EXHIBIT 10.32
August 3, 2006
Media & Entertainment Holdings, Inc.
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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 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 hereby agrees to vote against such proposal. This agreement may not
be modified or amended under any circumstances.
Very truly yours,
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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
LADENBURG ▇▇▇▇▇▇▇▇ & CO. INC.
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: Managing Director
