Exhibit 4.17




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##### 



TABLE OF CONTENTS
 
 PageARTICLE 1DefinitionsSection 1.01. Defined Terms
    
    
    1Section 1.02. Terms Generally
    
    
    15Section 1.03. Accounting Terms; Changes in GAAP
    
    
    15ARTICLE 2The CreditsSection 2.01. Commitments
    
    
    16Section 2.02. Method of Borrowing
    
    
    16Section 2.03. Funding of Loans
    
    
    16Section 2.04. Method of Electing Interest Periods
    
    
    17Section 2.05. Payment at Maturity; Evidence of Debt
    
    
    18Section 2.06. Optional and Mandatory Prepayments
    
    
    18Section 2.07. Fees
    
    
    19Section 2.08. Interest
    
    
    19Section 2.09. Substitute Rate of Interest
    
    
    20Section 2.10. Increased Costs
    
    
    22Section 2.11. Illegality
    
    
    23Section 2.12. Break Funding Payments
    
    
    23Section 2.13. Taxes
    
    
    24Section 2.14. Payments Generally; Pro Rata Treatment; Sharing of Set-offs
    
    
    27Section 2.15. Substitute Rate Loans Substituted for Affected Loans
    
    
    28Section 2.16. Lenders Obligation to Mitigate; Replacement of Lenders
    
    
    28ARTICLE 3Representations and WarrantiesSection 3.01. Organization; Powers
    
    
    29Section 3.02. Authorization; Enforceability
    
    
    29Section 3.03. Governmental Approvals; No Conflicts
    
    
    30Section 3.04. Financial Statements; No Material Adverse Change
    
    
    30Section 3.05. Properties
    
    
    31Section 3.06. Litigation and Environmental Matters
    
    
    31Section 3.07. Compliance with Laws and Agreements
    
    
    31Section 3.08. Investment Company Status; Regulatory Restrictions on Borrowing
    
    
    32Section 3.09. Federal Reserve Regulations
    
    
    32Section 3.10. Taxes
    
    
    32Section 3.11. Disclosure
    
    
    33Section 3.12. Subsidiaries
    
    
    33Section 3.13. Solvency
    
    
    33Section 3.14. Rank of Debt
    
    
    33Section 3.15. No Immunity
    
    
    33




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##### 



PageARTICLE 4ConditionsSection 4.01. Conditions
    
    
    34ARTICLE 5Affirmative CovenantsSection 5.01. Financial Statements and Other Information
    
    
    36Section 5.02. Notice of Material Events
    
    
    37Section 5.03. Existence; Conduct of Business
    
    
    37Section 5.04. Payment of Tax Obligations
    
    
    37Section 5.05. Maintenance of Properties
    
    
    38Section 5.06. Insurance
    
    
    38Section 5.07. Proper Records; Rights to Inspect and Appraise
    
    
    38Section 5.08. Compliance with Laws
    
    
    38Section 5.09. Use of Proceeds
    
    
    38Section 5.10. Currency Hedging
    
    
    38ARTICLE 6Negative CovenantsSection 6.01. Debt
    
    
    39Section 6.02. Liens
    
    
    40Section 6.03. Fundamental Changes
    
    
    41Section 6.04. Investments, Loans, Advances, Guarantees and Acquisitions
    
    
    41Section 6.05. Asset Sales
    
    
    42Section 6.06. Sale and Leaseback Transactions
    
    
    42Section 6.07. Hedging Agreements
    
    
    42Section 6.08. Restricted Payments
    
    
    43Section 6.09. Transactions with Affiliates
    
    
    43Section 6.10. Restrictive Agreements
    
    
    43Section 6.11. Amendment of Material Documents
    
    
    44Section 6.12. Capital Expenditures
    
    
    44Section 6.13. Interest Expense Coverage Ratio
    
    
    44Section 6.14. Leverage Ratio
    
    
    44Section 6.15. Fiscal Year
    
    
    44ARTICLE 7Events of DefaultSection 7.01. Events Of Default
    
    
    44ARTICLE 8The Administrative AgentSection 8.01. Appointment and Authorization
    
    
    47Section 8.02. Rights and Powers as a Lender
    
    
    47Section 8.03. Limited Duties and Responsibilities
    
    
    47Section 8.04. Authority to Rely on Certain Writings, Statements and Advice
    
    
    48Section 8.05. Sub-Agents and Related Parties
    
    
    48Section 8.06. Resignation; Successor Administrative Agent
    
    
    48Section 8.07. Credit Decisions by Lenders
    
    
    48
  ii




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PageARTICLE 9MiscellaneousSection 9.01. Notices
    
    
    49Section 9.02. Waivers; Amendments
    
    
    50Section 9.03. Expenses; Indemnity; Damage Waiver
    
    
    51Section 9.04. Successors and Assigns
    
    
    52Section 9.05. Survival
    
    
    55Section 9.06. Counterparts; Integration; Effectiveness
    
    
    55Section 9.07. Severability
    
    
    55Section 9.08. Right of Set-off
    
    
    55Section 9.09. Governing Law; Jurisdiction; Consent to Service of Process
    
    
    56Section 9.10. Appointment of Agent For Service of Process
    
    
    56Section 9.11. Waiver of Immunity
    
    
    57Section 9.12. Judgment Currency
    
    
    57Section 9.13. WAIVER OF JURY TRIAL
    
    
    58Section 9.14. Use of English Language
    
    
    58Section 9.15. Headings
    
    
    58Section 9.16. Confidentiality
    
    
    58Section 9.17. USA Patriot Act
    
    
    59
 SCHEDULES:Schedule 2.01
    
    
    
    CommitmentsSchedule 3.05
    
    
    
    Existing Real PropertiesSchedule 3.06
    
    
    
    Disclosed MattersSchedule 3.12
    
    
    
    List of SubsidiariesSchedule 6.01
    
    
    
    Existing DebtSchedule 6.02
    
    
    
    Existing LiensSchedule 6.10
    
    
    
    Existing RestrictionsEXHIBITS:Exhibit A
    
    
    
    Form of AssignmentExhibit B-1
    
    
    
    Form of Opinion of special New York counsel to the BorrowerExhibit B-2
    
    
    
    Form of Opinion of Mexican counsel to the BorrowerExhibit B-3
    
    
    
    Form of Opinion of special New York counsel to the
Administrative AgentExhibit B-4
    
    
    
    Form of Opinion of special Mexican counsel to the
Administrative AgentExhibit C
    
    
    
    Form of NoteExhibit D
    
    
    
    Form of Borrowing RequestExhibit E
    
    
    
    Form of Notice of Interest Period ElectionExhibit F
    
    
    
    Terms of Subordination
  iii




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##### 



sociedad anónima bursátil de capital variable Borrower
  ARTICLE 1  Definitions
 Defined Terms.
 Adjusted LIBO Rate
 Administrative Agent
 Administrative Agents Account
 Administrative Questionnaire
 Affiliate
 Agreement
 Applicable Margin
 LIBO RatePricing Level
    
    Leverage Ratio
    
    Margin1
    
    < 1.75:1
    
    
    0.375
    %2
    
    > 1.75:1 but < 2.25:1
    
    
    0.400
    %3
    
    > 2.25:1 but < 2.75:1
    
    
    0.425
    %4
    
    > 2.75:1 but < 3.25:1
    
    
    0.500
    %5
    
    > 3.25:1
    
    
    0.625
    %
 provided




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##### 



Asset Disposition
 Assignment
 Base Rate 1 2
 Bestel
 Bestel Acquisition provided
 Board of Directors
 Borrower
 Borrowers Account
 Borrowing
 Borrowing Request
 Business Day provided
 Cablevisión Group Companies
  2




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##### 



Capital Expenditures
 Capital Lease Obligations
 Casualty Event
 Central Bank Banco de M xico
 Change in Law
 Change of Control
 Change of Control Prepayment Notice
 Commitment
 Commitment Letter
 Compliance Certificate
 Consolidated EBITDA
  3




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##### 



Consolidated Interest Expense
 Consolidated Net Income provided
 Control Controlling Controlled
 Credit Exposure
 Debt provided provided
  4




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##### 



Default
 Disclosed Matters
 Dollars $
 Drawdown Date
 Effective Date
 Environmental Laws Ley General del Equilibrio
Ecológico y la Protección al Ambiente Ley General para la Prevención y Gestión Integral de los Residuos Ley de Aguas Nacionales
 Environmental Liability
 Equity Interests
 Equity Related Person
  5




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##### 



Eurodollar
 Events of Default
 Federal Funds Effective Rate
 Federal Reserve Board
 Financial Officer
 Financing Transactions
 Fiscal Quarter
 Fiscal Year
 Foreign Lender
 GAAP normas de información financiera
 Governmental Authority
  6




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##### 



Guarantee guarantor aval primary obligor provided
 Hazardous Materials
 Hedging Agreement
 Interest Election
 Interest Payment Date
 Interest Period provided
 Investment
 JPMorgan Chase
 Lead Arranger
  7




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##### 



Lender Affiliate
 Lender Parties
 Lenders
 Lending Office
 Letseb Note
 Leverage Ratio
 LIBO Rate BBA LIBOR
 Lien
  8




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##### 



Loan Documents
 Loans
 Margin Stock
 Material Adverse Effect
 Material Debt
 Material Subsidiary
 Mexican Stock Exchange Bolsa Mexicana de Valores, S.A.
de C.V.
 Mexican Tax Authority
 Mexico
 Maturity Date
 Moodys
  9




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##### 



Net Proceeds
 New York Court
 Notice of Interest Period Election
 Operbes Loan
 Other Taxes
 Outstanding Amount
 Participants
 Permitted Investments
     10




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##### 



Certificados de la Tesorería de la Federación Bonos de Desarrollo del Gobierno
Federal Bonos de RegulaciÓn Monetaria Bonos de ProtecciÓn al Ahorro
 Permitted Liens
 provided
   provided
    11




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##### 



provided
 Permitted Refinancing refinanced Debt refinancing Debt
 Person
 Pesos Ps
  12




---



##### 



Prepayment Event
   Prime Rate
 Process Agent
 Qualifying Hedges
 Register
 Regulation T
 Regulation U
 Regulation X
 Related Parties
 Required Lenders
 Restricted Payment
 S&P
  13




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##### 



SEC
 Statutory Reserve Adjustment
 subsidiary
 Subsidiary
 Substitute Rate
 Substitute Rate Loan
 Synthetic Purchase Agreement
 Taxes
 Televisa
 Televisa Subordinated Debt
  14




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##### 



Total Debt provided
 Trade Accounts Payable
 United States
 Voting Stock
 Wholly Owned Subsidiary
 Terms Generally. include includes including without limitation will shall herein hereof hereunder property
 Accounting Terms; Changes in GAAP. provided
  15




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##### 



ARTICLE 2  The Credits
 Commitments.
 i.e.
 Method of Borrowing. Borrowing Request
     Funding of Loans.
  16




---



##### 



Method of Electing Interest Periods. Notice of Interest Period Election
       17




---



##### 



Payment at Maturity; Evidence of Debt
   prima facie provided
 Note Notes pagaré provided
 Optional and Mandatory Prepayments Optional Prepayments
  18




---



##### 



Asset Dispositions and Casualty Events provided provided
 Change of Control. Change of Control Prepayment
Notice
 Accrued Interest
 Notice of Prepayments.
 Fees
 Interest
  19




---



##### 



provided plus
 provided
  prima facie
 Substitute Rate of Interest.
    Negotiation Period Substitute Basis
  20




---



##### 



Substitute Rate
 Substitute Rate
   21




---



##### 



Increased Costs
     prima facie
 provided
  22




---



##### 



Illegality.
 provided
 Break Funding Payments prima facie
  23




---



##### 



Taxes
 Taxes
 Other Taxes
 Qualified Jurisdiction
 provided
 provided however Ley del
Impuesto sobre la Renta
  24




---



##### 



25




---



##### 



Ley del Impuesto sobre la Renta Ley del
Impuesto sobre la Renta
   26




---



##### 



Payments Generally; Pro Rata Treatment; Sharing of Set-offs
  provided
  27




---



##### 



Substitute Rate Loans Substituted for Affected Loans.
    Lenders Obligation to Mitigate; Replacement of Lenders.
  28




---



##### 



provided
 ARTICLE 3  Representations and Warranties
  Organization; Powers
 Authorization; Enforceability. concurso mercantil
  29




---



##### 



rescate
 provided
 Governmental Approvals; No Conflicts
 Financial Statements; No Material Adverse Change
   30




---



##### 



Properties.
  Litigation and Environmental Matters
  Compliance with Laws and Agreements
   31




---



##### 



Investment Company Status; Regulatory Restrictions on Borrowing
 Federal Reserve Regulations.
  Taxes
   32




---



##### 



Disclosure provided
 Subsidiaries
 Solvency consurso mercantil Ley de Concursos Mercantiles
 Rank of Debt. pari passu
 No Immunity.
  33




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##### 



ARTICLE 4  Conditions
 Conditions
    estatutos sociales
       34




---



##### 



35




---



##### 



ARTICLE 5  Affirmative Covenants
  Financial Statements and Other Information
   Compliance Certificate
   36




---



##### 



provided
 Notice of Material Events
     Existence; Conduct of Business provided
 Payment of Tax Obligations. Ley del
Seguro Social Ley del Instituto del Fondo Nacional de la Vivienda para los Trabajadores Ley de los Sistemas de Ahorro para el Retiro
  37




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##### 



Maintenance of Properties
 Insurance
 Proper Records; Rights to Inspect and Appraise provided
 Compliance with Laws
 Use of Proceeds
 Currency Hedging. Qualifying Hedges plus
  38




---



##### 



ARTICLE 6  Negative Covenants
  Debt
    provided
 provided
 provided
    39




---



##### 



provided
 provided
 provided
 Liens
  provided
 provided
 provided
  40




---



##### 



Fundamental Changes
 Investments, Loans, Advances, Guarantees and Acquisitions Investment
     provided
   41




---



##### 



provided
 Asset Sales
  provided
 provided
 provided
 Sale and Leaseback Transactions
 Hedging Agreements
  42




---



##### 



Restricted Payments provided
    Transactions with Affiliates
 Restrictive Agreements provided provided provided
  43




---



##### 



Amendment of Material Documents estatutos sociales
 Capital Expenditures
 Fiscal Year
    
    Amount2008
    
    $
    100,000,0002009
    
    $
    100,000,0002010
    
    $
    100,000,0002011
    
    $
    100,000,0002012
    
    $
    100,000,000
 first second
 Interest Expense Coverage Ratio
 Leverage Ratio
 Fiscal Year.
  44




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##### 



ARTICLE 7  Events of Default
 Events Of Default. Events of Default
        concurso mercantil, quiebra, Ley de Concursos Mercantiles conciliador,
 concurso mercantil, quiebra, Ley de Concursos Mercantiles conciliador
  45




---



##### 



rescate provided
   46




---



##### 



ARTICLE 8  The Administrative Agent
 Appointment and Authorization.
 Rights and Powers as a Lender.
 Limited Duties and Responsibilities
  47




---



##### 



Authority to Rely on Certain Writings, Statements and Advice
 Sub-Agents and Related Parties
 Resignation; Successor Administrative Agent
 Credit Decisions by Lenders
  48




---



##### 



ARTICLE 9  Miscellaneous
 Notices
    provided
   49




---



##### 



provided
 Waivers; Amendments
 provided
     50




---



##### 



provided further
  Expenses; Indemnity; Damage Waiver provided
  51




---



##### 



Indemnitee provided
 provided pro rata share
   Successors and Assigns
  52




---



##### 



provided
   provided
     53




---



##### 



Register
  Participants provided provided provided
   54




---



##### 



provided
 Survival
 Counterparts; Integration; Effectiveness
 Severability.
 Right of Set-off
  55




---



##### 



Governing Law; Jurisdiction; Consent to Service of Process
 New York Court
  Appointment of Agent For Service of Process. Process Agent
  56




---



##### 



Waiver of Immunity
 Judgment Currency Judgment Currency
   57




---



##### 



WAIVER OF JURY TRIAL
 Use of English Language.
 Headings
 Confidentiality provided Information provided
  58




---



##### 



EACH LENDER ACKNOWLEDGES TO THE BORROWER THAT INFORMATION AS DEFINED IN THE PRECEDING
PARAGRAPH FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION
CONCERNING THE BORROWER AND ITS RELATED PARTIES OR THEIR RESPECTIVE SECURITIES, AND CONFIRMS TO
THE BORROWER THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC
INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE
PROCEDURES AND APPLICABLE LAW, INCLUDING UNITED STATES FEDERAL AND STATE SECURITIES LAWS.
 ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE BORROWER OR
THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT WILL BE
SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE BORROWER,
THE LOAN PARTIES AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES. ACCORDINGLY, EACH
LENDER REPRESENTS TO THE BORROWER AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS
ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL
NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW.
 USA Patriot Act. Act
   59




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##### 



EMPRESAS CABLEVISIÓN, S.A.B. DE C.V., 
as BorrowerBy:
    /s/ Salvi Rafael Folch Viadero / Jorge Lutteroth EchegoyenName:
    Salvi Rafael Folch Viadero / Jorge Lutteroth EchegoyenTitle:
    Attorneys-in-fact




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##### 



LENDER PARTIES:
    JPMORGAN CHASE BANK,
N.A., as Administrative
AgentBy:

/s/
Anthony O. PrewareName:
    Anthony O. PrewareTitle:
    Vice PresidentJPMORGAN CHASE BANK, N.A.,
as LenderBy:

/s/
Anthony O. PrewareName:
    Anthony O. PrewareTitle:
    Vice President




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##### 



Schedule 2.01
 Commitment Schedule
 Name of Lender
    
    TotalJPMorgan Chase Bank, N.A.
    
    $
    225,000,000Total
    
    $
    225,000,000




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##### 



Schedule 3.05 Existing Real Properties   1




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##### 



Schedule 3.05 Land owner: Tecnicable, S.A. de C.V. Location
  
  Public Deed Description1.
  
  Dr. Rio de Ia Loza 182, Col. Doctores, Delegación Cuauhtemoc, Mexico, D.F., C.P.
06720.
  
  Public deed number 33,486, dated December 6, 1994, granted before Lic. Luis Antonio
Montes de Oca Mayagoitia, Notary Public number 29 in México, Distrito Federal.2
  
  Dr. Rio de la Loza 190, Col. Doctores, Delegación Cuauhtemoc, Mexico, D.F., C.P.
06720.
  
  Public deed number 30,470, dated December 6,1994, granted before Lic. Luis Antonio
Montes de Oca Mayagoitia, Notary Public number 29 in México, Distrito Federal.3.
  
  Lago Chiem 77, Col. San Juanico Pensil, Delegación Miguel Hidalgo, México,
D.F., C.P. 11440.
  
  Public deed number 57,077 dated August 21, 2003, granted before Lic. Rafael Manuel
Oliveros Lara, Notary Public number. 45 in México Distrito Federal.4.
  
  Hacienda Zotoluca 455, Col. Hacienda Echegaray, Naucalpan, Estado de México.
  
  Public deed number 34,035 dated October 2, 2003, granted before Lic. Pedro Porcayo
Vergara, Notary Public number. 93 in México, Distrito Federal.5.
  
  Capulhuac 58, Col. Cumbria, Cuautitlan lzcalli, Estado de México.
  
  Public deed number 32,907 dated March 12, 2004, granted before Lic. Juan
Castañeda Salinas, Notary Public number 93 in the State of México.6.
  
  Federico T. de Ia Chica, Edificio 6, Ciudad Satólite, Naucalpan, Estado de
México.
  
  Public deed number 58,002 dated May 20, 2004, granted before Lic. Rafael Manuel
Oliveros Lara, Notary Public number 45 in México Distrito Federal.7.
  
  Poniente 150 No. 991, Fraccionamiento A, Lote 12, Manzana 1-A, Col. Industrial
Vallejo, Delegación Azcapotzalco, México, D.F., C.P. 02300.
  
  Public deed number 15,716 dated May 12, 2006, granted before Lic. Manuel Enrique
Oliveros Lara, Notary Public number 100 in Ciudad de México, Distrito Federal.8.
  
  Concepcion Beistegui No. 312, Col. Del Valle, Delegación Benito Juarez,
México, D.F., C.P. 03100.
  
  Public deed number 105,010 dated November 29, 2006, granted before Lic. Gerardo Correa
Etchegaray, Notary Public number 89 in México, Distrito Federal.9.
  
  Emiliano Zapata #22, Col. Santa Anita, lztacalco, Estado de México, C.P. 08300.
  
  Public deed number 16,327 dated March 21, 2007, granted before Lic. Manuel Enrique
Oliveros Lara, Notary Public number 100 in México, Distrito Federal.
   2




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##### 



Schedule 3.06
 Disclosed Matters   3




---



##### 



Schedule 3.06 The following issues are still pending to be resolved. It is important to
mention that the following pending resolutions, even if their outcome is negative, will not result in a Material
Adverse Effect against any Cablevisión Group Company pursuant to the Loan Documents. 1. Center of Arbitration Mexico. Empresas Cablevision, S.A. de C.V., Vs. Grupo Integral de Television por Cable, S.A. de C.V., Tele
Cabe Centro Occidente, S.A. de C.V., 
Telecable del Oriente, S.A. de C.V., Bestcable, S.A. de C.V., y Metrovision
del Centro, S.A. de C.V. Arbitral Trial. 
Negative Resolution. 2. Fourth District Court on Civil Matters. Empresas Cablevision, S.A. de C.V., vs. Grupo Integral de Television por Cable, S.A. de C.V., Tele Cabe Centro
Occidente, S.A. de C.V., 
Telecable del Oriente, S.A, de C.V., Bestcable, S.A. de C.V., y Metrovision del Centro,
S.A. de C.V. Nullity Incident to the Arbitration Declaration 
Expediente
No. 128/2007.   4




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##### 



Schedule 3.12 List of Subsidiaries   5




---



##### 



EMPRESAS CABLEVISION, S.A.B. DE C.V.Subsidiaries and Associate
as
of September 30, 2007 Name of Company
  
  Country of IncorporationMilar, S.A. de C.V.
  
  MexicoArgos Comunicacion, S.A. de CV, (*)
  
  MexicoCablestar, S.A. de C.V.
  
  MexicoCablevision, S.A. de C.V
  
  MexicoTercera Mirada. S.A. de C.V.
  
  MexicoGrupo Mexicano de Cable, S.A. de C.V.
  
  MexicoIntegravision de Occidente, S.A. de C.V.
  
  MexicoLa Casa de la Risa, S.A. de C.V. (1)
  
  MexicoServicios Cablevision, S.A. de C.V.
  
  MexicoTecnicable, S.A. de C.V.
  
  MexicoTelestar del Pacifico, S.A. de C.V.
  
  MexicoLetseb, S.A. de C.V.
  
  MexicoOperbes, S.A. de C.V.
  
  Mexico
 ( * ) Associate 
( 1 ) Entity with no current operations.   7




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##### 



Schedule 6.01 Existing Debt   8




---



##### 



Cablestar Bridge LoanBorrower
  
  CablestarLender
  
  Videoserpel3M Libor on 10-12-7
  
  5.1325 %Applicable Margin (bps)
  
  50.4 over Libor 3MTotal Interest Rate
  
  5.6363 %Tenor
  
  3.0 monthsEffective Date
  
  Martes-11/12/2007Maturity
  
  Martes-11/03/2008Amount
  
  325.0 millions of dollarsGuarantors
  
  Empresas Cablevision, Cablemas y TVI according to the following table
 Amount
  
  Spread
  
  Percentage of GuarantyCablevision
  
  
  225
  
  
  
  50
  
  
  
  69
  %Cablemas
  
  
  50
  
  
  
  50
  
  
  
  15
  %TVI
  
  
  50
  
  
  
  52.5
  
  
  
  15
  %
   9




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##### 



Borrower
  
  CablevisionLender
  
  Grupo Televisa3M Libor on 10-12-7
  
  4.4175 %Applicable Margin (bps)
  
  50.4 over Libor 12MTotal Interest Rate
  
  4.9213 %Tenor
  
  12.0 monthsEffective Date
  
  Jueves-20/12/2007Maturity
  
  Viernes-19/12/2008Amount
  
  8,000,000 dollarsMoratory Interest
  
  LIBOR + 250Borrower
  
  OperbesLender
  
  Cablevision3M Libor on 10-12-7
  
  4.4175%Applicable Margin (bps)
  
  50.4 over Libor 12MTotal Interest Rate
  
  4.9213 %Tenor
  
  12.0 monthsEffective Date
  
  Jueves-20/12/2007Maturity
  
  Viernes-19/12/2008Amount
  
  8,000,000 dollarsMoratory Interest
  
  LIBOR + 250
  10




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##### 



Borrower
  
  OperbesLender
  
  Grupo Televisa3M Libor on 10-12-7
  
  5.1325 %Applicable Margin (bps)
  
  50.4 over Libor 3MTotal Interest Rate
  
  5.6363 %Tenor
  
  3.0 monthsEffective Date
  
  Jueves-13/12/2007Maturity
  
  Jueves-13/03/2008Amount
  
  38,082,685.0 dollars
   11




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##### 



Schedule 6.02 Existing Liens   12




---



##### 



Schedule 6.02 There are no liens or limitations upon any property or right of the Borrower
or any of its Material Subsidiaries, that could affect the compliance of its obligations under the Loan Agreement.   13




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##### 



Schedule 6.10 Existing Restrictions   14




---



##### 



Schedule 6.10 There are no restrictions for any Cablevision Group Company to pay dividends
or other distributions with respect to any shares of its capital stock or to make or repay loans, that could affect the
compliance of its obligations pursuant to the Loan Agreement.  15




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##### 



ASSIGNMENT AND ASSUMPTION
 Assignment and Assumption Insert name of Assignor Assignor Insert name of Assignee Assignee Credit Agreement
 Assigned Interest
 1.
    
    Assignor:2.
    
    Assignee:[is an Eligible Assignee][and is an Affiliate of [identify Lender]]13.
    
    Borrower:
    
    Empresas Cablevisión, S.A.B. de C.V.4.
    
    Administrative Agent:
    
    JPMorgan Chase Bank, N.A.5.
    
    Credit Agreement:
    
    The Credit Agreement dated as of December 19, 2007 among Empresas Cablevisión, S.A.B. de C.V.,
the Lenders parties thereto and JPMorgan Chase Bank, N.A., as Administrative Agent.
 
 1
    
    Select if and as applicable




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##### 



6.
    
    Assigned Interest:
 Aggregate Amount of
    
    Amount of Loans
    
    
    Percentage Assigned ofLoans for all Lenders
    
    Assigned
    
    
    Loans2$
    
    $
    
    
    
    
    %$
    
    $
    
    
    
    
    %$
    
    $
    
    
    
    
    %
 
   ASSIGNOR
[NAME OF ASSIGNOR]By:Title:ASSIGNEE
[NAME OF ASSIGNEE]By:Title: 
 2
    
    Set forth, to at least 9 decimals, as a percentage of
the Loans of all Lenders thereunder.




---



##### 



Consented to and Accepted:JPMORGAN CHASE BANK, N.A.,
as Administrative AgentByTitle:Consented to:EMPRESAS CABLEVISIÓN, S.A.B. DE C.V.,
as BorrowerByTitle:




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##### 



Representations and Warranties
 Assignor
 Assignee




---



##### 



Payments
 General Provisions




---



##### 



OPINION OF SPECIAL NEW YORK COUNSEL
TO THE BORROWER




---



##### 



E-Mail: apodolsky@cgsh.com
  
  (sociedad anónima bursatil de capital variable)
   (a)
    
    an executed copy of the Credit Agreement; and(b)
    
    an executed copy of the promissory note dated as of the Drawdown Date and delivered to the
Administrative Agent pursuant to Section 4.01(o) of the Credit Agreement (the Note and,
together with the Credit Agreement, the Opinion Documents).




---



##### 



et al.




---



##### 



et al.




---



##### 



et al.




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##### 



et al.
 Very truly yours,CLEARY GOTTLIEB STEEN & HAMILTON LLPByAndrea G. Podolsky, a Partner




---



##### 



OPINION OF SPECIAL MEXICAN COUNSEL
TO THE BORROWER




---



##### 



th
  (sociedad
an6nima bursatil de capital variable)
 except to the extent otherwise expressly stated,
  (i)
    
    the Credit Agreement;(ii)
    
    the Notes;




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##### 



(iii)
    
    copies of the deed of incorporation (escritura constitutiva)and of the
current by-laws (estatutos sociales)of the
Borrower;(iv)
    
    copies of the deed of incorporation (escritura constitutiva)and of the
current by-laws (estatutos sociales)of each of the
Guarantors;(v)
    
    copy of public deed No. [], dated [], granted before Mr. [], notary
public No. [] of Mexico, Federal District, evidencing the powers of attorney granted
to [], to execute each of the Loan Documents on behalf of the Borrower;(vi)
    
    the public deed which contains the special power of attorney
granted by the Borrower in favor of the Process Agent pursuant to the Credit
Agreement (the Power of Attorney of Process Agent).
    2




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##### 



sociedad anónima bursatil de capital variable,
 concurso mercantil,
 (estatutos sociales)
  3




---



##### 



pagaré (juicio ejecutivo mercantil) (juicio ordinario
mercantil).
      4




---



##### 



in personam in rem
          5




---



##### 



pari passu
      6




---



##### 



concurso mercantil,
     (prescripción)
  7




---



##### 



(Ley Monetaria de los
Estados Unidos Mexicanos),
     8




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##### 



(concurso mercantil) unidades de inversion (concurso
mercantil)
        9




---



##### 



OPINION OF SPECIAL NEW YORK COUNSEL
TO THE ADMINISTRATIVE AGENT
  2




---



##### 



th
  Credit Agreement) [ Borrower), Lenders) Administrative Agent)




---



##### 



2




---



##### 



3




---



##### 



OPINION OF SPECIAL MEXICAN COUNSEL
TO THE ADMINISTRATIVE AGENT




---



##### 



Administrative Agent), Credit Agreement), Borrower),
    estatutos sociales




---



##### 



Registro Público de Comercio,
  sociedad anónima de capital variable,
 estatutos sociales
   pari passu
 except Ley del Impuesto Sobre la
Renta
  23




---



##### 



(COdigo de Comercio), inter alia, provided
  in personam in rem)
        24




---



##### 



(titulos de credito) (accidn ejecutiva mercantil).
  concurso
mercantil, quiebra,
  Ley Monetaria de los Estados Unidos
Mexicanos
       25




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##### 



Very truly yours,Ritch Mueller, S.C.ByLuis A. Nicolau, a partner
  26




---



##### 



FORM OF NOTE




---



##### 



FORM OF NOTE
 
 
 U.S.$225,000,000.00 DIIs.
    
    E.U.A.$225,000,000.00 DIs.For value received, the undersigned, Empresas Cablevisión, S.A.B. de
C.V., by this Promissory Note unconditionally promises to pay to J.P.
Morgan Chase Bank, N.A. (the Bank), the principal sum of
U.S.$225,000,000.00 (TWO HUNDRED AND TWENTY FIVE MILLION
DOLLARS OF THE UNITED STATES OF AMERICA 00/100), payable
on December _, 2012 (the Maturity Date).If the Maturity Date is not a
Business Day (as defined below), then payment shall be made on the
next succeeding Business Day.
    
    Por valor recibido, la suscrita, Empresas Cablevisión, S.A.B. de
C.V., por este Pagarê promete incondicionalmente pagar a J.P.
Morgan Chase Bank, N.A. (el Banco),la suma principal de
E.U.A.$225,000,000.00 (DOSCIENTOS VEINTICINCO
MILLONES DE DOLARES DE LOS ESTADOS UNIDOS DE
AMERICA 00/100), pagadera el dia  de diciembre de 2012 (la
Fecha de Vencimiento).Si la Fecha de Vencimiento no fuere un
Dia Habil (como se define a continuaci6n), entonces el pago se
hara el siguiente Dia Habil.The undersigned also promises to pay interest on the outstanding and
unpaid principal amount of this Promissory Note, for each day during
each Interest Period (as defined below), from the date hereof until the
amount hereof shall have been paid in full, at a rate per annum equal to
the sum of the Applicable Margin (as defined below) for such day plus
the Adjusted LIBO Rate (as defined below) applicable to such Interest
Period. Interest shall be payable in arrears, on each Interest Payment
Date (as defined below).
    
    La suscrita promete, asi mismo, pagar intereses sobre el saldo
insoluto de la suma de principal de este Pagaró, por cada dia
respecto de cada Periodo de Intereses (como se define a
continuacion), desde la fecha del presente hasta que hubiere
pagado totalmente el saldo insoluto, a una tasa anual igual al
Margen Aplicable (como se define a continuaci6n) para el dia de
que se trate mas la Tasa LIBO (como se define a continuacion)
aplicable a dicho Period() de Intereses. Los intereses seran
pagaderos en forma vencida, en cada Fecha de Pago de
Intereses (como se define a continuaci6n).Any principal amount and (to the extent permitted by applicable law)
interest not paid when due under this Promissory Note, shall bear
interest for each day until paid, at a rate per annum equal to the sum of
2.00% plus the interest rate then applicable hereunder as provided in
the preceding paragraph.
    
    Cualquier monto de principal y (en la medida permitida por
legislacion aplicable) de intereses que no sea pagada cuando sea
debida conforme a este Pagaró, devengara intereses por cada dia
hasta que sea pagado, a una tasa anual igual a la suma de 2.00%
mas la tasa de interes aplicable conforme al parrafo anterior.Interest hereunder shall be computed on the basis of a year of 360
days, and in each case shall be payable for the actual number of days
elapsed in the relevant period (including the first day but excluding the
last day).
    
    Los intereses conforme al presente seran calculados sobre la
base de un alio de 360 dias, y en cada caso seran pagaderos por
el namero de dias transcurridos en el periodo de que se trate
(incluyendo el primer dia, pero excluyendo el Ultimo dia).For purposes of this Promissory Note, the following terms shall have the following meanings:
    
    Para efectos de este Pagare, los siguientes tórminos tendran los siguientes significados:Administrative Agentmeans JPMorgan Chase Bank, N.A.
    
    Aqente Administrativosignifica JPMorgan Chase Bank, N.A.Adjusted LIBO Ratemeans an interest rate per annum (rounded
upwards, if necessary, to the next 1/16 of 1%) equal to (a) the LIBO
Rate for such Interest Period multiplied by (b) the Statutory Reserve
Adjustment.
    
    Tasa LIBO Aiustadasignifica la tasa de interas anual
(redondeada hacia arriba, de ser necesario, al siguiente 1/16 del
1%) igual a (a) la Tasa LIBO respecto de dicho Periodo de
Intereses multiplicada por (b) la Reserva Legal Ajustada.Applicable Marginmeans 0.400 % per annum.
    
    Margen Aplicablesignifica 0.400 % anual.Business Daymeans any day except a Saturday, Sunday or other
day on which commercial banks in Mexico City, Mexico, or New York
City, United States of America, are authorized or required by law to
close, and any day on which commercial banks are not open for
international business in London, England, including dealings in United
States dollar deposits in the London interbank market.
    
    Dia Habilsignifica cualquier dia excepto por sabado, domingo o
cualquier otro dia en el que los bancos comerciales en la ciudad
de Mexico, Mexico, o de Nueva York, Estados Unidos de America,
estan autorizados o sean requeridos por ley para cerrar, y
cualquier otro dia en que los bancos comerciales no est&
abiertos para Ilevar a cabo operaciones internacionales en
Londres, Inglaterra, incluyendo operaciones respecto de
depositos en dolares de los Estados Unidos en el mercado
interbancario de Londres.Interest Payment Datemeans the last day of
each Interest Period.
    
    Fecha de Pago de Interesessignifica el Ultimo dia de cada
Periodo de Intereses.




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##### 



Interest Periodmeans (i) in the case of the first Interest Period, the
period commencing on the date hereof and ending on 
and (ii) for each subsequent Interest Period, the period commencing on
the last date of the Interest Period then ending and ending on the
numerically corresponding day of the
 _____ 

calendar month
thereafter; providedthat (x) if any Interest Period would end on a day
which is not a Business Day, such Interest Period shall be extended to
the next succeeding Business Day unless such next succeeding
Business Day falls in another calendar month, in which case such
Interest Period shall end on the next preceding Business Day, (y) any
Interest Period that commences on the last Business Day of a calendar
month (or on a day for which there is no numerically corresponding day
in the last calendar month of such Interest Period) shall end on the last
Business Day of the last calendar month of such Interest Period, and
(z) any Interest Period that would otherwise end after the Maturity Date,
shall instead end on the Maturity Date.
    
    Periodo de Interesessignifica (i) en el caso del primer Periodo
de Intereses, el periodo que inicie en la fecha del presente y que
termine el de
 _____ 

de
 _____, y (ii) en el caso de cada
Periodo de Intereses siguiente, el periodo que inicie el ultimo dia
del Periodo de Intereses anterior y que termine en el dia
numOricamente correspondiente del
 _____ 

mes calendario
siguiente; en el entendidoque (x) si cualquier Periodo de
Intereses terminaria en una fecha que no sea un Dia Habil, tal
Periodo de Intereses se extenders al siguiente Dia Habil salvo
que tal Dia Habil siguiente tuviere lugar en otro mes calendario,
caso en el cual tal Periodo de Intereses terminara en el Dia Habil
anterior, (y) cualquier Period() de Intereses que inicie en el Ultimo
Dia Habil de un mes calendario (o en un dia en que no hays dia
numóricamente correspondiente en el Ultimo mes calendario de
tal Periodo de Intereses) terminara el ultimo Dia Habil del Ultimo
mes calendario de tal Periodo de Intereses, y (z) cualquier
Periodo de Intereses que terminaria despuas de la Fecha de
Vencimiento, terminara en la Fecha de Vencimiento.LIBO Ratemeans, for any Interest Period, the rate per annum equal
to the British Bankers Association LIBOR Rate (BBA LIBOR) from
Telerate Successor Page 3750, as published by Reuters (or, if such
source is unavailable, other commercially available source providing
quotations of BBA LIBOR as designated by the Administrative Agent
from time to time to the undersigned) at approximately 11:00 a.m.,
London time, [three] Business Days prior to the commencement of such
Interest Period, as the rate (rounded upwards, if necessary, to the next
1/16 of 1%) for deposits in United States dollars with a maturity
comparable to such Interest Period. If such rate is not available at such
time for any reason, then the LIBO Ratefor such Interest Period shall
be the rate at which United States dollar deposits of $5,000,000 and for
a maturity comparable to such Interest Period are offered by the
principal London office of the Administrative Agent in immediately
available funds in the London interbank market at approximately 11:00
a.m., London time, [three] Business Days before the beginning of such
Interest Period.
    
    Tasa LIBOsignifica, respecto de cualquier Periodo de Intereses,
la tasa anual igual a la Tasa LIBOR de la Asociacion de
Banqueros Britanicos (LIBOR BBA)que aparezca en la Pagina
Sucesora Telerate 3750, que publique Reuters (o si dicha fuente
no esta disponible, cualquier otra fuente comercialmente
disponible que divulgue cotizaciones de la LIBOR BBA segim lo
determine periodicamente el Agente Administrativo a la suscrita),
aproximadamente a las 11:00 a.m., hora de Londres, [tres] Dias
Habiles antes del inicio de tal Periodo de Intereses, como la tasa
(redondeada hacia arriba, de ser necesario, al siguiente 1/16 del
1%) para depositos en dolares de los Estados Unidos con
vencimiento comparable a tal Periodo de Intereses. En el caso
que tal tasa no estuviere disponible en ese momento por
cualquier causa, entonces la Tasa LIBOpars tal Periodo de
Intereses sera el la tasa a la que depOsitos en dOlares de los
Estados Unidos, por una suma de principal de EUA$5,000,000 y
con una fecha de vencimiento comparable a dicho Periodo de
Intereses, sean ofrecidos por la oficina principal en Londres del
Agente Administrativo, en fondos inmediatamente disponibles, en
el mercado interbancario de Londres, aproximadamente a las
11:00 a.m., hora de Londres, [tres] Dias Habiles antes del inicio
de tal Periodo de Intereses.Other Taxesmeans any and all documentary taxes and any other
excise or property taxes, or similar charges or levies, including any
penalties, fines or interest arising therefrom or with respect thereto
imposed by Mexico, and which arise from any payment made by the
undersigned under this Promissory Note or from the enforcement of, or
otherwise with respect to, this Promissory Note (including any of the
foregoing that are imposed or that arise in the future).
    
    Otros Impuestossignifica cualesquiera impuestos del timbre o
documentales y cualquier otra contribucion o impuesto sobre la
propiedad, o cargas o aportaciones gubernamentales, incluyendo
recargos, multas e intereses que resulten de los anteriores o
relacionados con los mismos, que sean impuestos por Mexico, y
que resulten de cualquier pago hecho por la suscrita conforme a
este Pagaréo de la ejecucion de, o con respecto a, este Pagara
(incluyendo cualquiera de los anteriores que sean impuestos o
existan en el futuro).Statutory
Reserve Adjustment means a fraction (expressed as a
decimal), the numerator of which is the number one and the
denominator of which is the number one minus the aggregate of the
maximum reserve percentages (including any marginal, special,
emergency or supplemental reserves) expressed as a decimal
established by the Board of Governors of the Federal Reserve System
of the United States of America (the Federal Reserve Board) to which
the Administrative Agent is subject with respect to eurocurrency funding
(currently referred to as Eurocurrency Liabilities in Regulation D of the
Federal Reserve Board). Such reserve percentages will include those
imposed pursuant to such Regulation D. The Statutory Reserve
Adjustment will be adjusted automatically on and as of the effective
date of any change in any applicable reserve percentage.
    
    Reserva Legal Aiustadasignifica la fracci6n (expresada en
decimales), el numerador de la cual es el numero uno y el
denominador de la cual es el niimero uno menos el total de los
porcentajes maximos de reserva (incluyendo cualesquiera
reserves marginales, especiales, de emergencia o
complementarias) expresada como un decimal serialada por la
Junta de Gobierno del Sistema de la Reserva Federal de los
Estados Unidos de America (la Reserva Federal)a la que el
Agente Administrativo esta sujeto con respecto de pasivos en
euromonedas (referidas en esta fecha como Pasivos en
Euromonedas en la Regla D de la Reserva Federal. Tales
porcentajes de reserva incluirân los que se impongan de acuerdo a
la Regla D. La Reserva Legal Ajustada sera ajustada
autornaticamente precisamente en la fecha de eficacia de
cualquier modificacion a cualquier porcentaje de reserva
aplicable.
  2




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##### 



Taxesmeans any and all taxes, duties, levies, imposts, contributions,
deductions, charges or withholdings, of any nature, imposed by Mexico
(or any political subdivision thereof, or taxing authority therein), and any
penalties, fines or interest thereon, excluding, in the case of the holder
hereof, taxes, duties, levies, imposts, deductions, charges and
withholdings imposed on (or measured by) its net income, and branch
profits, franchise or taxes imposed on it (other than Other Taxes due to
a connection between such holder and Mexico other than the holding of
this Promissory Note).
    
    Impuestos" significa cualesquiera impuestos, derechos,
aportaciones, contribuciones, deducciones, cargas o retenciones,
de cualquier naturaleza, determinadas por Mexico (o cualquier
division politica de Mexico o autoridad fiscal mexicana), y
cualesquiera recargos, multas e intereses que resulten de los
anteriores, excluyendo, respecto del tenedor del presente,
impuestos, derechos, aportaciones, contribuciones, deducciones,
cargas o retenciones impuestas respecto de (o determinadas
considerando) sus ingresos netos, y cualquier impuesto a
sucursales, de franquicias y otros impuestos determinados
tenedor (excepto por Otros Impuestos resultantes de que exista
un punto de contacto entre el tenedor y Mexico distinto de la
tenencia de este Pagare).All payments by the undersigned of principal, interest and other
payments hereunder shall be made without setoff or counterclaim not
later than 12:00 (noon), New York City time, on the date due, in
immediately available funds, at the office of the Administrative Agent
located at JPMorgan Chase Bank, N.A., Americas Investment Bank
Loan Operations, 1111 Fannin, 10th Floor, Houston, Texas 77002. The
undersigned agrees to pay all reasonable out-of-pocket expenses
incurred by the holder hereof, including any fees, charges and
disbursements of any counsel for such holder, in connection with the
enforcement or protection of its rights under this Promissory Note.
    
    Todos los pagos que deban hacerse conforme a este Pagaré por
la suscrita, de principal, intereses y por otros conceptos seran
efectuados sin compensacion o defensa, antes de las 12:00 p.m.,
hora de la ciudad de Nueva York, en la fecha en que sean
pagaderos, en fondos disponibles inmediatamente, en la oficina
del Agente Administrativo localizada en JPMorgan Chase Bank,
N.A., Americas Investment Bank Loan Operations, 1111 Fannin,
10th Floor, Houston, Texas 77002. La suscrita conviene en pagar
todos los costos y gastos razonables en que incurra el tenedor del
presente, incluyendo honorarios, gastos y desembolsos del
representante legal de dicho tenedor, respecto de la ejecucion y
proteccion de sus intereses conforme al presente Pagaré.Any and all payments by the undersigned to or for the account of the
holder hereof shall be made without deduction or withholding for any
Taxes or Other Taxes; providedthat, if the undersigned shall be
required by law, rule or regulation to deduct or withhold any Taxes or
Other Taxes from any such payments, then (i) the sum payable by the
undersigned to the holder hereof shall be increased as necessary so
that after making all required deductions and withholdings (including
deductions and withholding applicable to additional sums payable
hereunder), the holder hereof receives an amount equal to the sum it
would have received, had no deductions or withholdings been made, (ii)
the undersigned shall make such deductions or withholdings, and (iii)
the undersigned shall pay the full amount deducted or withheld to the
relevant taxation authority or other authority in accordance with
applicable law.
    
    Todos los pagos por parte de la suscrita a favor y para beneficio
del tenedor del presente se realizaran libres de y sin deduccion o
retencion alguna respecto de cualesquiera Impuestos u Otros
Impuestos; en el entendidoque, si la suscrita estuviere obligada,
por ley, reglamento o regla a deducir o retener cualesquiera
Impuestos u Otros Impuestos de dichos pagos, entonces (i) la
cantidad pagadera por la suscrita al tenedor del presente Pagaré
se incrementarâ en la medida necesaria para que, una vez que
todas las deducciones o retenciones requeridas (incluyendo las
deducciones o retenciones aplicables a las cantidades adicionales
pagaderas conforme al presente) hayan sido realizadas, el
tenedor del presente Pagaré reciba una cantidad igual a la
cantidad que hubiere recibido, si no se hubieren realizado dichas
deducciones o retenciones, (ii) la suscrita realizara dichas
deducciones o retenciones, y (Hi) la suscrita pagara la cantidad
total deducida o retenida a la autoridad fiscal o cualquier otra
autoridad correspondiente de conformidad con la legislacion
aplicable.This Promissory Note shall be governed by, and construed in
accordance with, the laws of the State of New York, United States of
America; provided, howeverthat if any action or proceedings in
connection with this Promissory Note were brought to any courts in the
United Mexican States, this Promissory Note shall be deemed as
governed under the laws of the United Mexican States.
    
    Este Pagaré se regira e interpretara de acuerdo con las leyes del
Estado de Nueva York, Estados Unidos de America; en el entendido,
sin embargo de que si cualquier accion o
procedimiento en relacion con este Pagaré se iniciara en los
tribunales de los Estados Unidos Mexicanos, este Pagaré se
considerará regido de acuerdo con las leyes de los Estados
Unidos Mexicanos.Any legal action or proceeding arising out of or relating to this
Promissory Note may be brought before the Supreme Court of the
State of New York, sitting in New York County, State of New York,
United States of America, and the United States District Court of the
Southern District of New York, State of New York, United States of
America, and any appellate court from any thereof, or in the courts
located in the City of Mexico, Federal District, United Mexican States;
the undersigned waives the jurisdiction of any other courts.
    
    Cualquier accion o procedimiento legal que derive o se relacione
con este Pagaré podra ser instituido ante la Suprema Corte del
Estado de Nueva Cork, con asiento en el Condado de Nueva
York, Estado de Nueva York, Estados Unidos de America, y en el
Tribunal de Distrito de los Estados Unidos para Distrito Sur de
Nueva York, Estado de Nueva York, Estados Unidos de America,
y cualquier tribunal de apelacion respecto de los anteriores, o
cualquier tribunal localizado en la ciudad de Mexico, Distrito
Federal, Estados Unidos Mexicanos, renunciando la suscrita a la
jurisdiccion de cualesquiera otros tribunales.The undersigned hereby waives diligence, demand, protest,
presentment, notice of dishonor or any other notice or demand
whatsoever in respect of this Promissory Note.
    
    La suscrita en este acto renuncia a diligencia, demanda, protesto,
presentacion, notificacion de no aceptacion y a cualquier
notificacion o demanda de cualquier naturaleza respecto de este
Pagarg.
  3




---



##### 



This Promissory Note is executed in both English and Spanish
versions. In the case of any conflict or doubt as to the proper
construction of this Promissory Note, the English version shall govern.
Notwithstanding the foregoing, any action or proceeding brought in any
court in the United Mexican States, the Spanish version shall be
controlling.
    
    El presente Pagaré se suscribe en versiones en ingles y espanol.
En caso de conflicto o duda en relacion con la debida
interpretación de este Pagaré, la version en ingles prevalecerá.
No obstante lo anterior, cualquier procedimiento iniciado en los
Estados Unidos Mexicanos, prevalecerá la version en espanol.IN WITNESS WHEREOF, the undersigned has duly executed this
Promissory Note as of the date mentioned below.
    
    EN VIRTUD DE LO CUAL, la suscrita ha firmado este Pagare en
la fecha abajo mencionada.
 
 Empresas Cablevisión, S.A.B. de C.V.Por/ByNombre/Name::
Cargo/Title:




---



##### 



FORM OF BORROWING REQUEST
 
 Borrowing Request Credit Agreement
 1.
    
    The date of the Borrowing shall be ,
2007.2.
    
    The aggregate amount of the Borrowing shall be
$.3.
    
    The duration of the initial Interest Period for
the Loans comprising this Borrowing shall be .
 EMPRESAS CABLEVISIóN, S.A.B. DE C.V.By:Name:Date:




---



##### 



NOTICE OF INTEREST PERIOD ELECTION 3
 
 Notice of Interest Period Election Credit Agreement
 1.
    
    The date on which the continuation selected is to be effective is , 20_____.2.
    
    The duration of the new Interest Period for the Loans shall be .4
 EMPRESAS CABLEVISIóN, S.A.B. DE C.V.By:Name:Title:  
 3
    
    Deliver to the Administrative Agent not later than
12:00 Noon (New York City time) on the third Business Day before such election
is to be effective.4
    
    Insert appropriate Interest Period pursuant to the
definition thereof.




---



##### 



TERMS OF SUBORDINATION
   provided




---



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Definitions
 Bankruptcy Proceeding
 Borrower
 Credit Agreement




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Loan Documents
 Senior Debt
 Senior Debt Holders
 Senior Debt Representative
 Subordinated Debt
 Subordinated Lender
 subsidiary
 Subsidiary