*Three
      Irons, Inc.*


*12000
      Westheimer, Suite 340*


*Houston,
      TX 77077 ● Tel: (281) 600-6000 ● Fax: (713) 462-1980*




April
      25
      2008




Legacy Communications Corporation
              Via
                  Fax: (435)
                  628-6636


Attn:
      E.
      Morgan Skinner, Jr.


210
      North
      1000 East


St.
      George, UT 84770




**Re:
      Purchase of securities from Legacy Communications
      Corporation**




Dear
      Mr.
      Skinner:




This
      letter is intended to summarize the principal terms of an agreement under which
      we, as custodian for several unaffiliated beneficial owners (“ Purchaser ”),
      will
      acquire record title and ownership to certain existing indebtedness and
      newly-issued shares of preferred stock, $.001 par value per share (the
“ Preferred
      Stock ”),
      of
      Legacy Communications Corporation, a Nevada corporation (“ Legacy ”),
      and
      will enter into the other transactions described in this letter. In this letter,
      (i) the Purchaser and Legacy are sometimes called the “Parties,” and (ii) the
      Purchaser’s acquisition of the indebtedness and Preferred Stock and other
      transactions described in this letter, is sometimes called the
“Transaction.”




1.  On
      the
      date of this Letter, Legacy will create a series of preferred stock designated
      the “Series A Redeemable Convertible Preferred Stock,” substantially in the form
      of Exhibit A to this letter, with the following characteristics:




a.  Designation
      and amount :
      The
      number of shares designated as Series A Redeemable Convertible Preferred Stock
      will be 185,000 shares of newly designated preferred stock, $.001 par value
      per
      share, with a stated value of $1.00 per share (the “ Stated
      Value ”).




b.  Dividends :
      The
      Series A Preferred Stock shall not have any dividend rights.




c.  Liquidation :
      The
      Series A Preferred Stock will participate in the distribution of the assets
      of
      the company upon liquidation in preference to the common stock, $.001 par value
      (the “ Common
      Stock ”),
      of
      Legacy as though it had been converted into shares of Common Stock at the
      conversion rate then in effect, until the holders of the Series A Preferred
      Stock have received distributions in the amount of the Stated Value plus a
      premium of 12.5% of the Stated Value (the “ Liquidation
      Premium ”).




d.  Voting :
      Each
      share of Series A Preferred Stock shall be entitled to vote on an “as converted”
basis and shall vote as a class with the Common Stock; provided, however, that
      the aggregate votes that may be cast by any holder or any group (as defined
      in
      Rule 13d-5 under the Exchange Act) with respect to Series A Preferred Stock
      held
      by such holder or the members of such group shall not exceed 4.99% of the
      aggregate voting interest of the Series A Preferred Stock and the Common Stock
      then outstanding.




e.  Conversion :
      Each
      share of Series A Preferred Stock shall be convertible by the holders thereof
      after July 1, 2008 (i) into shares of Common Stock that have a market value
      equal to the Stated Value and Liquidation Premium if there is a default by
      Legacy in any of the provisions of paragraph 5 of this letter and such default
      is continuing at the time of the conversion; provided, however, that no holder
      may convert shares of Series A Preferred Stock to the extent that such holder
      or
      any group (as defined in Rule 13d-5 under the Exchange Act) of which such holder
      is a member would become the beneficial holder (as defined in Rule 13d-3 under
      the Exchange Act) of more than 4.99% of the issued and outstanding Common Stock;
      or (ii) into 200 shares of Common Stock if the Transaction has been completed
      at
      the time of the conversion.


Legacy
            Communications Corporation
 April 25, 2008
 Page 2


f.  Redemption :
      At any
      time prior to July 1, 2008, each share of Series A Preferred shall be redeemable
      by Legacy for Stated Value plus the Liquidation Premium. From and after July
      1,
      2008, each share of Series A Preferred shall be redeemable by Legacy for
      1/1000 th share of
      Common Stock unless the Board of Directors of Legacy determines that such right
      of redemption shall be of no force and effect. The Series A Preferred shall
      not
      otherwise be redeemable by Legacy.




g.  Antidilution :
      All
      redemption and conversion provisions shall be subject to adjustment for stock
      splits, stock dividends and other increases in the number of outstanding shares
      of Common Stock outstanding and shall not be adjusted for any reverse stock
      splits, combinations or other decreases in the number of shares of Common Stock
      outstanding.




2.  The
      Closing shall occur on the last to occur: (i) 45 days after (A) Legacy has
      filed
      a Form 10-KSB for the year ended December 31, 2007, (B) Legacy has filed a
      Form
      10-QSB for the quarter ended March 31, 2008, (C) original documents representing
      the Transaction Debt, duly endorsed for transfer, shall have been delivered
      to
      the Escrow Agent, (D) original certificates representing 145,000 shares of
      Preferred Stock shall have been delivered to the Escrow Agent, (E) original
      certificates representing 13,454,316 shares of Common Stock, duly endorsed
      for
      transfer with customary signature guarantee shall have been delivered to the
      Escrow Agent, (F) the federal and state income tax returns of Legacy for the
      year ended December 31, 2007 has been filed and a copy delivered to Purchaser,
      (G) all of the representations and warranties of Legacy are true and correct,
      (H) all conditions to Closing have occurred, or (ii) July 1, 2008




3.  The
      Purchaser hereby subscribes for 40,000 shares of Series A Preferred Stock for
      an
      aggregate purchase price of $40,000. Legacy acknowledges receipt of payment
      simultaneously with the signature of this letter.




4.  Promptly
      after the date of this letter, Legacy will identify existing indebtedness held
      by one or more non-affiliated creditors with aggregate principal and accrued
      interest, penalties, late fees, and other obligations (such indebtedness and
      all
      accrued and unpaid interest, penalties, late fees and other obligations relating
      thereto is referred to as the “ Transaction
      Debt ”)
      and
      obtain the commitment of the creditor or creditors to transfer the Transaction
      Debt to Purchaser in accordance with the Transaction.




5.  On
      or
      before July 1, 2008, in a simultaneous transaction (the “ Closing ”):




a.  Legacy
      will transfer all of its existing assets and operations to a wholly owned
      subsidiary (the “ Subsidiary ”)
      and
      the Subsidiary shall assume and become solely responsible for all of the
      outstanding indebtedness and liabilities of Legacy other than the Transaction
      Debt. Legacy shall obtain such releases, novations and other agreements from
      its
      creditors as necessary to be fully and completely released from all outstanding
      indebtedness and liabilities other than the Transaction Debt.




b.  Purchaser
      shall subscribe for, and Legacy shall issue to Purchaser, the remaining 145,000
      shares of Series A Preferred Stock for an aggregate purchase price of $145,000.
      All of the purchase price shall be paid in immediately available funds at the
      Closing to the escrow agent (the “Escrow Agent”) pursuant to a funds escrow
      agreement substantially in the form of Exhibit C to this letter and applied
      for
      the benefit of Legacy in accordance with its terms.




c.  Purchaser
      will acquire the Transaction Debt directly from the owner or owners thereof
      for
      an aggregate purchase price of $110,000, payable in immediately available funds
      to the Escrow Agent pursuant to a funds and securities escrow agreement
      substantially in the form of Exhibit C to this letter and applied for the
      benefit of the owners of the Transaction Debt.




d.  Legacy
      shall deliver all of the shares of the Subsidiary for holding and voting
      pursuant to the terms of a trust receipt, irrevocable instructions and
      irrevocable proxy substantially in the form of Exhibit B to this
      letter.




e.  Shareholders
      of Legacy (“ Shareholders ”)
      shall
      have delivered to the Escrow Agent named in Exhibit C not less than 13,454,316
      shares of common stock of Legacy to be held and delivered in accordance with
      the
      terms of the funds and securities escrow agreement substantially in the form
      of
      Exhibit C to this letter and distributed for the benefit of the Purchaser in
      accordance with its terms.


Legacy
              Communications Corporation
 April 25, 2008
 Page 3


f.  If
      the
      Transaction is covered by Section 13(d) or 14(d) of the Exchange Act, Legacy
      shall have mailed to its shareholders an information statement that complies
      with Rule 14f-1 of Regulation 14E of the Exchange Act and otherwise complied
      with the warrants and representations of paragraph 5 of this
      letter.




g.  The
      directors of Legacy shall have elected and appointed the officers and directors
      designated by Purchaser and resigned all of their respective positions as
      officers and directors of Legacy; provided, however, that nothing herein shall
      require the directors or officers of the Subsidiary to resign any position
      with
      the Subsidiary or any company owned by the Subsidiary.




6.  Legacy
      warrants and represents that: (i) Legacy is authorized to issue 5,000,000 shares
      of preferred stock, $.001 par value per share, and 50,000,000 shares of common
      stock $.001 par value per share; (ii) no preferred shares are issued or
      outstanding and 17,379,172 shares of common stock are issued and outstanding
      as
      of the date of this letter; (iii) it will file its Annual Report on Form 10-KSB
      for the year ended December 31, 2007 on or before April 30, 2008; (iv) it shall
      file when due all other reports require required to be filed prior to the
      Closing with the Securities and Exchange Commission (the “ SEC ”)
      by
      issuers having a class of securities registered under Section 12(g) of the
      Exchange Act with respect to the Transaction, including without limitation
      a
      Current Report on Form 8-K with respect to the Transaction; (v) the Subsidiary
      and the Shareholders shall be solely responsible for a timely and adequate
      response to comments received from the SEC with respect to any report or
      registration statement filed prior to the Closing; (vi) it will seek and obtain
      a complete release from any outstanding indebtedness other than the Transaction
      Debt (as defined); (vii) it will cause Legacy to continue to be eligible for
      quotation on the Over-the-Counter Bulletin Board prior to the Closing; (viii)
      it
      will provide to Purchaser any information requested in writing within 15 days
      after receipt of such request; and (ix) it will take such other actions as
      are
      necessary to maintain the registration of the Common Stock with the SEC prior
      to
      the Closing.




7.  Except
      as
      set forth in this letter and the Definitive Agreement, Legacy shall not issue
      shares of Common Stock, preferred stock, or any warrant, option or other
      security convertible into, exchangeable for or having a right to subscribe
      for
      Common Stock or preferred stock until the Transaction has been completed or
      abandoned by the Parties. The foregoing notwithstanding, Legacy shall be
      entitled to engage in its normal business of buying and selling radio station
      properties (including construction permits, broadcast licenses and other rights
      to construct or operate radio stations); provided that no such acquisition
      or
      sale shall involve the issuance of any securities by Legacy.




8.  It
      is the
      intention of the Parties that the Transaction be exempt from registration with
      the SEC. In the event that the Transaction cannot be accomplished without
      registration of the Series A Preferred Stock under the Securities Act of 1933,
      the Parties agree to use commercially reasonable efforts to restructure the
      Transaction so that it may be completed without such registration.




9.  The
      Parties intend this letter to be a binding agreement to undertake the
      Transaction. The foregoing notwithstanding, the Parties anticipate the
      negotiation and signature of a definitive agreement (the “ Definitive
      Agreement ”)
      relating to the Transaction that will supersede and replace this letter and
      will
      contain the representations and agreements in this letter and such additional
      representations, warranties, covenants and other terms as are customary in
      similar transactions.




10.  The
      Parties acknowledge that this letter must be disclosed by Legacy on a Form
      8-K
      as a material definitive agreement. Purchaser consents to and authorizes such
      disclosure.




11.  This
      letter shall be governed by and construed under the laws of the State of Nevada
      without regard to conflicts of laws principles. Any action or proceeding seeking
      to enforce any provision of, or based on any right arising out of, this letter
      may be brought against any of the Parties in the courts of the State of Texas,
      County of Harris, or, if it has or can acquire jurisdiction, in the United
      States District Court for the Southern District of Texas sitting in Houston,
      Texas, and each of the Parties consents to the jurisdiction of such courts
      (and
      of the appropriate appellate courts) in any such action or proceeding and waives
      any objection to venue laid therein. Process in any action or proceeding
      referred to in the preceding sentence may be served on any party anywhere in
      the
      world.


Legacy
              Communications Corporation
 April 25, 2008
 Page 4


12.  This
      letter may be signed in one or more counterparts, each of which will be deemed
      to be an original copy of this letter and all of which, when taken together,
      will be deemed to constitute one and the same agreement. Any signature
      transmitted by facsimile or Portable Document Format (“ PDF ”)
      shall
      be deemed to be an original signature for all purposes unless the other Party
      has actual knowledge that such facsimile or PDF signature is fraudulent. This
      letter supersedes all prior agreements relating to the Transaction, whether
      written or oral, and contains all of the agreements of the Parties with respect
      to the Transaction. It may not be modified or supplemented except by a written
      document signed by the Parties.




If
      you
      are in agreement with the foregoing, please sign and return one copy of this
      letter agreement, which thereupon will constitute our agreement with respect
      to
      its subject matter.




Very
                truly yours,
              THREE
                IRONS, INC.By: 
              /s/ Hunter M. A. CarrName:Hunter
              M. A. CarrTitle:DirectorAccepted and agreed on April 28, 2008.Legacy Communications CorporationBy: /s/ E. Morgan Skinner, Jr.Name:
                E. Morgan Skinner, Jr.Title:  
Chief
                Executive Officer and
                President