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EXHIBIT 10.17
[NBC LETTERHEAD]
December 15, 1995
Xxxxx Broadcasting Group, Inc.
000 Xx Xxxxx
Xxxxx Xxxxxxx, Xxxxxxxxxx 00000
Attention: Xxxxxx X. Xxxxx
Dear Xxx:
This letter agreement sets forth our mutual agreements with
respect to the affiliation with the NBC Television Network ("NBC") of WEYI-TV
(Flint-Saginaw), a broadcast television station to be licensed to Xxxxx
Television of Michigan License, L.P. ("Xxxxx"), an entity controlled by Xxxxx
Broadcasting Group, Inc. Xxxxx and NBC hereby agree as follows:
1. Xxxxx will complete its purchase of WEYI on January
3, 1996 and, accordingly, as of such xxxx Xxxxx will be party to the
Affiliation Agreement dated July 10, 1995 between NBC and WEYI Associates
(predecessor-in-interest to Xxxxx) (the "Flint Agreement"). NBC grants its
consent to the assignment of the Flint Agreement to Xxxxx, and Xxxxx agrees to
assume the Flint Agreement concurrent with its purchase of the licensee of
WEYI-TV. NBC and Xxxxx agree to the following amendments to the Flint
Agreement:
- The initial term of the Flint Agreement will be
extended to December 31, 2005. NBC agrees to increase WEYI's Network Station
Rate from $680 to $750 as of January 1, 2000.
- On a one-time basis, NBC will reimburse WEYI for 50%
of the cost of upgrading WEYI's transmitter antenna up to a maximum aggregate
reimbursement obligation by NBC of $275,000.
- NBC will consider in good faith agreeing to pay WEYI
additional consideration of up to $40,000 per year in the event that WEYI
clears a fourth hour of XXX Xxxxxxx Programming earlier than the date required
pursuant to the terms of the Flint Agreement; NBC will make such determination
based on the date as of which WEYI can first commence clearance of such fourth
XXX Xxxxxxx hour.
2. This letter agreement is a valid, binding and
enforceable agreement. We agree to work together diligently to prepare final
documentation with respect to Section 1 above. The benefits of this letter
agreement are personal to Xxxxx and
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therefore may not be assigned or transferred to any other entity. Each of us
agrees to keep the terms of this letter agreement confidential.
Please indicate your agreement to the foregoing by signing in
the space indicated below:
Very truly yours,
NBC TELEVISION NETWORK
By: /s/ XXXX XXXXXXX
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Name: Xxxx Xxxxxxx
Title: SR VP AFFILIATE RELATIONS
AGREED AND ACCEPTED:
XXXXX BROADCASTING GROUP, INC.,
On behalf of Xxxxx Television of
Michigan, License, L.P.
By: /s/ XXXXXX X. XXXXX
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Name: Xxxxxx X. Xxxxx
Title: President
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