1. ITN Networks Board Meeting June 10, 2009

2. Financials 2009 Financial Discussion 1 st Qtr Details We have over delivered both the 4 th and 1 st Qtr’s by a total of $6.4m, most of which can be realized in the 2 nd and 3 rd Qtr’s by under delivering within acceptable client parameters. Continued the process that began in the 4 th Qtr of using station group deals and shorter rotation buys creating new buy lines that were not fully utilized at each station and subsequently increased our inventory base. The new buy lines have provided higher ratings enabling us to further compete on value and not a lowest cost basis. Canceled March Station orders to improve profit and take advantage of the soft local market by leveraging March and the 2 nd Qtr combined. Options for the qtr were at 22.3% vs. 10.5% for the same qtr ‘08. The three prior broadcast years averaged 22%. $9.9m was written in the scatter market vs. $17.2m for the same qtr ‘08. 2 nd Qtr Details The offer of “Roll Backs” to clients led to lower than expected options of 37.1% vs. 10.8% for the same qtr ‘08. Although this is a high percentage it is viewed as a success in this marketplace. This was the first qtr where we revamped how we buy local station inventory, minimal base buys supplemented by opportunistic close in buying, poses a risk which has been minimized by the soft market. The new approach has led to one of the highest profit margins in our history of greater than 40%. Scatter for the Qtr has totaled $20.9m vs. $23.1m for the same qtr ‘08. Although off slightly from the previous year, it is significantly higher than original projections, which is a direct result of the “Roll Backs” offered to clients.

3. Financials 2009 Financial Discussion 3 rd Qtr Details Options for the Qtr finished at 39.6% vs. 37.6% for the same qtr ‘08. This was lower than original expectations but similar to the 2 nd Qtr. Scatter for the Qtr is at $2.5m which is off from 3 Q ’08, which was $8.1m. We continue to register additional budgets but the market could be affected by the pace of the 09/10 Upfront negotiations. We are confident with our revamped buying methods and the over delivery from previous Qtr’s that our margin will hit the projection of 40%. 4 th Qtr Details The Billing is based on 80% of 4 Q ‘08 upfront in addition to the same scatter as 4 Q ‘08. We are expecting to see less dollars committed in the upfront but a healthy scatter market throughout 09/10 broadcast year. Upfront negotiations should begin later this month. Profit Margin is based on the ‘09 budget until we begin the 09/10 upfront negotiations. The profit margin will be affected by the Roll Backs in the 2 nd and 3 rd Qtr which resets pricing for those Qtr’s in this Upfront. Taxable Income – ITN had taxable income of $11m for 2008. As an LLC, the taxable income is passed through to the partners, a few have requested distributions for 2008. The 2009 taxable income at the present time projects to be about the same as 2008. ITN has rebuilt the platform for all of it’s systems. We can write off an additional $1m, the balance of the software intangible asset reducing taxable income. Auditing Standards require that we have a valuation performed on the company to test if the Goodwill has been impaired. For book purposes Goodwill is not amortized but for tax purposes it is amortized over 15 years. If the valuation shows that multiples have come down then we can write off a portion of the Goodwill if it exceeds the taxable carrying value which would reduce our taxable income.

4. Financials 2009 Tracking Gross Revenue1 st Qtr2 nd Qtr3 rd Qtr4 th QtrTotal Year 2008 Actual$64.6m$74.2m$49.3m$46.5m$234.6m 2009 Budget$49.2m$45.8m$38.4m$37.3m$170.7m 2009 Forecast – Mar 11 th $54.7m$53.0m$43.7m$39.1m$190.5m 2009 Forecast – May 8 th $55.2m$64.8m$40.9m$34.6m$195.5m 2009 Forecast – Jun 5 th $55.2m$65.3m$40.9m$34.6m$196.0m Station Profit Margin 2008 Actual24.0%35.1%30.2%32.5%30.5% 2009 Budget32.0%28.9%24.5%26.8%28.3% 2009 Forecast – Mar 11 th 34.7%36.5%31.0%26.8%32.7% 2009 Forecast – May 8 th 34.9%40.8%40.0%26.0%36.3% 2009 Forecast – Jun 5 th 34.9%40.8%40.0%26.0%36.3% SG&A 2008 Actual$5.5m$5.9m$5.3m$7.8m$24.5m 2009 Budget$5.5m$5.5m$5.5m$5.5m$22.1m 2009 Forecast – Mar 11 th $5.8m$5.6m$5.6m$5.7m$22.7m 2009 Forecast – May 8 th $5.8m$5.8m$6.0m$6.1m$23.6m 2009 Forecast – Jun 5 th $5.8m$5.8m$6.0m$6.1m$23.7m Pro-Forma Adj. EBITDA 2008 Actual$6.7m$15.0m$6.2m$4.7m$32.5m 2009 Budget$6.9m$4.8m$1.5m$2.0m$15.3m 2009 Forecast – Mar 11 th $9.3m$9.8m$4.9m$2.1m$26.1m 2009 Forecast – May 8 th $9.1m$15.1m$6.7m$0.6m$31.5m 2009 Forecast – Jun 5 th $9.1m$15.5m$6.6m$0.5m$31.8m

5. Financials 2009 Forecast by Qtr ITN Trailing Financial Analysis ActualForecastForecastForecastForecast 1 st Qtr2 nd Qtr3 rd Qtr4 th QtrTotal Year Gross Revenue$55.2m$65.3m$40.9m$34.6m$196.0m Less :Agency Fees$ 8.3m$ 9.8m$ 6.1m$ 5.2m$ 29.4m Net Revenue$46.9m$55.5m$34.7m$29.4m$166.6m Earned Adjustment-$ 0.5m-$ 0.3m-$ 0.7m-$ 0.3m-$ 1.8m Net Earned Revenue$46.4m$55.2m$34.1m$29.1m$164.8m Delivery %98.88%99.47%98.00%99.00%98.92% Station Costs$30.2m$32.7m$20.4m$21.5m$104.9m Gross Margin – Station Only34.85%40.77%40.00%26.00%36.34% Nielsen & Production Expense$ 1.3m$ 1.2m$ 0.9m$ 0.9m$ 4.3m Cost of Goods Sold$31.5m$33.9m$21.4m$22.5m$109.2m Gross Profit$14.9m$21.4m$12.7m$6.6m$55.5m Gross Margin32.07%38.67%37.25%22.79%33.71% Selling$ 1.2m$ 1.4m$ 1.3m$ 1.2m$ 5.1m G & A$ 4.6m$ 4.4m$ 4.8m$ 4.9m$18.6m EBITDA$ 9.1m$15.5m$ 6.6m$ 0.5m$31.8m EBITDA Margin19.64%28.14%19.50%01.86%19.32% ’08 EBITDA$ 6.7m$15.0m$ 6.2m$ 4.7m$32.5m Trailing EBITDA$35.0m$35.6m$35.9m$31.8m$31.8m

6. Financials 2009 Credit and Covenants Analysis by Qtr ActualForecastForecastForecastForecast 1 st Qtr2 nd Qtr3 rd Qtr4 th QtrTotal Year Total Senior + Mezzanine Debt$74.0m$72.0m$68.0m$62.5m Debt Payments - Scheduled$ 2.0m$ 2.0m$ 2.0m$ 2.0m$ 8.0m Debt Payments - Voluntary$ 0.0m$ 2.0m$ 3.5m$ 4.5m$10.0m Total Debt Outstanding$72.0m$68.0m$62.5m$56.0m Total Debt/EBITDA2.061.911.741.76 Covenant5.004.754.504.00 Pass / FailPassPassPassPass Cash Interest Expense ‘08$ 2.2m$ 1.9m$ 1.7m$ 1.5m$ 7.3m Cash Interest Expense ‘09$ 1.0m$ 1.2m$ 1.2m$ 1.3m$ 4.7m EBITDA/Cash Interest5.726.557.206.78 Covenant2.002.002.252.25 Pass / FailPassPassPassPass Fixed Charges ’08$ 3.9m$ 3.6m$ 6.5m$ 3.7m$17.6m Capital Expenditures$ 0.1m$ 0.5m$ 0.2m$ 0.2m$ 1.0m Tax Payments and Distributions$ 0.0m$ 0.3m$ 0.8m$ 0.8m$ 1.8m Management Advisory Fee$ 0.2m$ 0.2m$ 0.2m$ 0.2m$ 0.6m Deferred Management Payment$ 0.0m$ 0.0m$ 2.7m$ 0.0m$ 2.7m Fixed Charges ‘09$ 3.3m$ 4.1m$ 7.0m$ 4.4m$18.8m LTM Fixed Charges$17.0m$17.6m$18.1m$18.8m LTM Change in Working Capital -$12.6m$ 0.1m$ 3.7m$ 2.8m (EBITDA + LTM Change WC)/Fixed Charges1.312.032.191.84 Covenant0.900.900.900.90 Pass / FailPassPassPassPass