Post-Newsweek Stations Take LATV Stake

LOS ANGELES, August 20: LATV Networks, which operates a
bilingual music and entertainment network for U.S. Hispanic audiences, has
received an undisclosed investment from the Post-Newsweek Stations group.

Post-Newsweek Stations now has a minority stake in the
national network, distributed via digital multicast, as well as a seat on the
board. Post-Newsweek has already signed an affiliate deal with LATV to
multicast the 24-hour network on a digital channel at four of its six stations.

"The Post-Newsweek affiliation agreement helped put
LATV on the U.S. television map,” said Danny Crowe, the president of LATV. “And
now, their strategic investment in our network strengthens our national
position as we grow our network to include the top 40 Hispanic markets in the
country. We're delighted to have a partner of such stature believe in our
company and invest in its future."

LATV's national rollout began with Post-Newsweek Stations'
affiliates in Houston, Miami, Orlando and San Antonio. LATV is multicast on
these stations' digital spectrum as a standard-definition channel. "Our local stations have had a
tremendous response from our Hispanic customers to LATV's programming,” said
Alan Frank, the president and CEO of Post-Newsweek Stations. “LATV was a
trendsetter as a channel and continues to be one as a network. We believe in
its format and its people so strongly that we decided to invest in its national
rollout. Post-Newsweek is very pleased to be part of this ground-breaking
venture as LATV keeps going into new markets at a rapid pace."

In addition to the Post-Newsweek stations, LATV recently
announced a 10-market affiliation agreement with Entravision Communications
Corporation to broadcast the national network. In addition, LATV has affiliates
in 13 other markets, including Puerto Rico. The bilingual network is also
carried on basic cable through its affiliates and in Los Angeles on KJLA via
cable, broadcast and DBS.

LATV has been on the air in the Los Angeles market since
2001 and launched nationally on April 23, 2007. The network is ad-supported and
offers an array of programming that is original, exclusive and live, featuring
top performers in the Latin music world. Targeting the 12- to 34-year-old
Latino, LATV's programming bouquet offers a range of content that includes
multi-genre music, lifestyle and entertainment.