Network TV Scatter vs. Spot TV Cost Comparison A25-54 CPMs Q Q TVB Analysis of SQAD National and Local Market Cost Estimate Data 1 Updated with 2Q 2013 Data

Scatter Network/Spot Variables Quarter Daypart Demo Q-to-Q and Y-to-Y Changes Volatility Political 2

Scatter Network/Spot Consistencies Network TSA Viewers/Spot TV DMA Viewers SQAD 3 rd Party Data Media Market Guide National Report (Issue Date: February 22, 2013) SQAD DATAVue Product Version (Average levels used from March, June, September & December data / final quarter data. Q113 & Q213 uses February13 data) 3

Early Morning A25-54 CPM Network Scatter vs. Spot 4

Early News A25-54 CPM Network Scatter vs. Spot 5

Primetime A25-54 CPM Network Scatter vs. Spot 6

Primetime/Prime Access A25-54 CPM Network Scatter vs. Spot 7

Late Night A25-54 CPM Network Scatter vs. Spot

Late Night/Late News A25-54 CPM Network Scatter vs. Spot 9

Cable News vs. Spot Early Morning A25-54 CPM 10

Syndication Scatter vs. Spot Access A25-54 CPM 11

2nd Quarter 2013 Network Scatter vs. Spot TV CPM A25-54 Network-ScatterSpot DMA Early Morning$23.78$16.20 Early News$25.75$23.12 Prime$50.20$50.39 Late Night$37.19$19.19 Total$136.92$

Network Scatter vs. Spot TV CPM A nd Qtr %+26% +94%+94% -0.4%-0.4% +11%+11% +47%+47% Network Premium

2 nd Quarter 2013 Spot TV CPM Projections vs. Network Scatter SQAD A25-54 DMA CPM Basis 14 MarketsEarly MorningEarly NewsPrimeLate Night 1-10$17.54$23.60$67.09$ $17.38$23.90$63.89$ $16.82$23.07$59.69$ $16.04$22.17$54.39$ $15.68$21.71$50.97$ $15.57$21.65$49.98$ $16.20$23.12$50.39$19.19 Network-Scatter$23.48$25.75$50.20$37.19

A25-54 CPM Change Q vs. Q NetworkSpot DMA Early Morning+3%-4% Early News+2%-1% Prime+4%+3% Late Night+5%-1% 15

A25-54 CPM Change Q vs. Q NetworkSpot DMA Early Morning+26%+8% Early News+33%+13% Prime+39%+12% Late Night+30%+9%