Cherry Creek Radio Acquires KSTV-AM/FM,KYOX-FM from 337 Broadcasting


April 23, 2004

Cherry Creek Radio announces the purchase of the 377 Broadcasting Stations in Stephenville/ Comanche, Texas.

Cherry Creek Radio LLC is a Denver based radio company that owns and operates 24 radio stations plus the pending acquisition of 2 more stations in Helena, Montana. The company has stations in 9 different markets and announced today the purchase of three more radio stations, KSTV-AM and KSTV-FM and KYOX-FM. KSTV-AM and KSTV-FM serve the Stephenville, Texas market and KYOX-FM is licensed to Comanche, Texas. The purchase price is $3.8 million.*

The buyer, Cherry Creek Radio, is headed by Joe Schwartz, President and CEO. The seller, 377 Broadcasting, is headed by Robert _Boots_ Elliott and Bob Haschke.

_The KSTV and KYOX cluster of radio stations is a great addition to our station group_ said Joe Schwartz. _Boots Elliott and Bob Haschke have done a tremendous job of operating a successful and very community oriented set of stations and we look forward to continuing that same high quality of service with Boots Elliott continuing his association with the stations after the acquisition_ added Schwartz.

Bill Whitley served as the exclusive broker for this transaction.

* Pending FCC Approval