Exhibit 10.32
AK MEDIA GROUP, INC.
0000 Xxxxx Xxxxxx
Xxxxx 0000
Xxxxxxx, Xxxxxxxxxx 00000
January 22, 1999
Mr. K. Xxxxx Xxxxx, President
Benedek Broadcasting Corporation
000 Xxxx Xxxxxx
Xxxxxxxx, Xxxxxxxx 00000
Re: Time Brokerage Agreement (the "KCOY TBA") dated as of December 30,
1998 by and between Benedek Broadcasting Corporation ("Licensee") and
AK Media Group, Inc. ("Programmer")
Dear Xx. Xxxxx:
This will confirm our agreement to modify the KCOY TBA in the following
respects.
1. Programmer shall employ all of the employees of KCOY (the "Station"), other
than Xxxxxx XxXxxxxxx, the Station's Manager, and Xxxxxx Xxxxxxxx, the Station's
Chief Engineer. In the event that the KCOY TBA terminates without a Closing
under the Exchange Agreement, Licensee shall rehire the employees of the Station
employed by the Station on the date of termination who were Licensee's employees
on January 31, 1999; provided that Licensee shall have the right but not the
obligation to hire any employees of the station hired by Programmer during the
term of the KCOY TBA. The "Employee Related Amount" (Attachment I, Section
1.(a)) shall refer to the expenses related to the Licensee's employees.
2. Programmer shall perform pursuant to and consistent with the Programming
Agreements for the Licensee Programming under the supervision and control of the
Licensee; however the Programming Agreements shall only be assigned to
Programmer at Closing or as otherwise permitted by the KCOY TBA.
3. Programmer will assume responsibility for fulfilling all orders for
advertising on the Station.
4. Programmer will collect all advertising and promotion-related revenues,
including revenues attributable to the Licensee's Term. Programmer shall pay on
behalf of Licensee all costs and expenses relating to the Licensee's Term. Such
revenues and costs and expenses attributable to the Licensee's Term shall be
reconciled in accordance with the proration provisions of the KCOY TBA. All cash
on hand on the effective date of this amendment shall
Mr. K. Xxxxx Xxxxx
January 22, 1999
Page 2
remain the property of Licensee. Licensee hereby constitutes and appoints
Programmer, its successors and assigns the true and lawful attorney of Licensee
with full power of substitution, in the name of Programmer, or the name of
Licensee, on behalf of and for the benefit of Licensee, to collect all accounts
receivable of Licensee, to endorse, without recourse, checks, notes and other
instruments in the name Licensee, to institute and prosecute, in the name of
Licensee or otherwise, all proceedings which Licensee may deem proper in order
to collect, assert or enforce any claim, right or title of any kind in or to the
accounts receivable of Licensee, to defend and compromise any and all actions,
suits or proceedings in respect of any of the accounts receivable of Licensee,
and to do all such acts and things in relation thereto as Programmer may deem
advisable. Licensee agrees that the foregoing powers are coupled with an
interest and so long as the KCOY TBA shall be in effect, shall be irrevocable by
Licensee directly or indirectly in any manner or for any reason.
5. The foregoing modifications shall become effective February 1, 1999.
6. In all other respects, the KCOY TBA shall remain in full force and effect.
Capitalized terms used herein not otherwise defined shall have the meanings
ascribed to them in the KCOY TBA.
Sincerely,
/s/ Xxxxx X. Xxxxxx
-------------------
Xxxxx X. Xxxxxx
Secretary/Treasurer
Agreed:
Benedek Broadcasting Corporation
By: /s/ Xxxxxx Xxxxxxxx
----------------------------
Name: Xxxxxx Xxxxxxxx
Title: Senior Vice President
Date: January 22, 1999
