1. RADIO IN 2013 How Radio Advertising Fits in the Media Mix

2. 0-- Consumer RadioInternetNewspaperMagazinesOutdoorDirectoryTV 2 TODAY’S MEDIA LANDSCAPE

3. 0-- A GROWING AUDIENCE 2012 RADIO AUDIENCE IS AT AN ALL-TIME HIGH! Sources: Arbitron RADAR 115, December 2012 (Persons 12+, Monday-Sunday 24-Hour Weekly Cume Estimates) 242.0 MILLION 3 P 12+

4. 0-- 4 MEDIA REACH RADIO’S REACH IS STRONG Sources:: TV HH, Nielsen May 2011; wkly Radio Arbitron RADAR December 2012 M-Su M-M; Mobile Web comScore Feb 2011 via mobiThinking; DVR, Nov, 2010 NielsenWire; Cable & ADS July 2011 Nielsen Report; iPods/MP3s and Social Net Usage Arbitron/Edison Infinite Dial: 2012; Video Game Consoles from Lichtman Research June 2010; Twitter comScore Dec 2011; Video Game Console, Internet usage, Wireless Cell Phone, High speed Internet Access from Pew Internet & American Life Project Dec 2010, May, June 2011; Tablets Audio4cast March 20, 2012; Scarborough USA + Release 2 2011 12 months % Population/Household Penetration

5. CONSISTENT TIME SPENT EVEN AMONG HEAVY USERS OF OTHER MEDIA Source: The Infinite Dial 2012 – Arbitron Inc. & Edison Research Hours:Min 5

6. 6 GOING STRONG RADIO IS THE 2 ND MOST USED PLATFORM IN AMERICAN LIVES 98% BROADCAST RADIO 93% 54% 43% 37% 29% 16% 14% 13% 12% 10% 3% Source: The Infinite Dial 2012 – Arbitron Inc. & Edison Research ; Note: Pandora is a subset of Online Radio and shown separately as a pure-play operator % of Americans 12+ Who Use Platform

7. 7 AND STRONGER RADIO OUTRANKS TODAY’S DIGITAL DEVICES Source: The Infinite Dial 2012 – Arbitron Inc. & Edison Research % of Americans 12+ Who Own Device

8. 0-- TELEVISION SIGHT, SOUND AND MOTION 8 TVRadio UNAIDED BRAND RECALL INCREASED 34% WHEN TWO RADIO ADS REPLACED ONE TV AD* Total TV households are down from 114.6MM in 2011 to 114.2MM in 2012 1 Monthly time P2+ have spent with TV dropped 1 hour and 26 minutes from Q2 2011 to Q2 2012 2 Weekly time dropped from 32 hours and 47 min in Q2 2011 to 31 hours and 45 minutes in Q2 2012 Time shifted viewing by A18-49 increased from 12 hours and 14 minutes in Q2 2011 to 13 hours and 4 minutes in Q2 2012 2 77% of connected device users are watching TV while using another device 3 Radio delivers more than 93% of its lead-in audience during commercial breaks, on average 4 Sources: 1) Nielsen Company 2012; 2) Nielsen Cross-Platform Report Q2 2012; 3) eMarketer, November 2012; 4) What Happens When the Spots Come On 2011, Arbitron, Inc., Media Monitors & Coleman Insights; *The Benefits of Synergy, Radio Ad Lab, 2004

9. 0-- INTERNET TRACKING AND INTERACTIVITY Sources: 1)Pew Research Center’s Internet & American Life 2011; 2) comScore “Validated Campaign Essentials” January 2012; 3) The State of Online Advertising 2012; 4) comScore “Validated Campaign Essentials Charter Study, March 2012; *Radio and the Internet: Powerful Complements for Advertisers, Radio Ad Lab, 2007 9 InternetRadio RADIO DRIVES ONLINE SEARCH AND WEBSITE TRAFFIC * According to an April 2012 survey, only 82% of adults 18+ use the internet 1 Most adults go online just to pass the time 1 63% of American consumers ignore or disregard internet ads 2 72% of campaigns run next to objectionable content 60% of consumers state online advertising is annoying 3 31% of ads are not in view or never have the opportunity to be seen 4 In many cases a large portion of ad impressions are not delivered according to plan

10. 0-- NEWSPAPER DETAILS AND INFORMATION Sources: 1) State of the News Media in 2012; 2) Pew Research Center 2012 News Consumption Survey 3) eMarketer, October 2012 10 NewspaperRadio RADIO IS AN ENGAGING MEDIUM THAT CREATES EMOTION Newspaper revenue dropped 7% in 2011 versus 2010 1 Weekly circulation dropped 4% April- September 2011 versus same time period 2010 1 Adults 65+ are most likely to be newspaper readers but their readership declined 3 percentage points in 2011 1 Only 6% of A18-24 stated they read the news in a print newspaper the previous day 2 The average time U.S. adults spent with newspapers dropped to 22 minutes in 2012 from 30 minutes in 2010 3

11. 0-- OUTDOOR STRATEGIC AND ATTENTION GRABBING Sources:1) Outdoor Advertising Association 2011; 2) Premier Media 11 OutdoorRadio RADIO EXTENDS OOH MESSAGING, PARTICULARLY FOR WINDSHIELD BRANDS Made up of 100 different formats (billboards, street furniture, transit, etc.) with more than 2,100 operators 1 Recommended limit of 7 words or less for each billboard puts tremendous constraints on the advertiser’s message Low recall of messages due to brief consumer exposure It is not assured to be seen by your target audience 2 Outdoor advertising can run the risk of vandalism and can be damaged due to weather conditions

12. 0-- DIRECTORY REFERENCE AND FAMILIARITY Sources: 1) Market Authority, Inc., November 2012; 2) Bloomberg Businessweek, April 2012; 12 DirectoryRadio RADIO INCREASES TOP-OF-MIND AWARENESS TO HELP REACH, MOTIVATE AND INFORM CONSUMERS BIA/Kelsey expects revenues from print and online directories to decline globally from $23.4 billion in 2011 to $22.0 billion in 2015 67% of consumers in 19 U.S. urban area households report using the printed directory at least occasionally 1 Among older consumers, such as Baby Boomers and Seniors (48+), print usage is much stronger Print revenue has decreased by $7.3 billion since 2007 as websites like Yelp, Google, and Groupon have taken over the market for small business ads 2

13. 0-- MAGAZINES PORTABLE AND TARGETABLE Sources: 1) Association of Magazine Media; 2) eMarketer ; 3) Media Daily News, July 2012 13 MagazinesRadio RADIO’S FORMATS AND PROGRAMMING TARGET CONSUMERS BY INTERESTS AND LIFESTYLE Attracts mass and niche audiences with more than 20,000 titles 1 U.S. adults spent 16 minutes per day with print magazines in 2012 versus 20 minutes in 2010 2 Circulation declined over 4% in 2011(includes paid subscriptions a single- copy sales) 1 74 titles closed first-half 2011 and 48 first- half 2012 3 Total consumer magazine ad pages declined 8.5% in Q2 2012 versus Q2 2011 3

14. 0-- Delivers a uniform user experience across all platforms (in car, mobile device, etc.) Reaches 92% of P12+ every week 1 Formats deliver all audiences – regardless of age, gender or language Reaches 91% of P12-24 every week 1 Reaches 94% of P18-49 every week 1 Drives traffic – online and on site 52% have heard about a new product, service or store on the radio 2 Personalities that speak to the interests of loyal listeners within their communities A flexible and nimble medium with low production costs Sources: 1) Arbitron, RADAR 115, December 2012 (M-Sun 24-hour weekly cume estimates); 2) Radio Tomorrow, Alan Burns & Associates, 2012 14 Other Media Radio INCREASES BRAND AWARENESS, AD RECALL AND CAMPAIGN EFFECTIVESS RADIO ON-AIR. ONLINE. ON TARGET.

15. 0-- 15 Other Media Radio RADIO IS LIVE LOCAL AND SOCIAL There are nearly 11,000 commercial local radio stations today 1 70% of radio listeners follow their favorite personality/radio station on social media 2 62% of radio listeners would be disappointed if their favorite radio station went away 3 45% would be disappointed if Facebook went away 70% of radio listeners consider radio personalities to be a good or best friend or companion 2 Visits to radio station websites are on the rise 3 Up to 34% of adults in 2012 vs. 27% in 2010 visited in the past week Sources:1) Inside Radio MStreet 2012; 2) USC, Annenberg School for Communication & Journalism, PSI Study Released June 2012, Woodley, P. and Movius, L. People With a Favorite Radio Personality in LA; 3) Radio Tomorrow, Alan Burns & Associates 2012; 3) The Infinite Dial 2012 – Arbitron Inc./Edison Research RADIO ON-AIR. ONLINE. ON TARGET.

16. 0-- 16 Other Media Radio RADIO IS THE ULTIMATE MOBILE MEDIUM 73% of vehicle owners with FM radio said they listen to the radio during car trips 1 Mobile device in-car audio use has grown from 6% in 2010 to 17% in 2012 2 80% of adults with internet access in the car listen to AM/FM on the radio and a local or distant AM/FM stream 3 55% of listeners said they listen to their favorite personalities on computers or mobile devices when away from a radio 4 Radio is the dominant medium in the commuting schedule with 68% reach 5 Sources: 1) The NPD Group; February 2012, based on a U.S. representative sample of over 1600 vehicle owners; 2) The Infinite Dial 2012 – Arbitron Inc./Edison Research; Base: Use a Cell Phone: 3) Radio Tomorrow, Alan Burns & Associates 2012; 4) USC, Annenberg School for Communication & Journalism, PSI Study Released June 2012, Woodley, P. and Movius, L. People With a Favorite Radio Personality in LA; 5) USA Touchpoints 2012.1 RADIO ON-AIR. ONLINE. ON TARGET.

17. 0-- 17 Other Media Radio RADIO IS A SOURCE FOR NEWS, INFORMATION & ENTERTAINMENT Reaches 86% of registered voters in district of residence 1 87% of American-Americans and 89% Hispanics 33% of adults listened to radio the previous day to get news 2 Radio listening spikes during times of crisis As Sandy hit the NY metro, the average number of people using radio in any quarter hour from 7PM to 12M on the storm night (10/29) increased 70% (vs. the prior week) 3 40% of online heavy radio millennial listeners use to the internet to listen to the radio in the past month 4 People who listen to Pandora spend more time with AM/FM radio than non-Pandora listeners 5 19.1 hours per week with AM/FM radio Sources: 1) Scarborough USA+ 2011 Release 2 (12 months only); 2) Pew Research Center 2012 News Consumption Survey; 3) Arbitron Inc., November 2012; 4) Inside the Minds of Heavy Radio Listeners, Scarborough USA+ Study, Release 1, 2012; 5) What Pandora Means for Radio, Vision Critical November 2012 RADIO ON-AIR. ONLINE. ON TARGET.

18. 0-- Insert information specific to your station(s) here Sources:: Insert a source here is needed 18 Other Media Insert call letters here Insert a point that illustrates how your station(s) can aid other media RADIO ON-AIR. ONLINE. ON TARGET.

19. 0-- 19 RADIO CONSUMPTION MIRRORS THE RETAIL DAY Source: GfK MediaDay 2012 (Fieldwork 11-12/Doublebase Respondents) weighted to population (000) Base All Radio is the #1 daytime medium Next Day

20. 0-- 20 Other Media Radio RADIO INFLUENCES PURCHASE DECISIONS Radio use is greater than use of other media outside of the home 1 AM/FM radio is the second most used medium reaching 59% of Adults 25-54 throughout their day and while during the daily activities 1 Broadcast radio is the most used medium closest to the point of purchase 1 Broadcast AM/FM radio delivers the largest reach at key pre-shopping periods Radio reaches 40% of Adults 25-54 two hours before they go shopping 1 Radio has the highest reach of Adults 25-54 on their way to grocery shopping (peak of 5-6PM) 2 Radio reaches 29% of A18-64 quick service restaurant patrons before the lunchtime peak of 11AM-12N 2 52% of radio listeners have heard about a new product, service or store on the radio 3 Sources: 1) USA Touchpoints 2012.1; 2) USA Touchpoints 2012.2; 3) Radio Tomorrow, Alan Burns & Associates 2012 RADIO ON-AIR. ONLINE. ON TARGET.

21. 0-- Insert a summary on how your station(s) can help drive business Sources:: Insert a source here is needed 21 Other Media Insert call letters here Insert a point that illustrates how your station(s) can aid other media RADIO ON-AIR. ONLINE. ON TARGET.

22. 0-- Mass reach comparable to TV and the Internet Americans are exposed to 14.6 billion hours of radio every month 1 A mobile and engaging medium Delivers content to consumers where and when they want it Via computers, laptops, smartphones and over-the-air Increases brand awareness, influences purchase behavior An efficient and effective medium Delivering ad messages on-air, online, on target and on demand 22 Other Media Radio RADIO ACROSS ALL PLATFROMS HAS AN IMPORTANT ROLE WITHIN THE MEDIA MIX RADIO ON-AIR. ONLINE. ON TARGET. Sources: 1) Arbitron Inc. listening hours calculations based on RADAR’s combined PPM and diary survey estimates (Persons 12+, Mon-Sun 6AM-Mid)