---Station Transactions: 1991 through September 1998
Page 35 BEAR STEARNS Station Transactions -1991 through September 1998 - In this section, we provide quarterly summaries of significant television transactions that have occurred from 1991 through September 1998. The data summarized include:
• the date a transaction was announced (rather than closed)
• the property or properties acquired/swapped
• the affiliation of the acquired/swapped property
• the Designated Market Area (DMA) in which the acquired/swapped television station operates
• the purchaser
• the seller; and
• the purchase price, on the date of announcement.
Since the majority of these transactions were private, cash flow and transaction multiple estimates were not available for most of the properties and therefore were not included.
These data can be used to determine 1) which broadcasters have been active buyers and sellers; 2) the relative prices paid for different properties in the same market; and 3) relative acquisition activity by quarter.
Sources for data in this section: Bear, Stearns & Co. Inc.; Broadcasting & Cable Magazine; Broadcast & Cable Fax; The Wall Street]oumal; The New York Times.
BEAR STEARNS Page 36 Q." J
T_T_...... -~l.. &lifriillOCiklli DOIlii1Iilid IG\CO "'-1Y IIoIbIIntIAno IIl_alllIoI\ 5ep(eri>e<21,1998-- WPGJ(·TV -Fox p"""",ClIy, FL --Woin Broodcas1ing -WIcks_IG~ $7.1_ ~B,I998 WOKR·TV ABC _.NY _,CoorluicaIiono Si1dIir_I~ $125_
5ep(eri>e< B, 1998 WGME·TV CBS P_,ME SW1cIair_IG""4' Guy GaMoII CoImu1IcoIlono $310_ WlCS-TV NBC ~& Splilgfield-Deca".IL Si1dIirB_IG~ GuyGaMoll~ $310_ Guy _ Cormuicationo WlCD·TV lSimJl;ul) NBC ~ & SpmgfieId-Decalur,IL SW1cIairB_IG~ $310_ Guy _ CoImu1Icollons KGAN·TV CBS CdrRapidS, IA SW1cIairB_IG~ $310_ __IG~ Guy _ CoImu1IcolIons WGGB·TV ABC 5pinglieId,MA $310_ Guy _ CoImu1Icollons WTWC·TV NBC TIIiIaha_.Fl SW1cIairBroadcaItG~ $310_ Guy _ CoImu1Icollons WOKR·TV ABC _,NY SW1cIair_IG~ $310_
$9 _ _ , ComnuicaIion. August 31,1998 WlVT·TV ABC Ilirlghomlon,NY USB_IG~
August 24,1998 V/GNX·TV CBS _,GA Me"''''Cofp. T_eo. SwIp.-.... $370 niIion KCPO-TV Fox S8alIe, WA TribuleCofp. Me"''''Cofp. SwIp._IorS370.-.
August 24, 1998 KCPO-TV Fox Beale, WA Me"''''Cofp. Kelly BIOlIdcasIlng S3B0_
August 21, 1998 KCRA·TV NBC Sacramenlo, CA HoalSl·.IIgyIoT_sion Kellyllroedcasting S509_ KQCA·TV WB Sklck10n lSacramenlol, CA Assuring Loc:aI MaIl August 20, 1998 WNEQ-TV PBS ~aIo,NY SW1cIairB_IG~ Woslom Now Y"'" NlIc Broadcosli1g Association $33_ August lB, 1998 KGBT·TV CBS Haotingon, TX CoomosBroadcosli1g e-Co!mU'kallons 142_ August B, 1998 WMHO·TV PBS ~,NY Sindair Broadca.1 G""4' WI.tHT Educational Teiec:omnUlication. $23_ .ktf28,l998 WUPW·TV Fox T_,OH STCB_1ing Rayaxn_ $13_ .uyB,I998 WIYB·TV CBS ~aIo CI18IlalIlorMeclaCofp linT_COoperation $l.72b1lion Lin T_ COoporaIion WlSH·TV CBS Indianapolis ChanceIIot MecIa Cofp $1.72b1lion WAV'I·TV NBC NoItolc(_) ChanceIIot MecIa Cofp Lin TelovIsion COope..tion $1.72b1lion Lin T_ COoporaIion KXAN·TV NBC Austin CI18IlalIlor_Cofp $l.72b1lion WAND-TV ABC ~ ..,IL CI18IlalIlorMeclaCofp Lin T_sion COoporaIion $1.72b1lion WTNH·TV ABC HartIoIll'(New Hawn), CT CI18IlalIlor_Cofp LinTelovision COoperation $1.72b1lion WANE·TV CBS FoItWayne,IN CI18IlalIlorMeclaCofp LinTelovisionCOoporaIion $l.72b1lion WOOIl-TV NBC Grand RapidS C_MeclaCofp Lin T_sion COoporaIion $l.72b1lion WBNE·TV WB Hartlolll'(New Haven), CT CI18IlalIlor_Cofp Lin Telovision COoporaIion $1.72b1lion WOTV·TV ABC GIIIldRapidS CI18IlalIlor_Cofp Lin Telovision COoporaIion $1.72b1lion ChanceIIot _ Cofp WYBT·TV WB -I-I Lin TelovIsion CoopoIalion $1.72b1lion KNYA·TV WB Austin,TX CI18IlalIlor_Cofp LinT_COoporaIion $1.72b1lion Page 37 BEAR STEARNS T_IoftT....OC:....-_l.. ~T_ DooIgnotod "'-" A_ IIIr1co11ngArol Purd1INr 501« -(ll_oIOM1) _'.1998- KIIW8·lV WB EJP... \\lite KJ'911 Broadca.ting UN2JC Com1Uication. $10_ "",25.1998 WESH·lV NBC 0_(Dlyq. Beach) Haa..t~ NIlar $1.85_ KCeI·lV CBS oesMoines Haarsl~ NIlar $1.85_ WYFf·lV NBC G_.SC Haa..t~ NIzar $1.85_ _ 0IIaan. $1.85 _ WDSU·lV NBC Haarsl~ NIlar WGAI.·lV NBC Harrisbuog Haarsl~ NIzar $1.85_ WlKY·lV CBS ~.KY Haarsl AIvyIa NIzar $1.85_ WXI~lV NBC G...... ~I.NC Hearst AIvyIa NIzar $1.85_ KOAT·lV ABC ~.NlI Hearst~ NIzar $1.85_ KOfT·lV SAT GaIup~). NIl Hearst~ NIzar $1.85_ KOCT·lV SAT Cad_ (AIluqualque). NIl Haarsl AIvyIa NIzar $1.85_ KOVT·lV SAT _Clly(~I.NlI Hearst AIvyIa $1.85_ KETV·lV ABC Qnalha,NE Haarsl~ - $1.85_ ...,111.1998 WHPX·lV InTV -~ D.P._ _B.-.atIng $15.25.- __niT_CO. "",11.1998 KlIEG·lV CBS -City Walttllooadcoaling $12.25'- ...,11.1998 WALB·lV NBC ~.GA co-- 8Ioodcaslilg Gray COrnnu1Icatoo1s $78'- ...,11.1998 WBPX·lV InTV _.(8oslon.IlA) DP_ Puson COlmu1icaIons $IB.- lIay 11. 1998 KHSL·lV CBS ~.CA e--t_~ Gddan E"""T_ 110.- ...,B.11198 WWAY·TV ABC ~NC CO--IlloacleosIirv Hilside_1ling NA ...,4.11198 KXRlI-lV Fox ~Spi1g"CO GOCOli CoImuications IOlRII PIl1nar1hIp 141.5'- ~29.1998 KVlY·lV NBC Flrgo.NoIlhDakote _T_ ...,.,B.-.atIng $63.75'- KfYR·lV NBC -.NorI1 Dakote _T_sion ...,...B.-.atIng $63.75.- _. NorI1 Dakote KMOT·TV SAT _T_ ...,.,B.-.atIng $63.75'- KQC[).lV SAT llicI April 27. 1998 KFJ(K·lV Fo' longview, T"u.s vne KJ'911 Broadcasting Inwood 1.....""P.-.hip 111.5mi1ion ~27.1998 WFXL·lV Fo' AI>anV. GA 'Md April 13. 11198 WSYX·TV ABC coumu'.OH Silclair_.lng RiYarCilyBIlllMlcas1ing S22B_ April 7. 1998 WOI0TV CBS CIeYeIand. OH Raycom ""Ir'le NA WXIX·lV Fo. CilciannaI. OH Raycom Malrile NA WFLX·lV Fo' _IPaIm_.FL Raycom ""lriIe NA WNWOTV NBC ToIedo.OH Rlycom MalrU NA WLII·lV San _. Puerto Rico Raycom Mallie NA WSUR·TV Ponce. Puerto Rico Raycom Malme NA BEAR STEARNS Page 38 1 "---_.._---, '_'_-_1. -.- -,- (II_oIDool) "-" ....-.- 1II1dl31,I.- WOAC-TV -IND CriIn (CloMnd. 011) -ShopN.Hamo - -123_ _31,1. WlUK,TV fox _Bay,WI EnnllIIloIdcull1g --USA_,Inc" 1307_ IOtON-TV fox _,II EnnllIIloIdcull1g USA_,Inc" 1307_ WALA-TV fox _,AI. EnnllIIloIdcull1g USA_,1nc. 1307_ YMJE.TV fox Now OIIoMI,LA EnnllIIloIdcull1g USA_,Inc" 1307_ _31,1. WTII·TV CBS T..._,II EnnllIIloIdcull1g _V...,-..ng,Inc" 110_$110 _ WFlX·TV fox Fllll ....,Fl EnnllIIloIdcull1g _ V...,-..ng,In:" 11I""18,1. WVNY·TV ~ ~,VT ChomoI22 T_Stolon Inc" US_a""",LP w_ 11I""'6,1. KOlA·TV CBS SpringIioId,MO US_GnqI CooporFomiIy 182_ III"" 12,1998 WNGM·TV HSN -,GA USAB_ing Pauon 150"0_ I'I1lSF·TV IHO MeIloumo (Ot18ndo-Dayma Beach) USAB_ing -'rL.l"C" 150"0_ KEVN·TV FOl RapId CI1y, Soulh Dakota USA Broadca.ing IIlIId Ma"" 12, 1998 KBsp·TV HSN POI1Iand,OR Paxson Corrm.ncaIoos B1ad 1IIn:h5,1998 WlYK·TV UPN NapleslFL Myers ACMET_lien Sec:ald Generation 115"5_ Man:h2,1998 WPXE·TV REL DPMedaIr<. Paxson Cormuicalons 16.0_ FebnJaIy 24, 1998 KXAS·TV NBC -Oa",. TX NBC (_). LIN T_lien (20%)_ Veniln LINT_lien Valuation approllimllod all890 IIIIon AllributionloNBC February 24,1998 YmV·TV FOl _,TN Silclair Broadcast Group SUivan Broadcasting Co" /wO~ll- WUXP·TV (LMA) UPN Sildair Broadcast Group SUivan Broadcasting Co. /wOlIimI1eIyll_ WUTV·TV FOl BullaIo,NY Si1ctair Broadcasl Group SUivon Broadcasting Co /wOlIimIloIy 11_ KOI(H·TV FOl OIdahoma CI1y, OK Sildair Broadcasl Group SUIvIn Broadcasting Co. /wOlIimI1eIyllbi1on __Broadca.1 G""", WXLV·TV ABC G_Il1$Ion·Sa!em 5Uivan Broadcasting Co. /wOlIimI1eIyllbi1on WUPN·TV (LMA) UPN Sindair B_1G""", SUIvIn Broadcasting Co. /wOlIimI1eIy 11 biIon WRGT·TV FOl DaY'oo,OH Si1dair Broadcast Gftlt4J StJIvan BroadcasIlng Co. /wOlIimIloIy 11 biIon __B_IG""", WO/AH·TV FOl ChatteslcllYHunmglon. WO/ StJIvan Broadcaslillg Co. /wOJIino1eIy$I_ WRLH·TV FOl Richmond, VA _irBroadcasl a""", SUIvan Broadcasting Co" /wOlIimI1eIyll_ WUHF·TV Fox _er,NY 5_ir_IG""", SUIvIn Broadcasting Co. /wOlIimIloly$l_ YAlSN-TV FOl Malison, WI _irB_tG""", SUlvlnBroadcaalingCo /wOlIimI1eIyll_ WTAT,TV FOl C_,5C _ir_IG""", SUIvIn Broadcaslillg Co. /wOlIimI1eIy$lbi1on I'/FXV·TVIWPNY-LPTV Fox/UPN Ulca, NY _irB_1G""", SUiYon Broadcasting Co. /wOlIimI1eIy$1 blIoo February 20,1998 WNNE·TV NBC BuI1inglof>flal1Jbu'l1ll1Ha_, VT} HearslA!gyte STC_ting SWlpa""",_ $100_ WPTZ,TV NBC ButtingIof>'(PIo.~) HeaBIA!gyte STCBroadc:asing SWIp_lIimIllId $100_ KSBW·TV NBC MonIeray-(SaIinal), CA HeaBIA!gyte STC_ting Swap_lIimIllId $100_ Page 39 BfAR STEARNS T_IanT_-_l. DaltT...... ~ ~ -'- 1IorblIntI- -(11_01Doll) -- SwIp __$I00_ F_ry20.1!11l8- ABC STC-.ng WDTN·TV Dayton -HooIIIAlgyIo SwIp __$I00_ WNAC·TV FOX P-.:o STC-.ng HooIIIAlgyIo Fllbruary18.1ll!l8 WKRG·TV CBS _.AI. SpOJIIn Coomulica_ WKRG·TVIne. $84_ Fllbruary18.1ll!l8 WNll·TV INO A1e_.LA WIiItK,;;-.r-.ng WNTz..I81nc. $7_ Fllbruary 18.1ll!l8 WFHl·TV !NO ~ Pmon ComnuicIIoos o-turF_1lIuodcasli'g $8.25_ WAup·TV IJoJk S_.NY P_ComnuicIIoos ,. S_MinoriIy TV Inc. $5.75_ F_ryI5.1!11l8 KFBT·TV WB laIVegos._ SincIlir_S1Gooup _IlIuodcasli'gColporaIion 133_ _ryD.l!11l8 KOIOf.TV Fo. 0IdII10ma Ci~. OK SindIlir_IGooup SIlIvIn Ilooo-.g Co. 0plI0n 10 Iluy lor 160'- __IGooup weHS·TV ABC ~.WV SIlIvIn ~ Co. Option 10 Iluy '" $30 _ ~D.lll!l8 WPTZ·TV NBC IlurIingIon Fllbruary2.1ll!l8 weFC·TV INO CNcago.ll Pmon Coomulicalions ~ ComnuicIIoos $128_($I20_caahplulopllonlo IluyCP"'KWOK) ...... ry26.1ll!l8 KTZZ·TV WB Soalle.WA TriblIloCo. Enwni. 8nladculing SwlpolWOCO-F 1_1160_) WXIII·TV Fo. Grand Rapids. III TriblIloCo. Enwni. 8nladculing SwlpolWOCD-F 1_$160_) ...... ry26.1ll!l8 KOLN·TV CBS ~.Neb Gray Comnu1ications SyslemS 1IuIso_IngCoIp. $112_ KGIN·TV CBS Grand I...nd. Neb Gray Coonnu1icalions SysItlmS IIuIso-.ngColp. $112_ WEAlJ. TV NBC Eau aaint. IMs Gray Coomulicaionl SySI"'" IIuIso-.ngColp. 1112_ ...... ry 13. 1ll!l8 WWIIT·TV CBS Grand Rapids. III F_ComnuicIIoos GraniteBroadcaling 1170_ VIlAJ-TY ABC Lansilg.1II F_Coomulicaionl Granite_ling 1170_ BfAR STEARNS Page 40 T_T...... - fourth.QuorIor 1117 D_ocl... TranNCtion Dalgnolocl Price "'-" A_ IIorIcoIIngAIN IIl_olDoal) 1lec:errb!f3.1997 WKEF·TV NBC Dayton.OH Si1cIa. Broodcasl Group -Ma,Mecia $255_ -"__sIGroup WSYT·TV FOX Syracuse Ma. Meeta $255_ KBSl·TV FOX Cape GiIlIdeaU (Paducah) sndair Broadcast Group MaxMecla $255_ WEIIT·TV FOX Tri-tiNs Sildair Broodcasl Group Ma,Mecia $255.- KETK·TV NBC TylofIlongview, TX SildoirBrooclcaslGroup Ma,Mecla $255.- KLSB·TV SAT TylofIlongview, TX Si1cIair_IGroup Ma,Mecia $255_ WIIMp·TV UPN cnallestlX1. SC SildoirBrooclcaslGroup MIl. Media $255_ p1us'- slalions in _,VA (WFOG·F, WPTE·F, WWOE-F. WNVZ·F) and G""",sbon>W~slol1 Salem, High Painl, NC (WIIOX, WOMG. WJMH·F and WQMG·A) $255_ $11 _ 1lec:errb!f1,1997 KADY·TV UPN SanlaBalbara BiImCinl Broadcasling (Brian E. Cobb 51% OWner) _ W. Hyde TNSlao _24,1997 KBGE·TV INO BeIlewe(5eaItle, Wash.) Paxaoo Cormu1italions Value Vision klIamalionallnc. 135_ _17.1997 WUBI·TV INO ~ (Savamah, GAl Southem TV CoIp Updudl Broadcasling Inc. $3.36_ _17,1997 WJCB·TV INO _,VA Paxson Conrruitakns Lottwood Brooclcasling $14.75_ _17,1997 KLGT·TV WB Minneapolis, lIN Sinclair Brooclcasl Group LakoIand Group TV Inc. $52.5_ _17,1997 WIAJ·TV ABC Lansing, III G...... Brooclcasling,lnc. Joel I. F_ $1904_ _17,1997 WYTII·TV NBC Bifmi1gham, Al UN TaIeviIionColp. NBC Inc. $199_ _lal997 WHSW·TV UPN BaIlImoal,1I0 UniIed Telavisian HSNlInc. (USA Ne_, Inc.) m_ Page 41 BEAR STFJ\RNS T_T...... -_1117 DoIoT...... DMignolooI ...... ~ -..ne- (1I_"'DooI) __10,1997 -- - KFBf.TV -WB (MV_, IN 1oarre7_-.gs -Kc*er FIll1IIy 133_Ior_ _'0,11197 WRSW·YY UPN Ottando, FL BHC ComnuieaionoAJl Television -1IroodcuIng llIO,3_ ~27,1997 WNDy·yy WB Marion~ncIInapoIiI, IN) YIIOOl11In1e_ IMS 8IOIdcuIilg 135,0_ __lngSjIlem ~20,1997 WCSH,YY NBC Polland, ME _co. $11lO-$120_ __IngSjIlem WLBZ·YY NBC Bangor, ME _co. $11lO-$120_ _ COrmuicaIIOnI _ COrmuicaIIOnI ~20,1997 WKFT,YY INO FIjlIt1Me. NC $18.5 _ ~13,1117 KXLT,YY Ind. _,MN -,Conmr1icIIono KXA ~13,1997 KAPA·YY 00'" _,HI Paxson Cormuic:aIons 0-8IOIdcuIilg $5.0_ ~13,1997 K/M".yy CBS Twi'lFIII,ID CaIan'oomI·ldaho UconIe Roo! COnm.Iri ~6,1997 KOFY·YY WB SlIlF_o,CA GrarileBroodcastng.lnc. J._ S143.S_IiU$30_""""""", ~6,1997 WJET·YY ABC Etie,PA No_Broodcasting IABRV) JoIBroodcastng SIB.S_ BfAR STfARNS Page 42 T_T_-~ll17 _T_ ~ ...... " A_ ...-..- -(1I_0I000Il ~22,Ill97 KXllR·lV G_VliIoylT.-.,AZ) PuIon Comnu1icdOnI -SW1gIIICotp. $4_ DIItc - _ Boood ~22,Ill97 WFAY·lV Fo. F.~,NC Plxson CGnmncaIons F.~ndT_ $4.5_ ~22,1997 _·lV CBS YOIIlgIbIm, OH GOCOII ComnuicalionI Wl ~8,1997 KDEB·lV FOX SpringfiaId,MO SoJioIan S""'dcaIling (ABRY _IIP_) P_EqIiIyPamn $140_ WTYW·lV FOX E_ SoJioIanllloadcollklglABRY _IIP_I P_E,,*,1'amorI $140_ KARO-lV FOX _ElDorado SoJioIan S"",dcaIling (ABRY _IIPIlItnoB) P_E~P_ $140_ WQRF·lV FOX 5UmnS"",dcaIling(ABRYBroadcaI\PIlItnoB) P_E~_ $140_ KlBK·lV CSS -W>bock 5Umn _dcaIling (ABRY Sroadcall PIlItnoBI P_E~1'amorI $140_ ~S,1997 KZAR·lV WB SlltLalotCily _T_,LtC R_SroIIdcaIling $14.0_ KAOIJ·lV WB AIl\lquIlnIJo.NU _T_,LtC _Stalon plual8.S_in_ Ha__.CT ~4,1D97 WVJT·lV NBC N8Cl_ElacIricI Swap·_ NBC~$I30_and WWHO-lV WB CoUltua,OH V...." Swap. NBC bu;ng WWHO-lV and WlWC·lV NA P-.:e,Rl Swap-NBC Wlwt-lV 110m Fanllor $Ii_ ~4,1997 KENS·lV CSS San_,TX -A. H. 8110 CcIp. 8110 gMng 51% of lV Food ~- _andS75_ __ VA ~2,1D97 WGNT·lV UPN CenIalYiIII C ~1.1D97 V/CEE·lV InlV MI. VIll1llfl.IL lSI. Louis). MO -DP._Inc. Puson CoImuic:aIons $4.8_ WlLV·lV InlV _ CIooIl (Gland Rapids). UI D.P._Inc. Puson CoImuic:aIons $7.0_ AilpI2S, 1997 KRCA-lV INll _ (Loa Mgslas), CA L-.Boood AilpI2S. 1997 WlCN·lV !NO _,KY _ eant'" C AilpI2S, 1997 wyoc·lV INll Cooing, NY VIsion CoImuic:aIons s_a-qCclp. $1.75_ Page 43 BEAR STEARNS T_1on TI'III'oetIon, - Thir~_11117 Dill Tl'lnlldlon Ollignllod Pritl A_ Proporty A_lion lI..tIotlngAni Pun::hll... SoIIor (11_01Doll) AugJsl ", 1997 KXA$·TV NBC OaKas·FtWorth, TX Hick, Muse Tale and Fursl LIN Television eo", (ATlT) $1.71 billioo WlVB·TV CBS BurralO, NY Hick, Muse Tate and Furst LIN Television eo",. (ATlTI 1'.7Ibillioo WlSH·TV CBS Indianapolis, IN Hick. Muse Tale and Furs! LIN T_sion eo",. (ATlT) 11.71 billon WAVY·TV NBC NOIlQ1l (Ponsmou1h), VA Hide, Muse Tale and Fursl LIN T_sioneo",. (ATlTI $1.71 biIion KXAN·TV NBC Auslil, TX Hick, Muse Tale and Furst LIN Television eo",. (AT&T) 11.71 biIlioo KXAM·TV SAT llano, TX Hick, Muse Tale and Furst LIN TeI"';sioneo",. (ATlT) 11.71 billon WANO·TV ABC CharrjlaigrVSpnngl_lur.IL Hick, Muse Tale and Furs! LIN T_sion eo",. (AT&T) $1.7IbiIlioo WTNH·TV ABC Hartlonl'(New HaY..,), CT Hick. Muse Tale and Furst LIN Telll'Itsion eo",. (ATlT) 11.71 biIion WANE·TV CBS FOIl Wayne,IN Hid<, Muse Tale ard Furst LIN T_sioneo",. (AT&T) 11.71 biIlioo AugJsl B, 1997 WOOO-TV NBC Grand Rapids, MI Hiett, Muse Tate aoo Furst LIN Broadcasting CoIp. (ATlT) 1122.5_ Augusl B. 1997 KSNF·TV N~C JopIin.Mo Nexslar Broadcasting U.S. Broadcasl G""", $72nilion WMGC·TV ABC ~mplon,NY Nexstar Broadcasting U.S. Broadcasl G""", 172_ KJAC·TV NBC Port AlhJrl8eamlool, TX Nexslar Broadcasting U.S. Broadcasl G""", 172_ KFOX·TV NBC WlcNla Falls, TX Henlar Broadcasting U.S. Broadcasl G""", l72ni1ion August B, 1997 KOKH·TV Fo, OIdahoma Ci~, OK Mvan Broadcasting eo. Sildair Broadcast GtQl4) I6Onillon August B, 1997 WNEG·TV CBS Toccoa (GIllOIlYile-Sparlanburgl Spar181l Connutications Slep/lens Cotr1lyllroadcasting 12.Z1Ti1ion Augusl 1" 1997 WUPl-TV UPN Sidell(NewOrieansl Viacom Cox CormuJcations S32.5nifillfl WUPL·TV UPN Sidell (New On,ans) eo, COntr Augusill. 1997 WNAC·TV Fo, Providence,RI NA Hearsl·AIg)1eTeleYisioo S47.5ni1ion AugJsll'.1997 WFlI·TV INO Cleuelard (Chaltanooga) ~n Broadcasting WFU,lnc 17ni1ion AugJsl 4, 1997 KSGI·TV INO Cedar Ci~ (Sah Lake Cily), UT BonnevUIe Intemational SoagUt COIIIl1lI1cations 11 nillon AugJsl 4, 1997 KSWT·TV CBS & TeiOlTUldo Yuma, Kl Edipse Mecla . LLC KB Mecla 1325rrilion AugusI4,1997 KTNC·TV INO Concord (San Francisco) Pappas Telecasting Mills Telecasting $7B25ni1ion August 4. 1997 KPWB·TV WB Sacramento, CA Vwcom Pappas Telecasting S100+mllion BEAR STEARNS Page 44 T_T_-~ll17 DooIgMW -- Sol« (11_"Doll) -- "'-1Y - ...... - - - oUy29,ll117 I oUy29,ll117 KRllC-TV NBC _,TX Slnl.T_1ion Coop. -..RocIoIl1dT_eo. SIl.S_ KAal-TV NBC s.. Angelo, TX SonI.T_Coop. -.RocIoIl1dT_eo. SIl.S_ oUy29,lW1 WI oUy21,11117 MAB·TV -.TV __(0tIand0), FL Pmon Comnu1ICoIonI ~_Inc. $13.2_ oUy21.1W1 KUZZ-TV ~ _,CA ~T_llroI.I> 1luct<00000_eo. $14.0_ oUy21,11117 KCPM-TV NBC CIico-Rodding. CA GOCOM ~ Comnu1ICoIonI $3T.8_ KSPR-TV ABC SpringIioId,MO GOCOM e--odComnu1ICoIonI $3T.8_ KIlO-TV ABC 0d000I-_, TX GOCOM e--odComnuicaIonI $37.8_ oUy16,l!1ll7 KOI IgIooIaP_deIaV__lgIooIasdoFe oUy14,l!1ll7 WELU-TV IndopnlonI Aguoo:IIIr.P.R. -"~FIIliIy_ SO.S_ Page 45 BEAR S'TEARNS "'---, I T....IooT...... --_._'1997 ~TflftlKlon Doolg_ _or Announced "'-1Y A_. -oting- SoIor -(oI_oIllN1J _30,1997 WlNT·TV WB KnolMlIe, TN AaneTelevision, LLC Crossvile TVLP S13.2milion _23,1997 KSVI·TV AIlC BiIilg"MT Greal Trails Broadcasting IIlg Hom ConmJnicaIion. $17.37 nillon _23,1997 WKCF·TV Indeperdenl OI1ando,FA PleSS Cormuicalions LtC P.... Broadca.ting Co. Inc. $65ni111on Pkl. WBUB·AM and WKXW·FM in T"",,oo, NJ and WBSS·FM in IoIIvi11e (Allanlie City, NJ) _16,1997 KlDO-TV r...... ndo loledo, TX EnlraYiSlOO ConmJnicaIions POIlOIIIrO Broadcaslrlg $6.2_ _9,1997 WCPX·TV CBS O~ando, FA Post..Newsweek Stations Mel9llll1 Swap· $375 nill10n WFSB·TV CBS HarttoftilNew Haven, CT Mel9llll1 Po~-New_ Slalions Swap •$375 nib _9,1997 WEFC·TV REl (10 be InTV) Rollnoke (lynchbu"l, VA) Paxson ConvrUlications Vile &Branch Inc. $5.5_ _9,1997 KHAS·TV NBC Haslilgs(lir May 26, 1997 KlVC·TV Dalt< (10 be inTV) Cedar Rapld',IA Paxson Cornmooications Anlhooy J. Font $5_ WAOF-TV Dalt< (10 be inTV) Bala,;, IButlaIo, NY) $3nillon May 19, 1997 KENS-TV CBS San Antonio, TX Scrlpps·HowIlld Harte·Hanks Colmuicatlons sns rrAon tor all assels 6 daly newspa""", (includng Co!pus Chri.ti, Abilene, Plano) 25~new_ May 19, 1997 WBIS·TV Indeperdenl NewYoit< Paxson ComrTUlicalions In-Dow Jooes Television $257.50 May 19, 1997 WJAC·TV NBC JoM'_IAlloona, PAl Soorise Television COIp. Richanl Maya', JoMs_ $36_ May 19,1997 WlCl-TV Fox Bintj1amlon, NY _~ Broadca.ting inc Slairless BlOadcasting Co. $16.5nilioo KTVZ·TV NBC Bend, OR _.1 Broadcasting Inc. Stainless Broadcasting Co. $16.5nilloo May 19, 1997 WAWB·TV WB Ashland (Richmond, VAl James L. Lockwood Jr. Bell BooadcastingllC $10nillon May 19, 1997 WSCO·TV Indep. (10 be inTV) Sunng (Green Bay, WI) Paxson Cmm.r1icabons VCY/_lnc. $4_75 nilion BEAR STEARNS Page 46 T_T_-_l_ _T_ ~ "'-" AnllIIIon ..-.- Ilk -(lI_oID111) May-19, 1997 KBVU·TV FOJI EUI1lk.,CA SainlaP...... IILP Sharon D. S8p\1Yada, _to, CA (romalring -- $150,000 51") May 5, 1997 WPCB·TV Ret G-..b April 28, 1997 WPIIC·TV ~n"ty Jelico (Knoxvile, TN) Gbbal8roadcasting Systems Pine Mcurtain Christian Broadcasting 14.1mb ~128, 1997 KVYE·TV UIivision EI Cent"', CA (Y""', />lJ Entra\1sKwl CoomI.ricalions Lo paz Wlillie.. Corp. 10.2_ April 28, 1997 KHFT·TV Ind~ HobbsIAI>\qJe""" (Sanl. Fe, Nil) Ramar Cormuications BIOadcaSl Service. oIlhe SoulIlwosI 10.2_ ,\pril2l,l997 KTAB·TV CBS Abilene, TX All. ConmJrl ~121, 1997 KKAG·TV In TV PorIeMIe (F..sno) Paxson Cormu1cations Kratowec Children's Farrily 11US1 $7.96_ ,\priI14, 1997 WSBX·TV HSN (10 be ~TV) Anne """" (DeIIUiI) Palson CcmTulicaIions Btadu'.rLLC S3S.0milion ~114,l997 WMCF·TV Tri"ty Monlgome!y, AL All Arne_TV Sorl~1 BIOadca.1ing Sy5lem. 13O.0miJlOl1 WMPV·TV Tmty Mobie, AL (Pemaool., FA) All_TV ~IBlOadcaslilg Sy.tems 130.0_ WBUY·TV Tri"ty Holy Slings, liS (Meqlhi.) All Arne_TV Sorl~1 BI1lIdca.ting Sy._ 130.0_ WELF·TV Tmty Dallon, GA (CIlallanooga) All_TV ~IBI1lIdca.1ing Sy.tems 13O.0mlion WPGD·TV Trinity _ lie (Naslwile) All Arne_TV Sorl~1 BlllOdcaSlilg sy'_ 130.0_ April 14, 1997 WWAY·TV ABC 1WIlington, NC Kmso Inwsinerll Associates VlP Mario Baez., Englewood, NU $9.6_ _ Contrnrkalion. ApriI14,l997 WJXX·TV ABC 0_ P.I1l(Jac_, Fl) WPRLP $5.0_ Page 47 BEAR STEARNS - ~ ~:~.•.. ". T_T_-_llf7 DoItT_ Ooolgnolod ..... "-" .- ...... - \Il __olDooll 1olo""31.1897 K!VH·TV NBC - Big SI ~T__rs"ownI7'1f. 1olo""26.1897 KIlV·TV ABC MoIgingwilllHnI1lT_Gl 1olo""'24.1897 KRMT·TV IHO a.- CoImulilyT_e_ FIIlliyBiJloCl1lpol ".15_ 1olo""'24.1897 WDHS-TV INO rmn _ (1iInplnI. Mich) IIICllrc. W.RuoIll_ 12_ _24.161 PrimlCIIea B_ "7.5_ WXXY·TV Fox Gl.«pootl-l.....· - """-Ceq>. __.OR 1olo""'24,161 KWBP·TV WB _T_-, PeoogMa CormuitIIionI.lld. "7.6_ G__CorM1lIic:dor1c 1olo""24,1897 KMI.·TV ABC -,IIH eo->8loIcIwling Co. 140_ G__~ e_B..-.ngCo, 140_ KOOE·TV ABC JoPin.1IO G__CorM1lIic:dor1c 140_ KTWQ·TV NBC Catpor, WI G__CorM1lIic:dor1c eo->8loIcIwling Co KKTU·TV SAT ~.WI e_Btoodcuting Co. 140_ 1olo""'24.1897 KlSll-TV NBC BP... CclmuicalionI Ceq>. '" America GIln and KIlt WytItI S30.5_ KlSII-_ E1Paso S30.5_ c.nrrsa-.. Ceq>. "'_ GIln and KIlt Wytor B£AR STEARNS Page 48 1 T...... IooT...... -_III7 IlotoT_ DNlgIlllod Prtco (IסPIapoIty A_ IIIrkoIlngAroo (11_010o __If"<. Mold117,1117-- WUffi·TV ABC UIca, NY --Ulica T.....sian Pa_ (Acl Mold110, 1997 WRMY·TV INO AocI Fob!ullry24,1997 WlTN·TV NBC Washi1gb1lG_, NC Gray CornraIli:aIloos AajlXllll Med~ 139.4_ Fob!ullry 20, 1997 KSTW·TV CBS to UPN Sell... Ymoom Cox Comullcations Swap plJa 150 lrilion KJRO·TV UPIltoCBS Sea... Col Cormuic;alions A.H. BeIo Swap KMOV·TV CBS St louis A.H. BeIo Vilcom Swap Fob!ullry20,1997 WXTJ(·TV UPN Wesl PlIim Beach Viacom Miteh8ad Mediwftaxson Cormu1Ications 134.3mi1ion February 17, 1997 KINZ·TV IndependenI Al1ingmlFOII WlIIItl, TX Paxson Cormuications UriIed B...dclIst Group 12.5_lorromairoir4l51...l8ke Fob!ullry 10, 1997 KNAZ·TV NBC F1agstaM'hoenl, Gannett Grand Canyon T.....sian 16.25_ KMOH,TV we Ki1gmenIPhoorj, Gannett Grand Cenyon T_ Fob!ullry 10, 1997 WSWB·TV Utfuft Scranmwjke.-8a..., PA PilSOn Cornn'u1caIions Ted EhIt1aIdl, ClaI1 JonuIIry31,1997 KUPN-TV UPN Las Vego. Ss1cIoirBlOlldcll.,GIlll4' Las Vego. Chomel21 (Aictt CornraIli:alions) 167_ JonuIIry24,1997 WHNS·TV FoNUPN O_,SClSpo_'9'(AshIrile) Meledith CoIpotaion Fnl_ 1435mi1ion Fo, First_ 1435_ KPOX·TV PorIIond (Vencouver, WA) Meledith Corpcntion F... _ WCPX·TV CBS 0_ Meledith CoIpotaIion 1435_ JonuIIry 17. 1997 KSTW·TV CBS Sea'" Col Cormuic8Iions Go\iOldB...dcasling 11110_ JonJary 13. 1997 WTVA·TV CBS Aicttmond, VA AajlXllllMedia Value of SIlO nifion WSAV·TV NBC 5avemeh.GA AajlXllllMedia Value 01 SIIO_ WJrV·TV CBS _son,1I1 --AejlXllllMedia Value 01 SIIO_ WHLT·TV CBS HelIiesbUIg,MS -- AajlXllllMedie Value 01 SIlO nilion JonJary 6.1997 KYFC·TV Independent Kansas City, MO --Puson Comnullcations Kansa. City Youth lor Christ 116.4_ JonJary 6, 1997 KSHE,TV ~ Moltinsllulg, W. VNWasli'1"". D.C. OP Medielnc. (Devon Paxson) Pusan CormuicaDls 12.7_ Page 49 BfAR STEARNS T_T_-_l111 _T_ Iloolgnalod -... "'-" -.....- ..... """11I __",DooI\ ~16.1!l!16 WHKE·TV ~ .. P....., C ~2.1!l!16 WVV\·TV IndeperdenI _ .VIJN~ P....., C _20.1!l!16 lI'lWT·TV NBC Cilcmal AJgyIoT_1ion Swl91-_I2O_inpaoodol KOlXl-TV ABC OIdllI' __.1 Group _ •. 1996 WPGX·TV Fo, P...... Clty.FL AshIing_slGroup 16.75_ _ •• 1996 KJC8·TV IndeperdenI Norfolk. VA lodlwood BIIlIdCaIling r.....8loodcuting 16.75_ _ CoIrmJril;aIons _ •• 1196 KCSD-TV --'-•• CA 5aInIolld. ~- _ •• 1196 KfWU·TV -ABC Foolloagg P_T~ SainIolld. $1.75_ __I 92 _ 0<*>bI< 28. 1996 WlIB·TV _TV_ ~ Dr. DriId lIcCaJus octlber 28. l!l!16 WNOS-TV IndeperdenI Cony. NH.900kln. MA -Cofp. CTV'" Oenrlnc. $18.0mllion octlber '•• 1996 WTAB-TV CBS _.TX Sh>oIiIgSlor.Inc. ---. $8.0_ 0<*>bI< 7. 1996 WFllG-TV Fox Mgusla. GA IlaIorio_Group JomPozold $40.1_ WXTX·TV Fox CoUrilUI. GA IlaIorio_Group JomPozold ~.lm11ion BD\R STEJ\RNS Page 50 T_T_-ll*...-wl111 _T_ ~ "'-1Y A-. IIorUIIngArM (1I_a1Doo11 SIplonl>oI'30,1996- KTBY,TV F.. AncIlo!age -G~ Comnuicalionl -_BracIoy -IS.S_ SIplonl>oI'30,19lI6 KING·TV NBC A.H,8IIo P_- .1.5_ KGW·TV NBC P_.OR A.H.8IIo P_- ".5_ WCNC-TV NBC -QlodoIIe.NC A.H.8IIo .1.5_ V/HAS·TV Nl/; ....- A.H.8IIo .1.5_ KA5A-TV FOX ...... -.. A.H.8IIo --P_- .1.5_ ICHII.·TV NBC _,HI A.H.8IIo -- .1.5_ KHBC-TV SAT Hlo,HI A.H.8IIo P_- '1.5_ KOOG-TV SAT _.HI A.H. 8110 -- ",5_ KMSB-TV FOX T_ A.H.8IIo .1.5_ KREll-TV CBS SpoIcIl1I A.H.8IIo -- '1.5_ KTVS·TV NBC Baise A.H.8IIo -- '1.5_ PIls: T_Food-'_',__._OIl__.P-"'Joumol_, OO"ISede.Tuc:son, Baise,-l -- SIplonl>oI'26, 1996 WTSP·TV CBS T_ Swap "" K115-FM,KlIS·A11 (lA) KSOO-AII, KKlIIHIlIs.. llIegol - WUSA·F1hnd WIlAE·A11 IT_I SIplonl>oI'23,I996 KOOG-TV IndepondenI 0gdl0VSail Lako Cily PIWOl1 ComnuicaIionI ~ &0Ir0gI Comnuicalions 17.5_ ~23,I996 KCNS·TV IndepondenI s..Francisco Ram:aslColp. wesl Coast United Broodtaslng $30_ Sep\eri>e< 16, 1996 WOAII·TV NBC launlI'HatIesbulll. liS --lngGroup Rajt ~16.19lI6 KTVH·TV NBC _no,1IT G~Comnuica_ __IKSModia&5ky_q) $4.57_ Sep\eri>e< 16, 1996 WSEE·TV CBS Erie,PA WSEET_TrusI Not1hs1a'TelevtslcnG""4I "2_ ~16,1996 wrvtl·TV Nl/; NaPes, Fl _'Con1fnlricaIcn Rajt Page 51 BEAR STEARNS I T_T_.....-~lH1 DaloT_ Doligllllod _If Pnlpoo1y AtlllolIon IIorUllngArol (11_010oll) Al¥JoI26,I996-- WFCT·lV Indeflondenl B_~SI.P"'rsburg Christian_ -Pauoo Cormu1icabls -SU9_ Al¥JoI19, 1996 WTWS·lV • Indepondont New L_artlord, CT Robel1s Broadc:asling 01 Hartlord Pauon Coom>icalionll 13.05_ Aupt 19, 1996 VlRAY·lV Indepondont IWscn'RaleigMJulham Ramc:astCofp. Wilson TeMcaslers S5_ h9JSl19,1996 KMNZ·lV Dati< OIdahoma City Pa..... Corrwruicalkln& AlaceisOrtiz 16.395_ Al¥JoI19. 1996 KAJW·lV Dati< _x Paxson Cormuica8ons Hector Gaida satvatiena S5.4 miIIon 10<49% 01 c:onlllructlon ",mil will rilt"lobuy AIll1lIindor 10< 16.8'- I Ilation Is txiltll'd IIIVlilgIn 1year Al¥JoI14,1996 WTOG·lV UPN T.,.,a Voaoom(PallllllOlri) _rdBroadcaring SWap WNYT·lV NBC ~.NY H.mbard BroodcasIng Voaoom (Pal8lllOll1l) Swap WHEC·lV NBC _Ie<, NY H.mbard B,..ocadng VoaoomIP""""""ll) SWap h9JSl14, 1996 WAfF·lV NBC HlrlIs~".AL Raycom AfLAC $485'- WTOC·lV CBS savamah, GA Raycom AfLAC $485_ WAfB·lV CBS Balon Rouge, LA Raycom AfLAC $485_ WlVM·lV ABC CoklnDJs, GA Raycom AflAC $485_ KFVS·lV CBS Paducah-eape Girardeau-Harrisburg Raycom AfLAC $485 mIion KWWL·lV NBC Cedar Rapids·WaIOl1oo·DtJluque,IA Raycom AfLAC $485_ I'<1TN·lV NBC Greenvi\e.New Bem·Washington, Ne Raycom AflAC $485m1ion Al¥JoI12, 1996 KETK·lV NBC TyierlLongview, TX Max Media Pq>erlies Lone SOItBroadcasIIng S17.1_ KLSB·lV SAT T~erILongview, TX Max Media Properties Lone Star Bmadcasling SI7.1'- August , 2, 1996 KNVQ-lV UlWision Ha~ingelVMcAlen'B_e. TX Enlra~sion Margot Co BEAR STEARNS Page 52 1 T_T_-__'. _T_ ~ -...... " A_ ...... Now __ (1I_1I1lo11l ~22,1996 WJ8K-TV fOX DRIll! - Foxllloodcalli1g C ~1S,1996 KXU·TV INO Sl CIoucI'IIiI1eIpt. Pod Pwon KX kqIisIion $12_ ~lS,I996 KHGI·TV oI8C Kamoy,NE ,,-T.-..mg F"'~ $IUSIliIon KSNB-TV ~,W1 "-ToIIcuIng F'" 8nJodcIIlng $12.7S_ KWNB-TV HI)os CenIof P_T.-..mg F"'~ $12.7SIliIon ~1,1996 KART·TV UPN _"'IOnio,1X KART,Inc. 12_pklx...... _ DIWI__ ~1,'996 WVDU-TV CBS _.PA -Ne_~Groc.l> $213_ _ ConmricaIiono $1.13 _ ~1,1996 KlXL·TV Fox T_~ WOzt·TV we r.tImi T_ C Page 53 BI1\R~RNS i T...... 1oo T.....cd... - _IlorI. DoIIT.._ Du/gnoIod ... ~ A_ IIIr1loting_ _ Sol.. (.t_oIDoo1) ..I.rlI24,1996- WYOO·TV Fox GIOOI1YiIe,NC GCCOM Broadcaslil1g KS FamiyT_, Inc. -$1.5 niIion _3,1996 KYlE·TV WB Bryarfflaco, TX C«mui .Ilroe3,1996 WJAl·TV WB Hagers_,MO AlQ HoIding$,lld. Good ~nioo Broadcasting $7.5_ May 27, 1996 KNSD-TV NBC San~,CA NBC (General Eleclric) New WOlid Colmuicalions $425_ WVTM·TV NBC BiIlroirq,am~ NBC (Geflerol Eleclric) New WOlid C«mui May 27, 1996 WfVT·TV WB Rock HiVChal1otte, SC TV 55llC Family fll1y-FMl Inc $4_ May 20, 1996 KCAl-TV INO los Angeles, CA Yooog BlOIdca~ing Wal,D4.....yCO. $:l6Bnjlion May 20, 1996 KFOR·TV NBC OkiahomaCily New Yorlc. Times Palmer Con'rntrations $226_ WHO-TV NBC Des Moines New YOlk TIIIlOS p-.CommlrICIlions $226_ BEAR STfARNS Page 54 BEAR STEARNS Page 54 T_IooT....I<....-_,." .. _T__od IluIgnilod PIIco "'-1Y A_n IIarUtlngAroo Pu!dlIMr SoIor (II A_oIDooI) MoylO,1996 WMC·lV NBC MeIrjlhis, TN Eis Acqlisliolls In<. (now Raycom) Els Comnmcalions $732 milion WUPW·lV FOX T_,OH Eis Acql.isitions 1n<.lnow Raycom} as Comnmca1ions $132 mi1ion WTNZ·lV FOX Kno_,TN Eis Acqlisilions In<. (now Raycom) Ela Comnmcalions $132 miIion WACH·lV FOX CokJ_,SC Elis Acql.isilions 1"'.lnow Raycom) Elis Comnmca1ions $732 milion WEVU·lV ABC Fl.IAeyet>, FL Elis Acqlisilions"'. (now Raycom) Elis Conmricalions $132 mllion KAME·lV FOX Aeno, NY Eli. Acqlisitions 1n<.lnow Raycom) EisComnmcatiooa $132mi1ion KOlll-lV CBS T"""" EI. Acql.isilions "'.Inow Raycom) ElsComnmcalions $732 mllion WSAV·lV NBC Savamah Eli. Acql.isitiooslnc. (now Aaycom) Elis Cormulications $132 miIion W.rrv·lV NBC _SOIl, MS Eis Acql.isiliolls In<. lnow Raycom) Eis Comnmcatiooa $732mi1ion WECT·lV NBC Wllninglon, NC Eli.Acql.isitioosln<.lnow Raycom} Eli, Cornnuications $132mi1ion WHLT·lV CBS IHal'iesllu'l)ll.aure! as AcqlisitioosInc. lnow Raycom) Elis Comnuications $132_ KSFY·lV ABC Sioux Fals, SO Eli. Acql.isilions In<. (now Raycom) Elis Comnmca1ions $132 miIion KPAY·lV SAT Piene,SO Eis Acqlisilions Inc. (now Raycom) EIisComnmcalions $732_ KABY·lV SAT Abenleen, SO Elis Acq.iMions Inc, (now Aaycom) Elis Comnuicatlons $132mi1ion KSLA·lV CBS Sh"""",",LA Elis Acquisitions Inc. (now Raycom) Els Comnmca1ions $132 miIion WWAY·lV ABC WIlninglon, NC Ells Acquisitions Inc. (now Raycom) Elis Conmricalions $732_ AIHMStationsin~s Raycom iXllnc. Moy13,19!l6 KFOX·lV FOX E1Paso, TX Cox Entefprises -Muldenig $lO.9ni1lOO May 6, 1996 WPRI·lV CBS PlllVidance, AI CloarChamel CBS $66_ May 6, 1996 WOKY·lV FoslUPN lexington, KY 5r1cIair Broadcasl ~ Comnmca1ions $63ni1ioninotodl KOCB·lV UPN Oldahoma Cily Sinda,ir BrOIdcasl ~Comnmcations $63ni1ionlnotodl Page 55 BEAR STEARNS T_T_-_I_ DoltT_ ~ PnIportr .- ..... (lI_oIDoII) ...... WNWO __oIToIedo April 21. 11198 WNWO-TV NBC Toledo - MoHo ConnuicIlionI -$3II.S_ -- --__I __lncuhplulU_..... April 1S. 11198 KOVR·TV CBS RIiorCllyllloodtaoling __lncuhplul4.2_...... WTTV·TV Ul'N indlInIpcliIl~) RNI,ClIyllloodtaoling __lncuhplul42_...... WTTK·TV SAT --indlInIpcliIl-1 _B_at RNI,ClIy_1lIng __I __lncuhplul42 ...... KDSII-TV FoJIUPN 000_ --__I -ClIys...:tcalllng __lncuhplul42.-..... KlJN.·TV ABC Sllew,MO _ClIyBIllIClcIsIIrll WLOS·TV ABC _Sj>IrtInburgI_.NCI RNlrCllys...:tcalllng _.-lncuhplulU.-...... __lncuhplul42.-..... WFBC-TV IND G_SpIr1M11>Lwg(Andorsoo.NCj SIndo.B_1 -ClIys...:tcalllng __InCllhplul42 ...... KAIIB-TV Fox san_.TX --SIndo._1 -ClIys...:tcalllng KRRT·TV LIlA SIndo._' RNlrCllyBIllIClcIsIIrll _.-InCllhplul42.-..... __InCllhplul42 ....._ KIIlA-AIl losAngoln _B_1__I RIvorCllys...:tcalllng __InCllhplulU ...... ,,11I - __at RIvorCllyBIllIClcIsIIrll _ ClIy BIOIdcaling __lncuhplulU.-Iho... lA11.2FM __lncuhplulU...... 3AII.2F11 -G_.SC""""""' SR:IIirBl'OIdcast RlYerCllys...:tcalllng __I _.-InCllhplul42...... 2FM Sl Lillis RIiorCllys...:tcalllng __InCllhplulU...... 2F11.2AII NewOrioan. SIndo.B_1 RNlrCllyllloodtaoling 2FM.1A11 ~ SInda.B_I RNlrCllys...:tcalllng I84B_InCllhplulU...... 4A11.2FM Bull... SInda.B_I RNlrCllyBIllIClcIsIIrll _.-lncoshplulU...... __InCllhplulU...... 4 FIot, 3AII _B_ RIiorCllyBIllIClcIsIIrll WSYX·TV A8C CollnPJ'. OH SIndo.B_ -ClIyIlloodClslinil q>lIDnloqilolof$235_ --- (incIIslP.j-dobIl ApriI1S.1l1116 WTGB-TV FOI ~.SC LP_.Inc. HiIon Hood T_ 17_ April IS. Il1116 WHOA-TV ABC 1IooIgomory. AI. P.... ConnuicIlionI WHOA·TV.1nc. 16_ ApriI1S.1l1116 WIIOO-TV UrMslon WIsI*IgIon laIi1 CormsnCIions Group los C4t0tzos -.gCap. 14.7_ WIIOO-A11 \\l1011on.lDWasl*lglon ApriIB.ll1116 KTVE·TV NBC EJ Docodo. AKIMon.... LA GOCOM (Ricll GormIn) G..., ConnuicIlionI 111.5.- _ BIOIdcaIlIng Inc. April '. 111116 WlISH·TV FOI _.WI ChsmoI47LP $26.S.- BEAR STEARNS Page 56 Teltwl.1on Tranliac:tiOftli - F1r.t-Gulrt... lt96 D.IoTronuclion DlIigl1l1od Pri Marth lB, 1996 WXMT·JV UPN Nashville Sul~van Broadcasting Co Cenlral Tennessee Broadcasting Co!p $28.9 milion Marth lB, 1996 WYll·JV Fo, BloooingtoniPeoria,ll Sinclair Broadcast Grol4l B5oooinglon Corneo $23 nillon Marth lB, 1996 WPXT·JV Fo, AlbJnv1'orI1and, ME Pegasus Conm.Xlicalions Bride CormlulIcaIloos $17.25 nilloo Marth lB, 1996 WSF)(.JV Fo, Wilnington, NC Twin Towers Cormu'licalions WillTington Telecasters $10 nilion Marth lB, 1996 WSJN·JV 100 SanJuan, PR Paxson Comrnt.nications Housing Development Associales 14_1or5O% WKPV·JV Sal Ponce, PR Paxson Cormulicalions Hoosing Development Associa... I4nilionlor5O% WJWN·JV 5.1 San Sebastian, PR Paxson Conm.ricalions Housing Development Associates I4ni11onlor5O% Marth 11, 1996 WLYA·JV NBC Balon Rouge, LA White Knight Broadcasmg Vetter CamltrkaUons $23.911 niIIon Feb...ry 26, 1996 WSTR·JV UPN Cncinnati Sinclair Broadcasl ABRY Hokings $11 nilion KMSO·JV UPN Kansas City SilcIalr Broadcasl ABRY Holdings $9nillon _ CormlulIcalions FebNOry 26,1996 WBSG·JV WBIoABC B...... , GAiJackSOllVilIo, Fl Col..., Corrrn. 110.6 miIion FebNOry 12, 1996 WlCU·JV NBC Erie, PA SJl CormlulIcaIions G",'l_ Comnu1<:aIions l11ni11on FebNOry 12, 1996 'NFXy.JV Fo, Utica, NY SUIiYan Broadca.ting Mohawk Yaley Broadcasting $3.2_ WUPN·JV Fo, Ulca, NY SUlivan Broadcasting foDrreJVCo!p. $3.2 nilion FebNOry 5, 1996 KHBS·JV ABC Fori Snill, AR kgyle TeleYision SigmoBn>adcIsting $32 niIIon KHOG·JV ABC F.yot1e'Iile,AR AtgyIeTelevision Sigmo Broadcasting $32 niIIon FebNOry 5, 1996 WCJV·JV CBS 'Thoma";IIo, GA (T.Ia""...., Fl) Gray Comrrulicalions JomPhpps $165_ WKXT·JV CBS Kno....,TN Gray ConYrmicallons JomPhPPS 1165_ P""'Phone Salelilolpro FebNOry 5. 1996 KIEM·JV NBC Eurel Page 57 BEAR STEJ\RNS T_T_-_'''' _T_ ~ ...... C.._alDIII) JIlury--29,1896 "'""""KAYlJ.lV -foI SpcU1o, WA -AlIa~IodDoblP._ 1Ilian8lady ..44_ ....'Y29,1896 WFJlP·lV Fox Erlt,PA JuonEl ....'Y22,1896 KEL().lV CBS SioulF_SO Young Ilooodculing $SO_ __F_ KDl.()'lV Sal Young Ilooodculing $SO_ KCL().lV Sal RapldCily Young Ilooodculing -- $SO_ KPL().lV Sal -...siouxF_ Young Ilooodculing -- $SO_ .....'Y22,1896 WNYB·lV Tririty BUlIIo, NY GranlT_ --Tri-SlaltanulV 112_ .....'Y22,I896 WHYS·lV UPN S_,NY RKII Modio, In:. "'bolV,ln:. 14.25_ ",lorLow_lV ...... ,NY RKII Modio,In:. "'bolV,ln:. 14.25_ _ ComnuicaIionI ....'Y 8,1896 WJSU·lV CBS _,AL Otbom CClImuic:aIionI 119_ .....'Y 1,1896 WHOI·lV ABC PooriaIIlIooning, lIN --..q S270_, Spo.IgfioIltIIuI"*,,,MA --SlIng WWLP·lV NBC --SlIng --SlIng 1225_ WlLX·lV NBC 0n0nd0ga/lMlsin, Mt c:aoh ... --SlIng 1Ilt_~ KOSA·lV CBS 0d0sIaIMicIand, TX --ling $15_ _ FIIiIrIlawm, TX KAUZ·lV CBS --sling_BroodcaSling --..q *"* WTRF·lV CBS/ABC Wl-.gWV_,OH MaMoo, --SlIng MllV·lV NBC WI --sling CBS W_,WI --SlIng_Broodcasllng --SlIng WSAW·lV _BroodcaSling BfAR STEARNS Page 58 1 BEAR STEARNS ------. , T_T_-_l. -,...... IloolgnIlod (IסI'urdlu« _ Cormu1icdonI 111-010o "'-" S60.1 _ _11,1D95 WCOY-lV ...... SInlaMaria,CA CBS - -Il Clorion Coop. _11,1995 WFlll·TV FoI -.y.GA _.-.g SGA_ $3.'_ _20.1995 WCFT·TV ABC T_ _Coonnu-. --IngCoop. 120_ NIIic _ Coop. _.,1995 _·TV ws_ T_-5I.-...g -Coop. 125_ _ •. 1995 KFTY·TV RIopondenI SIn FIIIlCioco-OIIlI AdoIttoy Cormu1icItIans Inc. KFTY~Inc. $7.'_ _ •• 1995 KlDT·TV RIopondenI 1lo8I>-Fort_ Shop IIHooM~COlp. KLDHV55Inc. $4.75_ 1-~la.tIIIn_1 _T_ $51.5 _ 0d0b0r30.1ll95 KVAI.·TV CBS E_.OR -e-.-. _ T_ I(P1C-TV CBS -.v,OR $51.5_ -e-.-. _ T_ $51.5 _ KCBY-TV CBS e-Boy.ID -e-.-. _ T_ $51.5 _ KBC!·TV CBS _.10 - EnIoIpiIo. Odobor 30. 11195 WlAJ(·TV FDI ~ClaiI,W1 GIIl1I_Inc.__Inc. MolT_Coop. 16.25_ WEUX-TV DalI< I.ocRJoIaIEauClail. WI MolT_Coop. __.GA __IInc. Odobor 30, 11195 _-TV PBS NGII '_PImerI LTD $10_ Odobor lB. 11195 WHTM·TV ABC HaniIbuIg. PA AIbritIon CormuicIIions Prlco CoImuic:aIiona $113_ Odobor 16. 11195 WSWS-TV Indepandanl COUnlllK. GA P_.T....,..1ng Genasi.IIlIlodcaIIi1gCoop. $1.6_ Odobor 16, 11195 KBGE-TV RIopondenI -..solllle VatueVlSion Inlemallonal Inc. NWTVInc. $3.'_ Odobor g, lIDS WWTI·TV ABC Wa_, NY Snilh Broadcasting G~ FIIOVI Gnx4llnc., Phoenix $2."_ 0d0b0r2,1119S KNIlO-TV NBC Yakima, WA F_Broadculing Co. FI"CoImuic:aIiona Inc. 113_ KHDU-TV NBC _1I Page 59 BfAR STEJ\RNS ., ------T...... 100 T...... tion. - ThIrd-Quorlw 1915 Dill TI'MUCIon DotlgIlIIod PItco ~ A_lion IIlIrtlollngArN Sol« IIl_olllNll 5epIentler- 25. 1995 KSBW·lV NBC Monlerey. CA --Snilh Broadcasting GIOOp Inc. EP Comr!u'jcalions Inc. $30.3 million 5epIentler 25. 1995 KSBY·lV NBC Santa Barbara s..tCormuicaIions EP Conmntations Inc. $17_ Se!>tenl>ef2S.1995 WDHS·lV Triri~ Marquelte,MI Fan! BroadcaJting Co Dlmy L Hood Evongeilllic Associelon '1.3mi1ion Sep!ent>er25,1995 KWBF·lV WB_ F'hoerO' Christian Networt lne. Or. Michael C. GeI1and $1.4rri1ion V__Inc. Sep!ent>er 25,1995 KSMS·lV UrWision ~.CA KSMS·lV $5.3_ Se!>tenl>ef25.1995 KEVN·lV NBC Rapid Ci~. SO B1acklitarLlC Heti1age Mecla Coop. $13.95ni1ion KIVV·lV NBC Rapid~.SD _"LLC Herllage Mecla Coop. Se!>t1lT'ller19.1995 KHlV·lV WB Houston. TX TribLneCo. GeylOld Entel1aimlen1 195mi11on 5epIentler 18. '995 WCEE·lV Ifld St.louis Christian Network Inc. McEnlee Broadcaslng Inc. $3.2_ Sep!ent>er 18. 1995 W5MH·lV Fo. Finl.MI 5_.Broadcast Finl lV Inc. 133mi11on 5epIentler'. 1995 KCPM·lV NBC Clico. CA Bachow I,westmenl Partners AI>il J. See_ $10.7 million KMID·lV ABC Wand. TX 8achow Jnvestment Partners AI>ilJ.Seel1aler $10.7_ KSPR·lV ABC Springfieij.MO Ilachow lnYesm..t Par1nefs AI>ilJ.See_ "0.7mlioo Sept_r'. 1995 KTTY·lV UHF Sanlliego Trilu1e Broadcasting Co. SanlliegoT_sionlnc. $70.5_ August 28. 1995 WMGC·lV ABC Binghamton, NY USA Broadcast G..." CiIadeI ConYIaDcations 198ni1ion WVNY·lV ABC Bullington. VT USA Broadca.1 GIOOp Cladel Conmlnicolions 198ni1ion WWCP·lV Fo, Joms_.PA USA Broadcast G..." Snilh Broadca'lng GIOOp 198 million WATM·1V ABC All00na. PA USA BroadcaSl GIOOp Snilh BroadcaSling G""4l 198_ KJAC·1V NBC Boa...... t. TX USA Broadcast G..." P1ice CoImu'lcaIions Coop 198rrit1on KFDX·1V NBC WiclilaFa"s, TX USA Broadcast GIOOp Price Cormuica_ Coop. 198mil1on KSNF·lV NBC JopIiI1.MO USA Broadcast G""4l Price ConnuicationI Coop. 198_ BfAR STEARNS Page 60 ...__ ._--~--_._-----'"_ .. _.- T_T_-~I ... _T_ .....- -,. (ll_llIDoIl) "'-" .... V...._ AugI.t 25, II11l5 WNlC oIIlC CIMIonI-AIuon 140_ p_~-~ - - WHAI -Ind. NowYIllt,NY -- -v_ l4O_ __*'!line. AugI.t 21, II11l5 KlMJ.TV Fox -'OR '14~Co. $1_ _ TV $1.5 _ AugI.t 21, 111115 Ind RcdlyIolcJllt. He _8oJod AugI.t 14, 111115 W1UI·TV Fox T_ ,,-_IIT_ _ .--...ContllIInl. $5.8_ __*'!line. _ J. _ AugI.t 14, 111115 KAYlJ.TV Fox Spakono. WA 118.88 _ 11404 _ Augl.t7.1t115 WOOl·TV Fox _,Ft -Colp. _ V.,a-.gColp. __T_ 155 _ AugI.t 7, lt115 KWDC-TV NBC -.....IA VlUlIIlkoo-.glne. Augl.t7,1t115 WNYl:-TV M NowYIllt,NY mCoIp.1l1lI Dow _ &Co. CIy" Now V"" S207_ Augl.t4.1t115 WCIlll-TV NBC CokrltuI, OH NBC Ol*'~ S3II8_ WJAR·TV NBC P_,R1 NBC Ol*'~ S3II8_ WNCN-TV NBC RIlo9HJuohIm NBC Ol*'~ S3II8_ AugI.t 7, II11l5 WCIlS-TV cas NowY.... -V- C8S $5.4_ KC8S-TV cas 1.01 ArgoIoI -V- C8S $5.4_ _TV CBS aicIgo ~. cas $5.4_ WWJ.TV cas DoIIIlII -V- CBS $5.4_ WCCO-TV CBS ...... SLPIIl -V- C8S $5.4_ WCCO-TV SAT ...... SLPIIl -~ C8S IU_ WCCW·TV SAT ...... SLPIIl -V- CBS $5A_ WFRV·TV CBS -Boy -V- C8S IU_ $5.4_ PMTVW.Mf.TV__lojolnl_ue.CBS __ondC8S-,E_lllaJquollo),MN•. ~ CBS »,31,lt115 KFSN·TV oIIlC F_ WIIllliny Co. ClpillllCIIloIIoIIlC $18.5_ KABC·TV oIIlC 1.01 ArgoIoI _llinyCo. ClpillllCIIloIIoIIlC 118.5_ KGO-TV oIIlC SanF_ WIll DiInIY Co. ClpillllCiIoIIoIIlC $18.5_ WL5-TV oIIlC aicIgo _llinyCo. ClpillllCilieIIoIIlC 118.5_ W,IlT·TV oIIlC FInI,1II WaIIllinyCo. CoPlIII C*lloIIlC 118.5_ W'!VG·TV oIIlC T_ _llinyCo. ClpillllCilieIIoIIlC 111.5_ WoIIlC·TV oIIlC Now YIlIt, NY WaIIlliny Co ClpillllC*IIoIIlC $18.5_ WTVIl-TV oIIlC ~F.yoIt8 _llinyCo. CopIlIIICilieaIoIIlC 118.5_ WPV1·TV oIIlC ~ WIIllliny Co. ClpillllCilieaIoIIlC 118.5_ _ llinyCo. KTRI(·TV oIIlC .- CIpiIIII CiIoIIoIIlC 118.5 _ PMAalIo, oIIlC _1l1lINl!ohitp, •. Page 61 BfAR S'ltARNS T_T_IIonI-~lH5 OaIoTIIMKhn... llMignIlod P!tco _ "'-" AftlloUon IIal1leting_ PurdlI", (al_'ollloll) ~31,1995 KSDK·TV NBC SI. LOlis G.....,. MuItimecia,lnc $1.7_ WlWT·TV NBC Cincmati Gamelt -tAJltimedia, Inc. Include$, Cable. Newspapell WKYC·TV NBC Cleveland Ga""." Mu_,lnc. Enlertaillnenl and 5ecurity WBIR·TV NBC KnOlMI~ GanneII tAlllirnedia, Inc. 1Iutinoue. WIlAZ·TV CBS Macon, GA Gamen ~1IIneda.lnc. Includes cable. newspaper, entertainment and securily businesses Jl.jy31,1995 KMTR·TV NBC Eugene, OR Wicks Broadtasl G~ KMTR Inc. $9 nillon Jl.jy24,1995 WTJA-TV Daile Jamestown, NY Grant TeleYision Inc. Jamestown TV Associates 1O_5ni1ion Jl.jy 17, 1995 KHGI-TV ABC, FOll K..mey,NE Blackslar Comnmications Fan! Broadcasting Co. $1275nilloo KSNB·TV ABC, Fox ~rior,NE Blackslar Comnu1icalioos Fanl Broadcaslng Co. $12,75rrs1ion KWNB·TV ABC Hayes Cenler, NE B1ackstar Convru'lications FInI Broadca.ting Co, $12.75_ July 17,1995 KSLA·TV CBS Shll!Vepotl,LA Elcom of LA Inc.J~Jis ConJrulicalioos Inc Viacom Inlemational Ulnilion Jl.jy3,1995 WRBl·TV CBS CokJntlus, GA Spartln Rdocasbng Co. TeS Television Partners $23ni11on Jl.jy3,1995 WHp·TV CBS Harrisburg, PA Clear Chamef CoImulicalions WHPT_sionlid Ulrrslion BEAR STEARNS Page 62 T...... IoIIT_-_l. _T....- DNignIlod "'-" A_ IIIrb11ng_ (1l_1II11011) _26,1995- KATC·lV ABC LafajOllo, LA """""""KATC Conmrlicalals, Inc. -lI._aPartnets -$24.5_ _26,1995 WOAC·lV nd C'-,OIi W1ilahoad Madia, Inc. MorklnJ. Kanl 16.6m111on _26,1995 WTJC.lV nd Springfield,OH ChtistianNalwoltl,lr<. Vidao lIaJI ConmJr*:alion& $3.5_ _26,1995 WUlV·lV FOX &UPN Bullalo SUivan Broadcasting AdtnCClnYrlJ1tcations $500"- WUHF·lV FOXlUPN SUivon Broadcasling /dill Camuic:aIilIIS $500_ WNRW·lV ABC&UPN Greensboro, Nt SUlvanB_ting Ad IU CormuicaIionI $500"- WRGT·lV FOXlUPN -Oaylon SUIvan Broadcasting /dill CormuicaIion. $500_ WTAT·lV FOXlUPN CIlarlaston,SC SUIvan_sIing /dill CormuicaIion. $500..- WZTV·lV FOX SUIvan Broadcasling /dIll CormuicaIion. $500"- WRLH·lV FOX &UPN Richmood, VA 5lAVIIl Broadcasting /dill CormuicaIion. $500_ WVAH·lV FOX&UPN -Cha_,WV SUIvan Broadca.ting /dIU Com1UicalIon8 $500"- _19,1995 WEJC·lV nd LeJinglon,NC P_Telecaslng K_B_sllnglnc. $4ni11on .kaleS, 1995 KCIT·lV Fox Am,,;" _ Broadta.l G""4' Ep;eB_sting $14 niIIon KJTL·lV plus live LPlV Fox v&n1aFalI.,TX _ Broadta.l G""4' Ep;eBroadtasling $14_ _5,1995 KFCB·lV Ind Concord,CA P_.Tele'lision FiBl C8nlIJry CormuicaIion. Inc. I6ni11on _5,1995 WNPL·lV UPN Naples, FL Seoond Generation 01 Florida lid. Soo-"-Iom F10IidlI ToIocamxJnicalion& $4ni11on _5,1995 KATC·lV ABC LalajOllo, LA Evenng Poxl PlhIsIing MLMeclaPartnets 125_ _5,1995 WREX·lV ABC to NBC on 8/14/95 RoalOld,ll Ot*1cy New>popeB II.MeclaPartnets $16-$19_ Page 63 BEAR STEARNS • T_T_-_'. _T_ IloolgMW Pltco "'-" -....- -.. '''_alDoII) lIoy26.1995- W1Vll-lV CBS llUIaIo.NY L1NT_ KilgWOI1d 595_ - 1«20% - May 22. 1995 KAAl).lV Fox _.LA _ (Fox Is iIYtsIiJg,1S-. slake) IlanIm _sing $77.2_1or4_ KDEB-lV Fox Springliell,MO PetracomIFo.isilYtsliJg,15-.1or2O'llslake) 1lanIm-.slng $77.2_1or4_ WNW·lV Fa. e_.IN PelracOm(Fo.is-.g,1SmiIionIor2O'll.1ake) 1lanIm-.slng $77.2_1or4_s KlBK·lV CBS l_,TJl _IFoxl.irIesIng ,'5_1or2O'll .lake) IlanIm BIllIdcadng $77.2_1or4 sIollan. __lngCo. May15,l995 KI'V1·lV ABC Pocalelo.1O '40$404_ KKVI·lV NBClFoll TwinFsI,IO _B_lngCo. --eo.p. __lngCo. '40$404_ KJVl-TV ABC Jadl:IOfl,W'f --eo.p. '40$404_ lIoy9.1995 WVEU·lV UPN lJarlJsly 16) AIanIa. GA Viaccm CBS $27.0_ lIoyS, 1995 WKAHV Ind i lIoyS.1995 KOCA·lV Fo. Cedar flaPds. 10 Second _oI_lld. KOCA lVlne. '1.25_ Apd 17, 1995 KBSI·1V Fox CapoGi_u.MO IIo.T_IClle....IlcF_1 erVos CoImuicetions $9.0_ Apd14,1995 WKBW·lV ABC llUIaIo,NY ~Cllyilloodcatting Gtril8roldclslng "5.3_"".'51.0 _01_deblfo< 55% $3.S _ Apd 10, 1985 KWlB-lV Ind 5IveYeporI.LA -Krif11IiIIoodcatting _ oIUls_lris. Apd 10, 1985 WABM-lV Ind ~A1. GIIncaim lid. ~ Speciolisb Inc. (Krypml $4.5_ BEAR STEARNS Page 64 T_T_-_l. _T_ ~ "'-" A_ ...... IIl_alQooll 11I""'20, 1995 WDAU·lV Fo, Ozootl,Al - _T_Co. -Judoh B_1ngSyslomS, Inc. -$2.5_ -- lJaylon,OH --Maxt_ Wl 11I""'1,1995 KSNW·lV NBC _,KS Leo EnltrpriHI SJlIllnlgomonl "IU5_pIuI-.geaplol($2.7_1 KSHT·lV NBC TopoklI,KS Leo EnItrpriHI SJlIllnlgomonl _1,1995 KRal·lV ABC ~CA 1Mnoo CcxmuicaIIons, III:. CaiIomII Oregon Ilroodcoslinol, Inc $11.1125_ III""'~ 1995 KPRI-lV ABC P_,RI cas NInagonMII $63.0_ __ VA 11I""'3,1995 WOOI·lV cas NowyootcT.... NInagonMII $78.0_ T___ FtbIuoIy 2T. 1995 WROC·lV cas _,NY SniIh IlIoodculIrQ Teie'liIionS__ $63_ WEY!·lV cas FInI-sogtw-Boy tty SniIh IlIoodculIrQ T___.. MOY·lV NBC _,OIl SniIh_1Ing FtbIuoIy 20,1995 WOOT·lV Ind Ma-.NH P.-CorIIluicaIons CoIp. P_T_ $3.05_ FtIIIuorf20,l995 KTfH.lV Ind CONoo, TX (_) P.-Cc>mnu-.. CoIp. SonJocinloT_CoIp.__CmlrJuD_ $1.9_ FoIlnlIJy20,I995 WGXA-lV ABC _,GA GOCOIl (Ridlllomwl) $11.15_ FoIlnlIJy 13.1995 KlfN.lV ABCMBC F._',AK lloIoIt CormuicIIione Coc*ot1y CormuicIIione $1.05_ FtbIuoIy 13,1995 KIIIO-lV ABC Ardxngt, AK lloIoIt CormuicIIione Coc*ot1y Cc>mnu-.. $2.1_ FoIlnlIJy13.1l1!l5 KJUD.lV NBC _.AK lloIoIt ClmluicdonI Coc*ot1y Cc>mnu-.. $5.2_ FoIlnlIJyD,ll1!l5 KOlV·lV ABC SlJoolllh, IlO SpIrIIn RaiIocaIting TCSTeie'liolon_ $23_ T___ FoIlnlIJyD,ll1!l5 W!IOW·TV cas ~GA Gray COfnn'I.oicdlln $34_ FoIlnlIJyl,ll1!l5 KCPll-lV NBC ~,CA ~ ComnxlnicIIOnI CoIp. Davi_Co. $32.5_..... KMlD-lV ABC ~,TX ~ Comr!UIi:aIIonI CoIp. o.,;,-GoIdIIltlCo. $32.5_..... KSPR·lV ABC SpringIiotI.1lO ~ ComnxlnicIIOnI CoIp. DaviI-GoIdIIltlCo. $32.5_..... FoIlnlIJyl,ll1!l5 WKOW·TV ABC MacIson, WI Tony ShocIdey (opIIonIlo """"..) Tok CcxmuicaIIons $50_ WAOW·lV ABC Lo Qoooe, WI Tony ShocIdey (opiono 101"'...... 1 Toll Colmu1icIIiono $50_ WDOW·lV ABC Eau tlai19, WI . Sal8llle Terry ShocIdey (opiono 101"'''''''') Tall ComnxlnicIIOnI $50_ _ HoIfngo. Co. $162.5 _ FtIIIuorf6.1l1!l5 K!RCl-lV cas _.Wl A.H.1leIo ...... "30.1l1!l5 KLXY·lV Ind SalIJooe, Cl Plum CorMu1icdc:N F-, BIlle CIud1.Irx:. $5_ _ CoImuicotionI (OoIhan HoIfngo III ...... "23.1l1!l5 WfYY·lV CBS DoIlan.Al $28.5_ - 8IOIli:aIIng ...... "16.1l1!l5 WlYZ·lV fo' _,VA Sildair_'G~ MalTUMIion S48_ID ...... "16, Il1!l5 WGRZ·lV NBC _,NY AJgyteTeie'lioion Tok Conmricationl $&1_ KllV·lV ABC _.HI AJgyteT_sion Toll Colmu1icIIiono $55_ KIlAU·lV SAT W_.Hl AJgyteT_oIon Toll Conmricationl $55_ KHYCl-lV SAT Hlo. HI AJgyteT_1ion Tall CmlrJuDtionI $55_1101II$148_1 ...... "D,11195 WWIlT·lV CBS Kalamazoo. MI G"';le Broadcallng IIlIIoeB_1ng $115_ ...... '12, 11195 WSBK·TV UPN _,MA YIOCOllI Now Wootd CmlrJuDtionI $UllI""" Page 65 B£I\R STTItRNS I•• T_1on T...... - FourtI>OIwIor 11M D...T...... DosIgnaIId Prlco Announood ~ A_n IIIrtloUngANo Sol.. (ll_oIDoo1) ~19,199C WTWS,TV Ind _Londan,CT --Paxson Conm.ncations AlA Media Colp. $2.7 miIion OecentJer 19,1994 WEAU·TV NBC Eau Caire. 'M _ SaIoYaa.. I Allred Eckert III T""..... 01 ConIIlli lrom Busse Broedcasting Corp. $110_lor_ wwvr·TV CBS KaIarrozoo, MI MlkaeI SaIoYaara I Allred Ecket1 III T""..... 01 Conlllli lrom Busse Broedcasting Colp. oI""""""y'aYO!ng KQlN·TV CBS l.ir ~12,199C KTHI·TV NBC Fargo, NO, and TV lranslators Meyer Broadcasting Co. Spokane T_sion 16.7_ ~12,199C KlKJ·TV 0.11< San _no, CA Paxson Cormu1caIions SanclooT_I_Oll) $18nillon ~1994 WCAU·TV CBS PhiladeIphia,PA NBC CBS SfalionswepP'" KCNC·TV NBC Denver,CO CBSIWeslinghouse NBC 130 rriIlon in ca'" horn NBC ~1994 KUTV-TV NBC SaIl Lal ~1994 WCIX·TV CBS Mlani CBSIWeslinghouse (Wesli1gOOuse has allribulable inl...sl) CBS conlrilullon I:> CBSIWeslilghouse Jot Noca'" KYW·TV CBS Philadelphia CBSIWesiinghouse (Wesli1gOOuse has Managng Conlllli) CBS conlrilullon I:> CBSIWeslilghouse Jot Nocalh _21,1994 KOLD-TV CBS TUSCDll,AZ Elis Cormu1lcaIions I-AajCOlTl) _Vi.... $230 _ tor all WSAV·TV NBC Savamah, GA Etis Cormu1lcaIions I-AajCOlTl) New Vision S230 miIion tor all WECT·TV NBC VIiIrrirlgton,NC Etis Cormu1lcaIions (_ AajCOlTl) New Vision $230 _ lor all WJTV-TV CBS Jackson, MS Elis Cc>nvru1Ic-.s I_ AajCOlTl) _Vi.... S230 miIion tor all KSFY·TV ABC Siow< Fals, SO Etis Cormu1lcaIions I-AajCOlTl) New Vision S230 miIion tor al KPAY·TV ABC P~"", SO I.a""sfalion) Etis Cormu1lcaIions I-AajCOlTl) New Vision S230 miIion lor all KABY·TV ABC Abeldeen. SO (repeater station) Etis Cormu1lcaIions I-AajCOlTl) New Vision $230 _ tor all WHLT·TV CBS Hatliesllurg,MS Etis Cormu1lcaIions I-AajCOlTl) New Vision S230 rNIion tor all KAlA CP DougIas,AZ Etis Cormu1lcaIions I-AajCOlTl) _Vi.... S230 rNIion lor all "last tiles stations are 81 salelile stabls __ling _21,1994 WCEE·TV Molft Vernon, IL McEn1ee Broadcasting $1.5mi1ion BEAR STEARNS Page 66 1 T_T...... -Fourtl>Cl_1114 DatI Yflnuctlon Dulgnatod _OIl ~ AllIIillIon ...",.IIngAtM Sol" (II_I01 IINI) __17,1994 WAlL·TV Indopendefll AIIanla.GA Owest (55% Jones, Cornelius. Davis, Rivera) Fo. Bioadcasting Company -$ISOnillion WNOl·TV Fo. NewO_s, LA -Owest (55% Jones. ComeIius. Davis, Rivera) Cliney Jooes $17_ __16,1994 KOAF·TV Indopendefll Dalas, TX Renaissaoce Cotmulications Fox Broadcastilg Company $100milion _16,1994 KDVR·TV Fo. Denver, CO Fox Broadcasling Comapany Renaissarce Comnuicalions $70_ _7,1994 KREN·TV lJnIyision Reno, Nevada Pappas Tolecasing SainleLtd. $3 milan _7,1994 WTGI·TV ToIen'urdo Wilrringlon, DE Posen Corrmri:ations Delaware Valley Broadcaslet'5 LP $9.6ni1ion __3,1994 WOKR·TV ABC R_or,NY GuyGannott Varonls, SLIlIer & Associates $60 n1IIon ~31,1994 WBMG·TV CBS llinrOlgIam,AL Pall< A<:quisions, Inc. (Donak! Toniin and Gary Knapp) Pa.. Cormuicalons $711.~ milon WTVQ·TV ABC Lesirglon, KY Pall< kquislons, Inc. {Donak! Toniin and Gary Knapp) Park Cormu1Ications $711.~_ KALB·TV NBC Alexandria, LA Pall< Acquisions,Inc.(DonaId Toniin and Gary Knapp) Palk Comm.Illcations $7114_ WLtTR'TV ABC UIica,NY Pell< kquislons, Inc (Donald Toniin and Gary Knapp) Pall< Conmricattons $7114mlion WNCT·TV CBS G"""",ile,NC Pall< Acquisions, kit. (Donak! Toniin and Gary Knapp) Pall< Conmricllions $7114_ WDEF·TV CBS Chattanooga, TN Pall< A<:quisions, inc. (Donald Toniin and Gary Knapp) Park Cormu1ica~ons $7114ni1ion WJHL·TV CBS JoMsonCity,TN Pall< A<:quisions, inc. (Donald Toniin and Gary Knapp) Pall< Conmri:attons $1114ni11on WTVR·TV CBS Richrr ~2~,1994 WNFT·TV Independent Jacksonville, Fl RDS Broadcasting Kryplon Broadcasting (lleblor in Possession) $10_ ~2~,1114 WTVK·TV Irdeperdenl Fort PIe_' Palm Beach, FL WNlehead Media Kryplon Broadcasling (lleblor in Possession) $17.2 miIion ~17,1994 WFXI·TV Fo. Uo_d City, NC and CP lor new UHF GCCOM l.ocaI Telewm Associates Inc. $4.6 miIion +$56 milion lor CP ~17,1994 WWAY·TV ABC WikTington, NC Elis CornrnLrications CLG Media $25.25 nilion ~17,1994 WlOX·TV ABC 810o, MS Ma'lJO' 01 Love Bioadcasting Co. into Cosroos Coil' lor $41 niliioo $41 niIIon ~10,1994 KBVO·TV Fo. Auslin, TX Granite Broadcasting Caman Comnu1icaions and Beam MIP" ~mllon ~~,1994 WJRT·TV ABC Flnl, MI Gap Citie..ABC SJL Brodcast Managemen' Colp.(~ lily) $155 miion lor bolh WTVG·TV NBC ToIedo,OH GapCitie..ABC SJlBrodca" Managemenl CoIp.(~ lily) $155 milion lor bolh ~3,1994 KSMS·TV UnMsion MonIerey, CA CalI""a Heanland Bioadcasling (Kill< Kopic, Pres.) KSMS· TV lP (Daniel v...... ) $4.29mlion october 3, 1994 KTHV·TV CBS Uttle Rod<, AR Gannel1Co Mansas Television Co. $27_{slod Page 67 BI?J\R STEARNS T_T_-~llM DoIoT_ ~ (Iס010o_11) $3 _ "-" ...... _ OnIgona-lng,lnc. Sll*nW26,ll1lM KEW-lV RI Eugene. OR- T_alEugene - - - T__AI. - CI~ -Q1onnoI17 _ lid. Sll*nW26,ll1lM WD8B-lV Fox HInd PC ~26.111lM WYEU·lV RI _.GA CBS _CorpnIlonal~ 122_ Sll*nW23.111lM WGPR·lV flIIlious Detnlit. III CBS WGPR '...·IGeoovo-. Plolldenl) 124_ SopleriJor.l1111lM KJ Sll*nWl.111lM WTXF·lV Fox ~.PA FOll-..ng~ 1200_ AIlpl31.111lM KART·lV FOll _.TX(SIn_AIlt} IIyIIIIl Jones &John KInlilI - 130_ AIlpl2l.111lM WMCC·lV RI MoIian.IN _V*/1IloodcaIting -Mo. T.V.Inc.IGJ. _&on. Pm.) 110_ AIlpl2ll.111lM WVIJE·lV ABC New 0II00n•• LA SFB..-uIng 1221_ WALA-lV NBC _.AI. SF_1ling - 8n>IdcuIilg 1221_ KHON·lV NBC _.HI SF_1ling -8n>IdcuIilg--...... 1221_ AIlpl 22. 111lM WHAI·lV RI 8lidgopoot.CT VIIutV_1nI1 IIddgonya Comnuic:dons $3.8_+'4'10112_ '-Clny- AIlpl22.111lM WSW·lV NBC _.TN -Coop. CadI ... 1158_ B&\R STEARNS Page 68 T.....IonT...... - __11M OIIoT_I.. Ooslgnatod PrIce Announcod "'-1Y A_ lhoblingAlu Pure...... (ai_of0011) ~22,1994 WHBQ·TV ABC ~Is,TN Fox -Conmricatioos Corporalion of America I8OrriIion ~15,1994 KUTV·TV NBC SaIl l.ake City NBC· 88% IHalch Famly 12%1 Veronis St.ttIer &Associales $100millon ~11,1994 WLfl·TV Fox RaJe91·Durharn. NC Silcla. Broodca" Vlacom-Paramotlll $55.5 miIion Augusl 8, 1994 WlUK·TV NBC G_ Bay, WI SF Broodca.ing Burrllam Broadcasting $38ni1on .kiy28,l994 KCQY·TV CBS Santa Maria. CA MoITis Conm.ri::alions Slauller Comnulicalions $215 miIIon lor an • p.ilIishng KMIZ·TV ABC ~,MQ Monis ConmIlil:ations Slauller Comnu1icaions $275 mIion lor II • pLlllishi1g KGWN·TV CBS/ABC Cheyome,WY Morris Conmrlicalions Stauffer COlmulications $275mi11onloral.iU*shI1g WlBW·TV CBS TopeI ,,\jy 18, 1994 WFDG·TV Ind Bedlonl, MA BAF EnlerpIIses(.lnlhony Fanl) Samslead Broodcanng CoIp $O.5mi1ion .kiylB,I994 WTNH·TV ABC New Haven, CT lINTe&evision Cooi< Inlet Broodcanng $120.2 mIion plus .lock inle...1s in LIN ,,\jy II, 1994 KOLT·TV NBC Sioux Fals, SO Rod River Broadca~ CoIp. Herilage _ CoIp. S41li1lon ,,\jy4,1994 KQAM·TV CBS Pirisbulgh, KS Saga Coomricalions ScoI8C1OW 'r<.(Frank _,Jr.} $8.6mi1ion ,,\jy4,l994 KAAL·TV ABC Auslin, MN Eastern Broadcasting Corp. MOM Broodcasling CoIp. $13m11ion .kiy4,1994 KTWQ·TV NBC C_,WY Emern Broa~ing Corp. IIlM BroacIcmI1g CoIp. $13_ ,,\jy4,1994 KKTU·TV salellle satelile . Cheyenne, WY Ea~em Broadcesling Corp. IIlM Broadcasting CoIp. $13_ Page 69 BEAR STEARNS ....