John E. Oxendine has been a lender and investor in the broadcast industry for over 20 years; primarily investing in minority owned or controlled companies. Mr. Oxendine is currently Chairman, President and CEO of Broadcast Capital, Inc., a Virginia corporation ("Broadcap"), and President and CEO of Blackstar Management, LLC, a Florida limited liability company which provides consulting services to the communications industry. Mr. Oxendine served as Broadcap's President from 1981-1995 and has served as Board Chairman from 1999 to present, reassuming the positions of President and CEO in January 2004. Mr. Oxendine also served from 1981-1995 as President, and as Board Chairman from 1999 to present, of Broadcast Capital Fund, Inc. ("BCFI") which until 1998 was Broadcap's parent company. Mr. Oxendine was also the Founder and Chairman of Blackstar Communications, Inc. ("BCI"), incorporated in 1987, which had as its principal business the acquisition, ownership and operation of commercial television stations. Prior to joining Broadcap in 1981, Mr. Oxendine served as Acting Chief of the Financial Assistance Division-FSLIC of the Federal Home Loan Bank Board, and from 1974 to 1979; he was an Assistant Manager at the First National Bank of Chicago, with overseas assignments in London and Mexico. From 1972 to 1974, Mr. Oxendine held positions with Korn Ferry Associates in Los Angeles, and from 1971 to 1972 with Fry Consultants in San Francisco. Mr. Oxendine served in the United States Marine Corps Reserve, working in the area of military intelligence as a Russian Language Specialist 1967 and 1968. He also served as a Peace Corps Volunteer in Santiago, Chile. Mr. Oxendine received a B.A. from Hunter College and in 1971 an MBA from Harvard University, Graduate School of Business.

Larry E. Morton, Chairman, President and CEO of Retro Programming Services, is one of the founders of Equity Broadcasting Corporation ("EBC"), the predecessor to Equity Media Holdings Corporation ("EMHC"). Mr. Morton was a member of EBC's Board of Directors from its inception in 1998. Prior to forming EBC, Mr. Morton was the President/ Manager of Las Vegas Media, LLC and Kaleidoscope Affiliates, LLC, media companies that were the predecessor entities to EBC, from 1994 to 1998. Under Mr. Morton's leadership, EBC as of September 30, 2006, operates or has signed agreements to acquire and operate 24 full power stations, 37 Class A stations and 67 low power stations. Mr. Morton also created EMHC's C.A.S.H.TM System, which gives the company a programming distribution method that allows for greater cable carriage and lower capital and operating costs at each station. Mr. Morton also recently co-developed RTN, EMHC's new programming concept that is designed to help broadcasters maximize the value of their digital broadcast spectrum. Mr. Morton is a graduate of the United States Air Force Academy, where he received a B.S. in Economics. He also graduated from the University of Arkansas where he received a B.S. in Accounting and a Masters in Business Administration.

Gregory W. Fess, Senior Vice President and COO, is one of the founders of EBC and has been a member of EBC's board of directors since its inception in 1998. Previously, Mr. Fess was a member of the management committee for Las Vegas Media, LLC and Kaleidoscope Affiliates from 1995 to 1998 that were predecessor entities to EBC. He has had extensive experience in the acquisition, development and operations of EBC stations, including the launching of EBC's Univision and Telefutura stations. Under his leadership, revenue at these stations has experienced significant growth over the past few years and now provides about 50% of the broadcast revenue of the Company. Mr. Fess is a graduate of the University of Arkansas, where he received a B.A. in Marketing and a Masters in Business Administration. Mr. Fess also served on the Arkansas Broadcasters Association Board for several years.

Mr. Ferrari is a co-founder of Royal Palm Capital Partners, a private investment and management firm, where he has been a partner since July 2002. Mr. Ferrari has served as a director of publicly-held Devcon International Corp., since July 2004, and as vice chairman of publicly held Sunair Services Corporation since February 2005. Mr. Ferrari has also served as a director of publicly-held Coconut Palm Acquisition Corporation. He also serves as Chief Strategic Officer for publicly-held Equity Media Holdings Corporation, one of the largest owners of television stations in the United States. Prior to forming Royal Palm Capital Partners, from June 2000 to June 2002, Mr. Ferrari was an investment banker with Morgan Stanley & Co. Previously, Mr. Ferrari co-founded PowerUSA, LLC, a retail renewable energy services company, in October 2007 and was a managing member until September 1999. Mr. Ferrari graduated Magna Cum Laude from Georgetown University with a double major in Finance and International Business.

Thomas M. Arnost, President/ CEO of EBC Station Group, served as the former Co-President of Univision Communications, Inc. (NYSE: UVN) Station Group, where he joined the company in 1994 following the 1992 acquisition of Univision by A. Jerrold Perenchio for $550 million. Mr. Arnost served as Co-President of Univision Television Group, which owns and operates 62 television stations in major U.S. Hispanic markets and Puerto Rico, from 1997 to 2005, and prior to that as Executive Vice President of Univision Television Group from 1994 to 1996. He also served as Station Manager for KMEX-TV in Los Angeles, Univision's flagship station, in 1994. In 2002, Mr. Arnost helped oversee the very successful launch of the Telefutura Station Group, which has since, significantly contributed to Univision's overall revenue growth. During Mr. Arnost's tenure, total station group revenue grew from under $120 million in 1993 to over $650 million in 2005. Previously, from 1985 to 1993, Mr. Arnost served as General Sales Manager for Tribune Broadcasting Station Group, KTLA-TV in Los Angeles. Positions prior to 1985 included: 1984, Local Sales Manager Golden West Broadcasting, KTLA-TV, 1980-1984, National Sales Manager Golden West Broadcasting, KTLA-TV, and Mr. Arnost started his broadcast career at Petry Media Television, where he served as Account Executive from 1973 to 1979. Mr. Arnost graduated from the University of Arizona with a B.A. degree in Business Administration and a major in finance.

Mark Dvornik, Executive Vice President of Retro Television Network, served as Executive Vice President and General Sales Manager for Paramount Television Group from September 2001 to January 2007. Previously, from 1999 to 2001, Mr. Dvornik served as Senior Vice President, General Sales Manager in Los Angeles with Paramount. During this time, Paramount assumed control of Worldvision and Rysher first-run and off-net sales, taking the Paramount library to over 55,000 hours of television. Mr. Dvornik previously served as Vice President, Southwestern Regional Manager from 1995 to 1998, Vice President, Southwestern Manager from 1992 to 1995, Southwestern Division Manager from 1990 to 1992, Central Division Manager from 1988 to 1990 and Account Executive from 1986 to 1988. Mr. Dvornik joined Paramount in 1985, as a sales trainee based in Los Angeles. Mr. Dvornik earned a Bachelor of Arts degree in English and Film from the University of Florida.

James H. Hearnsberger, Vice President — Administration and Finance, has been vice president of administration of the Company since its 1998 inception. During this time he has been active in all areas of the development of the company including property acquisition, disposition and management, finance, insurance and project development. Mr. Hearnsberger is a graduate of Hendrix College, where he received a B.S. in Economics. Mr. Hearnsberger is also a graduate of the University of Arkansas, where he received his Masters in Business Administration.

Patrick Doran, Chief Financial Officer, has over 28 years of diversified financial and operational experience in major corporations. Doran previously worked for Orbit Brands Corporation, where he served as interim Chief Financial Officer and consultant. Prior to this, Doran held several executive positions for CTN Media Group, Inc., including President, Chief Operating Officer, Chief Financial Officer and Secretary (1997-2006). Mr. Doran also served as the Vice-President of Operations and Planning for Turner Pictures Worldwide Distribution (1994-1997) and Vice President-Group Controller for the Syndication and Licensing group for Turner Broadcasting (1987-1993). Prior to joining Turner Broadcasting, Mr. Doran held various managerial and executive positions at Columbia Pictures and MGM Studios. Doran holds a Bachelor of Business Administration from Baruch College, CUNY in New York. He has also been a member of the AICPA for over 20 years.

Glenn Charlesworth, Vice President and Chief Accounting Officer, has been with the Company since 2001. He oversees the accounting department and is responsible for financial reporting duties. Mr. Charlesworth has over 25 years experience in public accounting and previously worked for Cytomedix, Inc, a publicly-traded biotechnology company, as CFO and Vice President of Finance. Mr. Charlesworth is a graduate of the University of Arkansas, where he received a B.S. in Business Administration. Mr. Charlesworth is a member of the American Institute of CPAs. Mr. Charlesworth previously served on the board of the Arkansas Children's Museum and the Westside YMCA.

Ms. Withrow, Secretary, was with Equity Broadcasting Corporation, the predecessor to Equity Media Holdings Corporation ("EMHC"), since its inception. Ms. Withrow handles all Federal Communications Commission compliance issues, FCC filings and cable carriage for the Company. She oversees contract negotiations for acquisitions and sales, along with contract preparation for the Company's news and national sales divisions. Ms. Withrow also handles human resources, personnel and general legal issues for EMHC. Ms. Withrow received a B.S. in Accounting from the University of Arkansas and her Juris Doctorate from the University of Arkansas at Little Rock School of Law.