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MEDIA FAMILY TREES Top properties of the nation’s largest media companies by net revenue in 2006

Time Warner Walt Disney Co. . NBC Universal (General Electric Co.) CBS Corp. Cox Radio Gannett Co. Tribune Co. $33.99 billion net media revenue 1 $16.84 billion net media revenue 3 $14.09 billion net media revenue 4 $13.24 billion net media revenue 6 $12.18 billion net media revenue 7 65% $440.0 million net revenue/79 stations $6.33 billion net media revenue 12 $5.26 billion net media revenue 17 Fiscal year ended Sept. 30, 2006 Fiscal year ended June 30, 2007. News Corp. signed GE owns 80% and Universal owns 20% of Sale pending to employee stock ownership plan deal in August 2007 to buy Dow Jones & Co. NBC Universal STATION, LOCATION GROSS REVENUE and investor Turner Broadcasting System Disney Media Networks 82% Fox Broadcasting Co. NBC Television Network CBS Television Network WSB AM () ...... $43.6 Liberty owns 2.8% of Time Warner WALR FM (Atlanta) ...... 23.6 $4.78 billion net revenue $5.07 billion net revenue* $5.97 billion net revenue* $6.46 billion net revenue WSB FM (Atlanta) ...... 20.9 $5.12 billion net rev/90 U.S. dailies $3.96 billion net/25 U.S. papers WSRV (Atlanta) ...... 19.1 TOP NETWORKS NET REVENUE Fox TV network: $3.79 billion gross ad rev- NBC TV Network: More than 200 affiliates, CBS TV Network: More than 200 affiliates, GROSS REVENUE KKBQ FM (-Galveston) ...... 18.5 NEWSPAPER GROSS REVENUE TNT ...... $1,677.1 enue, 213 affiliates, 25 owned and operat- NBC owns 25% of A&E 10 owned and operated NBC stations 21 owned and operated CBS stations USA Today ...... $682.0 $1,156.9 ABC Television Network Gross revenue in millions from BIA Times ...... TBS ...... 1,072.6 ed by STATION, LOCATION GROSS REVENUE The Arizona Republic (Phoenix) . . . .545.1 837.1 $5.39 billion net revenue Tribune ...... CNN and CNN Headline News ...... 961.1 STATION, LOCATION GROSS REVENUE WNBC (New York) ...... $344.0 STATION, LOCATION GROSS REVENUE Publicly held Cox Radio is 65% owned by The Indianapolis Star ...... 308.1 (Long Island, N.Y.) ...... 520.5 Cartoon Network ...... 524.3 KTTV (Los Angeles) ...... $291.8 KNBC (Los Angeles) ...... 306.0 KCBS (Los Angeles) ...... $216.0 Free Press ...... 297.7 391.8 ABC TV Network: $6.15 billion gross ad rev- South Florida Sun-Sentinel ...... Court TV ...... 253.0 WNYW (New York) ...... 240.0 WMAQ (Chicago) ...... 145.3 WCBS (New York) ...... 190.0 The (Louisville) Courier-Journal . . .268.4 304.8 enue, 228 affiliates, 10 o&o ABC stations EchoStar Communications Group The Baltimore Sun ...... Turner Classic Movies ...... 203.1 WFLD (Chicago) ...... 160.3 WRC (Washington, D.C.) ...... 136.0 KYW (Philadelphia) ...... 130.0 $9.46 billion net media revenue 9 Gross revenue in millions from BIA Gross revenue in millions from BIA Boomerang ...... 22.6 KDFW (-Ft. Worth) ...... 125.1 KXAS (Dallas-Ft. Worth) ...... 132.1 WBBM (Chicago) ...... 109.0 STATION, LOCATION GROSS REVENUE CNN en Espanol ...... 10.2 WTTG (Washington) ...... 108.9 Gross revenue in millions from BIA KPIX (-Oakland) . . . . .100.5 WABC (New York) ...... $303.0 Net revenue in millions from SNL Kagan 240.0 Gross revenue in millions from BIA; *net revenue Gross revenue in millions from BIA KABC (Los Angeles) ...... includes MyNetworkTV o&os *Includes all NBCU o&os DISH Network USA Weekend WGN AM Chicago WPVI (Philadelphia) ...... 196.2 13.1 million subscribers $476.7 million gross ad revenue $41.2 million net revenue WLS (Chicago) ...... 191.0 Owns 25 Fox affiliates but is in the process of selling 10 KGO (San Francisco) ...... 105.0 $564.0 million net revenue* 50% CW Television Network Home Box Office Gross revenue in millions from BIA MyNetworkTV launched September 2006 Gannett Broadcasting $2.93 billion net rev/45 million subs $47.6 million net revenue* Telemundo TV Network: $854.8 million net revenue $8.44 billion net media revenue Tribune owns 40.8% of CareerBuilder $1.18 billion net rev/36 U.S. stations Includes multiple HBO and Cinemax channels in the U.S. 36 affiliates, 16 o&o Telemundo stations, dis- CW TV Network: 204 affiliates; 11 CBS 10 Excludes DVDs and syndication tribution to nearly 700 cable affiliates Corp.-o&o CW stations including these: ESPN MyNetworkTV: 175 affiliates, 10 owned and STATION, LOCATION, AFFILIATE REVENUE* STATION, LOCATION, AFFILIATE REVENUE* operated by Fox Television Stations STATION, LOCATION GROSS REVENUE KUSA () NBC ...... $111.5 Time Inc. 80% WPIX (New York) CW ...... $210.0 $5.28 billion net rev/6 networks WKAQ (San Juan, P.R.) ...... $65.5 Time Warner owns STATION, LOCATION GROSS REVENUE MTV Networks 94.2 50% of CW WXIA (Atlanta) NBC ...... KTLA (Los Angeles) CW ...... 158.3 $3.60 billion net revenue KVEA (Los Angeles) ...... 56.1 KBCW (San Francisco-Oakland) . . . .$52.5 $4.99 billion net revenue* 91.7 NETWORK NET REVENUE STATION, LOCATION GROSS REVENUE KPNX (Phoenix) NBC ...... WGN (Chicago) CW ...... 150.4 115.0 WSCV () ...... 56.1 WKBD (Detroit) ...... 47.8 88.5 ESPN ...... $4,335.6 WWOR (New York) ...... $ WUSA (Washington) CBS ...... KDAF (Dallas-Ft. Worth) CW ...... 59.0 95.0 WNJU (New York) ...... 35.0 WPSG (Philadelphia) ...... 43.3 TOP 10 NETWORKS NET REVENUE 82.6 ESPN2 ...... 640.9 KCOP (Los Angeles) ...... KARE (-St. Paul) NBC . . . . WPHL (Philadelphia) MyTV ...... 55.0 46.0 WSNS (Chicago) ...... 19.5 WTOG (Tampa) ...... 36.8 Nickelodeon ...... $1,756.5 Time Inc. magazines ESPN Classic ...... 166.2 WPWR (Chicago) ...... *Gross revenue in millions from BIA *Gross revenue in millions from BIA 37.8 Gross revenue in millions from BIA WUPA (Atlanta) ...... 26.0 MTV ...... 1,215.7 ESPNews ...... 116.1 WDCA (Washington) ...... $3.98 billion gross ad revenue 35.8 Comedy Central ...... 661.9 ESPNU ...... 13.3 KDFI (Dallas-Ft.Worth) ...... *Excludes o&os Gross revenue in millions from BIA include revenue from before network’s September 2006 launch VH1 ...... 532.6 TOP 10 MAGAZINES GROSS AD REVENUE Net revenue in millions from SNL Kagan Gross revenue in millions from BIA include revenue Spike TV ...... 519.9 CareerBuilder 57 People ...... $872.7 from before network’s September 2006 launch; the net- NBC Universal Cable Magazines Hearst owns 20% of ESPN work was formed following the dissolution of UPN and TV Land ...... 273.3 40.8% Time ...... 661.3 $2.92 billion net revenue $672.0 million net revenue $106.7 million gross ad revenue WB; *partial year, excludes o&os CMT ...... 172.6 Sports Illustrated ...... 618.0 Westwood One 72 Noggin ...... 110.2 InStyle ...... 410.1 ESPN The Magazine NETWORKS NET REVENUE TOP MAGAZINES GROSS AD REVENUE 19% $494.0 million net revenue MTV2 ...... 69.7 $41.4 ...... 246.5 $269.3 million gross ad revenue USA Network ...... $1,242.6 AT&T Magazine ...... 536.5 Managed by CBS Radio, content to more than 7,000 sta- Nick Toons ...... 45.7 West ...... 37.8 Fortune ...... 300.9 Fox Cable Networks CNBC ...... tions and has nine networks including CBS, CNN and NBC $5.68 billion net media revenue 13 248.3 Sci Fi ...... 510.9 Net revenue in millions from SNL Kagan Chicago Magazine ...... 27.5 ...... $3.63 billion net revenue AT&T media contributions come from AT&T Yellow Pages Golf Magazine ...... 174.8 Disney Cable Networks ...... 322.7 CBS Radio * estimate Gross ad revenue in millions from PIB MSNBC ...... 270.3 Money ...... 161.1 $1.62 billion net rev/4 networks $1.95 billion net rev/140 stations NETWORK NET REVENUE Net revenue in millions from SNL Kagan Essence ...... 104.3 Fox Sports Net ...... $1,806.8 BET Networks Gross ad revenue in millions from PIB NETWORK NET REVENUE FX ...... 695.4 TOP 5 STATIONS GROSS REVENUE $525.3 million net revenue $5.50 billion net media revenue WGN Liberty owns 16.2% of News Corp. 64.5 14 Disney Channel ...... $931.2 ...... 688.0 KROQ FM (Los Angeles) ...... $ 231.6 59.7 Charter has 6.2 million cable subscribers more than 70 million homes ABC Family ...... 416.5 Speed Channel ...... WINS AM (New York) ...... NETWORKS NET REVENUE Channel ...... 92.3 Universal Studios 56.2 SoapNet ...... 140.2 WCBS AM (New York) ...... BET ...... $494.9 Net revenue in millions from SNL Kagan $1.76 billion net U.S. revenue 53.9 Toon Disney ...... 131.9 KCBS FM(Los Angeles) ...... BETJ ...... 29.2 Southern Progress Corp. Includes , Rogue Pictures and 50.6 Cablevision Systems Net revenue in millions from SNL Kagan home entertainment WFAN AM (New York) ...... Net revenue in millions from SNL Kagan 31% Food Network $655.0 million gross ad revenue Gross revenue estimates in millions from BIA $5.41 billion net media revenue 15 Ion Media Networks* $427.4 million net revenue TOP MAGAZINES GROSS AD REVENUE National Geographic Channel E.W. Scripps owns 69% ...... $207.4 67% $223.1 million net revenue $228.9 million net revenue Paramount Pictures ...... 135.7 A&E Television Networks 39 National Geographic Television owns 33%; operates Cable systems 37.5% CBS Outdoor $1.91 billion net revenue Sunset ...... 107.3 $1.19 billion net revenue under Fox Cable Networks Ion Media Networks: 60 o&o Ion stations; $4.24 billion net revenue/3.1 mil. subs 25% $1.37 billion net revenue Health ...... 89.5 by NBC Newspapers the largest is WPXN, New York, with gross Includes DreamWorks and home entertainment Coastal Living ...... 48.0 NETWORK NET REVENUE revenue of $10.6 million, according to BIA $577.4 $248.6 million net revenue DATACENTER ...... 34.2 A&E ...... *Being acquired by Citadel Investment Group, a hedge Showtime Networks Cable networks Gross ad revenue in millions from PIB History Channel ...... 512.9 fund. NBC Universal holds a minority stake in Ion. $1.17 billion net revenue Biography ...... 52.6 New York Post had net revenue of $232.0 $1.03 billion net rev/49.2 million subs million in 2006. News Corp. in 2006 bought iVillage History International ...... 36.8 Includes The Movie Channel and Flix; owns 37% of $7.84 billion net media revenue 11 two chains of weekly news- Sundance Channel TOP 10 NETWORKS NET REVENUE ABOUT THE POSTER Net revenue in millions from SNL Kagan 367.6 papers with total circulation of 140,000. AMC ...... $ THIS POSTER SHOWS all media compa- Warner Bros., New Line Hearst owns 37.5% of A&E CSTV MSG* ...... 258.9 $2.91 billion net U.S. revenue $55.3 million net revenue Conde Nast Publications WE TV ...... 139.8 nies with estimated U.S. media net rev- enue greater than $5 billion. Media is Includes Fine Line, home entertainment Lifetime Entertainment Svcs Malone media holdings College Sports TV acquired by CBS January 2006 $3.68 billion gross ad revenue Independent Film Channel ...... 92.7 50% 50% 48 67.9 defined as information and entertain- $920.2 million net revenue Twentieth Century Fox Fuse ...... This grouping shows two companies controlled by TOP 10 MAGAZINES GROSS AD REVENUE Net revenue in millions from SNL Kagan ment content distribution systems in CW Television Network $2.95 billion net U.S. revenue cable dealmaker John Malone Cox Enterprises $380.9 Vogue ...... which advertising is a key element. launched in 2006 NETWORK NET REVENUE Includes Fox Searchlight and home entertainment Liberty Media Corp. $10.39 billion net media revenue 8 Glamour ...... 309.3 *Ad Age estimate Joint venture of Warner Bros. Entertainment and CBS Corp. Lifetime ...... $794.2 37 252.9 Excluded are non-media ventures $1.26 billion net revenue Vanity Fair ...... Lifetime Movie Network ...... 111.5 Fox Interactive Media New Yorker ...... 204.1 (such as books, music, retail and con- 14.5 In ’07, Liberty traded Time Warner stock for Atlanta Braves, Brides ...... 190.8 Clear Channel Communications Lifetime Real Women ...... $385.0 million net revenue Leisure Arts (craft books/products) and cash (keeping 2.8% Cox Television sumer products) and non-U.S. revenue. Time Warner Cable Net revenue in millions from SNL Kagan GQ ...... 190.3 $5.27 billion net media revenue 16 Includes MySpace.com TW stake); and traded CBS shares for a TV station and cash. 84% $11.74 billion net/13.5 million subs It is trading 16.2% of News Corp. for 38.5% of DirecTV, three $648.9 million gross revenue/24 stations Lucky ...... 172.2 Private equity consortium has deal to buy company The numbers in circles are rankings Hearst owns 50% of Lifetime regional sports TV networks and cash. In ’06, it traded IDT 170.7 Corp. stake for Starz Media. ...... in Advertising Age’s 100 Leading Media News America Marketing STATION, LOCATION, AFFIL GROSS REVENUE ...... 167.1 $142.1 Clear Channel Radio Companies report. The poster shows Walt Disney Studios $609.0 million net revenue Starz Entertainment WSB (Atlanta) ABC ...... Self ...... 164.1 AOL KTVU (San Francisco) FOX ...... 133.7 Gross ad revenue in millions from PIB $3.70 billion net revenue major media properties; it does not $2.67 billion net revenue NAM’s media tally is for FSIs and in-store $1.03 billion net revenue $5.46 billion net/12 million subs WFTV (Orlando-Daytona Beach) ABC . . .83.9 break out every media brand. Includes Buena Vista, Dimension, Miramax, Pixar 16.1 million Starz subscribers, 28.4 million Encore subs 64.0 STATION, LOCATION GROSS REVENUE Google in 2005 bought 5% stake in AOL and home entertainment WSOC (Charlotte) ABC ...... This poster accompanies the 100 Weekly Standard KIRO (Seattle-Tacoma) CBS ...... 63.3 WLTW FM (New York) ...... $65.6 63.4 Buena Vista Magazines Gross revenue in millions from BIA Advance Newspapers KFI AM (Los Angeles) ...... Leaders report published Oct. 1, 2007, Starz Media 61.0 $120.3 million gross ad revenue $206.9 million net revenue $2.17 billion net revenue/27 dailies KIIS FM (Los Angeles) ...... in print and at AdAge.com. KOST FM (Los Angeles) ...... 53.0 TV/film production, DVDs WHTZ FM (New York) ...... 47.3 Leading Media Co. Broadcast TV Corp. TOP MAGAZINES GROSS AD REVENUE 41% Gemstar-TV Guide Int’l 75 Cox Newspapers NEWSPAPER GROSS REVENUE FamilyFun ...... $94.5 Star-Ledger (Newark) ...... $447.1 Premiere Radio Networks: Provides $27.39 billion net media revenue 2 $462.0 million net revenue Magazine Cable TV network Disney Adventures ...... 19.0 IAC/InterActiveCorp 58 $1.40 billion net rev/17 dailies (Cleveland) ...... 416.5 content to more than 4,600 affiliates Owns 20% of Metro-Goldwyn-Mayer 6.8 24% $664.8 million net revenue (Portland) ...... 334.6 Gross revenue estimates in millions from BIA Wondertime ...... Movies & home entertain. Cable/satellite system Gross ad revenue in millions from PIB NEWSPAPER GROSS REVENUE -Picayune (New Orleans) . . .209.8 TV Guide Channel/Interactive Atlanta Journal-Constitution . . . . .$451.7 140.1 Comcast Cable Birmingham News (Birmingham) . . . Newspaper Radio $301.8 million net revenue Austin American-Statesman ...... 193.8 Gross revenue in millions from BIA $26.34 bil. net rev/24.2 million subs Discovery Holding Co. 189.1 Clear Channel Television The Palm Beach Post ...... $308.7 million net revenue Digital Out of home/other $22.8 million net revenue ...... 138.5 ESPN Radio and Radio Disney Discovery Holding Co. owns two-thirds of Discovery Comms; also Waco Tribune-Herald ...... 27.3 TV Guide owns AccentHealth, a provider of TV programs in doctors’ offices STATION, LOCATION, AFFILIATE REVENUE* Owns less than 100% $147.0 million net revenue Gross revenue in millions from BIA Parade Publications Cable Networks $149.9 million net revenue WKRC (Cincinnati) CBS ...... $41.2 Shows less than majority ownership and owner-

News Corp. owns 38.5% of DirecTV. See notes under News Corp. owns DirectTV Group and 38.5% of DirecTV. Malone media holdings 31 $642.5 million gross ad revenue $1.05 billion net revenue Discovery Communications 33.3% Cox Newspapers also owns 26 non-dailies 29.0 ship split among 100 leading media companies ESPN Radio: Five o&o stations and content 66.7% WOAI () NBC ...... $1.75 billion net/15 U.S. networks 25.9 o&o means owned and operated on more than 350 full-time affiliates KTVX (Salt Lake City) ABC ...... NETWORKS NET REVENUE 21.2 Radio Disney: 40 o&o stations WAWS (Jacksonville, Fla.) FOX ...... E! Entertainment Television ...... $366.7 NETWORK NET REVENUE American City Business Journals 20.8 For more data on media and marketing, DirecTV Group $637.6 $7.30 billion net rev/6.7 million subs WHAM (Rochester, N.Y.) ABC ...... MORE ...... 301.3 Discovery ...... 41 business publications *Gross revenue in millions from BIA INFO go to the DataCenter at ADAGE.COM 172.7 $13.74 billion net media revenue 5 TLC ...... 435.1 Versus (formerly Outdoor Life) . . . . Includes Sporting News; Street & Smith’s Sports Group Style Network ...... 118.1 News Corp. is selling its stake in DirecTV to Animal Planet ...... 179.1 Sale of Clear Channel Television to Providence Equity Citadel Broadcasting Liberty Media (see notes, right) Partners pending G4* ...... 98.0 45 Discovery Health ...... 121.4 Cox Auto Trader 0% $985.8 million net revenue 100.5 This document, and information contained therein, is the copy- AZN Television ...... 24.5 DirecTV BBC America ...... $519.0 million net revenue 89% Clear Channel Outdoor righted property of Crain Communications Inc. and Advertising Age Net revenue in millions from SNL Kagan Net revenue in millions from SNL Kagan $2.06 billion net rev/2.2 million subs (© Copyright 2007) and is for your personal, non-commercial use Disney in June 2007 spun off ABC Radio network and 16.0 million U.S. subscribers $1.26 billion net revenue only. You may not reproduce, display on a website, distribute, sell Disney’s 22 o&o ABC radio stations to Citadel, which Managed by Advance/Newhouse Communications; or republish this document, or the information contained therein, *Owns 85% of G4 owns 243 U.S. stations Advance/Newhouse owns one-third of Discovery Comms. Advance/Newhouse owns one-third of Discovery Comms. without prior written consent of Advertising Age.

NET U.S. REVENUE IN 2006 BY MEDIA FOR FIVE MULTIMEDIA PLAYERS TIME WARNER $33.99 BILLION COMCAST CORP. $27.39 BILLION WALT DISNEY CO. $16.84 BILLION NEWS CORP. $14.09 BILLION NBC UNIVERSAL $13.24 BILLION

Other media Magazines Cable networks Magazines Other media Newspapers Other media $1.05 billion; 3.8% $2.92 billion; 8.6% $3.60 billion; 10.6% Other media $365.8 million; 2.2% $1.53 billion; 10.9% $248.6 million; 1.8% $1.65 billion; 12.5% Movies & home Broadcast TV $1.22 billion; 7.3% Broadcast TV Movies & home Broadcast TV $6.53 billion; 49.3% entertainment $397.0 million; 1.2% $5.39 billion; 32.0% Movies & home $2.91 billion; 8.6% entertainment Movies & home entertainment entertainment $2.67 billion; 15.9% $1.76 billion; 13.3% Digital $2.95 billion; 21.0% Broadcast TV Cable networks $280.0 million; 1.7% $5.12 billion; 36.3% Digital Digital $6.97 billion; 20.5% $5.46 billion; 16.1% $380.0 million; 2.9% Radio Digital $147.0 million; 0.9% $385.0 million; 2.7% Cable networks Cable networks $2.92 billion; 22.0% $3.85 billion; 27.3% Cable systems Cable systems Cable networks $11.74 billion; 34.5% $26.34 billion; 96.2% $6.76 billion; 40.1%

Source: Ad Age DataCenter estimates of U.S. media revenue based primarily on data from financial filings, TNS Media Intelligence, Publishers Information Bureau, BIA and SNL Kagan. Percentages represent a medium’s share of the media pie. For example, in the Time Warner pie, magazines represent 10.6% of TW’s U.S. revenue drawn from media properties. Fifth-ranked DirecTV is omitted from the pies because 100% of its net U.S. media revenue come from one segment. Digital segments are not all inclusive; other units may include some digital revenue.