EXHIBIT 10.32
August 3, 2006
Media & Entertainment Holdings, Inc.
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Lazard Capital Markets LLC
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Ladenburg ▇▇▇▇▇▇▇▇ & Co. Inc.
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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 ▇▇▇▇▇▇▇▇ & 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 ▇▇▇▇▇▇ agrees to vote against
such proposal. This agreement may not be modified or amended under any
circumstances.
Very truly yours,
/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
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/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, ▇▇.
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/s/ ▇▇▇▇▇ ▇▇▇▇▇▇
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/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇
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/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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/s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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TRANSMEDIA CORPORATION
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
HEARST CORPORATION
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Title: Senior VP and CFO
Agreed and Accepted:
MEDIA & ENTERTAINMENT
HOLDINGS, INC.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇
Title: President and Chief Operating Officer
LAZARD CAPITAL MARKETS LLC
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇.
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Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇.
Title: Managing Director
LADENBURG ▇▇▇▇▇▇▇▇ & CO. INC.
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: Managing Director