John Pierce,

John Pierce & Company, LLC

859.647.0101

Davidson Media Group Acquires Indianapolis’ WNTS from Sam Smulyan Estate- Monday July 11,2005

Indianapolis….Natalie Smulyan and the estate of Sam Smulyan have reached an agreement to sell the estate’s remaining radio station, Indianapolis’ WNTS (1590 AM), to the Davidson Media Group for $2 million cash.

Peter Davidson, head of Davidson Media Group, said the addition of the station will fit well with his Group’s portfolio.  “We are very pleased to be able to enter the Indianapolis market through the acquisition of this heritage radio station.  Davidson Media Group looks forward to a long and active presence in Indianapolis and the surrounding communities.”

WNTS, the launching pad for the careers of David Letterman, Jeff Smulyan (Emmis Communications Chairman and CEO) and Rick Cummings (Emmis Radio President), originally stood for News-Talk-Sports, but flipped to a religious format in 1976 and continues to broadcast religious programming. 

The Sam Smulyan Estate sold its other radio property, Omaha’s KCRO (660 AM), in 2002.

The closing of the transaction is subject to several conditions, including approval from the Federal Communications Commission.  After the close of the transaction, Davidson Media Group will own 30 stations in 17 markets, all located in the Midwest and East Coast of the United States. 

Exclusive broker on this deal is John Pierce & Company LLC.

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