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ows wc.ck ic.ross cm mamkcts with anothes thiec in irk is schcduled in such pci 01% Out en scpu liii its the our ibint and tecdorn han succcssfulls transitionc.cl tatsons into an cuitum nd we aic cein mmpioscnxnls in cmi and financial \%c behcsc ratin.s pciformancc we can achitse similar result 1mm ow subscq acnr cc wsitionc lit with the kecpin map ins histor3 ot being tints aid looking md entwprtneurial wc tie ated hc sapeakc It who ow ncd which will be uscd thc sch tie small subsidiars as operating to implerncnt cnu maiket ides icion acquisition situ Vi Iauncl cd this nuriatnc with an recent tin announccmcnts to icquitc Barrington l3iotctcastinp and inc of tIn OX \kcha Gi nip telesiJon tatic its Ihis tnnovattse ctmuctwc of basing dual opetating sti attire mat fat small nbiket and nise fort ad wccl matkc that theic ire tilts .tntI economic difteiences in ukct that atfcct and secogaics conapc amon vms pimcin an cubit an.auemcnt Vie beliesc that ntittino each atinn wilts risc flcubilits to thin pci opet opera tc ss it n.uket it mu will allots to niasimi tie alnhts Vat to the small market 1% piot ctpcct piow pcnc1tn acqui ittons asci I3III\ In miLlion anti when combined with the S16 million l.BIIIt horn the mid inakct iowth stations alrcads timid cquatc cii tip 38 miii in om 84 sh ue of 8.3t pet equtts aluc apph nip pin cqumts multiple Vihcn look out indu.ti coiasistcd backto 199 intIc couicc recenuc rnodcL co rcialadcit wd ui ilc its sill nm sunk is out usinc tod usa benctit from ictransinisnon di ital intcnc anti alum priunars we tcscnuc tic spcctru iiPt ppoutaic itucs ucla ch he otfi as seconclais muds thicts aic auctat tsatnplc of toss wi and flit indusns han esoiscd with rcchnoio intl and us look shcad to ncst scscial othci cornpctitson dx iears ccc main potcnti.al titan nodcls scil owtb om mint still in cii mt.aes laic tel for ibis what e.ustmn taut ansnamssion fecs intanc ic putt in mult suit pints isa dmstu ii urn as cable nad satelluuc itt for them the uc pros MVPIb an nip tight tO sesdil ow .iiail hcsr suhsc ib rs es cii attn ams of ncrotm suimw fees miS an industrs our share of the apptouinatc \33 billicni in total aft ate let taid In di \I\ PUs ci sIt about 800 is cit In oadc 1st it of the auduenc..c shire \lorcoscr belics though pmescnts 10 we dx \1\ PLs con inue pat abk tic rworl far channi Is with httlc audit itce shamc double lana tin digit jx scent inc acts contuac new ss itch cconth mc how much trowth still usts fat broadc astcr Vic untcndto potential aggressisch pa Sc maui km sabc cd alandsi with men ipc is chanaitn qumckh tcchnolopmcal adsanccs tad preatcr scouts items content It spiritist thstwc tcmaan rclcsant to misc inc nimble and oiler to and adscitisei ii salue np pmoducts siesset at casts ropou ion One ich dioutal inteactise Still much csamnplc DI scrs in its initial tapes Dl isi ipmdh osowin setnaent of lnoackastc sescni It allows us to be mnteiactnc with otu sicw is an alcs and maskctino olution lot adsc ad which snapottans tiseis ft us pot arsina multi ii It in tin future of fiat itt our contcnt act ap mach iou behcs tarn ncr mobile des icc as accc lc dci itt ortals then tould lx thmillcd that btoadcasicis tins adstitismg ou au entennu spacc ha approach so 11 is to icluser count than iula tbc wcLi usc incck netwoiks tin oh dcsiccs tnt ocal flat ptuposc ot buiIctin cant uctut and ads.x act with our audiencc md out business two content Corns the wus cdefusinc dehsciy plat in new Iemspcctn iii chanpjn1 the lit ic of the ncw crooin buulda audicnce lit slit and allowing to smmccl tel di emulate inc akin tic tori sod sick on srtouc p1 attoiin answhctm antimc Zur of stations with local of which located in remind of acquisitions significant news presence many are state capital cities us our civic duty to keep our viewers informed on issues The traditional news room view is simply to report on the news At believe it is audience have their voice heard That is the Sinclair we just as important to empower our to why we are producing Your Voice Your Future town hail meetings which are discussion forums focused on range of topics including taxes gun control immigration healthcare and education to name few Our goal is to make viewers aware of issues in front of elected officials and provide the audience an avenue to make their voice heard The town halls are aired on our primary and secondary channels as well streamed through our stations websites the this describe visions models 1ver years have used communication to technological advancements and of potential revenue for our industry One such development involves geographically targeting commercials also known as zone selling This ability in market based to break our signal into parts thereby selling the same commercial inventory unit multiple times the local on zones provides us means by which to compete directi with the monopolistic cable interconnects For advertisers the ability to target their message to portion of the market is an important concept with relevant value for them For us we believe the sum of the sales would than the sale of the entire market this idea further could zone more aggregate one spot to Taking one step means we also distribute local news on hyper-local basis meeting consumers needs for more community-based information While the of these still few and involve infrastructure it is that understand reality concepts are years away changes imperative we how and the role in remain relevant and increase viewing consumption patterns are changing technology can play assisting us to our competitive position In the past we have discussed at length the opportunities and benefits of mobile television platform While mobile broadcast in of robust transmission solution has been slower to develop than originally outlined its success ultimately lies the adoption more standard and in-roads continue to be made in that regard the As look back on 2012 it was remarkable year for us financially We grew net broadcast revenues 42.l% driven by acquisitions record-breaking political revenues and growth in the automotive sector We generated an unprecedented S21 million of free cash flow When entered the and markets almost it with the of we merger acquisition two years ago was goal ultimately growing free cash flow As result in 2012 our Board of Directors decided to not only increase the quarterly dividend from $0.12 to but also declare 51.00 free cash flow $0.15 per share to special dividend testament to our story So despite having purchased over $1 billion in assets and paying $124 million in dividends we managed to