Barker Capital Advises Barrington Broadcasting on Television Acquisitions.

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 13, 2004

Barker Capital, LLC ("Barker Capital") announced today that the firm has advised Barrington Broadcasting Company ("Barrington") on a transaction involving the acquisition of WHOI-TV and KHQA-TV from Chelsey Broadcast Corporation. WHOI-TV is the ABC affiliate in Peoria, Illinois. KHQA is the CBS affiliate in Quincy, Illinois; Hannibal, Missouri, and Keokuk, Iowa. The transaction also includes WBPE-TV, which is the WB100+ affiliate in Peoria.

"We have observed the success of Barrington's founder and Chief Executive Officer K. James Yager for many years and recognize his ability to both assemble quality television assets and attract some of the best and brightest in the industry to lead them," Jacob J. Barker, Managing Partner said. "Barrington currently has the managerial and financial resources necessary to become a leading operator of television stations."

"Barker Capital's creative and nimble response to our acquisition strategy and capital needs has proved invaluable," said Mary Flodin, Barrington's Chief Financial Officer.

Barker Capital (www.barkercap.com) is a media specialist investment bank focused on companies and transactions with valuations less than $100 million. The firm leverages the experience of its founder, Jacob J. Barker, who spent ten years covering media companies as a research analyst at Toronto Dominion Securities, Bank of America Securities and Fidelity Management & Research. Since its founding in 2002, Barker Capital has advised on over $100 million of transactions in a variety of media sectors. Barker Capital distinguishes itself as a knowledge based institution by hosting conferences and publishing industry white papers. The most recent of these efforts, Getting to Know National Radio & Repping drew 50 participants from the private equity and money management community and was co-hosted with Interep (IREP.OB).