PRESS RELEASE

June 4, 2012

William Watcher has agreed to purchase the assets of radio station KTRN-FM, licensed to White Hall, Arkansas and serving the Pine Bluff market, from Bayou Broadcasting.* The purchase price is $162,500.

Bayou Broadcasting is headed by Kelly Ramsey and has no other broadcast interests. The buyer has other radio interests in Kansas and Arkansas.

Bill Whitley of our Dallas office represented the seller as the exclusive broker for this transaction.

* Pending FCC Approval