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      &lt;font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"&gt;10.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;

      On July 31, 2013, the Company entered into a credit agreement

      with a syndicate of lenders, contingent on successful

      completion of the merger with Young, which will provide the

      combined company with a $60 million revolving credit facility

      and an $885 million term loan. The revolving credit facility

      has a term of five years and will bear interest at LIBOR plus

      a margin of 2.75%.&lt;/font&gt; &lt;font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"&gt;The

      $885 million term loan has a term of seven years and will

      bear interest at LIBOR (with a LIBOR floor of 1%)&lt;/font&gt;

      &lt;font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"&gt;&lt;/font&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"&gt;plus

      a margin of 3.25%. Shield Media LLC (and its subsidiary

      WXXA-TV LLC) and Shield Media Lansing (and its subsidiary

      WLAJ-TV LLC) (collectively, &amp;#8220;Shield Media&amp;#8221;),

      companies controlling subsidiaries with which Young has

      shared services arrangements for two stations, entered into a

      new credit agreement with a syndicate of lenders, dated July

      31, 2013, contingent on successful completion of the Young

      merger, which will refinance its outstanding aggregate $32

      million term loans under one credit agreement. The existing

      Shield Media term loans are guaranteed on a secured basis by

      Young which will continue to provide its guarantee, secured

      by the same collateral, for the combined refinanced facility.

      The new Shield Media term loan has a term of five years and

      will bear interest at LIBOR plus a margin of 3.25%. The

      Company has also agreed to guarantee the new Shield Media

      term loan agreement, contingent on successful completion of

      the Young merger, but only if a guarantee is permitted under

      the terms of the senior secured notes.&lt;/font&gt;&lt;/font&gt;

    &lt;/p&gt;&lt;br/&gt;&lt;p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 27pt" id="PARA5740"&gt;

      &lt;font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"&gt;The

      Media General credit agreement contains a leverage ratio

      covenant, which involves debt levels and a rolling

      eight-quarter calculation of EBITDA, as defined in the

      agreement. Additionally, the agreement has restrictions on

      certain transactions including the incurrence of additional

      debt, capital leases, investments, additional acquisitions,

      asset sales and restricted payments (including dividends and

      share repurchases) as defined in the agreement. The Shield

      Media credit agreement contains a fixed charge coverage

      ratio, a financial covenant that is meant to measure whether

      the Borrowers can satisfy their fixed charges (interest, debt

      payments, capital expenditures and taxes) when due by

      measuring fixed charges to EBITDA, calculated on a rolling

      eight-quarter basis, as defined in the agreement.&amp;#160;

      &amp;#160;The agreement also has restrictions on transactions

      similar in nature to those in the new Media General

      agreement, but scaled to Shield Media&amp;#8217;s smaller

      size.&amp;#160; The agreement also has more specific covenants

      regarding the operation of the business and requires that

      each Shield Media holding company that controls a Shield

      Media station limit its activities to performance of its

      obligations under the Shield Media credit documents and

      activities incidental thereto including owning a Shield Media

      station and performance of its obligations under and

      activities related to the shared services agreement. Both the

      Media General and Shield Media credit agreements contain

      cross default provisions.&lt;/font&gt;&lt;/font&gt;

    &lt;/p&gt;&lt;br/&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 505

 -SubTopic 10

 -Section 50

 -Paragraph 3

 -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644



Reference 2: http://www.xbrl.org/2003/role/presentationRef

 -Publisher SEC

 -Name Regulation S-X (SX)

 -Number 210

 -Section 02

 -Paragraph 19, 20, 22

 -Article 5



Reference 3: http://www.xbrl.org/2003/role/presentationRef

 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 210

 -SubTopic 10

 -Section S99

 -Paragraph 1

 -Subparagraph (SX 210.5-02.19,20,22)

 -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682



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