Delaware		74-2717523
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification Number)

888 Seventh Avenue		(212) 887-6800
New York, NY 10106		(Registrant’s telephone number,
(Address of principal executive offices)		including area code)

				Page No.
Part I		Financial Information
Item 1.		Financial Statements
		Condensed Consolidated Balance Sheets as of June 30, 2002 (unaudited) and     December 31, 2001		1
		Condensed Consolidated Statements of Income for the Three and Six Months Ended
		June 30, 2002 and 2001 (unaudited)		3
		Condensed Consolidated Statements of Cash Flows for the Six Months Ended
		June 30, 2002 and 2001 (unaudited)		4
		Notes to Condensed Consolidated Financial Statements		6
Item 2.		Management’s Discussion and Analysis of Financial Condition and Results of Operations		10
Item 3.		Quantitative and Qualitative Disclosures about Market Risk		15
Part II		Other Information
Item 4.		Submission of Matters to a Vote of Security Holders		15
Item 5.		Other Information		16
Item 6.		Exhibits and Reports on Form 8-K		16
Signatures				17

		June 30, 2002 (Unaudited)			December 31, 2001
		(In thousands)
Assets
Current assets:
Cash and cash equivalents		$	4,359		$	3,260
Accounts receivable, net			141,838			142,146
Program and barter rights			16,180			54,917
Deferred income taxes			4,085			3,733
Other			5,261			5,891
Total current assets			171,723			209,947
Property, plant and equipment, net			320,417			328,257
Goodwill			799,527			799,527
Intangible assets, net			2,357,062			2,357,117
Other assets:
Deferred acquisition and financing costs, net			18,813			20,259
Investments			27,987			30,308
Program and barter rights, noncurrent			2,231			3,272
Other			31,516			31,018
Total other assets			80,547			84,857
Total assets		$	3,729,276		$	3,779,705

		June 30, 2002 (Unaudited)				December 31, 2001
		(In thousands)
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable		$	13,165			$	14,375
Accrued liabilities			64,108				59,565
Program and barter rights payable			15,578				53,930
Payable to The Hearst Corporation			230				2,612
Other			3,245				3,658
Total current liabilities			96,326				134,140
Noncurrent liabilities:
Program and barter rights payable, noncurrent			4,098				5,045
Long-term debt			1,082,152				1,160,205
Deferred income taxes			810,028				792,327
Other liabilities			17,393				21,374
Total noncurrent liabilities			1,913,671				1,978,951
Convertible preferred securities			200,000				200,000
Stockholders’ equity:
Series A preferred stock			1				1
Series B preferred stock			1				1
Series A common stock			541				537
Series B common stock			413				413
Additional paid-in capital			1,279,186				1,270,908
Retained earnings			319,836				275,453
Treasury stock, at cost			(80,699	)			(80,699	)
Total stockholders’ equity			1,519,279				1,466,614
Total liabilities and stockholders’ equity		$	3,729,276			$	3,779,705

		Three Months Ended June 30,						Six Months Ended June 30,
		2002			2001			2002			2001
		(Unaudited) (In thousands, except per share data)
Total revenues		$	182,303		$	176,368		$	337,225		$	324,710
Station operating expenses			79,826			80,824			159,103			160,326
Amortization of program rights			14,650			14,438			29,589			28,454
Depreciation and amortization			10,476			32,849			20,921			65,152
Station operating income			77,351			48,257			127,612			70,778
Corporate general and administrative expenses			4,394			3,837			8,239			7,533
Operating income			72,957			44,420			119,373			63,245
Interest expense, net			18,786			24,974			37,163			53,466
Trust preferred dividends			3,750			—			7,500			—
Other income, net			299			—			299			48,778
Equity in loss of affiliates			1,226			1,477			2,276			3,038
Income before income taxes			49,494			17,969			72,733			55,519
Income taxes			18,715			8,266			27,639			25,539
Net income			30,779			9,703			45,094			29,980
Less preferred stock dividends			355			355			711			711
Income applicable to common stockholders		$	30,424		$	9,348		$	44,383		$	29,269
Income per common share – basic:		$	0.33		$	0.10		$	0.48		$	0.32
Number of common shares used in the calculation			92,099			91,767			91,985			91,815
Income per common share – diluted:		$	0.33		$	0.10		$	0.48		$	0.32
Number of common shares used in the calculation			92,683			91,976			92,401			92,054

		Six Months Ended June 30,
		2002				2001
		(Unaudited)
		(In thousands)
Operating Activities
Net income		$	45,094			$	29,980
Adjustments to reconcile net income to net cash provided by operating activities:
Other income, net			—				(48,778	)
Amortization of intangible assets			55				43,984
Amortization of program rights			29,589				28,454
Program payments			(29,158	)			(28,571	)
Depreciation			20,866				21,168
Deferred income taxes			17,349				9,105
Equity in loss of affiliates			2,276				3,038
Amortization of deferred financing costs			1,456				1,475
Provision for doubtful accounts			2,976				896
Changes in operating assets and liabilities, net			(5,655	)			9,555
Net cash provided by operating activities			84,848				70,306
Investing Activities
Purchases of property, plant, and equipment: