Boston Ventures Management, Inc. Names Michael Granados, Chief Executive Officer/ President and Ian Guthrie, Chief Financial Officer of New Management Company, Television Station Group.

Business Editors

BOSTON--(BUSINESS WIRE)--March 3, 2003

Boston Ventures Management, Inc. announced Michael Granados has been appointed Chief Executive Officer/President of Television Station Group. The company will oversee operations of television stations, WTAJ-TV, (CBS) Johnstown-Altoona, Pennsylvania and WBNG-TV, (CBS) Binghamton, New York. Also announced was the appointment of Ian Guthrie, who will join the company as Chief Financial Officer. Copey Coppedge, Managing General Partner, Boston Ventures Management, Inc., made the announcement.

In making the announcement, Mr. Coppedge said, "It's great having the opportunity to work with Michael again. He truly understands the commitment required to make a station an integral part of the community it serves. His broad based station / network affiliation experience, market size diversity and entrepreneurial management spirit made him our choice to lead our television station investments."

"I am very excited about our new company and consider it a privilege to be associated with Boston Ventures and the two established and dominant Television Stations in their respective markets," commented Mr. Granados. "I look forward to working with the stations management teams and contributing to their continued success."

"I am pleased to be joining Television Station Group, with the support and resources of Boston Ventures and two well managed Television properties," commented Mr. Guthrie.

Mr. Granados served as Vice President/Regional Director, Sinclair Broadcast Group, overseeing a group of 16 stations, based in San Antonio, 1996 - 2002. Prior to that, Mr. Granados served as General Manager, WTTV and Group Manager for River City Broadcasting with oversight responsibilities of stations in Des Moines, Peoria and Cape Girardeau/Paducah, 1993-1996. Mr. Granados also held Station Manager/Director of Sales and Sale Managers positions in San Antonio, Sacramento and Fresno.

Mr. Guthrie served as Regional Controller, Sinclair Broadcast Group based in St. Louis and managed the Televisions Stations business operations in ten markets he also held positions as Regional Business Manager/Business Manager, 1996 - 2003. Prior to his career in the Television Industry, Mr. Guthrie held positions with KPMG, LLP as a Senior Staff Accountant and Boatmen's Trust Company as a Personal Trust Administrator. Mr. Guthrie attended Indiana University, with a Bachelor of Science degree in Accounting.