[LOGO]
October 12, 1999
Xxxxx X. Xxxxx XXX
Xxxxxxxxxxxx.xxx
0000 Xxx Xxxxxx, Xxx. 0000
Xxxxxx, XX 00000
Xxxxx,
We are excited about the opportunity to provide Xxxxxxxxxxxx.xxx access to our
award-winning news and the country's premier urban radio network. As we work to
develop a formal agreement, please accept this letter of intent for the services
that Bloomberg L.P. will commit to this partnership.
I have summarized the Internet data and advertising objecives we discussed.
Currently, our attorneys are drafting a formal agreement which should be
completed no later than October 15th. As you look over this description of
services, please remember these deal points are being reviewed by our legal
staff. While we do not anticipate any major changes, some elements may be
altered.
Thank you for your time and attention. We look forward to a fruitful partnership
with xxxxxxxxxxxx.xxx. If you have any questions or comments, I can be reached
at 000-000-0000 or call Xxxxxx Xxxxx at 000-000-0000.
Thanks again,
Sincerely,
/s/Xxxxx Xxxxxxxxx
-----------------------
Multimedia Syndication Manager
Bloomberg will provide three pages of co-branded Internet content. Each page
will consist of the following:
Page One
o Four headlines from NI Diversity
NI Diversity is a real-time, news wire created by Xxxxxxxxxx and is solely
dedicated to news of interest to African-Americans, Hispanics and
minorities.
o Bloomberg Quote Box
The quote box will allow your visitors to enter ticker symbols to receive
up to the minute price quotes and news on their companies of interest. When
accessing company news they will be linked back to Xxxxxxxxx.xxx
o BAPI (Bloomberg Amalgamated Publishers Index): last, change, % change, high,
low, open
The BAPI (created by Bloomberg) is the first index to track the performance
of African-American owned, publicly traded companies. Your visitors can
monitor the performance of these companies and access company news.
**Note--Bloomberg will reserve the right to sell advertising adjacent to this
content.
o BAPI three month graph
o Market Snapshot: DOW, NASDAQ
Your visitors can monitor the performance of these indices via graphs,
directional and percent changes, as well as high, low and opening numbers.
These figures are updated every three minutes.
o Bloomberg On-Demand Audio: The Urban Business Report & Top Business Stories
**Note--Bloomberg will reserve the right to sell advertising adjacent to this
content.
o Bloomberg Market Monitor
Page Two
o Short form quote result page
Results from the quote box will post on this page. This data will include
the latest numbers, graphs, company profile, and key data (earnings,
historical pricing, etc.).
o Company news headlines w/link back to Xxxxxxxxx.xxx
Page Three
o Full news stories from NI Diversity
Agreement Terms
Xxxxxxxxxxxx.xxx will agree to pay $66,666 per month ($800,000 per year) to
Bloomberg L.P. Because this cost includes both Internet data and advertising,
this cost is net to Bloomberg (specific network advertising schedule to be
provided).
Term is three years. Both parties will commit to two years with the option to
terminate during the third year.
