative agent, J.P. Morgan Securities Inc. and
Deutsche Bank Securities Inc. as joint lead arrangers and joint bookrunners,
Deutsche, as syndication agent, The Bank of Nova Scotia, Fleet National Bank and
Morgan Stanley Senior Funding, as co-documentation agents, and the other
financial institutions from time to time party thereto, together with the
related documents thereto (including, without limitation, any guarantee
agreements and security documents), in each case as such agreements may be
amended (including any amendment and restatement thereof), supplemented or
otherwise

                                        4

<PAGE>

modified from time to time, including any agreement extending the maturity of,
refinancing, replacing or otherwise restructuring (including by way of adding
Subsidiaries of the Issuer as additional borrowers or guarantors thereunder) all
or any portion of the Indebtedness under such agreement or any successor or
replacement agreement and whether by the same or any other agent, lender or
group of lenders (or other institutions).

         "CREDIT AGREEMENT INDEBTEDNESS" has the meaning set forth in Section
4.06.

         "CURRENCY AGREEMENT" means any foreign exchange contract, currency swap
agreement or other similar agreement or arrangement.

         "CUSTODIAN" means any receiver, trustee, assignee, liquidator,
sequestrator or similar official under any Bankruptcy Law.

         "DEFAULT" means an event or condition the occurrence of which is, or
with the lapse of time or the giving of notice or both would be, an Event of
Default.

         "DEFAULTED INTEREST" has the meaning specified in Section 2.14.

         "DEPOSITARY" means, with respect to the Securities issued in the form
of one or more Global Securities, The Depository Trust Company or another Person
designated as Depositary by the Issuer, which must be a clearing agency
registered under the Exchange Act.

         "DEPOSITARY CUSTODIAN" means any Person appointed by the Trustee to act
as custodian of Global Securities for the Depositary.

         "DESIGNATED SENIOR INDEBTEDNESS" means (i) all obligations under the
Senior Credit Facilities and (ii) any other Senior Indebtedness of the Issuer
which, at the date of determination, has an aggregate principal amount
outstanding of, or under which, at the date of determination, the holders
thereof are committed to lend up to, at least $20,000,000 and is specifically
designated by the Issuer in the instrument evidencing or governing such Senior
Indebtedness as "Designated Senior Indebtedness" for purposes of this Indenture.

         "DEUTSCHE" has the meaning provided in the definition of "Senior Credit
Facilities."

         "DISQUALIFIED CAPITAL STOCK" means any Capital Stock that, by its terms
(or by the terms of any security into which it is convertible or for which it is
exchangeable), or upon the happening of any event, matures (excluding any

                                        5

<PAGE>

maturity as the result of an optional redemption by the issuer thereof) or is
mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or
is redeemable at the sole option of the holder thereof (except, in each case,
upon the occurrence of a Change of Control), in whole or in part, on or prior to
the Stated Maturity Date of the Securities; provided that only the portion of
Capital Stock which so matures or is mandatorily redeemable or is so redeemable
at the sole option of the holder thereof prior to May 15, 2033 shall be deemed
Disqualified Capital Stock.

         "EXCHANGE NOTICE" has the meaning set forth in Section 14.07.

         "EFFECTIVE EXCHANGE PRICE" means, as of any date of determination, a
dollar amount derived by dividing the Principal Amount by the Exchange Rate then
in effect (assuming a Exchange Date eight Trading Days prior to the date of
determination); provided that from and after May 15, 2008 (or if such day is not
a Business Day, the immediately succeeding Business Day), the Effective Exchange
Price shall be the Principal Amount as of such date of determination divided by
the Fixed Exchange Rate.

         "EVENT OF DEFAULT" has the meaning provided in Section 4.01.

         "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended
from time to time, and the rules and regulations of the Commission promulgated
thereunder.

         "EXCHANGE AGENT" has the meaning set forth in Section 2.03.

         "EXCHANGE RATE" with respect to any Exchange Date prior to May 15, 2008
means:

                  (i)      if the Applicable Stock Price is less than or equal
         to the Base Exchange Price, the Base Exchange Rate; or

                  (ii)     if the Applicable Stock Price is greater than the
         Base Exchange Price, the number of shares of Common Stock determined in
         accordance with the following formula:

                  (Applicable - Base Exchange
Base Exchange + [    Stock Price   Price)
Rate              ---------------------------     x Incremental Share Factor]
                     Applicable Stock Price)

Notwithstanding the foregoing, in no event will the Exchange Rate exceed the
Maximum Exchange Rate. From and after May 15, 2008, the Exchange Rate shall be
fixed at the Exchange Rate determined as set forth above assuming a

                                        6

<PAGE>

Exchange Date that is eight Trading Days prior to May 15, 2008 (the "FIXED
EXCHANGE RATE"), subject to adjustment as set forth in Article 14.

         "FCC" has the meaning set forth in Section 4.06.

         "FIXED EXCHANGE RATE" has the meaning set forth in the definition of
Exchange Rate.

         "FUNDING GUARANTOR" has the meaning set forth in Section 6.05.

         "GAAP" means generally accepted accounting principles in the United
States of America as in effect as of the date of this Indenture, including those
set forth in the opinions and pronouncements of the Accounting Principles Board
of the American Institute of Certified Public Accountants and statements and
pronouncements of the Financial Accounting Standards Board or the Commission or
in such other statements by such other entity as approved by a significant
segment of the accounting profession. All ratios and computations based on GAAP
contained in this Indenture shall be computed in conformity with GAAP.

         "GLOBAL SECURITY" or "GLOBAL SECURITIES" means Securities that are in
the form of the Securities attached hereto as Exhibit A.

         "GUARANTEE" means a guarantee (other than by endorsement of negotiable
instruments for collection in the ordinary course of business), direct or
indirect, in any manner (including, without limitation, by way of a pledge of
assets or through letters of credit or reimbursement agreements in respect
thereof), of all or any part of any Indebtedness.

         "GUARANTOR" means LIN TV and each of the Issuer's direct and indirect,
existing and future Restricted Subsidiaries, other than a Subsidiary organized
under the laws of a jurisdiction other than the United States or any state
thereof, provided that such Subsidiary's assets and principal place of business
are located outside the United States and shall include each of the Issuer's
Subsidiaries that guarantee the Senior Credit Facilities.

         "GUARANTOR BLOCKAGE NOTICE" has the meaning set forth in Section 7.03.

         "GUARANTOR PAYMENT BLOCKAGE PERIOD" has the meaning set forth in
Section 7.03.

         "GUARANTOR SENIOR INDEBTEDNESS" means, as to any Guarantor, Senior
Indebtedness of such Guarantor, it being understood that for the purpose of this
definition, all references to the Issuer in the definition of Senior
Subordinated Indebtedness shall be deemed references to such Guarantor.

                                        7

<PAGE>

         "GUARANTOR SENIOR SUBORDINATED INDEBTEDNESS" means, as to any
Guarantor, Senior Subordinated Indebtedness of such Guarantor, it being
understood that for purposes of this definition, all references to the Issuer in
the definition of Senior Subordinated Indebtedness shall be deemed references to
such Guarantor.

         "HICKS MUSE" means Hicks, Muse, Tate & Furst Incorporated, a Delaware
corporation.

         "HOLDER" means a person in whose name a Security is registered on the
Registrar's books.

         "HOLDING COMPANY" means a company as to which the Issuer is, directly
or indirectly, a Subsidiary.

         "HOLDINGS" means LIN Holdings Corp., a Delaware corporation, and any
successor in interest thereto.

         "INCREMENTAL SHARE FACTOR" means 23.6051 shares of Common Stock,
subject to adjustment as set forth in Article 14.

         "INDEBTEDNESS" means with respect to any Person, without duplication,
any liability of such Person (i) for borrowed money, (ii) evidenced by bonds,
debentures, notes or other similar instruments, (iii) constituting Capitalized
Lease Obligations, (iv) incurred or assumed as the deferred purchase price of
property, or pursuant to conditional sale obligations and title retention
agreements (but excluding trade accounts payable arising in the ordinary course
of business), (v) for the reimbursement of any obligor on any letter of credit,
banker's acceptance or similar credit transaction, (vi) for Indebtedness of
others guaranteed by such Person, (vii) for Interest Swap Agreements, Commodity
Agreements and Currency Agreements and (viii) for Indebtedness of any other
Person of the type referred to in clauses (i) through (vii) which is secured by
any Lien on any property or asset of such first referred to Person, the amount
of such Indebtedness being deemed to be the lesser of the value of such property
or asset or the amount of the Indebtedness so secured. The amount of
Indebtedness of any Person at any date shall be (i) the outstanding principal
amount of all unconditional obligations described above, as such amount would be
reflected on a balance sheet prepared in accordance with GAAP, and the maximum
liability at such date of such Person for any contingent obligations described
above, (ii) the accreted value thereof, in the case of any Indebtedness issued
with original issue discount, and (iii) the principal amount thereof, together
with any interest thereon that is more than 30 days past due, in the case of any
other Indebtedness.

                                        8

<PAGE>

         "INDENTURE" means this Indenture, as amended or supplemented from time
to time in accordance with the terms hereof, including the provisions of the TIA
that are deemed to be a part hereof.

         "INTEREST PAYMENT DATE" means May 15, and November 15 of each year,
subject to Section 19.13, commencing November 15, 2003.

         "INTEREST PERIOD" means the period from and including the most recent
Interest Payment Date to which interest has been paid or duly made available for
payment (or May 12, 2003 if no interest has been paid or been duly made
available for payment) to, but excluding, the next succeeding Interest Payment
Date, or any earlier Fundamental Change Purchase Date, Redemption Date or
Purchase Date.

         "INTEREST SWAP AGREEMENTS" means any interest rate protection
agreement, interest rate future, interest rate option, interest rate swap,
interest rate cap or other interest rate hedge or arrangement.

         "ISSUE DATE" of any Security means the date on which the Security was
originally issued or deemed issued as set forth on the face of the Security.

         "ISSUER" means the party named as the "Issuer" in the first paragraph
of this Indenture until a successor replaces it pursuant to the applicable
provisions of this Indenture and, thereafter, shall mean such successor. The
foregoing sentence shall likewise apply to any such subsequent successor or
successors.

         "ISSUER REQUEST" or "ISSUER ORDER" means a written request or order
signed in the name of the Issuer by any Officer and delivered to the Trustee.

         "LEGEND" has the meaning set forth in Section 2.06(f).

         "LICENSE RIGHTS" has the meaning set forth in Section 4.06.

         "LIEN" means, with respect to any asset, any lien, mortgage, deed of
trust, pledge, security interest, charge or encumbrance of any kind (including
any conditional sale or other title retention agreement, any lease in the nature
thereof and any agreement to give any security interest).

         "LIN TV" means LIN TV Corp., a Delaware corporation, until a successor
replaces it pursuant to the applicable provisions of this Indenture and,
thereafter, shall mean such successor. The foregoing sentence shall likewise
apply to any such subsequent successor or successors.

         "LIQUIDATED DAMAGES" means the Liquidated Damages Amount (as defined in
the Registration Rights Agreement).

                                        9

<PAGE>

         "MAXIMUM EXCHANGE RATE" means 46.2748 shares of Common Stock, subject
to adjustment as set forth in Article 14.

         "MOODY'S" means Moody's Investors Services and its successors.

         "NASDAQ" means the NASDAQ National Market, Inc.

         "NON-ELECTING SHARE" has the meaning set forth in Section 14.14.

         "OBLIGATIONS" means all obligations for principal, premium, interest,
penalties, fees, indemnifications, reimbursements, damages and other liabilities
payable under the documentation governing, or otherwise relating to, any
Indebtedness.

         "OFFICER" means the Chairman of the Board, a Vice Chairman of the
Board, the President, any Vice President, the Chief Financial Officer, the
Treasurer, any Assistant Treasurer, the Controller, any Assistant Controller,
the Secretary, any Assistant Treasurer or any Assistant Secretary of the Issuer.

         "OFFICERS' CERTIFICATE" means a written certificate containing the
information specified in Section 19.04, signed in the name of the Issuer by any
two Officers and delivered to the Trustee.

         "OPINION OF COUNSEL" means a written opinion containing the information
specified in Section 19.04 from legal counsel that is delivered to the Trustee.
The counsel may be an employee of, or counsel to, the Issuer.

         "PAY THE SECURITIES" has the meaning set forth in Section 5.03.

         "PAYING AGENT" has the meaning set forth in Section 2.03(a).

         "PAYMENT BLOCKAGE PERIOD" has the meaning set forth in Section 5.03.

         "PERMITTED HOLDERS" has the meaning provided in the definition of
"Change of Control."

         "PERSON" or "PERSON" means any individual, corporation, limited
liability company, partnership, joint venture, association, joint-stock company,
trust, unincorporated organization, or government or any agency or political
subdivision thereof.

         "PREDECESSOR SECURITY" of any particular Security means every previous
Security evidencing all or a portion of the same debt as that evidenced by such
particular Security; and, for the purposes of this definition, any Security
authenticated and delivered under Section 2.07 in exchange for or in lieu of a

                                       10

<PAGE>

mutilated, destroyed, lost or stolen Security shall be deemed to evidence the
same debt as the mutilated, destroyed, lost or stolen Security.

         "PRINCIPAL AMOUNT" of a Security means the stated Principal Amount as
set forth on the face of such Security.

         "PURCHASE AGREEMENT" means the Purchase Agreement dated as of May 6,
2003 among the Issuer, LIN TV, the guarantors referred to therein and Deutsche
Bank Securities Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co.
Incorporated, Bear, Stearns & Co. Inc., Fleet Securities, Inc. and Scotia
Capital (USA) Inc., as initial purchasers.

         "QUALIFIED CAPITAL STOCK" means any Capital Stock that is not
Disqualified Capital Stock.

         "REDEMPTION DATE" means the date specified for redemption of the
Securities in accordance with the terms of the Securities and this Indenture.

         "REDEMPTION PRICE" means, when used with respect to any Security to be
redeemed, 100% of the Principal Amount of such Security as of the Redemption
Date, plus accrued and unpaid interest (including Contingent Interest and
Liquidated Damages, if any) to, but excluding, the Redemption Date.

         "REGISTRAR" has the meaning set forth in Section 2.03(a).

         "REGISTRATION RIGHTS AGREEMENT" means the Registration Rights Agreement
dated as of May 12, 2003 among the Issuer, LIN TV, Deutsche Bank Securities
Inc., J.P. Morgan Securities Inc., Morgan Stanley & Co. Incorporated, Bear,
Stearns & Co. Inc., Fleet Securities, Inc. and Scotia Capital (USA) Inc., as
initial purchasers.

         "REGULAR RECORD DATE" for the interest payable on any Interest Payment
Date means the May 1 or November 1, as the case may be, immediately preceding
such Interest Payment Date.

         "REPRESENTATIVE" means the indenture trustee or other trustee, agent or
representative in respect of any Senior Indebtedness; provided, however, that
if, and for so long as, any issue of Senior Indebtedness lacks such a
representative, then the holders of a majority in outstanding principal amount
of such issue of Senior Indebtedness shall at all times constitute the
Representative for such issue of Senior Indebtedness.

         "RESPONSIBLE OFFICER", when used with respect to the Trustee, means any
officer within the corporate trust department (or any successor group)

                                       11

<PAGE>

including without limitation any vice president, any assistant vice president,
any trust officer or any other officer of the Trustee customarily performing
functions similar to those performed by any of the above-designated officers and
also means, with respect to a particular corporate trust matter, any other
officer to whom such matter is referred because of his knowledge of and
familiarity with the particular subject and who shall have direct responsibility
for the administration of this Indenture.

         "RESTRICTED SUBSIDIARY" means a Subsidiary of the Issuer other than an
Unrestricted Subsidiary and includes all of the Subsidiaries of the Issuer
existing as of the date of this Indenture.

         "RULE 144A" means Rule 144A under the Securities Act (or any successor
provision), as it may be amended from time to time.

         "S&P" means Standard & Poor's Ratings Services, a division of the
McGraw-Hill Companies Inc., and its successors.

         "SECURITIES" or "SECURITY" means any of the Issuer's 2.50% Exchangeable
Senior Subordinated Debentures due 2033, as amended or supplemented from time to
time, issued under this Indenture.

         "SECURITIES ACT" means the Securities Act of 1933, as amended from time
to time, and the rules and regulations of the Commission promulgated thereunder.

         "SECURITY REGISTER" means the register maintained by the Registrar that
evidences ownership of the Securities.

         "SENIOR CREDIT FACILITIES" means the Senior Credit Facilities, under
that certain Amended and Restated Credit Agreement dated as of February 7, 2003,
among LIN Holdings Corp., the Issuer, Televicientro of Puerto Rico, LLC,
JPMorgan Chase Bank ("CHASE"), as administrative agent, Deutsche Bank Trust
Company Americas ("DEUTSCHE"), as syndication agent, The Bank of Nova Scotia,
Fleet National Bank and Morgan Stanley Senior Funding, as co-documentation
agents, and the other financial institutions from time to time party thereto,
together with the related documents thereto (including, without limitation, any
guarantee agreements and any security documents), in each case as such
agreements may be amended (including any amendment and restatement thereof),
supplemented or otherwise modified from time to time, including any agreement
extending the maturity of, refinancing, replacing or otherwise restructuring
(including by way of adding Subsidiaries of the Issuer as additional borrowers
or guarantors thereunder) all or any portion of the Indebtedness under such
agreement or any successor or replacement agreement and whether by the same or
any other agent, lender or group of lenders (or other institutions).

                                       12

<PAGE>

         "SENIOR INDEBTEDNESS" means, whether outstanding on the date of this
Indenture or thereafter issued, all Indebtedness of the Issuer, including
interest (including interest accruing on or after the filing of any petition in
bankruptcy or for reorganization relating to the Issuer or any Restricted
Subsidiary whether or not a claim for post-filing interest is allowed in such
proceeding) and premium, if any, thereon, and other monetary amounts (including
fees, expenses, reimbursement obligations under letters of credit and
indemnities) owing in respect thereof unless, in the instrument creating or
evidencing the same or pursuant to which the same is outstanding, it is provided
that the obligations in respect of such Indebtedness rank pari passu with the
Securities; provided, however, that Senior Indebtedness will not include (1) any
obligation of the Issuer to any Restricted Subsidiary, (2) any liability for
federal, state, foreign, local or other taxes owed or owing by the Issuer, (3)
any accounts payable or other liability to trade creditors arising in the
ordinary course of business (including Guarantees thereof or instruments
evidencing such liabilities), (4) any Indebtedness, Guarantee or obligation of
the Issuer that is expressly subordinate or junior in right of payment to any
other Indebtedness, Guarantee or obligation of the Issuer, including any Senior
Subordinated Indebtedness, or (5) obligations in respect of any Capital Stock.

         "SENIOR SUBORDINATED INDEBTEDNESS" means the Securities and any other
Indebtedness of the Issuer that specifically provides that such Indebtedness is
to rank pari passu with the Securities in right of payment and is not
subordinated by its terms in right of payment to any Indebtedness or other
obligation of the Issuer which is not Senior Indebtedness.

         "SIGNIFICANT RESTRICTED SUBSIDIARY" means, at any date of
determination, any Restricted Subsidiary that would be a "significant
subsidiary" as defined in Article I, Rule 1-02 of Regulation S-X, promulgated
under the Securities Act, as such rule is in effect on the date of this
Indenture.

         "SPECIAL RECORD DATE" means, for the payment of any Defaulted Interest,
the date fixed by the Trustee pursuant to Section 2.14.

         "STATED MATURITY DATE" means May 15, 2033.

         "SUBSIDIARY" with respect to any Person, means (i) any corporation of
which the outstanding Capital Stock having at least a majority of the votes
entitled to be cast in the election of directors under ordinary circumstances
shall at the time be owned, directly or indirectly through one or more
intermediaries, by such Person or (ii) any other Person of which at least a
majority of the voting interest under ordinary circumstances is at the time,
directly or indirectly through one or more intermediaries, owned by such Person.
Notwithstanding anything in this Indenture to the contrary, all references to
the Issuer and its consolidated

                                       13

<PAGE>

Subsidiaries or to financial information prepared on a consolidated basis in
accordance with GAAP shall be deemed to include the Issuer and its Subsidiaries
as to which financial statements are prepared on a combined basis in accordance
with GAAP and to financial information prepared on such a combined basis.
Notwithstanding anything in this Indenture to the contrary, an Unrestricted
Subsidiary shall not be deemed to be a Restricted Subsidiary for purposes of
this Indenture.

         "SUBSIDIARY GUARANTOR" means a Guarantor other than LIN TV.

         "TAX ORIGINAL ISSUE DISCOUNT" means the amount of ordinary interest
income on a Security that must be accrued as original issue discount for United
States Federal income tax purposes pursuant to Treasury Regulation Section
1.1275-4 or any successor provision.

         "TIA" means the Trust Indenture Act of 1939 as in effect on the date of
this Indenture, provided, however, that in the event the TIA is amended after
such date, TIA means, to the extent required by any such amendment, the TIA as
so amended.

         "TRADING DAY" means a day during which trading in securities generally
occurs on the New York Stock Exchange or, if the Common Stock is not listed on
the New York Stock Exchange, on the principal other national or regional
securities exchange on which the Common Stock is then listed or, if the Common
Stock is not listed on a national or regional securities exchange, by NASDAQ or,
if the Common Stock is not quoted by NASDAQ, on the principal other market on
which the Common Stock is then traded.

         "TRADING PRICE" means, on any date, the average of the secondary market
bid quotations per $1,000 Principal Amount of the Securities obtained by the
Trustee for $5,000,000 Principal Amount of Securities at approximately 3:30
p.m., New York City time, on such date from three independent nationally
recognized securities dealers selected by the Issuer; provided that if at least
three such bids cannot reasonably be obtained by the Trustee, but two bids are
obtained, then the average of the two bids shall be used, and if only one such
bid can reasonably be obtained by the Trustee, one bid shall be used; and
provided further that if the Trustee cannot reasonably obtain at least one bid
for $5,000,000 Principal Amount of Securities from a nationally recognized
securities dealer or in the Issuer's reasonable judgment, the bid quotations are
not indicative of the secondary market value of the Securities, then the Trading
Price per $1,000 Principal Amount of Securities on such date shall be deemed to
be less than 98% of the product of (a) the Exchange Rate on such date
(determined using the Closing Sale Price on such date rather than the Applicable
Stock Price) and (b) the Closing Sale Price on such date.

                                       14

<PAGE>

         "TRUSTEE" means the party named as the "Trustee" in the first paragraph
of this Indenture until a successor replaces it pursuant to the applicable
provisions of this Indenture and, thereafter, shall mean such successor. The
foregoing sentence shall likewise apply to any subsequent such successor or
successors.

         "TRUST OFFICER" means any officer within the corporate trust department
(or any successor group of the Trustee) including any vice president, assistant
vice president, assistant secretary or any other officer or assistant officer of
the Trustee customarily performing functions similar to those performed by the
persons who at that time shall be such officers, and also means, with respect to
a particular corporate trust matter, any other officer to whom such trust matter
is referred because of his knowledge of and familiarity with the particular
subject.

         "U.S. GOVERNMENT OBLIGATIONS" means direct obligations (or certificates
representing an ownership interest in such obligations) of the United States of
America (including any agency or instrumentality thereof) for the payment of
which the full faith and credit of the United States of America is pledged and
which are not callable or redeemable at the issuer's option.

         "UNRESTRICTED SUBSIDIARY" means a Subsidiary of the Issuer so
designated by a resolution adopted by the Board of Directors of the Issuer;
provided, however, that (a) neither the Issuer nor any of its other Restricted
Subsidiaries (1) provides any credit support for any Indebtedness or other
Obligations of such Subsidiary (including any undertaking, agreement or
instrument evidencing such Indebtedness) or (2) is directly or indirectly liable
for any Indebtedness or other Obligations of such Subsidiary and (b) at the time
of designation of such Subsidiary, such Subsidiary has no property or assets
(other than de minimis assets resulting from the initial capitalization of such
Subsidiary). The Board of Directors may designate any Unrestricted Subsidiary to
be a Restricted Subsidiary; provided, however, that immediately after giving
effect to such designation no Default or Event of Default shall have occurred or
be continuing. Any designation pursuant to this definition by the Board of
Directors of the Issuer shall be evidenced to the Trustee by the filing with the
Trustee of a certified copy of the resolution of the Issuer's Board of Directors
giving effect to such designation and an Officers' Certificate certifying that
such designation complies with the foregoing conditions.

         "WEIGHTED AVERAGE LIFE TO MATURITY" means, when applied to any
Indebtedness at any date, the number of years obtained by dividing (a) the then
outstanding aggregate principal amount of such Indebtedness into (b) the total
of the product obtained by multiplying (i) the amount of each then remaining
installment, sinking fund, serial maturity or other required payment of
principal, including payment at final maturity, in respect thereof, by (ii) the
number of

                                       15

<PAGE>

years (calculated to the nearest one-twelfth) which will elapse between such
date and the making of such payment.

         (b)      Other Definitions.

<TABLE>
<CAPTION>
                                                                         DEFINED IN
                                   TERM                                   SECTION
----------------------------------------------------------------------   ----------
<S>                                                                      <C>
"Act"..................................................................   1.03
"Adjustment Event".....................................................  14.11(m)
"Current Market Price".................................................  14.11(i)
"Determination Date"...................................................  14.11(m)
"Distributed Property" ................................................  14.11(d)
"Ex-Dividend Date".....................................................  14.11(g)
"Ex-Dividend Time".....................................................  14.05
"Expiration Time"......................................................  14.11(f)
"Fair Market Value"....................................................  14.11(i)
"Fundamental Change"...................................................  16.01(a)
"Fundamental Change Purchase Date".....................................  16.01(a)
"Fundamental Change Purchase Notice"...................................  16.01(c)
"Fundamental Change Purchase Price"....................................  16.01(a)
"Principal Value Exchange".............................................  14.06
"Purchase Date"........................................................  15.01
"Purchased Shares" ....................................................  14.11(f)
"Purchase Notice"......................................................  15.01
"Purchase Price".......................................................  15.01
"QIB"..................................................................   2.01
"Record Date"..........................................................  14.11(i)
"Rights"...............................................................  14.16
"Rights Agreement".....................................................  14.16
"Trigger Event" .......................................................  14.11(d)
</TABLE>

         Section 1.02.  Forms of Documents Delivered to Trustee. In any case
where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be certified
by, or covered by the opinion of, only one such Person, or that they be so
certified or covered by only one document, but one such Person may certify or
give an opinion with respect to some matters and one or more other such Persons
as to other matters, and any such Person may certify or give an opinion as to
such matters in one or several documents.

         Any certificate or opinion of an officer of the Issuer may be based,
insofar as it relates to legal matters, upon a certificate or opinion of, or
representations by, counsel, unless such officer actually knows that the
certificate or opinion or representations with respect to the matters upon which

                                       16

<PAGE>

his certificate or opinion is based are erroneous. Any such certificate or
Opinion of Counsel may be based, insofar as it relates to factual matters, upon
a certificate or opinion of, or representations by, an officer or officers of
the Issuer stating that the information with respect to such factual matters is
in the possession of the Issuer, unless such counsel knows, or in the exercise
of reasonable care (but without having made an investigation specifically for
the purpose of rendering such opinion) should know, that the certificate or
opinion or representations with respect to such matters are erroneous.

         Where any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or other
instruments under this Indenture, they may, but need not, be consolidated and
form one instrument.

         Section 1.03.  Acts of Holders. (a) Any request, demand, authorization,
direction, notice, consent, waiver or other action provided by this Indenture
to be given or taken by Holders may be embodied in and evidenced by one or more
instruments of substantially similar tenor signed by such Holders in person or
by an agent duly appointed in writing; and, except as herein otherwise
expressly provided, such action shall become effective when such instrument or
instruments are delivered to the Trustee and, where it is hereby expressly
required, to the Issuer. Such instrument or instruments (and the action
embodied therein and evidenced thereby) are herein sometimes referred to as the
"ACT" of the Holders signing such instrument or instruments. Proof of execution
of any such instrument or of a writing appointing any such agent shall be
sufficient for any purpose of this Indenture and (subject to Section 8.01)
conclusive in favor of the Trustee and the Issuer, if made in the manner
provided in this Section.

         (b)      The fact and date of the execution by any Person of any such
instrument or writing may be proved in any manner which the Trustee deems
sufficient.

         (c)      The ownership of Securities shall be proved by the Security
Register.

         (d)      Any request, demand, authorization, direction, notice,
consent, waiver or other Act of the Holder of any Security shall bind every
future Holder of the same Security and the Holder of every Security issued upon
the registration of transfer thereof or in exchange therefor or in lieu thereof
in respect of anything done, omitted or suffered to be done by the Trustee or
the Issuer in reliance thereon, whether or not notation of such action is made
upon such Security.

         (e)      The Issuer may, but shall not be obligated to, set a record
date for purposes of determining the identity of Holders entitled to vote or
consent to any

                                       17

<PAGE>

action by vote or consent authorized or permitted under this Indenture. If a
record date is fixed, those persons who were Holders of Securities at such
record date (or their duly designated proxies), and only those persons, shall be
entitled to take such action by vote or consent or to revoke any vote or consent
previously given, whether or not such persons continue to be Holders after such
record date. No action approved by such vote or consent shall be taken more than
six months after such record date.

         Section 1.04.  Effect of Headings and Table of Contents. The
Article and Section headings herein and the Table of Contents are for
convenience only and shall not affect the construction hereof.

         Section 1.05.  Benefits of Indenture. Nothing in this Indenture or
in the Securities, express or implied, shall give to any Person, other than the
parties hereto and their successors hereunder and the Holders, any benefit or
any legal or equitable right, remedy or claim under this Indenture.

                                    ARTICLE 2
                                 THE SECURITIES

         Section 2.01.  Form and Dating. The Securities and the Trustee's
certificate of authentication thereof shall be substantially in the form of
Exhibit A hereto, which is hereby incorporated in and expressly made a part of
this Indenture. The Securities may have notations, legends or endorsements
(including the Affiliate Guarantee) required by law, stock exchange rule or
usage. The Issuer and the Trustee shall approve the form of the Securities and
any notation, legend or endorsement (including the Affiliate Guarantee) on them.
Each Security shall be dated the date of its issuance and shall show the date of
its authentication.

         All of the Securities are initially being offered and sold to qualified
institutional buyers as defined in Rule 144A (collectively, "QIBS" or
individually a "QIB") in reliance on Rule 144A under the Securities Act and
shall be issued initially in the form of one or more restricted Global
Securities, which shall be deposited on behalf of the purchasers of the
Securities represented thereby with the Trustee, or any Depositary Custodian, as
custodian for the Depositary, and registered in the name of its nominee, Cede &
Co., duly executed by the Issuer and authenticated by the Trustee as hereinafter
provided.

         Each Global Security shall represent such of the outstanding Securities
as shall be specified therein and each shall provide that it shall represent the
aggregate Principal Amount of outstanding Securities from time to time endorsed
thereon and that the aggregate Principal Amount of outstanding

                                       18

<PAGE>

Securities represented thereby may from time to time be reduced or increased, as
appropriate, to reflect exchanges, redemptions, purchases or conversions of such
Securities. Any endorsement of a Global Security to reflect the amount of any
increase or decrease in the Principal Amount of outstanding Securities
represented thereby shall be made by the Trustee or Depositary Custodian in
accordance with the standing instructions and procedures existing between the
Depositary and the Trustee or Depositary Custodian.

         Certificated Securities shall be issued only under the limited
circumstances provided in Section 2.12(b) hereof.

         Section 2.02.  Execution and Authentication. (a) One or more Officers
shall sign (each of whom shall, in each case, have been duly authorized by all
requisite corporate actions) the Securities for the Company by manual or
facsimile signature.

         (b)      If an Officer whose signature is on a Security or an Affiliate
Guarantee, as the case may be, was an Officer at the time of such execution but
no longer holds that office at the time the Trustee authenticates the Security
or Affiliate Guarantee, as the case may be, the Security or Affiliate Guarantee,
as the case may be, shall be valid nevertheless.

         (c)      A Security shall not be valid until an authorized signatory of
the Trustee manually signs the certificate of authentication on the Security.
The signature shall be conclusive evidence that the Security has been
authenticated under this Indenture.

         (d)      The Trustee shall authenticate Securities for original issue
in an aggregate Principal Amount not to exceed such written order as shall
specify the amount of Securities to be authenticated and the date on which the
Securities are to be authenticated and specifying such other information as the
Trustee may reasonably request. The aggregate Principal Amount of Securities
outstanding at any time may not exceed $100,000,000 ($125,000,000 if the Initial
Purchasers exercise the option granted to them pursuant to Section 2(b) of
Purchase Agreement in full).

         (e)      Notwithstanding the foregoing, all Securities issued under
this Indenture shall vote and consent together on all matters (as to which any
of such Securities may vote or consent) as one class and no series of Securities
will have the right to vote or consent as a separate class on any matter.

         (f)      The Trustee may appoint an authenticating agent reasonably
acceptable to the Issuer to authenticate Securities. Unless otherwise provided
in the appointment, an authenticating agent may authenticate Securities whenever
the Trustee may do so. Each reference in this Indenture to authentication by the

                                       19

<PAGE>

Trustee includes authentication by such agent. An authenticating agent shall
have the same rights as an Agent to deal with the Issuer and Affiliates of the
Issuer.

         (g)      The Securities shall be issuable only in registered form
without coupons in denominations of $1,000 and any integral multiple thereof.

         Section 2.03.  Registrar, Paying Agent, Exchange Agent. (a) The Issuer
shall maintain an office or agency, which may be in the Borough of Manhattan,
The City of New York, where (i) Securities may be presented or surrendered for
registration of transfer or for exchange (the "REGISTRAR"), (ii) Securities may
be presented or surrendered for payment (the "PAYING AGENT"), (iii) Securities
may be presented for exchange (the "EXCHANGE AGENT") and (iv) notices and
demands in respect of the Securities and this Indenture may be served. The
Registrar shall keep a register of the Securities and of their transfer and
exchange. The Issuer, upon notice to the Trustee, may appoint one or more
co-Registrars and one or more additional Paying Agents. The term "PAYING AGENT"
includes any additional Paying Agent. Except as provided herein, the Issuer may
act as Paying Agent, Registrar or co-Registrar.

         (b)      The Issuer shall enter into an appropriate agency agreement
with any Agent not a party to this Indenture, which shall incorporate the
provisions of the TIA. The agreement shall implement the provisions of this
Indenture that relate to such Agent. The Issuer shall notify the Trustee of the
name and address of any such Agent. If the Issuer fails to maintain a Registrar
or Paying Agent, or fails to give the foregoing notice, the Trustee shall act as
such and shall be entitled to appropriate compensation in accordance with
Section 8.07.

         (c)      The Issuer initially appoints the Trustee as Registrar and
Paying Agent until such time as the Trustee has resigned or a successor has been
appointed.

         Section 2.04.  Paying Agent to Hold Assets in Trust. (a) The Issuer
shall require each Paying Agent other than the Trustee to agree in writing that
each Paying Agent shall hold in trust for the benefit of Holders or the Trustee
all assets held by the Paying Agent for the payment of principal of, or
interest on, the Securities, and shall notify the Trustee of any Default by the
Issuer in making any such payment. The Issuer at any time may require a Paying
Agent to distribute all assets held by it to the Trustee and account for any
assets disbursed and the Trustee may at any time during the continuance of any
payment Default, upon written request to a Paying Agent, require such Paying
Agent to distribute all assets held by it to the Trustee and to account for any
assets distributed. Upon distribution to the Trustee of all assets that shall
have been delivered by the Issuer to the Paying Agent (if other than the
Issuer), the Paying Agent shall

                                       20

<PAGE>

have no further liability for such assets. If the Issuer or any of their
Affiliates acts as Paying Agent, it shall, on or before each due date of the
principal of or interest on the Securities, segregate and hold in trust for the
benefit of the Persons entitled thereto a sum sufficient to pay the principal or
interest so becoming due until such sums shall be paid to such Persons or
otherwise disposed of as herein provided and will promptly notify the Trustee of
its action or failure so to act.

         Section 2.05.  Holder Lists. The Trustee shall preserve in as
current a form as is reasonably practicable the most recent list available to it
of the names and addresses of Holders. If the Trustee is not the Registrar, the
Issuer shall furnish to the Trustee before each Interest Record Date and at such
other times as the Trustee may request in writing a list as of such date and in
such form as the Trustee may reasonably require of the names and addresses of
Holders, which list may be conclusively relied upon by the Trustee.

         Section 2.06.  Transfer and Exchange. (a) Subject to Section 2.12
hereof, upon surrender for registration of transfer of any Security, together
with a written instrument of transfer satisfactory to the Registrar duly
executed by the Holder or such Holder's attorney duly authorized in writing, at
the office or agency of the Issuer designated as Registrar or co-registrar
pursuant to Section 2.03, the Issuer shall execute, and the Trustee shall
authenticate and deliver, in the name of the designated transferee or
transferees, one or more new Securities of any authorized denomination or
denominations, of a like aggregate Principal Amount. The Issuer shall not
charge a service charge for any registration of transfer or exchange, but the
Issuer may require payment of a sum sufficient to pay all taxes, assessments or
other governmental charges that may be imposed in connection with the transfer
or exchange of the Securities from the Holder requesting such transfer or
exchange.

         The Issuer shall not be required to make, and the Registrar need not
register, transfers or exchanges of Securities selected for redemption (except,
in the case of Securities to be redeemed in part, the portion thereof not to be
redeemed) or any Securities in respect of which a Purchase Notice or Fundamental
Change Purchase Notice has been given and not withdrawn by the Holder thereof in
accordance with the terms of this Indenture (except, in the case of Securities
to be purchased in part, the portion thereof not to be purchased) or any
Securities for a period of 15 days before the mailing of a notice of redemption
of Securities to be redeemed.

         (b)      Notwithstanding any provision to the contrary herein, so long
as a Global Security remains outstanding and is held by or on behalf of the
Depositary, transfers of a Global Security, in whole or in part, shall be made
only in accordance with Section 2.12 and this Section 2.06(b). Transfers of a

                                       21

<PAGE>

Global Security shall be limited to transfers of such Global Security in whole,
or in part, to nominees of the Depositary or to a successor of the Depositary or
such successor's nominee.

         (c)      Successive registrations and registrations of transfers and
exchanges as aforesaid may be made from time to time as desired, and each such
registration shall be noted on the register for the Securities.

         (d)      Any Registrar appointed pursuant to Section 2.03 hereof shall
provide to the Trustee such information as the Trustee may reasonably require in
connection with the delivery by such Registrar of Securities upon transfer or
exchange of Securities.

         (e)      No Registrar shall be required to make registrations of
transfer or exchange of Securities during any periods designated in the text of
the Securities or in this Indenture as periods during which such registration of
transfers and exchanges need not be made.

         (f)      If Securities are issued upon the transfer, exchange or
replacement of Securities subject to restrictions on transfer and bearing the
legends on the form of Security attached hereto as Exhibit A setting forth such
restrictions (collectively, the "LEGEND"), or if a request is made to remove the
Legend on a Security, the Securities so issued shall bear the Legend, or the
Legend shall not be removed, as the case may be, unless there is delivered to
the Issuer and the Registrar such satisfactory evidence, which shall include an
Opinion of Counsel, as may be reasonably required by the Issuer and the
Registrar, that neither the Legend nor the restrictions on transfer set forth
therein are required to ensure that transfers thereof comply with the provisions
of Rule 144A or Rule 144 under the Securities Act or that such Securities are
not "restricted" within the meaning of Rule 144 under the Securities Act. Upon
(i) provision of such satisfactory evidence, or (ii) notification by the Issuer
to the Trustee and Registrar of the sale of such Security pursuant to a
registration statement that is effective at the time of such sale, the Trustee,
at the written direction of the Issuer, shall authenticate and deliver a
Security that does not bear the Legend. If the Legend is removed from the face
of a Security and the Security is subsequently held by an Affiliate of the
Issuer, the Legend shall be reinstated. Any shares of Common Stock issued upon
exchange of Securities that bear the Legend shall bear a restricted legend
substantially identical to the Legend (except that such Legend shall not refer
to any shares of Common Stock issuable upon exchange of Securities).

         (g)      Nothing in this Indenture or in the Securities shall prohibit
the sale or other transfer of any Securities (including beneficial interests in
Global

                                       22

<PAGE>

Securities) to the Issuer or any of its Subsidiaries, which Securities shall
thereupon be canceled in accordance with Section 2.10 of this Indenture.

         Section 2.07.  Replacement Securities. If (a) any mutilated Security is
surrendered to the Trustee, or (b) the Issuer and the Trustee receive evidence
to their satisfaction of the destruction, loss or theft of any Security, and
there is delivered to the Issuer and the Trustee such security or indemnity as
may be required by them to save each of them harmless, then, in the absence of
notice to the Issuer or the Trustee that such Security has been acquired by a
bona fide purchaser, the Issuer shall execute and upon its written request the
Trustee shall authenticate and deliver, in exchange for any such mutilated
Security or in lieu of any such destroyed, lost or stolen Security, a new
Security of like tenor and Principal Amount, bearing a number not
contemporaneously outstanding.

         In case any such mutilated, destroyed, lost or stolen Security has
become or is about to become due and payable, or is about to be purchased by the
Issuer pursuant to Articles 15 or 16 hereof, the Issuer in its discretion may,
instead of issuing a new Security, pay or purchase such Security, as the case
may be.

         Upon the issuance of any new Securities under this Section, the Issuer
may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and any other
expenses (including the fees and expenses of the Trustee) connected therewith.

         Every new Security issued pursuant to this Section in lieu of any
mutilated, destroyed, lost or stolen Security shall constitute an original
additional contractual obligation of the Issuer, whether or not the mutilated,
destroyed, lost or stolen Security shall be at any time enforceable by anyone,
and shall be entitled to all benefits of this Indenture equally and
proportionately with any and all other Securities duly issued hereunder.

         The provisions of this Section are exclusive and shall preclude (to the
extent lawful) all other rights and remedies with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Securities.

         Section 2.08.  Outstanding Securities; Determinations of Holders'
Actions. Securities outstanding at any time are all the Securities authenticated
by the Trustee except for those canceled by it, those delivered to it for
cancellation, those delivered to it pursuant to Section 2.07 and those described
in this Section 2.08 as not outstanding. A Security does not cease to be
outstanding because the Issuer or an Affiliate thereof holds the Security;
provided, however, that in determining whether the Holders of the requisite
Principal Amount of Securities have given or concurred in any request, demand,
authorization, direction, notice, consent or waiver hereunder, Securities owned
by the Issuer or any other obligor upon the Securities or any Affiliate of the
Issuer or such other obligor shall be

                                       23

<PAGE>

disregarded and deemed not to be outstanding, except that, in determining
whether the Trustee shall be protected in relying upon any such request, demand,
authorization, direction, notice, consent or waiver, only Securities which a
Responsible Officer of the Trustee actually knows to be so owned shall be so
disregarded. Subject to the foregoing, only Securities outstanding at the time
of such determination shall be considered in any such determination (including,
without limitation, determinations pursuant to Articles 4 and 8).

         If a Security is replaced pursuant to Section 2.07, it ceases to be
outstanding unless the Trustee receives proof satisfactory to it that the
replaced Security is held by a bona fide purchaser.

         If the Paying Agent holds, in accordance with this Indenture, on a
Redemption Date, or on the Business Day following a Purchase Date or a
Fundamental Change Purchase Date, or on the Stated Maturity Date, money or
securities, if permitted hereunder, sufficient to pay Securities payable on that
date, then immediately after such Redemption Date, Purchase Date, Fundamental
Change Purchase Date or Stated Maturity Date, as the case may be, such
Securities shall cease to be outstanding and interest (including Contingent
Interest and Liquidated Damages, if any) on such Securities shall cease to
accrue; provided, that if such Securities are to be redeemed, notice of such
redemption has been duly given pursuant to this Indenture or provision therefor
satisfactory to the Trustee has been made.

         If a Security is exchanged in accordance with Article 14, then from and
after the time of exchange on the Exchange Date, such Security shall cease to be
outstanding and interest (including Contingent Interest, if any) shall cease to
accrue on such Security.

         Section 2.09.  Temporary Securities. Pending the preparation of
definitive Securities, the Issuer may execute, and upon Issuer Order the Trustee
shall authenticate and deliver, temporary Securities which are printed,
lithographed, typewritten, mimeographed or otherwise produced, in any authorized
denomination, substantially of the tenor of the definitive Securities in lieu of
which they are issued and with such appropriate insertions, omissions,
substitutions and other variations as the officers executing such Securities may
determine, as conclusively evidenced by their execution of such Securities.

         If temporary Securities are issued, the Issuer will cause definitive
Securities to be prepared without unreasonable delay. After the preparation of
definitive Securities, the temporary Securities shall be exchangeable for
definitive Securities upon surrender of the temporary Securities at the office
or agency of the Issuer designated for such purpose pursuant to Section 2.03,
without charge to the Holder. Upon surrender for cancellation of any one or

                                       24

<PAGE>

more temporary Securities the Issuer shall execute and the Trustee shall
authenticate and deliver in exchange therefor a like Principal Amount of
definitive Securities of authorized denominations. Until so exchanged the
temporary Securities shall in all respects be entitled to the same benefits
under this Indenture as definitive Securities.

         Section 2.10.  Cancellation. All Securities surrendered for
payment, purchase by the Issuer pursuant to Article 15, Article 16 and Section
14.04, exchange, redemption or registration of transfer or exchange shall, if
surrendered to any person other than the Trustee, be delivered to the Trustee
and shall be promptly canceled by it. The Issuer may at any time deliver to the
Trustee for cancellation any Securities previously authenticated and delivered
hereunder which the Issuer may have acquired in any manner whatsoever, and all
Securities so delivered shall be promptly canceled by the Trustee. The Issuer
may not issue new Securities to replace Securities it has paid or delivered to
the Trustee for cancellation or that any Holder has exchanged pursuant to
Article 14. No Securities shall be authenticated in lieu of or in exchange for
any Securities canceled as provided in this Section, except as expressly
permitted by this Indenture. All canceled Securities held by the Trustee shall
be disposed of by the Trustee in accordance with its customary practice.

         Section 2.11.  Persons Deemed Owners. Prior to due presentment of
a Security for registration of transfer, the Issuer, the Trustee and any agent
of the Issuer or the Trustee may treat the Person in whose name such Security is
registered as the owner of such Security for the purpose of receiving payment of
principal of the Security or the payment of any Redemption Price, Purchase Price
or Fundamental Change Purchase Price in respect thereof, and interest thereon,
for the purpose of exchange and for all other purposes whatsoever, whether or
not such Security be overdue, and neither the Issuer, the Trustee nor any agent
of the Issuer or the Trustee shall be affected by notice to the contrary.

         Section 2.12.  Global Securities.

         (a)      Notwithstanding any other provisions of this Indenture or the
Securities, transfers of a Global Security, in whole or in part, shall be made
only in accordance with Section 2.06 and this Section 2.12. A Global Security
may not be transferred, in whole or in part, to any Person other than the
Depositary or a nominee or any successor thereof, and no such transfer to any
such other Person may be registered; provided that this clause (a) shall not
prohibit any transfer of a Security that is issued in exchange for a Global
Security but is not itself a Global Security. No transfer of a Security to any
Person shall be effective under this Indenture unless and until such Security
has been registered in the name of such Person.

                                       25

<PAGE>

         (b)      Notwithstanding any other provisions of this Indenture or the
Securities, a Global Security shall not be exchanged in whole or in part for a
Security registered in the name of any Person other than the Depositary or one
or more nominees thereof; provided that a Global Security may be exchanged for
Securities registered in the names of any person designated by the Depositary in
the event that (i) the Depositary has notified the Issuer that it is unwilling
or unable to continue as Depositary for such Global Security and a successor
Depositary is not appointed by the Issuer within 90 days, (ii) the Issuer
decides to discontinue the use of the system of book-entry transfer through the
Depositary (or any successor Depositary) or (iii) an Event of Default has
occurred and is continuing with respect to the Securities. Any Global Security
exchanged pursuant to clause (i) above shall be so exchanged in whole and not in
part, and any Global Security exchanged pursuant to clause (iii) above may be
exchanged in whole or from time to time in part as directed by the Depositary.
Any Security issued in exchange for a Global Security or any portion thereof
shall be a Global Security; provided that any such Security so issued that is
registered in the name of a Person other than the Depositary or a nominee
thereof shall not be a Global Security.

         (c)      Securities issued in exchange for a Global Security or any
portion thereof shall be issued in definitive, fully registered form, without
interest coupons, shall have an aggregate Principal Amount equal to that of such
Global Security or portion thereof to be so exchanged, shall be registered in
such names and be in such authorized denominations as the Depositary shall
designate and shall bear the applicable Legends provided for herein. Any Global
Security to be exchanged in whole shall be surrendered by the Depositary to the
Trustee or the Registrar. With regard to any Global Security to be exchanged in
part, either such Global Security shall be so surrendered for exchange or, if
the Trustee is acting as custodian for the Depositary or its nominee with
respect to such Global Security, the Principal Amount thereof shall be reduced,
by an amount equal to the portion thereof to be so exchanged, by means of an
appropriate adjustment made on the records of the Trustee. Upon any such
surrender or adjustment, the Trustee shall authenticate and deliver the Security
issuable on such exchange to or upon the order of the Depositary or an
authorized representative thereof.

         (d)      Subject to the provisions of Section 2.12(f) below, the
registered Holder may grant proxies and otherwise authorize any Person,
including Agent Members (as defined below) and persons that may hold interests
through Agent Members, to take any action which a Holder is entitled to take
under this Indenture or the Securities.

         (e)      In the event of the occurrence of any of the events specified
in Section 2.12(b) above, the Issuer will promptly make available to the Trustee
a

                                       26

<PAGE>

reasonable supply of certificated Securities in definitive, fully registered
form, without interest coupons.

         (f)      Neither any members of, or participants in, the Depositary
(collectively, the "AGENT MEMBERS") nor any other Persons on whose behalf Agent
Members may act shall have any rights under this Indenture with respect to any
Global Security registered in the name of the Depositary or any nominee thereof,
or under any such Global Security, and the Depositary or such nominee, as the
case may be, may be treated by the Issuer, the Trustee and any agent of the
Issuer or the Trustee as the absolute owner and holder of such Global Security
for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall
prevent the Issuer or the Trustee or any agent of the Issuer or the Trustee from
giving effect to any written certification, proxy or other authorization
furnished by the Depositary or such nominee, as the case may be, or impair, as
between the Depositary, its Agent Members and any other person on whose behalf
an Agent Member may act, the operation of customary practices of such Persons
governing the exercise of the rights of a holder of any Security.

         Section 2.13.  Legends.

         (a)      Subject to the succeeding paragraph, every Security shall be
subject to the restrictions on transfer provided in the Legend including the
delivery of a certification or an Opinion of Counsel as set forth in the Legend,
if so requested by the Issuer or the Registrar.

         (b)      The restrictions imposed by the Legend upon the
transferability of any Security shall cease and terminate when such Security has
been sold pursuant to an effective registration statement under the Securities
Act or transferred in compliance with Rule 144 under the Securities Act (or any
successor provision thereto) or, if earlier, upon the expiration of the holding
period applicable to sales thereof under Rule 144(k) under the Securities Act
(or any successor provision). Any Security as to which such restrictions on
transfer shall have expired in accordance with their terms or shall have
terminated may, upon a surrender of such Security for exchange to the Registrar
in accordance with the provisions of this Section 2.13 (accompanied, in the
event that such restrictions on transfer have terminated by reason of a transfer
in compliance with Rule 144 or any successor provision, by an opinion of counsel
having substantial experience in practice under the Securities Act and otherwise
reasonably acceptable to the Issuer, addressed to the Issuer and the Registrar
and in form acceptable to the Issuer, to the effect that the transfer of such
Security has been made in compliance with Rule 144 or such successor provision),
be exchanged for a new Security, of like tenor and aggregate Principal Amount,
which shall not bear the restrictive Legend. The Issuer shall inform the Trustee
of the effective date of any registration statement registering the Securities
under

                                       27

<PAGE>

the Securities Act. The Trustee and the Registrar shall not be liable for any
action taken or omitted to be taken by it in good faith in accordance with the
aforementioned opinion of counsel or registration statement.

         (c)      As used in the preceding two paragraphs of this Section 2.13,
the term "transfer" encompasses any sale, pledge, transfer, hypothecation or
other disposition of any Security.

         Section 2.14.  Payment of Interest; Interest Rights Preserved.
Interest, including any Contingent Interest, on any Security that is payable,
and is punctually paid or duly provided for, on any Interest Payment Date shall
be paid to the Person in whose name that Security (or one or more Predecessor
Securities) is registered at the close of business on the Regular Record Date
for such interest at the office or agency of the Issuer maintained for such
purpose pursuant to Section 12.02. However, the Issuer may make such interest
payments by check payable to or upon the written order of the Person entitled
thereto pursuant to Section 19.03, to the address of such Person as it appears
on the Security Register; provided that payment by wire transfer of immediately
available funds will be required with respect to principal of and interest
(including Contingent Interest, if any) on all Global Securities and all
Securities of Holders of more than $25,000,000 aggregate Principal Amount of
Securities that have requested such method of payment and provided wire transfer
instructions to the Issuer or the Paying Agent.

         Any interest or Contingent Interest on any Security of which is payable
but is not punctually paid or duly provided for on any Interest Payment Date
(herein called "DEFAULTED INTEREST") shall forthwith cease to be payable to the
Holder on the relevant Regular Record Date by virtue of having been such Holder,
and such Defaulted Interest may be paid by the Issuer, at its election in each
case, as provided in clause (a) or (b) below:

         (a)      The Issuer may elect to make payment of any Defaulted Interest
to the Persons in whose names the Securities (or Predecessor Securities) are
registered at the close of business on a Special Record Date for the payment of
such Defaulted Interest, which shall be fixed in the following manner. The
Issuer shall notify the Trustee in writing of the amount of Defaulted Interest
proposed to be paid on each Security and the date of the proposed payment, and
at the same time the Issuer shall deposit with the Trustee an amount of money
equal to the aggregate amount proposed to be paid in respect of such Defaulted
Interest or shall make arrangements satisfactory to the Trustee for such deposit
on or prior to the date of the proposed payment, such money when deposited to be
held in trust for the benefit of the Persons entitled to such Defaulted Interest
as in this clause provided. Thereupon the Trustee shall fix a Special Record
Date for the payment of such Defaulted Interest which shall be not more than 15
days and not

                                       28

<PAGE>

less than 10 days prior to the date of the proposed payment and not less than 10
days after the receipt by the Trustee of the notice of the proposed payment. The
Trustee shall promptly notify the Issuer of such Special Record Date and, in the
name and at the expense of the Issuer, shall cause notice of the proposed
payment of such Defaulted Interest and the Special Record Date therefor to be
mailed, first-class postage prepaid, to each Holder of Securities at his address
as it appears in the Security Register, not less than 10 days prior to such
Special Record Date. Notice of the proposed payment of such Defaulted Interest
and the Special Record Date therefor having been so mailed, such Defaulted
Interest shall be paid to the Persons in whose names the Securities (or
Predecessor Securities) are registered at the close of business on such Special
Record Date and shall no longer be payable pursuant to the following clause (b).

         (b)      The Issuer may make payment of any Defaulted Interest on the
Securities in any other lawful manner not inconsistent with the requirements of
any securities exchange on which such Securities may be listed, and upon such
notice as may be required by such exchange, if, after notice given by the Issuer
to the Trustee of the proposed payment pursuant to this clause, such manner of
payment shall be deemed practicable by the Trustee.

         On exchange of a Holder's Securities, such Holder shall not receive any
cash payment of interest. Except as set forth in the next succeeding paragraph,
the Issuer's delivery to a Holder of the full number of shares of Common Stock
into which a Security is exchangeable, together with any cash payment for such
Holder's fractional shares, or cash or a combination of cash and Common Stock in
lieu thereof, shall be deemed to satisfy the Issuer's obligation to pay the
Principal Amount of the Security and to satisfy the Issuer's obligation to pay
accrued but unpaid interest (including Contingent Interest, if any) attributable
to the period from the most recent Interest Payment Date through the Exchange
Date.

         Notwithstanding the above, if any Securities are exchanged during the
period from the close of business on any Regular Record Date immediately
preceding any Interest Payment Date to the close of business on the Business Day
immediately preceding such Interest Payment Date, such Securities shall be
accompanied by payment to the Issuer or its order, in New York Clearing House
funds or other funds acceptable to the Issuer, of an amount equal to the
interest payable on such Interest Payment Date with respect to the Principal
Amount of Securities or portions thereof being surrendered for exchange;
provided that no such payment need be made (1) if the Issuer has specified a
Redemption Date under Article 13 that occurs during the period from the close of
business on a Regular Record Date to the close of business on the Business Day
immediately preceding the Interest Payment Date to which such Regular Record
Date relates, (2) if the Issuer has specified a Fundamental Change Purchase Date
during such

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<PAGE>

period or (3) to the extent of overdue interest or overdue Contingent Interest,
any overdue interest or overdue Contingent Interest exists on the Exchange Date
with respect to the Securities exchanged.

         Subject to the foregoing provisions of this Section, each Security
delivered under this Indenture upon registration of transfer of or in exchange
for or in lieu of any other Security shall carry the rights to interest accrued
and unpaid, and to accrue, that were carried by such other Security.

         Section 2.15.  CUSIP Numbers. The Issuer in issuing the Securities
may use "CUSIP" numbers (if then generally in use), and, if so, the Trustee
shall use "CUSIP" numbers in notices of redemption as a convenience to Holders;
provided that any such notice may state that no representation is made as to the
correctness of such numbers either as printed on the Securities or as contained
in any notice of a redemption and that reliance may be placed only on the other
identification numbers printed on the Securities, and any such redemption shall
not be affected by any defect in or omission of such numbers. The Issuer will
promptly notify the Trustee of any change in the CUSIP numbers.

         Section 2.16.  Calculation of Tax Original Issue Discount. The
Issuer agrees, and by acceptance of a beneficial interest in a Security each
Holder and any beneficial owner of a Security shall be deemed to agree, to
treat, for United States federal income tax purposes, the Securities as debt
instruments that are subject to Treasury Regulation Section 1.1275-4(b). For
United States federal income tax purposes, the Issuer agrees, and by acceptance
of a beneficial interest in a Security each Holder and any beneficial owner of a
Security shall be deemed to agree, to treat the fair market value of the Common
Stock received upon the exchange of a Security as a contingent payment for
purposes of Treasury Regulation Section 1.1275-4(b) and to accrue interest with
respect to outstanding Securities as original issue discount for United States
federal income tax purposes (i.e., Tax Original Issue Discount) according to the
"noncontingent bond method," set forth in Section 1.1275-4(b) of the Treasury
Regulations, using the comparable yield of 8.25% compounded semi-annually and
using the projected payment schedule determined by the Issuer. Holders or
beneficial owners may obtain a copy of the projected payment schedule by
contacting the Issuer: LIN Television Corporation, Four Richmond Square, Suite
200, Providence, RI 02906, Attention: Treasurer.

         The Issuer acknowledges and agrees, and by acceptance of a beneficial
interest in a Security each Holder and any beneficial owner of a Security shall
be deemed to acknowledge and agree, that (i) the comparable yield means the
annual yield the Issuer would pay, as of the Issue Date, on a noncontingent,
non-exchangeable, fixed-rate debt instrument with terms and conditions otherwise
similar to those of the Securities and (ii) the comparable yield and the
schedule

                                       30

<PAGE>

of projected payments that a Holder or beneficial owner may obtain as described
above do not constitute a representation by the Issuer regarding the actual
amounts that will be paid on the Securities or the value of the Common Stock
into which the Securities may be exchanged.

                                    ARTICLE 3
                           SATISFACTION AND DISCHARGE

         Section 3.01.  Discharge of Liability on Securities. When (i) the
Issuer delivers to the Trustee or any Paying Agent all outstanding Securities
(other than Securities replaced pursuant to Section 2.07 of the Indenture) for
cancellation or (ii) all outstanding Securities have become due and payable,
whether on the Stated Maturity Date, any Redemption Date, any Purchase Date, any
Fundamental Change Purchase Date, or upon exchange or otherwise, and the Issuer
deposits with the Trustee, any Paying Agent or the Exchange Agent, if
applicable, cash or, if expressly permitted by the terms of the Securities,
Common Stock sufficient to pay all amounts due and owing on all outstanding
Securities (other than Securities replaced pursuant to Section 2.07), and if in
either case the Issuer pays all other sums payable hereunder by the Issuer, then
this Indenture shall, subject to Section 8.07, cease to be of further effect,
except for the indemnification of the Trustee, which shall survive such
satisfaction and discharge. The Trustee shall join in the execution of a
document prepared by the Issuer acknowledging satisfaction and discharge of this
Indenture on demand of the Issuer accompanied by an Officers' Certificate and
Opinion of Counsel and at the reasonable cost and expense of the Issuer.

         Section 3.02.  Repayment of Moneys Held by Trustee. The Trustee
and the Paying Agent shall return to the Issuer any cash that remains unclaimed
for two years after the date upon which the principal of or interest on such
Security shall have become due and payable, subject to applicable unclaimed
property law, together with interest, if any, thereon held by them for the
payment of the principal of or interest on such Security, provided, however,
that to the extent that the aggregate amount of cash or Common Stock deposited
by the Issuer exceeds the aggregate principal and interest due on the Securities
or portions thereof which the Issuer is obligated to purchase as of the relevant
date, then promptly after the Business Day following such date, the Trustee or
the Paying Agent, as applicable, shall return any such excess to the Issuer.
Thereafter, any Holder entitled to payment must look to the Issuer for payment
as general creditors, unless an applicable abandoned property law designates
another Person.

                                       31

<PAGE>

                                    ARTICLE 4
                              DEFAULT AND REMEDIES

         Section 4.01.  Events of Default. Each of the following shall be
an "EVENT OF DEFAULT" for purposes of this Indenture:

         (a)      the failure to pay interest on any Security when the same
becomes due and payable and the Default continues for a period of 30 days
(whether or not such payment is prohibited by Article 5);

         (b)      the failure to pay principal of any Security when such
principal becomes due and payable, at maturity, upon redemption, repurchase, a
Fundamental Change or otherwise (whether or not such payment is prohibited by
Article 5);

         (c)      a default in the observance or performance of any other
covenant or agreement contained in the Securities or this Indenture, which
default continues for a period of 30 days after the Issuer receives written
notice thereof specifying the default from the Trustee or Holders of at least
25% in aggregate Principal Amount of outstanding Securities;

         (d)      the failure to pay at the final stated maturity (giving effect
to any extensions thereof) the principal amount of any Indebtedness of the
Issuer or any Restricted Subsidiary of the Issuer, or the acceleration of the
final stated maturity of any such Indebtedness, if the aggregate principal
amount of such Indebtedness, together with the aggregate principal amount of any
other such Indebtedness in default for failure to pay principal at the final
stated maturity (giving effect to any extensions thereof) or which has been
accelerated, aggregates $10,000,000 or more at any time in each case after a
10-day period during which such default shall not have been cured or such
acceleration rescinded;

         (e)      one or more judgments in an aggregate amount in excess of
$15,000,000 (which are not covered by insurance as to which the insurer has not
disclaimed coverage) being rendered against the Issuer or any of its Significant
Restricted Subsidiaries and such judgment or judgments remain undischarged or
unstayed for a period of 60 days after such judgment or judgments become final
and nonappealable;

         (f)      the Issuer, LIN TV or any Significant Restricted Subsidiaries
(or one or more Restricted Subsidiaries that, taken together would constitute a
Significant Restricted Subsidiary) of the Issuer pursuant to or within the
meaning of any Bankruptcy Law: (i) admits in writing its inability to pay its
debts generally as they become due; (ii) commences a voluntary case or
proceeding; (iii) consents to the entry of an order for relief against it in an

                                       32

<PAGE>

involuntary case or proceeding; (iv) consents or acquiesces in the institution
of a bankruptcy or insolvency proceeding against it; (v) consents to the
appointment of a Custodian of it or for all or substantially all of its
property; or (vi) makes a general assignment for the benefit of its creditors,
or any of them takes any action to authorize or effect any of the foregoing;

         (g)      a court of competent jurisdiction enters an order or decree
under any Bankruptcy Law that: (i) is for relief against the Issuer or LIN TV or
any Significant Restricted Subsidiary (or one or more Restricted Subsidiaries
that, taken together would constitute a Significant Restricted Subsidiary) of
the Issuer in an involuntary case or proceeding; (ii) appoints a Custodian of
the Issuer or LIN TV or any Significant Restricted Subsidiary (or one or more
Restricted Subsidiaries that, taken together would constitute a Significant
Restricted Subsidiary) of the Issuer for all or substantially all of its
property; or (iii) orders the liquidation of the Issuer or LIN TV or any
Significant Restricted Subsidiary (or one or more Restricted Subsidiaries that,
taken together would constitute a Significant Restricted Subsidiary) of the
Issuer; and in each case the order or decree remains unstayed and in effect for
60 days; provided, however, that if the entry of such order or decree is
appealed and dismissed on appeal, then the Event of Default hereunder by reason
of the entry of such order or decree shall be deemed to have been cured; or

         (h)      except as permitted by this Indenture, any Affiliate Guarantee
shall be held in a judicial proceeding to be unenforceable or invalid or shall
cease for any reason to be in full force and effect or any Guarantor, or any
Person acting on behalf of any Guarantor, shall deny or disaffirm its
obligations under its Affiliate Guarantee.

         Section 4.02.  Acceleration. If an Event of Default with respect
to the Securities (other than an Event of Default specified in Section 4.01(f)
or 4.01(g)) occurs and is continuing, the Trustee may, or the Trustee upon the
request of Holders of 25% in Principal Amount of the outstanding Securities
shall, or the Holders of at least 25% in aggregate Principal Amount of the
outstanding Securities may declare the principal of all the Securities, together
with all accrued and unpaid interest and premium, if any, to be due and payable
by notice in writing to the Issuer and the Trustee specifying the respective
Event of Default and that it is a "notice of acceleration" (the "ACCELERATION
NOTICE"), and the same (i) shall become immediately due and payable or (ii) if
there are any amounts outstanding under the Senior Credit Facilities, will
become due and payable upon the first to occur of an acceleration under the
Senior Credit Facilities or five Business Days after receipt by the Issuer and
the agent under the Senior Credit Facilities of such Acceleration Notice (unless
all Events of Default specified in such Acceleration Notice have been cured or
waived).

                                       33

<PAGE>

         If an Event of Default specified in Section 4.01(f) or 4.01(g) occurs,
all unpaid principal of and accrued interest on all outstanding Securities shall
ipso facto become immediately due and payable without any declaration or other
act on the part of the Trustee or any Holder.

         At any time after such declaration with respect to the Securities, the
Holders of a majority in Principal Amount of Securities then outstanding (by
notice to the Trustee) may rescind and cancel such declaration and its
consequences if (i) the rescission would not conflict with any judgment or
decree of a court of competent jurisdiction, (ii) all existing Defaults and
Events of Default have been cured or waived except nonpayment of principal of or
interest on the Securities that has become due solely by such declaration of
acceleration, (iii) to the extent the payment of such interest is lawful,
interest (at the same rate specified in the Securities) on overdue installments
of interest and overdue payments of principal, which has become due otherwise
than by such declaration of acceleration has been paid, (iv) the Issuer has paid
the Trustee its reasonable compensation and reimbursed the Trustee for its
reasonable expenses, disbursements and advances and (v) in the event of the cure
or waiver of a Default or Event of Default of the type described in Section
4.01(f) or 4.01(g), the Trustee has received an Officers' Certificate and
Opinion of Counsel that such Default or Event of Default has been cured or
waived. The Holders of a majority in Principal Amount of the Securities may
waive any existing Default or Event of Default under this Indenture, and its
consequences, except a default in the payment of the principal of or interest on
any Securities. No such rescission shall affect any subsequent Default or impair
any right consequent thereto.

         Section 4.03.  Other Remedies. If an Event of Default occurs and
is continuing, the Trustee may pursue any available remedy by proceeding at law
or in equity to collect the payment of principal of or interest on the
Securities or to enforce the performance of any provision of the Securities or
this Indenture.

         The Trustee may maintain a proceeding even if it does not possess any
of the Securities or does not produce any of them in the proceeding. A delay or
omission by the Trustee or any Holder in exercising any right or remedy maturing
upon an Event of Default shall not impair the right or remedy or constitute a
waiver of or acquiescence in the Event of Default. No remedy is exclusive of any
other remedy. All available remedies are cumulative to the extent permitted by
law.

         Section 4.04.  Waiver of Past Default. Subject to Sections 4.07
and 11.02, prior to the declaration of acceleration of the Securities, the
Holders of not less than a majority in aggregate Principal Amount of the
outstanding Securities by written notice to the Trustee may waive an existing
Default or

                                       34

<PAGE>

Event of Default and its consequences, except a Default in the payment of
principal of or interest on any Security as specified in Section 4.01(a) and (b)
or a Default in respect of any term or provision of this Indenture that may not
be amended or modified without the consent of each Holder affected as provided
in Section 11.02. The Issuer shall deliver to the Trustee an Officers'
Certificate stating that the requisite percentage of Holders have consented to
such waiver and attaching copies of such consents. In case of any such waiver,
the Issuer, the Trustee and the Holders shall be restored to their former
positions and rights hereunder and under the Securities, respectively. This
paragraph of this Section 4.04 shall be in lieu of Section 316(a)(1)(B) of the
TIA and such Section 316(a)(1)(B) of the TIA is hereby expressly excluded from
this Indenture and the Securities, as permitted by the TIA.

         Upon any such waiver, such Default shall cease to exist and be deemed
to have been cured and not to have occurred, and any Event of Default arising
therefrom shall be deemed to have been cured and not to have occurred for every
purpose of this Indenture and the Securities, but no such waiver shall extend to
any subsequent or other Default or Event of Default or impair any right
consequent thereon.

         Section 4.05. Control by Majority. Subject to Section 2.08, the Holders
of a majority in Principal Amount of the outstanding Securities may direct the
time, method and place of conducting any proceeding for any remedy available to
the Trustee or exercising any trust or power conferred on it. However, the
Trustee may refuse to follow any direction that conflicts with law or this
Indenture that the Trustee determines may be unduly prejudicial to the rights of
another Holder, it being understood that the Trustee shall have no duty (subject
to Section 8.01) to ascertain whether or not such actions or forebearances are
unduly prejudicial to such Holders, or that may involve the Trustee in personal
liability; provided, however, that the Trustee may take any other action deemed
proper by the Trustee which is not inconsistent with such direction. In the
event the Trustee takes any action or follows any direction pursuant to this
Indenture, the Trustee shall be entitled to indemnification satisfactory to it
in its sole discretion against any loss or expense caused by taking such action
or following such direction. This Section 4.05 shall be in lieu of Section
316(a)(1)(A) of the TIA, and such Section 316(a)(1)(A) of the TIA is hereby
expressly excluded from this Indenture and the Securities, as permitted by the
TIA.

         Section 4.06.  Limitation on Suits. A Holder may not pursue any
remedy with respect to this Indenture or the Securities unless:

         (a)      the Holder gives to the Trustee written notice of a continuing
Event of Default;

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<PAGE>

         (b)      the Holders of at least 25% in aggregate Principal Amount of
the outstanding Securities make a written request to the Trustee to pursue a
remedy;

         (c)      such Holder or Holders offer and, if requested, provide to the
Trustee indemnity satisfactory to the Trustee against any loss, liability or
expense;

         (d)      the Trustee does not comply with the request within 60 days
after receipt of the request and the offer and, if requested, the provision of
indemnity; and

         (e)      during such 60-day period the Holders of a majority in
Principal Amount of the outstanding Securities do not give the Trustee a
direction which, in the opinion of the Trustee, is inconsistent with the
request.

A Holder may not use this Indenture to prejudice the rights of another Holder or
to obtain a preference or priority over such other Holder.

         Section 4.07. Rights of Holders to Receive Payment. Notwithstanding any
other provision of this Indenture, the right of any Holder to receive payment of
principal of or interest on a Security, on or after the respective due dates
expressed in the Security, or to bring suit for the enforcement of any such
payment on or after such respective dates, shall not be impaired or affected
without the consent of such Holder.

         Section 4.08. Collection Suit by Trustee. If an Event of Default in
payment of principal or interest specified in Section 4.01(a) or (b) occurs and
is continuing, the Trustee may recover judgment in its own name and as trustee
of an express trust against the Issuer or any other obligor on the Securities
for the whole amount of principal and accrued interest remaining unpaid,
together with interest overdue on principal and to the extent that payment of
such interest is lawful, interest on overdue installments of interest, in each
case at the rate per annum borne by the Securities and such further amount as
shall be sufficient to cover the costs and expenses of collection, including the
reasonable compensation, expenses, disbursements and advances of the Trustee,
its agents and counsel.

         Section 4.09. Trustee May File Proofs of Claim. The Trustee may file
such proofs of claim and other papers or documents as may be necessary or
advisable in order to have the claims of the Trustee (including any claim for
the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel) and the Holders allowed in any judicial
proceedings relative to the Issuer (or any other obligor upon the Securities),
its creditors or its property and shall be entitled and empowered to collect and
receive any monies or other property payable or deliverable on any such claims
and to distribute the

                                       36

<PAGE>

same, and any Custodian in any such judicial proceedings is hereby authorized by
each Holder to make such payments to the Trustee and, in the event that the
Trustee shall consent to the making of such payments directly to the Holders, to
pay to the Trustee any amount due to it for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agent and counsel, and
any other amounts due the Trustee under Section 8.07. Nothing herein contained
shall be deemed to authorize the Trustee to authorize or consent to or accept or
adopt on behalf of any Holder any plan of reorganization, arrangement,
adjustment or composition affecting the Securities or the rights of any Holder
thereof, or to authorize the Trustee to vote in respect of the claim of any
Holder in any such proceeding; provided, however, that the Trustee may, on
behalf of the Holders, vote for the election of a trustee in bankruptcy or
similar official and may be a member of the creditors' committee.

         Section 4.10. Priorities. If the Trustee collects any money or property
pursuant to this Article 4, it shall pay out the money or property in the
following order:

         First: to the Trustee for amounts due under Section 8.07;

         Second: to Holders for amounts due and unpaid on the Securities for
principal and interest, ratably, without preference or priority of any kind,
according to the amounts due and payable on the Securities for principal and
interest, respectively; and

         Third: to the Issuer.

The Trustee, upon prior written notice to the Issuer, may fix a record date and
payment date for any payment to the Holders pursuant to this Section 4.10.

         Section 4.11. Undertaking for Costs. In any suit for the enforcement of
any right or remedy under this Indenture or in any suit against the Trustee for
any action taken or omitted by it as Trustee, a court in its discretion may
require the filing by any party litigant in the suit of an undertaking to pay
the costs of the suit, and the court in its discretion may assess reasonable
costs, including reasonable attorneys' fees and expenses, against any party
litigant in the suit, having due regard to the merits and good faith of the
claims or defenses made by the party litigant. This Section 4.11 shall not apply
to a suit by the Trustee, a suit by a Holder or group of Holders of more than
10% in aggregate Principal Amount of the outstanding Securities, or to any suit
instituted by any Holder for the enforcement or the payment of the principal or
interest on any Securities on or after the respective due dates expressed in the
Security.

                                       37

<PAGE>

                                    ARTICLE 5
                                  SUBORDINATION

         Section 5.01. Agreement to Subordinate. The Issuer agrees, and each
Holder by accepting any Security agrees, that the Indebtedness evidenced by the
Securities is subordinated in right of payment, to the extent and in the manner
provided in this Article 5, to the payment when due of all Senior Indebtedness
of the Issuer and that such subordination is for the benefit of and enforceable
by the holders of Senior Indebtedness. The Securities shall in all respects rank
pari passu with all other Senior Subordinated Indebtedness of the Issuer, and
only Indebtedness of the Issuer which is Senior Indebtedness will rank senior to
the Securities in accordance with the provisions set forth herein. Unsecured
Indebtedness is not deemed to be subordinate or junior to Secured Indebtedness
merely because it is unsecured, nor is any Indebtedness deemed to be subordinate
or junior to other Indebtedness merely because it matures after such other
Indebtedness. Secured Indebtedness is not deemed to be Senior Indebtedness
merely because it is secured.

         Section 5.02. Liquidation, Dissolution, Bankruptcy. Upon any payment or
distribution of the assets of the Issuer upon a total or partial liquidation or
dissolution or reorganization or bankruptcy of or similar proceeding relating to
the Issuer or its property:

         (a)      holders of Senior Indebtedness of the Issuer shall be entitled
to receive payment in full in cash or Cash Equivalents of all Senior
Indebtedness of the Issuer before holders of Securities shall be entitled to
receive any payment of principal of or interest on or other amounts with respect
to the Securities from the Issuer; and

         (b)      until the Senior Indebtedness of the Issuer is paid in full,
in cash or Cash Equivalents, any payment or distribution to which Holders would
be entitled but for the provisions of this Article 5 shall be made to holders of
Senior Indebtedness as their interests may appear.

         Section 5.03. Default on Senior Indebtedness. The Issuer may not pay
the principal of, premium (if any), or interest on, and other obligations with
respect to, the Securities or repurchase, redeem or otherwise retire any
Securities (collectively, "PAY THE SECURITIES") if (i) any Senior Indebtedness
is not paid when due or (ii) any other default on Senior Indebtedness occurs and
the maturity of such Senior Indebtedness is accelerated in accordance with its
terms unless, in either case, (x) the default has been cured or waived or is no
longer continuing and/or any such acceleration has been rescinded or (y) such
Senior Indebtedness has been paid in full; provided, however, that the Issuer
may pay the Securities, subject to the provisions of Section 5.02, without
regard to the

                                       38

<PAGE>

foregoing if the Issuer and the Trustee receive written notice approving such
payment from the Representatives of the Senior Indebtedness with respect to
which either of the events set forth in clause (i) or (ii) of this sentence has
occurred or is continuing. During the continuance of any default (other than a
default described in clause (i) or (ii) of the preceding sentence) with respect
to any Designated Senior Indebtedness pursuant to which the maturity thereof may
be accelerated immediately without further notice (except such notice as may be
required to effect such acceleration) or the expiration of any applicable grace
periods, the Issuer may not pay the Securities (except (i) in Qualified Capital
Stock issued by the Issuer to pay interest on the Securities or issued in
exchange for the Securities, (ii) in securities substantially identical to the
Securities issued by the Issuer in payment of interest accrued thereon or (iii)
in securities issued by the Issuer which are subordinated to the Senior
Indebtedness at least to the same extent as the Securities and having a Weighted
Average Life to Maturity at least equal to the remaining Weighted Average Life
to Maturity of the Securities) for a period (a "PAYMENT BLOCKAGE PERIOD")
commencing upon the receipt by the Trustee (with a copy to the Issuer) of
written notice (a "BLOCKAGE NOTICE") of such default from the Representative of
the holders of such Designated Senior Indebtedness specifying an election to
effect a Payment Blockage Period and ending 179 days thereafter (or earlier if
such Payment Blockage Period is terminated (i) by written notice to the Trustee
and the Issuer from the Person or Persons who gave such Blockage Notice, (ii)
because the default giving rise to such Blockage Notice has been cured, waived
or is no longer continuing or (iii) because such Designated Senior Indebtedness
has been repaid in full). Notwithstanding the provisions of the immediately
preceding sentence, but subject to the provisions of the first sentence of this
Section 5.03 and the provisions of Section 5.02, the Issuer may resume payments
on the Securities after the end of such Payment Blockage Period. Not more than
one Blockage Notice may be given, and not more than one Payment Blockage Period
may occur, in any consecutive 360-day period, irrespective of the number of
defaults with respect to Designated Senior Indebtedness during such period.
However, if any Blockage Notice within such 360-day period is given by or on
behalf of any holders of Designated Senior Indebtedness (other than the agent
under the Senior Credit Facilities), the agent under the Senior Credit
Facilities may give another Blockage Notice within such period. In no event,
however, may the total number of days during which any Payment Blockage Period
or Payment Blockage Periods are in effect exceed 179 days in the aggregate
during any 360 consecutive day period. No nonpayment default that existed or was
continuing on the date of delivery of any Blockage Notice to the Trustee shall
be, or be made, the basis for a subsequent Blockage Notice unless such default
shall have been cured or waived for a period of not less than 90 consecutive
days.

                                       39

<PAGE>

         Section 5.04. Acceleration of Payment of Securities. If payment of the
Securities is accelerated because of an Event of Default, the Issuer or the
Trustee shall promptly notify the holders of the Representative (if any) of any
issue of Designated Senior Indebtedness which is then outstanding; provided,
however, that the Issuer and the Trustee shall be obligated to notify such a
Representative (other than with respect to the Senior Credit Facilities) only if
such Representative has delivered or caused to be delivered an address for the
service of such a notice to the Issuer and the Trustee (and the Issuer and the
Trustee shall be obligated only to deliver the notice to the address so
specified). If a notice is required pursuant to the immediately preceding
sentence, the Issuer may not pay the Securities (except payment (i) in Qualified
Capital Stock issued by the Issuer to pay interest on the Securities or issued
in exchange for the Securities, (ii) in securities substantially identical to
the Securities issued by the Issuer in payment of interest accrued thereon or
(iii) securities issued by the Issuer which are subordinated to the Senior
Indebtedness at least to the same extent as the Securities and have a Weighted
Average Life to Maturity at least equal to the remaining Weighted Average Life
to Maturity of the Securities), until five Business Days after the respective
Representative of the Designated Senior Indebtedness receives notice (at the
address specified in the preceding sentence) of such acceleration and thereafter
may pay the Securities only if the provisions of this Article 5 otherwise permit
payment at that time.

         Section 5.05. When Distribution Must be Paid Over. If a distribution is
made to the Trustee or to Holders that because of this Article 5 should not have
been made to them, the Trustee or the Holders who receive such distribution
shall hold it in trust for holders of Senior Indebtedness and promptly pay it
over to them as their respective interests may appear; provided, however, that
the liabilities of the Trustee under this Section 5.05 are limited by Section
5.14.

         Section 5.06. Subrogation. After all Senior Indebtedness is paid in
full and until the Securities are paid in full, Holders shall be subrogated to
the rights of holders of Senior Indebtedness to receive distributions applicable
to Senior Indebtedness. A distribution made under this Article 5 to holders of
Senior Indebtedness which otherwise would have been made to Holders is not, as
between the Issuer and the Holders, a payment by the Issuer of Senior
Indebtedness.

         Section 5.07. Relative Rights. This Article 5 defines the relative
rights of Holders of the Securities on the one hand and holders of Senior
Indebtedness on the other hand. Nothing in this Indenture shall:

         (a)      impair, as between the Issuer and the Holders, the obligation
of the Issuer, which is absolute and unconditional, to pay principal of and
interest on the Securities in accordance with their terms; or

                                       40

<PAGE>

         (b)      prevent the Trustee or any Holder from exercising its
available remedies upon a Default or Event of Default, subject to the rights of
holders of Senior Indebtedness to receive distributions otherwise payable to
Holders.

         Section 5.08. Subordination May Not be Impaired by Issuer. No right of
any holder of Senior Indebtedness to enforce the subordination of the
Indebtedness evidenced by the Securities shall be impaired by any act or failure
to act by the Issuer or by the failure of the Issuer to comply with this
Indenture.

         Section 5.09. Rights of Trustee and Paying Agent. Notwithstanding
Section 5.03, the Trustee or Paying Agent may continue to make payments on the
Securities and shall not be charged with knowledge of the existence of facts
that would prohibit the making of any such payments unless, not less than two
Business Days prior to the date of such payment, a Trust Officer of the Trustee
receives notice satisfactory to it that payments may not be made under this
Article 5. The Issuer, the Registrar or co-registrar, the Paying Agent, a
Representative or a holder of Senior Indebtedness may give the notice; provided,
however, that if an issue of Senior Indebtedness has a Representative, only the
Representative may give the notice.

         The Trustee in its individual or any other capacity may hold Senior
Indebtedness with the same rights it would have if it were not Trustee. The
Registrar and co-registrar and the Paying Agent may do the same with like
rights. The Trustee shall be entitled to all the rights set forth in this
Article 5 with respect to any Senior Indebtedness which may at any time be held
by it, to the same extent as any other holder of Senior Indebtedness; and
nothing in Article 5 shall deprive the Trustee of any of its rights as such
holder. Nothing in this Article 5 shall apply to claims of, or payments to, the
Trustee under or pursuant to Section 8.07.

         Section 5.10. Distribution or Notice to Representative. Whenever a
distribution is to be made or a notice given to holders of Senior Indebtedness,
the distribution may be made and the notice given to their Representative (if
any).

         Section 5.11. Article Five Not to Prevent Events of Default or Limit
Right to Accelerate. The failure to make a payment in respect of the Securities
by reason of any provision in this Article 5 shall not be construed as
preventing the occurrence of a Default or Event of Default. Nothing in this
Article 5 shall have any effect on the right of the Holders or the Trustee to
accelerate the maturity of the Securities.

         Section 5.12. Trustee Entitled to Rely. Upon any payment or
distribution pursuant to this Article 5, the Trustee and the Holders shall be
entitled to rely (i) upon any order or decree of a court of competent
jurisdiction in which any proceedings of the nature referred to in Section 5.02
are pending,

                                       41

<PAGE>

(ii) upon a certificate of the liquidating trustee or agent or other Person
making such payment or distribution to the Trustee or to the Holders or (iii)
upon the Representatives for the holders of Senior Indebtedness for the purpose
of ascertaining the Persons entitled to participate in such payment or
distribution, the holders of Senior Indebtedness and other Indebtedness of the
Issuer, the amount thereof or payable thereon, the amount or amounts paid or
distributed thereon and all other facts pertinent thereto or to this Article 5.
In the event that the Trustee determines, in good faith, that evidence is
required with respect to the right of any Person as a holder of Senior
Indebtedness to participate in any payment or distribution pursuant to this
Article 5, the Trustee may request such Person to furnish evidence to the
reasonable satisfaction of the Trustee as to the amount of Senior Indebtedness
held by such Person, the extent to which such Person is entitled to participate
in such payment or distribution and other facts pertinent to the rights of such
Person under this Article 5, and, if such evidence is not furnished, the Trustee
may defer any payment to such Person pending judicial determination as to the
right of such Person to receive such payment. The Trustee shall have the right
to seek a declaratory judgment as to any right of such Person to receive such
payment. The provisions of Sections 8.01 and 8.02 shall be applicable to all
actions or omissions of actions by the Trustee pursuant to this Article 5.

         Section 5.13. Trustee to Effectuate Subordination. Each Holder by
accepting a Security authorizes and directs the Trustee on his behalf to take
such action as may be necessary or appropriate to acknowledge or effectuate the
subordination between the Holder and the holders of Senior Indebtedness as
provided in this Article 5 and appoints the Trustee as attorney-in-fact for any
and all such purposes.

         Section 5.14. Trustee Not Fiduciary for Holders of Senior Indebtedness.
The Trustee shall not be deemed to owe any fiduciary duty to the holders of
Senior Indebtedness and shall not be liable to any such holders if it shall
mistakenly pay over or distribute to Holders or the Issuer, or any other Person,
money or assets to which any holders of Senior Indebtedness shall be entitled by
virtue of this Article 5 or otherwise.

         Section 5.15. Reliance by Holders of Senior Indebtedness on
Subordination Provisions. Each Holder by accepting a Security acknowledges and
agrees that the foregoing subordination provisions are, and are intended to be,
an inducement and a consideration to each holder of any Senior Indebtedness,
whether such Senior Indebtedness was created or acquired before or after the
issuance of the Securities, to acquire and continue to hold, or to continue to
hold, such Senior Indebtedness and such holder of Senior Indebtedness shall be
deemed conclusively to have relied on such subordination

                                       42

<PAGE>

provisions in acquiring and continuing to hold, or in continuing to hold, such
Senior Indebtedness.

                                    ARTICLE 6
                              AFFILIATE GUARANTEES

         Section 6.01. Unconditional Guarantee. Each Guarantor hereby
unconditionally, jointly and severally, guarantees (each, an "AFFILIATE
GUARANTEE") to each Holder of a Security authenticated by the Trustee and to the
Trustee and its successors and assigns that: the principal of and interest on
the Securities will be promptly paid in full when due, subject to any applicable
grace period, whether at maturity, by acceleration or otherwise, and interest on
the overdue principal and interest on any overdue interest on the Securities and
all other obligations of the Issuer to the Holders or the Trustee hereunder or
under the Securities will be promptly paid in full or performed (including,
without limitation, the Issuer's obligation to deliver Common Stock or shares of
stock, other securities or other property or assets (including cash) upon an
exchange of the Securities pursuant to Article 14), all in accordance with the
terms hereof and thereof; subject, however, to the limitations set forth in
Section 6.04. Each Guarantor hereby agrees that its obligations hereunder shall
be unconditional, irrespective of the validity, regularity or enforceability of
the Securities or this Indenture, the absence of any action to enforce the same,
any waiver or consent by any Holder of the Securities with respect to any
provisions hereof or thereof, the recovery of any judgment against the Issuer,
any action to enforce the same or any other circumstance which might otherwise
constitute a legal or equitable discharge or defense of a Guarantor. Each
Guarantor hereby waives diligence, presentment, demand of payment, filing of
claims with a court in the event of insolvency or bankruptcy of the Issuer, any
right to require a proceeding first against the Issuer, protest, notice and all
demands whatsoever and covenants that the Affiliate Guarantee will not be
discharged except by complete performance of the obligations contained in the
Securities, this Indenture and this Affiliate Guarantee. If any Holder or the
Trustee is required by any court or otherwise to return to the Issuer, any
Guarantor, or any custodian, trustee, liquidator or other similar official
acting in relation to the Issuer or any Guarantor, any amount paid by the Issuer
or any Guarantor to the Trustee or such Holder, this Affiliate Guarantee, to the
extent theretofore discharged, shall be reinstated in full force and effect.
Each Guarantor further agrees that, as between each Guarantor, on the one hand,
and the Holders and the Trustee, on the other hand, (x) the maturity of the
obligations guaranteed hereby may be accelerated as provided in Article 4 for
the purpose of this Affiliate Guarantee, notwithstanding any stay, injunction or
other prohibition preventing such acceleration in respect of the obligations
guaranteed hereby, and (y) in the event of any acceleration of such obligations
as provided in Article 4, such

                                       43

<PAGE>

obligations (whether or not due and payable) shall forth become due and payable
by each Guarantor for the purpose of this Affiliate Guarantee.

         Section 6.02. Severability. In case any provision of this Affiliate
Guarantee shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or
impaired thereby.

         Section 6.03. Release of a Guarantor. Any Guarantor that is designated
an Unrestricted Subsidiary shall upon such designation be released and
discharged of all obligations under this Article 6 without any further action
required on the part of the Trustee or any Holder.

         (b)      If all outstanding Securities are satisfied and discharged in
accordance with the terms of this Indenture, or if all or substantially all of
the assets of any Subsidiary Guarantor or all of the equity interest in any
Subsidiary Guarantor are sold (including through merger, consolidation, by
issuance or otherwise) then such Subsidiary Guarantor (in the event of a sale or
other disposition of all of the equity interests of such Subsidiary Guarantor)
or the Person acquiring the assets (in the event of a sale or other disposition
of all or substantially all of the assets of such Subsidiary Guarantor) shall be
released and discharged of its Affiliate Guarantee in respect of this Indenture
and the Securities without any further action required on the part of the
Trustee or any Holder. Solely for purposes of this Section 6.03(b), the sale of
assets referred to in the preceding sentence is deemed to include a sale,
conveyance or transfer by the Representative following a foreclosure on such
assets.

         Section 6.04. Limitation of Guarantor's Liability. Each
Subsidiary Guarantor, and by its acceptance hereof each Holder and the Trustee,
hereby confirms that it is the intention of all such parties that the Guarantee
by such Subsidiary Guarantor pursuant to its Affiliate Guarantee not constitute
a fraudulent transfer or conveyance for purposes of Title 11 of the United
States Code, as amended, the Uniform Fraudulent Conveyance Act, the Uniform
Fraudulent Transfer Act or any similar U.S. Federal or state or other applicable
law. To effectuate the foregoing intention, the Holders and each Subsidiary
Guarantor hereby irrevocably agree that the obligations of each Subsidiary
Guarantor under its Affiliate Guarantee shall be limited to the maximum amount
as will, after giving effect to all other contingent and fixed liabilities of
such Guarantor and after giving effect to any collections from or payments made
by or on behalf of any other Subsidiary Guarantor in respect of the obligations
of such other Subsidiary Guarantor under its Affiliate Guarantee or pursuant to
Section 6.05, result in the obligations of such Guarantor under its Affiliate
Guarantee not constituting such a fraudulent transfer or conveyance.

                                       44

<PAGE>

         Section 6.05. Contribution. In order to provide for just and equitable
contribution among the Guarantors, the Guarantors agree, inter se, that in the
event any payment or distribution is made by any Guarantor (a "FUNDING
GUARANTOR") under the Affiliate Guarantee, such Funding Guarantor shall be
entitled to a contribution from all other Guarantors in a pro rata amount, based
on the net assets of each Guarantor (including the Funding Guarantor),
determined in accordance with GAAP, subject to Section 6.04, for all payments,
damages and expenses incurred by such Funding Guarantor in discharging the
Issuer's obligations with respect to the Securities or any other Guarantor's
obligations with respect to the Affiliate Guarantee.

         Section 6.06. Execution of Affiliate Guarantee. To further evidence
their Guarantee to the Holders, each of the Guarantors hereby agrees to execute
an Affiliate Guarantee to be endorsed on each Security ordered to be
authenticated and delivered by the Trustee. Each Guarantor hereby agrees that
its Affiliate Guarantee set forth in Section 6.01 shall remain in full force and
effect notwithstanding any failure to endorse on each Security an Affiliate
Guarantee. Each such Affiliate Guarantee shall be signed on behalf of each
Guarantor by its Chairman of the Board, its President or one of its Vice
Presidents prior to the authentication of the Security on which it is endorsed,
and the delivery of such Security by the Trustee, after the authentication
thereof hereunder, shall constitute due delivery of such Affiliate Guarantee on
behalf of such Guarantor. Such signature upon the Affiliate Guarantee may be
manual or facsimile signature of such officer and may be imprinted or otherwise
reproduced on the Affiliate Guarantee, and in case such officer who shall have
signed the Affiliate Guarantee shall cease to be such officer before the
Security on which such Affiliate Guarantee is endorsed shall have been
authenticated and delivered by the Trustee or disposed of by the Issuer, such
Security nevertheless may be authenticated and delivered or disposed of as
though the Person who signed the Affiliate Guarantee had not ceased to be such
officer of such Guarantor.

         Section 6.07. Subordination of Subrogation and Other Rights. Each
Guarantor hereby agrees that any claim against the Issuer that arises from the
payment, performance or enforcement of such Guarantor's obligations under its
Affiliate Guarantee or this Indenture, including, without limitation, any right
of subrogation, shall be subject and subordinate to, and no payment with respect
to any such claim of such Guarantor shall be made before, the payment in full in
cash of all outstanding Securities in accordance with the provisions provided
therefor in this Indenture.

                                       45

<PAGE>

                                    ARTICLE 7
                      SUBORDINATION OF AFFILIATE GUARANTEES

         Section 7.01. Agreement to Subordinate. Each Guarantor agrees, and each
Holder by accepting an Affiliate Guarantee agrees, that the Indebtedness of such
Guarantor evidenced by the Affiliate Guarantee is subordinated in right of
payment, to the extent and in the manner provided in this Article 7, to the
payment when due of all Guarantor Senior Indebtedness of such Guarantor and that
such subordination is for the benefit of and enforceable by the holders of
Guarantor Senior Indebtedness. The Affiliate Guarantee shall in all respects
rank pari passu with all other Guarantor Senior Subordinated Indebtedness of a
Guarantor, and only Indebtedness of a Guarantor which is Guarantor Senior
Indebtedness will rank senior to the Affiliate Guarantee in accordance with the
provisions set forth herein. Unsecured Indebtedness is not deemed to be
subordinate or junior to Secured Indebtedness merely because it is unsecured,
nor is any Indebtedness deemed to be subordinate or junior to other Indebtedness
merely because it matures after such other Indebtedness. Secured Indebtedness is
not deemed to be Senior Indebtedness merely because it is secured.

         Section 7.02. Liquidation, Dissolution, Bankruptcy. Upon any payment or
distribution of the assets of a Guarantor upon a total or partial liquidation or
dissolution or reorganization or bankruptcy of or similar proceeding relating to
a Guarantor or its property:

         (a)      holders of Guarantor Senior Indebtedness of such Guarantor
shall be entitled to receive payment in full in cash or Cash Equivalents of all
Guarantor Senior Indebtedness of such Guarantor before Holders shall be entitled
to receive any payment of principal of or interest on or other amounts with
respect to the Securities from such Guarantor; and

         (b)      until the Guarantor Senior Indebtedness of such Guarantor is
paid in full, any payment or distribution to which Holders would be entitled but
for the provisions of this Article 7 shall be made to holders of Guarantor
Senior Indebtedness as their interests may appear.

         Section 7.03. Default on Guarantor Senior Indebtedness. No Guarantor
may pay the Securities if (i) any Guarantor Senior Indebtedness is not paid in
cash or Cash Equivalents when due or (ii) any other default on Guarantor Senior
Indebtedness occurs and the maturity of such Guarantor Senior Indebtedness is
accelerated in accordance with its terms unless, in either case, (x) the default
has been cured or waived or is no longer continuing and/or any such acceleration
has been rescinded or (y) such Guarantor Senior Indebtedness has been paid in
full; provided, however, that the Guarantor may pay the Securities subject to
the provisions of Section 7.02, without regard to the foregoing if the Guarantor
and

                                       46

<PAGE>

the Trustee receive written notice approving such payment from the
Representatives of the Senior Indebtedness with respect to which either of the
events set forth in clause (i) or (ii) of this sentence has occurred or is
continuing. During the continuance of any default (other than a default
described in clause (i) or (ii) of the preceding sentence) with respect to any
Designated Senior Indebtedness pursuant to which the maturity thereof may be
accelerated immediately without further notice (except such notice as may be
required to effect such acceleration) or the expiration of any applicable grace
periods, a Guarantor may not pay the Securities (except (i) in Qualified Capital
Stock issued by such Guarantor to pay interest on the Securities or issued in
exchange for the Securities, (ii) in securities substantially identical to the
Securities issued by such Guarantor in payment of interest accrued thereon or
(iii) in securities issued by such Guarantor which are subordinated to the
Guarantor Senior Indebtedness at least to the same extent as the Securities and
having a Weighted Average Life to Maturity at least equal to the remaining
Weighted Average Life to Maturity of the Securities) for a period (a "GUARANTOR
PAYMENT BLOCKAGE PERIOD") commencing upon the receipt by the Trustee (with a
copy to the Guarantor) of written notice (a "GUARANTOR BLOCKAGE NOTICE") of such
default from the Representative of the holders of such Designated Senior
Indebtedness specifying an election to effect a Guarantor Payment Blockage
Period and ending 179 days thereafter (or earlier if such Guarantor Payment
Blockage Period is terminated (i) by written notice to the Trustee and the
Guarantor from the Person or Persons who gave such Guarantor Blockage Notice,
(ii) because the default giving rise to such Guarantor Blockage Notice is no
longer continuing or (iii) because such Designated Senior Indebtedness has been
repaid in full). Notwithstanding the provisions of the immediately preceding
sentence, but subject to the provisions of the first sentence of this Section
7.03 and the provisions of Section 7.02, the Guarantor may resume payments on
the Securities after the end of such Payment Blockage Period. Not more than one
Blockage Notice may be given, and not more than one Payment Blockage Period may
occur, in any consecutive 360-day period, irrespective of the number of defaults
with respect to Designated Senior Indebtedness during such period. However, if
any Blockage Notice within such 360-day period is given by or on behalf of any
holders of Designated Senior Indebtedness (other than the agent under the Senior
Credit Facilities), the agent under the Senior Credit Facilities may give
another Blockage Notice within such period. In no event, however, may the total
number of days during which any Payment Blockage Period or Payment Blockage
Periods are in effect exceed 179 days in the aggregate during any 360
consecutive day period. No nonpayment default that existed or was continuing on
the date of delivery of any Blockage Notice to the Trustee shall be, or be made,
the basis for a subsequent Blockage Notice unless such default shall have been
cured or waived for a period of not less than 90 consecutive days.

                                       47

<PAGE>

         Section 7.04. Acceleration of Payment of Securities. If a notice is
required pursuant to the first sentence of Section 5.04, no Guarantor may pay
the Securities (except payment (i) in Qualified Capital Stock issued by the
Guarantor to pay interest on the Securities or issued in exchange for the
Securities, (ii) in securities substantially identical to the Securities issued
by the Guarantor in payment of interest accrued thereon or (iii) securities
issued by the Guarantor which are subordinated to the Guarantor Senior
Indebtedness at least to the same extent as the Securities and have a Weighted
Average Life to Maturity at least equal to the remaining Weighted Average Life
to Maturity of the Securities), until five Business Days after the respective
Representative of the Designated Senior Indebtedness receives notice of such
acceleration and thereafter, may pay the Securities only if the provisions of
this Article 7 otherwise permit payment at that time.

         Section 7.05. When Distribution Must Be Paid Over. If a distribution is
made to the Trustee or to Holders that because of this Article 7 should not have
been made to them, the Trustee or the Holders who receive such distribution
shall hold it in trust for holders of Guarantor Senior Indebtedness and promptly
pay it over to them as their respective interests may appear; provided, however,
that the liabilities of the Trustee under this Section 7.05 are limited by
Section 7.14.

         Section 7.06. Subrogation. After all Guarantor Senior Indebtedness is
paid in full and until the Securities are paid in full, Holders shall be
subrogated to the rights of holders of Guarantor Senior Indebtedness to receive
distributions applicable to Guarantor Senior Indebtedness. A distribution made
under this Article 7 to holders of Guarantor Senior Indebtedness which otherwise
would have been made to Holders is not, as between the Guarantor and the
Holders, a payment by any Guarantor of Guarantor Senior Indebtedness.

         Section 7.07. Relative Rights. This Article 7 defines the relative
rights of Holders of the Securities on the one hand and holders of Guarantor
Senior Indebtedness on the other hand. Nothing in this Indenture shall:

         (a)      impair, as between the Guarantor and the Holders, the
obligations of any Guarantor, which are absolute and unconditional, in respect
of its Affiliate Guarantee; or

         (b)      prevent the Trustee or any Holder from exercising its
available remedies upon a Default or Event of Default, subject to the rights of
holders of Guarantor Senior Indebtedness to receive distributions otherwise
payable to Holders.

         Section 7.08. Subordination May Not Be Impaired by Guarantor. No right
of any holder of Guarantor Senior Indebtedness to enforce the

                                       48

<PAGE>

subordination of the obligations under any Affiliate Guarantee evidenced by the
Securities shall be impaired by any act or failure to act by any Guarantor or by
the failure of any Guarantor to comply with this Indenture.

         Section 7.09. Rights of Trustee and Paying Agent. (a) Notwithstanding
Section 7.03, the Trustee or Paying Agent may continue to make payments on the
Securities and shall not be charged with knowledge of the existence of facts
that would prohibit the making of any such payments unless, not less than two
Business Days prior to the date of such payment, a Trust Officer of the Trustee
receives notice satisfactory to it that payments may not be made under this
Article 7. A Guarantor, the Registrar or co-registrar, the Paying Agent, a
Representative or a holder of Guarantor Senior Indebtedness may give the
notice; provided, however, that if an issue of Guarantor Senior Indebtedness
has a Representative, only the Representative may give the notice.

         (b)      The Trustee in its individual or any other capacity may hold
Guarantor Senior Indebtedness with the same rights it would have if it were not
Trustee. The Registrar and co-registrar and the Paying Agent may do the same
with like rights. The Trustee shall be entitled to all the rights set forth in
this Article 7 with respect to any Guarantor Senior Indebtedness which may at
any time be held by it, to the same extent as any other holder of Guarantor
Senior Indebtedness; and nothing in Article 7 shall deprive the Trustee of any
of its rights as such holder. Nothing in this Article 7 shall apply to claims
of, or payments to, the Trustee under or pursuant to Section 8.07.

         Section 7.10. Distribution or Notice to Representative. Whenever a
distribution is to be made or a notice given to holders of Guarantor Senior
Indebtedness, the distribution may be made and the notice given to their
Representative, if any.

         Section 7.11. Article Seven Not To Prevent Events of Default or Limit
Right To Accelerate. The failure to make a payment in respect of the Securities
by reason of any provision in this Article 7 shall not be construed as
preventing the occurrence of a Default or Event of Default. Nothing in this
Article 7 shall have any effect on the right of the Holders or the Trustee to
enforce any Affiliate Guarantee or to accelerate the maturity of the Securities.

         Section 7.12. Trustee Entitled to Rely. Upon any payment or
distribution pursuant to this Article 7, the Trustee and the Holders shall be
entitled to rely (i) upon any order or decree of a court of competent
jurisdiction in which any proceedings of the nature referred to in Section 7.02
are pending, (ii) upon a certificate of the liquidating trustee or agent or
other Person making such payment or distribution to the Trustee or to the
Holders or (iii) upon the Representatives for the holders of Guarantor Senior
Indebtedness for the purpose

                                       49

<PAGE>

of ascertaining the Persons entitled to participate in such payment or
distribution, the holders of Guarantor Senior Indebtedness and other
Indebtedness of any Guarantor, the amount thereof or payable thereon, the amount
or amounts paid or distributed thereon and all other facts pertinent thereto or
to this Article 7. In the event that the Trustee determines, in good faith, that
evidence is required with respect to the right of any Person as a holder of
Guarantor Senior Indebtedness to participate in any payment or distribution
pursuant to this Article 7, the Trustee may request such Person to furnish
evidence to the reasonable satisfaction of the Trustee as to the amount of
Guarantor Senior Indebtedness held by such Person, the extent to which such
Person is entitled to participate in such payment or distribution and other
facts pertinent to the rights of such Person under this Article 7, and, if such
evidence is not furnished, the Trustee may defer any payment to such Person
pending judicial determination as to the right of such Person to receive such
payment. The Trustee shall have the right to seek a declaratory judgment as to
any right of such Person to receive such payment. The provisions of Sections
8.01 and 8.02 shall be applicable to all actions or omissions of actions by the
Trustee pursuant to this Article 7.

         Section 7.13. Trustee To Effectuate Subordination. Each Holder by
accepting an Affiliate Guarantee authorizes and directs the Trustee on his
behalf to take such action as may be necessary or appropriate to acknowledge or
effectuate the subordination between the Holder and the holders of Guarantor
Senior Indebtedness as provided in this Article 7 and appoints the Trustee as
attorney-in-fact for any and all such purposes.

         Section 7.14. Trustee Not Fiduciary for Holders of Guarantor Senior
Indebtedness. The Trustee shall not be deemed to owe any fiduciary duty to the
holders of Guarantor Senior Indebtedness and shall not be liable to any such
holders if it shall mistakenly pay over or distribute to Holders or the
Guarantor, or any other Person, money or assets to which any holders of
Guarantor Senior Indebtedness shall be entitled by virtue of this Article 7 or
otherwise.

         Section 7.15. Reliance by Holders of Guarantor Senior Indebtedness on
Subordination Provisions. Each Holder by accepting an Affiliate Guarantee
acknowledges and agrees that the foregoing subordination provisions are, and are
intended to be, an inducement and a consideration to each holder of any
Guarantor Senior Indebtedness, whether such Guarantor Senior Indebtedness was
created or acquired before or after the issuance of the Affiliate Guarantee, to
acquire and continue to hold, or to continue to hold, such Guarantor Senior
Indebtedness and such holder of Guarantor Senior Indebtedness shall be deemed
conclusively to have relied on such subordination provisions in acquiring and
continuing to hold, or in continuing to hold, such Guarantor Senior
Indebtedness.

                                       50

<PAGE>

                                    ARTICLE 8
                                   THE TRUSTEE

         Section 8.01. Duties of Trustee.

         (a)      If a Default has occurred and is continuing, the Trustee shall
exercise such of the rights and powers vested in it by this Indenture and use
the same degree of care and skill in their exercise as a prudent man would
exercise or use under the circumstances in the conduct of his own affairs.

         (b)      Except during the continuance of a Default:

                  (i)      The Trustee shall not be liable except for the
         performance of such duties as are specifically set forth herein; and

                  (ii)     In the absence of bad faith on its part, the Trustee
         may conclusively rely, as to the truth of the statements and the
         correctness of the opinions expressed therein, upon certificates or
         opinions conforming to the requirements of this Indenture; provided,
         however, that in the case of any such certificates or opinions which by
         any provision hereof are specifically required to be furnished to the
         Trustee, the Trustee shall examine such certificates and opinions to
         determine whether or not they conform to the requirements of this
         Indenture.

         (c)      The Trustee shall not be relieved from liability for its own
negligent action, its own negligent failure to act, or its own willful
misconduct, except that:

                  (i)      This paragraph does not limit the effect of paragraph
         (b) of this Section 8.01;

                  (ii)     The Trustee shall not be liable for any error of
         judgment made in good faith by a Trust Officer, unless it is proved
         that the Trustee was negligent in ascertaining the pertinent facts; and

                  (iii)    The Trustee shall not be liable with respect to any
         action it takes or omits to take in good faith in accordance with a
         direction received by it pursuant to Sections 4.02, 4.04 and 4.05.

         (d)      No provision of this Indenture shall require the Trustee to
expend or risk its own funds or otherwise incur any financial liability in the
performance of any of its duties hereunder or to take or omit to take any action
under this Indenture or take any action at the request or direction of Holders
if it shall have reasonable grounds for believing that repayment of such funds
is not assured to it or it does not receive from such Holders an indemnity
satisfactory to it in its sole

                                       51

<PAGE>

discretion against such risk, liability, loss, fee or expense which might be
incurred by it in compliance with such request or direction.

         (e)      Every provision of this Indenture that in any way relates to
the Trustee is subject to paragraphs (a), (b), (c) and (d) of this Section 8.01.

         (f)      The Trustee shall not be liable for interest on any money
received by it except as the Trustee may agree in writing with the Issuer. Money
held in trust by the Trustee need not be segregated from other funds except to
the extent required by law.

         Section 8.02. Rights of Trustee.

         Subject to Section 8.01:

         (a)      The Trustee may rely on any document believed by it to be
genuine and to have been signed or presented by the proper Person. The Trustee
need not investigate any fact or matter stated in the document.

         (b)      Before the Trustee acts or refrains from acting, it may
require an Officers' Certificate and/or an Opinion of Counsel, which shall
conform to the provisions of Section 19.05. The Trustee shall not be liable for
any action it takes or omits to take in good faith in reliance on such
certificate or opinion.

         (c)      The Trustee may act through attorneys and agents of its
selection and shall not be responsible for the misconduct or negligence of any
agent or attorney (other than an agent who is an employee of the Trustee)
appointed with due care and appointed with the consent of the Issuer.

         (d)      The Trustee shall not be liable for any action it takes or
omits to take in good faith which it reasonably believes to be authorized or
within its rights or powers.

         (e)      Before the Trustee acts or refrains from acting, it may
consult with counsel and the advice or opinion of such counsel as to matters of
law shall be full and complete authorization and protection from liability in
respect of any action taken, omitted or suffered by it hereunder in good faith
and in accordance with the advice or opinion of such counsel.

         (f)      Any request or direction of the Issuer mentioned herein shall
be sufficiently evidenced by a Issuer Request or Issuer Order and any resolution
of the Board of Directors may be sufficiently evidenced by a Board Resolution.

         (g)      The Trustee shall be under no obligation to exercise any of
the rights or powers vested in it by this Indenture at the request or direction
of any of

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<PAGE>

the Holders pursuant to this Indenture, unless such Holders shall have offered
to the Trustee reasonable security or indemnity against the costs, expenses and
liabilities which might be incurred by it in compliance with such request or
direction.

         (h)      The Trustee shall not be bound to make any investigation into
the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, direction, consent, order, bond,
debenture, note, other evidence of indebtedness or other paper or document, but
the Trustee, in its discretion, may make such further inquiry or investigation
into such facts or matters as it may see fit, and, if the Trustee shall
determine to make such further inquiry or investigation, it shall be entitled to
examine the books, records and premises of the Issuer, personally or by agent or
attorney.

         (i)      The Trustee shall not be deemed to have notice of any Event of
Default unless a Trust Officer of the Trustee has actual knowledge thereof or
unless the Trustee shall have received written notice thereof at the Corporate
Trust Office of the Trustee, and such notice references the Securities and this
Indenture.

         (j)      The Trustee shall not be required to give any bond or surety
in respect of the performance of its powers and duties hereunder.

         (k)      The permissive rights of the Trustee to do things enumerated
in this Indenture shall not be construed as a duty and the Trustee shall not be
answerable for other than its gross negligence or willful misconduct.

         Section 8.03. Individual Rights of Trustee. The Trustee in its
individual or any other capacity may become the owner or pledgee of Securities
and may otherwise deal with the Issuer or their Affiliates with the same rights
it would have if it were not Trustee. Any Agent may do the same with like
rights. However, the Trustee is subject to Sections 8.10 and 8.11.

         Section 8.04. Trustee's Disclaimer. The Trustee shall not be
responsible for and makes no representation as to the validity or adequacy of
this Indenture or the Securities, it shall not be accountable for the Issuer's
use of the proceeds from the Securities, and it shall not be responsible for any
statement of the Issuer or any Guarantor in this Indenture or any document
issued in connection with the sale of Securities or any statement in the
Securities other than the Trustee's certificate of authentication.

         Section 8.05. Notice of Defaults. If a Default or an Event of Default
occurs and is continuing and the Trustee has actual knowledge of such Defaults
or Events of Default, the Trustee shall mail to each Holder notice of the
Default or Event of Default within 30 days after the occurrence thereof. Except
in the

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<PAGE>

case of a Default or an Event of Default in payment of principal of or interest
on any Security or a Default or Event of Default in complying with Section
10.01, the Trustee may withhold the notice if and so long as a committee of its
Trust Officers in good faith determines that withholding the notice is in the
interest of the Holders. This Section 8.05 shall be in lieu of the proviso to
Section 315(b) of the TIA and such proviso to Section 315(b) of the TIA is
hereby expressly excluded from this Indenture and the Securities, as permitted
by the TIA.

         Section 8.06. Reports by Trustee to Holders. If required by TIA Section
313(a), within 60 days after each February 1 beginning with February 1, 2004,
the Trustee shall mail to each Holder a report dated as of such February 1 that
complies with TIA Section 313(a). The Trustee also shall comply with TIA Section
313(b), (c) and (d).

         A copy of each such report at the time of its mailing to Holders shall
be filed with the Commission and each stock exchange, if any, on which the
Securities are listed.

         The Issuer shall promptly notify the Trustee in writing if the
Securities become listed on any stock exchange or of any delisting thereof.

         Section 8.07. Compensation and Indemnity. The Issuer and the
Guarantors shall pay to the Trustee and the Agents from time to time, and the
Trustee and the Agents shall be entitled to, such compensation as the Issuer and
the Trustee and the Agents shall from time to time agree in writing for their
respective services. The Trustee's compensation shall not be limited by any law
on compensation of a trustee of an express trust. The Issuer and the Guarantors
shall reimburse the Trustee and the Agents upon request for all reasonable
disbursements, expenses and advances, including all costs and expenses of
collection and reasonable fees, disbursements and expenses of its agents and
outside counsel incurred or made by any of them in addition to the compensation
for their respective services except any such disbursements, expenses and
advances as may be attributable to negligence or willful misconduct of the party
to be reimbursed.

         The Issuer and the Guarantors shall jointly and severally indemnify the
Trustee and the Agents for, and hold them harmless against any and all loss,
damage, claims, liability or expense, including taxes (other than franchise
taxes imposed on the indemnified party and taxes based upon, measured by or
determined by the income of the indemnified party), arising out of or in
connection with the acceptance or administration of the trust or trusts
hereunder, including the costs and expenses of defending themselves against or
investigating any claim or liability in connection with the exercise or
performance of any of their powers or duties hereunder, except to the extent
that

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<PAGE>

such loss, damage, claim, liability or expense is due to negligence or willful
misconduct of the indemnified party. The indemnified party shall notify the
Issuer promptly of any claim asserted against the indemnified party for which it
may seek indemnity. However, the failure by the indemnified party to so notify
the Issuer shall not relieve the Issuer and the Guarantors of their obligations
hereunder unless the Issuer and the Guarantors have been prejudiced thereby. The
Issuer and the Guarantors shall defend the claim and the indemnified party shall
cooperate in the defense at the expense of the Issuer and the Guarantors;
provided that the Issuer and the Guarantors shall not be liable in any action or
for which they have assumed the defense for the expenses of separate counsel to
the indemnified party unless (1) the employment of separate counsel has been
authorized by the Issuer and the Guarantors, (2) the indemnified party has
reasonably concluded (based upon advice of counsel to the indemnified party)
that there may be legal defenses available to the indemnified party that are
different from or in addition to those available to the Issuer and the
Guarantors or (3) a conflict or potential conflict exists (based upon advice of
counsel to the indemnified party) between the indemnified party, the Issuer and
the Guarantors; provided further, however, that in any such event the
reimbursement obligation of the Issuer and the Guarantors with respect to
separate counsel of the indemnified party will be limited to the reasonable fees
and expenses of such counsel.

         The Issuer and the Guarantors need not pay for any settlement made
without their written consent, which consent shall not be unreasonably withheld.
The Issuer and the Guarantors need not reimburse any expense or indemnify
against any loss or liability incurred by the Trustee or an Agent as a result of
its own negligence or willful misconduct.

         To secure the payment obligations of the Issuer and the Guarantors in
this Section 8.07, the Trustee shall have a Lien prior to the Securities against
all money or property held or collected by the Trustee, in its capacity as
Trustee, except money or property held in trust to pay principal of or interest
on particular Securities.

         When the Trustee incurs expenses or renders services after an Event of
Default specified in Section 4.01(f) or Section 4.01(g) occurs, the expenses
(including the reasonable fees and expenses of its agents and counsel) and the
compensation for the services shall be preferred over the status of the Holders
in a proceeding under any Bankruptcy Law and are intended to constitute expenses
of administration under any Bankruptcy Law.

         Section 8.08. Replacement of Trustee. The Trustee may resign at any
time by so notifying the Issuer in writing. The Holders of a majority in
Principal Amount of the outstanding Securities may remove the Trustee by so
notifying

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<PAGE>

the Trustee and the Issuer in writing and may appoint a successor Trustee with
the Issuer's consent. The Issuer may remove the Trustee if:

         (a)      the Trustee fails to comply with Section 8.10;

         (b)      the Trustee is adjudged bankrupt or insolvent or an order for
relief is entered with respect to the Trustee under any Bankruptcy Law;

         (c)      a Custodian or other public officer takes charge of the
Trustee or its property; or

         (d)      the Trustee becomes incapable of acting.

         If the Trustee resigns or is removed or if a vacancy exists in the
office of Trustee for any reason (the Trustee in such event being referred to
herein as the retiring Trustee), the Issuer shall promptly appoint a successor
Trustee. Within one year after the successor Trustee takes office, the Holders
of a majority in Principal Amount of the Securities may appoint a successor
Trustee to replace the successor Trustee appointed by the Issuer.

         A successor Trustee shall deliver a written acceptance of its
appointment to the retiring Trustee and to the Issuer. As promptly as
practicable after that, the retiring Trustee shall transfer, after payment of
all sums then owing to the Trustee pursuant to Section 8.07, all property held
by it as Trustee to the successor Trustee, subject to the Lien provided in
Section 8.07, the resignation or removal of the retiring Trustee shall become
effective, and the successor Trustee shall have the rights, powers and duties of
the Trustee under this Indenture. A successor Trustee shall mail notice of its
succession to each Holder.

         If a successor Trustee does not take office within 60 days after the
retiring Trustee resigns or is removed, the retiring Trustee, the Issuer or the
Holders of at least 10% in Principal Amount of the outstanding Securities may
petition, at the expense of the Issuer, any court of competent jurisdiction for
the appointment of a successor Trustee.

         If the Trustee fails to comply with Section 8.10, any Holder may
petition any court of competent jurisdiction for the removal of the Trustee and
the appointment of a successor Trustee.

         Notwithstanding replacement of the Trustee pursuant to this Section
8.08, the Issuer's obligations under Section 8.07 shall continue for the benefit
of the retiring Trustee.

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<PAGE>

         Section 8.09. Successor Trustee by Merger, Etc.. If the Trustee
consolidates with, merges or converts into, or transfers all or substantially
all of its corporate trust business to, another corporation or banking
corporation, the resulting, surviving or transferee corporation or banking
corporation without any further act shall be the successor Trustee; provided,
however, that such corporation shall be otherwise qualified and eligible under
this Article 8.

         Section 8.10. Eligibility; Disqualification. This Indenture shall
always have a Trustee which shall be eligible to act as Trustee under TIA
Sections 310(a)(1) and 310(a)(2). The Trustee shall have a combined capital and
surplus of at least $50,000,000 as set forth in its most recent published annual
report of condition. If the Trustee has or shall acquire any "conflicting
interest" within the meaning of TIA Section 310(b), the Trustee and the Issuer
shall comply with the provisions of TIA Section 310(b); provided, however, that
there shall be excluded from the operation of TIA Section 310(b)(1) any
indenture or indentures under which other securities or certificates of interest
or participation in other securities of the Issuer are outstanding if the
requirements for such exclusion set forth in TIA Section 310(b)(1) are met. If
at any time the Trustee shall cease to be eligible in accordance with the
provisions of this Section 8.10, the Trustee shall resign immediately in the
manner and with the effect hereinbefore specified in this Article 8. The
provisions of TIA Section 310 shall apply to the Issuer and any other obligor of
the Securities.

         Section 8.11. Preferential Collection of Claims Against the Issuer. The
Trustee shall comply with TIA Section 311(a), excluding any creditor
relationship listed in TIA Section 311(b). A Trustee who has resigned or been
removed shall be subject to TIA Section 311(a) to the extent indicated therein.

                                    ARTICLE 9
                HOLDERS' LISTS AND REPORTS BY TRUSTEE AND ISSUER

         Section 9.01. Issuer to Furnish Trustee Information as to Names and
Addresses of Holders. The Issuer covenants and agrees that it will furnish or
cause to be furnished to the Trustee:

         (a)      Semi-annually, not later than May 1 and November 1 in each
year, commencing May 1, 2004, a list, in such form as the Trustee may reasonably
require, of the names and addresses of the Holders as of a date not more than 15
days prior to the time such list is furnished and

         (b)      at such other times as the Trustee may request in writing,
within 30 days after the receipt by the Issuer of any such request, a list of
similar form and content as of a date not more than 15 days prior to the time
such list is furnished;

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<PAGE>

provided, however, that so long as the Trustee is the Registrar, no such list
shall be required to be furnished.

         Section 9.02. Preservation of Information; Communications to Holders.
The Trustee shall preserve, in as current a form as is reasonably practicable,
all information as to the names and addresses of the Holders of Securities (1)
contained in the most recent list furnished to it as provided in Section 9.01
and (2) received by it in the capacity of Paying Agent or Registrar (if so
acting) hereunder. The Trustee may destroy any list furnished to it as provided
in Section 9.01 upon receipt of a new list so furnished.

         Section 9.03. Reports by Trustee. Within 60 days after each May 1
beginning with May 1, 2004, the Trustee shall mail to each Holder a brief report
dated as of such May 1 that complies with TIA Section 313(a), if required by
such TIA Section 313(a). The Trustee also shall comply with TIA Section 313(b).

         A copy of each report at the time of its mailing to Holders shall be
filed with the Commission and each securities exchange, if any, on which the
Securities are listed. The Issuer agrees to promptly notify the Trustee whenever
the Securities become listed on any securities exchange and of any delisting
thereof.

         Section 9.04. Reports by Issuer. If at any time while any of the
Securities are "restricted securities" within the meaning of Rule 144, either
the Issuer or LIN TV is no longer subject to the reporting requirements of
Section 13 or 15(d) of the Exchange Act, the Issuer or LIN TV, as the case may
be, shall prepare and shall furnish to any Holder, any beneficial owner of
Securities and any prospective purchaser of Securities designated by a Holder or
a beneficial owner of Securities, promptly upon request, the information
required pursuant to Rule 144A(d)(4) (or any successor thereto) under the
Securities Act in connection with the offer, sale or transfer of Securities.

                                   ARTICLE 10
                    CONSOLIDATION, MERGER, SALE OR CONVEYANCE

         Section 10.01. Consolidations and Mergers of Issuer Permitted Subject
to Certain Conditions. Neither LIN TV nor the Issuer shall consolidate with or
merge into any other Person or convey, transfer or lease its properties and
assets substantially as an entirety to any Person, unless:

                  (a)      LIN TV or the Issuer, as the case may be, is the
         surviving corporation or the Person formed by such consolidation or
         into which LIN TV or the Issuer, as the case may be, is merged or the
         Person which

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<PAGE>

         acquires by conveyance or transfer, or which leases, the properties and
         assets of LIN TV or the Issuer, as the case may be, substantially as an
         entirety shall be a corporation, limited liability company,
         partnership, trust or other entity organized and existing under the
         laws of the United States of America, any political subdivision thereof
         or any State thereof and shall expressly assume, by an indenture
         supplemental hereto, executed and delivered to the Trustee, in form
         satisfactory to the Trustee, the due and punctual payment (pursuant to
         this Indenture, in the case of the Issuer, or the Affiliate Guarantee
         of LIN TV, in the case of LIN TV) of the Principal Amount, Redemption
         Price, Purchase Price or Fundamental Change Purchase Price with respect
         to any Security and any interest (including Contingent Interest and
         Liquidated Damages, if any) on all the Securities and the performance
         of every covenant to be performed by the Issuer or observed hereunder
         (in the case of the Issuer) or under the Affiliate Guarantee of LIN TV
         (in the case of LIN TV);

                  (b)      immediately after giving effect to such transaction,
         no Default or Event of Default shall have happened and be continuing;
         and

                  (c)      LIN TV or the Issuer, as the case may be, has
         delivered to the Trustee an Officers' Certificate and an Opinion of
         Counsel each stating that such consolidation, merger, conveyance,
         transfer or lease and such supplemental indenture comply with this
         Article and that all conditions precedent herein provided for relating
         to such transaction have been met.

         Section 10.02. Rights and Duties of Successor Entity. Upon any
consolidation with or merger into any other corporation, or any conveyance,
transfer or lease of the properties and assets of the Issuer or LIN TV, as the
case may be, substantially as an entirety in accordance with Section 10.01, the
successor entity formed by such consolidation or into which the Issuer or LIN
TV, as the case may be, is merged or to which such conveyance, transfer or lease
is made shall succeed to, and be substituted for, and may exercise every right
and power of the Issuer under this Indenture or LIN TV under its Affiliate
Guarantee, as the case may be, with the same effect as if such successor had
been named as the Issuer or LIN TV, as the case may be, herein, and thereafter,
except in the case of a lease, the Issuer or LIN TV, as the case may be, (which
term for this purpose shall mean LIN Television Corporation, a Delaware
corporation, or LIN TV Corp., a Delaware corporation, as the case may be, or, in
each case, any successor entity that shall theretofore have been substituted for
such entity in the manner presented in this Article) shall be relieved of all
obligations and covenants under this Indenture and the Securities.

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<PAGE>

                                   ARTICLE 11
                       AMENDMENTS, SUPPLEMENTS AND WAIVERS

         Section 11.01. Without Consent of Holders. The Issuer and the
Guarantors, when authorized by a resolution of the Board of Directors, and the
Trustee may amend or supplement this Indenture or the Securities without notice
to or consent of any Holder:

         (a)      to cure any ambiguity, defect or inconsistency; provided,
however, that such amendment or supplement does not adversely affect the rights
of any Holder;

         (b)      to effect the assumption by a successor Person of all
obligations of the Issuer or LIN TV under the Securities and this Indenture in
connection with any transaction complying with Article 10 of this Indenture;

         (c)      to provide for uncertificated Securities in addition to or in
place of certificated Securities;

         (d)      to comply with any requirements of the SEC in order to effect
or maintain the qualification of this Indenture under the TIA;

         (e)      to make any change that would provide any additional benefit
or rights to the Holders;

         (f)      to make any other change that does not adversely affect the
rights of any Holder under this Indenture;

         (g)      to add to the covenants of the Issuer for the benefit of the
Holders, or to surrender any right or power herein conferred upon the Issuer; or

         (h)      to reflect the release of a Guarantor from its obligations
with respect to its Guarantee in accordance with the provisions of Section 6.03
and to add a Guarantor pursuant to the requirements of Section 12.07;

provided, however, that the Issuer has delivered to the Trustee an Opinion of
Counsel stating that such amendment or supplement complies with the provisions
of this Section 11.01.

         Section 11.02. With Consent of Holders. Subject to Section 4.07, the
Issuer and the Guarantors, when authorized by a Board Resolution, and the
Trustee may modify, amend or supplement, or waive compliance by the Issuer with
any provision of, this Indenture or the Securities with the written consent of
the Holders of at least a majority in Principal Amount of the outstanding
Securities. However, without the consent of each Holder affected, no such

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<PAGE>

modification, amendment, supplement or waiver, including a waiver pursuant to
Section 4.04, may:

         (a)      reduce the Principal Amount of or change the Stated Maturity
Date of any Security or alter the provisions with respect to the repurchase or
redemption of the Securities;

         (b)      reduce the rate of or change the time for payment of interest
on any Security;

         (c)      make any Security payable in money other than that stated in
the Securities;

         (d)      make any change in the provisions of this Indenture relating
to the rights of Holders of Securities to receive payments of principal of or
premium, if any, or interest on the Securities or to bring suit to enforce such
payment;

         (e)      adversely affect the rights of Holders of the Securities under
the exchange provisions of this Indenture;

         (f)      reduce the percentage of the Principal Amount of outstanding
Securities necessary for amendment to or waiver of compliance with any provision
of this Indenture or the Securities or for waiver of any Default in respect
thereof;

         (g)      waive a Default or Event of Default in the payment of
principal of or premium, if any, or interest on the Securities (except a
rescission of acceleration of the Securities by the Holders thereof as provided
in Section 4.02 and a waiver of the payment default that resulted from such
acceleration);

         (h)      after the Issuer's obligation upon the occurrence of a
Fundamental Change to purchase the Securities arises under this Indenture,
amend, modify or change its obligation to make or consummate a purchase offer or
waive any default in the performance thereof or modify any of the provisions or
definitions with respect to any such offers; or

         (i)      modify the ranking or priority of any Security or the
Affiliate Guarantee in respect thereof of any Guarantor in any manner adverse to
the Holders of the Securities.

         It shall not be necessary for the consent of the Holders under this
Section 11.02 to approve the particular form of any proposed amendment,
supplement or waiver, but it shall be sufficient if such consent approves the
substance thereof.

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<PAGE>

         After an amendment, supplement or waiver under this Section 11.02
becomes effective, the Issuer shall mail to the Holders affected thereby a
notice briefly describing the amendment, supplement or waiver. Any failure of
the Issuer to mail such notice, or any defect therein, shall not, however, in
any way impair or affect the validity of any such amendment, supplement or
waiver.

         Section 11.03. Compliance with Trust Indenture Act. Every amendment to
or supplement of this Indenture or the Securities shall comply with the TIA as
then in effect.

         Section 11.04. Record Date for Consents and Effect of Consents. The
Issuer may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders of Securities entitled to consent to any amendment,
supplement or waiver. If a record date is fixed, then those persons who were
Holders of Securities at such record date (or their duly designated proxies),
and only those persons, shall be entitled to consent to such amendment,
supplement or waiver or to revoke any consent previously given, whether or not
such persons continue to be Holders of such Securities after such record date.
No such consent shall be valid or effective for more than 90 days after such
record date. The Trustee is entitled to rely upon any electronic instruction
from beneficial owners to the Holders of any Global Security.

         After an amendment, supplement or waiver becomes effective, it shall
bind every Holder, unless it makes a change described in any of clauses (a)
through (i) of Section 11.02. In that case the amendment, supplement or waiver
shall bind each Holder of a Security who has consented to it and every
subsequent Holder of a Security or portion of a Security that evidences the same
debt as the consenting Holder's Security.

         Section 11.05. Notation on or Exchange of Securities. If an amendment,
supplement or waiver changes the terms of a Security, the Trustee may require
the Holder of the Security to deliver it to the Trustee. The Trustee may place
an appropriate notation on the Security about the changed terms and return it to
the Holder. Alternatively, if the Issuer or the Trustee so determine, the Issuer
in exchange for the Security shall issue and the Trustee shall authenticate a
new Security that reflects the changed terms. Failure to make the appropriate
notation or issue a new Security shall not affect the validity and effect of
such amendment, supplement or waiver.

         Section 11.06. Trustee to Sign Amendments, Etc.. The Trustee shall be
entitled to receive, and shall be fully protected in relying upon, an Opinion of
Counsel stating that the execution of any amendment, supplement or waiver
authorized pursuant to this Article 11 is authorized or permitted by this
Indenture and that such amendment, supplement or waiver constitutes the legal,
valid and

                                       62

<PAGE>

binding obligation of the Issuer, enforceable in accordance with its terms
(subject to customary exceptions). The Trustee may, but shall not be obligated
to, execute any such amendment, supplement or waiver which affects the Trustee's
own rights, duties or immunities under this Indenture or otherwise. In signing
any amendment, supplement or waiver, the Trustee shall be entitled to receive an
indemnity reasonably satisfactory to it.

                                   ARTICLE 12
                             COVENANTS OF THE ISSUER

         Section 12.01. Payment of Principal, Premium and Interest. The Issuer
covenants and agrees that it will duly and punctually pay or cause to be paid
all payments in respect of the Securities in accordance with the terms of the
Securities and this Indenture. Any amounts to be given to the Trustee or Paying
Agent shall be deposited with the Trustee or Paying Agent by 11:00 a.m. New York
City time by the Issuer at the latest on the day such payment is due. Principal
Amount, Redemption Price, Purchase Price, Fundamental Change Purchase Price and
interest (including Contingent Interest and Liquidated Damages, if any), shall
be considered paid on the applicable date due if on such date (or, in the case
of a Purchase Price or Fundamental Change Purchase Price, on the Business Day
following the applicable Purchase Date or Fundamental Change Purchase Date, as
the case may be) the Trustee or the Paying Agent holds, in accordance with this
Indenture, money or securities, if permitted hereunder, sufficient to pay all
such amounts then due.

         Section 12.02. Maintenance of Office or Agency. The Issuer shall
maintain an office or agency of the Trustee, Registrar, Paying Agent and
Exchange Agent where the Securities may be presented or surrendered for payment,
where the Securities may be surrendered for registration of transfer or
exchange, where the Securities may be surrendered for purchase, redemption or
exchange and where notices and demands to or upon the Issuer in respect of the
Securities and this Indenture may be served. The office of the Paying Agent, at
101 Barclay Street, 8W, New York, NY 10286, Attention: Corporate Trust Officer,
shall initially be such office or agency for all of the aforesaid purposes. The
Issuer will give prompt written notice to the Trustee of the location, and any
change in the location, of such office or agency. If at any time the Issuer
shall fail to maintain any such required office or agency or shall fail to
furnish the Trustee with the address thereof, such presentations, surrenders,
notices and demands may be made or served at the Corporate Trust Office of the
Trustee, and the Issuer hereby appoints the Trustee as its agent to receive all
such presentations, surrenders, notices and demands.

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<PAGE>

         The Issuer may also from time to time designate one or more other
offices or agencies where the Securities may be presented or surrendered for any
or all such purposes and may from time to time rescind such designations.

         Section 12.03. Money for Securities Payments to be Held in Trust. If
the Issuer shall at any time act as its own Paying Agent with respect to the
Securities, it will, on or before each due date of the Principal Amount,
Redemption Price, Purchase Price, Fundamental Change Purchase Price and interest
(including Contingent Interest and Liquidated Damages, if any) on any of the
Securities, segregate and hold in trust for the benefit of the Persons entitled
thereto a sum sufficient to pay such sums so becoming due until such sums shall
be paid to such Persons or otherwise disposed of as herein provided. The Issuer
will promptly notify the Trustee of any failure by the Issuer to take such
action or failure so to act.

         Whenever the Issuer shall have one or more Paying Agents for the
Securities, it will, on or prior to each due date of the Principal Amount,
Redemption Price, Purchase Price, Fundamental Change Purchase Price and interest
(including Contingent Interest and Liquidated Damages, if any) on any
Securities, deposit with a Paying Agent a sum sufficient to pay such amounts so
becoming due, such sum to be held in trust for the benefit of the Persons
entitled to such amounts, and (unless such Paying Agent is the Trustee) the
Issuer will promptly notify the Trustee of its action or failure so to act.

         The Issuer will cause each Paying Agent, other than the Trustee or an
Affiliate of the Issuer, to execute and deliver to the Trustee an instrument in
which such Paying Agent shall agree with the Trustee, subject to the provisions
of this Section 12.03, that such Paying Agent will:

                  (i)      hold all sums held by it for the payment of the
         Principal Amount, Redemption Price, Purchase Price, Fundamental Change
         Purchase Price and interest (including Contingent Interest and
         Liquidated Damages, if any) on the Securities (whether such sums have
         been paid to it by the Issuer or by any other obligor on the
         Securities) in trust for the benefit of the Persons entitled thereto;

                  (ii)     give the Trustee notice of any failure by the Issuer
         (or any other obligor upon the Securities) to make any payment of the
         Principal Amount, Redemption Price, Purchase Price, Fundamental Change
         Purchase Price and interest (including Contingent Interest and
         Liquidated Damages, if any) on the Securities when the same shall be
         due and payable; and

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<PAGE>

                  (iii)    at any time during the continuance of any Event of
         Default, upon the written request of the Trustee, forthwith pay to the
         Trustee all sums so held in trust by such Paying Agent.

         Anything in this Section 12.03 to the contrary notwithstanding, the
Issuer may, at any time, for the purpose of obtaining satisfaction and discharge
of this Indenture, or for any other reason, pay, or by Issuer Order direct any
Paying Agent to pay, to the Trustee all sums held in trust by the Issuer or such
Paying Agent, such sums to be held by the Trustee upon the same trusts as those
upon which such sums were held by the Issuer or such Paying Agent; and, upon
such payment by any Paying Agent to the Trustee, such Paying Agent shall be
released from all further liability with respect to such money.

         Section 12.04. Compliance Certificate. The Issuer shall deliver to the
Trustee within 120 days after the close of each fiscal year an Officers'
Certificate stating that a review of the activities of the Issuer has been made
under the supervision of the signing officer with a view to determining whether
a Default or Event of Default has occurred and whether or not the signers know
of any Default or Event of Default by the Issuer that occurred during such
fiscal year and if they do know of such a Default or Event of Default, their
status and the action the Issuer is taking or proposes to take with respect
thereto. The first certificate to be delivered by the Issuer pursuant to this
Section 12.04 shall be for the fiscal year ending December 31, 2003.

         Section 12.05. Calculation of Original Issue Discount. The Issuer shall
file with the Trustee promptly at the end of each calendar year (i) a written
notice specifying the amount of original issue discount (including daily rates
and accrual periods) accrued on the Securities as of the end of such year and
(ii) such other specific information relating to such original issue discount as
may then be reasonably requested by the Trustee and relevant under the Internal
Revenue Code of 1986, as amended from time to time.

         Section 12.06. Further Instruments and Acts. The Issuer will execute
and deliver such further instruments and do such further acts as may be
reasonably necessary or proper or as the Trustee may request to carry out more
effectively the purposes of this Indenture.

         Section 12.07. Affiliate Guarantees By Restricted Subsidiaries.

         (a)      The Issuer shall not create or acquire, nor cause or permit
any of its Restricted Subsidiaries, directly or indirectly, to create or
acquire, any Subsidiary other than (1) an Unrestricted Subsidiary in accordance
with the other terms of this Indenture or (2) a Restricted Subsidiary that,
either (i) simultaneously with such creation or acquisition, (x) executes and
delivers to the Trustee a supplemental indenture to this Indenture pursuant to
which it will

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become a Guarantor in accordance with Article 6 hereof and (y) delivers to the
Trustee an Opinion of Counsel that such supplemental indenture has been duly
authorized, executed and delivered by such Restricted Subsidiary and constitutes
a valid, binding and enforceable obligation of such Restricted Subsidiary (which
opinion may be subject to customary assumptions and qualifications) or (ii) does
not satisfy the definition of Guarantor.

         (b)      Any Unrestricted Subsidiary that is redesignated as a
Restricted Subsidiary shall upon such redesignation be required to become a
Guarantor in accordance with the requirements of Section 12.07(a)(2).

                                   ARTICLE 13
                            REDEMPTION OF SECURITIES

         Section 13.01. Right to Redeem; Notices to Trustee. Prior to May 20,
2008, the Securities shall not be redeemable at the option of the Issuer.
Beginning on May 20, 2008 and until the Stated Maturity Date, the Securities are
redeemable for cash as a whole, or from time to time in part, at the option of
the Issuer at the Redemption Price; provided that if the Redemption Date is any
day during the period from the close of business on any Regular Record Date
immediately preceding any Interest Payment Date to the close of business on such
Interest Payment Date, accrued and unpaid interest (including Contingent
Interest or Liquidated Damages, if any) shall be paid to the Holder of record as
of the applicable Regular Record Date, rather than to the Holder presenting the
Security for redemption. If the Issuer elects to redeem Securities, it shall
notify the Trustee in writing of the Redemption Date, the Principal Amount of
Securities to be redeemed and the Redemption Price.

         The Issuer shall give the notice to the Trustee provided for in this
Section 13.01 by a Issuer Order at least 30 days before the Redemption Date.

         Section 13.02. Selection of Securities to Be Redeemed. If less than all
the Securities are to be redeemed, the Trustee shall select the Securities to be
redeemed pro rata or by lot or by any other method the Trustee considers fair
and appropriate (so long as such method is not prohibited by the rules of any
stock exchange on which the Securities are then listed). The Trustee shall make
the selection at least 15 days but not more than 60 days before the Redemption
Date from outstanding Securities not previously called for redemption. The
Trustee may select for redemption portions of the Principal Amount of Securities
that have denominations equal to or larger than $1,000. Securities and portions
of them the Trustee selects shall be in Principal Amounts of $1,000 or an
integral multiple of $1,000. Provisions of this Indenture that apply to
Securities called for redemption also apply to portions of Securities called for
redemption. The

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Trustee shall notify the Issuer promptly of the Securities or portions of
Securities to be redeemed.

         Section 13.03. Notice of Redemption. At least 30 days but not more than
60 days before a Redemption Date, the Issuer shall mail a notice of redemption
by first-class mail, postage prepaid, to each Holder of Securities to be
redeemed.

         The notice shall identify the Securities to be redeemed and shall at a
minimum state:

         (a)      the Redemption Date;

         (b)      the Redemption Price;

         (c)      the Exchange Rate;

         (d)      the name and address of the Paying Agent and Exchange Agent;

         (e)      that Securities called for redemption may be exchanged at any
time before the close of business on the Business Day immediately preceding the
Redemption Date;

         (f)      that Holders who want to exchange Securities must satisfy the
requirements set forth in the applicable provisions of the Securities;

         (g)      that Securities called for redemption must be surrendered to
the Paying Agent to collect the Redemption Price;

         (h)      if fewer than all the outstanding Securities are to be
redeemed, the certificate number and Principal Amounts of the particular
Securities to be redeemed;

         (i)      that, unless the Issuer defaults in making payment of such
Redemption Price, interest (including Contingent Interest and Liquidated
Damages, if any) on Securities called for redemption will cease to accrue on and
after the Redemption Date; and

         (j)      the CUSIP number of the Securities.

         At the Issuer's request, the Trustee shall give the notice of
redemption in the Issuer's name and at the Issuer's expense, provided that the
Issuer makes such request at least three Business Days prior to such notice of
redemption.

         If the Issuer redeems fewer than all of the outstanding Securities, the
Trustee may select the Securities by lot, pro rata, or by another method the

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Trustee considers fair and appropriate. If the Trustee selects a portion of a
Holder's Securities for partial redemption and such Holder exchanges a portion
of such Securities, the exchanged portion will be deemed, to the extent
practicable, to be the portion selected for redemption.

         Section 13.04. Effect of Notice of Redemption. Once notice of
redemption is mailed, Securities called for redemption become due and payable on
the Redemption Date and at the Redemption Price stated in the notice, except for
Securities which are exchanged in accordance with the terms of this Indenture.
Upon surrender to the Paying Agent, such Securities shall be paid at the
Redemption Price stated in the notice.

         Section 13.05. Deposit of Redemption Price. Prior to 11:00 a.m., New
York City time on the Redemption Date, the Issuer shall deposit with the Paying
Agent (or if the Issuer or a Subsidiary or an Affiliate of either of them is the
Paying Agent, shall segregate and hold in trust) money sufficient to pay the
Redemption Price of all Securities to be redeemed on that date other than
Securities or portions of Securities called for redemption which on or prior
thereto have been delivered by the Issuer to the Trustee for cancellation or
have been exchanged. The Paying Agent shall as promptly as practicable return to
the Issuer any money not required for that purpose. If such money is then held
by the Issuer in trust and is not required for such purpose it shall be
discharged from such trust.

         Section 13.06. Securities Redeemed in Part. Upon surrender of a
Security that is redeemed in part, the Issuer shall execute and the Trustee
shall authenticate and deliver to the Holder a new Security in an authorized
denomination equal in Principal Amount to the unredeemed portion of the Security
surrendered.

         Section 13.07. Exchange Arrangement on Call for Redemption. In
connection with any redemption of Securities, the Issuer may arrange for the
purchase and exchange of any Securities called for redemption by an agreement
with one or more investment bankers or other purchasers to purchase such
Securities by paying to a Paying Agent in trust for the Holders, on or before
11:00 A.M. New York City time on the Redemption Date, an amount that, together
with any amounts deposited with such Paying Agent by the Issuer for the
redemption of such Securities, is not less than the Redemption Price of such
Securities. Notwithstanding anything to the contrary contained in this Article,
the obligation of the Issuer to pay the Redemption Price of such Securities
shall be deemed to be satisfied and discharged to the extent such amount is so
paid by such purchasers; provided, however, that nothing in this Section 13.07
shall relieve the Issuer of its obligation to pay the Redemption Price of the
Securities called for redemption. If such an agreement is entered into, any
Securities called

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for redemption and not surrendered for exchange by the Holders thereof prior to
the relevant Redemption Date may, at the option of the Issuer upon written
notice to the Trustee, be deemed, to the fullest extent permitted by law,
acquired by such purchasers from such Holders and (notwithstanding anything to
the contrary contained in Article 14) surrendered by such purchasers for
exchange, all as of immediately prior to the close of business on the Business
Day immediately prior to the Redemption Date, subject to payment of the above
amount as aforesaid. The Paying Agent shall hold and pay to the Holders whose
Securities are selected for redemption any such amount paid to it for purchase
in the same manner as it would money deposited with it by the Issuer for the
redemption of the Securities. Without the Paying Agent's prior written consent,
no arrangement between the Issuer and such purchasers for the purchase and
exchange of any Securities shall increase or otherwise affect any of the powers,
duties, responsibilities or obligations of the Paying Agent as set forth in this
Indenture, and the Issuer agrees to indemnify the Paying Agent from, and hold it
harmless against, any loss, liability or expense arising out of or in connection
with any such arrangement for the purchase and exchange of any Securities
between the Issuer and such purchasers, including the costs and expenses
incurred by the Paying Agent in the defense of any claim or liability reasonably
incurred without negligence or bad faith on its part arising out of or in
connection with the exercise or performance of any of its powers, duties,
responsibilities or obligations under this Indenture, in accordance with the
indemnity provisions applicable to the Trustee set forth herein.

                                   ARTICLE 14
                                    EXCHANGE

         Section 14.01. Exchange Rights. The Securities shall be exchangeable in
accordance with their terms and in accordance with and subject to this Article
into a number of shares of Common Stock per $1,000 Principal Amount of
Securities equal to the Exchange Rate (except in the case of a Principal Value
Exchange).

         A Holder of a Security otherwise entitled to a fractional share upon
the exchange thereof shall receive cash in an amount equal to the value of such
fractional share based on the Applicable Stock Price with respect to such
exchange.

         Upon determination that Holders are or will be entitled to exchange
their Securities pursuant to this Article 14, the Issuer shall issue a press
release and publish such determination on the Issuer's Web site on the World
Wide Web.

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         Holders may surrender Securities for exchange into shares of Common
Stock only if at least one of the conditions described in Section 14.02 through
Section 14.06 is satisfied. In addition, a Security in respect of which a Holder
has delivered a Purchase Notice or Fundamental Change Purchase Notice exercising
the option of such Holder to require the Issuer to purchase such Security may be
exchanged only if such notice of exercise is withdrawn in accordance with the
terms of the Indenture.

         Section 14.02. Exchange Rights Based on Common Stock Price. Commencing
after June 30, 2003, a Holder may surrender Securities or portions of Securities
in integral multiples of $1,000 Principal Amount for exchange into Common Stock
in any fiscal quarter (and only during such fiscal quarter), if, as of the last
day of the preceding fiscal quarter, the Closing Sale Price of the Common Stock
for at least 20 Trading Days in a period of 30 consecutive Trading Days ending
on the last Trading Day of such preceding fiscal quarter is more than 120% of
the Base Exchange Price as of the last day of such preceding fiscal quarter.

         Section 14.03. Exchange Rights Upon Credit Rating Events. Securities
may be surrendered for exchange in integral multiples of $1,000 Principal Amount
during any period in which (1) the credit rating assigned to the Securities by
S&P is below B-, (2) the credit rating assigned to the Securities by Moody's is
below B3 or (3) either S&P or Moody's does not assign a rating to the
Securities; provided, however, that Securities may not be surrendered for
exchange pursuant to this Section 14.03 solely upon the occurrence of any event
whereby S&P or Moody's ceases to assign credit ratings to all securities of any
kind.

         Section 14.04. Exchange Rights Upon Notice of Redemption. Holders may
surrender for exchange in integral multiples of $1,000 Principal Amount any
Securities called for redemption under Article 13 hereof at any time prior to
the close of business on the Business Day immediately preceding the Redemption
Date, even if the Securities are not otherwise exchangeable at such time.

         Section 14.05. Exchange Rights Upon Occurrence of Certain Corporate
Transactions.

         If LIN TV is a party to a consolidation, merger or binding share
exchange pursuant to which shares of Common Stock would be converted into cash,
securities or other property, any Security may be surrendered for exchange in
integral multiples of $1,000 Principal Amount at any time from and after the
date that is 15 days prior to the anticipated effective date of the transaction
until 15 days after the actual date of such transaction and, at the effective
time of the

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<PAGE>

transaction, the right to exchange a Security into shares of Common Stock shall
be changed into a right to exchange such Security into the kind and amount of
cash, securities or other property of LIN TV or another Person that the Holder
would have received if the Holder had exchanged such Security immediately prior
to the transaction.

         If LIN TV distributes to all holders of Common Stock (1) rights or
warrants entitling them to purchase, for a period expiring within 45 days of the
record date for such distribution, Common Stock at less than the average Closing
Sale Price for the 10 Trading Days preceding the declaration date for such
distribution, or (2) cash, assets, debt securities or rights to purchase LIN TV
securities, which distribution has a per share value exceeding 5% of the Closing
Sale Price of the Common Stock on the Trading Day immediately preceding the
declaration date for such distribution, the Securities may be surrendered for
exchange in integral multiples of $1,000 Principal Amount beginning on the date
that the Issuer gives notice to the Holders of such right, which shall not be
less than 20 days prior to the time ("EX-DIVIDEND TIME") immediately prior to
the commencement of "ex-dividend" trading for such distribution on the New York
Stock Exchange or such other principal national or regional exchange or market
on which the Common Stock is then listed or quoted for such dividend or
distribution, and Securities may be surrendered for exchange at any time
thereafter until the earlier of close of business on the Business Day prior to
the Ex-Dividend Time and the date LIN TV announces that such dividend or
distribution will not take place. Notwithstanding the foregoing, Holders shall
not have the right to surrender Securities for exchange pursuant to this Section
14.05 if they will otherwise participate in the distribution described above
without first exchanging Securities into Common Stock.

         Section 14.06. Exchange Upon Satisfaction of Trading Price Condition.

         (a)      Securities may be surrendered for exchange in integral
multiples of $1,000 Principal Amount any time during the five Business Day
period after any five consecutive Trading Day period in which the Trading Price
per $1,000 Principal Amount of the Securities for each day of such five Trading
Day period was less than 98% of the product of the Closing Sale Price and the
Exchange Rate as of such Trading Day (determined based on such Closing Sale
Price rather than the Applicable Stock Price).

         (b)      Notwithstanding the foregoing, if, on the date of any exchange
pursuant to Section 14.06(a) that is on or after May 15, 2028, the Closing Sale
Price of the Common Stock is greater than the Effective Exchange Price, the
Holders of Securities surrendered for exchange shall receive, in lieu of Common
Stock based on the Exchange Rate, Common Stock with a value equal to the
Principal Amount of Securities plus accrued and unpaid interest, if any,

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including Contingent Interest and Liquidated Damages, if any, as of the Exchange
Date ("PRINCIPAL VALUE EXCHANGE"). Common Stock delivered upon a Principal Value
Exchange will be valued at the greater of the Effective Exchange Price on the
Exchange Date and the Applicable Stock Price as of the Exchange Date and will be
delivered no later than the third Business Day following the determination of
the Applicable Stock Price.

         (c)      In connection with any exchange pursuant to this Section
14.06, the Trustee shall not have any obligation to determine the Trading Price
of the Securities unless the Issuer has requested such determination and the
Issuer shall have no obligation to make such request unless a Holder provides
the Issuer with reasonable evidence that the Trading Price per Security would be
less than 98% of the product of the Closing Sale Price of the Common Stock and
the Exchange Rate then in effect (determined based on such Closing Sale Price
rather than the Applicable Stock Price). At such time, the Issuer shall instruct
the Trustee to determine the Trading Price of the Securities beginning on the
next Trading Day and on each successive Trading Day until the Trading Price per
such Security is greater than or equal to 98% of the product of the Closing Sale
Price of the Common Stock and the Exchange Rate as of such Trading Day
(determined based on such Closing Sale Price rather than the Applicable Stock
Price).

         Section 14.07. Exchange Procedures. To exchange a Security, a Holder
must (a) complete and manually sign the Exchange Notice or a facsimile of the
exchange notice on the back of the Security (the "EXCHANGE NOTICE") and deliver
such notice to the Exchange Agent, (b) surrender the Security to a Exchange
Agent, (c) furnish appropriate endorsements and transfer documents if required
by the Registrar or the Exchange Agent, (d) pay any transfer or similar tax, if
required and (e) if required, pay funds equal to the interest payable on the
next Interest Payment Date. The date on which the Holder satisfies all of those
requirements is the "EXCHANGE DATE." The Issuer shall deliver to the Holder
through the Exchange Agent, no later than the third Business Day following the
date on which the Applicable Stock Price is determined, a certificate for the
number of whole shares of Common Stock issuable upon the exchange and, if
applicable, cash in lieu of any fractional shares pursuant to Section 14.08.
Anything herein to the contrary notwithstanding, in the case of Global
Securities, Exchange Notices may be delivered and such Securities may be
surrendered for exchange in accordance with the applicable procedures of the
Depositary as in effect from time to time. The Person in whose name the Common
Stock certificate is registered shall be deemed to be a shareholder of record at
the close of business on the date on which the Applicable Stock Price is
determined with respect to the applicable Exchange Date; provided, however, that
if any such date is a date when the stock transfer books of LIN TV are closed,
such Person shall be deemed a shareholder of record as of the next date on which
the stock transfer books of LIN TV are open.

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         No payment or adjustment shall be made for dividends on, or other
distributions with respect to, any Common Stock except as provided in this
Article. On exchange of a Security, except for exchange during the period from
the close of business on any Regular Record Date immediately preceding any
Interest Payment Date to the close of business on the Business Day immediately
preceding such Interest Payment Date, in which case the Holder on such Regular
Record Date shall receive the interest payable on such Interest Payment Date,
that portion of accrued and unpaid interest, including Contingent Interest, if
any, on the exchanged Security attributable to the period from the most recent
Interest Payment Date (or, if no Interest Payment Date has occurred, from the
Issue Date) through the Exchange Date shall not be cancelled, extinguished or
forfeited, but rather shall be deemed to be paid in full to the Holder thereof
through delivery of the Common Stock (together with the cash payment, if any, in
lieu of fractional shares) in exchange for the Security being exchanged pursuant
to the provisions hereof, and the fair market value of such shares of Common
Stock (together with any such cash payment in lieu of fractional shares) shall
be treated as issued, to the extent thereof, first in exchange for accrued and
unpaid interest (including Contingent Interest, if any) accrued through the
Exchange Date and the balance, if any, of such fair market value of such Common
Stock (and any such cash payment) shall be treated as issued in exchange for the
Principal Amount of the Security being exchanged pursuant to the provisions
hereof.

         The Issuer agrees, and by acceptance of a beneficial interest in a
Security each Holder and any beneficial owner of a Security shall be deemed to
agree, to treat, for United States federal income tax purposes, the fair market
value of the Common Stock received upon the exchange of a Security (together
with any cash payment in lieu of fractional shares) as a contingent payment on
the Security for purposes of Treasury Regulation Section 1.1275-4(b).

         If a Holder exchanges more than one Security at the same time, the
number of shares of Common Stock issuable upon the exchange shall be based on
the aggregate Principal Amount of Securities exchanged.

         Upon surrender of a Security that is exchanged in part, the Issuer
shall execute, and the Trustee shall authenticate and deliver to the Holder, a
new Security equal in principal amount equal to the Principal Amount of the
unexchanged portion of the Security surrendered.

         Section 14.08. Fractional Shares. The Issuer shall not deliver a
fractional share of Common Stock upon exchange of a Security. Instead, the
Issuer will deliver cash for the current market value of the fractional share.
The current market value of a fractional share of Common Stock shall be
determined, to the nearest 1/1,000th of a share, by multiplying the Applicable
Stock Price in

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effect with respect to the applicable Exchange Date of a full
share of Common Stock by the fractional amount and rounding the product to the
nearest whole cent.

         Section 14.09. Taxes on Exchange. If a Holder exchanges a Security,
the Issuer shall pay any documentary, stamp or similar issue or transfer tax due
on the delivery of shares of Common Stock upon such exchange. However, the
Holder shall pay any such tax which is due because the Holder requests the
shares to be delivered in a name other than the Holder's name. The Exchange
Agent may refuse to deliver the certificate representing the Common Stock being
delivered in a name other than the Holder's name until the Exchange Agent
receives a sum sufficient to pay any tax which will be due because the shares
are to be delivered in a name other than the Holder's name. Nothing herein shall
preclude any tax withholding required by law or regulation.

         Section 14.10. Reservation of Shares, Shares to Be Fully Paid;
Compliance with Governmental Requirements; Listing of Common Stock.

         (a)      Before taking any action which would cause an adjustment
increasing the Exchange Rate to an amount that would cause the Exchange Price to
be reduced below the then par value, if any, of the shares of Common Stock
deliverable upon exchange of the Securities, the Issuer and LIN TV will take all
corporate action which may, in the opinion of their counsel, be necessary in
order that the Issuer may validly and legally deliver shares of such Common
Stock at such adjusted Exchange Rate.

         (b)      (i)      The Issuer and LIN TV covenant that all shares of
Common Stock which may be delivered upon exchange of Securities shall have been
duly authorized and upon issue and delivery in accordance with the terms of this
Indenture shall be validly issued, fully paid and non-assessable by LIN TV and
free from all taxes, Liens, preemptive or similar rights and charges with
respect to the issue thereof.

                  (ii)     The Issuer and LIN TV covenant that, if any shares of
         Common Stock to be provided for the purpose of exchange of Securities
         hereunder require registration with or approval of any governmental
         authority under any federal or state law before such shares may be
         validly issued upon exchange, the Issuer and LIN TV will in good faith
         and as expeditiously as possible, to the extent then permitted by the
         rules and interpretations of the Securities and Exchange Commission (or
         any successor thereto), endeavor to secure such registration or
         approval, as the case may be.

         (c)      LIN TV further covenants that, if at any time the Common Stock
shall be listed on the NYSE or any other national securities exchange or

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automated quotation system, LIN TV will, if permitted by the rules of such
exchange or automated quotation system, list and keep listed, so long as the
Common Stock shall be so listed on such exchange or automated quotation system,
all Common Stock issuable upon exchange of the Security; provided, however,
that, if the rules of such exchange or automated quotation system permit LIN TV
to defer the listing of such Common Stock until the first exchange of the
Securities into Common Stock in accordance with the provisions of this
Indenture, LIN TV covenants to list such Common Stock issuable upon exchange of
the Securities in accordance with the requirements of such exchange or automated
quotation system at such time.

         Section 14.11. Adjustment of Exchange Rate. The Base Exchange Rate
shall be adjusted from time to time by the Issuer as follows:

         (a)      In case LIN TV shall hereafter pay a dividend or make a
distribution to all holders of the outstanding Common Stock in shares of Common
Stock, the Base Exchange Rate shall be increased so that the same shall equal
the rate determined by multiplying the Base Exchange Rate in effect at the
opening of business on the date following the date fixed for the determination
of stockholders entitled to receive such dividend or other distribution by a
fraction,

                  (i)      the numerator of which shall be the sum of the number
         of shares of Common Stock outstanding at the close of business on the
         date fixed for the determination of stockholders entitled to receive
         such dividend or other distribution plus the total number of shares of
         Common Stock constituting such dividend or other distribution; and

                  (ii)     the denominator of which shall be the number of
         shares of Common Stock outstanding at the close of business on the date
         fixed for such determination,

such increase to become effective immediately after the opening of business on
the day following the date fixed for such determination. If any dividend or
distribution of the type described in this Section 14.11(a) is declared but not
so paid or made, the Base Exchange Rate shall again be adjusted to the Base
Exchange Rate that would then be in effect if such dividend or distribution had
not been declared.

         (b)      In case LIN TV shall issue rights or warrants to all holders
of its outstanding shares of Common Stock entitling them (for a period expiring
within forty-five (45) days after the date fixed for determination of
stockholders entitled to receive such rights or warrants) to subscribe for or
purchase shares of Common Stock at a price per share less than the average of
the Closing Sale Prices of the Common Stock for the 10 Trading Days preceding
the declaration

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<PAGE>

date for such distribution, the Base Exchange Rate shall be increased so that
the same shall equal the rate determined by multiplying the Base Exchange Rate
in effect immediately prior to the date fixed for determination of stockholders
entitled to receive such rights or warrants by a fraction,

                  (i)      the numerator of which shall be the number of shares
         of Common Stock outstanding on the date fixed for determination of
         stockholders entitled to receive such rights or warrants plus the total
         number of additional shares of Common Stock offered for subscription or
         purchase, and

                  (ii)     the denominator of which shall be the sum of the
         number of shares of Common Stock outstanding at the close of business
         on the date fixed for determination of stockholders entitled to receive
         such rights or warrants plus the number of shares that the aggregate
         offering price of the total number of shares so offered would purchase
         at a price equal to the average of the Closing Sale Prices of the
         Common Stock for the 10 Trading Days preceding the declaration date for
         such distribution.

         Such adjustment shall be successively made whenever any such rights or
warrants are issued, and shall become effective immediately after the opening of
business on the day following the date fixed for determination of stockholders
entitled to receive such rights or warrants. To the extent that shares of Common
Stock are not delivered after the expiration of such rights or warrants, the
Base Exchange Rate shall be readjusted to the Base Exchange Rate that would then
be in effect had the adjustments made upon the issuance of such rights or
warrants been made on the basis of delivery of only the number of shares of
Common Stock actually delivered. If such rights or warrants are not so issued,
the Base Exchange Rate shall again be adjusted to be the Base Exchange Rate that
would then be in effect if such date fixed for the determination of stockholders
entitled to receive such rights or warrants had not been fixed. In determining
whether any rights or warrants entitle the holders to subscribe for or purchase
shares of Common Stock at a price less than the average of the Closing Sale
Prices of the Common Stock for the 10 Trading Days preceding the declaration
date for such distribution, and in determining the aggregate offering price of
such shares of Common Stock, there shall be taken into account any consideration
received by LIN TV for such rights or warrants and any amount payable on
exercise or exchange thereof, the value of such consideration, if other than
cash, to be determined by the Board of Directors.

         (c)      In case outstanding shares of Common Stock shall be subdivided
into a greater number of shares of Common Stock, the Base Exchange Rate in
effect at the opening of business on the day following the day upon which such
subdivision becomes effective shall be proportionately increased, and

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conversely, in case outstanding shares of Common Stock shall be combined into a
smaller number of shares of Common Stock, the Base Exchange Rate in effect at
the opening of business on the day following the day upon which such combination
becomes effective shall be proportionately reduced, such increase or reduction,
as the case may be, to become effective immediately after the opening of
business on the day following the day upon which such subdivision or combination
becomes effective.

         (d)      In case LIN TV shall, by dividend or otherwise, distribute to
all holders of its Common Stock shares of any class of capital stock of LIN TV
or evidences of its indebtedness or assets (including securities, but excluding
(x) any rights or warrants referred to in Section 14.11(b), (y) any dividend or
distribution (I) paid exclusively in cash or (II) referred to in Section
14.11(a) and (z) any distribution referred to in Section 14.11(g)) (any of the
foregoing hereinafter in this Section 14.11(d) called the "DISTRIBUTED
PROPERTY")), then, in each such case, the Base Exchange Rate shall be increased
so that the same shall be equal to the rate determined by multiplying the Base
Exchange Rate in effect on the Record Date with respect to such distribution by
a fraction,

                  (i)      the numerator of which shall be the Current Market
         Price on such Record Date; and

                  (ii)     the denominator of which shall be the Current Market
         Price on such Record Date less the Fair Market Value (as determined by
         the Board of Directors, whose determination shall be conclusive, and
         described in a resolution of the Board of Directors) on the Record Date
         of the portion of the Distributed Property so distributed applicable to
         one share of Common Stock,

such adjustment to become effective immediately prior to the opening of business
on the day following such Record Date; provided that if the then Fair Market
Value (as so determined) of the portion of the Distributed Property so
distributed applicable to one share of Common Stock is equal to or greater than
the Current Market Price on the Record Date, in lieu of the foregoing
adjustment, adequate provision shall be made so that each Holder shall have the
right to receive upon exchange the amount of Distributed Property such Holder
would have received had such holder exchanged each Security on the Record Date.
If such dividend or distribution is not so paid or made, the Base Exchange Rate
shall again be adjusted to be the Base Exchange Rate that would then be in
effect if such dividend or distribution had not been declared. If the Board of
Directors determines the Fair Market Value of any distribution for purposes of
this Section 14.11(d) by reference to the actual or when issued trading market
for any securities, it must in doing so consider the prices in such market over
the

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same period used in computing the Current Market Price on the applicable Record
Date.

         Rights or warrants distributed by LIN TV to all holders of Common Stock
entitling the holders thereof to subscribe for or purchase shares of LIN TV's
capital stock (either initially or under certain circumstances), which rights or
warrants, until the occurrence of a specified event or events ("TRIGGER EVENT"):
(i) are deemed to be transferred with such shares of Common Stock; (ii) are not
exercisable; and (iii) are also issued in respect of future issuances of Common
Stock, shall be deemed not to have been distributed for purposes of this Section
14.11 (and no adjustment to the Base Exchange Rate under this Section 14.11 will
be required) until the occurrence of the earliest Trigger Event, whereupon such
rights and warrants shall be deemed to have been distributed and an appropriate
adjustment (if any is required) to the Base Exchange Rate shall be made under
this Section 14.11(d). If any such right or warrant, including any such existing
rights or warrants distributed prior to the date of this Indenture, are subject
to events, upon the occurrence of which such rights or warrants become
exercisable to purchase different securities, evidences of indebtedness or other
assets, then the date of the occurrence of any and each such event shall be
deemed to be the date of distribution and record date with respect to new rights
or warrants with such rights (and a termination or expiration of the existing
rights or warrants without exercise by any of the holders thereof). In addition,
in the event of any distribution (or deemed distribution) of rights or warrants,
or any Trigger Event or other event (of the type described in the preceding
sentence) with respect thereto that was counted for purposes of calculating a
distribution amount for which an adjustment to the Base Exchange Rate under this
Section 14.11 was made, (1) in the case of any such rights or warrants that
shall all have been redeemed or repurchased without exercise by any holders
thereof, the Base Exchange Rate shall be readjusted upon such final redemption
or repurchase to give effect to such distribution or Trigger Event, as the case
may be, as though it were a cash distribution, equal to the per share redemption
or repurchase price received by a holder or holders of Common Stock with respect
to such rights or warrants (assuming such holder had retained such rights or
warrants), made to all holders of Common Stock as of the date of such redemption
or repurchase, and (2) in the case of such rights or warrants that shall have
expired or been terminated without exercise thereof, the Base Exchange Rate
shall be readjusted as if such expired or terminated rights and warrants had not
been issued.

         For purposes of this Section 14.11(d) and Section 14.11(a) and (b), any
dividend or distribution to which this Section 14.11(d) is applicable that also
includes shares of Common Stock, or rights or warrants to subscribe for or
purchase shares of Common Stock (or both), shall be deemed instead to be (1) a
dividend or distribution of the evidences of indebtedness, assets or shares of

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capital stock other than such shares of Common Stock or rights or warrants (and
any Base Exchange Rate adjustment required by this Section 14.11(d) with respect
to such dividend or distribution shall then be made) immediately followed by (2)
a dividend or distribution of such shares of Common Stock or such rights or
warrants (and any further Base Exchange Rate adjustment required by Sections
14.11(a) and 14.11(b) with respect to such dividend or distribution shall then
be made), except (A) the Record Date of such dividend or distribution shall be
substituted as "the date fixed for the determination of stockholders entitled to
receive such dividend or other distribution", "the date fixed for the
determination of stockholders entitled to receive such rights or warrants" and
"the date fixed for such determination" within the meaning of Section 14.11(a)
and 14.11(b) and (B) any shares of Common Stock included in such dividend or
distribution shall not be deemed "outstanding at the close of business on the
date fixed for such determination" within the meaning of Section 14.11(a).

         (e)      In case LIN TV shall, by dividend or otherwise, distribute to
all holders of its Common Stock cash, excluding any dividend or distribution in
connection with the liquidation, dissolution or winding up of LIN TV, whether
voluntary or involuntary, to the extent that the aggregate amount of cash
distributions per share of Common Stock in any twelve month period exceeds the
greater of (x) the annualized amount per share of Common Stock of the next
preceding quarterly cash dividend on the Common Stock to the extent that such
preceding quarterly dividend did not require any adjustment of the Base Exchange
Rate pursuant to this Section 14.11(e) (as adjusted to reflect subdivisions, or
combinations of the Common Stock), and (y) 5% of the average of the Closing Sale
Price during the ten Trading Days immediately prior to the date of declaration
of such dividend, then, in such case, the Base Exchange Rate shall be increased
so that the same shall equal the rate determined by multiplying the Base
Exchange Rate in effect immediately prior to the close of business on such
record date by a fraction,

                  (i)      the numerator of which shall be the Current Market
         Price on such record date; and

                  (ii)     the denominator of which shall be the Current Market
         Price on such record date less the amount of cash so distributed (in
         the case of a distribution that is a quarterly dividend, including only
         the amount of cash distributed in excess of the threshold set forth
         above) applicable to one share of Common Stock,

such adjustment to be effective immediately prior to the opening of business on
the day following the record date; provided that if the portion of the cash so
distributed applicable to one share of Common Stock is equal to or greater than
the Current Market Price on the record date, in lieu of the foregoing
adjustment,

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adequate provision shall be made so that each Holder shall have the right to
receive upon exchange the amount of cash such holder would have received had
such holder exchanged each Security on the Record Date. If such dividend or
distribution is not so paid or made, the Base Exchange Rate shall again be
adjusted to be the Base Exchange Rate that would then be in effect if such
dividend or distribution had not been declared. If any adjustment is required to
be made as set forth in this Section 14.11(e) as a result of a distribution that
is a quarterly dividend, such adjustment shall be based upon the amount by which
such distribution exceeds the amount of the quarterly cash dividend permitted to
be excluded pursuant hereto. If an adjustment is required to be made as set
forth in this Section 14.11(e) above as a result of a distribution that is not a
quarterly dividend, such adjustment shall be based upon the full amount of the
distribution.

         (f)      In case a tender or exchange offer made by LIN TV or any
Subsidiary for all or any portion of the Common Stock shall expire and such
tender or exchange offer (as amended upon the expiration thereof) shall require
the payment to stockholders of consideration per share of Common Stock having a
Fair Market Value (as determined by the Board of Directors, whose determination
shall be conclusive and described in a resolution of the Board of Directors)
that as of the last time (the "EXPIRATION TIME") tenders or exchanges may be
made pursuant to such tender or exchange offer (as it may be amended) exceeds
the Closing Sale Price of a share of Common Stock on the Trading Day next
succeeding the Expiration Time, the Base Exchange Rate shall be increased so
that the same shall equal the rate determined by multiplying the Base Exchange
Rate in effect immediately prior to the Expiration Time by a fraction,

                  (i)      the numerator of which shall be the sum of (x) the
         Fair Market Value (determined as aforesaid) of the aggregate
         consideration payable to stockholders based on the acceptance (up to
         any maximum specified in the terms of the tender or exchange offer) of
         all shares validly tendered or exchanged and not withdrawn as of the
         Expiration Time (the shares deemed so accepted up to any such maximum,
         being referred to as the "PURCHASED SHARES") and (y) the product of the
         number of shares of Common Stock outstanding (less any Purchased
         Shares) at the Expiration Time and the Closing Sale Price of a share of
         Common Stock on the Trading Day next succeeding the Expiration Time,
         and

                  (ii)     the denominator of which shall be the number of
         shares of Common Stock outstanding (including any tendered or exchanged
         shares) at the Expiration Time multiplied by the Closing Sale Price of
         a share of Common Stock on the Trading Day next succeeding the
         Expiration Time,

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such adjustment to become effective immediately prior to the opening of business
on the day following the Expiration Time. If LIN TV is obligated to purchase
shares pursuant to any such tender or exchange offer, but LIN TV is permanently
prevented by applicable law from effecting any such purchases or all such
purchases are rescinded, the Base Exchange Rate shall again be adjusted to be
the Base Exchange Rate that would then be in effect if such tender or exchange
offer had not been made.

         (g)      If LIN TV pays a dividend or makes a distribution to all
holders of its Common Stock consisting of capital stock of any class or series,
or similar equity interests, of or relating to a Subsidiary or other business
unit of LIN TV, the Base Exchange Rate shall be increased so that the same shall
be equal to the rate determined by multiplying the Base Exchange Rate in effect
on the Record Date with respect to such distribution by a fraction,

                  (i)      the numerator of which shall be the sum of (A) the
         average of the Closing Sale Prices of the Common Stock for the ten (10)
         Trading Days commencing on and including the fifth Trading Day after
         the date on which "ex-dividend trading" commences for such dividend or
         distribution on The New York Stock Exchange or such other national or
         regional exchange or market which such securities are then listed or
         quoted (the "EX-DIVIDEND DATE") plus (B) the fair market value of the
         securities distributed in respect of each share of Common Stock for
         which this Section 14.11(g) applies and shall equal the number of
         securities distributed in respect of each share of Common Stock
         multiplied by the average of the closing sale prices of those
         securities distributed for the ten (10) Trading Days commencing on and
         including the fifth Trading Day after the Ex-Dividend Date; and

                  (ii)     the denominator of which shall be the average of the
         Closing Sale Prices of the Common Stock for the ten (10) Trading Days
         commencing on and including the fifth Trading Day after the Ex-Dividend
         Date,

such adjustment to become effective immediately prior to the opening of business
on the day following fifteenth Trading Day after the Ex-Dividend Date; provided
that if (x) the average of the Closing Sale Prices of the Common Stock for the
ten (10) Trading Days commencing on and including the fifth Trading Day after
the Ex-Dividend Date minus (y) the fair market value of the securities
distributed in respect of each share of Common Stock for which this Section
14.11(g) applies (as calculated in Section 14.11(g)(i)(B) above) is less than
$1.00, then the adjustment provided by for by this Section 14.11(g) shall not be
made and in lieu thereof the provisions of Section 14.14 shall apply to such
distribution.

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         (h)      If any adjustment or readjustment is made to the Base Exchange
Rate pursuant to this Section 14.11, the same proportional adjustment shall be
made to the Incremental Share Factor, the Maximum Exchange Rate and any Fixed
Exchange Rate.

         (i)      For purposes of this Section 14.11, the following terms shall
have the meaning indicated:

                  (i)      "CURRENT MARKET PRICE" shall mean the average of the
         daily Closing Sale Prices per share of Common Stock for the ten
         consecutive Trading Days selected by the Issuer commencing no more than
         30 Trading Days before and ending not later than the earlier of such
         date of determination and the day before the "EX" date with respect to
         the issuance, distribution, subdivision or combination requiring such
         computation immediately prior to the date in question. For purpose of
         this paragraph, the term "EX" date, (1) when used with respect to any
         issuance or distribution, means the first date on which the Common
         Stock trades, regular way, on the relevant exchange or in the relevant
         market from which the Closing Sale Price was obtained without the right
         to receive such issuance or distribution, and (2) when used with
         respect to any subdivision or combination of shares of Common Stock,
         means the first date on which the Common Stock trades, regular way, on
         such exchange or in such market after the time at which such
         subdivision or combination becomes effective.

         If another issuance, distribution, subdivision or combination to which
Section 14.11 applies occurs during the period applicable for calculating
"CURRENT MARKET PRICE" pursuant to the definition in the preceding paragraph,
"CURRENT MARKET PRICE" shall be calculated for such period in a manner
determined by the Board of Directors to reflect the impact of such issuance,
distribution, subdivision or combination on the Closing Sale Price of the Common
Stock during such period.

                  (ii)     "FAIR MARKET VALUE" shall mean the amount which a
         willing buyer would pay a willing seller in an arm's-length
         transaction.

                  (iii)    "RECORD DATE" shall mean, with respect to any
         dividend, distribution or other transaction or event in which the
         holders of Common Stock have the right to receive any cash, securities
         or other property or in which the Common Stock (or other applicable
         security) is exchanged for or converted into any combination of cash,
         securities or other property, the date fixed for determination of
         stockholders entitled to receive such cash, securities or other
         property (whether such date is fixed by the Board of Directors or by
         statute, contract or otherwise).

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         (j)      The Issuer may make such increases in the Base Exchange Rate
in addition to those required by Section 14.11(a), (b), (c), (d), (e), (f) or
(g) as the Board of Directors considers to be advisable to avoid or diminish any
income tax to holders of Common Stock or rights to purchase Common Stock
resulting from any dividend or distribution of stock (or rights to acquire
stock) or from any event treated as such for income tax purposes.

         To the extent permitted by applicable law, the Issuer from time to time
may increase the Base Exchange Rate by any amount for any period of time if the
period is at least twenty (20) days, the increase is irrevocable during the
period and the Board of Directors shall have made a determination that such
increase would be in the best interests of the Issuer, which determination shall
be conclusive. Whenever the Base Exchange Rate is increased pursuant to the
preceding sentence, the Issuer shall mail to Holders a notice of the increase at
least fifteen (15) days prior to the date the increased Base Exchange Rate takes
effect, and such notice shall state the increased Base Exchange Rate (and, as
applicable, the Incremental Share Factor, the Maximum Exchange Rate and any
Fixed Exchange Rate) and the period during which they will be in effect.

         (k)      No adjustment in the Base Exchange Rate (and, as applicable,
the Incremental Share Factor, the Maximum Exchange Rate and any Fixed Exchange
Rate) shall be required unless such adjustment would require an increase or
decrease of at least one percent (1%) in such rate; provided that any
adjustments that by reason of this Section 14.11(k) are not required to be made
shall be carried forward and taken into account in any subsequent adjustment.
All calculations under this Article 14 shall be made by the Issuer and shall be
made to the nearest cent or to the nearest one-ten thousandth (1/10,000) of a
share, as the case may be. No adjustment need be made for rights to purchase
Common Stock pursuant to a LIN TV plan for reinvestment of dividends or interest
or, except as set forth in this Article 14, for any issuance of Common Stock or
exchangeable or exchangeable securities or rights to purchase Common Stock or
exchangeable or exchangeable securities. To the extent the Securities become
exchangeable into cash, assets, property or securities (other than capital stock
of LIN TV), subject to Section 14.14, no adjustment need be made thereafter as
to the cash, assets, property or such securities. Interest will not accrue on
any cash into which the Securities are exchangeable.

         (l)      Whenever the Base Exchange Rate (and, as applicable, the
Incremental Share Factor, the Maximum Exchange Rate and any Fixed Exchange Rate)
is adjusted as herein provided, the Issuer shall promptly file with the Trustee
and any Exchange Agent other than the Trustee an Officers' Certificate setting
forth the Base Exchange Rate (and, as applicable, the Incremental Share Factor,
the Maximum Exchange Rate and any Fixed Exchange Rate) after such adjustment and
setting forth a brief statement of the

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<PAGE>

facts requiring such adjustment. Unless and until a Responsible Officer of the
Trustee or Exchange Agent shall have received such Officers' Certificate, the
Trustee or Exchange Agent, as the case may be, shall not be deemed to have
knowledge of any adjustment of the Base Exchange Rate (and, as applicable, the
Incremental Share Factor, the Maximum Exchange Rate and any Fixed Exchange Rate)
and may assume that the last Base Exchange Rate (and, as applicable, the
Incremental Share Factor, the Maximum Exchange Rate and any Fixed Exchange Rate)
of which it has knowledge is still in effect. Promptly after delivery of such
certificate, the Issuer shall prepare a notice of such adjustment of the Base
Exchange Rate (and, as applicable, the Incremental Share Factor, the Maximum
Exchange Rate and any Fixed Exchange Rate) setting forth the adjusted Base
Exchange Rate (and, as applicable, the Incremental Share Factor, the Maximum
Exchange Rate and any Fixed Exchange Rate) and the date on which each adjustment
becomes effective and shall mail such notice of such adjustment of the Base
Exchange Rate (and, as applicable, the Incremental Share Factor, the Maximum
Exchange Rate and any Fixed Exchange Rate) to the Holder of each Security at his
last address appearing on the Security Register within twenty (20) days after
execution thereof. Failure to deliver such notice shall not affect the legality
or validity of any such adjustment.

         (m)      In any case in which this Section 14.11 provides that an
adjustment shall become effective immediately after (1) a record date or Record
Date for an event, (2) the date fixed for the determination of stockholders
entitled to receive a dividend or distribution pursuant to Section 14.11(a),
(3) a date fixed for the determination of stockholders entitled to receive
rights or warrants pursuant to Section 14.11(b), or (4) the Expiration Time for
any tender or exchange offer pursuant to Section 14.11(f) (each a
"DETERMINATION DATE"), the Issuer may elect to defer until the occurrence of
the applicable Adjustment Event (as hereinafter defined) (x) issuing to the
holder of any Security exchanged after such Determination Date and before the
occurrence of such Adjustment Event, the additional shares of Common Stock or
other securities issuable upon such exchange by reason of the adjustment
required by such Adjustment Event over and above the Common Stock issuable upon
such exchange before giving effect to such adjustment and (y) paying to such
holder any amount in cash in lieu of any fraction pursuant to Section 14.08.
For purposes of this Section 14.11(m), the term "ADJUSTMENT EVENT" shall mean:

                  (i)      in any case referred to in clause (1) hereof, the
         occurrence of such event,

                  (ii)     in any case referred to in clause (2) hereof, the
         date any such dividend or distribution is paid or made,

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                  (iii)    in any case referred to in clause (3) hereof, the
         date of expiration of such rights or warrants, and

                  (iv)     in any case referred to in clause (4) hereof, the
         date a sale or exchange of Common Stock pursuant to such tender or
         exchange offer is consummated and becomes irrevocable.

         (n)      For purposes of this Section 14.11, the number of shares of
Common Stock at any time outstanding shall not include shares held in the
treasury of LIN TV, unless such treasury shares participate in any distribution
or dividend that requires an adjustment pursuant to this Section 14.11, but
shall include shares issuable in respect of scrip certificates issued in lieu of
fractions of shares of Common Stock.

         Section 14.12. Other Adjustments.

         (a)      The Issuer shall be entitled to make such increases in the
Base Exchange Rate (and, as applicable, the Incremental Share Factor, the
Maximum Exchange Rate and any Fixed Exchange Rate), in addition to those
required by Section 14.11, as in its discretion shall determine to be advisable
in order that any stock dividends, subdivisions of shares, distributions of
rights to purchase stock or securities or distributions of securities
exchangeable into or exchangeable for stock hereafter made by LIN TV to its
stockholders shall not be taxable.

         (b)      To the extent permitted by applicable law, the Issuer from
time to time may increase the regular interest rate on the Securities by any
amount for any period of time so long as such increase (i) is effective as of
the beginning of an Interest Payment Period, (ii) ceases to be effective as of
the end of an Interest Payment Period, (iii) is irrevocable during such period
and (iv) the Board of Directors shall have made a determination that such
increase would be in the best interests of the Issuer, which determination shall
be conclusive. Whenever the regular interest rate is increased pursuant to the
preceding sentence, the Issuer shall provide notice to Holders of the Securities
of such increase at least twenty (20) days prior to the Interest Payment Date on
which such increase takes effect, and such notice shall state (x) the increased
regular interest rate and (y) the period during which it will be in effect.

         Section 14.13. Notice of Certain Transactions. In the event that:

                  (i)      LIN TV takes any action which would require an
         adjustment in the Exchange Rate;

                  (ii)     LIN TV takes any action that requires a supplemental
         indenture pursuant to Section 14.14; or

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<PAGE>

                  (iii)    there is a dissolution or liquidation of LIN TV or
         the Issuer;

the Issuer shall mail to Holders and file with the Trustee a notice stating the
proposed record or effective date, as the case may be. The Issuer shall mail the
notice at least fifteen days before such date. Failure to mail such notice or
any defect therein shall not affect the validity of any transaction referred to
in clause (i), (ii) or (iii) of this Section 14.13.

         Section 14.14. Effect of Reclassification, Consolidation, Merger or
Sale on Exchange Privilege. If any of the following events occur, namely (i) any
reclassification or change of the outstanding shares of Common Stock (other than
a subdivision or combination to which Section 14.11(c) applies), (ii) any
consolidation, merger or combination of LIN TV with another Person as a result
of which holders of Common Stock shall be entitled to receive stock, other
securities or other property or assets (including cash) with respect to or in
exchange for such Common Stock, or (iii) any sale or conveyance of all or
substantially all of the properties and assets of LIN TV to any other Person as
a result of which holders of Common Stock shall be entitled to receive stock,
other securities or other property or assets (including cash) with respect to or
in exchange for such Common Stock, then the Issuer and each Guarantor (or the
successor or purchasing Person, as the case may be) shall execute with the
Trustee a supplemental indenture (which shall comply with the Trust Indenture
Act as in force at the date of execution of such supplemental indenture)
providing that each Security shall be exchangeable into the kind and amount of
shares of stock, other securities or other property or assets (including cash)
receivable upon such reclassification, change, consolidation, merger,
combination, sale or conveyance by a holder of a number of shares of Common
Stock issuable upon exchange of such Securities (assuming, for such purposes, a
sufficient number of authorized shares of Common Stock are available to exchange
all such Securities) immediately prior to such reclassification, change,
consolidation, merger, combination, sale or conveyance assuming such holder of
Common Stock did not exercise his rights of election, if any, as to the kind or
amount of stock, other securities or other property or assets (including cash)
receivable upon such reclassification, change, consolidation, merger,
combination, sale or conveyance (provided that, if the kind or amount of stock,
other securities or other property or assets (including cash) receivable upon
such reclassification, change, consolidation, merger, combination, sale or
conveyance is not the same for each share of Common Stock in respect of which
such rights of election shall not have been exercised ("NON-ELECTING SHARE"),
then for the purposes of this Section 14.14 the kind and amount of stock, other
securities or other property or assets (including cash) receivable upon such
reclassification, change, consolidation, merger, combination, sale or conveyance
for each non-electing share shall be deemed to be the kind and amount so
receivable per share

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<PAGE>

by a plurality of the non-electing shares). Such supplemental indenture shall
provide for adjustments which shall be as nearly equivalent as may be
practicable to the adjustments provided for in this Article 14.

         The Issuer shall cause notice of the execution of such supplemental
indenture to be mailed to each Holder of Securities, at its address appearing on
the Security register, within twenty (20) days after execution thereof and shall
issue a press release containing such information and publish such information
on its website on the World Wide Web. Failure to deliver such notice shall not
affect the legality or validity of such supplemental indenture.

         The above provisions of this Section shall similarly apply to
successive reclassifications, changes, consolidations, mergers, combinations,
sales and conveyances.

         If this Section 14.14 applies to any event or occurrence, Section 14.11
shall not apply.

         Section 14.15. Trustee's Disclaimer. The Trustee shall have no duty to
determine when an adjustment under this Article should be made, how it should be
made or what such adjustment should be, but may accept as conclusive evidence of
that fact or the correctness of any such adjustment, and shall be protected in
relying upon, an Officers' Certificate including the Officers' Certificate with
respect thereto which the Issuer is obligated to file with the Trustee pursuant
to Section 14.11(l). The Trustee makes no representation as to the validity or
value of any securities or assets issued upon exchange of Securities, and the
Trustee shall not be responsible for the Issuer's failure to comply with any
provisions of this Article.

         The Trustee shall not be under any responsibility to determine the
correctness of any provisions contained in any supplemental indenture executed
pursuant to Section 14.14, but may accept as conclusive evidence of the
correctness thereof, and shall be fully protected in relying upon, the Officers'
Certificate with respect thereto which the Issuer is obligated to file with the
Trustee pursuant to Section 14.11(l).

         Section 14.16. Rights Issued in Respect of Common Stock Issued Upon
Exchange. Each share of Common Stock issued upon exchange of Securities pursuant
to this Article 14 shall be entitled to receive the appropriate number of common
stock or preferred stock purchase rights, as the case may be (the "RIGHTS"), if
any, that shares of Common Stock are entitled to receive and the certificates
representing the Common Stock issued upon such exchange shall bear such legends,
if any, in each case as may be provided by the terms of any shareholder rights
agreement adopted by LIN TV, as the same may be amended from time to time (in
each case, a "RIGHTS AGREEMENT"). Provided that such

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Rights Agreement requires that each share of Common Stock issued upon exchange
of Securities at any time prior to the distribution of separate certificates
representing the Rights be entitled to receive such Rights, then,
notwithstanding anything else to the contrary in this Article 14, there shall
not be any adjustment to the exchange privilege or Base Exchange Rate (and as
applicable, the Incremental Share Factor, the Maximum Exchange Rate and any
Fixed Exchange Rate) as a result of the issuance of Rights, but an adjustment to
the Base Exchange Rate (and as applicable, the Incremental Share Factor, the
Maximum Exchange Rate and any Fixed Exchange Rate) shall be made pursuant to
Section 14.11(d) upon the separation of the Rights from the Common Stock.

         Section 14.17. Issuer Determination Final. Any determination that the
Issuer or the Board of Directors must make pursuant to Sections 14.07, 14.08,
14.11, 14.12 or 14.14 shall be conclusive.

                                   ARTICLE 15
                          PURCHASE AT OPTION OF HOLDERS

         Section 15.01. Right to Require Purchase.

         (a)      Each Holder has the right to require the Issuer to purchase
all or a portion of the Securities held by such Holder on May 15, 2008, 2013,
2018, 2023, and 2028, or if any such day is not a Business Day, on the
immediately succeeding Business Day (each, a "PURCHASE DATE").

         (b)      The Issuer shall give notice of each Purchase Date and of the
procedures set forth in Section 15.02 that each Holder must follow to exercise
its purchase right to each Holder at its address set forth in the Security
Register and to the Depositary, not later than 21 Business Days prior to each
Purchase Date.

         Section 15.02. Purchase Procedures. If the Holders have the right to
require the purchase of Securities pursuant to Section 15.01, the Issuer shall
purchase such Securities for cash at a Purchase Price equal to 100% of the
Principal Amount thereof, plus accrued and unpaid interest (including Contingent
Interest and Liquidated Damages, if any) to, but excluding, the Purchase Date
(the "PURCHASE PRICE") (provided that if the Purchase Date is any day during the
period from the close of business on any Regular Record Date immediately
preceding any Interest Payment Date to the close of business on such Interest
Payment Date, any accrued and unpaid interest, Contingent Interest or Liquidated
Damages, shall be paid to the Holder of record as of the applicable Regular
Record Date, rather than to the Holder presenting the Security for purchase), at
the option of the Holder thereof, upon:

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<PAGE>

         (a)      delivery to the Paying Agent by the Holder of a written notice
of purchase (a "PURCHASE NOTICE") at any time from the opening of business on
the date that is 21 Business Days prior to a Purchase Date until the close of
business on such Purchase Date stating:

                  (i)      if a certificated Security has been issued, the
         certificate number of the Security which the Holder will deliver to be
         purchased or if not, such information as may be required under
         applicable procedures of the Depositary,

                  (ii)     the portion of the Principal Amount of the Security
         which the Holder will deliver to be purchased, which portion must be
         $1,000 or an integral multiple thereof, and

                  (iii)    that such Security shall be purchased as of the
         applicable Purchase Date pursuant to this Article 15; and

         (b)      delivery of such Security to the Paying Agent prior to, on or
after the Purchase Date (together with all necessary endorsements) at the
offices of the Paying Agent, such delivery being a condition to receipt by the
Holder of the Purchase Price therefor; provided, however, that such Purchase
Price shall be so paid pursuant to this Article only if the Security so
delivered to the Paying Agent shall conform in all respects to the description
thereof in the related Purchase Notice.

         The Issuer shall purchase from the Holder thereof, pursuant to this
Article, a portion of a Security if the Principal Amount of such portion is
$1,000 or an integral multiple of $1,000. Provisions of this Indenture that
apply to the purchase of all of a Security also apply to the purchase of such
portion of such Security.

         Any purchase by the Issuer contemplated pursuant to the provisions of
this Article shall be consummated by the payment of the Purchase Price to be
received by the Holder in cash promptly following the later of the Purchase Date
and the time of delivery of the Security as set forth in Section 15.04.

         Notwithstanding anything herein to the contrary, any Holder delivering
to the Paying Agent the Purchase Notice contemplated by this Section 15.02 shall
have the right to withdraw such Purchase Notice at any time prior to the close
of business on the Purchase Date by delivery of a written notice of withdrawal
to the Paying Agent in accordance with Section 15.03.

         The Paying Agent shall promptly notify the Issuer of the receipt by it
of any Purchase Notice or written notice of withdrawal thereof.

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         Anything herein to the contrary notwithstanding, in the case of Global
Securities, any Purchase Notice may be delivered or withdrawn and such
Securities may be surrendered or delivered for purchase in accordance with the
applicable procedures of the Depositary as in effect from time to time.

         The Issuer may, at its option, specify additional dates on which
Holders will have the right to require it to purchase Securities upon written
notice to the Paying Agent, the Trustee and the Holders. Such notice shall
specify the additional dates upon which the Issuer shall be required to purchase
the Securities at the option of the Holders and shall be delivered to the Paying
Agent, the Trustee and the Holders no less than 25 Business Days prior to the
earliest purchase date specified in such notice.

         Section 15.03. Effect of Purchase Notice. Upon receipt by the Paying
Agent of the Purchase Notice specified in Section 15.02(a), the Holder of the
Security in respect of which such Purchase Notice was given shall (unless such
Purchase Notice is withdrawn as specified in the following two paragraphs)
thereafter be entitled to receive solely the Purchase Price with respect to such
Security. Such Purchase Price shall be paid to such Holder, subject to receipt
of funds by the Paying Agent, promptly following the later of (x) the Purchase
Date with respect to such Security (provided the conditions in Section 15.02
have been satisfied) and (y) the time of delivery of such Security to the Paying
Agent by the Holder thereof in the manner required by Section 15.02. Securities
in respect of which a Purchase Notice has been given by the Holder thereof may
not be exchanged pursuant to Article 14 hereof on or after the date of the
delivery of such Purchase Notice unless such Purchase Notice has first been
validly withdrawn as specified in the following two paragraphs.

         A Purchase Notice may be withdrawn by means of a written notice of
withdrawal delivered to the office of the Paying Agent in accordance with the
Purchase Notice at any time prior to the close of business on the applicable
Purchase Date specifying:

                  (i)      if certificated Securities have been issued, the
         certificate number of the Security in respect of which such notice of
         withdrawal is being submitted, or if not, such information as may be
         required under appropriate procedures of the Depositary;

                  (ii)     the Principal Amount of the Security with respect to
         which such notice of withdrawal is being submitted; and

                  (iii)    the Principal Amount, if any, of such Security that
         remain subject to the original Purchase Notice and have been or will be
         delivered for purchase by the Issuer.

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         There shall be no purchase of any Securities pursuant to this Article
15 if there has occurred (prior to, on or after, as the case may be, the giving,
by the Holders of such Securities, of the required Purchase Notice) and is
continuing an Event of Default (other than a default in the payment of the
Purchase Price with respect to such Securities). The Paying Agent will promptly
return to the respective Holders thereof any Securities (x) with respect to
which a Purchase Notice has been withdrawn in compliance with this Indenture, or
(y) held by it during the continuance of an Event of Default (other than a
default in the payment of the Purchase Price with respect to such Securities) in
which case, upon such return, the Purchase Notice with respect thereto shall be
deemed to have been withdrawn.

         Section 15.04. Deposit of Purchase Price. Prior to 11:00 a.m. (New York
City time) on the Business Day immediately following the Purchase Date, the
Issuer shall deposit with the Trustee or with the Paying Agent an amount of cash
(in immediately available funds if deposited on such Business Day) sufficient to
pay the aggregate Purchase Price of all of the Securities or portions thereof
which are to be purchased as of the Purchase Date. The manner in which the
deposit required by this Section 15.04 is made by the Issuer shall be at the
option of the Issuer, provided, however, that such deposit shall be made in a
manner such that the Trustee or a Paying Agent shall have immediately available
funds on the date of deposit.

         If a Paying Agent holds, in accordance with the terms hereof, cash
sufficient to pay the Purchase Price of any Security for which a Purchase Notice
has been tendered and not withdrawn in accordance with this Indenture on the
Business Day following the Purchase Date then, immediately following such
Purchase Date, such Security will cease to be outstanding, interest (including
Contingent Interest and Liquidated Damages, if any) will cease to accrue and the
rights of the Holder in respect thereof shall terminate (other than the right to
receive the Purchase Price as aforesaid).

         Section 15.05. Securities Purchased in Part. Any Security which is to
be purchased only in part shall be surrendered at the office of the Paying Agent
(with, if the Issuer, the Paying Agent or the Trustee so requires, due
endorsement by, or a written instrument of transfer in form satisfactory to the
Issuer, the Paying Agent or the Trustee duly executed by, the Holder thereof or
such Holder's attorney duly authorized in writing) and the Issuer shall execute
and the Trustee, or any Authenticating Agent, shall authenticate and deliver to
the Holder of such Security, without service charge except for any taxes to be
paid by the Holder in the event a Security is registered under a new name, a new
Security or Securities, of any authorized denomination as requested by such
Holder in aggregate Principal Amount equal to, and in exchange for, the portion
of the Principal Amount of the Security so surrendered which is not purchased.

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         Section 15.06. Repayment to the Issuer. The Trustee and the Paying
Agent shall return to the Issuer any cash that remains unclaimed for two years,
subject to applicable unclaimed property law, together with interest, if any,
thereon held by them for the payment of the Purchase Price, provided, however,
that to the extent that the aggregate amount of cash or Common Stock deposited
by the Issuer pursuant to Section 15.04 exceeds the aggregate Purchase Price of
the Securities or portions thereof which the Issuer is obligated to purchase as
of the Purchase Date, then promptly after the Business Day following the
Purchase Date, the Trustee or the Paying Agent, as applicable, shall return any
such excess to the Issuer. Thereafter, any Holder entitled to payment must look
to the Issuer for payment as general creditors, unless an applicable abandoned
property law designates another Person.

                                   ARTICLE 16
             PURCHASE AT OPTION OF HOLDER UPON A FUNDAMENTAL CHANGE

         Section 16.01. Right to Require Purchase.

         (a)      If at any time prior to Stated Maturity Date that Securities
remain outstanding there shall occur a Fundamental Change, Securities shall be
purchased by the Issuer in integral multiples of $1,000 Principal Amount at the
option of the Holders thereof as of the date specified by the Issuer that is not
less than 20 Business Days nor more than 35 Business Days after the occurrence
of the Fundamental Change (the "FUNDAMENTAL CHANGE PURCHASE DATE") subject to
satisfaction by or on behalf of any Holder of the requirements set forth in
subsection (c) of this Section 16.01. The purchase price of such Securities (the
"FUNDAMENTAL CHANGE PURCHASE PRICE") shall be equal to 100% of the Principal
Amount of the Securities to be purchased plus accrued and unpaid interest
(including Contingent Interest and Liquidated Damages, if any) to, but
excluding, the Fundamental Change Purchase Date, unless such Fundamental Change
Purchase Date falls after a Regular Record Date and on or prior to the
corresponding Interest Payment Date, in which case the Issuer shall pay the full
amount of accrued and unpaid interest (including Contingent Interest and
Liquidated Damages, if any) payable on such Interest Payment Date to the holder
of record at the close of business on such Regular Record Date.

         A "FUNDAMENTAL CHANGE" is any transaction or event (whether by means of
an exchange offer, liquidation, tender offer, consolidation, merger,
combination, reclassification, recapitalization or otherwise) in connection with
which all or substantially all of the Common Stock is exchanged for, converted
into, acquired for or constitutes solely the right to receive consideration
which is not all or substantially all common stock that:

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                  (i)      is listed on, or immediately after the transaction or
         event will be listed on, a United States national securities exchange,
         or

                  (ii)     is approved, or immediately after the transaction or
         event will be approved, for quotation on NASDAQ or any similar United
         States system of automated dissemination of quotations of securities
         prices.

         (b)      Within 15 Business Days after the occurrence of a Fundamental
Change, the Issuer shall mail a written notice of the Fundamental Change to the
Trustee and any Paying Agent and to each Holder.

         The notice shall include the form of a Fundamental Change Purchase
Notice to be completed by the Holder and shall state:

                  (i)      the date of such Fundamental Change and, briefly, the
         events causing such Fundamental Change;

                  (ii)     the date by which the Fundamental Change Purchase
         Notice pursuant to this Section 16.01 must be given;

                  (iii)    the Fundamental Change Purchase Date;

                  (iv)     the Fundamental Change Purchase Price that will be
         accrued and payable with respect to the Securities as of the
         Fundamental Change Purchase Date;

                  (v)      briefly, the exchange rights of the Securities;

                  (vi)     the name and address of each Paying Agent and
         Exchange Agent;

                  (vii)    the Base Exchange Rate, the Maximum Exchange Rate and
         the current Exchange Rate (using the Applicable Stock Price as
         determined as of the Business Day prior to the date on which the notice
         pursuant to this Section 16.01(b) is mailed by the Issuer to the
         Trustee or Paying Agent and assuming a Exchange Date eight Trading Days
         prior to such date), and any adjustments thereto;

                  (viii)   that Securities as to which a Fundamental Change
         Purchase Notice has been given may be exchanged for Common Stock
         pursuant to Article 14 only to the extent that the Fundamental Change
         Purchase Notice has been withdrawn in accordance with the terms of this
         Indenture;

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                  (ix)     the procedures that the Holder must follow to
         exercise rights under this Section 16.01;

                  (x)      the procedures for withdrawing a Fundamental Change
         Purchase Notice, including a form of notice of withdrawal;

                  (xi)     that the Holder must satisfy the requirements set
         forth in the Securities in order to exchange the Securities; and

                  (xii)    the last date on which the purchase right may be
         exercised.

         If any of the Securities is in the form of a Global Security, then the
Issuer shall modify such notice to the extent necessary to accord with the
procedures of the Depositary applicable to the purchase of Global Securities.

         (c)      A Holder may exercise its rights specified in subsection (a)
of this Section 16.01 upon delivery of a written notice (which shall be in
substantially the form included as an attachment to the Securities and which may
be delivered by letter, overnight courier, hand delivery, facsimile transmission
or in any other written form and, in the case of Global Securities, may be
delivered electronically or by other means in accordance with the Depositary's
customary procedures) of the exercise of such rights (a "FUNDAMENTAL CHANGE
PURCHASE NOTICE") to any Paying Agent at any time prior to the close of business
on the Fundamental Change Purchase Date.

         The delivery of such Security to any Paying Agent (together with all
necessary endorsements) at the office of such Paying Agent shall be a condition
to the receipt by the Holder of the Fundamental Change Purchase Price.

         The Issuer shall purchase from the Holder thereof, pursuant to this
Section 16.01, a portion of a Security if the Principal Amount of such portion
is $1,000 or an integral multiple of $1,000. Provisions of this Indenture that
apply to the purchase of all of a Security pursuant to Section 16.01 through
Section 16.05 also apply to the purchase of such portion of such Security.

         Any purchase by the Issuer contemplated pursuant to the provisions of
this Section 16.01 shall be consummated by the delivery of the consideration to
be received by the Holder promptly following the later of the Fundamental Change
Purchase Date and the time of delivery of the Security to the Paying Agent in
accordance with this Section 16.01 as set forth in Section 16.02.

         Notwithstanding anything herein to the contrary, any Holder delivering
to a Paying Agent the Fundamental Change Purchase Notice contemplated by this
subsection (c) shall have the right to withdraw such Fundamental Change

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Purchase Notice in whole or as to a portion thereof that is an Principal Amount
of $1,000 or an integral multiple thereof at any time prior to the close of
business on the Fundamental Change Purchase Date by delivery of a written notice
of withdrawal to the Paying Agent in accordance with Section 16.02.

         A Paying Agent shall promptly notify the Issuer of the receipt by it of
any Fundamental Change Purchase Notice or written withdrawal thereof.

         Anything herein to the contrary notwithstanding, in the case of Global
Securities, any Fundamental Change Purchase Notice may be delivered or withdrawn
and such Securities may be surrendered or delivered for purchase in accordance
with the applicable procedures of the Depositary as in effect from time to time.

         Section 16.02. Effect of Fundamental Change Purchase Notice.

         Upon receipt by any Paying Agent of the Fundamental Change Purchase
Notice specified in Section 16.01(c), the Holder of the Security in respect of
which such Fundamental Change Purchase Notice was given shall (unless such
Fundamental Change Purchase Notice is withdrawn as specified below) thereafter
be entitled to receive the Fundamental Change Purchase Price with respect to
such Security. Such Fundamental Change Purchase Price shall be paid to such
Holder promptly following the later of (a) the Fundamental Change Purchase Date
with respect to such Security (provided the conditions in Section 16.01(c) have
been satisfied) and (b) the time of delivery of such Security to a Paying Agent
by the Holder thereof in the manner required by Section 16.01(c). Securities in
respect of which a Fundamental Change Purchase Notice has been given by the
Holder thereof may not be exchanged into Common Stock on or after the date of
the delivery of such Fundamental Change Purchase Notice unless such Fundamental
Change Purchase Notice has first been validly withdrawn as specified in the
following paragraph.

         A Fundamental Change Purchase Notice may be withdrawn by means of a
written notice of withdrawal delivered to the office of the Paying Agent in
accordance with the Fundamental Change Purchase Notice at any time prior to the
close of business on the applicable Fundamental Change Purchase Date specifying:

                  (i)      if certificated Securities have been issued, the
         certificate numbers for Securities in respect of which such notice of
         withdrawal is being submitted, or if not, such information as required
         by the Depositary;

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                  (ii)     the Principal Amount, in integral multiples of
         $1,000, of the Securities with respect to which such notice of
         withdrawal is being submitted; and

                  (iii)    the Principal Amount, if any, of such Securities that
         remain subject to the original Fundamental Change Purchase Notice and
         have been or will be delivered for purchase by the Issuer.

         There shall be no purchase of any Securities pursuant to this Article
if there has occurred (prior to, on or after, as the case may be, the giving, by
the Holders of such Securities, of the required Fundamental Change Purchase
Notice) and is continuing an Event of Default (other than a default in the
payment of the Fundamental Change Purchase Price with respect to such
Securities). The Paying Agent will promptly return to the respective Holders
thereof any Securities (x) with respect to which a Fundamental Change Purchase
Notice has been withdrawn in compliance with this Indenture, or (y) held by it
during the continuance of an Event of Default (other than a default in the
payment of the Fundamental Change Purchase Price with respect to such
Securities) in which case, upon such return, the Fundamental Change Purchase
Notice with respect thereto shall be deemed to have been withdrawn.

         Section 16.03. Deposit of Fundamental Change Purchase Price. On or
before 11:00 a.m. New York City time on the Business Day immediately following
the Fundamental Change Purchase Date, the Issuer shall deposit with the Trustee
or with a Paying Agent an amount of cash (in immediately available funds if
deposited on such Business Day) sufficient to pay the aggregate Fundamental
Change Purchase Price of all the Securities or portions thereof that are to be
purchased as of such Fundamental Change Purchase Date. The manner in which the
deposit required by this Section 16.03 is made by the Issuer shall be at the
option of the Issuer, provided, however, that such deposit shall be made in a
manner such that the Trustee or a Paying Agent shall have immediately available
funds on the date of such deposit.

         If a Paying Agent holds, in accordance with the terms hereof, money
sufficient to pay the Fundamental Change Purchase Price of any Security for
which a Fundamental Change Purchase Notice has been tendered (and not withdrawn
in accordance with this Indenture) on the Business Day following the Fundamental
Change Purchase Date then, immediately following the Fundamental Change Purchase
Date, such Security will cease to be outstanding, interest (including Contingent
Interest and Liquidated Damages, if any) will cease to accrue and the rights of
the Holder in respect thereof shall terminate (other than the right to receive
the Fundamental Change Purchase Price). The Issuer shall publicly announce the
Principal Amount of Securities purchased as a

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result of such Fundamental Change on or as soon as practicable after the
Fundamental Change Purchase Date.

         Section 16.04. Securities Purchased in Part. Any Security that is to be
purchased only in part shall be surrendered at the office of a Paying Agent and
promptly after the Fundamental Change Purchase Date the Issuer shall execute and
the Trustee, or any Authenticating Agent, shall authenticate and deliver to the
Holder of such Security, without service charge (other than amounts to be paid
in respect of applicable transfer taxes), a new Security or Securities, of such
authorized denomination or denominations in integral multiples of $1,000
Principal Amount as may be requested by such Holder, in aggregate Principal
Amount equal to, and in exchange for, the portion of the Principal Amount of the
Security so surrendered that is not purchased.

         Section 16.05. Repayment to the Issuer. The Trustee and the Paying
Agent shall return to the Issuer any cash that remains unclaimed for two years,
subject to applicable unclaimed property law, together with interest, if any,
thereon held by them for the payment of the Fundamental Change Purchase Price;
provided, however, that to the extent that the aggregate amount of cash
deposited by the Issuer pursuant to Section 16.03 exceeds the aggregate
Fundamental Change Purchase Price of the Securities or portions thereof which
the Issuer is obligated to purchase as of the Fundamental Change Purchase Date,
then on the Business Day following the Purchase Date, the Trustee or Paying
Agent, as applicable, shall return any such excess to the Issuer. Thereafter,
any Holder entitled to payment must look to the Issuer for payment as general
creditors, unless an applicable abandoned property law designates another
Person.

                                    ARTICLE 17
                               CONTINGENT INTEREST

         Section 17.01. Contingent Interest. The Issuer will pay Contingent
Interest to Holders during any Interest Period commencing on or after May 15,
2008, if the average Trading Price of the Securities for the five Trading Day
measurement period immediately preceding the first day of the applicable
Interest Period (the "MEASUREMENT PERIOD") equals 120% or more of $1,000
Principal Amount of the Securities as of the first day of such Measurement
Period. The amount of Contingent Interest payable per $1,000 Principal Amount of
Securities in any Interest Period pursuant to this Section 17.01 will be equal
to 0.25% per annum of the average Trading Price of $1,000 Principal Amount of
Securities during the Measurement Period.

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         Section 17.02. Payment of Contingent Interest. The Issuer shall pay
Contingent Interest owed pursuant to Section 17.01 for any Interest Period on
the Interest Payment Date immediately succeeding the applicable Interest Period
to Holders of Securities as of the Regular Record Date relating to such Interest
Payment Date.

         Section 17.03. Notice of Contingent Interest.

         (a)      As soon as practicable following the first Business Day of an
Interest Period for which Contingent Interest will be payable pursuant to
Section 17.01, the Issuer shall issue a press release containing this
information and publish the information on its website on the World Wide Web.

         (b)      On any Interest Payment Date on which Contingent Interest is
payable pursuant to this Article 17, the Issuer shall issue a press release
stating the amount of such Contingent Interest and setting forth the manner in
which such amount was calculated, and publish such information on its website on
the World Wide Web.

                                   ARTICLE 18
        IMMUNITY OF INCORPORATORS, STOCKHOLDERS, OFFICERS, DIRECTORS AND
                                   EMPLOYEES

         Section 18.01. Exemption From Individual Liability. No recourse under
or upon any obligation, covenant or agreement of this Indenture, or of any
Security, or for any claim based thereon or otherwise in respect thereof, shall
be had against any incorporator, stockholder, officer, director or employee, as
such, past, present or future, of the Issuer or any Guarantor or of any
successor corporation, either directly or through the Issuer or any such
Guarantor, whether by virtue of any constitution, statute or rule of law, or by
the enforcement of any assessment or penalty or otherwise; it being expressly
understood that this Indenture and the obligations issued hereunder are solely
corporate obligations of the Issuer and the Guarantors, and that no such
personal liability whatever shall attach to, or is or shall be incurred by, the
incorporators, stockholders, officers, directors or employees, as such, of the
Issuer or any Guarantor or of any successor corporation, or any of them,
because of the creation of the indebtedness hereby authorized, or under or by
reason of the obligations, covenants or agreements contained in this Indenture
or in any of the Securities or implied therefrom; and that any and all such
personal liability, either at common law or in equity or by constitution or
statute, of, and any and all such rights and claims against, every such
incorporator, stockholders, officer, director or employee, as such, because of
the creation of the indebtedness hereby authorized, or under or by reason of
the obligations, covenants or agreements

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contained in this Indenture or in any of the Securities or implied therefrom,
are hereby expressly waived and released as a condition of, and as a
consideration for, the execution of this Indenture and the issue of such
Securities.

                                   ARTICLE 19
                            MISCELLANEOUS PROVISIONS

         Section 19.01. Trust Indenture Act Controls. This Indenture is subject
to the provisions of the TIA that are required to be a part of this Indenture,
and shall, to the extent applicable, be governed by such provisions. If any
provision of this Indenture modifies any TIA provision that may be so modified,
such TIA provision shall be deemed to apply to this Indenture as so modified. If
any provision of this Indenture excludes any TIA provision that may be so
excluded, such TIA provision shall be excluded from this Indenture.

         The provisions of TIA Sections 310 through 317 that impose duties on
any Person (including the provisions automatically deemed included unless
expressly excluded by this Indenture) are a part of and govern this Indenture,
whether or not physically contained herein.

         Section 19.02. Notices. Any notice or communication shall be
sufficiently given if in writing and delivered in person, by facsimile and
confirmed by overnight courier, or mailed by first-class mail addressed as
follows:

                  if to the Issuer:

                           LIN Television Corporation
                           Four Richmond Square, Suite 200
                           Providence, Rhode Island 02906
                           Attention: Treasurer

                           Facsimile: (401) 273-8779
                           Telephone: (401) 454-2880

                  Copy to:

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                           Hicks, Muse, Tate & Furst Incorporated
                           200 Crescent Court, Suite 1600
                           Dallas, Texas  75201
                           Attention: Lawrence D. Stuart, Jr.

                           Facsimile: (214) 740-7313
                           Telephone: (214) 740-7300

                  if to the Trustee:

                           The Bank of New York
                           101 Barclay Street, 8W
                           New York, NY 10286
                           Attention: Corporate Trust Department

                           Facsimile: (212) 815-5707
                           Telephone: (212) 815-5733

         The Issuer or the Trustee by notice to the other may designate
additional or different addresses for subsequent notices or communications.

         Any notice or communication mailed, first-class, postage prepaid, to a
Holder including any notice delivered in connection with TIA Section 310(b), TIA
Section 313(c), TIA Section 314(a) and TIA Section 315(b), shall be mailed to
him at his address as set forth on the Security register and shall be
sufficiently given to him if so mailed within the time prescribed. To the extent
required by the TIA, any notice or communication shall also be mailed to any
Person described in TIA Section 313(c).

         Failure to mail a notice or communication to a Holder or any defect in
it shall not affect its sufficiency with respect to other Holders. Except for a
notice to the Trustee, which is deemed given only when received, if a notice or
communication is mailed in the manner provided above, it is duly given, whether
or not the addressee receives it.

         Section 19.03. Communications by Holders with Other Holders. Holders
may communicate pursuant to TIA Section 312(b) with other Holders with respect
to their rights under this Indenture or the Securities. The Issuer, the Trustee,
the Registrar and any other person shall have the protection of TIA Section
312(c).

         Section 19.04. Certificate and Opinion as to Conditions Precedent. Upon
any request or application by the Issuer to the Trustee to take or refrain from
taking any action under this Indenture, the Issuer shall furnish to the Trustee
at the request of the Trustee:

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         (a)      an Officers' Certificate in form and substance satisfactory to
the Trustee stating that, in the opinion of the signers, all conditions
precedent, if any, provided for in this Indenture relating to the proposed
action have been complied with; and

         (b)      an Opinion of Counsel in form and substance satisfactory to
the Trustee stating that, in the opinion of such counsel, all such conditions
precedent have been complied with; provided, however, that with respect to
matters of fact an Opinion of Counsel may rely on an Officers' Certificate or
certificates of public officials.

         Section 19.05. Statements Required in Certificate. Each certificate
with respect to compliance with a condition or covenant provided for in this
Indenture shall include:

         (a)      a statement that the person making such certificate has read
such covenant or condition;

         (b)      a brief statement as to the nature and scope of the
examination or investigation upon which the statements contained in such
certificate are based;

         (c)      a statement that, in the opinion of such person, he has made
such examination or investigation as is necessary to enable him to express an
informed opinion as to whether or not such covenant or condition has been
complied with; and

         (d)      a statement as to whether or not, in the opinion of such
person, such condition or covenant has been complied with.

         Section 19.06. Rules by Trustee, Paying Agent, Exchange Agent
Registrar. The Trustee may make reasonable rules for action by or at a meeting
of Holders. The Paying Agent, Exchange Agent or Registrar may make reasonable
rules for its functions.

         Section 19.07. GOVERNING LAW. THE LAWS OF THE STATE OF NEW YORK SHALL
GOVERN THIS INDENTURE, THE SECURITIES AND THE SUBSIDIARY GUARANTEES WITHOUT
REGARD TO PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF
THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

         Section 19.08. No Recourse Against Others. No director, officer,
employee, incorporator or stockholder of the Issuer or any Guarantor, as such,
shall have any liability for any obligations of the Issuer or any Guarantor
under the Securities or the Affiliate Guarantees, as the case may be, or this
Indenture or

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for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder by accepting a Security and the Affiliate Guarantees
waives and releases all such liability. The waiver and release are part of the
consideration for the issuance of the Securities and the Affiliate Guarantees.

         Section 19.09. Successors. All agreements of the Issuer in this
Indenture and the Securities shall bind its successor. All agreements of each
Guarantor in this Indenture shall bind its successor. All agreements of the
Trustee in this Indenture shall bind its successor.

         Section 19.10. Counterpart Originals. The parties may sign any number
of copies of this Indenture. Each signed copy shall be an original, but all of
them together represent the same agreement.

         Section 19.11. Severability. In case any provision in this Indenture,
in the Securities or in the Affiliate Guarantees shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining
provisions shall not in any way be affected or impaired thereby, and a Holder
shall have no claim therefor against any party hereto.

         Section 19.12. No Adverse Interpretation of Other Agreements. This
Indenture may not be used to interpret another indenture, loan or debt agreement
of the Issuer or a Subsidiary of the Issuer. Any such indenture, loan or debt
agreement may not be used to interpret this Indenture.

         Section 19.13. Legal Holidays. If any Interest Payment Date falls on a
day that is not a Business Day, such Interest Payment Date will be postponed to
the next succeeding Business Day. If the Stated Maturity Date, Redemption Date,
Fundamental Change Purchase Date or Purchase Date of a Security would fall on a
day that is not a Business Day, the required payment of interest, if any, and
principal will be made on the next succeeding Business Day and no interest on
such payment will accrue for the period from and after the Stated Maturity Date,
Redemption Date, Fundamental Change Purchase Date or Purchase Date to such next
succeeding Business Day.

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                                       102

<PAGE>

         IN WITNESS WHEREOF, the undersigned, being duly authorized, have
executed this Indenture on behalf of the respective parties hereto as of the
date first above written.

                                         LIN TELEVISION CORPORATION

                                         By: /s/ Denise M. Parent
                                             -----------------------------------
                                             Name:  Denise M. Parent
                                             Title: Vice President, Deputy
                                                    General Counsel

<PAGE>

                                         LIN TV CORP., as Guarantor

                                         By: /s/ Denise M. Parent
                                             -----------------------------------
                                             Name:  Denise M. Parent
                                             Title: Vice President, Deputy
                                                    General Counsel

<PAGE>

                                         AIRWAVES, INC.
                                         KXAN, INC.
                                         KXTX HOLDINGS, INC.
                                         LINBENCO, INC.
                                         LIN SPORTS, INC.
                                         LIN TELEVISION OF SAN JUAN, INC.
                                         LIN TELEVISION OF TEXAS, INC.
                                         PRIMELAND TELEVISION, INC.
                                         NORTH TEXAS BROADCASTING
                                           CORPORATION
                                         WNJX-TV, INC.
                                         WOOD TELEVISION, INC.
                                         WTNH BROADCASTING, INC.
                                         TVL BROADCASTING OF ABILENE,
                                           INC.
                                         TVL BROADCASTING, INC.
                                         WEYI TELEVISION, INC.
                                           as Guarantors

                                         By: /s/ Denise M. Parent
                                             -----------------------------------
                                             Name:  Denise M. Parent
                                             Title: Vice President, Deputy
                                                    General Counsel

<PAGE>

                                         TELEVICENTRO OF PUERTO RICO,
                                           LLC, as a Guarantor

                                         By: LIN Television of San Juan, Inc.,
                                             its Managing Member

                                         By: /s/ Denise M. Parent
                                             -----------------------------------
                                             Name:  Denise M. Parent
                                             Title: Vice President, Deputy
                                                    General Counsel

<PAGE>

                                         INDIANA BROADCASTING, LLC
                                         LIN AIRTIME, LLC
                                         PROVIDENCE BROADCASTING, LLC
                                         WAVY BROADCASTING, LLC
                                         WOOD LICENSE CO., LLC
                                         WIVB BROADCASTING, LLC
                                         WWLP BROADCASTING, LLC
                                           as Guarantors

                                         By: LIN Television Corporation,
                                             its Managing Member

                                         By: /s/ Denise M. Parent
                                             -----------------------------------
                                             Name:  Denise M. Parent
                                             Title: Vice President, Deputy
                                                    General Counsel

<PAGE>

                                         LIN TELEVISION OF TEXAS, L.P.
                                           as a Guarantor

                                         By: LIN Television of Texas, Inc.,
                                             its General Partner

                                         By: /s/ Denise M. Parent
                                             -----------------------------------
                                             Name:  Denise M. Parent
                                             Title: Vice President, Deputy
                                                    General Counsel

<PAGE>

                                         ABILENE BROADCASTING, LLC
                                         TVL BROADCASTING OF RHODE
                                           ISLAND, LLC
                                         WDTN BROADCASTING, LLC
                                         WEYI BROADCASTING, LLC
                                         WUPW BROADCASTING, LLC
                                           as Guarantors

                                         By: TVL Broadcasting, Inc.,
                                             its Managing Member

                                         By: /s/ Denise M. Parent
                                             -----------------------------------
                                             Name:  Denise M. Parent
                                             Title: Vice President, Deputy
                                                    General Counsel

<PAGE>

                                         THE BANK OF NEW YORK

                                         By: /s/ Margaret Ciesmelewski
                                             -----------------------------------
                                             Name: Margaret Ciesmelewski
                                             Title:

<PAGE>

                                                                       EXHIBIT A

                        [FORM OF FACE OF GLOBAL SECURITY]

         [FOR PURPOSES OF SECTIONS 1272, 1273 AND 1275 OF THE INTERNAL REVENUE
CODE OF 1986, AS AMENDED, THIS SECURITY IS BEING ISSUED WITH ORIGINAL ISSUE
DISCOUNT AND THE ISSUE DATE OF THIS SECURITY IS MAY 12, 2003. IN ADDITION, THIS
SECURITY IS SUBJECT TO UNITED STATES FEDERAL INCOME TAX REGULATIONS GOVERNING
CONTINGENT PAYMENT DEBT INSTRUMENTS. FOR PURPOSES OF SECTIONS 1272, 1273 AND
1275 OF THE INTERNAL REVENUE CODE, THE COMPARABLE YIELD OF THIS SECURITY IS
8.25%, COMPOUNDED SEMI-ANNUALLY (WHICH WILL BE TREATED AS THE YIELD TO MATURITY
FOR UNITED STATES FEDERAL INCOME TAX PURPOSES).

         LIN TELEVISION CORPORATION (THE "ISSUER") AGREES, AND BY ACCEPTING A
BENEFICIAL OWNERSHIP INTEREST IN THIS SECURITY EACH HOLDER AND ANY BENEFICIAL
OWNER OF THIS SECURITY WILL BE DEEMED TO HAVE AGREED, FOR UNITED STATES FEDERAL
INCOME TAX PURPOSES (1) TO TREAT THIS SECURITY AS A DEBT INSTRUMENT THAT IS
SUBJECT TO TREAS. REG. SEC. 1.1275-4 (THE "CONTINGENT PAYMENT REGULATIONS"), (2)
TO TREAT THE FAIR MARKET VALUE OF ANY STOCK RECEIVED UPON ANY EXCHANGE OF THIS
SECURITY OR UPON A PURCHASE OF THIS SECURITY AT THE HOLDER'S OPTION AS A
CONTINGENT PAYMENT FOR PURPOSES OF THE CONTINGENT PAYMENT REGULATIONS, AND (3)
TO ACCRUE INTEREST WITH RESPECT TO THE SECURITY AS ORIGINAL ISSUE DISCOUNT FOR
UNITED STATES FEDERAL INCOME TAX PURPOSES ACCORDING TO THE "NONCONTINGENT BOND
METHOD," SET FORTH IN THE CONTINGENT PAYMENT REGULATIONS, AND TO BE BOUND BY THE
ISSUER'S DETERMINATION OF THE "COMPARABLE YIELD" AND "PROJECTED PAYMENT
SCHEDULE," WITHIN THE MEANING OF THE CONTINGENT PAYMENT REGULATIONS, WITH
RESPECT TO THIS SECURITY. THE ISSUER AGREES TO PROVIDE PROMPTLY TO THE HOLDER OF
THIS SECURITY, UPON WRITTEN REQUEST, THE ISSUE PRICE, AMOUNT OF TAX ORIGINAL
ISSUE DISCOUNT, ISSUE DATE, YIELD TO MATURITY, COMPARABLE YIELD AND PROJECTED
PAYMENT SCHEDULE. ANY SUCH WRITTEN REQUEST SHOULD BE SENT TO THE ISSUER AT THE
FOLLOWING ADDRESS: LIN TELEVISION CORPORATION, FOUR RICHMOND SQUARE, SUITE 200,
PROVIDENCE, RHODE ISLAND 02906 ATTENTION: TREASURER.

                                      A-1

<PAGE>

         UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPNAY TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (AND ANY PAYMENT HEREON IS MADE
TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

         TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN
WHOLE, BUT NOT IN PART, TO NOMINEES OF THE DEPOSITORY TRUST COMPANY, OR TO A
SUCCESSOR THEREOF OR SUCH SUCCESSOR'S NOMINEE AND TRANSFERS OF PORTIONS OF THIS
GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE
RESTRICTIONS SET FORTH IN ARTICLE TWO OF THE INDENTURE REFERRED TO ON THE
REVERSE HEREOF.

         THIS SECURITY AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXCHANGE OF
THIS SECURITY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT"), OR ANY STATE SECURITIES LAWS. NEITHER THIS
SECURITY, THE SHARES OF COMMON STOCK ISSUABLE UPON EXCHANGE OF THIS SECURITY NOR
ANY INTEREST OR PARTICIPATION HEREIN OR THEREIN MAY BE REOFFERED, SOLD,
ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE
ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT
SUBJECT TO, REGISTRATION.

         THE HOLDER OF THIS SECURITY, BY ITS ACCEPTANCE HEREOF, AGREES TO OFFER,
SELL OR OTHERWISE TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE "RESALE
RESTRICTION TERMINATION DATE") THAT IS TWO YEARS AFTER THE LATER OF THE ORIGINAL
ISSUE DATE HEREOF AND THE LAST DATE ON WHICH LIN TV CORP. OR ANY AFFILIATE OF
LIN TV CORP. WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH
SECURITY) ONLY (A) TO LIN TV CORP. OR ANY SUBSIDIARY THEREOF, (B) FOR SO LONG AS
THE SECURITIES ARE ELIGIBLE FOR

                                      A-2

<PAGE>

RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A "QUALIFIED
INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT
PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL
BUYER TO WHICH NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON
RULE 144A, (C) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED
EFFECTIVE UNDER THE SECURITIES ACT OR (D) PURSUANT TO ANOTHER AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO
THE RIGHTS OF THE ISSUER AND THE WITHIN MENTIONED TRUSTEE PRIOR TO ANY SUCH
OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (D) TO REQUIRE THE DELIVERY OF AN
OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH
OF THEM, AND IN EACH OF THE FOREGOING CASES WHERE REGISTRATION OF TRANSFER OF
THIS SECURITY IS REQUIRED, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON
THE OTHER SIDE OF THIS SECURITY IS COMPLETED AND DELIVERED BY THE TRANSFEROR TO
THE TRUSTEE. THIS LEGEND WILL BE REMOVED AFTER THE RESALE RESTRICTION
TERMINATION DATE UPON THE REQUEST OF THE HOLDER AND THE DELIVERY OF AN OPINION
OF COUNSEL, CERTIFICATES AND/OR OTHER INFORMATION SATISFACTORY TO THE ISSUER.]

                                      A-3

<PAGE>

                           LIN TELEVISION CORPORATION

           2.50% Exchangeable Senior Subordinated Debentures due 2033

No. R-1                   Principal Amount: $100,000,000 (or such lesser amount
                                                  as shown on schedule I hereto)

Issue Date: May 12, 2003                                        CUSIP: 532776AK7

         LIN TELEVISION CORPORATION, a Delaware corporation (the "ISSUER"), for
value received, hereby promises to pay to Cede & Co., or registered assigns, the
Principal Amount (as defined in the Indenture referred to on the reverse side of
this Security) on May 15, 2033.

         This Security shall bear interest as specified on the reverse side of
this Security and in the Indenture. Contingent Interest, if any, on this
Security, will be payable as specified on the reverse side of this Security and
in the Indenture. This Security is exchangeable and is subject to redemption at
the option of the Issuer or purchase at the option of the Holder hereof, all as
specified on the reverse side of this Security and in the Indenture.

         Reference is hereby made to the further provisions of this Security set
forth on the reverse hereof, which further provisions shall for all purposes
have the same effect as if set forth at this place.

                                      A-4

<PAGE>

         IN WITNESS WHEREOF, the Issuer has caused this instrument to be duly
executed.

                                         LIN TELEVISION CORPORATION

                                         By: ___________________________________
                                             Name:
                                             Title:

                                         By: ___________________________________
                                             Name:
                                             Title:

                                      A-5

<PAGE>

         This is one of the 2.50% Exchangeable Senior Subordinated Debentures
due 2033 described in the within-mentioned Indenture.

Dated:

                                         THE BANK OF NEW YORK, as Trustee

                                         By: ___________________________________
                                             Name:
                                             Title:

                                      A-6

<PAGE>

                       [FORM OF REVERSE SIDE OF SECURITY]

           2.50% Exchangeable Senior Subordinated Debentures due 2033

         This Security is one of a duly authorized issue of securities of the
Issuer (herein called the "SECURITIES") limited in aggregate Principal Amount to
$100,000,000 ($125,000,000 Principal Amount if the Initial Purchasers' option is
exercised in full), issued under an Indenture, dated as of May 12, 2003 (the
"INDENTURE"), among the Issuer, the Guarantors named therein and The Bank of New
York, as Trustee (the "TRUSTEE," which term includes any successor trustee under
the Indenture), to which Indenture and all indentures supplemental thereto
reference is hereby made for a statement of the respective rights, limitations
of rights, duties and immunities thereunder of the Issuer, the Trustee and the
Holders of the Securities and of the terms upon which the Securities are, and
are to be, authenticated and delivered. Capitalized terms used and not otherwise
defined in this Security are used as defined in the Indenture.

1.       Interest.

         This Security will bear interest from May 12, 2003 or from the most
recent date to which interest has been paid or duly provided for, semi-annually
in arrears on May 15 and November 15 of each year (each, an "INTEREST PAYMENT
DATE"), subject to Section 19.13 of the Indenture, commencing November 15, 2003,
at the rate per annum equal to 2.50%. Interest on this Security shall be
calculated on the basis of a 360-day year and the actual number of days elapsed
during the related Interest Period. Interest payable on this Security on any
Interest Payment Date will include interest for the immediately preceding
Interest Period. The interest so payable and punctually paid or duly provided
for on any Interest Payment Date will, as provided in such Indenture, be paid to
the Person in whose name this Security (or one or more Predecessor Securities)
is registered at the close of business on the Regular Record Date for such
interest, which shall be the May 1 or November 1, as the case may be,
immediately preceding the relevant Interest Payment Date. Any interest that is
payable, but is not punctually paid or duly provided for, on any Interest
Payment Date shall forthwith cease to be payable to the registered Holder hereof
on the relevant Regular Record Date by virtue of having been such Holder, and
may be paid to the Person in whose name this Security (or one or more
Predecessor Securities) is registered at the close of business on a Special
Record Date for the payment of such Defaulted Interest to be fixed by the
Issuer, notice whereof shall be given to the Holders of Securities not less than
10 days prior to such Special Record Date, or may be paid at any time in any
other lawful manner not inconsistent with the requirements of any securities
exchange on which the Securities may be listed, and upon such notice as may be
required by such exchange, all as more fully provided in the Indenture.

                                      A-7

<PAGE>

         2.       Ranking and Subordination

         The Issuer agrees, and each Holder by accepting any Security agrees,
that the Indebtedness evidenced by the Securities is subordinated in right of
payment, to the extent and in the manner provided in Article 5 of the Indenture,
to the payment when due of all Senior Indebtedness of the Issuer and that such
subordination is for the benefit of and enforceable by the holders of Senior
Indebtedness. The Securities shall in all respects rank pari passu with all
other Senior Subordinated Indebtedness of the Issuer, and only Indebtedness of
the Issuer that is Senior Indebtedness will rank senior to the Securities in
accordance with the provisions set forth herein.

         3.       Contingent Interest.

         From and after May 15, 2008, the Issuer will pay Contingent Interest on
this Security under the circumstances and in the amounts described in Article 17
of the Indenture. Such Contingent Interest, if any, shall be payable
semi-annually in arrears on each Interest Payment Date to the Holder of this
Security as of the close of business on the Regular Record Date relating to such
Interest Payment Date.

         4.       Interest on Overdue Amounts.

         If the Principal Amount hereof or any portion of such Principal Amount
is not paid when due (whether upon acceleration pursuant to Section 4.02 of the
Indenture, upon the dates set for payment of the Redemption Price, Purchase
Price or Fundamental Change Purchase Price or upon the Stated Maturity Date of
this Security) or if interest due hereon (including Contingent Interest and
Liquidated Damages, if any) (or any portion of such interest), is not paid when
due, then in each such case the overdue amount shall, to the extent permitted by
law, bear interest at the rate then borne by this Security, which interest shall
accrue from the date such overdue amount was originally due to the date payment
of such amount, including interest thereon, has been made or duly provided for.
All such interest shall be payable as set forth in the Indenture.

         5.       Method of Payment.

         Subject to the terms and conditions of the Indenture, the Issuer will
make payments in respect of Redemption Price, Purchase Price, Fundamental Change
Purchase Price and at Stated Maturity Date to Holders who surrender Securities
to a Paying Agent to collect such payments in respect of the Securities;
provided

                                      A-8

<PAGE>

that if any Redemption Date, Purchase Date or Fundamental Change Purchase Date
is any day during the period from the close of business on any Regular Record
Date immediately preceding any Interest Payment Date to the close of business on
such Interest Payment Date, accrued and unpaid interest (including Contingent
Interest and Liquidated Damages, if any) shall be paid to the Holder of record
as of the applicable Regular Record Date. The Issuer will pay cash amounts in
money of the United States that at the time of payment is legal tender for
payment of public and private debts. However, the Issuer may make such cash
payments by check payable in such money; provided that payment by wire transfer
of immediately available funds will be required with respect to principal of and
interest (including Contingent Interest, if any) on all Global Securities and
all Securities of Holders of more than $25,000,000 aggregate Principal Amount of
Securities that have requested such method of payment and provided wire transfer
instructions to the Issuer or the Paying Agent. If any Interest Payment Date
(other than an Interest Payment Date coinciding with the Stated Maturity Date or
earlier Redemption Date, Purchase Date or Fundamental Change Purchase Date)
falls on a day that is not a Business Day, such Interest Payment Date will be
postponed to the next succeeding Business Day and no interest on such payment
will accrue for the period from and after the Interest Payment Date to such next
succeeding Business Day. If the Stated Maturity Date, Redemption Date, Purchase
Date or Fundamental Change Purchase Date of this Security would fall on a day
that is not a Business Day, the required payment of interest, if any, and
principal will be made on the next succeeding Business Day and no interest on
such payment will accrue for the period from and after the Stated Maturity Date,
Redemption Date, Purchase Date or Fundamental Change Purchase Date to such next
succeeding Business Day.

         6.       Paying Agent, Exchange Agent and Registrar.

         Initially, the Trustee will act as Paying Agent, Exchange Agent and
Registrar. The Issuer may appoint and change any Paying Agent, Registrar or
co-registrar without notice, other than notice to the Trustee. The Issuer or any
of its Subsidiaries or any of their Affiliates may act as Paying Agent,
Registrar or co-registrar.

         7.       Indenture.

         The terms of the Securities include those stated in the Indenture and
those made part of the Indenture by reference to the Trust Indenture Act of
1939, as in effect from time to time (the "TIA"). The Securities are subject to
all such terms, and Holders are referred to the Indenture and the TIA for a
statement of those terms.

         8.       Redemption at the Option of the Issuer.

                                      A-9

<PAGE>

         No sinking fund is provided for the Securities. Prior to May 20, 2008,
the Securities shall not be redeemable at the option of the Issuer. Beginning on
May 20, 2008 and until the Stated Maturity Date, the Securities are redeemable
for cash as a whole, or from time to time in part, at the option of the Issuer
at a Redemption Price equal to 100% of the Principal Amount of the Securities,
plus accrued and unpaid interest (including Contingent Interest and Liquidated
Damages, if any) to, but excluding, the Redemption Date, as provided in Article
13 of the Indenture.

         If the Issuer redeems less than all of the outstanding Securities, the
Trustee will select the Securities to be redeemed (i) by lot; (ii) pro rata; or
(iii) by another method the Trustee considers fair and appropriate. If the
Trustee selects a portion of a Holder's Securities for partial redemption and
the Holder exchanges a portion of the same Securities, the exchanged portion
shall be deemed, to the extent practicable, to be from the portion selected for
redemption.

         9.       Notice of Redemption.

         Notice of redemption will be mailed at least 30 days but not more than
60 days before the Redemption Date to each Holder of Securities to be redeemed
at the Holder's registered address. If money sufficient to pay the Redemption
Price of all Securities (or portions thereof) to be redeemed on the Redemption
Date is deposited with the Paying Agent prior to or on the Redemption Date,
immediately after such Redemption Date interest shall cease to accrue on such
Securities or portions thereof. Securities in denominations larger than $1,000
Principal Amount may be redeemed in part but only in integral multiples of
$1,000.

         10.      Purchase By the Issuer at the Option of the Holder.

         Each Holder has the right to require the Issuer to purchase the
Securities held by such Holder on May 15, 2008, 2013, 2018, 2023 and 2028, or if
any such day is not a Business Day, the next succeeding Business Day (each, a
"PURCHASE DATE"). If required by any Holder, the Issuer shall purchase
Securities for cash at a Purchase Price equal to 100% of the Principal Amount
thereof, plus accrued and unpaid interest (including Contingent Interest and
Liquidated Damages, if any) to, but excluding, the Purchase Date, upon delivery
of a Purchase Notice containing the information set forth in the Indenture, at
any time from the opening of business on the date that is 21 Business Days prior
to such Purchase Date until the close of business on such Purchase Date and upon
delivery of the Securities to the Paying Agent by the Holder as set forth in the
Indenture.

         At the option of the Holder and subject to the terms and conditions of
the Indenture, the Issuer shall purchase all or a portion of the Securities held
by such

                                      A-10

<PAGE>

Holder as of the date that is not less than 20 nor more than 35 Business Days
after the occurrence of a Fundamental Change occurring prior to Stated Maturity
Date for a Fundamental Change Purchase Price equal to 100% of the Principal
Amount thereof, plus accrued and unpaid interest (including Contingent Interest
and Liquidated Damages, if any) to, but excluding, the Fundamental Change
Purchase Date, unless such Fundamental Change Purchase Date falls after a
Regular Record Date and on or prior to the corresponding Interest Payment Date,
in which case the Issuer shall pay the full amount of accrued and unpaid
interest (including Contingent Interest and Liquidated Damages, if any) payable
on such Interest Payment Date to the Holder at the close of business on such
Regular Record Date.

         Holders have the right to withdraw any Purchase Notice or Fundamental
Change Purchase Notice, as the case may be, by delivering to the Paying Agent a
written notice of withdrawal in accordance with the provisions of the Indenture.

         As provided in the Indenture, if cash sufficient to pay the Purchase
Price or Fundamental Change Purchase Price, as the case may be, of all
Securities or portions thereof to be purchased as of the Purchase Date or the
Fundamental Change Purchase Date, as the case may be, is deposited with the
Paying Agent on the Business Day following the Purchase Date or the Fundamental
Change Purchase Date, as the case may be, all interest (including Contingent
Interest, if any) ceases to accrue on such Securities (or portions thereof)
immediately after such Purchase Date or Fundamental Change Purchase Date, as the
case may be, and the Holder thereof shall have no other rights as such (other
than the right to receive the Purchase Price or Fundamental Change Purchase
Price, as the case may be, upon surrender of such Security).

         11.      Exchange.

         Subject to the terms of the Indenture, the Holder of a Security may
exchange the Security into shares of Common Stock at the Exchange Rate under the
circumstances set forth in Sections 14.02, 14.03, 14.04, 14.05 and 14.06 of the
Indenture. A Security in respect of which a Holder has delivered a Purchase
Notice or a Fundamental Change Purchase Notice exercising the option of such
Holder to require the Issuer to purchase such Security may be exchanged only if
such notice of exercise is withdrawn in accordance with the terms of the
Indenture. The Exchange Rate for the Securities on any Exchange Date shall be
determined as set forth in the Indenture.

         The Issuer shall deliver to the Holder through the Paying Agent, no
later than the third Business Day following the date on which the Applicable
Stock Price is determined, a certificate for the number of whole shares of
Common Stock issuable upon the exchange and cash in lieu of any fractional
shares.

                                      A-11

<PAGE>

         A Holder may exchange a portion of a Security if the Principal Amount
of such portion is $1,000 or an integral multiple of $1,000. No payment or
adjustment shall be made for dividends on the Common Stock except as provided in
the Indenture. On exchange of a Security, except for exchanges during the period
from the close of business on any Regular Record Date immediately preceding any
Interest Payment Date to the close of business on the Business Day immediately
preceding such Interest Payment Date, in which case the Holder on such Regular
Record Date shall receive the interest payable on such Interest Payment Date,
that portion of accrued and unpaid interest (including Contingent Interest, if
any) on the exchanged Security attributable to the period from the most recent
Interest Payment Date (or, if no Interest Payment Date has occurred, from the
Issue Date) through the Exchange Date shall not be cancelled, extinguished or
forfeited, but rather shall be deemed to be paid in full to the Holder thereof
through delivery of the Common Stock (together with the cash payment, if any, in
lieu of fractional shares) in exchange for the Security being exchanged pursuant
to the provisions hereof.

         Securities or portions thereof surrendered for exchange during the
period from the close of business on any Regular Record Date immediately
preceding any Interest Payment Date to the close of business on the Business Day
immediately preceding such Interest Payment Date shall be accompanied by payment
to the Issuer or its order, in New York Clearing House funds or other funds
acceptable to the Issuer, of an amount equal to the interest payable on such
Interest Payment Date with respect to the Principal Amount of Securities or
portions thereof being surrendered for exchange; provided that no such payment
need be made (1) if the Issuer has specified a Redemption Date that occurs
during the period from the close of business on a Regular Record Date to the
close of business on the Business Day immediately preceding the Interest Payment
Date to which such Regular Record Date relates, (2) if the Issuer has specified
a Fundamental Change Purchase Date during such period or (3) to the extent of
overdue interest or overdue Contingent Interest, any overdue interest or overdue
Contingent Interest exists on the Exchange Date with respect to the Securities
exchanged.

         No fractional shares will be issued upon exchange; in lieu thereof, an
amount will be paid in cash based upon the Applicable Stock Price.

         The Issuer agrees, and each Holder and any beneficial owner of a
Security by its purchase thereof shall be deemed to agree, to treat, for United
States federal income tax purposes, the fair market value of the Common Stock
received upon the exchange of a Security (together with any cash payment in lieu
of fractional shares) as a contingent payment on the Security for purposes of
Treasury Regulation Section 1.1275-4(b).

                                      A-12

<PAGE>

         To exchange a Security, a Holder must (a) complete and manually sign
the exchange notice set forth below or a facsimile thereof and deliver such
notice to the Paying Agent, (b) surrender the Security to the Paying Agent, (c)
furnish appropriate endorsements and transfer documents (including any
certification that may be required under applicable law) if required by the
Paying Agent, (d) pay any transfer or similar tax, if required and (e) if
required, pay funds equal to the interest payable on the next Interest Payment
Date.

         The Exchange Rate will be adjusted as set forth in Article 14 of the
Indenture

         12.      Exchange Arrangement on Call for Redemption.

         Any Securities called for redemption, unless surrendered for exchange
before the close of business on the Business Day immediately preceding the
Redemption Date, may be deemed to be purchased from the Holders of such
Securities at an amount not less than the Redemption Price, by one or more
investment bankers or other purchasers who may agree with the Issuer to purchase
such Securities from the Holders, to exchange them into Common Stock of the
Issuer and to make payment for such Securities to the Trustee in trust for such
Holders.

         13.      Denominations; Transfer; Exchange.

         The Securities are in fully registered form, without coupons, in
denominations of $1,000 of Principal Amount and integral multiples of $1,000. A
Holder may transfer or exchange Securities in accordance with the Indenture. The
Registrar may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents and to pay any taxes and fees required by
law or permitted by the Indenture. The Registrar need not transfer or exchange
any Securities selected for redemption (except, in the case of a Security to be
redeemed in part, the portion of the Security not to be redeemed) or any
Securities in respect of which a Purchase Notice or Fundamental Change Purchase
Notice has been given and not withdrawn (except, in the case of a Security to be
purchased in part, the portion of the Security not to be purchased) or any
Securities for a period of 15 days before the mailing of a notice of redemption
of Securities to be redeemed.

         14.      Persons Deemed Owners.

         The registered Holder of this Security may be treated as the owner of
this Security for all purposes.

         15.      Unclaimed Money or Securities.

                                      A-13

<PAGE>

         The Trustee and the Paying Agent shall return to the Issuer any cash
that remains unclaimed for two years after the date upon which the principal of
or interest on such Security shall have become due and payable, subject to
applicable unclaimed property law, together with interest, if any, thereon held
by them for the payment of the principal of or interest on such Security,
provided, however, that to the extent that the aggregate amount of cash or
Common Stock deposited by the Issuer pursuant to Section 3.01, 13.05, 15.04 or
16.03 exceeds the aggregate principal and interest due on the Securities or
portions thereof which the Issuer is obligated to purchase as of the applicable
date, then promptly after the Business Day following the such date, the Trustee
or the Paying Agent, as applicable, shall return any such excess to the Issuer.
Thereafter, any Holder entitled to payment must look to the Issuer for payment
as general creditors, unless an applicable abandoned property law designates
another Person.

         16.      Amendment; Waiver.

         Subject to certain exceptions set forth in the Indenture, (i) the
Indenture or the Securities may be amended with the written consent of the
Holders of at least a majority in aggregate Principal Amount of the Securities
at the time outstanding and (ii) certain Defaults may be waived with the written
consent of the Holders of a majority in aggregate Principal Amount of the
Securities at the time outstanding. The Issuer, the Guarantors and the Trustee
may amend the Indenture under certain circumstances without the consent of the
Holders, as described in the Indenture.

         17.      Defaults and Remedies.

         If an Event of Default occurs and is continuing, the Trustee, or the
Holders of at least 25% in aggregate Principal Amount of the Securities at the
time outstanding, may declare all the Securities to be due and payable
immediately. Certain events of bankruptcy or insolvency are Events of Default
that will result in the Securities becoming due and payable immediately upon the
occurrence of such Events of Default.

         Holders may not enforce the Indenture or the Securities except as
provided in the Indenture. The Trustee may refuse to enforce the Indenture or
the Securities unless it receives reasonable indemnity or security. Subject to
certain limitations, Holders of a majority in aggregate Principal Amount of the
Securities at the time outstanding may direct the Trustee in its exercise of any
trust or power. The Trustee may withhold from Holders notice of any continuing
Default (except a Default in payment of amounts specified in Section 4.01(a) or
(b) of the Indenture) if it determines that withholding notice is in their
interests.

                                      A-14

<PAGE>

         18.      Trustee Dealings with the Issuer.

          Subject to certain limitations imposed by the TIA, the Trustee under
the Indenture, in its individual or any other capacity, may become the owner or
pledgee of Securities and may otherwise deal with and collect obligations owed
to it by the Issuer or its Affiliates and may otherwise deal with the Issuer or
its Affiliates with the same rights it would have if it were not Trustee.

         19.      No Recourse Against Others.

         A director, officer, employee or stockholder, as such, of the Issuer or
any Guarantor shall not have any liability for any obligations of the Issuer or
any such Guarantor under the Securities or the Indenture or for any claim based
on, in respect of or by reason of such obligations or their creation. By
accepting a Security, each Holder waives and releases all such liability. The
waiver and release are part of the consideration for the issue of the
Securities.

         20.      Authentication.

         This Security shall not be valid until an authorized signatory of the
Trustee manually signs the Trustee's Certificate of Authentication on the other
side of this Security.

         21.      Abbreviations.

         Customary abbreviations may be used in the name of a Holder or an
assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the
entireties), JT TEN (=joint tenants with right of survivorship and not as
tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors
Act).

         22.      GOVERNING LAW.

         THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN THE INDENTURE AND THIS
SECURITY, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS.

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

         The Issuer will furnish to any Holder upon written request and without
charge a copy of the Indenture.

                  LIN Television Company
                  Four Richmond Square, Suite 200
                  Providence, RI 02906
                  Attention: Deborah Jacobson

                                      A-15

<PAGE>

                  Telecopy No.: (401) 273-8779

                                      A-16

<PAGE>

                                                                      Schedule I

                 [Include Schedule I only for a Global Security]

                           LIN TELEVISION CORPORATION
                  2.50% Exchangeable Senior Debenture Due 2033

No.  R-1

<TABLE>
<CAPTION>
                                                                                           Authorized Signature
                                                     Notation Explaining Principal         of Trustee or
Date        Principal Amount                         Amount Recorded                       Depositary Custodian
<S>         <C>                                      <C>                                   <C>
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</TABLE>

                                      A-17

<PAGE>

                          [FORM OF AFFILIATE GUARANTEE]

                          SENIOR SUBORDINATED GUARANTEE

         Each undersigned Guarantor (as defined in the Indenture referred to in
the Security upon which this notation is endorsed) hereby unconditionally
guarantees on a senior subordinated basis (such guaranty by such Guarantor being
referred to herein as an "Affiliate Guarantee"), jointly and severally, the due
and punctual payment of the principal of, premium, if any, and interest on the
Securities, whether at maturity, by acceleration or otherwise, the due and
punctual payment of interest on the overdue principal, premium and interest on
the Securities, and the due and punctual performance of all other obligations of
the Issuer (including, without limitation, the Issuer's obligation to deliver
Common Stock or shares of stock, other securities or other property or assets
(including cash) upon an exchange of the Securities pursuant to Article 14) to
the Holders or the Trustee, all in accordance with the terms set forth in
Article 6 of the Indenture.

        The obligations of each undersigned Guarantor to the Holders of
Securities and to the Trustee pursuant to its Guarantee and the Indenture are
expressly set forth in, and are expressly subordinated and subject in right of
payment to, the prior payment in full of all Guarantor Senior Indebtedness (as
defined in the Indenture) of such Guarantor, to the extent and in the manner
provided in Article 6 and Article 7 of the Indenture, and reference is hereby
made to such Indenture for the precise terms of such Guarantee therein made.

         This Affiliate Guarantee shall not be valid or obligatory for any
purpose until the certificate of authentication on the Securities upon which
this Affiliate Guarantee is noted shall have been executed by the Trustee under
the Indenture by the manual signature of one of its authorized officers.

         This Affiliate Guarantee shall be governed by and construed in
accordance with the laws of the State of New York without regard to principles
of conflicts of law.

         This Affiliate Guarantee is subject to release upon the terms set forth
in the Indenture.

                                      A-18

<PAGE>

                                         LIN TV CORP., as Guarantor

                                         By: ___________________________________
                                             Name:
                                             Title:

                                      A-19

<PAGE>

                                         AIRWAVES, INC.
                                         KXAN, INC.
                                         KXTX HOLDINGS, INC.
                                         LINBENCO, INC.
                                         LIN SPORTS, INC.
                                         LIN TELEVISION OF SAN JUAN, INC.
                                         LIN TELEVISION OF TEXAS, INC.
                                         PRIMELAND TELEVISION, INC.
                                         NORTH TEXAS BROADCASTING
                                           CORPORATION
                                         WNJX-TV, INC.
                                         WOOD TELEVISION, INC.
                                         WTNH BROADCASTING, INC.
                                         TVL BROADCASTING OF ABILENE, INC.
                                         TVL BROADCASTING, INC.
                                         WEYI TELEVISION, INC.
                                           as Guarantors

                                         By: ___________________________________
                                             Name:
                                             Title:

                                      A-20

<PAGE>

                                         TELEVICENTRO OF PUERTO RICO,
                                          LLC, as a Guarantor

                                         By: LIN Television of San Juan, Inc.,
                                             its Managing Member

                                         By: ___________________________________
                                             Name:
                                             Title:

                                      A-21

<PAGE>

                                         INDIANA BROADCASTING, LLC
                                         LIN AIRTIME, LLC
                                         PROVIDENCE BROADCASTING, LLC
                                         WAVY BROADCASTING, LLC
                                         WOOD LICENSE CO., LLC
                                         WIVB BROADCASTING, LLC
                                         WWLP BROADCASTING, LLC
                                           as Guarantors

                                         By: LIN Television Corporation,
                                             its Managing Member

                                         By: ___________________________________
                                             Name:
                                             Title:

                                      A-22

<PAGE>

                                         LIN TELEVISION OF TEXAS, L.P.
                                         as a Guarantor

                                         By: LIN Television of Texas, Inc.,
                                             its General Partner

                                         By: ___________________________________
                                             Name:
                                             Title:

                                      A-23

<PAGE>

                                         ABILENE BROADCASTING, LLC
                                         TVL BROADCASTING OF RHODE
                                          ISLAND, LLC
                                         WDTN BROADCASTING, LLC
                                         WEYI BROADCASTING, LLC
                                         WUPW BROADCASTING, LLC
                                           as Guarantors

                                         By: TVL Broadcasting, Inc.,
                                             its Managing Member

                                         By: ___________________________________
                                             Name:
                                             Title:

                                      A-24

<PAGE>

                                 ASSIGNMENT FORM

To assign this Security, fill in the form below:

         For value received ______________________________hereby sell(s),
assign(s) and transfer(s) unto ___________________________________ (Please
insert social security or other Taxpayer Identification Number of assignee) the
within Security, and hereby irrevocably constitutes and appoints
______________________________________ attorney to transfer said Security on the
books of the Issuer, with full power of substitution in the premises.

         In connection with any transfer of the Security prior to the expiration
of the holding period applicable to sales thereof under Rule 144(k) under the
Securities Act (or any successor provision), the undersigned confirms that such
Security is being transferred:

         [ ]      To LIN TV Corp. or a subsidiary; or

         [ ]      To a "QUALIFIED INSTITUTIONAL BUYER" in compliance with Rule
                  144A under the Securities Act of 1933, as amended; or

         [ ]      Pursuant to a registration statement that has been declared
                  effective under the Securities Act of 1933, as amended, and
                  that continues to be effective at the time of transfer; or

         [ ]      Pursuant to and in compliance with another available exemption
                  from the registration requirements of the Securities Act of
                  1933, as amended.

         Unless one of the boxes is checked, the Trustee or Registrar will
refuse to register any of the Securities evidenced by this certificate in the
name of any person other than the registered holder thereof.

Dated: ______________________

                                         ____________________________________

                                         ____________________________________
                                         Signature(s)

                                         Signature(s) must be guaranteed by
                                         an "ELIGIBLE GUARANTOR INSTITUTION"
                                         meeting the requirements of the
                                         Security registrar, which

                                      A-25

<PAGE>

                                         requirements include membership or
                                         participation in the Security Transfer
                                         Agent Medallion Program
                                         ("STAMP") or such other
                                         "SIGNATURE GUARANTEE PROGRAM" as
                                         may be determined by the Security
                                         registrar in addition to, or in
                                         substitution for, STAMP, al in
                                         accordance with the Securities
                                         Exchange Act of 1934, as amended.

                                 _________________________________________
                                         SIGNATURE GUARANTEE

                                      A-26

<PAGE>

                                 EXCHANGE NOTICE

To exchange this Security into Common Stock, check the box:

To exchange only part of this Security, state the Principal Amount to be
exchanged (which must be $1,000 or an integral multiple of $1,000): $
___________________________

If you want the stock certificate made out in another person's name, fill in the
form below:

________________________________________________________________________________

                 (Insert other person's soc. sec. or tax ID no.)

________________________________________________________________________________

            (Print or type other person's name, address and zip code)

Your
Signature: _____________________________________________

(Sign exactly as your name appears on the other side of this Security)

                                      A-27

<PAGE>

                                 PURCHASE NOTICE

TO:      LIN TELEVISION CORPORATION
         THE BANK OF NEW YORK

         The undersigned registered owner of this Security hereby irrevocably
acknowledges receipt of a notice from LIN Television Corporation (the "ISSUER")
regarding the right of holders to elect to require the Issuer to purchase the
Securities and requests and instructs the Issuer to purchase the entire
Principal Amount of this Security, or portion thereof (which is $1,000 Principal
Amount or an integral multiple thereof) designated below, in accordance with the
terms of the Indenture at the price of 100% of the Principal Amount or
proportional portion thereof, together with accrued interest (including
Contingent Interest and Liquidated Damages, if any) to, but excluding, the
Purchase Date, to the registered holder hereof. Capitalized terms used herein
but not defined shall have the meanings ascribed to such terms in the Indenture.
The Securities shall be purchased by the Issuer as of the applicable Purchase
Date pursuant to the terms and conditions specified in the Indenture. This
election is made pursuant to Article 15, Purchase at Option of Holders at May
15, 2008, 2013, 2018, 2023 and 2028.

         Dated:

         Signature(s):

         NOTICE: The above signatures of the holder(s) hereof must correspond
with the name as written upon the face of the Security in every particular
without alteration or enlargement or any change whatever.

         Security Certificate Number (if applicable):

         Principal Amount to be purchased (if less than all):

         Social Security or Other Taxpayer Identification Number:

                                      A-28

<PAGE>

                     OPTION OF HOLDER TO ELECT PURCHASE UPON
                               FUNDAMENTAL CHANGE

TO:      LIN TELEVISION CORPORATION
         THE BANK OF NEW YORK

         The undersigned registered owner of this Security hereby irrevocably
acknowledges receipt of a notice from LIN Television Corporation (the "ISSUER")
regarding the right of holders to elect to require the Issuer to purchase the
Securities upon a Fundamental Change and requests and instructs the Issuer
pursuant to Section 16.01 to purchase the entire Principal Amount of this
Security, or portion thereof (which is $1,000 Principal Amount or an integral
multiple thereof) designated below, in accordance with the terms of the
Indenture at the price of 100% of the Principal Amount or proportional portion
thereof, together with accrued interest (including Contingent Interest and
Liquidated Damages, if any) to, but excluding, the Fundamental Change Purchase
Date, to the registered holder hereof. Capitalized terms used herein but not
defined shall have the meanings ascribed to such terms in the Indenture. The
Securities shall be repurchased by the Issuer as of the Fundamental Change
Purchase Date pursuant to the terms and conditions specified in the Indenture.

         Dated:

         Signature(s):

         NOTICE: The above signatures of the holder(s) hereof must correspond
with the name as written upon the face of the Security in every particular
without alteration or enlargement or any change whatever.

         Security Certificate Number (if applicable):

         Principal Amount to be purchased (if less than all):

Social Security or Other Taxpayer Identification Number:

                                      A-29

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