1.	Legal Name of the Applicant  CRAIN MEDIA GROUP, LLC`
	Mailing Address 200 SOUTH COMMERCE SUITE 702
	City LITTLE ROCK		State or Country (if foreign address) AR	ZIP Code 72201 -
	Telephone Number (include area code) 5015370720		E-Mail Address (if available)
	FCC Registration Number: 0009727447	Call Sign	Facility ID Number  11743
2.	Contact Representative (if other than Licensee/Permittee) ELIOT J. GREENWALD, ESQ.		Firm or Company Name SWIDLER BERLIN SHEREFF FRIEDMAN, LLP
	Telephone Number (include area code) 2024247500		E-Mail Address (if available) EJGREENWALD@SWIDLAW.COM
3.	Name of entity, if other than licensee or permittee, for which report is filed CRAIN MEDIA GROUP, LLC`
	Mailing Address 200 SOUTH COMMERCE SUITE 702
	City LITTLE ROCK		State or Country (if foreign address) AR	ZIP Code 72201 -
	Telephone Number (include area code) 5015370720		E-Mail Address (if available)
4.	If this application has been submitted without a fee, indicate reason for fee exemption (see 47 C.F.R. Section 1.1114): Governmental Entity Fee-exempt Report Other N/A (Fee Required)

Section II - Ownership Information

5.	a. Biennial b. Transfer of Control or Assignment of License/Permit c. Other d. Amendment to pending application for the following stations: [Enter Station Information] Station List This Report is filed for the following stations: Call Letters Facility ID Number Location (City/State) Class of service KWCK 11743 SEARCY AR AM Call Letters Facility ID Number Location (City/State) Class of service KWCK-FM 11744 SEARCY AR FM Call Letters Facility ID Number Location (City/State) Class of service KAWW 48742 HEBER SPRINGS AR AM Call Letters Facility ID Number Location (City/State) Class of service KAWW-FM 48748 HEBER SPRINGS AR FM Call Letters Facility ID Number Location (City/State) Class of service KAPZ 31713 BALD KNOB AR AM Call Letters Facility ID Number Location (City/State) Class of service KKSY 31452 BALD KNOB AR FM Call Letters Facility ID Number Location (City/State) Class of service KSMD 87603 PANGBURN AR FM All of the information furnished in this Report is accurate as of 01/09/2004 (Date must comply with 47 C.F.R. Section 73.3615(a), i.e., information must be current within 60 days of filing of this report, when 5(a) below is checked.) This Report is filed for (check one)
6.	Respondent is: Sole proprietorship Not-for-profit corporation Limited partnership For-profit corporation General partnership Other If "Other", describe nature of the respondent in an Exhibit. [Exhibit 1]
7.	List all contracts and other instruments required to be filed by 47 C.F.R. Section 73.3613.   (Only licensees, permittees, or a reporting entity with a majority interest in or that otherwise exercises de facto control over the subject licensee or permittee shall respond.) [Enter Contract/Instrument Information] Contracts/Instruments Information List all contracts and other instruments required to be filed by 47 C.F.R. Section 73.3613. (Only licensees, permittees, or a reporting entity with a majority interest in or that otherwise exercises de facto control over the subject shall respond.) Description of contract or instrument Name of person or organization with whom contract is made Date of Execution Date of Expiration CRAIN MEDIA GROUP, LLC ARTICLES OF ORGANIZATION 09/30/2003 Description of contract or instrument Name of person or organization with whom contract is made Date of Execution Date of Expiration CRAIN MEDIA GROUP, LLC OPERATING AGREEMENT 10/09/2003 Description of contract or instrument Name of person or organization with whom contract is made Date of Execution Date of Expiration CRAIN INVESTMENTS, LP CERTIFICATE OF DOMESTIC LIMITED PARTNERSHIP 12/30/1997 Description of contract or instrument Name of person or organization with whom contract is made Date of Execution Date of Expiration CRAIN INVESTMENTS, LP AGREEMENT OF LIMITED PARTNERSHIP 12/30/1997 Description of contract or instrument Name of person or organization with whom contract is made Date of Execution Date of Expiration CRAIN MANAGEMENT GROUP, LLC CERTIFICATE OF ORGANIZATION 08/26/1996 Description of contract or instrument Name of person or organization with whom contract is made Date of Execution Date of Expiration CRAIN MANAGEMENT GROUP, LLC OPERATING AGREEMENT 12/29/1994
8.	Capitalization (Only licensees, permittees, or a reporting entity with a majority interest in or that otherwise exercises de facto control over the subject licensee or permittee shall respond.) [Enter Capitalization Information]
9.	(a.) List the respondent, and, if other than a natural person, its officers, directors, stockholders and other entities with attributable interests, non-insulated partners and/or members. If a corporation or partnership holds an attributable interest in the respondent, list separately its officers, directors, stockholders and other entities with attributable interests, non-insulated partners and/or members. Create a separate row for each individual or entity. Attach supplemental pages, if necessary. [Enter Owner Information] (b) Respondent certifies that equity and financial interests not set forth in response to Question 9(a) are non-attributable. Yes No N/A See Explanation in [Exhibit 2] (c) Is the respondent or any party holding an attributable interest in the respondent also the holder of an attributable interest in any other broadcast station or in any cable or newspaper entities in the same market or with overlapping signals in the same broadcast service, as described in 47 C.F.R. Sections 73.3555 and 76.501? Yes No If "Yes", submit an Exhibit identifying the holder of that other attributable interest, listing the call signs, locations and facilities identifiers of such other broadcast stations, and describing the nature and size of the ownership interest and the positions held in the other broadcast, cable or newspaper entities. [Exhibit 3] (d) Are any of the individuals listed in response to Question 9(a) related as parent-child, husband-wife, brothers and sisters? Yes No   If "Yes", submit an Exhibit setting forth full information as to the family relationship [Exhibit 4] (e) Is respondent seeking an attribution exemption for any officer or director with duties unrelated to the licensee or permittee? If "Yes", submit an Exhibit identifying that individual by name and title, fully describing that individual's duties and responsibilities, and explaining why that individual should not be attributed an interest. Yes No [Exhibit 5]

I certify that I am MANAGING MEMBER

of CRAIN MANAGEMENT GROUP, LLC

and that I have examined this Report and that to the best of my knowledge and belief, all statements in this Report are true, correct and complete.

(Date of certification must be within 60 days of the date shown in Question 5, Section II and in no event prior to that date.)