TVB Analysis of SQAD National and Local Market Cost Estimate Data Updated with Q2 2012 Data Network TV Scatter vs. Spot TV Cost Comparison A25-54 CPMs Q1 2009-Q2 2012 TVB Analysis of SQAD National and Local Market Cost Estimate Data

“Why should I use Spot TV when I can buy Network for the same cost as the top 20 markets and get the other 190 for free?”

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

Scatter Network/Spot Consistencies TSA Viewers/DMA Viewers SQAD 3rd Party Data Media Market Guide National Report Media Market Guide Local Edition

Network Scatter vs. Spot TV CPM A25-54 14-Quarter Average Cost Comparisons – Q1/09-Q2/12

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

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

Primetime A25-54 CPM — Network Scatter vs. Spot

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

Late Night A25-54 CPM — Network Scatter vs. Spot

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

Cable News vs. Spot Early Morning A25-54 CPM

Syndication Scatter vs. Spot Access A25-54 CPM

“Why should I use Spot TV when I can buy Network for the same cost as the top 20 markets and get the other 190 for free?”

2nd Quarter 2012 Network Scatter vs. Spot TV — CPM A25-54 Spot DMA Spot TSA Early Morning $22.87 $17.92 $13.26 Early News 25.24 23.83 17.47 Prime 48.25 48.62 36.15 Late Night 36.11 19.88 14.40 Total $132.47 $110.25 $81.28

2nd Quarter 2012 Spot TV CPM Projections vs 2nd Quarter 2012 Spot TV CPM Projections vs. Network Scatter SQAD A25-54 DMA CPM Basis Markets Early Morning Early News Prime Late Night 1-10 $18.88 $24.47 $63.87 $20.19 1-20 18.80 24.56 60.38 19.69 1-30 18.29 23.83 56.62 18.98 1-50 17.59 22.83 51.82 18.11 1-80 17.14 22.28 48.46 17.91 1-100 22.31 47.77 18.21 1-210 17.92 48.62 19.88 Network Scatter $22.87 $25.24 $48.25 $36.11

2nd Quarter 2012 Spot TV CPM Projections vs 2nd Quarter 2012 Spot TV CPM Projections vs. Network Scatter SQAD A25-54 TSA CPM Basis Markets Early Morning Early News Prime Late Night 1-10 $15.01 $19.38 $50.41 $15.90 1-20 14.83 19.29 47.50 15.43 1-30 14.40 18.62 44.33 14.84 1-50 13.92 17.97 40.75 14.22 1-80 13.34 17.26 37.72 13.83 1-100 13.27 17.18 37.04 13.97 1-210 13.26 17.47 36.15 Network Scatter $22.87 $25.24 $48.25 $36.11

A25-54 CPM Change 2Q 2012 vs. 1Q 2012 Network Spot DMA Spot TSA Early Morning +22% +23% Early News +29% Prime +38% +20% Late Night +12%

A25-54 CPM Change 2Q 2012 vs. 2Q 2011 Network Spot DMA Spot TSA Early Morning +1% +9% Early News +2% +6% Prime +3% +15% +16% Late Night +4% +7%