EXHIBIT 10.32
August 3, 2006
Media & Entertainment Holdings, Inc.
0000 Xxxxxxxxx Xxxxxx
Xxxxxx, Xxxxx 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 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 hereby agrees to vote against such proposal. This agreement may not
be modified or amended under any circumstances.
Very truly yours,
/s/ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx
/s/ Xxxxxx X. Xxxxxxxxx
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Xxxxxx X. Xxxxxxxxx
/s/ Xxxxxx X. Xxxxxxx, Xx.
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Xxxxxx X. Xxxxxxx, Xx.
/s/ Xxxxx Xxxxxx
-----------------------------
Xxxxx Xxxxxx
/s/ Xxxxxxx X. Xxxxx
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Xxxxxxx X. Xxxxx
/s/ Xxxxxx X. Xxxxxx
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Xxxxxx X. Xxxxxx
/s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx
TRANSMEDIA CORPORATION
By: /s/ Xxxxxx X. Xxxxxxxxx
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Name: Xxxxxx X. Xxxxxxxxx
HEARST CORPORATION
By: /s/ Xxxxxx X. Xxxxxxxx
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Name: Xxxxxx X. Xxxxxxxx
Title: Senior VP and CFO
Agreed and Accepted:
MEDIA & ENTERTAINMENT
HOLDINGS, INC.
By: /s/ Xxxxxx X. Xxxxxxxxx
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Name: Xxxxxx X. Xxxxxxxxx
Title: President and Chief Operating Officer
LADENBURG XXXXXXXX & CO. INC.
By: /s/ Xxxxxx Xxxxxx
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Name: Xxxxxx Xxxxxx
Title: Managing Director
