INTERIM REPORT

For the nine months ended September 30, 2010

President’s Message

For the three months ending September 30, 2010, Glacier Media Inc.’s (“Glacier” or the “Company”) revenue increased 8.0% to $54.9 million from $50.8 million for the year prior.  Cash flow from operations (before changes in non-cash operating accounts and non-recurring items) improved 46.5% to $7.0 million and earnings before interest, taxes and amortization (EBITA) increased 43.0% to $8.1 million compared to the same period last year.  Net income decreased $1.3 million to $2.9 million compared to the same period last year (net income included a non-cash future income tax recovery of $2.4 million in the third quarter of 2009).