THE PROPOSED SALE OF KADN(TV) IS PURSUANT TO THE EXERCISE OF AN OPTION TO PURCHASE THE STATION GRANTED WITHIN A TIME BROKERAGE AGREEMENT ENTERED INTO BETWEEN THE ASSIGNOR AND THE IMMEDIATE PARENT COMPANY OF THE PROPOSED ASSIGNEE. ATTACHED HERETO IS A COPY OF THE TIME BROKERAGE AGREEMENT,WHICH INCLUDES THE OPTION TOGETHER WITH THE FORM OF THE ASSET PURCHASE AGREEMENT TO BE ENTERED INTO BY THE PARTIES. THAT FORM AGREEMENT SPECIFIES THE BASIC TERMS OF THE AGREEMENT BETWEEN THE PARTIES. DUE TO THE LAPSE OF TIME, HOWEVER, IT HAS BEEN NECESSARY TO UPDATE THE ASSET PURCHASE AGREEMENT AND ATTACHED SCHEDULES. THE ASSET PURCHASE AGREEMENT HAS NOT YET BEEN FULLY EXECUTED AT THIS TIME. ONCE THE AGREEMENT IS FULLY UPDATED AND EXECUTED, A COPY WILL BE PROVIDED.