CTN Media Group, Inc (the Company) commenced operations in 1991 as a Delaware corporation. The Company is a targeted media company specializing in reaching young adults. As of December 31, 2001, the Company operated College Television Network and its related website Collegetelevision.com.

Prior to the 2001, the Company operated as two reportable segments: CTN and MPM. The Company sold MPM on July 10, 2001. CTN includes the operations of the College Television Network (the Network), Link, iD8 and Wetair.com.

The College Television Network System (CTN)

The Network’s revenue is primarily derived from commercial advertising. The Company presently allots eight minutes of advertising available per hour, however, if sales increase it may increase the amount of advertising up to 16 minutes per hour. National advertisers on the Network during fiscal 2001 included AOL / Time Warner (Warner Bros.); AT&T Corporation; The Andrew Jergens Co. (Biore); Best Buy Company, Inc.; Bristol Meyers Squibb (Clairol); Burger King Corporation; Duckhead Apparel Company, Inc.; Hershey Foods Corporation; Johnson & Johnson; Kellogg Company; K-Swiss, Inc.; Levi Strauss & Co.; New Line Cinema Corporation; Proctor and Gamble Co.; Reebok International; S.C. Johnson & Son Co.; Sony Corporation; Twentieth Century Fox Home Entertainment (News America Group); U.S. Army; Visa International Service Association; The Walt Disney Company; and Wendy’s International. The Company’s mix of advertisers on the Network changes from time to time.

The Network’s programming consists primarily of music, news, information and entertainment. The Network’s music programming is provided to the Company free of charge by major music companies, including Warner/Elektra/ Atlantic, Columbia/Epic, Interscope/MCA/Universal, Arista/RCA, Capital and Virgin.