Station Info

FOR IMMEDIATE RELEASE
Wednesday, November 15, 2006

Los Angeles, CA. – New Vision Television, LLC (“New Vision” or the “Company”),announced today that they have signed a definitive agreement under which they will purchase the assets of Piedmont Television Holdings television stations WKBN-TV (CBS) and WYFX-LP (FOX) in Youngstown, Ohio. The transaction is subject to regulatory approvals and is expected to be completed in the first quarter of 2007.

Jason Elkin, Chairman and Chief Executive Officer of New Vision, said, “WKBN and WYFX continue our drive to build a network of 15-20 stations, with geographic and affiliate diversity, and will expand our platform which began with the recent acquisitions of WIAT-TV in Birmingham, Alabama and KIMT-TV in Mason City, Iowa.” Mr. Elkin also stated that “we are excited with the opportunity to work with the exceptional employees and management of these two excellent TV stations.”

Paul Brissette, Piedmont Television’s CEO, said, “This is a great opportunity for WKBN and WYFX to continue their success in Youngstown. We are fortunate that we were able to find such an ideal buyer in New Vision, given its history of success in the broadcasting industry.”

New Vision is engaged in active due diligence on many other stations, together with its equity partner, HBK Investments L.P. and its debt partner, CIT Group Inc.

Mr. Elkin is a veteran broadcaster with historical experience in syndication and in medium and large broadcast groups. His successful ownership of New Vision One in 1993-1995 and College Television Network (1997-2002), and New Vision Two (2002-2005) has lead him to the development of New Vision Three, which will culminate a lifetime of work in the broadcasting industry.

“We are pleased with the Youngstown acquisitions. The stations have a strong commitment to local news and sports and we plan on building on that base.” Mr. Elkin also stated that, “it is a pleasure to follow a professional broadcaster of the stature of Paul Brissette.”

Wachovia Securities acted as adviser to Piedmont Television Holdings in the transaction.

About New Vision Television, LLC
With offices in Atlanta and Los Angeles, New Vision and its predecessors have owned and operated numerous television stations across the country, dating back to 1993. New Vision Three was formed in 2006 with Jason Elkin as CEO, John Heinen as President and COO and Eric Simontis as CFO.

About HBK Investments L.P.
HBK Investments L.P. is an investment management firm with over $10.5 billion in equity capital under management. Headquartered in Dallas, the firm also maintains offices in New York, London, Tokyo, and Hong Kong.

CONTACTS:
New Vision Television
Jason Elkin, Chairman and CEO
(310) 478-3200
Los Angeles, California
jelkin@newvisiontv.com

John Heinen, President and Chief Operating Officer
(404) 995-4711
Atlanta, Georgia
jheinen@newvisiontv.com

Eric Simontis, Chief Financial Officer
(404) 995-4711
Atlanta, Georgia
esimontis@newvisiontv.com

Piedmont Television
Paul Brissette, Chief Executive Officer
(941) 552-3000
Charlotte, North Carolina