EXHIBIT 10.32
August 3, 2006
Media & Entertainment Holdings, Inc.
0000 Xxxxxxxxx Xxxxxx
Xxxxxx, Xxxxx 00000
Lazard Capital Markets LLC
00 Xxxxxxxxxxx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Ladenburg Xxxxxxxx & Co. Inc.
000 Xxxx 00xx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
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Re: Media & Entertainment Holdings, Inc. ("Company")
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Gentlemen:
For good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, each of the undersigned hereby agrees with the
Company, Lazard Capital Markets LLC and Ladenburg Xxxxxxxx & Co. Inc. to not
propose, or vote in favor of, any amendment to the Company's Certificate of
Incorporation to extend the period of time in which the Company must consummate
a business combination (as is more fully described in the Company's Prospectus
relating to the Company's initial public offering) prior to its liquidation.
Should such a proposal be put before stockholders other than through actions by
any of the undersigned, each of the undersigned xxxxxx agrees to vote against
such proposal. This agreement may not be modified or amended under any
circumstances.
Very truly yours,
/s/ Xxxxxxx X. Xxxxxxx
-----------------------------
Xxxxxxx X. Xxxxxxx
/s/ Xxxxxx X. Xxxxxxxxx
-----------------------------
Xxxxxx X. Xxxxxxxxx
/s/ Xxxxxx X. Xxxxxxx, Xx.
-----------------------------
Xxxxxx X. Xxxxxxx, Xx.
/s/ Xxxxx Xxxxxx
-----------------------------
Xxxxx Xxxxxx
/s/ Xxxxxxx X. Xxxxx
-----------------------------
Xxxxxxx X. Xxxxx
/s/ Xxxxxx X. Xxxxxx
-----------------------------
Xxxxxx X. Xxxxxx
/s/ Xxxxxxx X. Xxxxxx
-----------------------------
Xxxxxxx X. Xxxxxx
TRANSMEDIA CORPORATION
By: /s/ Xxxxxx X. Xxxxxxxxx
-------------------------
Name: Xxxxxx X. Xxxxxxxxx
HEARST CORPORATION
By: /s/ Xxxxxx X. Xxxxxxxx
-------------------------
Name: Xxxxxx X. Xxxxxxxx
Title: Senior VP and CFO
Agreed and Accepted:
MEDIA & ENTERTAINMENT
HOLDINGS, INC.
By: /s/ Xxxxxx X. Xxxxxxxxx
---------------------------
Name: Xxxxxx X. Xxxxxxxxx
Title: President and Chief Operating Officer
LAZARD CAPITAL MARKETS LLC
By: /s/ Xxxxx X. XxXxxxxx, Xx.
---------------------------
Name: Xxxxx X. XxXxxxxx, Xx.
Title: Managing Director
LADENBURG XXXXXXXX & CO. INC.
By: /s/ Xxxxxx Xxxxxx
---------------------------
Name: Xxxxxx Xxxxxx
Title: Managing Director
