Today I am pleased to announce that We Will be launching a new Radio Station this fall – Sports Radio92. QFM.We have an exciting opportunity to reach a considerable group of listeners who are extremelypassionate when it comes to our area sports teams, and we're looking fonNard to creating aRadio Station with its own unique personality highlighted by expert analysis and opinions, coupled withthe right mix of entertainment, and audience interaction. Sports Radio 92.9 Will have a longroster of personalities including names familiar in sports and pop culture1 as well as significantcontributions from the everyday sports fan.Additionally, there will be a variety of cross-promotional marketing initiatives with V103 that willfurther bring the Radio Station to life.As you know, CBS RADIO is among the pioneers of the format and has experienced atremendous amount of success with sports programming. We believe we can share in thosesame fortunes with innovative content and great execution. The first step we need to take inrealizing our fate is hiring a program director with a Winning background and expertise indeveloping these types of properties. We have found that in Terry Foxx who most recently hasbeen the Program Director of KDKA-FM “The Fan” in Pittsburgh.Terry was instrumental in the creation of “The Fan” and building it into the premier sports Radio Station in the city. His extensive experience includes stints with ESPN Radio in Bristol Ct, and ABCRadio Networks. We've had many conversations about the potential of Sports Radio 92.9 andhis vision is exactly what We need to win in this market. Working with him will be inspiring andl'm confident you'll also be motivated by his Work ethic and energetic personality.The process of hiring talent has already begun and we're busy building a website, developingmobile apps and creating partnerships with local businesses and sports programs, but we havea lot more work to do between now and the Radio Station ‘s debut. ln the meantime, we remainfocused on delivering a great music experience on davefm and will take care to ensure thetransition goes smoothly. I can't thank the staff at dave enough for their contributions over thepast eight years.

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