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Radio One, Inc.(www.radio-one.com) is one of the nation's largest radio broadcasting companies and the largest radio broadcasting company that primarily targets African-American and urban listeners. Pro forma for recently announced transactions, Radio One owns and/or operates 53 radio stations located in 16 urban markets in the United States. Additionally, Radio One owns Magazine One, Inc. (d/b/a Giant Magazine) (www.giantmag.com), interests in TV One, LLC (www.tvoneonline.com), a cable/satellite network programming primarily to African-Americans and Reach Media, Inc. (www.blackamericaweb.com), owner of the Tom Joyner Morning Show and other businesses associated with Tom Joyner. Radio One strategy is to expand within our existing markets and into new markets that have a significant African-American presence. We believe radio broadcasting primarily targeting African-Americans has significant growth potential. We also believe that we have a competitive advantage in the African-American market and the radio industry in general, due to our primary focus on urban formats, our skill in programming and marketing these formats, and our turnaround expertise.

Radio the Voice of Vietnam (VOV) is a state-controlled radio service that offers news and official information to citizens throughout the country. It operates six radio channels broadcasting in Vietnamese and 23 other languages. For listeners outside the country, VOV offers online content and programming along with shortwave radio broadcasts. The radio service has news bureaus in about 10 countries, including China, France, Russia, and the US. VOV began broadcasting in 1945.

(PRAGUE/WASHINGTON) On July 4, 1950, Radio Free Europe (RFE) went on the air for the first time with a broadcast to communist Czechoslovakia from a studio in New York City's Empire State Building. The station signed on with the pledge of delivering news "in the American tradition of free speech." On this Fourth of July, exactly 60 years later, RFE/RL reaches nearly 20 million people in 28 languages and 21 countries (map) including Russia, Belarus, Iran, Iraq, Afghanistan, and Pakistan. It remains a lifeline for people living in war zones and under authoritarian rule who seek accurate and reliable news and information.

Saga Communications is a leading radio broadcaster, with more than 90 stations serving about 25 markets in 15 states offering a variety of formats, including sports, talk, and news, as well as several music formats. Most of the stations serve small and midsized markets; the company typically has clusters of stations in each market, allowing it to combine certain business functions. Saga also operates five regional radio networks. In addition, the company owns a portfolio of five full-power and four low-power TV stations in Mississippi, Missouri, and Texas. Chairman and CEO Edward Christian has about two-thirds control of Saga.

Salem is a leading U.S. radio broadcaster, Internet content provider, and magazine and book publisher targeting audiences interested in Christian and family-themed content and conservative values. In addition to its radio properties, Salem owns Salem Radio Network®, which syndicates talk, news and music programming to approximately 2,000 affiliates; Salem Radio. Representatives™, a national radio advertising sales force; Salem Web Network™, a leading Internet provider of Christian content and online streaming; and Salem Publishing™, a leading publisher of Christian-themed magazines. The company owns and operates approximately 100 radio stations, including stations in 23 of the top 25 markets.

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