FOR IMMEDIATE RELEASE

December 10, 2003

Newspaper Radio Corporation has agreed to purchase the assets of radio station KKHI (105.5) – FM licensed to Tinmath, Colorado, from Laramie Mountain Broadcasting, LLC for $15 Million *

Tim Brown is the Chief Executive Officer of Newspaper Radio Corporation. Vic Michael is the Managing Partner of Laramie Mountain Broadcasting, LLC.

Jody McCoy of Media Services Group represented the seller and Chuck Lontine of Marconi Media Ventures represented the buyer in this transaction.

* Pending FCC Approval