CONTRACT AGREEMENT


Television Programme Licence between POWER TELEVISION LIMITED and HUNGARIAN
BROADCASTING CORPORATION as of 28th February 1996.



THE PARTIES :

LICENSEE : Hungarian Broadcasting Corporation (HBCO) , 90 West Street, New
York, NY10006

LICENSOR : POWER TELEVISION LIMITED, P.O. Box 95, 2a Lord Street, Isle of
Man ( PTV )

BASIC PROVISIONS:
 It is understood in this agreement Basic Provisions shall include
all Terms and Conditions listed herein and Television Licence Agreement .

COPYRIGHT:
By separate agreement Power Television acts as distributor and licensor in
Hungary for the series listed, whose copyright is owned by seperate
agreement.


 

 TELEVISION LICENCE AGREEMENT

 
1 LICENSED STATION : A3 (HUNGARY)
2 RIGHTS : Cable and AM Micro (Budapest only)
3 EXCLUSIVE RIGHTS : 1 APRIL 1996- 31 DECEMBER 1996
 LICENSED

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PROGRAMMING

 ROAR TV (HUNGARIAN VERSION)
 PACIFIC DRIVE
 SIRENS
 HOLLYWOOD TODAY
 FASHION TV (or equivalent to be confirmed)
 PACIFIC BLUE
 OUTER BOUNDS
 OO LA LA (or equivalent to be confirmed)
 HOMOCIDE
 BENNY HILL
 BEAUTY AND THE BEAST
 OOPS DA (or equivalent to be confirmed)

5 TERRITORY : HUNGARY


6 TOTAL LICENCE FEE: : US$750,000 (Seven hundred and fifty thousand UNITED
STATES dollars)


7 MATERIAL TO BE FURNISHED : BETA SP, with FULL ENGLISH
   SCRIPTS PER EPISODE AND PRESS MATERIALS

8 NET CHARGE FOR MATERIAL : At Licensee s cost to a maximum
of US$40,000 (forty thousand United States Dollars). Shipping freight
forward.

9. BANKING DETAILS: Power Television Limited, Royal Bank of
Scotland, Victory House, Prospect Hill, Douglas, Isle of Man,
Account Name: POWTEL-USD1 Sort Code: 16-58-80

10 SHIPPING INFORMATION : Ship to : A3, HBC KFT, 1118
Budapest, Szamado Ut.19, Hungary ( A3 )

11 NEEDED BY : 15th March 1996

12 AIR/SURFACE : AIR FREIGHT FORWARD

13 MATERIAL INVOICE INFORMATION : Ship to : Marian Peppers, A3, HBC KFT,
1118 Budapest, Szamado
Ut.19, Hungary ( A3 )

14 ADDITIONAL TERMS :

14.1 It is agreed that subject to Power TV or nominated company being a
shareholder in excess of 5% of outstanding issued shares in Licensee that
Licensee agrees to purchase a minimum of 50% of its programming schedule by
mutual approval between the broadcast hours of 19.30 hours and 24.00 hours
under similar terms and conditions for the broadcast period between 1st
January 1997 and 31st December 1998; It is agreed that the license fee for
1997/1998 shall include a minimum of 20 minutes (twenty minutes) of
commercial airtime per month for exploitation under similar terms and
conditions.

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14.2 It is agreed that the license fee shall contain additional commercial
minutage to the value of US$16,500 (sixteen thousand five hundred United
States Dollars) per month to be made available to Power TV for its
commercial exploitation during the period of April and December 1996,
subject to Power TV making this airtime available to Initiative Media only.

14.3 A3 will be responsible for providing the Hungarian translations and
the Hungarian dub for each episode subject to Standard Terms and
Conditions, and a minimum requirement of voices.


15 PAYMENT TERMS:

 It is agreed that US$200,000 (Two hundred thousand United States Dollars)
be paid into bank account as nominated by Licensor by no later than 29th
February 1996.

 It is agreed that US$200,000 (Two hundred thousand United States Dollars)
be paid into bank account as nominated by Licensor by no later than 31st
March 1996.

 It is agreed that US$40,000 (Forty thousand United States Dollars) be paid
into bank account as nominated by Licensor no later than 8th April 1996,
and thereafter US$40,000 (Forty thousand United States Dollars) will be
paid monthly by no later than the 8th day of each month, up to and
including 8th November 1996, totalling US$320,000 (Three hundred and twenty
thousand United States Dollars).

 It is agreed that US$30,000 (Thirty thousand United States Dollars) be
paid into bank account as nominated by Licensor no later than 8th December
1996.

 It is the essence of this agreement that all payments are made by the due
dates.

16 PROMOTIONAL INFORMATION :

 It is agreed that A3 will use its best efforts to promote to both the
trade and audience the programming listed in this licence agreement. PTV
will use its best efforts to provide support material and assistance
in the promotion of this programming as soon as possible.


17 RATING INFORMATION :

 It is agreed that the licensee will provide PTV with all relevant rating
information including demographics for all programming licensed under this
agreement agreed under this license agreement within 15 days after the end
of the month of broadcast.



18 CONFIDENTIALITY

 The Parties here to shall not disclose to any third party neither the
underlying deal  structure nor the Terms and Conditions of this Agreement
without the prior  written permission of the Parties, the details of which
shall remain in strictest confidence.





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19 WARRANTIES :

19.1 PTV warrants that it has the right to enter into and perform this
agreement and that the performance of this agreement by either party shall
not infringe upon the rights or result in any liability or obligation
to any third parties except as specifically set forth herein; each of PTV
and A3 hereby indemnifies and holds harmless the other, its successors,
licensees and permitted assigns from and against any and all damages,
losses, costs, and expenses (including reasonable attorneys fees) arising
out of any breach of representation, warranty or agreement made by the
indemnifying party.


20 AGREEMENT :

20.1 This Agreement shall be binding on the parties unless or until they
are superseded by another instrument in writing, signed by the parties,
and; 

20.2 This Agreement contains the entire agreement of the parties as
currently subsisting and themselves supersede all other agreements,
understanding or arrangements previously subsisting between the parties in
relation to the subject matter hereof.

20.3 This Agreement includes all the Terms and Conditions as listed in
Standard Terms and Conditions attached hereto.

20.4 This Agreement shall not be deemed to create any partnership or any
such relationship between the parties hereto.

20.5 This Agreement and/or any part of this Agreement is personal to the
parties and may not be assigned except to a related company or to a
division or part of its corporate grouping in which case appropriate notice
in writing shall be given to the other party hereto.

20.6 This Agreement shall be construed in accordance with English Law and
the parties submit themselves to the exclusive jurisdiction of the English
courts.



IN WITNESS whereof the parties hereto have set their hands the day month
and year first herein before written.



 HUNGARIAN BROADCASTING CORPORATION          Peter Klenner, President & CEO
 (Authorised signatory)                      (Print Name and Title)


POWER TELEVISION LTD                         Justin Bodle
(Authorised signatory)                       (Authorized Signatory





Page 5



CONTRACT AGREEMENT


Television Programme Licence between  POWER TELEVISION LIMITED and HUNGARIAN 
BROADCASTING CORPORATION as of  29th July 1996 FOR DAYTIME PROGRAMMING. 


THE PARTIES : 

LICENSEE :     Hungarian Broadcasting Corporation, (HBCO), 90 West Street, New
York, NY 10006

LICENSOR :     POWER TELEVISION LIMITED,PO BOX 95, 2a Lord Street, Isle of Man
('PTV')

BASIC PROVISIONS: 
     It is understood in this agreement "Basic Provisions" shall include all
"Standard Terms and Conditions" listed herein and "Television Licence
Agreement".

COPYRIGHT:
     By separate agreement  Power Television acts as distributor and
licensor in Hungary for the series listed, whose copyright is owned by
separate agreement. 

TELEVISION LICENCE AGREEMENT


1    LICENSED STATION    : A3 (HUNGARY)
2    RIGHTS: Digital Satellite , Cable and AM Micro (Budapest only)
3    EXCLUSIVE RIGHTS LICENSED: 1 OCTOBER 1996 - 31 DECEMBER 1997

Page 6

4    PROGRAMMING    "JIM HENSON'S ANIMAL SHOW"
                    "SNORKS"(animation)
                    "THE PERSUADERS"
                    "FANTASY ISLAND"
                    "OUTER BOUNDS"
                    "SIRENS"
                    "KIMBA THE WHITE LION"(animation)
                    "POPEYE"(animation)
                    "FOOFUR"(animation)
                    "SEABERT"(animation)
                    "POWER RANGERS"

5    TERRITORY:  HUNGARY

6    TOTAL LICENCE FEE:US$195,000 (one hundred and ninety-five thousand 
     US dollars)

7    TOTAL NUMBER OF 
     BROADCAST HOURS: 595

8    MATERIAL TO BE FURNISHED : BETA SP,  with FULL ENGLISH SCRIPTS PER
      EPISODE AND PRESS MATERIALS

9    NET CHARGE FOR MATERIAL : At Licensee's cost to a maximum of US$ 15,000
(fifteen thousand US dollars) .  Shipping freight forward.

10   BANKING DETAILS: Power Television Limited, Royal Bank of Scotland,
Victory House, Prospect Hill, Douglas, Isle of Man. Account Name: POWTEL-USD1
Sort Code: 16-58-80

11   SHIPPING INFORMATION : Ship to :
     Marian Peppers, A3, HBC KFT, 3rd Floor EMKE Building, Rakoczi Utca 42,
     Budapest, H-1072, Hungary

12   NEEDED BY :   1st September 1996 (Delivery One)                 
13   AIR/SURFACE : AIR FREIGHT FORWARD
14   MATERIAL INVOICE INFORMATION : Ship to :
     Marian Peppers, A3, HBC KFT, 3rd Floor EMKE Building, Rakoczi Utca 42,
     Budapest, H-1072, Hungary

15   ADDITIONAL  TERMS :

15.1 It is agreed that the license fee shall contain additional commercial
minutage of one minute per airing of Power Rangers the Series per episode  to
be made available to Power TV for its commercial expoitation during the
period of 1st September  1996 to December 1997.

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15.2 A3 will be responsible for providing the Hungarian translations and the
Hungarian dub for each episode subject to Standard Terms and Conditions, and
a mimimum requirement of voices. It is understood that over 60% of all
programming has pre-recorded Hungarian dub tracks.


16   PAYMENT TERMS:

     It is agreed that US$100,000 (one hundred thousand US dollars) be paid
into bank account as nominated by Licensor by no later than 31st October
1996.

     It is agreed that US$95,000 (ninety-five thousand US dollars) be paid
into bank account as nominated by Licensor by  no later than 8th January
1997.

     It is the essence of this agreement that all payments are made by their
due dates.



17   PROMOTIONAL INFORMATION :

     It is agreed that A3 will use its best efforts to promote  to both the
trade and audience the programming listed in this licence agreement.  PTV
will use its best efforts to provide support material and assistance in the
promotion of this programming as soon as possible. 


18   RATING INFORMATION :

     It is agreed that the licensee will provide PTV with all relevant
rating information including demographics for all programming licensed under
this agreement agreed under this licence agreement within 15 days after the
end of the month of broadcast.


19   CONFIDENTIALITY

     The Parties here to shall not disclose to any third party neither the
underlying deal structure nor the Terms and Conditions of this Agreement
without the prior written permission of the Parties, the details of which
shall remain in strictest confidence.


20   WARRANTIES :

20.1 PTV warrants that it has the right to enter into and perform this
agreement. and that the performance of this agreement by either party shall
not infringe upon the rights or result in any liability or obligation to any
third parties except as specifically set forth herein; each of PTV and A3
hereby indemnifies and holds harmless the other, its successors, licensees
and permitted assigns from and against any and all damages, losses, costs,
and expenses (including reasonable attorneys fees) arising out of any breach
of representation, warranty or agreement made by the indemnifying party.   

Page 8

21    AGREEMENT :

21.1 This agreement shall be binding on the parties unless or until they are
superseded by another instrument in writing, signed by the parties, and;
21.2 This Agreement contains the entire agreement of the parties as
currently subsisting and themselves supersede all other agreements,
understanding or arrangements previously subsisting between the parties in
relation to the subject matter hereof.

21.3 This Agreement includes all the Terms and Conditions as listed in
Standard Terms and Conditions attached hereto.

21.4 This Agreement shall not be deemed to create any partnership or any
such relationship between the parties hereto.

21.5 This Agreement and/or any part of this Agreement is personal to the
parties and may not be assigned except to a related company or to a division
or part of its corporate grouping in which case appropriate notice in writing
shall be given to the other party hereto.

21.6 This Agreement shall be construed in accordance with English Law and
the parties submit themselves to the exclusive jurisdiction of the English
courts




IN WITNESS whereof the parties hereto have set their hands the day month and
year first herein before written.


HUNGARIAN BROADCASTING CORPORATION      Peter Klenner, President & CEO
 (Authorised signatory)                 (Print Name and Title)


POWER TELEVISION LIMITED                Justin Bodle
(Authorised signatorory)                (Print Name and Title)