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Investing In Television® MARKET REPORT 2013 Second Edition

Also available on CD ROM and via the Internet through BIA/Kelsey’s MEDIA Access Pro™

BIA/Kelsey • 15120 Enterprise Ct., Chantilly, VA 20151-1217 • Phone: 703-818-2425 • Fax: 703-803-3299 • E-mail: [email protected] • Web: www.biakelsey.com Investing in Television® Market Report 2013, 2nd Edition Alphabetic Listing of Markets BIA /Kelsey • Phone: 703-818-2425 • www.biakelsey.comwww.biakelsey.com

Rank Market Rank Market Rank Market 164 Abilene-Sweetwater, TX 87 Chattanooga, TN 163 Gainesville, FL 150 Albany, GA 195 Cheyenne, WY-Scottsbluff, NE 210 Glendive, MT 58 Albany-Schenectady-Troy, NY 3 Chicago, IL 185 Grand Junction-Montrose, CO 47 Albuquerque-Santa Fe, NM 131 Chico-Redding, CA 39 Grand Rapids-Kalamazoo-Battle Creek, MI 179 Alexandria, LA 35 Cincinnati, OH 190 Great Falls, MT 208 Alpena, MI 170 Clarksburg-Weston, WV 69 Green Bay-Appleton, WI 130 Amarillo, TX 18 -Akron, OH 46 Greensboro-High Point-Winston Salem, NC 145 Anchorage, AK 89 Colorado Springs-Pueblo, CO 100 Greenville-New Bern-Washington, NC 9 , GA 77 Columbia, SC 37 Greenville-Spartanburg, SC-Asheville, NC 113 Augusta, GA 138 Columbia-Jefferson City, MO 188 Greenwood-Greenville, MS 45 Austin, TX 127 Columbus, GA 86 Harlingen-Weslaco-Brownsville-McAllen, TX 126 Bakersfi eld, CA 32 Columbus, OH 43 Harrisburg-Lancaster-Lebanon-York, PA 27 , MD 133 Columbus-Tupelo-West Point, MS 178 Harrisonburg, VA 155 Bangor, ME 129 Corpus Christi, TX 30 Hartford-New Haven, CT 94 Baton Rouge, LA 5 -Ft. Worth, TX 167 Hattiesburg-Laurel, MS 141 Beaumont-Port Arthur, TX 99 Davenport, IA-Rock Island-Moline, IL 206 Helena, MT 192 Bend, OR 63 Dayton, OH 71 Honolulu, HI 168 Billings, MT 17 Denver, CO 10 , TX 160 Biloxi-Gulfport, MS 72 Des Moines-Ames, IA 79 Huntsville-Decatur-Florence, AL 157 Binghamton, NY 11 , MI 162 Idaho Falls-Pocatello, ID 42 Birmingham, AL 169 Dothan, AL 26 , IN 156 Bluefi eld-Beckley-Oak Hill, WV 139 Duluth, MN-Superior, WI 93 Jackson, MS 111 Boise, ID 91 El Paso, TX 176 Jackson, TN 7 , MA 174 Elmira, NY 50 Jacksonville, FL 182 Bowling Green, KY 146 Erie, PA 102 Johnstown-Altoona, PA 52 Buffalo, NY 121 Eugene, OR 181 Jonesboro, AR 97 Burlington, VT-Plattsburgh, NY 194 Eureka, CA 149 Joplin, MO-Pittsburg, KS 187 Butte-Bozeman, MT 104 Evansville, IN 207 Juneau, AK 197 Casper-Riverton, WY 202 Fairbanks, AK 31 Kansas City, KS-MO 90 Cedar Rapids-Waterloo- City-Dubuque, IA 117 Fargo-Valley City, ND 61 Knoxville, TN 83 Champaign-Springfi eld-Decatur, IL 67 Flint-Saginaw-Bay City, MI 128 La Crosse-Eau Claire, WI 98 Charleston, SC 55 Fresno-Visalia, CA 189 Lafayette, IN 65 Charleston-Huntington, WV 62 Ft. Myers-Naples, FL 124 Lafayette, LA 25 Charlotte, NC 101 Ft. Smith-Fayetteville-Springdale-Rogers, AR 175 Lake Charles, LA 183 Charlottesville, VA 109 Ft. Wayne, IN 115 Lansing, MI 184 Laredo, TX 81 Paducah-Cape Girardeau-Harrisburg-Mt Vernon 112 Sioux Falls-Mitchell, SD 40 , NV 148 Palm Springs, CA 95 South Bend-Elkhart, IN 64 Lexington, KY 159 Panama City, FL 73 Spokane, WA 199 Lima, OH 193 Parkersburg, WV 74 Springfi eld, MO 105 Lincoln-Hastings-Kearney, NE 116 Peoria-Bloomington, IL 114 Springfi eld-Holyoke, MA 56 Little Rock-Pine Bluff, AR 4 Philadelphia, PA 201 St. Joseph, MO 2 , CA 13 Phoenix, AZ 21 St. Louis, MO 48 Louisville, KY 23 , PA 84 Syracuse, NY 142 Lubbock, TX 22 Portland, OR 106 Tallahassee, FL-Thomasville, GA 120 Macon, GA 80 Portland-Auburn, ME 14 Tampa-St Petersburg-Sarasota, FL 85 Madison, WI 205 Presque Isle, ME 154 Terre Haute, IN 198 Mankato, MN 53 Providence, RI-New Bedford, MA 76 Toledo, OH 180 Marquette, MI 171 Quincy, IL-Hannibal, MO-Keokuk, IA 136 Topeka, KS 140 Medford-Klamath Falls, OR 24 Raleigh-Durham, NC 119 Traverse City-Cadillac, MI 49 Memphis, TN 173 Rapid City, SD 96 Tri-Cities, TN-VA 186 Meridian, MS 108 Reno, NV 70 Tucson, AZ 16 Miami - Ft. Lauderdale, FL 57 Richmond-Petersburg, VA 59 Tulsa, OK 34 , WI 68 Roanoke-Lynchburg, VA 191 Twin Falls, ID 15 Minneapolis - St. Paul, MN 153 Rochester, MN-Mason City, IA-Austin, MN 107 Tyler-Longview, TX 151 Minot-Bismarck-Dickinson, ND 78 Rochester, NY 172 Utica, NY 166 Missoula, MT 135 Rockford, IL 204 Victoria, TX 60 Mobile, AL-Pensacola, FL 20 Sacramento-Stockton-Modesto, CA 88 Waco-Temple-Bryan, TX 137 Monroe, LA-El Dorado, AR 144 Salisbury, MD 8 Washington, DC 125 Monterey-Salinas, CA 33 , UT 177 Watertown, NY 118 Montgomery, AL 196 San Angelo, TX 134 Wausau-Rhinelander, WI 103 Myrtle Beach-Florence, SC 36 , TX 38 West Palm Beach-Ft. Pierce, FL 29 Nashville, TN 28 San Diego, CA 158 Wheeling, WV- Steubenville, OH 51 New Orleans, LA 6 -Oakland-San Jose, CA 66 Wichita - Hutchinson, KS 1 New York, NY PR San Juan, PR 143 Wichita Falls, TX -Lawton, OK 44 Norfolk-Portsmouth-Newport News, VA 122 Santa Barbara-Santa Maria-San Luis Obispo, CA 54 Wilkes Barre-Scranton, PA 209 North Platte, NE 92 Savannah, GA 132 Wilmington, NC 152 Odessa-Midland, TX 12 Seattle-Tacoma, WA 123 Yakima-Pasco-Richland-Kennewick, WA 41 City, OK 161 Sherman, TX - Ada, OK 110 Youngstown, OH 75 Omaha, NE 82 Shreveport, LA 165 Yuma, AZ-El Centro, CA 19 Orlando-Daytona Beach-Melbourne, FL 147 Sioux City, IA 203 Zanesville, OH 200 Ottumwa, IA-Kirksville, MO

Investing in Television® Market Report 2013, 2nd Edition Alphabetic Listing of Markets BIA /Kelsey • Phone: 703-818-2425 • www.biakelsey.comwww.biakelsey.com Investing in Television® Market Report 2013, 2nd Edition Rank Listing of Markets BIA /Kelsey • Phone: 703-818-2425 • www.biakelsey.comwww.biakelsey.com

Rank Market Rank Market Rank Market

1 New York, NY 36 San Antonio, TX 71 Honolulu, HI 2 Los Angeles, CA 37 Greenville-Spartanburg, SC-Asheville, NC 72 Des Moines-Ames, IA 3 Chicago, IL 38 West Palm Beach-Ft. Pierce, FL 73 Spokane, WA 4 Philadelphia, PA 39 Grand Rapids-Kalamazoo-Battle Creek, MI 74 Springfi eld, MO 5 Dallas-Ft. Worth, TX 40 Las Vegas, NV 75 Omaha, NE 6 San Francisco-Oakland-San Jose, CA 41 , OK 76 Toledo, OH 7 Boston, MA 42 Birmingham, AL 77 Columbia, SC 8 Washington, DC 43 Harrisburg-Lancaster-Lebanon-York, PA 78 Rochester, NY 9 Atlanta, GA 44 Norfolk-Portsmouth-Newport News, VA 79 Huntsville-Decatur-Florence, AL 10 Houston, TX 45 Austin, TX 80 Portland-Auburn, ME 11 Detroit, MI 46 Greensboro-High Point-Winston Salem, NC 81 Paducah-Cape Girardeau-Harrisburg-Mt Vernon 12 Seattle-Tacoma, WA 47 Albuquerque-Santa Fe, NM 82 Shreveport, LA 13 Phoenix, AZ 48 Louisville, KY 83 Champaign-Springfi eld-Decatur, IL 14 Tampa-St Petersburg-Sarasota, FL 49 Memphis, TN 84 Syracuse, NY 15 Minneapolis - St. Paul, MN 50 Jacksonville, FL 85 Madison, WI 16 Miami - Ft. Lauderdale, FL 51 New Orleans, LA 86 Harlingen-Weslaco-Brownsville-McAllen, TX 17 Denver, CO 52 Buffalo, NY 87 Chattanooga, TN 18 Cleveland-Akron, OH 53 Providence, RI-New Bedford, MA 88 Waco-Temple-Bryan, TX 19 Orlando-Daytona Beach-Melbourne, FL 54 Wilkes Barre-Scranton, PA 89 Colorado Springs-Pueblo, CO 20 Sacramento-Stockton-Modesto, CA 55 Fresno-Visalia, CA 90 Cedar Rapids-Waterloo-Iowa City-Dubuque, IA 21 St. Louis, MO 56 Little Rock-Pine Bluff, AR 91 El Paso, TX 22 Portland, OR 57 Richmond-Petersburg, VA 92 Savannah, GA 23 Pittsburgh, PA 58 Albany-Schenectady-Troy, NY 93 Jackson, MS 24 Raleigh-Durham, NC 59 Tulsa, OK 94 Baton Rouge, LA 25 Charlotte, NC 60 Mobile, AL-Pensacola, FL 95 South Bend-Elkhart, IN 26 Indianapolis, IN 61 Knoxville, TN 96 Tri-Cities, TN-VA 27 Baltimore, MD 62 Ft. Myers-Naples, FL 97 Burlington, VT-Plattsburgh, NY 28 San Diego, CA 63 Dayton, OH 98 Charleston, SC 29 Nashville, TN 64 Lexington, KY 99 Davenport, IA-Rock Island-Moline, IL 30 Hartford-New Haven, CT 65 Charleston-Huntington, WV 100 Greenville-New Bern-Washington, NC 31 Kansas City, KS-MO 66 Wichita - Hutchinson, KS 101 Ft. Smith-Fayetteville-Springdale-Rogers, AR 32 Columbus, OH 67 Flint-Saginaw-Bay City, MI 102 Johnstown-Altoona, PA 33 Salt Lake City, UT 68 Roanoke-Lynchburg, VA 103 Myrtle Beach-Florence, SC 34 Milwaukee, WI 69 Green Bay-Appleton, WI 104 Evansville, IN 35 Cincinnati, OH 70 Tucson, AZ 105 Lincoln-Hastings-Kearney, NE 106 Tallahassee, FL-Thomasville, GA 142 Lubbock, TX 177 Watertown, NY 107 Tyler-Longview, TX 143 Wichita Falls, TX -Lawton, OK 178 Harrisonburg, VA 108 Reno, NV 144 Salisbury, MD 179 Alexandria, LA 109 Ft. Wayne, IN 145 Anchorage, AK 180 Marquette, MI 110 Youngstown, OH 146 Erie, PA 181 Jonesboro, AR 111 Boise, ID 147 Sioux City, IA 182 Bowling Green, KY 112 Sioux Falls-Mitchell, SD 148 Palm Springs, CA 183 Charlottesville, VA 113 Augusta, GA 149 Joplin, MO-Pittsburg, KS 184 Laredo, TX 114 Springfi eld-Holyoke, MA 150 Albany, GA 185 Grand Junction-Montrose, CO 115 Lansing, MI 151 Minot-Bismarck-Dickinson, ND 186 Meridian, MS 116 Peoria-Bloomington, IL 152 Odessa-Midland, TX 187 Butte-Bozeman, MT 117 Fargo-Valley City, ND 153 Rochester, MN-Mason City, IA-Austin, MN 188 Greenwood-Greenville, MS 118 Montgomery, AL 154 Terre Haute, IN 189 Lafayette, IN 119 Traverse City-Cadillac, MI 155 Bangor, ME 190 Great Falls, MT 120 Macon, GA 156 Bluefi eld-Beckley-Oak Hill, WV 191 Twin Falls, ID 121 Eugene, OR 157 Binghamton, NY 192 Bend, OR 122 Santa Barbara-Santa Maria-San Luis Obispo, CA 158 Wheeling, WV- Steubenville, OH 193 Parkersburg, WV 123 Yakima-Pasco-Richland-Kennewick, WA 159 Panama City, FL 194 Eureka, CA 124 Lafayette, LA 160 Biloxi-Gulfport, MS 195 Cheyenne, WY-Scottsbluff, NE 125 Monterey-Salinas, CA 161 Sherman, TX - Ada, OK 196 San Angelo, TX 126 Bakersfi eld, CA 162 Idaho Falls-Pocatello, ID 197 Casper-Riverton, WY 127 Columbus, GA 163 Gainesville, FL 198 Mankato, MN 128 La Crosse-Eau Claire, WI 164 Abilene-Sweetwater, TX 199 Lima, OH 129 Corpus Christi, TX 165 Yuma, AZ-El Centro, CA 200 Ottumwa, IA-Kirksville, MO 130 Amarillo, TX 166 Missoula, MT 201 St. Joseph, MO 131 Chico-Redding, CA 167 Hattiesburg-Laurel, MS 202 Fairbanks, AK 132 Wilmington, NC 168 Billings, MT 203 Zanesville, OH 133 Columbus-Tupelo-West Point, MS 169 Dothan, AL 204 Victoria, TX 134 Wausau-Rhinelander, WI 170 Clarksburg-Weston, WV 205 Presque Isle, ME 135 Rockford, IL 171 Quincy, IL-Hannibal, MO-Keokuk, IA 206 Helena, MT 136 Topeka, KS 172 Utica, NY 207 Juneau, AK 137 Monroe, LA-El Dorado, AR 173 Rapid City, SD 208 Alpena, MI 138 Columbia-Jefferson City, MO 174 Elmira, NY 209 North Platte, NE 139 Duluth, MN-Superior, WI 175 Lake Charles, LA 210 Glendive, MT 140 Medford-Klamath Falls, OR 176 Jackson, TN PR San Juan, PR 141 Beaumont-Port Arthur, TX

Investing in Television® Market Report 2013, 2nd Edition Rank Listing of Markets BIA /Kelsey • Phone: 703-818-2425 • www.biakelsey.comwww.biakelsey.com Introduction National Indices

Welcome to BIA’s Investing in Television® 2013 Market Report. This is the premiere Comparison of various market, owner and station factors with the entire country pro- market-by-market investment information guide on the television industry. Based on vides useful indicators of its potential. Below are several nationwide benchmarks: an annual cycle, it is published quarterly and profi les all 210 U.S. television markets, as well as Puerto Rico. Of the 210 markets profi led in this publication, all 210 markets have 2012 market 2012 National Income gross revenue estimates totalling $20.1 billion. The combined estimated population Per Capita ...... $36,761 of these 210 markets is 314.6 million which represents 99.97% of the total U.S. popu- National Totals Median Household ...... $70,897 lation in 2012. Combined estimated 2012 retail sales for these markets are $4.141 2012 Population1 ...... 314,646,725 Average Household ...... $96,454 billion which is 99.98% of estimated total retail expenditures for the country. As of 2012 Retail Sales1 ...... $4,141,632,517,941 the end of December 2012, there were 1,386 full-power commercial stations licensed 2012 BIA’s Estimated Gross to operate in the U.S. Over 88% of these stations are profi led with revenue estimates Television Advertising 2012 National in these 210 markets. Revenues ...... $20,262,800,000 Television Households as Ethnic Breakdown Asian ...... 5.4% Notes for 2013 of Jan 1 2013 ...... 116,533,000 2012 Total Personal Income1 ...... $11,566,660,746,218 Black ...... 12.8 White ...... 63.9 We have included market level estimates of total television online advertising revenues Spanish-Speaking ...... 17.0 from 2012 through 2017. National Growth Rates BIA now profi les only the digital signals of full power television stations and the analog signals of Class A and LPTV stations that are still operating in analog. Additionally, ‘07-’12 ‘12-’17 Population (POP) 0.9% ...... 1.0% we have listed the Digital Multicast station signals at the bottom of the Competitive Households (HH) 0.7 ...... 1.4 Overview. For markets with a large number of stations, the Multicast Signals are Retail Sales (RS) 0.1 ...... 1.9 listed separately following the San Juan market and just before the Cross Market Total Personal Income (TPI) 0.5 ...... 2.0 Section.

Market Reports National Revenue Ratio Averages 2007 2012 2017 Revenue/$1,000 Each Market is presented in three main sections: Retail Sales ...... $5.17 ...... $4.86 ...... $4.79 Revenue Overview Analysis — looks at the historic and projected growth of the market’s Revenue/Capita ...... $70.83 .....$63.91 ..... $65.77 demographic and economic statistics and estimated revenue pie chart for group owners in the market and market revenue growth chart. Market Overview — provides historical overview of the market as well as BIA’s esti- 1 per Woods & Poole Economics, Inc. mated television advertising revenues. Competitive Overview — profi les the television stations in the local television market. Why Market Rank Order? Organizing in this manner allows the sophisticated fi nancial analyst the ease of performing comparable sales analyses and similar-sized market comparisons. Otherwise, signifi cant page fl ipping would be involved. An alphabeti- cal listing of the markets, followed by a rank listing, can be found in the front of the book. Investing In Television ® 2013 Copyright © BIA Advisory Services, LLC. Unauthorized distribution prohibited. For permission: 703-818-2425 or [email protected] Copyrights

BIA/Kelsey Woods & Poole Economics, Inc.

Copyright © 2013 by BIA Advisory Services, LLC (d/b/a BIA/Kelsey). The The market demographic and economic data in this publication is based on 2012 contents are the property of BIA/Kelsey and are protected by copyright and copyright data prepared by Woods & Poole Economics, Inc. Any questions or other intellectual property laws. No part of this material may be reproduced comments regarding these data should be directed to: or transmitted by any means, electronic or mechanical, including photocopy- ing or recording in an information storage and retrieval system, unless there Woods & Poole Economics, Inc. is written permission from BIA/Kelsey or a license agreement with them for 4910 Massachusetts Avenue NW Ste 208 such use. All rights reserved. Washington, DC 20016-4368 Tel: 800-786-1915 Information in this publication is solely for the internal use of clients of BIA/ www.woodsandpoole.com Kelsey and may not be distributed to third parties. The information is not for use as the basis for private offering, in a prospectus, in a valuation or ap- praisal report, or for developing derivative works distributed to third parties without written permission from BIA/Kelsey. Permission is considered upon request and the submittal of an indemnifi cation and release form. Licensing Disclaimer Notice agreements are available for expanded use or external distribution. For further Every effort has been made to ensure the accuracy of the information in information, please call 703-818-2425 or email [email protected]. this publication. Any errors detected or called to our attention, which in our opinion are material, will be corrected in future releases. BIA/Kelsey BIA ADVISORY SERVICES, BIA FINANCIAL NETWORK, BIAfn, INVESTING assumes no liability for any errors or omissions in the information, and IN RADIO, INVESTING IN TELEVISION, INVESTING IN NEWSPAPER, RADIO YEARBOOK, TELEVISION YEARBOOK, and MEDIA ACCESS PRO are trade- shall not be liable for any injuries or damages (including consequential) marks of BIA Financial Network, Inc. which might result from its use.

Warning: COPYRIGHT VIOLATIONS WILL BE PROSECUTED. BIA/Kelsey Special Note for Puerto Rico Market shares 10% of the net proceeds of settlements and jury awards with individuals Some demographic information for Puerto Rico is provided by the Puerto who provide essential evidence of illegal copying or electronic distribution. Rico Planning Board. BIA/Kelsey has estimated some projected demograph- To report violations, please contact 703-818-2425 or email violations@bia. ic fi gures using historic growth rates. com. Questions about the Investing in Television® 2013 Market Report or other BIA/ Kelsey publications or services should be directed to: BIA/Kelsey• 15120 Enterprise Ct., Chantilly, Virginia 20151-1217 Phone: (703) 818-2425 • E-mail: [email protected]

Investing In Television ® 2013 Copyright © BIA Advisory Services, LLC. Unauthorized distribution prohibited. For permission: 703-818-2425 or [email protected] 1 Des Moines-Ames, IA Revenue Overview TV Mkt Rank: 72 BIA Revenue Rank: 57

Demographic and Economic Overview Demographic Breakdown3 (000s, except Retail Sales and Total Pers. Inc. in $000,000s) Growth Growth Total Under 12 12 - 17 18 - 24 25 - 34 35 - 44 45 - 54 Over 55 2007 2012 Rate 2012 2017 Rate Men (000) 554.6 93.1 45.6 59.1 76.2 68.6 75.9 136.2 Population 1,075.4 1,117.0 0.8% 1,117.0 1,154.0 0.7% Women (000) 562.4 88.6 42.9 54.1 73.8 67.1 76.2 159.6 436.3 448.3 0.5% 448.3 472.1 1.0% Households Total 1,117.0 181.7 88.5 113.2 150.0 135.7 152.1 295.8 Retail Sales 14,004.9 14,028.5 0.0% 14,028.5 15,158.8 1.6% Tot. Pers. Inc. 38,504.3 41,546.5 1.5% 41,546.5 45,634.6 1.9% Percentage 100.0% 16.3% 7.9% 10.1% 13.4% 12.1% 13.6% 26.5%

Pop Rank # 74 Estimated Breakouts TV Households 433 White 87.8% Avg Household $ 92,663 2007 2012 2017 HH Rank # 73 % Network 0.3% Revenue/Retail Sales $4.83/1,000 $6.19/1,000 $5.39/1,000 2 TV Mkt Counties 35 Black 3.6% Per Capita $ 37,187 RS Rank # 73 % Natl/Regl 50.5% Revenue/Capita $62.86 $77.71 $70.80 Asian 2.6% Hispanic Origin 5.8% TPI Rank # 64 % Local 49.2%

4 5

Sample Revenue Overview

Investing In Television® 2013 2nd Edition Copyright © 2013 BIA Advisory Services, LLC. Unauthorized distribution prohibited. (703) 818-2425

Investing In Television ® 2013 Copyright © BIA Advisory Services, LLC. Unauthorized distribution prohibited. For permission: 703-818-2425 or [email protected] Market Revenue Overview

1 Historic and Projected Market Indicators 3 Demographic Breakdown This overview examines historical and projected growth trends for the follow- This breakdown summarizes the population dispersion by age and gender. The data ing four indicators. The growth rate is the compound average annual rate for the is presented in thousands for each category grouping and each age group is listed as periods indicated. For comparison of each market’s growth rates with the entire a percentage of the total population. country, see the tables on page 6. This information is licensed from Experian/Ap- plied Geographic Solutions and is reprinted herein with their permission. 4 Group Owner Revenue Shares TV Market Population: Presented in thousands (000s) of people. A pie chart shows the percentage of total estimated market revenues for each of the TV Market Households (HH): Presented in thousands (000s) of households. major owners in the market. The percentages include revenues from stations oper- TV Market Retail Sales (RS): Presented in hundreds of thousands ($000,000s) of ated by these groups under a Local Marketing Agreement. These are listed under dollars. the Parent Company name. TV Market Total Personal Income (TPI): Total income available in the market. Presented in hundreds of thousands ($000,000s) of dollars. 5 Estimated Market Revenues This is a graphic representation of the Estimates Historic and Projected Market Rev- 2 Market Rankings and Statistics enues. This gives a trend of revenues for the prior fi ve years and an estimate for the next Pop Rank: The market’s ranking by total 2012 population. fi ve years. HH Rank: The market’s ranking by total 2012 households. RS Rank: The market’s ranking by total 2012 retail sales. TPI Rank: The market’s ranking by total 2012 Total Personal Income available in the market. TV Households: The number of households in the market presented in thousands (000s). TV MKT Counties: The number of counties covered by the TV Market. White: The percentage of Caucasian population in the market. Black: The percentage of African-American population in the market. Asian: The percentage of Asian population in the market. Hispanic Origin: The percentage of Hispanic residents in the market. Hispanic is defi ned as being of Hispanic origin or descent. Avg Household: The average 2012 household income in the market. Per Capita: The average 2012 income per person in the market. Estimated Breakouts: Indicates source of market revenues by percentage of Net- work, National/Regional and Local Revenues.

Investing In Television ® 2013 Copyright © BIA Advisory Services, LLC. Unauthorized distribution prohibited. For permission: 703-818-2425 or [email protected] Des Moines-Ames, IA Market Overview TV Mkt Rank: 72 6 COMMERCIAL6 STATIONS Market Television Financials 7 Mkt # VHF # UHF # Network # Ind # Multicast # PTV (all figures in 000's, except percentages and7 ratios) Year Rank Stations Stations Affiliates Stations Signals Stations OVER-THE-AIR 2007 2008 2009 2010 2011 2012 ∆ 07 - 12 2011 73 3 6 5 4 10 3 ESTIMATED $67,600 $62,500 $52,500 $63,000 $61,600 $86,800 5.1% 2012 72 3 6 5 4 13 3 GROSS Online/Interactive Gross Revenue REVENUES ∆ 11 - 12 2013 2014 2015 2016 2017 ∆ 12 - 17 2012 2013 2014 2015 2016 2017 ∆ 12 - 17 40.9% $73,800 $77,100 $75,200 $84,200 $81,700 -1.2% $2,700 $3,310 $3,910 $4,600 $5,160 $5,900 16.9%

Des Moines-Ames, IA Competitive Overview 12 13 14 Visual L Sales Est '12 Est.'12 City Of Power M 9 10 Year Date Price Revenue '12 Power '11 '10 '09 '08 Calls License Ch (kW) HAATA Aff Rep Owner Std Acq'd (000) 11 (000) 1/ Rev. Ratio Rev. Rev. Rev. Rev. WOI-DT Ames 5 14 1,857 ABC Contl Citadel Comm Co Ltd 50 9212 12,700 10,000 11.5% 0.74 11.6% 12.9% 12.4% 12.4% KCCI Des Moines 8 28 1,959 CBS Eagle 55 9811 g 34,600 39.9% 1.03 39.2% 38.5% 38.1% 35.9% WHO-DT Des Moines 13 37 1,969 NBC Mllnm Local TV 54 0705 g 25,375 29.2% 0.99 28.7% 28.1% 26.9% 30.3% KDSM-TV Des Moines 16 1,000 2,008 FOX Mllnm Sinclair Bcst Group 83 9608 g 10,325 11.9% 1.21 14.3% 14.1% 15.8% 14.7% KDMI Des Moines 8 19 839 2,001 Ths TelRp Pappas Telecasting 06 0512 1,000 250 0.3% 0.29 0.3% 0.3% 0.3% 0.2% KCWI-TV Ames 23 246 2,001 CW TelRp Pappas Telecasting 01 4,650 5.4% 3.03 5.4% 5.4% 5.9% 6.1% KFPX-TV Newton 39 116 505 ION InHse Networks 99 0801 g 325 0.4% 0.47 0.4% 0.4% 0.4% 0.4% WBXF-CA Des Moines ^4 1 409 DRK L4 Media Group 88 0509 g KDAO-LP Marshalltown ^45 3 32 Am1 MTN Broadcasting Inc 00 *KDIN-TV Des Moines 11 23 1,969 PBS Iowa Public Bcstg Bd 59 *KTIN Fort Dodge 25 600 1,165 PBS Iowa Public Bcstg Bd 77 *KEFB Ames 34 37 505 TBN Family Educ Bcstg 08

Digital Multicast Signals Visual Est '12 City Of Power Revenue '12 Calls License Ch Sample(kW) HAAT Aff Rep OwnerMarket Overview(000)1/ Rev. WOI-D2 Ames 15 5.2 14 1,857 RTV Contl Citadel Comm Co Ltd 75 0.1% KCCI-D2 Des Moines 8.2 28 1,959 Me Eagle Hearst Television 1,200 1.4% KDIN-D2 Des Moines 11.2 23 1,969 CRT Iowa Public Bcstg Bd KDIN-D3 Des Moines 11.3 23 1,969 WLD Iowa Public Bcstg Bd WHO-D2 Des Moines 13.2 37 1,969 Wx Mllnm Local TV WHO-D3 Des Moines 13.3 37 1,969 Ant Mllnm Local TV 6 KDSM-D2 Des Moines 16.2 1,000 2,008 Col Mllnm Sinclair Bcst Group #Network Affi liates: The number of stations that operated in the market under an KDSM-D3 Des Moines 16.3 Market 1,000 Trend 2,008 AnalysisTCN Mllnm Sinclair Bcst Group ThisKTIN-D2 section isFort a Dodge two-year historical25.2 600overview 1,165 highlightingCRT technicalIowa Public factors Bcstg Bd that agreement to rebroadcast a signifi cant portion (more than ten hours) of a national refl ectKTIN-D3 trendsFort in Dodgethe specifi 25.3c market. 600 1,165 WLD Iowa Public Bcstg Bd network’s programming (ABC, CBS, FOX, NBC, CW, My). KFPX-D2 Newton 39.2 116 505 qbo InHse ION Media Networks #Ind Stations: The number of commercial television stations in the market that were not TV KFPX-D3Market Rank:Newton The rank39.3 is based 116 on the 505 numberILF of InHse televisionION Media households Networks in the market.KFPX-D4 Newton 39.4 116 505 SHP InHse ION Media Networks affi liated with one of the national network affi liates.

#VHFAllocations: Stations: DTV Ch The 26, Desnumber Moines of stations, not including satellite operations, that broadcast #PTV Stations: The number of public broadcast (non-commercial) television stations from the Very High Frequency channel range (2-13). in the market. #UHF Stations: The number of stations, not including satellite operations, that broadcast Indicates from a change the since Ultra last High edition Frequency channel range (14-69). Following is the Online/Interactive Gross Revenue estimates for the market. This 1/ See introduction section for interpretation of revenue estimates. ^ Indicates Analog Channelincludes 2012 estimates plus projections through 2017. Investing In Television® 2013 2nd Edition Copyright © 2013 BIA Advisory Services, LLC. Unauthorized distribution prohibited. (703) 818-2425 TV Mkt Rank: 72 Investing In Television ® 2013 Copyright © BIA Advisory Services, LLC. Unauthorized distribution prohibited. For permission: 703-818-2425 or [email protected] 7 Market Television Financials 9 Affi liation and Representation Estimated Historic, Present and Projected Revenues: These are BIA/Kelsey’s estimates Aff: The national network with which the station has an agreement to rebroadcast of the gross advertising revenues (presented in thousands [$000s]) for this market for a signifi cant portion (ten-plus hours) of the network’s programming (see Keys & the period 2007 to 2017. The revenue estimates represent total time sales including Codes). local, regional and national spot sales, plus political and network compensation. The Rep: The abbreviated name for the fi rm that represents the station for the national sales fi gures do not include trade and barter, production or promotional revenues. of its advertising. See Keys & Codes for an explanation of all abbreviations. Gross revenue estimates are based on several factors including retail sales growth, 10 Ownership historical revenue trends, market development, new station entries and regional Ownership changes and information are gleaned from announcements in the trade trends. BIA/Kelsey’s direct consultation with and survey responses from station publications, press releases, market contacts, FCC fi lings and other sources. operators and group owners in most markets yield additional data. Owner: The most recent owner or proposed purchaser of the station. A proposed purchaser Historic and Projected Growth Rates: We have also included the compound average is indicated by a “p” following the Date Acq’d. annual rate for the periods indicated: Historically for the last fi ve years (2007-2012); Year Std: The year the station fi rst went on the air. Last year (2010-2012); and projected for the next fi ve years (2012-2017). Date Acq’d: The date (Year Month) the station was acquired by the most recent or pro- Confi dence Rating: These stars indicate BIA/Kelsey’s confi dence level for posed purchaser. the estimated revenues. Three stars are awarded for a high level of confi dence (several Sales Price: Presented in thousands, this is the price paid for the station. To the right of reliable outside sources); two stars for moderate confi dence (limited outside sources); the price you may encounter a code that signifi es the type of transaction (See Keys & and one star for cautious confi dence (estimated with our own resources). Codes). NOTE: Because the actual sales price of a station or group may vary from the Estimated Revenue Breakout: Percentage of the market’s revenues that are derived from reported price, caution should be exercised with respect to the use of these data. network compensation, and national/regional or local billing. 11 Estimated Station Revenues Ratios: Television market revenue to retail sales and revenue per capita are presented BIA/Kelsey estimates gross revenues for the leading stations in most markets. BIA/ for three periods—historic, present and projected. Kelsey’s revenue estimates do not include trade/barter, production or promotion rev- 8 Station Technical Attributes enues. We utilize direct mail surveys, telemarketing, market contacts and computer Technical information is secured from the FCC through Actions and fi lings for con- modeling to generate these estimates. Despite this effort, we must reiterate that these struction permits. are just estimates. We view these estimates, however, as an important element to the “•”: A bullet to the left of the station’s listing indicates that there has been a change book and encourage station operators and owners to participate in our surveys. to this station since the last edition was printed. It could be any combination of new 12 Estimated Market Revenue Share call sign, technical upgrade, new LMA or change in ownership or affi liation.. Estimated station revenues shown as a percentage of total market revenues for the Call Letters: Listed in order of commercial, satellite, low power, local cable channel most recent year profi led. and then by public broadcast stations in order of channel, these are the licensed call 13 Estimated Power Ratio letters of the television stations licensed to the market. In addition to station revenue estimates, we have also calculated power ratios — the : The city from which the is licensed to operate as des- ratio of revenue share to audience share. This was calculated by determining the es- ignated by the FCC. timated revenue share for the station (station revenues divided by market revenues) Ch: The number of the digital channel for all full power staions. Analog channels for and dividing this by BIA/Kelsey’s estimated local commercial share. A power ratio some Class A and Low Power stations are indicated by a preceding ^. greater than 1 means that a station is receiving a percentage share of the market Visual Power (kW): The power in kilowatts at which the station transmits its signal. A revenues greater than its local commercial share of the viewing audience. “cp” indicated next to the station’s power signifi es that a construction permit has been 14 Historic Revenue Trends granted by the FCC to change some aspect of the station’s technical operations. Estimated station revenues shown as percentage of total market revenues over the Height above average terrain of the station’s center of radiation (antenna) with HAAT: previous four years. respect to its surrounding terrain in feet. LMA: Local Marketing Agreement. The letter indicated in this column coincides 15 Digital Multicast Signals with the other stations in the market that operate with this one under such an agree- The multicast signals of digital commercial stations. Multicast signals in large ment. markets are listed after the San Juan market near the end of the book.

Investing In Television ® 2013 Copyright © BIA Advisory Services, LLC. Unauthorized distribution prohibited. For permission: 703-818-2425 or [email protected] Keys and Codes General Construction Permit

ADI Aggregated Disposable Income cp A “cp” following the Power column indicates that the station has a CA Class A - an upgrade for Low Power Television constrution permit to change channel, power, or its antenna height HAAT Height Above Average Terrain (shown in feet) to upgrade its technical facilities. The station is also authorized to LC Local Cable Channel operate at the indicated power or height for testing purposes. LD Low Power Digital LMA Operates under Local Marketing Agreement Station Representatives (Rep) LP Low Power ABC ABC Television Sales RE Retail Expenditures TVHH Estimated Television Households as of 1/1/2012 Asian Asian Marketing & Media Services UHF Very High Frequency - stations channel 13 and below AZT Azteca America TV Spot Sales * Denotes a non-commercial station CBSTV CBS Television Stations Contl Continental Television Sales Codes After Sales Price Eagle Eagle TV Sales FOX Fox Station Sales + Sales price is amount listed plus notes, stock, or debt. HRP Harrington, Righter & Parsons, Inc. al Station sold for assumption of liabilities. InHse In House c# Indicates parent and satellite stations in the market. KatzT Katz Direct Television Sales cp Indicates sale of a station construction permit. Libmn Liberman Television Sales d Distress sale. MMT MMT Sales, Inc. dn Donation. e Estimated sales price. Mllnm Millenium Sales & Marketing g Group sale. NBC NBC National Sales g# Parent/satellite of a group sale. PMC Petry Media Corporation na Not available Rosln Roslin Television Sales nc No cash consideration. Telmn p “p” after the date acquired (Date Acq’d) indicates a proposed sale. TelRp TeleRep st Stock transfer. UNI sw Station swap. Young Adam Young, Inc.

Investing In Television ® 2013 Copyright © BIA Advisory Services, LLC. Unauthorized distribution prohibited. For permission: 703-818-2425 or [email protected] Station Affi liation

ABC ABC ILF ION Life Network REL Religious AcW AccuWeather IND Independent RT1 RTV, TUFF, AMG Access Media Group INS Independent-Spanish RTV Am1 America One ION ION Media Network SCH SCHOLAR - Education Program Ant Antenna TV JCTV JCTV Network ming AZT Azteca America KDS PBS Kids SHP Shopping Networks BNC Bounce TV KOR Korean Programming SML Smile of a Child CBS CBS LAT LATV - Bilingual Spanish/English SPT CGN Church Global Network TV Network SWx Sports & Weather CHC The Church Channel LWN Live Well Network TBN Trinity Broadcasting Network CNA CBS, NBC, ABC, FOX. Any combi MdF MundoFox TBS Turner Broadcasting System nation of the fi rst letters of these net Me Me TV TCN works means dual affi liation; i.e. Me2 Me Too TCT Total Christian Television C&A would mean CBS and ABC. MFT My Family TV TEL Telemundo CNI Christian Network, Inc. MGA Mega TV - Spanish TEX Telemundo Exitos TV Col The Cool TV Network MR1 My, Retro, America One TEV Televisa Coz Cozi TV MRT My and Retro Television Network Ths This TV CRT Create MTh My and This TV tr3 MTV tr3s CTV Network MXC Network TUF TUFF TV Network CW CW Television Network My My Network TV UNI Univision CWM CW and My Network NBC NBC UnM UniMas DRK Dark NOA Not On Air — Station under con USP Untamed Sports EDU Educational struction VME V-me/Viva ENL Spanish Nws All News VOZ Voz Y Vision EST Estrella TV PBJ PBJ Network VTM Vietnamese Programming EXP PBS Explorer PBS Public Broadcasting System WDV WorldView Network F&M FOX and My Network PCH Punch TV WLD World FOX FOX PUB Public Television Wx Weather HSN Network qbo ION Network WxN Weather & News HTV Hispanic Television Network

Investing In Television ® 2013 Copyright © BIA Advisory Services, LLC. Unauthorized distribution prohibited. For permission: 703-818-2425 or [email protected] Television Industry Trends

Investing In Television® Market Report, 2nd Edition BIA/Kelsey

• Number and Dollar Value of Television Stations sold: January – May, 2012 & 2013

• Top Ten Television Station Deals: January – May 2013

• Historic TV Advertising Growth Markets – Top 10: 2007 - 2012

• Future TV Advertising Growth Markets – Top 10: 2012 - 2017

• TV Adv. Revs./Retail Sales Averages by Market Size Range

• TV Adv. Revs. Per Capita Averages by Market Size Range

Proprietary and Confidential. Copyright © 2013 BIA/Kelsey. All Rights Reserved. Television Station Industry Snapshot: January – May 2013

• Total Number of Television Stations Sold:

– 85 (+193% over January – May 2012)

• Total Value of Television Stations Sold:

– $967 million (+110% over January – May 2012)

• 4 television markets in Wisconsin in top ten fastest growth markets for 2007 – 2012

• 5 television markets in Texas included in top ten fastest growth markets for 2012 – 2017

• Television Advertising Revenues per Retail Sales decreases as you move to smaller markets but evens out in the smallest markets

• Television Advertising Revenue per Capita also decreases as you move to smaller markets but evens out in the smallest markets

Proprietary and Confidential. Copyright © 2013 BIA/Kelsey. All Rights Reserved. Number of Television Stations Sold: January – May, 2012 & 2013

50

45 43 2012�� 2013:�+193%

40

35 2012 2013 30

25 21 20 18 16 15

10 4 5 5 3 2 2 0 0 January February March April May

Proprietary and Confidential. Copyright © 2013 BIA/Kelsey. All Rights Reserved. $ Value of Television Stations Sold: January – May, 2012 & 2013

$600 558.3 2012�� 2013:�+110%

$500 2012 2013

$400 352.0 314.5 $300 (Millions)

$200

$100 71.2 62.6 44.9 21.8 0.0 1.4 1.1 $0 January February March April May

Proprietary and Confidential. Copyright © 2013 BIA/Kelsey. All Rights Reserved. Top Ten Television Station Deals: January – May 2013

Month # of Price (000s) Buyer Seller Acquired Stations

April 13 $373,300

February 18 $370,000 Sinclair Broadcast Group

May 8 $270,000 Nexstar Broadcasting ComCorp of America February 4 $99,000 Sinclair Broadcast Group February 11/ $59,225 NRJ TV Local Media TV May 2 $27,000 ComCorp of America February 1 $26,500 Nexstar Broadcasting February 1 $25,000 Sinclair Broadcast Group February 1 $22,000 Cunningham Broadcasting Sinclair Broadcast Group March 11/ $20,000 LocusPoint Networks Viswanath, Deepak

1/ Class A

Proprietary and Confidential. Copyright © 2013 BIA/Kelsey. All Rights Reserved. Historic Television Advertising Growth Markets – Top Ten Compounded Annual Growth Rates:

2007 - 2012

Compounded Mkt. Rank Market Annual Growth Rate

134 Wausau-Rhinelander, WI 13.9

128 La Crosse-Eau Claire, WI 11.9 68 Roanoke-Lynchburg, VA 8.6 170 Clarksburg-Weston, WV 7.9 85 Madison, WI 7.8 99 Davenport, IA-Rock Island-Moline, IL 7.5 76 Toledo, OH 7.3 185 Grand Junction-Montrose, CO 6.6 69 Green Bay-Appleton, WI 6.5 138 Columbia-Jefferson City, MO 6.3

Proprietary and Confidential. Copyright © 2013 BIA/Kelsey. All Rights Reserved. Preview of the Next Edition

Investing In Television® Market Report, 3rd Edition Television Industry Trends

• Top Ten Television Station Deals: June – August 2013

• Number and Dollar Value of Television Stations Sold: June – August 2012 & 2013

• Top Ten Markets – Revenues per Retail Sales - 2012

• Top Ten Markets – Revenues per TV Household - 2012

Proprietary and Confidential. Copyright © 2013 BIA/Kelsey. All Rights Reserved.