Boston Ventures News

Television Station Group Holdings, LLC completes the sale of WTAJ Channel 10

Boston, Massachusetts (January 3, 2007) ---- Boston Ventures and Alta Communications today announced that one of their portfolio companies, Television Station Group Holdings, LLC (“TSG” or the “Company”), has completed the sale of station WTAJ Channel 10, the CBS affiliate in Altoona/Johnstown, Pennsylvania, to Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) for approximately $56 million.
The sale of WTAJ represents final station sale for TSG. The Company previously sold its television station WBNG Channel 12, the CBS affiliate in Binghamton, New York, to Granite Broadcasting Corporation (OTC: GBTVK) for $45 million in July 2006. Additionally, in May 2002, TSG sold its Charleston, West Virginia station, WOWK, for $41.5 million.

“TSG has been an excellent investment for Boston Ventures and Alta,” said Andy Davis, Boston Ventures Managing Director. “Through their hands-on professional management, the team of CEO Michael Granados and CFO Ian Guthrie has created significant value for investors through both top line revenue growth and the implementation of cost savings.” Copey Coppedge and Barry Baker, both Boston Ventures Managing Directors, are Directors of TSG.

Both Michael Granados and Ian Guthrie have extensive backgrounds in the television industry. Michael Granados, who also serves as CEO of Boston Ventures’ portfolio company Smith Media, has more than 30 years of experience in the television industry. Prior to partnering with Boston Ventures, he served as a Regional Director at Sinclair Broadcast Group, managing 16 stations in 10 markets with more than $200 million in revenue.

Ian Guthrie currently serves as CFO of TSG and Smith Media and has over 10 years of experience in the television industry. Prior to joining TSG, Ian worked with Michael Granados at Sinclair Broadcast Group as Regional Controller, working closely with Michael to manage business operations for 16 stations in 10 markets.

About Boston Ventures Management, LLC
Boston Ventures Management, LLC (www.bostonventures.com) is a private equity firm that has been an active investor and financial partner to management teams in the media, entertainment, publishing and information and communications sectors since 1983, earning the firm a franchise position in the private equity community. Boston Ventures’ Managing Directors and partners are accomplished and experienced professionals who have a diverse and complementary range of skills and a broad network of domestic and international relationships. Some of Boston Ventures’ investments in its 20 year history have included News Corporation, National Enquirer, CAMP Systems, River City Broadcasting, Survey Sampling International, Six Flags Amusement Parks, Marshall & Swift, Panavision and Motown Records.

About Alta Communications
Alta Communications is a Boston-based private equity firm which focuses exclusively on opportunities in the media and telecommunications industries. Alta’s partners possess over 100 years of collective communications investment experience, making Alta the partner of choice for several of today’s leading media and telecommunications companies. Currently Alta manages $1.5 billion of aggregate capital and is making new investments out of its $500 million Alta IX fund. Please see www.altacomm.com for additional information.

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CONTACT:

Tim Smith
Boston Ventures Management, LLC
(617) 350-1530

Brian McNeill
Alta Communications
(617) 956-1317

Michael Granados
TSG and Smith Media
(210) 386-9110

Ian Guthrie
TSG and Smith Media
(314) 259-5766