Time Brokerage Agreement

TIME BROKERAGE AGREEMENT


THIS AGREEMENT is made and entered into as of this 8TH day of MAY, 2000 by and between SIMMONS RADIO NEW MEXICO, INC, ("Simmons"), a New Mexico corporation and VANGUARD MEDIA LLC ("Vanguard"), a New Mexico limited liability company, collectively "the parties."


RECITALS


Simmons operates a group of radio stations in the Albuquerque, New Mexico area. Simmons desires to change the format of its AM station operating on 1600 kHz. to an All-news format to enhance its service to the people of the Albuquerque area, thus increasing its radio audience so as to induce advertisers to purchase advertising time on its group of stations.


Vanguard has built a new AM broadcast station to serve the Albuquerque radio market. Vanguard desires to maximize Its service to the people of Albuquerque by broadcasting an Adult Standards format similar to that currently broadcast on 1000 kHz., and wishes to make a portion of its available advertising inventory available to Simmons.


NOW, THEREFORE, to the benefit of both parties, Simmons and Vanguard agree as follows:


1. Commencing on June 15, 2000, Vanguard will simultaneously broadcast the existing Simmons 1600 kHz, Westwood One Adult Standards programming on


Vanguard's 1550 kHz. station. During this initial one-week simulcast period, frequent promotional announcements will be broadcast to inform the 1600 kHz. station listeners that the Adult Standards format will be moving to the 1550 kHz. station.


2. Commencing on June 22, 2000, Simmons will cease broadcasting the Westwood One Adult Standards format on its 1600 kHz. station, and Vanguard will initiate local Adult Standards programming on its 1550 kHz. station on a 24-hour basis. During this second one-week simulcast period, Simmons' 1600 kHz. station will simultaneously broadcast Vanguard's 1550 kHz. station programming, During this second simulcast period, frequent promotional announcements will be broadcast to inform 1600 kHz. station listeners of the new format which will be broadcast on a continuing basis on 1550 kHz.. Additionally, Vanguard will broadcast frequent promotional announcements informing its radio audience of the new All-news format Simmons will be initiating on its 1600 kHz. station.


3. Commencing on June 29, 2000, the simultaneous broadcast will cease, with Simmons assuming ...