ASSET PURCHASE AGREEMENT

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Title: ASSET PURCHASE AGREEMENT
Governing Law: New York Date: 12/21/2006
Industry: BRDCST Sector: SERVIC

EX-2.1

EXHIBIT 2.1

ASSET PURCHASE AGREEMENT

between

CBS RADIO STATIONS INC.

and

REGENT BROADCASTING OF BUFFALO, INC.

TABLE OF CONTENTS


		Page

ARTICLE I ASSETS TO BE CONVEYED			1

1.1	Station Assets		1
1.2	Excluded Assets		3
1.3	Assumption of Obligations		5
1.4	Retained Liabilities		5
1.5	Purchase Price		5
1.6	Closing		6
1.7	General Proration		6
1.8	Effect of Local Marketing Agreement		9

ARTICLE II REPRESENTATIONS AND WARRANTIES OF SELLER			9

2.1	Existence and Power		9
2.2	Corporate Authorization		10
2.3	Governmental Authorization		10
2.4	Noncontravention		10
2.5	Absence of Litigation		10
2.6	Financial Statements		11
2.7	FCC Licenses		11
2.8	Tangible Personal Property		12
2.9	Station Contracts		12
2.10	Intangible Property		12
2.11	Real Property		13
2.12	Environmental		13
2.13	Employee Information		13
2.14	Compliance with Laws		14
2.15	Taxes		14
2.16	Sufficiency and Title to Station Assets		14
2.17	No Finder		14

ARTICLE III REPRESENTATIONS AND WARRANTIES OF BUYER			14

3.1	Existence		14
3.2	Corporate Authorization and Power		15
3.3	Governmental Authorization		15
3.4	Noncontravention		15
3.5	Absence of Litigation		15
3.6	FCC Qualifications		15
3.7	Financing		16
3.8	No Finder		16

ARTICLE IV COVENANTS			16

4.1	Governmental Approvals		16
4.2	Conduct of Business		17
4.3	Access to Information; Inspections; Confidentiality; Publicity		18
4.4	Risk of Loss		20


		Page
4.5	Consents to Assignment; Estoppel Certificates		20
4.6	Notification		21
4.7	Employee Matters		21
4.8	Title Insurance; Surveys		23
4.9	Environmental		24
4.10	Further Assurances		24
4.11	No Shop		24
4.12	No Inconsistent Action; Notice		25
4.13	Seller’s Actions		25

ARTICLE V CONDITIONS PRECEDENT			25

5.1	To Buyer’s Obligations		25
5.2	To Seller’s Obligations		26

ARTICLE VI DOCUMENTS TO BE DELIVERED AT THE CLOSING			27

6.1	Documents to be Delivered by Both Parties		27
6.2	Documents to be Delivered by Seller		27
6.3	Documents to be Delivered by Buyer		28

ARTICLE VII SURVIVAL INDEMNIFICATION			28

7.1	Survival		28
7.2	Indemnification		28
7.3	Procedures		30
7.4	Computation of Indemnifiable Losses		30
7.5	Sole Remedy		31

ARTICLE VIII TERMINATION RIGHTS			31

8.1	Termination		31
8.2	Effect of Termination		33

ARTICLE IX TAX MATTERS			33

9.1	Bulk Sales		33
9.2	Transfer Taxes		33
9.3	Taxpayer Identification Numbers		33

ARTICLE X OTHER PROVISIONS			33

10.1	Expenses		33
10.2	Benefit and Assignment		33
10.3	No Third Party Beneficiaries		34
10.4