Document:

<PAGE>

                                                                   EXHIBIT 10.27

The form of employment agreement and form of indemnification agreement filed as
    exhibits 10.1 and 10.3 to the Company's quarterly report on Form 10-Q for
    the quarter ended December 31, 2004 have been executed by Mr. Mayer. The
    provisions of the agreements, as amended, are substantially identical in all
    material respects, except that Mr. Mayer is the Company's Senior Vice
    President and Chief Financial Officer, his base compensation is one hundred
    fifty thousand dollars, his severance under certain circumstances is twelve
    months, and his restrictions on competition are for twelve months.<PAGE>

                                                                   EXHIBIT 10.28

The Form of Indemnification Agreement for certain Directors of the Company filed
    as exhibit 10.8 of the Company's Form 10-K for the period ended March 31,
    2004 has been executed by Messrs. Briggs, Lahey, MacDowell, Pena, Seelbach,
    and Springel.TABLE OF CONTENTS

                                                                        PAGE(S)
                                                                        ------
1.     DEFINITIONS...........................................................2
       1.1   Certain Definitions.............................................2
       1.2   Additional Defined Terms.......................................17
2.     PURCHASE AND SALE OF ACQUIRED INTERESTS..............................19
       2.1   Transfer of Acquired Interests.................................19
       2.2   Transferred Assets.............................................19
       2.3   Excluded Liabilities...........................................20
3.     CLOSING; PURCHASE PRICE; ADJUSTMENTS.................................20
       3.1   Closing Date and Location......................................20
       3.2   Purchase Price; Payment of the Purchase Price..................21
       3.3   Purchase Price Adjustments.....................................24
       3.4   Determination of Purchase Price Adjustments....................26
4.     REPRESENTATION AND WARRANTIES REGARDING THE COMPANIES................28
       4.1   Existence; Good Standing and Power; Capitalization.............28
       4.2   Authorization, Company Required Consents.......................30
       4.3   Financial Statements; Indebtedness; Budget; Absence of
             Changes........................................................30
       4.4   Cable Venture and Cable Corp. Assets...........................33
       4.5   The Systems....................................................34
       4.6   Franchises.....................................................36
       4.7   Pole Attachment Agreements.....................................37
       4.8   Real Property..................................................38
       4.9   Material Contracts.............................................39
       4.10  Employees......................................................40
       4.11  Litigation and Judgments.......................................43
       4.12  Tax Returns and Payments of Taxes..............................43
       4.13  Compliance with Laws...........................................45
       4.14  Insurance......................................................46
       4.15  Environmental Matters..........................................46
       4.16  Affiliate Transactions.........................................46
       4.17  Intellectual Property..........................................47
       4.18  Brokers' Fees..................................................48
5.     REPRESENTATIONS OF ML MEDIA AND CENTURY..............................48
       5.1   Representations and Warranties of ML Media.....................48
       5.2   Representations and Warranties of Century......................49
6.     REPRESENTATIONS AND WARRANTIES OF BUYER..............................50
       6.1   Existence......................................................50
       6.2   Authorization; No Conflicts....................................50
       6.3   Litigation.....................................................50
       6.4   Financing......................................................51
7.     ADDITIONAL COVENANTS.................................................51
       7.1   Confidentiality................................................51
       7.2   Notification...................................................52
       7.3   HSR Act Compliance.............................................53

                                       i

<PAGE>

                               TABLE OF CONTENTS
                               -----------------
                                  (continued)

       7.4   Required Consents..............................................53
       7.5   Tax Matters....................................................55
       7.6   Non-Solicitation...............................................59
       7.7   Further Assurances; Satisfaction of Covenants, etc.............59
       7.8   Change of Business Name........................................60
       7.9   Insurance......................................................60
       7.10  Full Access....................................................60
       7.11  Bankruptcy Process.............................................61
       7.12  Continuity and Maintenance of Operations.......................66
       7.13  Completion of the Rebuild of the San Juan System...............69
       7.14  Risk of Loss...................................................71
       7.15  Additional Covenants Regarding the Companies...................71
       7.16  Non-Solicitation; No Competitive Use of Confidential
             Information....................................................73
       7.17  Further Action Regarding Financial Statements..................74
       7.18  Financing......................................................76
       7.19  Intercompany Liabilities.......................................76
       7.20  Sale of ML Media's Joint Venture Interests.....................76
       7.21  Release of Obligations Under Letters of Credit.................76
       7.22  Stand-Alone....................................................73
       7.23  Publicity......................................................73
8.     CONDITIONS PRECEDENT TO THE PARTIES' OBLIGATIONS.....................77
       8.1   Consents from Governmental Authorities.........................77
       8.2   Judgments......................................................77
       8.3   Confirmation Order.............................................77
9.     CONDITIONS PRECEDENT TO BUYER'S OBLIGATIONS..........................77
       9.1   Representations and Warranties of Companies and Sellers........77
       9.2   Covenants......................................................78
       9.3   Material Consents..............................................78
       9.4   Delivery of Certificates and Documents.........................78
       9.5   Escrow Agreement...............................................78
       9.6   Financial Statements...........................................78
       9.7   Material Adverse Change........................................81
       9.8   Subscribers; Operating Cash Flow...............................81
       9.9   Financing......................................................81
       9.10  Confirmation Order.............................................81
       9.11  Payment Motion.................................................81
       9.12  Extension of Rebuild Deadline..................................81
       9.13  Franchise Extensions...........................................81
10.    CONDITIONS PRECEDENT TO COMPANIES' AND SELLERS' OBLIGATIONS..........82
       10.1  Representations and Warranties of Buyer........................82
       10.2  Covenants......................................................82
       10.3  Material Consents..............................................81
       10.4  Delivery of Certificates and Documents.........................82

                                       ii

<PAGE>

                               TABLE OF CONTENTS
                               -----------------
                                  (continued)

       10.5  Escrow Agreement...............................................82
11.    SURVIVAL OF REPRESENTATIONS, WARRANTIES AND COVENANTS;
       INDEMNIFICATION......................................................82
       11.1  Survival of Representations, Warranties and Covenants..........82
       11.2  Indemnification................................................83
       11.3  Assertion of Claims; Notice of and Right to Defend
             Third Party Claims.............................................84

       11.4  Limitations on Liability.......................................86
       11.5  Excluded Tax Liabilities.......................................87
       11.6  Exclusive Remedy...............................................87
       11.7  No Third Party Beneficiaries...................................87
12.    TERMINATION..........................................................87
       12.1  Termination....................................................87
       12.2  Surviving Obligations..........................................89
13.    FEES AND EXPENSES....................................................90
14.    ENTIRE AGREEMENT.....................................................90
15.    PARTIES OBLIGATED AND BENEFITED......................................90
16.    NOTICES..............................................................91
17.    AMENDMENTS AND WAIVERS...............................................92
18.    SEVERABILITY.........................................................92
19.    SECTION HEADINGS AND TERMS...........................................93
20.    COUNTERPARTS.........................................................93
21.    GOVERNING LAW; CONSENT TO JURISDICTION...............................93
22.    SPECIFIC PERFORMANCE.................................................93
23.    FURTHER ASSURANCES...................................................94
24.    CONSTRUCTION.........................................................94

                                      iii

<PAGE>

INDEX OF SCHEDULES AND EXHIBITS
-------------------------------

SCHEDULES

Schedule 1.1(p)             Management, Retention and Sale Bonuses; Other
                            Closing Date Current Liabilities
Schedule 1.1(q)             Closing Date Working Capital
Schedule 1.1(w)             Rebuild
Schedule 1.1(y)             Deferred Revenue
Schedule 1.1(ee)            Discounts and Promotions
Schedule 1.1(jj)            Additional Excluded Liabilities
Schedule 1.1(lll)           Material Consents
Schedule 1.1(ppp)(1)        Operating Cash Flow Adjustments -- Force Majeure
                            Events
Schedule 1.1(ppp)(2)        Operating Cash Flow Adjustments -- Other Adjustments
Schedule 1.1(gggg)          Reference Accounting Principles
Schedule 1.1(llll)          Retained Programming Agreements
Schedule 2.2(e)             Retained Intellectual Property Rights
Schedule 2.2(i)             Transferred Assets
Schedule 3.2(d)             Tax Matters
Schedule 4.1                Joint Venture Existence
Schedule 4.2(b)             Company Required Consents
Schedule 4.3(f)             Certain Changes
Schedule 4.3(g)             Certain Liabilities
Schedule 4.4(b)             Sufficiency of Assets
Schedule 4.5(a)             System Information
Schedule 4.5(b)             Rates and FCC Compliance
Schedule 4.5(c)             Copyright Registrations
Schedule 4.5(d)             Towers and Tower Leases
Schedule 4.6                Franchises and Other Governmental Authorizations
Schedule 4.7                Pole Attachment and Utility Agreement
Schedule 4.8(a)             Owned Real Property
Schedule 4.8(b)             Leases
Schedule 4.9                Other Material Contracts
Schedule 4.10               Employee Matters
Schedule 4.11               Litigation
Schedule 4.12               Taxes
Schedule 4.13               Compliance with Laws
Schedule 4.14               Insurance
Schedule 4.16               Affiliate Transactions
Schedule 4.17               Intellectual Property
Schedule 4.18               Brokers' Fees
Schedule 5.2(c)             Consents
Schedule 5.1(f)             Brokers' Fees
Schedule 5.2(d)             Century Liens
Schedule 5.2(e)             Century Litigation
Schedule 5.2(f)             Brokers' Fees

                                       iv

<PAGE>

                               Table of Contents
                               -----------------
                                  (continued)

Schedule 7.5                Tax Matters
Schedule 7.6                Certain Employees of Sellers and Sellers' Affiliates
Schedule 7.8                Change of Business Name
Schedule 7.12               Continuity of Operations
Schedule 7.13               Rebuild
Schedule 7.15(c)(iii)       Additional Programming Agreements
Schedule 7.22               Stand-Alone Conversion
Schedule 9.6(a)             Allocations

EXHIBITS
--------

Exhibit A                   Intentionally Omitted
Exhibit B                   Intentionally Omitted
Exhibit C                   Transition Services Schedule of Services
Exhibit D                   Intentionally Omitted
Exhibit E                   2005 Budget
Exhibit F                   2003 Unaudited Historical Financials
Exhibit G                   Unaudited 2004 Financials
Exhibit H                   Example of Closing Date Working Capital Calculation
Exhibit I                   Example of Equivalent Subscribers Calculation
Exhibit J                   Example of Operating Cash Flow Calculation
Exhibit K                   Form of Investor Guaranty of Deferred Purchase Price

                                       v

<PAGE>

                         INTEREST ACQUISITION AGREEMENT

            THIS INTEREST ACQUISITION AGREEMENT ("AGREEMENT") is made as of this
3rd day of June, 2005, by and among ML MEDIA PARTNERS,  L.P., a Delaware limited
partnership  ("ML  MEDIA"),   CENTURY   COMMUNICATIONS   CORPORATION,   a  Texas
corporation  ("CENTURY") and a debtor in possession under Chapter 11 of Title 11
of the United  States  Bankruptcy  Code (the  "BANKRUPTCY  CODE");  ML Media and
Century being referred to herein together as "SELLERS",  and each being referred
to herein  individually  as a "SELLER",  CENTURY-ML  CABLE  VENTURE  (the "CABLE
VENTURE"),  a New York  general  partnership  and a debtor in  possession  under
Chapter 11 of the Bankruptcy Code,  consisting of ML Media and Century,  CENTURY
ML CABLE  CORP.,  a Delaware  corporation  d/b/a  Cable TV of  Greater  San Juan
("CABLE CORP.", and together with the Cable Venture,  the "COMPANIES"),  and San
Juan Cable, LLC, a Puerto Rico limited liability company (the "BUYER").

                              W I T N E S S E T H:

            WHEREAS, the Cable Venture owns and operates the  community  antenna
television  ("CATV") system and the activities and operations  ancillary thereto
serving the community of  Levittown,  located in the  Municipality  of Toa Baja,
Puerto  Rico and the  Municipalities  of Toa Alta and  Catano,  Puerto Rico (the
"LEVITTOWN  SYSTEM") and, through its wholly owned subsidiary Cable Corp.,  owns
and operates the CATV system and the activities and operations ancillary thereto
serving the  Municipality  of San Juan,  Puerto Rico and the  Municipalities  of
Bayamon,  Carolina,  Guaynabo  and  Trujillo  Alto,  Puerto  Rico (the "SAN JUAN
SYSTEM";  the  Levittown  System and the San Juan System are  referred to herein
together as the "SYSTEMS" and each individually as a "SYSTEM");

            WHEREAS, on September 30, 2002, Century commenced  a  case  for  the
Cable Venture under Chapter 11 of the Bankruptcy Code (the "CHAPTER 11 CASE") in
the U.S. Bankruptcy Court for the Southern District of New York (the "BANKRUPTCY
COURT");

            WHEREAS, the Sellers hold all right,  title  and  interest in and to
100% of the outstanding joint venture interests in the Cable Venture;

            WHEREAS, the Buyer desires to purchase  from  the  Sellers,  and the
Sellers  wish to sell  to the  Buyer,  100%  of the  outstanding  joint  venture
interests  in the Cable  Venture  pursuant  to this  Agreement  and the Plan (as
defined below);

            WHEREAS, the Cable Venture will file a Plan of Reorganization  (the
"PLAN") in the Chapter 11 Case  for  the  Cable  Venture  that  implements  the
foregoing; and

            WHEREAS, the Sellers and the Cable Venture will seek  entry  by  the
Bankruptcy Court of an Order or Orders approving this Agreement on behalf of the
Cable Venture and approving the transactions contemplated hereby pursuant to the
Plan, and, in the case of Century, authorizing Century to consummate and perform
under the terms of this Agreement and the Plan.

            NOW, THEREFORE,  in  consideration  of  the  mutual  covenants  and
agreements herein set forth  and for other good and valuable consideration, the
receipt and sufficiency of

<PAGE>

which are hereby  acknowledged,  the  parties  hereto,  intending  to be legally
bound, do represent, warrant, covenant and agree as follows:

      1.    DEFINITIONS

1.1 CERTAIN  DEFINITIONS.  The following  capitalized  terms,  when used in this
Agreement, shall have the meaning set forth below:

          (a) "ACCOUNTS RECEIVABLE" shall mean the accounts  receivable  of  the
Companies  arising  prior to the Closing  Date,  including  those  arising  from
advertising sales and tower rentals,  as well as Subscriber  Accounts Receivable
and all other accounts  receivable,  and for which the balances are unpaid as of
such  date,  reflected  net of an  allowance  for  doubtful  accounts  and other
required reserves, all determined in accordance with GAAP and with the Reference
Accounting Principles.

          (b) "ACQUISITION PROPOSAL" shall mean a proposal (other  than  by  the
Buyer  or its  Affiliates)  relating  to  any  merger,  consolidation,  business
combination,  sale or other  disposition of 10% or more of the Companies' assets
pursuant to one or more transactions, the sale of 10% or more of the outstanding
shares of capital stock or equity  interests of the Cable Venture or Cable Corp.
(including,  without limitation, by way of a tender offer, foreclosure,  plan of
reorganization or liquidation or the sale or other disposition of Claims against
the Cable Venture held by any Seller or its Affiliates) or a similar transaction
or business  combination  involving  one or more third  parties  (other than the
Buyer or its  Affiliates) and the Cable Venture,  Cable Corp. or any Seller,  as
the  case may be;  PROVIDED,  HOWEVER,  that a  proposed  transaction  involving
interests in or assets of Adelphia or its subsidiaries, other than its interests
in or assets of the Cable Venture, shall not be deemed an Acquisition Proposal.

          (c) "ADELPHIA"  shall  mean  Adelphia  Communications  Corporation, a
Delaware corporation.

          (d) "AFFILIATE" shall mean, with respect  to  any  Person,  any  other
Person controlling, controlled by or under common control with such Person, with
"control" for such purpose  meaning the possession,  directly or indirectly,  of
the power to direct or cause the direction of the  management  and policies of a
Person,  whether through the ownership of voting securities or voting interests,
by contract or otherwise;  PROVIDED that (i) for purposes  hereof Century and ML
Media  shall be deemed to be  Affiliates  of the Cable  Venture;  (ii)  under no
circumstances  shall  creditors  of the Cable  Venture or Century be  considered
Affiliates of the Cable Venture solely by virtue of their  ownership of creditor
claims against the Cable Venture or Century; and (iii) Merrill Lynch & Co., Inc.
and its subsidiaries and affiliates (other than ML Media and the general partner
of ML Media) shall not be considered  Affiliates of ML Media,  the Cable Venture
or Cable Corp.

          (e) "ASSUMED EXECUTORY CONTRACTS" shall  mean  all  of  the  executory
contracts,   unexpired  leases,  agreements,   commitments,   or  other  binding
arrangements or  understandings,  whether written or oral, of the Cable Venture,
excluding any Transferred Assets.

          (f)  "BANKRUPTCY  RULES"  shall mean the Federal  Rules of  Bankruptcy
Procedure.

                                       2

<PAGE>

          (g) "BUSINESS DAY" shall mean any day other than a Saturday, a  Sunday
or a day on which banking institutions in New York, New York are required or
authorized to be closed.

          (h) "BUYER CONFIDENTIAL INFORMATION"  shall  mean,  collectively,  the
Buyer  Group  Confidential  Information  and,  after the  Closing,  the  Company
Confidential Information.

          (i) "BUYER GROUP" shall mean,  collectively,  (i) the Buyer,  (ii) the
Parent,  (iii) San Juan Cable  Ventures,  LLC, (iv) MCNA Cable Holdings LLC, (v)
the Investors, (vi) each of their respective Affiliates and (vii) the respective
members, officers, directors, employees, professional advisors,  representatives
and other agents of all of the foregoing.

          (j) "BUYER GROUP CONFIDENTIAL INFORMATION" shall  mean,  collectively,
all  information  relating  to the  business  and affairs of the Buyer Group and
their  respective  Affiliates  (including,  without  limitation,  all  nonpublic
information  concerning the terms of the  Transactions)  other than  information
that is as of the date hereof or subsequently becomes generally available to the
public through no fault of, or breach of any confidentiality  obligation by, the
Sellers,  the  Companies  or any  of  their  respective  Affiliates,  agents  or
representatives.

          (k)  "CALCULATION  DATE" shall mean the Previous  Month End UNLESS the
Closing  shall  occur on the last  Business  Day of a month,  in which  case the
Calculation Date shall be the last day of the month.

          (l)  "CAPEX  CASH"  shall  mean an amount  of cash  equal to the CapEx
Surplus.

          (m) "CAPEX  SURPLUS" shall mean the excess,  if any, of (i) the amount
of capital expenditures  required to be made by the Companies between January 1,
2005 and the Previous  Month End pursuant to Section  7.12(a)(vi)  over (ii) the
actual amount of capital  expenditures  made by the Companies between January 1,
2005 and the Closing Date.

          (n) "CLAIM" AND  "CLAIMS"  shall have the meaning set forth in Section
101(5) of the Bankruptcy Code.

          (o) "CLOSING DATE CURRENT ASSETS" shall mean the following, calculated
as of the close of business on the day  preceding the Closing Date in accordance
with GAAP,  to the extent GAAP would  require  such amounts to be set forth in a
regularly  prepared  balance sheet (except as otherwise  provided  herein):  the
Companies' cash on hand and in bank accounts (net of any non-cancelled  uncashed
checks  issued by the  Companies  and less an amount equal to the Unpaid Cost to
Complete the Rebuild (if any),  which shall be deposited into the Rebuild Escrow
Account  pursuant to Section  3.2(b)(i) or paid to the Buyer pursuant to Section
3.2(b)(ii)), cash equivalents,  Accounts Receivable, notes receivable,  deposits
properly  characterized  as  current  assets  arising  in  connection  with  the
Companies'  operation  of  the  Systems,  prepaid  expenses  of  the  Companies,
Inventory and other current assets of the Companies; PROVIDED, that Closing Date
Current   Assets  shall  be  calculated   net  of  all  reserves  for  obsolete,
slow-moving,  damaged or defective Inventory, which reserves shall be calculated
in  accordance  with GAAP and on a basis that is  consistent  with the Reference
Accounting  Principles  and will not  include  (i) any  Transferred  Assets  (as
hereinafter defined),  (ii) any prepaid expenses or deposits, to the extent that
for contractual or other reasons,  such prepaid expenses or deposits will not be
available to

                                       3

<PAGE>

the  Companies  after the Closing  Date,  (iii) any  deferred  Tax assets or any
receivable or other accrued amount  representing  any Tax refund to be received,
(iv) the CapEx Cash (if any) or (v) any Rebuild Inventory.

          (p) "CLOSING DATE  CURRENT  LIABILITIES"  shall  mean  the  following,
calculated  as of the close of business on the day preceding the Closing Date in
accordance  with GAAP,  to the extent GAAP would  require such amounts to be set
forth in a  regularly  prepared  balance  sheet  (except as  otherwise  provided
herein): all subscriber  prepayments and deposits with respect to services to be
provided by the Companies, all of the Companies' trade payables and all accounts
payable  relating to the Rebuild of the San Juan System and all accrued expenses
of the Companies  (including,  without  limitation,  (i) franchise and copyright
fees,  utility  charges,  Taxes,  and assessments  levied against the Companies'
assets,  property and equipment  rentals and similar items,  (ii) any management
bonuses  and any  retention  or sale  bonuses  payable  in  connection  with the
Transactions  and set forth on SCHEDULE  1.1(P) (to the extent not paid prior to
the  Closing),  (iii) accrued  expenses  relating to the Rebuild of the San Juan
System,  and (iv) any Liability of the Companies for fees or  commissions to any
broker, finder or agent with respect to the Transactions (to the extent not paid
prior to the Closing));  PROVIDED that Closing Date Current Liabilities will not
include (i) any  pre-petition  liabilities  of the Cable  Venture,  which if not
satisfied prior to the Closing shall be satisfied  pursuant to the Plan from the
Sellers Escrow Account (as hereinafter  defined) or otherwise discharged without
liability of the Buyer or the Companies, (ii) any Affiliate Liabilities,  all of
which shall be satisfied  pursuant to Section 7.19, (iii) any Deferred  Revenues
or deferred Tax liabilities,  (iv) any Excluded Liabilities; (v) any Indemnified
Tax Liabilities of the Companies  other than accruals,  in accordance with GAAP,
for Taxes  incurred in the ordinary  course of operations  consistent  with past
practice  for any tax period or portion of any tax period  ending on or prior to
the day  preceding  the Closing  Date;  (vi) any  withholding  tax payable  with
respect to pre-petition programming payment obligations of the Companies,  (vii)
any accrual of payments with respect to the Pole Attachment Agreements in excess
of the actual  amount  payable by the  Companies  under the current terms of the
Pole Attachment Agreements,  or (viii) any rejection damage claim relating to an
executory  contract  that the  Buyer  has  requested  be  rejected  by the Cable
Venture.

          (q) "CLOSING DATE WORKING CAPITAL"  shall  mean  the  sum  of (i)  the
amount of the Closing Date Current Assets,  less (ii) the amount of Closing Date
Current  Liabilities,  plus (iii) except as otherwise  provided in Section 7.22,
any one-time  amounts spent by the Companies after the date of this Agreement to
implement  the  Companies'  ability to operate as a  Stand-Alone  as provided in
Section 7.22, plus (iv) the amount set forth on SCHEDULE 1.1(q).  As the Closing
Date  Working  Capital  is  calculated  as of the close of  business  on the day
preceding  the Closing Date,  the  operations of the Systems on the Closing Date
are for the  account of the Buyer.  An example of how the Closing  Date  Working
Capital  would have been  calculated  if the Closing had been held on January 1,
2005 is attached as EXHIBIT H.

          (r) "CODE" shall mean the Internal  Revenue Code of 1986,  as amended,
and the rules and regulations  promulgated  thereunder as in effect from time to
time.

          (s) "COMMONWEALTH" shall mean the Commonwealth of Puerto Rico.

                                       4

<PAGE>

          (t) "COMPANIES' KNOWLEDGE", or words to similar effect, shall mean the
actual  knowledge after due inquiry of (i) the current members of the management
board of the Cable  Venture and the board of directors of the Company (I. Martin
Pompadur,  Elizabeth  McNey Yates,  Jeffrey Lawton and Joseph Bagan),  (ii) each
other person who serves as a member of the management board of the Cable Venture
or the board of directors of Cable Corp.  after the date of this Agreement,  and
(iii) each of the following persons: David Beyth, Mark Chambers (with respect to
tax matters only), Bob DeLucia (with respect to accounting  matters only), Keith
Hayes (with respect to  engineering  matters only),  Jean Simmons,  Mayra Torres
(with respect to local accounting matters only) and Mark Spiecker.

          (u) "COMPANY CONFIDENTIAL  INFORMATION"  shall  mean  all  information
relating to the business and affairs of the Cable  Venture or Cable Corp.  other
than information that is as of the date hereof or subsequently becomes generally
available  to the public  through no fault of, or breach of any  confidentiality
obligation by, the Buyer or any of its Affiliates, agents or representatives.

          (v) "COMPANY REQUIRED CONSENTS" shall mean the Required  Consents  set
forth on SCHEDULE 4.2(b).

          (w) "COMPLETION OF THE REBUILD OF THE SAN JUAN SYSTEM" shall mean  the
completion of the Rebuild of the San Juan System to the specifications set forth
on SCHEDULE 1.1(w).

          (x) "COPYRIGHT OFFICE" shall mean the United States Copyright Office.

          (y) "DEFERRED REVENUES" shall mean all deferred revenue of  the  types
set forth on SCHEDULE  1.1(Y)  calculated in accordance  with GAAP  consistently
applied in accordance with the Reference  Accounting  Principles  resulting from
(i) liabilities  related to the receipt of cash prior to the delivery of service
to customers, (ii) deferred revenue recognized in connection with the Centennial
Lease,  and (iii)  liabilities  resulting from the receipt of cash in connection
with Launch Incentives and/or repositioning incentives which have been amortized
into revenue in subsequent periods.

          (z) "DOJ" shall mean the Antitrust Division of the United States
Department of Justice.

          (aa) "EMPLOYEE BENEFIT PLAN" shall  mean  each: (a)  Employee  Pension
Benefit Plan (including any  Multiemployer  Plan);  (b) Employee Welfare Benefit
Plan; and (c) any other employee  benefit plan,  program or arrangement  that is
maintained,  sponsored,  contributed  or required to be contributed to by either
Company or with  respect to which  either  Company  has any actual or  potential
Liability.

          (bb) "EMPLOYEE PENSION BENEFIT PLAN" shall have the meaning set forth
in Section 3(2) of ERISA.

          (cc) "EMPLOYEE WELFARE BENEFIT PLAN" shall have the meaning set forth
in Section 3(1) of ERISA.

                                       5

<PAGE>

          (dd) "ENVIRONMENTAL LAW" shall mean any Legal Requirement (including,
without limitation,  all common law) relating to or concerning  pollution or the
protection  of  the   environment,   including   those  relating  to  emissions,
discharges,  releases or threatened  releases of Hazardous  Substances  into the
environment and natural resources  (including ambient air, surface water, ground
water  or  land),  or  otherwise   relating  to  the  manufacture,   processing,
distribution,  use,  generation,  treatment,  storage,  disposal,  transport  or
handling of, or exposure of persons to, Hazardous Substances,  including without
limitation the Comprehensive Environmental Response,  Compensation and Liability
Act of 1980 (42 U.S.C. ss.ss. 9601 et seq.) ("CERCLA");  the Hazardous Materials
Transportation  Authorization  Act of 1994 (49 U.S.C.  ss.ss. 5101 et seq.); the
Federal  Insecticide,  Fungicide,  and Rodenticide Act (7 U.S.C.  ss.ss.  136 et
seq.); the Solid Waste Disposal Act (42 U.S.C.  ss.ss.  6901 et seq.); the Toxic
Substance  Control Act (15 U.S.C.  ss.ss.  2601 et seq.);  the Clean Air Act (42
U.S.C.  ss.ss. 7401 et seq.); the Federal Water Pollution Control Act (33 U.S.C.
ss.ss.  1251 et seq.); the Safe Drinking Water Act (42 U.S.C.  ss.ss.  300(f) et
seq.);  the Wildlife Act of 1999 (12 L.P.R.A.  ss.ss.  107 et seq.);  the Act to
Protect the Purity of Drinking Water of Puerto Rico (12 L.P.R.A.  ss.ss.  405 et
seq.);  the Law of Waters of 1903 (12 L.P.R.A.  ss.ss.  501 et seq.); the Law of
Waters of 1976 (12 L.P.R.A.  ss.ss. 1115 et seq.); the Puerto Rico Public Policy
Environmental  Act (12  L.P.R.A.  ss.ss.  1121 et seq.);  and the  Environmental
Emergencies  Fund Act (12 L.P.R.A.  ss.ss.  1271 et seq.),  each as from time to
time  amended,  and any  and all  regulations  promulgated  thereunder,  and all
analogous state, local and foreign  counterparts or equivalents and any transfer
of ownership notification or approval statutes.

          (ee) "EQUIVALENT SUBSCRIBER"  shall   mean,   as   of   any   date  of
determination,  the sum of (1) the number of first outlet residential  customers
of the Systems who subscribe  for basic CATV or high-speed  data service only at
the normal  applicable  monthly rate (or at a discount rate  resulting  from the
discounts and  promotions  set forth on SCHEDULE  1.1(ee) or other  discounts or
promotions in the ordinary course of business and not materially  different from
those set forth on SCHEDULE  1.1(ee)) for basic CATV or high-speed  data service
then in effect in the  relevant  System  (except as provided  below),  and whose
accounts (other than amounts (including Non-Recurring Charges,  disputed amounts
and other  amounts)  collectively  not in excess of $10.00) are not  outstanding
more than  eighty-nine  (89) days from the original  invoice date;  plus (2) the
result  obtained by dividing  (a) the  aggregate of the gross  monthly  billings
during the most recent one-month billing period prior to the date of calculation
for basic and expanded  basic CATV service (but excluding (i) billings in excess
of a single  month's  charge and (ii)  billings  for a la carte tiers or premium
services,  installation or other Non-Recurring Charges,  converter rental or new
product tiers,  any outlet or connection  other than such  customer's  first, or
from any pass through  charges for sales taxes,  line-itemized  franchise  fees,
fees  charged  by the  FCC and the  like)  from  non-standard  bulk  billed  and
commercial  subscribers  who  subscribe  for basic CATV service  whose  accounts
(other than amounts (including Non-Recurring Charges, disputed amounts and other
amounts)  collectively  not in excess of $10.00) are not  outstanding  more than
eighty-nine  (89) days from the original invoice date, by (b) the Franchise Area
prevailing  monthly  service  charge in effect  during  such  period for a first
outlet  residential  connection  for basic and expanded  basic CATV service (but
excluding  billings for a la carte tiers or premium  services,  installation  or
other Non-Recurring  Charges,  converter rental or new product tiers, any outlet
or connection other than such customer's first, or from any pass through charges
for sales taxes,  line-itemized  franchise fees, fees charged by the FCC and the
like);  PROVIDED,  that for purposes of this  Agreement,  a subscriber  does not
include (i) any person, commercial establishment or multi-unit dwelling that has
requested that basic CATV or, in the case of high

                                       6

<PAGE>

speed data only  subscribers,  high-speed data service be terminated (other than
any  person  requesting  such  termination  who has  re-located  within the area
covered by the Franchises  and has requested CATV or high-speed  data service in
the new  location)  and (ii) any  Promotional  Subscriber  in  excess  of 13,000
Promotional  Subscribers.  An example of how Equivalent  Subscribers  would have
been  calculated  if the  Closing had been held on March 31, 2005 is attached as
EXHIBIT I. A "PROMOTIONAL SUBSCRIBER" is either (i) a residential subscriber who
pays less than the normal applicable monthly rate for a first outlet residential
connection  for  basic  CATV  service  or  (ii)  a  residential  subscriber  who
subscribes only for high-speed data and who pays less than the normal applicable
monthly rate for high-speed data service.

          (ff) "ERISA" shall mean the Employee Retirement Income Security Act of
1974, as amended.

          (gg)  "ERISA  AFFILIATE"  shall  mean any  entity  treated as a single
employer with the Companies for purposes of Section 414 of the Code.

          (hh)  "ESCROW  AGENT"  shall  mean the Escrow  Agent  under the Escrow
Agreement.

          (ii) "ESCROW AGREEMENT" shall mean an escrow  agreement  in  form  and
substance reasonably acceptable to the Buyer and the Sellers and consistent with
the terms of this Agreement among the Escrow Agent, the Sellers and the Buyer to
be dated as of the Closing Date, pursuant to which funds shall be deposited into
the Indemnity Escrow Account and, to the extent necessary hereunder, the Rebuild
Escrow  Account  as set forth in this  Agreement.  The  Escrow  Agreement  shall
provide  that on June 30, 2006 an amount equal to  $12,500,000  (less any claims
previously asserted by the Buyer and paid to the Buyer or then pending) shall be
released,  any amount  held past June 30,  2006  pending  resolution  of a claim
previously asserted by the Buyer shall be released upon resolution of that claim
(except to the extent payable to the Buyer), and the remainder shall be released
on December 31, 2006 (less any then pending claims asserted by the Buyer).

          (jj) "EXCLUDED  LIABILITIES"  shall mean:  (i) all  Liabilities of the
Companies in connection with the Chapter 11 Case including,  without limitation,
any  cure  amounts  associated  with the  assumption  of the  Assumed  Executory
Contracts,  but  excluding any  rejection  damage  claims  relating to executory
contracts  that the Buyer has requested be rejected by the Cable  Venture;  (ii)
all Affiliate  Liabilities;  (iii) all  Liabilities of the Companies to Highland
Holdings,  any  member  of the  Rigas  family  or  their  respective  Affiliates
(including,  without  limitation,  claims  arising  out of or in  respect of the
Leveraged  Recapitalization  Agreement);  (iv) all  Liabilities of the Companies
arising  from or relating to any matter set forth on SCHEDULE  1.1(jj);  (v) all
Liabilities  of the Companies  with respect to management  retention,  change of
control  or  sale  bonuses,   accelerated  incentive  obligations  or  severance
payments,  if any,  to the  extent  such  Liabilities  arise as a result  of the
Transactions and are not reflected as a Closing Date Current Liability; (vi) all
Liabilities which arise,  whether before, on or after the Closing,  out of or in
connection  with the  Transferred  Assets (other than any costs  incurred by the
Buyer or the Companies in replacing any Transferred  Assets),  including any Tax
liability  with  respect  to the  transfer  of  the  Transferred  Assets  or any
Liabilities  under  Environmental  Laws with respect to the Transferred  Assets;
(vii) all Rebuild Cost Overruns (but only if the Buyer has not elected to

                                       7

<PAGE>

accept a reduction  of the  Purchase  Price in respect of the Rebuild of the San
Juan System pursuant to Section 3.2(b)(ii));  (viii) all Liabilities  (including
any contractual or statutory  severance  payments or benefits)  arising from the
discharge of any employees  working  exclusively  on the Rebuild of the San Juan
System  upon the  Completion  of the Rebuild of the San Juan System (but only if
the Buyer has not elected to accept a reduction of the Purchase Price in respect
of the Rebuild of the San Juan System pursuant to Section 3.2(b)(ii));  (ix) all
Liabilities  of the  Companies  arising  under  ERISA to the  extent  that  such
Liabilities (a) arise (1) under an Employee Benefit Plan covering both employees
of the  Companies  and  employees  of a member of the  Seller  Group or (2) as a
result of either of the Companies'  being an ERISA Affiliate of any other member
of the  Seller  Group or (b)  arise  from or relate to  pre-Closing  actions  or
inactions of the Sellers, their Affiliates, or the Companies, including, without
limitation,  the  costs  of  any  corrective  actions  taken  post-Closing,  and
regardless of whether such costs and liabilities  relate to items that have been
listed on the Schedules attached hereto; (x) all Liabilities for amounts payable
or allowed to professionals  retained by the Sellers or the Companies in respect
of the  Chapter  11 Case or the  bankruptcy  of  Century  (whether  pursuant  to
sections  327  or 105 of  the  Bankruptcy  Code  or  otherwise);  and  (xi)  all
withholding  tax  payable  with  respect  to  pre-petition  programming  payment
obligations of the Companies.

          (kk) "FAA" shall mean the Federal Aviation Administration.

          (ll) "FCC" shall mean the Federal Communications Commission.

          (mm) "FINAL ORDER" shall mean an Order with respect  to  the  subject
matter (a) that has not been reversed,  stayed,  modified,  or amended and as to
which (i) any right to appeal or to seek certiorari,  review, reargument,  stay,
or rehearing  has been waived or (ii) the time to appeal or to seek  certiorari,
review, reargument,  stay or rehearing has expired and no appeal or petition for
certiorari,  review,  reargument,  stay,  or rehearing is pending,  or (b) as to
which an appeal has been taken or petition for certiorari,  review,  reargument,
stay,  or  rehearing  has  been  filed  and (i)  such  appeal  or  petition  for
certiorari,  review,  reargument,  stay,  or rehearing  has been resolved by the
highest  court to which  the  order  or  judgment  was  appealed  or from  which
certiorari,  review, reargument,  stay, or rehearing was sought or (ii) the time
to appeal  further or seek  certiorari,  further  review,  reargument,  stay, or
rehearing  has expired and no such further  appeal or petition  for  certiorari,
further review, reargument,  stay, or rehearing is pending,  PROVIDED,  HOWEVER,
that the  possibility  that a motion under Rule 59 or 60 of the Federal Rules of
Civil  Procedure  or an  analogous  rule under the Federal  Rules of  Bankruptcy
Procedure may be filed shall not cause such order not to be a Final Order.

          (nn) "FRANCHISE" shall  mean  all  franchise  agreements  and  similar
governing agreements, instruments and resolutions and franchise related statutes
and  ordinances  or  written   acknowledgements  of  a  Governmental   Authority
authorizing the construction,  upgrade, maintenance and operation of any part of
the Systems and provision of cable  television,  data services and communication
and  information  services  in San  Juan,  Puerto  Rico  and the  municipalities
comprised  within the San Juan System and in  Levittown  and the  municipalities
comprised within the Levittown System.

                                       8

<PAGE>

          (oo) "FRANCHISE AREA" shall mean, with respect  to  a  Franchise,  the
geographic  area in which the Cable  Venture or Cable  Corp.  is  authorized  to
operate any part of a System pursuant to such Franchise.

          (pp) "FRANCHISING AUTHORITY" shall mean, with respect to a  Franchise,
the Governmental Authority granting such Franchise.

          (qq) "FTC" shall mean the Federal Trade Commission.

          (rr) "FUNDED DEBT"  of the Companies shall mean, without  duplication,
all  obligations  under  indebtedness  for borrowed  money  (including,  without
limitation,   principal,  interest,   overdrafts,   penalties,  premiums,  fees,
expenses, indemnities and breakage costs), all obligations under leases required
to be  capitalized  under  GAAP,  notes  payable,  guaranties,  drafts  accepted
representing extensions of credit.

          (ss) "GAAP" shall mean generally accepted accounting principles as in
effect from time to time in the United States of America.

          (tt) "GOVERNMENTAL AUTHORITY" shall mean the government of the United
States of America and the Commonwealth,  any state,  commonwealth,  territory or
possession thereof and any political subdivision or quasi-governmental authority
of  any  of  the  same,  including,  but  not  limited  to,  courts,  tribunals,
departments,  commissions, bureaus, agencies, boards, counties,  municipalities,
provinces, parishes and other instrumentalities.

          (uu)  "GOVERNMENTAL  AUTHORIZATIONS"  shall  mean,  collectively,  all
Franchises and other authorizations,  agreements,  Licenses, permits, approvals,
easements, registrations,  qualifications,  leases, variances and similar rights
for and with respect to the installation,  construction,  ownership or operation
of the Systems obtained from any Governmental Authority or pursuant to any Legal
Requirements.

          (vv)  "HAZARDOUS   SUBSTANCE"  shall  mean  any  hazardous   material,
pollutant,  contaminant, waste, toxic substance, hazardous substance or nuisance
substance which is regulated by or forms the basis of liability now or hereafter
under any Environmental Laws, including without limitation, (i) petroleum or any
refined  product  or  fraction  or  derivative  thereof,  (ii)  asbestos,  (iii)
polychlorinated biphenyls (PCBs) and (iv) radioactive substances.

          (ww) "HSR ACT" shall mean the Hart Scott Rodino Antitrust Improvements
Act of 1976, as amended, and the rules and regulations promulgated thereunder as
in effect from time to time.

          (xx)  "INDEMNIFIED  TAX  LIABILITIES"  shall mean all  Liabilities for
Taxes of the  Companies or the Sellers for taxable  periods  ending on, or prior
to,  the  day  immediately  preceding  the  Closing  Date  and  the  portion  of
Liabilities  for  Taxes  relating  to the  Pre-Closing  Tax  Straddle  Period as
determined pursuant to Section  7.5(a)(ii),  other than Liabilities for Taxes to
the extent accrued for on the Closing Date Balance Sheet and included in Closing
Date Current Liabilities.

                                       9

<PAGE>

          (yy) "INTELLECTUAL PROPERTY"   shall  mean  trademarks,  trade  names,
service marks, service names, fictitious names, logos and Internet domain names,
together  with all  goodwill,  registrations  and  applications  related  to the
foregoing;   patents  and  industrial   designs  (including  any  continuations,
divisionals, continuations-in-part, renewals, reissues, and applications for any
of the foregoing);  copyrights (including any registrations and applications for
any of the foregoing);  computer software and related documentation;  mask works
and registrations and applications for registrations  thereof; trade secrets and
confidential business information (including research and development, know-how,
data, databases,  customer and supplier lists, pricing and cost information, and
business and marketing plans and proposals); and all other intellectual property
and proprietary rights.

          (zz)  "INVENTORY"  shall mean,  without  limitation,  all  amplifiers,
active   electronics,   passive   electronics,   processor/receivers,    coaxial
cable/fiber  cable,   connectors,   installation  materials,   parts,  packaging
materials and other  accessories and inventories  related thereto which are held
at,  or  are in  transit  from  or  to,  or  located  at  any of the  Companies'
facilities, which are used or held for use by the Companies in the operation and
maintenance  of the  Systems,  determined  in  accordance  with GAAP;  PROVIDED,
HOWEVER, that Inventory shall not include Rebuild Inventory.

          (aaa) "JV AGREEMENT"  shall mean the Amended and Restated  Management
Agreement  and  Joint  Venture  Agreement of  Century/ML  Cable  Venture  dated
January 1, 1994.

          (bbb) "LAUNCH INCENTIVES" shall mean cash payments or other launch fee
incentives  received  by  the  Companies  or  their  Affiliates  in  respect  of
programming launches, or other changes in programming, by the Companies.

          (ccc) "LEASED REAL PROPERTY" shall mean all leasehold or  subleasehold
estates  and  other  rights to use or occupy  any land,  buildings,  structures,
improvements,  fixtures or other interest in real property held by the Companies
other  than (a) Owned Real  Property,  (b) rights  pursuant  to Pole  Attachment
Agreements,  and  (c)  rights  pursuant  to  easements,   licenses  and  similar
instruments.

          (ddd) "LEGAL REQUIREMENTS" shall mean any  statute,  ordinance,  code,
law, rule,  regulation,  permit or permit condition,  administrative or judicial
decree, order or other requirement,  standard or procedure enacted or adopted by
any  Governmental   Authority,   including   judicial   decisions   applying  or
interpreting common law or statutory law.

          (eee) "LEVERAGED  RECAPITALIZATION AGREEMENT" shall mean the Leveraged
Recapitalization Agreement dated December 13, 2001, among Century, ML Media, the
Cable Venture, Adelphia and Highland Holdings.

          (fff) "LIABILITY" shall mean any liability  (whether known or unknown,
whether asserted or unasserted, whether absolute or contingent, whether accrued
or unaccrued, whether liquidated or unliquidated, and whether due or to  become
due and regardless of when or by whom asserted), including, without limitation,
any liability for Taxes.

          (ggg) "LICENSES" shall mean any license, permit or other authorization
(other than a Franchise) issued by a Governmental Authority, including, but not
limited to, the FCC,

                                       10

<PAGE>

used in the  construction,  operation or maintenance of the Systems  (including,
but not  limited to, TV  translator  station  licenses  and  microwave  licenses
(including,  but not limited to,  Cable  Television  Relay  Services  "CARS" and
Television Receive Only "TVRO" earth station registrations)).

          (hhh) "LIEN" shall mean any mortgage,  lien  (statutory or otherwise),
security interest, security agreement, conditional sale or other title retention
agreement,   pledge,   option,   charge,   assessment,   restrictive  agreement,
restriction,  encumbrance,  adverse interest,  adverse claim,  voting agreement,
restriction  on  transfer  or any  exception  to or  defect  in  title  or other
ownership interest.

          (iii) [Intentionally Omitted]

          (jjj)  "MANAGEMENT FEE" shall mean,  collectively,  (i) the management
fee payable to Century  pursuant to Section  7.3(b) of the JV Agreement and (ii)
any reimbursement to Century for  out-of-pocket  expenses incurred in connection
with its management of the Systems payable to Century pursuant to Section 7.3(c)
of the JV Agreement.

          (kkk) "MATERIAL  ADVERSE EFFECT" shall mean a material  adverse effect
on the assets,  business,  operations,  condition  (financial  or  otherwise) or
results of operations of the Cable Venture, Cable Corp. and the Systems taken as
a whole; PROVIDED, HOWEVER, that a Material Adverse Effect shall not include any
event,  change or effect relating to or caused by (i) the  Transactions,  (ii) a
general  economic  downturn  or any other  change in the  Puerto  Rican  economy
generally,  including,  but not  limited  to,  an  increase  in  interest  rates
(PROVIDED   that  such   general   economic   downturn   or   change   does  not
disproportionately  adversely  affect the  Companies or the  Systems),  or (iii)
changes affecting the CATV or communications  industry generally  (PROVIDED that
such changes do not  disproportionately  adversely  affect the  Companies or the
Systems);  PROVIDED,  HOWEVER,  for  purposes of Section 9.1,  Material  Adverse
Effect shall not include any event,  change,  or effect relating to or caused by
acts of war or terrorism.

          (lll) "MATERIAL  CONSENTS" shall mean the Required  Consents set forth
on Part B of SCHEDULE 4.2(b).

          (mmm) "MATERIAL CONTRACT"   shall   mean (i)   the   Pole   Attachment
Agreements,  (ii) the Leases, (iii) the Collective Bargaining  Agreements,  (iv)
the IP Licenses and (v) each other contract,  agreement, lease, permit, license,
fiber lease,  microwave  agreement or  commitment,  whether  written or oral, to
which the Cable  Venture or Cable  Corp.  is a party and that is material to the
operation of its  respective  System  (other than the  Programming  Agreements),
including  each material  underground  conduit  agreement,  crossing  agreement,
retransmission  consent  agreement  and  multiple  dwelling,   bulk  billing  or
commercial service agreement.

          (nnn) "MULTIEMPLOYER PLAN" shall have the   meaning   set   forth   in
Section 3(37) of ERISA.

          (ooo) "NON-RECURRING CHARGES"  shall  mean  late  charges,  disconnect
fees, amounts that are the subject of a bona fide dispute and  any other similar
non-recurring charges.

                                       11

<PAGE>

          (ppp) "OPERATING CASH FLOW" shall mean, for  any 12-month  period,  an
amount, calculated for the Cable Venture and Cable Corp. on a consolidated basis
in accordance with GAAP (without duplication),  equal  to  the consolidated  net
income of the Cable Venture and Cable Corp., adjusted by:

          (i) excluding (to the extent taken into account  in  calculating  such
consolidated  net income,  and without  duplication),  (1) audit  expenses  with
respect to any fiscal year in excess of $102,000, (2) costs and expenses payable
to non-Affiliate third parties of the Chapter 11 Case including, but not limited
to,  non-recurring  third party  professional  expenses directly relating to the
bankruptcy or the  reconstruction  and  restatement of the Companies'  books and
records   (exclusive  of  financial   statement   audit   expenses   payable  to
non-Affiliate  third parties included in clause (1) above),  (3)  reorganization
expenses due to the bankruptcy,  impairments, and write-offs of fixed assets and
intangible  assets,  (4) costs and expenses relating to the proposed sale of the
Acquired Interests,  including  negotiation,  preparation and closing under this
Agreement and the Related  Agreements  and the  Transactions  and any additional
expenses payable to  non-Affiliated  third parties in connection with the review
by PWC of the Interim  Financials in  accordance  with Section 7.17 or otherwise
relating  to the Buyer's  financing,  and any  retention  bonuses  payable  upon
consummation  of  the  Transactions  (exclusive  of  financial  statement  audit
expenses payable to non-Affiliated  third parties included in clause (1) above),
(5) the historical  non-recurring  amounts  resulting from  hurricanes and other
force majeure events, all as set forth specifically on SCHEDULE 1.1(PPP)(1), (6)
the  items set  forth on  SCHEDULE  1.1(PPP)(2);  or (7)  other  items  that are
requested  by  Sellers  to  be  included  as  adjustments  (including,   without
limitation,  adjustments intended to "normalize" expenses that are paid within a
particular  period  but  that  reflect  (in  whole or in  part)  costs  that are
attributable  to past or future  periods),  but only as and to the  extent  such
amounts  in this  clause  (7) are  agreed to by the Buyer  and are  accepted  as
Permitted Add-Backs by the lenders who are parties to the Commitment Letters for
debt  financing  (or such other  lenders as may provide  debt  financing  to the
Buyer);  PROVIDED, that if after the date of this Agreement there is a hurricane
or other force majeure event that has a non-recurring effect on the Systems, the
Buyer shall accept as additional  exclusions  from the  calculation of Operating
Cash Flow for the  applicable  period an amount  equal to the  lesser of (x) the
actual  non-recurring  amounts  attributable  to such  hurricane  or other force
majeure event that were deducted in calculating the  consolidated  net income of
the  Companies  in such period and (y) $500,000  (with any amount over  $500,000
being  subject to the  agreement of the Buyer and the  acceptance by the Buyer's
lenders, as contemplated by clause (6) above);

               (ii) adding  back  (in  each  case  to  the  extent  deducted  in
calculating such  consolidated net income,  and without  duplication) (1) income
tax expense,  (2) interest expense  (whether paid or accrued),  (3) depreciation
and amortization expense, (4) any accrual of expenses to the extent related to a
period other than such 12-month period,  (5) the Management Fee (whether paid or
accrued) and (6) any loss on sale of assets;

               (iii)  subtracting  (in  each  case  to the  extent  included  in
calculating such consolidated net income, and without  duplication) (1) interest
income,  (2) any gain on sale of assets, (3) any accrual of revenue or income to
the extent related to a period other than such 12-month  period and (4) any non-
recurring credits or reductions of expenses (including, without

                                       12

<PAGE>

limitation,  credits or  reductions  of expenses  resulting  from  settlement or
rejection of obligations by the Bankruptcy Court);

               (iv) adding back any  expenses to  non-Affiliated  third  parties
incurred  in  complying  with the  covenants  in Sections  7.15(a)(i)  and (iv),
(b)(i), (c)(i), (ii) and (iv) and (d)(i); and

               (v) except as otherwise provided in Section 7.22, adding back (i)
any one-time  expenses  incurred in converting the Companies to a Stand-Alone as
required by Section 7.22, (ii) any incremental expenses incurred in operating as
a Stand-Alone (measured by comparison to the ongoing expenses that were incurred
for the comparable service(s) replaced by the Stand-Alone service(s)), and (iii)
any expenses incurred in recording any lease pursuant to Section 7.24.

For purposes of  calculating  Operating  Cash Flow,  any increase or decrease in
expenses  resulting from a change in the methods of determining  the Allocations
or the products or services  included within the Allocations from that set forth
on SCHEDULE 9.6(a) shall be excluded.

An example of how Operating Cash Flow would have been calculated if the Closing
had been held on December 31, 2004 is attached as EXHIBIT J.

          (qqq) "ORDER" shall mean an order or judgment of the Bankruptcy  Court
or other court of competent jurisdiction.

          (rrr) "OTHER MATERIAL  CONTRACTS" shall mean Material  Contracts other
than (i) the Pole Attachment  Agreements,  (ii) the Leases, (iii) the Collective
Bargaining Agreements and (iv) the IP Licenses.

          (sss) "OWNED  REAL  PROPERTY"  shall  mean  all  land,  together  with
all buildings,  structures,  improvements and fixtures located thereon,  and all
easements  and other  rights  and  interests  appurtenant  thereto  owned by the
Companies  (other than any interests in real  property  granted or created under
the Pole Attachment Agreements).

          (ttt) "PARENT" shall mean  San  Juan  Cable  Holdings LLC,  a  limited
liability company organized under the laws of Puerto Rico, and "Investors" shall
mean,  collectively,  (i) MidOcean Partners,  LP, (ii) MidOcean Partners II, LP,
(iii) Crestview  Capital  Partners,  LP, (iv) AlpInvest  Partners CS Investments
2005 C.V., (v) AlpInvest Partners Later Stage Co-Investments  Custodian II B.V.,
(vi) AlpInvest Partners Later Stage Co-Investments  Custodian IIA B.V. and (vii)
The Northwestern Mutual Life Insurance Company.

          (uuu) "PERMITTED ADD-BACK" shall mean any amount that the lenders  who
are parties to the Commitment  Letters for debt financing (or such other lenders
as may provide  debt  financing to the Buyer) allow to be counted as an add-back
to or an exclusion from the calculation of EBITDA (or any comparable metric used
by the  lenders)  that has the effect of  increasing  EBITDA,  but only if, as a
result of such  allowance,  the lenders do not alter the terms or the pricing of
the debt financing in any manner that is adverse to the Buyer.

                                       13

<PAGE>

          (vvv) "PERMITTED LIENS"  shall  mean  the   following:  (i)  statutory
landlord's  liens and liens for  current  Taxes,  assessments  and  governmental
charges not yet due and payable (or being contested in good faith by appropriate
proceedings for which there is an adequate reserve determined in accordance with
GAAP);  (ii)  zoning and other land use laws,  regulations  and  ordinances  and
similar Legal Requirements regulating the construction, use or occupancy of Real
Property  which are not  violated by the current use or  occupancy  of such Real
Property or the operation of the business  associated with the Systems  thereon;
(iii)  as  to  interests  in  real  property,  any  easements,  rights  of  way,
servitudes,  permits,  restrictions and minor imperfections or irregularities in
title that are reflected in the public records or that do not individually or in
the  aggregate  materially  interfere  with the right or  ability  to own,  use,
occupy, lease or operate the real property as presently utilized or the right or
ability to construct, install, maintain, use or operate any part of the Systems;
(iv) Liens that will be released or  terminated at or before the Closing and (v)
other Liens that do not, individually or in the aggregate,  materially interfere
with  Buyer's  right to own the interest in the property to which they relate or
operate the Systems.

          (www) "PERSON"   shall   mean   any   natural   person,   corporation,
partnership, trust, unincorporated organization, association, limited  liability
company, Governmental Authority or other entity.

          (xxx) "PR TAX CODE" shall mean the Puerto Rico  Internal  Revenue Code
of 1994, as amended.

          (yyy)  "PR  TREASURY  REGULATIONS"  shall  mean  the  regulations  and
pronouncements  issued  by the  Puerto  Rico  Department  of the  Treasury  that
interpret the provisions of the PR Tax Code.

          (zzz)  "PREVIOUS  MONTH  END"  shall  mean the  last day of the  month
preceding the month in which the Closing occurs.

          (aaaa)  "PROGRAMMING  AGREEMENTS"  shall mean all  satellite-delivered
programming  agreements and other agreements under which the Systems obtain CATV
and broadcast programming to which either of the Companies, the Sellers or their
respective Affiliates is a party.

          (bbbb)    "PUERTO   RICO   BOARD"   shall   mean   the   Puerto   Rico
Telecommunications Regulatory Board.

          (cccc) "PWC" shall mean PriceWaterhouseCoopers LLP.

          (dddd)  "REAL  PROPERTY"  shall mean the Leased Real  Property and the
Owned Real Property.

          (eeee) "REBUILD  INVENTORY" shall mean stocks of parts,  equipment and
materials  inventories  maintained by the Companies  required for the purpose of
completing the Rebuild of the San Juan System,  but shall not include any stocks
in excess of the amounts required to complete the Rebuild.

                                       14

<PAGE>

          (ffff)  "REBUILD OF THE SAN JUAN SYSTEM" or  "REBUILD"  shall mean the
rebuild  and/or  upgrade of the  portion  of the San Juan  System  described  in
SCHEDULE 1.1(W) to achieve the specifications set forth on SCHEDULE 1.1(W).

          (gggg)  "REFERENCE  ACCOUNTING  PRINCIPLES"  shall mean the accounting
principles, policies and methodologies of the Companies, which are in accordance
with GAAP,  that were employed in the  preparation  of the  unaudited  financial
statements as of and for the year ended December 31, 2003 (which are attached to
this  Agreement  as  EXHIBIT  F) and  are  reflected  in the  footnotes  to such
financial statements,  including without limitation the principles, policies and
methodologies  employed with respect to Allocations and capitalization of labor,
as modified by SCHEDULE 1.1(gggg); PROVIDED, HOWEVER, that if (i) the accounting
principles  used in  preparing  the  2004  Audited  Financials  differ  from the
Reference  Accounting  Principles  and (ii) the Buyer has  consented to any such
differences, the term "Reference Accounting Principles" with respect to the 2004
Audited  Financials  and the  interim  financials  for 2005 and for  purposes of
Section  3.4 shall be deemed to  incorporate  any such  changes  accepted by the
Buyer.

          (hhhh) "REGULATORY LAW" shall mean  the HSR  Act,  the  Federal  Trade
Commission  Act, as amended,  the  Communications  Act of 1934, as amended,  the
Puerto Rico  Telecommunications  Act of 1996,  as  amended,  and all other Legal
Requirements that are designed or intended to (x) prohibit, restrict or regulate
actions having the purpose or effect of  monopolization or restraint of trade or
lessening  of  competition  through  merger or  acquisition  or (y) regulate the
provision  of cable  television,  telecommunications  or other  services  by the
Companies.

          (iiii) "RELATED AGREEMENT" shall  mean  each  of  (i)  the  Transition
Services Agreement, (ii) the Escrow Agreement, (iii) the Investor Guaranty, (iv)
the Expense  Reimbursement  Letter  dated  April 29, 2005 by and among  MidOcean
Partners,  L.P.,  the  Sellers  and the  Companies  and (v)  any  other  written
agreement  or  certificate,  other than this  Agreement,  that is  executed  and
delivered by the Buyer, the Sellers,  the Cable Venture or Cable Corp.  pursuant
to or contemporaneously with this Agreement.

          (jjjj) "REQUIRED CONSENT"    shall   mean   any   approval,   consent,
authorization  or act  of,  or any  declaration,  notice,  filing,  application,
registration  or other  action with or to, any  Governmental  Authority or other
Person under any Governmental  Authorization,  Material  Contract,  agreement or
other  instrument  or otherwise  that is necessary to be obtained in  connection
with the  consummation or  effectiveness  of the Transactions in accordance with
the terms of this Agreement and the Related Agreements.

          (kkkk) "RESTRICTED CASH" shall mean  (i)  subscriber  prepayments  and
deposits  with  respect to services to be  provided  by the  Companies  and (ii)
Launch Incentives  received by the Companies since January 1, 2005 to the extent
that such Launch  Incentives relate to post-Closing  programming  obligations of
the Companies.

          (llll) "RETAINED PROGRAMMING AGREEMENTS" shall  mean  the  Programming
Agreements set forth on SCHEDULE 1.1(llll).

                                       15

<PAGE>

          (mmmm) "SEC" shall  mean  the United States  Securities  and  Exchange
Commission.

          (nnnn) "SELLER CONFIDENTIAL INFORMATION" shall mean, collectively, the
Seller Group Confidential Information and the Company Confidential Information.

          (oooo) "SELLER GROUP" shall mean, collectively,  (i) the Sellers, (ii)
the  Companies,  and  (iii)  their  respective  members,  officers,   directors,
employees, professional advisors, representatives and other agents.

          (pppp) "SELLER  GROUP   CONFIDENTIAL   INFORMATION"   shall  mean  all
information relating to the business and affairs of ML Media or Century or their
respective  Affiliates  other than  information that is as of the date hereof or
subsequently  becomes generally  available to the public through no fault of, or
breach of any confidentiality obligation by, the Buyer or any of its Affiliates,
agents or representatives.

          (qqqq) "SELLER PERSON" shall mean any Seller or any Affiliate  of  any
Seller.

          (rrrr) "SUBSCRIBER ACCOUNTS RECEIVABLE" shall mean accounts receivable
of the Companies  resulting from the provision of cable  television  and/or data
service  (excluding  receivables  from the sale of advertising and tower rental)
prior to the Closing Date.

          (ssss) "TERMINATION DATE" shall mean December 31, 2005, except that if
Sellers fail to deliver the Audited Financials by August 31, 2005 or the Interim
Financials  by  September  15, 2005 to meet the  conditions  in Section 9.6 then
Buyer may,  by notice to the  Sellers  given by November  15,  2005,  extend the
Termination Date to January 31, 2006.

          (tttt) "TRANSACTIONS" shall mean, collectively, (i)  the  purchase  of
the Acquired  Interests,  (ii) the merger immediately  thereafter of Cable Corp.
with and into the Buyer, and (iii) the other  transactions  contemplated by this
Agreement and the Related Agreements.

          (uuuu)  "TRANSITION  SERVICES  SCHEDULE OF SERVICES"  shall mean those
services to be  provided by Century to the Buyer after the Closing  Date and the
costs for those  services  as set forth on  Exhibit C pursuant  to a  transition
services  agreement (the  "Transition  Services  Agreement") to be negotiated in
good faith by Century and the Buyer reflecting such services and costs.  Century
shall only be required to provide the  transition  services until the earlier of
(a) June 30, 2006, or (b) the closing of the sale of Adelphia.

          (vvvv) "UNPAID COST TO COMPLETE THE REBUILD" shall mean the  estimated
unpaid  cost to  complete  the  Rebuild of the San Juan System as of the Closing
Date, as determined by the Cable Venture in good faith based on costs previously
incurred  by the Cable  Venture in  connection  with the Rebuild of the San Juan
System (with amounts spent to purchase Rebuild Inventory and accounts payable or
accrued  expenses  relating to the  Rebuild of the San Juan  System  included as
Closing Date Current  Liabilities  deemed for all purposes of this  Agreement as
amounts paid prior to the Closing Date).

     (wwww) "WORKING CAPITAL TARGET" shall mean $0.

                                       16

<PAGE>

1.2   ADDITIONAL  DEFINED  TERMS.  The  following  terms are defined in the
respective Sections set forth below:

<TABLE>
<CAPTION>

                        TERM                              SECTION
                        ----                              -------

         <S>                                         <C>
        1992 Act                                          4.5(b)
        2005 Budget                                       4.3(e)
        ACM                                             7.15(a)(iv)
        Acquired Interests                                  2.1
        Affiliate Liabilities                              7.19
        Agreement                                        Recitals
        Allocation Schedule                               9.6(a)
        Allocations                                       9.6(a)
        Alternate Agreements                          7.11(c)(ii)(C)
        Audited 2004 Financials                           9.6(c)
        Audited Financials                                4.3(c)
        Bankruptcy Code                                  Recitals
        Bankruptcy Court                                 Recitals
        Basket                                            11.4(a)
        Board                                         7.11(c)(ii)(A)
        Break-Up Fee                                  7.11(c)(iv)(B)
        Buyer                                            Recitals
        Cable Corp.                                      Recitals
        Cable Venture                                    Recitals
        Cash Purchase Price                               3.2 (a)
        CATV                                             Recitals
        Century                                          Recitals
        Chapter 11 Case                                  Recitals
        Closing                                             3.1
        Closing Date                                        3.1
        Closing Date Balance Sheet                       3.4(b)(i)
        Collective Bargaining Agreement                   4.10(e)
        Commitment Letters                                  6.4
        Communications Act                                4.5(b)
        Companies                                        Recitals
        Company Intellectual Property                     4.17(c)
        Confirmation Order                                7.11(a)
        Copyright Act                                     4.5(b)
        Debt Commitment Letter                              6.4
        Deferred Purchase Price                           3.2 (a)
        Disclosure Statement                              7.11(a)
        Draft 2004 Financials                             9.6(b)
        Estimated Adjustment Certificate                  3.4(a)
        Estimated Closing Date Balance Sheet              3.4(a)
        Expense Reimbursement                         7.11(c)(iv)(A)
        Expense Reimbursement Agreement               7.11(c)(iv)(A)
        Franchise Extensions                              7.4(b)
        Indemnitee                                         11.3

                                       17

<PAGE>

                        TERM                              SECTION
                        ----                              -------

        Indemnitor                                         11.3
        Indemnity Escrow Account                         3.2(c)(i)
        Independent Accountant                          3.4(b)(ii)
        Independent Engineer                              7.13(d)
        Interim Financials                                4.3(c)
        Investor Guaranty                                 3.2(e)
        Investors                                        1.1(ttt)
        IP Licenses                                       4.17(b)
        IRS                                               4.10(j)
        Key Personnel                                       7.6
        Leases                                            4.8(b)
        Levittown System                                 Recitals
        Losses                                            11.2(a)
        Mark Owner                                          7.8
        Matching Right                                7.11(c)(ii)(C)
        Maximum Permissible Reduction                     12.1(l)
        ML JV Interests                                    7.20
        ML Media                                         Recitals
        Non-Solicitation Period                            7.16
        Objection Notice                                3.4(b)(ii)
        Offering Documents                                7.17(c)
        Operating Cash Flow Statement                    3.4(b)(i)
        Plan                                             Recitals
        Pole Attachment Agreement                           4.7
        Post-Closing Period                               4.12(e)
        Pre-Closing Period                                4.12(e)
        Pre-Closing Tax Straddle Period                 7.5(a)(ii)
        Puerto Rico Telecommunications Act                4.5(b)
        Purchase Price                                    3.2(a)
        Rebuild Cost Overrun                              7.13(e)
        Rebuild Employees                                 4.10(m)
        Rebuild Escrow Account                            3.2(b)
        Rebuild Escrow Amount                             3.2(b)
        Rebuild Extension Date                            7.4(b)
        Remaining Unpaid Cost                             3.2(b)
        Retained Marks                                    2.2(e)
        Revised Schedule 4.6(e)                            7.21
        S-1 Financial Statements                          7.17(b)
        San Juan System                                  Recitals
        Securities Act                                    7.17(b)
        Sellers                                          Recitals
        Sellers' Adjustment Certificate                  3.4(b)(i)
        Sellers Escrow Account                          3.2(c)(iii)
        Shortfall                                          11.6
        Stand-Alone                                        7.22

                                       18

<PAGE>

                        TERM                              SECTION
                        ----                              -------

        Superior Proposal                             7.11(c)(ii)(A)
        Supplemental Interim Financials                   7.17(e)
        System                                           Recitals
        Tax                                               4.12(a)
        Tax Benefit                                       11.4(c)
        Tax Return                                        4.12(a)
        Taxing Authority                                  4.12(a)
        Third-Party Claim                                  11.3
        11.3
        Transferred Assets                                2.2(i)
        Transferred Programming Agreements                2.2(a)
        Treasury Regulations                              4.12(a)
        Unaudited 2004 Financials                         4.3(a)
        Unaudited Financials                              4.3(a)
        Unaudited Historical Financials                   4.3(a)
        WARN Act                                        4.3(h)(ix)

</TABLE>

          2.    PURCHASE AND SALE OF ACQUIRED INTERESTS

     2.1 TRANSFER OF ACQUIRED  INTERESTS.  Subject to the terms,  provisions and
conditions  contained in this Agreement,  on the Closing Date, in  consideration
for payment by the Buyer of the  Purchase  Price  pursuant to Section  3.2,  the
Sellers shall sell to the Buyer,  and the Buyer shall purchase from the Sellers,
all of the Sellers' joint venture  interests in the Cable Venture (the "ACQUIRED
INTERESTS")  pursuant to the terms of the Plan and, as a result of such sale and
purchase,  the Cable Venture shall,  by operation of law, be liquidated into the
Buyer.  Immediately  thereafter,  the Buyer shall cause Cable Corp. to be merged
with and into the Buyer,  and the Buyer  shall be the  surviving  entity in such
merger.

     2.2 TRANSFERRED ASSETS.  Notwithstanding  anything in this Agreement to the
contrary,   the  Buyer  expressly  agrees  and  acknowledges  that,  immediately
following  the  merger of Cable  Corp.  with and into the Buyer,  the  following
rights and assets will be  terminated or will be assumed and assigned to Century
or its designee (in the case of items (a),  (b),  (c),  (e), (f) and (i)), to ML
Media (in the case of item (g)) and to the Sellers  Escrow Account (in all other
cases)  (or as  Century  and ML  Media  may  otherwise  agree in  writing  or as
otherwise  provided in the Plan) and that  neither  the Buyer nor the  Companies
otherwise will have any right, title or interest with respect to such rights and
assets from and after the Closing:

          (a) all Programming Agreements other  than  the  Retained  Programming
Agreements  (collectively,  the "TRANSFERRED  PROGRAMMING  AGREEMENTS"),  all of
which Transferred  Programming Agreements will be terminated with respect to the
Systems on the Closing Date;

          (b) except as provided in Section 2.2(d), insurance  policies,  surety
instruments  and  bonds  held  by  the  Companies  or in  respect  of any of the
Companies'  assets, and all rights and claims of the Companies  thereunder,  but
only to the extent indicated on SCHEDULE 4.14;

                                       19

<PAGE>

          (c) except as provided in Section 7.15(c)(iv), licenses  for  billing
and customer service software used by the Companies and any rights  to  receive
billing services or management services;

          (d) all claims, rights and interests of the Companies in  and  to  any
refunds or credits in respect of federal, state,  Commonwealth or local Taxes to
the extent such  refunds are for the account of the Sellers  pursuant to Section
7.5(a)(iii)  and any  refunds of fees for  periods  prior to and  including  the
Closing Date, including, without limitation, excise taxes and copyright fees and
any refunds of pre-paid  insurance  premiums or other pre-paid expenses relating
to the insurance policies transferred pursuant to Section 2.2(b);

          (e) the  trademarks,  trade  names,  service  marks,  service   names,
fictitious  names  and  logos  set forth on SCHEDULE 2.2(e)  (collectively,  the
"RETAINED MARKS");

          (f) all  claims, rights and interests of the Cable  Venture  or  Cable
Corp. against ML Media and its Affiliates;

          (g) all claims, rights and interests of the  Cable  Venture  or  Cable
Corp.  against  Century  and its  Affiliates  or against any member of the Rigas
family or any of their Affiliates (subject to a 50% interest in the net recovery
received  from any member of the Rigas  family or their  Affiliates  in favor of
Century);

          (h) any  preference,  fraudulent   transfer  and/or  avoidance  claims
asserted  by the Cable  Venture  against any  Affiliate  (other than ML Media or
Century) prior to the Closing and pending as of the Closing Date; and

          (i) the other  rights and assets set forth on SCHEDULE  2.2(i) (all of
the  foregoing  in clauses  (a)  through  (i),  collectively,  the  "TRANSFERRED
ASSETS").

     2.3 EXCLUDED LIABILITIES. Notwithstanding anything in this Agreement to the
contrary, the Sellers and the Companies expressly agree and acknowledge that the
Buyer  shall  have no  liability  for any  Excluded  Liability,  and that at the
Closing all Excluded  Liabilities  shall be assumed and assigned  from the Cable
Venture or Cable Corp.,  as the case may be, to the Sellers or the Seller Escrow
Account and the Buyer shall not  thereafter  bear any obligation or liability of
any kind with respect to such Excluded Liabilities.

          3.    CLOSING; PURCHASE PRICE; ADJUSTMENTS

     3.1 CLOSING DATE AND LOCATION. The consummation of the sale and delivery of
the  Acquired  Interests  to the  Buyer  and the  receipt  of the  consideration
therefor by payment as provided in Section 3.2 shall  constitute  the "CLOSING."
Unless  otherwise agreed by the parties or if this Agreement shall be terminated
pursuant to the terms hereof,  the Closing shall take place at 10:00 a.m., local
time, at the offices of Proskauer  Rose LLP, 1585  Broadway,  New York, New York
10036 and shall  occur on the date that is three  (3)  Business  Days  following
satisfaction or waiver of all of the conditions to Closing set forth in Sections
8, 9 and 10,  other  than  those  conditions  which by their  terms  can only be
satisfied on the Closing Date;  PROVIDED  that if such third  Business Day shall
fall on or after the 20th day of any month,  then the Closing shall occur on the
last Business Day of such month.  The date on which the Closing  actually occurs
shall

                                       20

<PAGE>

constitute the "CLOSING DATE." Notwithstanding the foregoing, this Agreement may
be terminated pursuant to Section 12.1(b) hereof if the Closing has not occurred
by the  Termination  Date.  The  parties  hereto  agree to use their  respective
commercially  reasonable  efforts  to cause  the  Closing  to occur on or before
October 31, 2005.

     3.2   PURCHASE PRICE; PAYMENT OF THE PURCHASE PRICE.

          (a) The purchase  price  for  the  Acquired  Interests  shall  be  the
aggregate amount of Five Hundred Twenty Million Dollars  ($520,000,000)  in cash
(the "PURCHASE  PRICE"),  subject to adjustment in accordance  with Sections 3.3
and 3.4, plus the transfer of the  Transferred  Assets  pursuant to Section 2.2.
The  Purchase  Price  payable in cash shall be payable as follows:  $506,500,000
(the "CASH PURCHASE  PRICE"),  subject to adjustment in accordance with Sections
3.3 and 3.4, shall be payable at the Closing as provided in Section 3.3(c),  and
$13,500,000  (the  "DEFERRED  PURCHASE  PRICE")  shall be payable as provided in
Section 3.3(d).

          (b) On the Closing Date, if the Completion of the Rebuild of  the  San
Juan  System  has not  occurred  (as  finally  determined  pursuant  to  Section
7.13(d)),  the Companies  shall,  at the Buyer's  option,  either (i) deposit in
cash, by wire transfer of immediately  available  funds,  an amount equal to the
Unpaid  Cost to  Complete  the  Rebuild  to the  Escrow  Agent,  to be held in a
separate  interest bearing rebuild escrow account (the "REBUILD ESCROW ACCOUNT")
pursuant to the Escrow  Agreement,  which funds (the  "REBUILD  ESCROW  AMOUNT")
shall be applied to pay any  remaining  costs to complete the Rebuild of the San
Juan System in accordance  with Section 7.13, or (ii) pay that amount,  in cash,
by wire transfer of immediately  available funds, to the Buyer as a reduction of
the  Purchase  Price,  in  which  case  the  Sellers  shall  no have no  further
obligations  with respect to the Rebuild  pursuant to Section 7.13 or otherwise.
If (x) the Buyer elects to cause the Companies to deposit an amount equal to the
Unpaid Cost to Complete  the Rebuild in the Rebuild  Escrow  Account and (y) the
Companies have insufficient cash on the Closing Date to make such deposit,  then
the Buyer shall remedy any such  deficiency  (the  "REMAINING  UNPAID  COST") by
depositing  an amount equal to the Remaining  Unpaid Cost in the Rebuild  Escrow
Account and reducing the amount  payable to the Sellers at the Closing  pursuant
to Section 3.2(c)(ii) by an equal amount.

          (c) On the Closing Date, the Buyer shall pay,  by  wire  transfers  of
immediately  available  funds,  an aggregate  amount equal to the Cash  Purchase
Price, as preliminarily  adjusted in accordance with Sections 3.3 and 3.4(a), as
follows:

               (i) The Buyer shall deliver or  cause  to  be  delivered  to  the
Escrow Agent an amount equal to $25,000,000, to be held by the Escrow Agent in a
separate interest bearing account (the "INDEMNITY  ESCROW ACCOUNT")  pursuant to
the Escrow Agreement, which funds (together with interest thereon) shall be paid
in whole or in part in accordance with the terms of the Escrow  Agreement to (1)
the Buyer if and to the extent it is  determined  that the Buyer is  entitled to
indemnification  payments under Section  11.2(b) of this  Agreement  (other than
pursuant to Section  11.2(b)(v) except as permitted by Section 11.5), or (2) the
Sellers  Escrow  Account (as  defined  below) (or in  accordance  with any other
written  instructions given by both of the Sellers to Buyer and the Escrow Agent
prior to the payment) to the extent the Buyer is not  determined  to be entitled
to any such payments referred to in clause (1).

                                       21

<PAGE>

               (ii) The Buyer shall deliver  or  cause  to  be  delivered  to  a
separate  interest  bearing  escrow  account for the benefit of the Sellers (the
"SELLERS ESCROW  ACCOUNT") or in accordance with any other written  instructions
jointly given by the Sellers to the Buyer prior to the Closing, the remainder of
the Cash Purchase Price (or  $481,500,000),  subject to reduction as provided in
Section 3.2(b) and this Section 3.2(c)(ii).  Immediately  following the Closing,
the Buyer shall wire to the Sellers Escrow  Account (or in accordance  with such
instructions)  the amount by which the Purchase  Price is increased  pursuant to
the  preliminary  adjustments  to the Purchase  Price  contained in Section 3.3,
Section 3.4(a) and (if applicable)  Section 7.13(d) and the Buyer shall transfer
and assign the  Transferred  Assets as provided in Section  2.2. If the Purchase
Price is decreased pursuant to such adjustments, the payment by the Buyer at the
Closing to the Sellers Escrow Account (or in accordance with such  instructions)
shall be  reduced by the  amount of the  adjustments.  Release of funds from the
Sellers Escrow Account may only be made as provided by (x) written  agreement of
both Century and ML Media, or (y) Order of the Bankruptcy Court. The Buyer Group
shall have no right to limit distributions from the Sellers Escrow Account.

          (d) The Buyer shall pay the Deferred  Purchase  Price,  together  with
interest on the unpaid  portion of the  Deferred  Purchase  Price at the rate of
3.5% per year, as follows:

               (i) the amount set   forth   opposite   each   item   listed   on
Schedule  3.2(d)(i)  (pertaining to  Certificates  of Debt) shall be paid to the
Sellers when that item is fully paid or settled, provided that the Sellers shall
provide  evidence  satisfactory  to the Buyer for such  payment  or  settlement,
including  receipts,  confirmation  letter of  similar  documents  issued by the
respective Taxing Authority.

               (ii) the amount  set  forth  on  Schedule 3.2(d)(ii) (subject  to
possible  reduction as set forth  below)  shall be paid within 10 Business  Days
after the earlier of (A) the  completion of the pending tax  examination  by the
Puerto Rico Treasury  Department with respect to the taxable year ended December
31, 2000 and the receipt of written  documentation from such Treasury Department
providing that the  examination  with respect to the taxable year in question is
closed,  or (B) the  expiration  of the Puerto  Rico  four-year  tax  statute of
limitations   with  respect  to  the  taxable  year  ended  December  31,  2000.
Notwithstanding  the  foregoing,  the payment  shall be reduced in amount by the
total of then  outstanding  (or  previously  paid) claims  asserted by the Buyer
under  the  procedures  set  forth in  Section  11.3(g)  of this  Agreement  for
indemnification  payments  with  respect  to any  taxable  year or period  under
Section  11.2(b)(v)  of  this  Agreement  (pertaining  to  any  Indemnified  Tax
Liability).  The amount set forth on Schedule  3.2(d)(ii) (or any lesser amount,
to the extent  reduced as described in this  Section  3.2(d)(ii))  shall be then
paid to the Sellers.

               (iii) the amount set forth on  Schedule 3.2(d)(iii)  (subject  to
possible  reduction as set forth  below)  shall be paid within 10 Business  Days
after the earlier of (A) the  completion of the pending tax  examination  by the
Puerto Rico Treasury  Department with respect to the taxable year ended December
31, 2001 and the receipt of written  documentation from such Treasury Department
providing that the  examination  with respect to the taxable year in question is
closed,  and (B) the  expiration  of the Puerto  Rico  four-year  tax statute of
limitations   with  respect  to  the  taxable  year  ended  December  31,  2001.
Notwithstanding  the  foregoing,  the payment  shall be reduced in amount by the
total of then outstanding (or previously paid) claims

                                       22

<PAGE>

asserted by the Buyer under the procedures set forth in Section  11.3(g) of this
Agreement  for  indemnification  payments  with  respect to any taxable  year or
period under Section 11.2(b)(v) of this Agreement (pertaining to any Indemnified
Tax  Liability).  The amount set forth on  Schedule  3.2(d)(iii)  (or any lesser
amount, to the extent reduced as described in this Section 3.2(d)(iii)) shall be
then paid to the Sellers.

               (iv) the amount  set  forth  on  Schedule 3.2(d)(iv) (subject  to
possible  reduction as set forth  below)  shall be paid within 10 Business  Days
after the earlier of (A) the  completion of the pending tax  examination  by the
Puerto Rico  Department  of  Treasury  with  respect to the  taxable  year ended
December 31, 2002 and the receipt of written  documentation  from such  Treasury
Department  providing that the  examination  with respect to the taxable year in
question is closed,  and (B) the  expiration  of the Puerto Rico  four-year  tax
statute of limitations with respect to the taxable year ended December 31, 2002.
Notwithstanding  the  foregoing,  the payment  shall be reduced in amount by the
total of then  outstanding  (or  previously  paid) claims  asserted by the Buyer
under  the  procedures  set  forth in  Section  11.3(g)  of this  Agreement  for
indemnification  payments  with  respect  to any  taxable  year or period  under
Section  11.2(b)(v)  of  this  Agreement  (pertaining  to  any  Indemnified  Tax
Liability).  The amount set forth on Schedule  3.2(d)(iv) (or any lesser amount,
to the extent  reduced as described in this  Section  3.2(d)(iv))  shall be then
paid to the Sellers.

               (v) the  amount  set  forth  on  Schedule 3.2(d)(v)  (subject  to
possible  reduction as set forth  below)  shall be paid within 10 Business  Days
after the earlier of (A) the  commencement  and  completion of a Puerto Rico tax
examination  with  respect to the taxable  year ended  December 31, 2003 and the
receipt of written  documentation from such Treasury  Department  providing that
the examination with respect to the taxable year in question is closed,  and (B)
the  expiration  of the Puerto Rico  four-year tax statute of  limitations  with
respect to that taxable year.  Notwithstanding the foregoing,  the payment shall
be  reduced  in amount by the total of then  outstanding  (or  previously  paid)
claims  asserted by the Buyer under the procedures set forth in Section  11.3(g)
of this Agreement for indemnification  payments with respect to any taxable year
or  period  under  Section  11.2(b)(v)  of  this  Agreement  (pertaining  to any
Indemnified Tax Liability).  The amount set forth on Schedule  3.2(d)(v) (or any
lesser  amount,  to the extent  reduced as described in this Section  3.2(d)(v))
shall be then paid to the Sellers.

               (vi) the  amount set forth  on  Schedule 3.2(d)(vi)  (subject  to
possible  reduction as set forth  below)  shall be paid within 10 Business  Days
after the earlier of (A) the  commencement  and  completion of a Puerto Rico tax
examination  with  respect to the taxable  year ended  December 31, 2004 and the
receipt of written  documentation from such Treasury  Department  providing that
the examination with respect to the taxable year in question is closed,  and (B)
the  expiration  of the Puerto Rico  four-year tax statute of  limitations  with
respect to that taxable year.  Notwithstanding the foregoing,  the payment shall
be  reduced  in amount by the total of then  outstanding  (or  previously  paid)
claims  asserted by the Buyer under the procedures set forth in Section  11.3(g)
of this Agreement for indemnification  payments with respect to any taxable year
or  period  under  Section  11.2(b)(v)  of  this  Agreement  (pertaining  to any
Indemnified Tax Liability).  The amount set forth on Schedule 3.2(d)(vi) (or any
lesser amount,  to the extent  reduced as described in this Section  3.2(d)(vi))
shall be then paid to the Sellers.

                                       23

<PAGE>

                (vii) the amount set forth on Schedule 3.2(d)(vii) shall be paid
to the Sellers in  installments as set forth on Schedule  3.2(d)(vii)  within 10
Business Days after the earlier of (A) the  commencement and completion of a tax
examination by the IRS for the specified year, or (B) the expiration of the U.S.
three-year  statute of limitations for the specified year.  Notwithstanding  the
foregoing,  the payment shall be reduced in amount if and to the extent that the
U.S.  Internal  Revenue Service asserts a claim or proposed  adjustment in Taxes
owed in connection with such tax examination for the year in question,  and such
claim or proposed  adjustment  shall then be subject to the procedures set forth
in Section 11.3(g) of this Agreement.

               (viii) any and all amounts by which the above payments in Section
3.2(d)(ii)-(vii) (pertaining to years ended on or before December 31, 2004) have
been reduced shall be paid (i) to the Buyer,  as indemnity  payments for the tax
losses  suffered  by the  Buyer,  only  after a final  determination  of a claim
asserted  by a  Taxing  Authority  (as  provided  in  Section  11.3(g)  of  this
Agreement)  or  agreement  between  the Buyer and the  Sellers,  subject  to the
principles and procedures set forth in Section 11 of this Agreement,  or (ii) to
the  Sellers,  if and to the extent  there is a final  determination  of a claim
asserted by the Taxing Authority favorable to the taxpayer,  upon the expiration
of the applicable  statute of limitations,  or upon agreement  between the Buyer
and the Sellers.

          (e) The Deferred Purchase Price shall be guaranteed by  the  Investors
pursuant to a Guaranty in the form of EXHIBIT K (the "INVESTOR GUARANTY").

          (f) Each payment of the Deferred Purchase Price shall be made together
with accrued interest on the amount paid.

     3.3   PURCHASE PRICE ADJUSTMENTS.

          (a) The Purchase Price shall be (i) increased on  a  dollar-for-dollar
basis by the amount that the Closing  Date Working  Capital  exceeds the Working
Capital Target or decreased on a dollar-for-dollar  basis by the amount that the
Closing  Date  Working  Capital is less than the Working  Capital  Target,  (ii)
decreased on a  dollar-for-dollar  basis by the amount of any outstanding Funded
Debt (to the extent such Funded Debt is not  included as a Closing  Date Current
Liability or discharged  under the Plan) and (iii)  reduced  pursuant to Section
7.15(e) (if applicable).

          (b) Except as provided in Section 3.3(d),  and subject to the Sellers'
termination right in Section 12.1(l), if the number of Equivalent Subscribers as
of the Closing Date is less than the Subscriber  Target as set forth below, then
the  Purchase  Price shall be reduced by an amount  equal to the Per  Subscriber
Price as set forth below multiplied by the shortfall.

                                       24

<PAGE>

<TABLE>
<CAPTION>

    --------------------------------------------------------------------
                                 Subscriber        Per Subscriber
          Closing Date             Target               Price
    --------------------------------------------------------------------
    <S>                           <C>                    <C>

    On or before                  136,797                $3,801
    September 30, 2005
    --------------------------------------------------------------------
    From October 1, 2005 to
    and including October
    31, 2005                      136,947                 3,797
    --------------------------------------------------------------------
    From November 1, 2005
    to and including              137,097                 3,793
    November 30, 2005

    --------------------------------------------------------------------
    From and after
    December 1, 2005              137,247                 3,789
    --------------------------------------------------------------------

</TABLE>

          (c) Except as provided in Section 3.3(d), and subject to the  Sellers'
termination  right  in  Section  12.1(l),  if the  Operating  Cash  Flow for the
12-month period ending on the  Calculation  Date is less than the Operating Cash
Flow Target as set forth below,  then the Purchase  Price shall be reduced by an
amount  equal  to the  product  of the  Multiple  as set  forth  below  and  the
shortfall:

<TABLE>
<CAPTION>

                                 Operating
          Closing Date           Cash Flow
                                   Target           Multiple
    -------------------------- ---------------  ------------------
    <S>                         <C>                   <C>

    On or before August 31,     $52,000,000           10.00
    2005
    ---------------------------------------------------------------
    From September 1, 2005
    to and including October    $52,500,000           9.90
    31, 2005
    ---------------------------------------------------------------
    From November 1, 2005 to
    and including               $52,750,000           9.86
    November 30, 2005
    ---------------------------------------------------------------
    From and after
    November 30, 2005           $53,000,000           9.81
    ---------------------------------------------------------------
</TABLE>

Notwithstanding the foregoing,  if all of the conditions to Closing set forth in
Sections 8, 9 and 10,  other than  Section  9.9 and other than those  conditions
which by their  terms  can only be  satisfied  on the  Closing  Date,  have been
satisfied by October 26, 2005, the Operating Cash Flow Target shall not increase
on or after November 1, 2005.

          (d)  Notwithstanding  anything to the  contrary  in Section  3.3(b) or
Section  3.3(c),  if there  otherwise  would be reductions in the Purchase Price
pursuant to both Section  3.3(b) and Section  3.3(c),  then the  Purchase  Price
shall be reduced only by the greater of the reduction pursuant to Section 3.3(b)
and the reduction pursuant to Section 3.3(c).

                                       25

<PAGE>

     3.4   DETERMINATION OF PURCHASE PRICE ADJUSTMENTS

          (a) CLOSING  DATE  ESTIMATED  ADJUSTMENTS.  In  order  to  adjust  the
Purchase  Price  payable at the Closing on a preliminary  basis  (subject to the
final adjustments to be made pursuant to Section 3.4(b)) to reflect the Purchase
Price  adjustments  set forth in Section  3.3, at least five (5)  Business  Days
prior to the  Closing  Date,  the Cable  Venture  shall  deliver  to the Buyer a
certificate  setting forth in reasonable  detail the Cable  Venture's good faith
estimates  of the  adjustments  pursuant to Section 3.3 as well as of the Unpaid
Cost to Complete the Rebuild (if any),  including (i) the estimated Closing Date
Working Capital,  (ii) the estimated  outstanding Funded Debt (if any) as of the
Closing Date,  (iii) the estimated  number of Equivalent  Subscribers  as of the
Calculation  Date (and, if the  Calculation  Date is not the Closing  Date,  the
estimated number of Equivalent  Subscribers as of the Closing Date) and (iv) the
Operating  Cash Flow for the 12-month  period  ending on the Previous  Month End
(the "ESTIMATED  ADJUSTMENT  CERTIFICATE"),  together with an estimated  Closing
Date balance sheet (the  "ESTIMATED  CLOSING DATE BALANCE SHEET") and supporting
documentation in reasonable detail. The Estimated  Adjustment  Certificate shall
be  prepared  from the  Companies'  books and records in  accordance  with GAAP,
consistently applied with and subject to the accounting  principles set forth in
Section 3.4(d), except as otherwise expressly provided herein, and shall reflect
the good faith,  reasonable estimates of the Companies and the Sellers and shall
be accompanied by a certificate of the Companies  specifying that all actual and
estimated  amounts  comply and were  prepared  in  accordance  with the terms of
Sections 3.3 and 3.4 and, to the Companies' Knowledge,  are true and complete in
all material respects.  If the Buyer disagrees with the Cable Venture's estimate
of any of the  adjustments  to the  Purchase  Price or with the Cable  Venture's
estimate  of the Unpaid Cost to Complete  the  Rebuild,  the Buyer and the Cable
Venture shall endeavor in good faith to agree on the amount thereof prior to the
Closing.  If the  Buyer  and the  Cable  Venture  are  unable  to  agree  on the
adjustments  to the  Purchase  Price or the Unpaid Cost to Complete the Rebuild,
the Purchase  Price  payable at the Closing shall  reflect,  in the case of each
disputed amount,  50% of the difference  between the Cable Venture's estimate of
such disputed  amount and the Buyer's good faith estimate  thereof (in each case
reflecting  any  changes to original  estimates  that have been agreed to by the
parties during their attempts to resolve all differences), and the remaining 50%
shall be deposited  into a separate  account  pursuant to the Escrow  Agreement;
PROVIDED,  HOWEVER,  that the foregoing shall not affect any dispute between the
Buyer and the Sellers  concerning the  satisfaction  of a closing  condition set
forth in Section 9. The  Estimated  Adjustment  Certificate  shall be amended to
reflect any such compromises.

          (b) POST-CLOSING DETERMINATION OF ADJUSTMENTS.

               (i) The Sellers shall deliver to the Buyer, not later than ninety
(90) days  following the Closing Date, a certificate  setting forth a good faith
determination of the adjustments to the Purchase Price (the "SELLERS' ADJUSTMENT
CERTIFICATE"), together with a consolidated balance sheet of the Companies as of
the day  preceding  the Closing Date (the  "CLOSING  DATE BALANCE  SHEET") and a
statement  of  Operating  Cash  Flow  for  the  12-month  period  ending  on the
Calculation Date (the "OPERATING CASH FLOW STATEMENT") and such other supporting
documentation  in  reasonable  detail  as the Buyer may  request.  The  Sellers'
Adjustment  Certificate,  the Closing Date Balance Sheet and the Operating  Cash
Flow  Statement  shall be  prepared  from the  Companies'  books and  records in
accordance  with and subject to the  accounting  principles set forth in Section
3.4(d).

                                       26

<PAGE>

          (ii) If the Buyer disagrees  with  the  Sellers'  calculation  of  the
adjustments to the Purchase  Price,  the Buyer shall  promptly,  but in no event
later  than  sixty  (60)  days  following  receipt  of the  Sellers'  Adjustment
Certificate,  deliver to the Sellers  written  notice (the  "OBJECTION  NOTICE")
describing in reasonable detail its dispute by specifying those items or amounts
as to which it  disagrees,  together  with its  determination  of such  disputed
amounts;  provided, that the Buyer shall be deemed to have agreed with all items
and amounts that are not disputed. If the dispute is not resolved by the parties
within  thirty  (30) days  following  the date of the  Sellers'  receipt  of the
Objection  Notice,  the parties  shall  engage an  independent  accounting  firm
reasonably   acceptable   to  the  Buyer  and  the  Sellers  (the   "INDEPENDENT
ACCOUNTANT"),  which shall resolve the dispute within thirty (30) days following
such engagement. The Independent Accountant shall act as an expert and not as an
arbitrator to determine, based solely on the written submissions of the Sellers,
on the one hand,  and the  Buyer,  on the  other  hand,  and not by  independent
investigation,  only the  specific  items  under  dispute  by the  parties.  The
Independent Accountant shall render a written report as to the resolution of the
dispute  and  the   resulting   computations.   The   Independent   Accountant's
determination of the disputed items or amounts shall,  absent manifest error, be
final  and  binding  on the  parties  and will be  applied  in  determining  the
adjustments  to the Purchase  Price set forth in Section  3.3. In resolving  any
disputed item, the  Independent  Accountant (i) shall be bound by the provisions
of this  Agreement  including,  without  limitation,  Section 3.4(b) and Section
3.4(d) and (ii) may not  assign a value to any item  greater  than the  greatest
value  for  such  item  claimed  by  either  party  in the  Sellers'  Adjustment
Certificate or the Objection  Notice,  as applicable,  or less than the smallest
value  for  such  item  claimed  by  either  party  in the  Sellers'  Adjustment
Certificate or the Objection Notice, as applicable.  The Buyer, on the one hand,
or the Sellers (from the Sellers Escrow Account),  on the other hand, shall make
appropriate  payment to the other of any  additional  amounts  determined  to be
payable by them in respect of the Purchase  Price within five (5) Business  Days
following  either the resolution of the dispute by the parties or the receipt of
the Independent Accountant's final determination,  as the case may be; PROVIDED,
that to the extent the amount reflected in the Sellers'  Adjustment  Certificate
is not in dispute such amount shall be paid before  resolution of the dispute by
the parties or receipt of the Independent Accountant's final determination.  All
fees and costs of the  Independent  Accountant  shall be borne by and  allocated
between the Sellers (from the Sellers Escrow Account),  on the one hand, and the
Buyer, on the other hand, on a PRO RATA basis based on the  differences  between
the Independent  Accountant's  determination  of the disputed amounts to the net
adjustments  to the Purchase  Price (as finally  determined  by the  Independent
Accountant  or the parties) and each of the Sellers' and the Buyer's  respective
determinations  of such  disputed  amounts.  If the  Buyer  does not  raise  any
objections to the Sellers'  Adjustment  Certificate within the periods described
herein, the Sellers'  Adjustment  Certificate will become final and binding upon
all parties.  Any payments  required to be made by the Sellers  pursuant to this
Section  3.4(b)(ii)  shall be limited to amounts  included  in, and made  solely
from,  the Sellers  Escrow  Account and any payments  required to be made by the
Buyer shall be made to the Sellers  Escrow  Account and shall be made first from
the escrow  established  pursuant to Section  3.4(a) but shall not be limited by
such amount.

          (c) During the  preparation of the Estimated  Adjustment  Certificate,
the Sellers'  Adjustment  Certificate,  the Closing  Date Balance  Sheet and the
Operating  Cash Flow  Statement and the period of review or dispute as set forth
in  Section  3.4(b)(ii)  above,  the  Sellers  (and the  Companies  prior to the
Closing),  on the one hand, and the Buyer, on the other hand,  shall (i) provide
each other and each other's authorized representatives with full access at all

                                       27

<PAGE>

reasonable  times,  and in a  manner  so as not to  interfere  with  the  normal
business  operations of the Sellers,  the Buyer or the Companies,  in each case,
respectively,  to all relevant  books,  records,  work papers,  information  and
employees and auditors of such Persons, and (ii) cooperate fully with each other
and each other's authorized representatives, in each of clauses (i) and (ii), as
necessary or useful for the preparation, calculation and review of the Estimated
Adjustment Certificate,  the Sellers' Adjustment  Certificate,  the Closing Date
Balance Sheet and the Operating Cash Flow Statement or for the resolution of any
dispute between the Sellers and the Buyer relating thereto.

          (d) Except as otherwise  expressly  provided  in  the  definitions  of
Closing Date Current Assets, Closing Date Current Liabilities and Operating Cash
Flow,  each accounting term used in this Section 3.4 shall have the meaning that
is applied  thereto in  accordance  with GAAP and each  account  included in the
Estimated  Adjustment  Certificate,  the Sellers'  Adjustment  Certificate,  the
Closing  Date  Balance  Sheet and the  Operating  Cash Flow  Statement  shall be
calculated  in  accordance  with  GAAP  (for  purposes  of both the  adjustments
contemplated by this Section 3.4 and determining satisfaction with the Operating
Cash Flow  closing  condition  in Section  9.6),  consistently  applied with and
subject to the Reference Accounting Principles; provided, that reference to GAAP
in the  definitions  of  defined  terms used in this  Section  3.4 also shall be
deemed  to mean  GAAP  consistently  applied  with and  subject  to  these  same
Reference Accounting  Principles.  The Reference Accounting Principles also have
been used in  preparing  the  illustrative  calculation  of Closing Date Working
Capital set forth on EXHIBIT H and the  illustrative  calculation  of  Operating
Cash Flow set forth on EXHIBIT J and no change in accounting principles shall be
made from those utilized in preparing such illustrative calculations, including,
with  respect  to the  nature  or  classification  of  accounts  (including  any
reclassification  of any assets,  contra  liabilities or liabilities  from short
term to long term),  closing  proceedings,  valuations of  inventory,  levels of
reserves  or  levels  of  accruals  or  Allocations  other  than as a result  of
objective  changes in the  underlying  business  that occur prior to the Closing
Date. For purposes of the preceding sentence, "changes in accounting principles"
means all changes in  accounting  principles,  policies and  methodologies  with
respect to the  determination  of the accounts set forth on EXHIBIT H or EXHIBIT
J, as applicable, their classification or their display.

            4. REPRESENTATION AND WARRANTIES REGARDING THE COMPANIES

            The Companies hereby,  jointly  and severally, represent and warrant
to the Buyer as follows, except as  set  forth in the Schedules attached hereto,
it being understood that any matter disclosed on any Schedule referred to herein
shall be deemed to have been disclosed on any other Schedule for which it is
readily apparent such disclosure applies.

     4.1   EXISTENCE; GOOD STANDING AND POWER; CAPITALIZATION.

          (a) (i) Except as set forth on SCHEDULE 4.1, the Cable  Venture  is  a
general partnership duly organized,  validly existing and in good standing under
the laws of the State of New York,  and the Cable  Venture is duly  qualified or
licensed to conduct business and is in good standing in every jurisdiction where
the nature of the business  conducted by it or the properties owned or leased by
it requires  qualification.  Subject to  applicable  bankruptcy  law,  the Cable

                                       28

<PAGE>

Venture has all of the requisite general partnership power and authority to own,
operate or lease its assets and  properties,  to own and operate  the  Levittown
System,  to own all of the  outstanding  capital  stock of Cable  Corp.,  and to
conduct  its  business as  currently  conducted,  and subject to the  Bankruptcy
Court's entry of the  Confirmation  Order, to execute,  deliver and perform this
Agreement and all Related Agreements to which it is a party.

               (ii) Except as set forth on SCHEDULE 5.2(d),  all  of  the  joint
venture  interests in the Cable Venture are owned  beneficially and of record by
the Sellers  free and clear of any Liens.  As of the Closing Date and subject to
the  occurrence of the  transactions  contemplated  to occur on the Closing Date
under this Agreement and the Plan, the Acquired Interests will constitute all of
the outstanding joint venture interests of the Cable Venture.

          (b) (i) Except  as  set  forth  on  SCHEDULE 4.1,  Cable  Corp.  is  a
corporation duly  incorporated,  validly existing and in good standing under the
laws of the State of Delaware.  Cable Corp.  has all of the requisite  corporate
power and authority to own,  operate or lease all of its assets and  properties,
to own and operate the San Juan System and to conduct its  business as currently
conducted,  and to execute,  deliver and perform this  Agreement and all Related
Agreements to which it is a party.  Cable Corp. is duly qualified or licensed to
conduct business and is in good standing in every  jurisdiction where the nature
of the business conducted by it or the properties owned or leased by it requires
qualification.

               (ii) The authorized capital stock of Cable Corp. consists of  one
thousand (1,000) shares of common stock, par value $0.01 per share, of which one
hundred (100) shares have been issued and are outstanding. All of the issued and
outstanding  shares of capital  stock of Cable Corp.  have been duly and validly
authorized and issued and are fully paid and nonassessable and the Cable Venture
owns beneficially and of record 100% of the issued and outstanding capital stock
of Cable Corp., free and clear of any Liens. No shares of capital stock of Cable
Corp. are held as treasury stock.  Except as set forth on SCHEDULE 4.1, there is
no outstanding or authorized option,  warrant, call, commitment,  stock purchase
plan or other contract or agreement to which Cable Corp. or the Cable Venture is
a party  requiring,  and  there are no  convertible  securities  of Cable  Corp.
outstanding or authorized  which upon  conversion  could require,  the issuance,
sale, transfer or other disposition of any additional shares of capital stock or
other  equity  interests of Cable Corp.  or other  securities  convertible  into
shares of capital  stock or other equity  interests of Cable Corp.  There are no
outstanding   or  authorized   stock   appreciation,   phantom   stock,   profit
participation or similar rights with respect to Cable Corp.  Except as set forth
on SCHEDULE  4.1,  none of the Sellers,  the Cable  Venture or Cable Corp.  is a
party to any voting trust, proxy or other voting agreement or understanding with
respect to any of the capital stock of Cable Corp. or to any agreement  relating
to the  issuance,  sale,  redemption,  repurchase,  retiring,  transfer or other
disposition or registration of the capital stock of Cable Corp.

          (c) Upon entry of the Confirmation Order and the consummation  of  the
acquisition  of the  Acquired  Interests  pursuant  to  Section  2.1  hereof and
pursuant  to the terms of the  Plan,  the  Buyer  shall  own 100% of the  equity
interests  of the Cable  Venture,  and the Cable  Venture  shall own 100% of the
equity  interests of Cable Corp.,  free and clear of all Liens (other than Liens
created by the Buyer) and no Person other than the Buyer shall have any right to
acquire  any  interest  (other  than  those  granted  by the Buyer) in the Cable
Venture or Cable Corp.

                                       29

<PAGE>

(whether  such right  shall  take the form of  options,  warrants,  commitments,
agreements,  preemptive  rights,  rights of first  refusal,  put or call rights,
purchase  rights or  obligations  or anti  dilution  rights with  respect to the
issuance,  sale or redemption of the joint venture  interests in Cable  Venture,
capital stock of Cable Corp. or  otherwise),  nor shall there be  outstanding or
authorized  any  securities  of the Cable  Venture  or Cable  Corp.  which  upon
conversion  or exchange  could  require the  issuance,  sale,  transfer or other
disposition  of any additional  equity  securities of the Cable Venture or Cable
Corp., as applicable.

     4.2   AUTHORIZATION, COMPANY REQUIRED CONSENTS.

          (a) This Agreement and the Related Agreements (i) constitute  (or,  in
the case of any Related  Agreements  to which it is a party,  when  executed and
delivered  will  constitute)  the legal,  valid and binding  obligation of Cable
Corp. and (ii) upon the Bankruptcy Court's entry of the Confirmation Order (and,
in the case of any Related  Agreements to which it is a party, when executed and
delivered) will constitute the legal,  valid and binding obligation of the Cable
Venture,  enforceable  against each Company in accordance with their  respective
terms. Provided that the Company Required Consents are obtained,  the execution,
delivery and  performance of this  Agreement and the Related  Agreements and the
consummation  of  the  Transactions  in  accordance  with,  and  subject  to the
conditions  precedent  in, this  Agreement  do not and will not: (i) violate any
Legal Requirement applicable to the Companies, their assets or properties or the
Systems;  (ii)  conflict  with,  violate  or  result  in a breach  of any of the
provisions of the JV Agreement or Cable Corp.'s  certificate of incorporation or
bylaws;  or (iii) conflict  with,  result in a breach of or constitute a default
(or an event  which,  with notice or lapse of time or both,  could  constitute a
default),  result  in the  acceleration  of,  create  in any  party the right to
accelerate,  terminate,  suspend, modify or cancel, give rise to the creation of
any Lien upon any of the assets or properties  of the Companies  (other than the
Transferred Assets) or require any notice under, any of the terms, conditions or
provisions under any Material Contract or Governmental Authorization.

          (b) SCHEDULE  4.2(b)  contains a true and complete list of any and all
Company Required Consents.

     4.3   FINANCIAL STATEMENTS; INDEBTEDNESS; BUDGET; ABSENCE OF CHANGES.

          (a) UNAUDITED FINANCIALS. The Companies have  made  available  to  the
Buyer true and complete  copies of (x) unaudited  consolidated  balance  sheets,
statements of operations  and statements of cash flows as of and for each of the
two fiscal  years ended  December 31, 2002 and 2003 (the  "UNAUDITED  HISTORICAL
FINANCIALS")  and (y) an unaudited  consolidated  balance sheet and statement of
operations  as of and  for  the 12  months  ended  December  31,  2004,  without
footnotes  (which are attached to this  Agreement as EXHIBIT G) (the  "UNAUDITED
2004 FINANCIALS" and,  together with the Unaudited  Historical  Financials,  the
"UNAUDITED  FINANCIALS").  No representation or warranty is made with respect to
the  Unaudited  Financials,  but that shall not limit the  Buyer's  right not to
close if the condition set forth in Section 9.6 is not satisfied.

          (b) AUDITED FINANCIALS.   The   audited  consolidated  balance  sheet,
statement of  operations  and  statement of cash flows as of and for each of the
three fiscal years ended  December 31, 2002,  2003 and 2004  (collectively,  the
"AUDITED FINANCIALS"), including the notes

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<PAGE>

thereto,  to be provided  to the Buyer prior to the Closing  pursuant to Section
7.17(b),  shall present  fairly the  financial  condition of the Companies as of
such dates and the results of  operations  and cash flows of the  Companies  for
such periods therein  referred to, in conformity with GAAP applied  consistently
throughout  the periods  covered  thereby  except as otherwise  permitted by the
definition of Reference Accounting Principles.

          (c) INTERIM FINANCIALS.  The  unaudited  consolidated  balance  sheet,
statement of operations  and statement of cash flows as of and for the quarterly
periods in 2005 for which interim financial  statements are required pursuant to
Section  7.17(b)  and, if  applicable,  Section  7.17(e)  and the  corresponding
periods for 2004, including the notes thereto, to be provided to the Buyer prior
to the Closing  pursuant to Section 7.17(b) and, if applicable,  Section 7.17(e)
(the "INTERIM FINANCIALS"),  shall present fairly the financial condition of the
Companies as of such dates and the results of  operations  and cash flows of the
Companies for such periods therein  referred to, in conformity with GAAP applied
consistently   throughout  the  periods  covered  thereby  except  as  otherwise
permitted by the definition of Reference Accounting Principles, and subject only
to  year-end  adjustments  (which will not be  material  individually  or in the
aggregate).

          (d) FUNDED DEBT. The Companies have no outstanding Funded Debt.

          (e) BUDGETS. The Companies have provided the  Buyer  with a  true  and
complete copy of the consolidated operating and capital budget for the Companies
for fiscal year 2005,  as prepared by  management  and  approved by the board of
managers of the Cable Venture (the "2005 BUDGET") and attached hereto as EXHIBIT
E. No  representation  or warranty is made with respect to the 2005 Budget other
than that the Companies have provided the Buyer with a true and complete copy of
the 2005 Budget as approved by the management board of the Cable Venture.

          (f) CERTAIN CHANGES. Since January 1, 2004, and  through the  date  of
this Agreement except as set forth in SCHEDULE 4.3(f)  (and  PROVIDED  that  no
representation or warranty is made with respect to the Transferred Assets or the
Excluded Liabilities), neither Company has:

               (i) issued, sold or otherwise disposed  of  any  of  its  capital
stock or equivalent equity interest, or granted any options, warrants, or  other
rights to purchase or obtain (including upon conversion, exchange, or  exercise)
any of its capital stock or equivalent equity interest;

               (ii)  made  any  sale,  purchase,   assignment,  lease,  license,
abandonment,  transfer  or other  disposition  of any  material  portion  of its
respective assets or properties,  including any Company  Intellectual  Property,
other than sales of Inventory in the ordinary course of business consistent with
past practice or as required by the Rebuild of the San Juan System, or taken any
action  that  would  reasonably  be  expected  to result  in the loss,  lapse or
abandonment  of any Company  Intellectual  Property  other than in the  ordinary
course of business  consistent with past practice (unless,  in either case, such
assets  were  unnecessary  or  obsolete  or  comparable  replacements  were made
therefor),  or permitted any of such assets or properties to be subjected to any
Lien of any kind other than Permitted Liens;

                                       31

<PAGE>

               (iii) made or  promised  any bonus or  material  increase  in the
salary or other  compensation  payable  or to  become  payable  to any  manager,
director,  officer,  employee or consultant of the Companies,  other than annual
salary increases and annual bonuses made in the ordinary course  consistent with
past practice or required by the terms of a Material Contract (and, if committed
to prior to the Closing Date (by contract or otherwise) and then payable but not
paid,  fully  accrued on the Closing Date Balance  Sheet and included as part of
the Closing Date Current Liabilities);

               (iv) accelerated the receipt or recognition of any item of income
or offered any discount for sales of advertising or services,  other than in the
ordinary course of business consistent with past practice;

               (v) written  down the value of any work in  progress,  or written
off as uncollectible  any notes or accounts  receivable,  except in the ordinary
course of business consistent with past practice;

               (vi) other than cash dividends,  distributions and payments to ML
Media or Century or their respective Affiliates, made any dividend, distribution
or other payment to any Seller or their respective Affiliates;

               (vii)  received  any  notice  of any new labor  union  organizing
activity,  any actual or threatened employee strikes, work stoppages,  slowdowns
or lockouts,  or any material  adverse  change in the aggregate in its relations
with its employees, agents, customers, suppliers or consultants;

               (viii)  entered  into,   amended  in  any  material   respect  or
terminated any employment agreement that (initially or as amended) is a Material
Contract or Collective Bargaining Agreement, whether written or oral, other than
in the ordinary course of business consistent with past practice;

               (ix) implemented any layoff of employees  that  could   implicate
the Worker Adjustment and Retraining Notification Act of  1988, as  amended,  or
any similar foreign, state, Commonwealth or local law, regulation  or  ordinance
(jointly, the "WARN ACT");

               (x) made or suffered any  change   in   or   amendment   to   its
organizational documents;

               (xi) cancelled, compromised, waived or  released   any   material
right or claim (or series of related rights and claims) other than by order   of
the Bankruptcy Court;

               (xii) entered into, terminated, modified,  amended,   renewed  or
made any other change in any Material Contract  (including,  without limitation,
any  contract  for the  purchase of goods,  equipment  or services of amounts in
excess of $100,000 or any contract for the merger or consolidation  with, or the
acquisition  of any  material  assets  of, any other  Person)  other than in the
ordinary course of business consistent with past practice;

                                       32

<PAGE>

               (xiii)  discharged  or satisfied  any  obligation or Liability or
made any settlement or compromise of any litigation,  other than in the ordinary
course of business  consistent  with past  practice,  by order of the Bankruptcy
Court or pursuant to the Plan;

               (xiv) incurred any indebtedness or issued, assumed or  guaranteed
any debt or other Liability of any third party other than indebtedness incurred,
or debt or  Liabilities  guaranteed,  in  an  amount  (individually  or  in  the
aggregate) less than $100,000;

               (xv) engaged in any transaction  that,  individually  or  in  the
aggregate,  has  caused or would reasonably be  expected  to  cause  a  Material
Adverse Effect;

               (xvi) since  January 1,  2005,  committed  to  make  any  capital
expenditure (or series of related capital expenditures),  other than any capital
expenditure  to be made in  connection  with the Rebuild of the San Juan System,
that will not be fully paid prior to the Closing Date and either  involves  more
than  $100,000 in any single case or $250,000 in the aggregate or is outside the
ordinary  course of business  unless such  commitment  is  reflected in the 2005
Budget;

               (xvii) adopted,  amended,  modified,  or  terminated  any  bonus,
profit sharing, incentive, severance, or other plan, contract, or commitment for
the benefit of any of its directors,  officers, and employees (or taken any such
action with respect to any other  Employee  Benefit Plan) except in the ordinary
course of business consistent with past practice; or

               (xviii) made a commitment, whether or not in writing, to  do  any
of the foregoing.

          (g) Neither of the Companies has any material Liability, except (i) as
disclosed,  reflected or reserved against on the face of the balance sheet as of
December  31,  2004  included in the Audited  2004  Financials  (or in any notes
thereto),  (ii)  Liabilities  under  Material  Contracts  and other  leases  and
agreements  entered into in the ordinary  course of business,  to the extent not
required by GAAP to be  reflected  or reserved  against on the face of a balance
sheet, (iii) Liabilities incurred after December 31, 2004 in the ordinary course
of business  (none of which results from,  arises out of,  relates to, is in the
nature of, or was caused by any breach of a Material  Contract  or  Governmental
Authorization,  tort,  infringement,  or violation of law or would reasonably be
expected to have a Material  Adverse  Effect),  (iv) Excluded  Liabilities,  (v)
Liabilities set forth on SCHEDULE 4.3(g), and (vi) other Liabilities, whether or
not  material,  not required by GAAP to be reflected or reserved  against on the
face of a balance sheet and that,  individually  or in the aggregate,  would not
reasonably be expected to have a Material Adverse Effect.

     4.4   CABLE VENTURE AND CABLE CORP. ASSETS.

          (a) The Companies have good, valid and marketable title to all of the
assets  and  properties  shown on the  balance  sheet as of  December  31,  2004
included in the Unaudited  2004  Financials or acquired after December 31, 2004,
free and clear of all Liens other than  Permitted  Liens,  except for properties
and assets  disposed of in the ordinary  course of business  since  December 31,
2004, which disposed assets are not, individually or in the aggregate,  material
to the Companies and except for the Transferred Assets.

                                       33

<PAGE>

          (b) Except as set forth on Schedule 4.4(b), such assets and properties
of the Companies  (including the additions and subtractions thereto contemplated
by the preceding  sentence)  constitute all of the assets,  properties,  rights,
interests  and  claims  used in or held  for use in the  business  as  presently
conducted by the  Companies  (other than the  Transferred  Assets and the assets
utilized to provide the services to be provided  under the  Transition  Services
Agreement)  and  (together  with the  Transferred  Assets and the services to be
provided under the  Transition  Services  Agreement)  would be sufficient and in
such  operating  condition in the aggregate as would allow the Buyer to continue
the  business of the  Companies  as  presently  conducted  and  operated  and in
compliance in all material  respects with all applicable Legal  Requirements and
Material   Contracts  from  and  immediately  after  the  Closing  Date  without
interruption  and in the  ordinary  course  of  business  consistent  with  past
practice.

     4.5   THE SYSTEMS.

          (a) SCHEDULE 4.5(a) sets forth a true and accurate  statement,  as  of
the  date(s)  set forth in said  Schedule,  of the  following  information  with
respect  to each  System:  (i)  the  megahertz  capacity  of  such  System,  the
approximate  miles of plant  operating at the applicable  megahertz  capacity of
such System and the approximate  number of aerial and underground miles of plant
served by such System;  (ii) the approximate  number of total basic subscribers,
including  EBUs,  subscribers  residing or located in multiple  dwelling  units,
Promotional  Subscribers,  subscribers  to Basic Cable  Service,  Expanded Basic
Cable Service, Digital Cable Service, Premium Service and Data Service served by
such  System and the  average  revenue per  subscriber  for  certain  subscriber
categories  as set forth in the Schedule,  each as of March 31, 2005;  and (iii)
the approximate number of dwelling units and commercial establishments passed by
such System.  Schedule 4.5(e) sets forth a true and accurate statement as of the
date(s)   set  forth  in  said   Schedule   of  certain   additional   operating
specifications  for the  Systems  (other than the portion of the San Juan System
being  rebuilt).  The Cable Venture has made available to the Buyer the true and
correct channel lineup for each System as of January 1, 2005.

          (b) (i) Except as set forth on  SCHEDULE 4.5(b),  the  Companies  have
operated  the Systems in  compliance  in all  material  respects  with:  (A) the
Communications Act of 1934, as amended (the "COMMUNICATIONS ACT"); (B) the Cable
Communications  Policy Act of 1984; (C) the Cable Television Consumer Protection
and Competition Act of 1992 (the "1992 ACT"); (D) the  Telecommunications Act of
1996; (E) the Copyright Act of 1976, as amended (the "COPYRIGHT  ACT");  (F) all
rules and  regulations of the FCC and the Copyright  Office;  (G) Act No. 213 of
September 12, 1996, as amended (the "PUERTO RICO  TELECOMMUNICATIONS  ACT"), and
Regulation  5761  of  February  28,  1998,  as  amended,  Regulation  for  Cable
Companies,   enacted  by  the  Puerto   Rico   Board   under  the  Puerto   Rico
Telecommunications Act; and (H) all other applicable Legal Requirements relating
to the  construction,  maintenance,  ownership  and  operation  of the  Systems;
PROVIDED,  HOWEVER,  that  notwithstanding  anything  to the  contrary  in  this
Agreement, no representation or warranty is made with respect to compliance with
Legal Requirements pertaining to utility poles,  including,  without limitation,
pole make ready and grounding and bonding of cable television  systems,  or with
respect to compliance with the Pole Attachment  Agreements except that as of the
date  hereof the  Companies  have  received  no  written  notice  asserting  any
non-compliance by the Companies with Legal Requirements or the terms of the Pole
Attachment Agreements. Without limiting the generality of the foregoing, each of
the  communities  served by the Systems has been  registered  with the FCC,  and
except as set

                                       34

<PAGE>

forth on SCHEDULE  4.5(b),  the  Systems  are  currently  in  compliance  in all
material  respects with the  technical  standards set forth in the FCC rules and
regulations,  including the applicable  signal leakage  requirements.  The Cable
Venture has made  available to the Buyer copies of the most recent FCC Forms 320
filed with the FCC (Basic Signal Leakage Performance Report) with respect to the
Systems.

               (ii) SCHEDULE 4.5(b) sets forth as of the date  hereof  the  rate
card,  describing the services available from the Systems, and the rates charged
by the Companies therefor,  including all rates,  tariffs, and other charges for
cable television or other services  provided by the Systems,  and the line up of
the stations and signals carried by the Systems and the channel position of each
such  signal and  station.  The rates  charged by the  Companies  for basic CATV
service  are not  currently  subject  to  regulation  by the FCC or by any other
Governmental   Authority  in  accordance  with  the  applicable  FCC  rules  and
regulations  as in effect as of the date hereof;  and none of the  Companies has
received any  correspondence  indicating that this may change in the future. The
Companies  have  not made  any  election  with  respect  to any cost of  service
proceeding  conducted in accordance  with Part 76.922 of Title 47 of the Code of
Federal  Regulations  or any similar  proceeding  with  respect to either of the
Systems.

               (iii) Except as disclosed on SCHEDULE 4.5(b), each System  is  in
compliance in all material  respects with the  provisions of the  Communications
Act as such provisions relate to the rates and other charges of the Systems, and
at any times that the rates  charged by the System were subject to regulation by
any  Governmental  Authority the Companies used reasonable good faith efforts to
establish   rates  charged  to  subscribers   that  were  allowable   under  the
Communications Act and any authoritative  interpretation  thereof then in effect
for each System to the extent such rates (on any tier) as of the date such rates
were implemented were subject to regulation by any Governmental Authority.

               (iv) Each  Company  holds  all  material  Licenses  necessary  in
connection  with the  operation of its  respective  System.  Each such  material
License is listed on SCHEDULE  4.5(b),  is in full force and effect and has been
validly issued or assigned to the Cable Venture or Cable Corp.,  as the case may
be. True and correct  copies of such Licenses set forth on SCHEDULE  4.5(b) have
been made available to the Buyer.  All licensed  facilities owned or operated by
the Companies are being operated in all material respects in accordance with the
terms and conditions of each such License, and none of the Companies, or, to the
Companies'  Knowledge,  any third party,  is in default in any material  respect
thereunder.  There is no legal action or governmental  proceeding pending or, to
the Companies' Knowledge,  any investigation or proceeding  threatened,  for the
purpose of modifying, revoking, terminating,  suspending, canceling or reforming
any of the  Licenses  set  forth  on  SCHEDULE  4.5(b)  or that  has or would be
reasonably  expected  to cause a  Material  Adverse  Effect or cause a  material
disruption  to the  operation of the Systems,  other than matters  affecting the
cable television industry generally.

               (v) All broadcast  television  signals carried on the Systems are
being carried in compliance in all material  respects with the  requirements  of
the Communications Act and the FCC regulations promulgated thereunder.  SCHEDULE
4.5(b) sets forth each must carry and  retransmission  consent election received
by the Companies with respect to the Systems that is currently in effect.

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<PAGE>

               (vi) The Companies have obtained all required FCC clearances  for
the operation of the Systems in  all  aeronautical  and  navigational  frequency
bands in which the Systems operate.

          (c) Except as set forth on SCHEDULE 4.5(c),  appropriate  registration
of each System has been made with the Copyright  Office,  and the Systems are in
compliance in all material respects with all notice,  filing,  payment and other
requirements  contained in Section 111 of the Copyright Act and the  regulations
of the Copyright Office. The copyright fees shown to be due on all Statements of
Account  (as  amended  by any  required  filings  and/or  any  other  corrective
supplements) filed with respect to the Systems for each of the six (6) reporting
periods prior to the date hereof for which the Companies  have filed  Statements
of Account  have been  calculated  in  accordance  with the  regulations  of the
Copyright Office promulgated  pursuant to the Copyright Act. Neither Company nor
any Seller  Person has received any notice from the  Copyright  Office  claiming
that it has any additional  obligation with respect to any previously  submitted
copyright  filings  relating to the Systems.  Complete and correct copies of all
current  reports and filings for the last two reporting  periods,  made or filed
pursuant to the  Copyright  Act and the rules and  regulations  of the Copyright
Office with respect to conduct of the business or the  operation of the Systems,
have been provided or made available to the Buyer.

          (d) The Systems are being operated  in  compliance,  in  all  material
respects, with the rules and regulations of  the FAA.  SCHEDULE 4.5(d) lists all
of the existing towers of the Systems and all leases of space on any such towers
to any third party.

     4.6   FRANCHISES.

          (a) SCHEDULE 4.6 sets forth: (i) each existing Franchise with respect
to the Systems; (ii) the Franchising  Authority with respect thereto;  (iii) the
expiration date thereof; (iv) the county, city, town or other general geographic
area covered by such Franchise;  (v) the franchise fee payable  thereunder;  and
(vi) whether any consent is required  thereunder to transfer  such  Franchise or
control thereof to the Buyer.

          (b) Except as set forth on SCHEDULE 4.6 or as  otherwise  disclosed in
writing to the Buyer:

               (i) each of the Franchises is (or,  in  the  case  of  the  Cable
Venture,  upon entry of the  Confirmation  Order,  will be) a valid and binding,
legally enforceable obligation of the Cable Venture or Cable Corp.,  enforceable
against the Cable Venture or Cable Corp., as the case may be, in accordance with
its respective terms;

               (ii) each   Company   is  operating its  respective   System   in
compliance  in all material  respects  with the  applicable  provisions  of each
applicable  Franchise  set  forth  on  SCHEDULE  4.6;  and,  to  the  Companies'
Knowledge,  neither  Company has done or  performed  any act that is  reasonably
likely to invalidate or impair in any material respect its rights under, or give
to the  applicable  Franchising  Authority  the right to  terminate,  suspend or
modify in any material respect, any of such Franchises;

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<PAGE>

               (iii) none of the Companies, the Sellers  nor  any  other  Seller
Person has received notice that any of the Companies' operations pursuant to any
Franchise are being improperly conducted or maintained in any material respect;
and

               (iv) each of the Franchises is  in  full  force  and  effect and,
subject to the consent of the  applicable  Franchising  Authority,  after giving
effect to the Transactions  shall be in full force and effect and, except as set
forth on SCHEDULE 4.6,  each Company is in  compliance in all material  respects
with all rules and regulations  promulgated by the FCC and the Puerto Rico Board
with respect to the procedures for seeking franchise renewals.

          (c) True and correct   copies   of   the   Franchises   set  forth  on
SCHEDULE 4.6 have been made available to the Buyer.  The Franchises set forth on
SCHEDULE 4.6  constitute  the entire  agreement of the Companies and the Sellers
with the  applicable  Governmental  Authority with respect to the subject matter
thereof.

          (d) No Person  upon  whose  property  is  located  any  portion of the
Systems has informed any of the  Companies or any Seller Person of any intent to
challenge the continued location, maintenance, installation or operation of such
portion of the  Systems  where such  challenge  (or all such  challenges  in the
aggregate,  if more  than  one)  reasonably  would be  expected  to  result in a
material Liability.

          (e) SCHEDULE 4.6(e) sets forth a list of all Franchise,  construction,
fidelity,  performance and other bonds,  guaranties in lieu of bonds and letters
of credit  posted by the  Companies  in  connection  with the  operation  of the
Systems as of the date hereof, which SCHEDULE 4.6(e) shall specify the remaining
term and amount of any such letters of credit and surety bonds.

     4.7 POLE ATTACHMENT  AGREEMENTS.  SCHEDULE 4.7 lists each of the contracts,
agreements, easements, servitudes,  rights-of-way, rights of access, ordinances,
resolutions,  licenses,  permits and other rights or interests  authorizing  the
Companies  to use (or to  construct,  install,  maintain,  repair,  replace  and
operate any cables and other  equipment,  fixtures and  improvements  associated
with the Systems on or in) (i) any poles, ducts, conduits or trenches or similar
equipment, fixtures or improvements located on real property of any Person other
than the Companies or (ii) any easements, servitudes,  rights-of-way,  rights of
access  and other  rights  and  interests  to, in or with  respect  to such real
property associated with (A) such poles, ducts, conduits,  trenches,  equipment,
fixtures or  improvements  or (B) any cables or other  equipment,  fixtures  and
improvements  associated  with the  Systems  otherwise  on,  over or under  real
property of any Person other than the Companies (each,  excluding any Franchise,
individually,  a "POLE ATTACHMENT  AGREEMENT").  Except as set forth on SCHEDULE
4.7,  each of the Pole  Attachment  Agreements  is (or, in the case of the Cable
Venture,  upon  entry of the  Confirmation  Order  will be) a valid and  binding
obligation of the Cable Venture or Cable Corp.,  as the case may be, and, to the
Companies' Knowledge, any other party to such Pole Attachment Agreement (except,
with respect to such other parties,  insofar as enforceability may be limited by
applicable bankruptcy,  insolvency,  reorganization,  moratorium or similar laws
affecting   creditors  rights   generally,   or  by  principles   governing  the
availability of equitable  remedies),  enforceable  against the Cable Venture or
Cable  Corp.,  as the case may be, and, to the  Companies'  Knowledge,  any such
other party in  accordance  with its  respective  terms.  Except as specified on
SCHEDULE 4.2(b), the

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<PAGE>

consummation of the transactions  contemplated in this Agreement and the Related
Agreements  does  not  require  the  consent  of any  other  party  to any  Pole
Attachment Agreement, will not result in a breach of, or default under, any Pole
Attachment Agreement,  or otherwise cause any Pole Attachment Agreement to cease
to be legal,  valid,  binding  and  enforceable  and in full force and effect on
identical  terms  following  the  Closing.  True and correct  copies of the Pole
Attachment  Agreements  have been made  available to the Buyer.  Notwithstanding
anything to the contrary in this Agreement,  no other representation or warranty
is made with respect to any of the Pole  Attachment  Agreements,  the Companies'
compliance with the terms of, or the Companies'  obligations  under,  any of the
Pole Attachment Agreements, or the Companies' compliance with Legal Requirements
relating to the Pole Attachment Agreements.

     4.8   REAL PROPERTY.

          (a) SCHEDULE 4.8(a) sets forth the address and/or location and the use
within the System of each parcel of Owned Real  Property.  The Cable  Venture or
Cable Corp.,  as the case may be, (i) has good,  marketable  and  insurable  fee
simple  title to each such  parcel of Owned  Real  Property  and all  buildings,
structures and other  improvements  thereon,  in each case free and clear of all
Liens other than Permitted Liens,  and (ii) has not leased or otherwise  granted
to any Person the right to use or occupy  such Owned Real  Property  (other than
Permitted Liens), and there are no outstanding options, rights of first offer or
rights of first refusal to purchase such Owned Real Property.

          (b) All leases,  subleases,  licenses and other agreements (written or
oral) under which either Company holds any Leased Real Property ("LEASES") as of
the date of this  Agreement (or the date  otherwise set forth in such  Schedule)
are set forth on SCHEDULE  4.8(b).  True and correct  copies of each such Lease,
including  all effective  amendments  thereto,  have been made  available to the
Buyer.  Each  Company is in  compliance  with the terms and  conditions  of such
Leases to which it is a party, except for any failure of compliance that has not
caused and would not reasonably be expected to cause a Material  Adverse Effect.
With respect to each of the Leases:  except as set forth on SCHEDULE 4.8(b), (i)
such  Lease  is (or,  in the  case  of the  Cable  Venture,  upon  entry  of the
Confirmation Order will be) legal, valid, binding, enforceable and in full force
and effect; (ii) after giving effect to the Confirmation Order, the Transactions
do not require the consent of any other party to such Lease,  will not result in
a breach of or default under such Lease,  or otherwise cause such Lease to cease
to be legal, valid, binding,  enforceable and in full force and effect following
the Closing; (iii) neither of the Companies and, to the Companies' Knowledge, no
other party to the Lease, is in breach or default in any material  respect under
such  Lease,  and  to  the  Companies'  Knowledge,  no  event  has  occurred  or
circumstance  exists which, with the delivery of notice,  the passage of time or
both,  would  constitute such a breach or default,  or permit the termination or
modification  of such Lease or  acceleration  of rent under such Lease;  (iv) no
security  deposit or portion  thereof  deposited  with respect to such Lease has
been  applied in respect of a breach or default  under such Lease  which has not
been  redeposited in full; (v) upon entry of the  Confirmation  Order neither of
the Companies  will owe any brokerage  commissions or finder's fees with respect
to such Lease;  (vi) the  Companies  have not  subleased,  licensed or otherwise
granted any Person the right to use or occupy  such Leased Real  Property or any
portion  thereof,  other than  Permitted  Liens ; (vii) the  Companies  have not
collaterally assigned or granted any other security interest

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<PAGE>

in such Lease or any interest therein; and (viii) upon entry of the Confirmation
Order there will be no Liens on the estate or interest created by such Lease,
other than Permitted Liens.

          (c) ALL REAL PROPERTY FOR SYSTEMS. The Companies have  the  valid  and
enforceable right to use, and to construct,  install,  maintain, repair, replace
and operate the Systems on, all real property on which the assets of the Systems
or any of the  Companies'  other assets are  located,  except for any failure to
hold any such right that has not caused and would not  reasonably be expected to
cause a Material Adverse Effect.

          (d) CONDEMNATION. There is no  condemnation,  expropriation  or  other
proceeding  in  eminent  domain   pending  or,  to  the  Companies'   Knowledge,
threatened, affecting all or any portion of any Real Property or any interest in
Real Property.

          (e) LEGAL COMPLIANCE.  The  Real  Property, and  the  current use  and
occupancy  of the Real  Property,  is in  material  compliance  with  all  Legal
Requirements.   The  classification  of  each  parcel  of  Real  Property  under
applicable  zoning and other land use laws,  ordinances and regulations  permits
the current use and occupancy of such parcel and permits the building,  fixtures
and other improvements located on such parcel as currently constructed, used and
occupied,  except for violations  that are not material,  individually or in the
aggregate.

          (f) COMPLIANCE  WITH LIENS. To the Companies' Knowledge, the  current
use and occupancy of the Real Property does not violate the terms or conditions
of any material Lien.  Neither  Company has received any notice of violation of
any material Lien.

     4.9   MATERIAL CONTRACTS.

          (a) SCHEDULE 4.9 sets forth as of the date hereof each Other  Material
Contract, excluding any Other Material Contract that is a Transferred Asset.

          (b) Except for the Other Material Contracts  listed  on  SCHEDULE 4.9,
neither of the Companies is a party to or is bound by any:

               (i) as of the date hereof, Programming Agreements;

               (ii) partnership or joint venture agreements;

               (iii)  contracts  with  another  Person  materially  limiting  or
restricting  the  ability  of the  Companies  to (A) enter into or engage in any
market or line of business or (B) disclose confidential information;

               (iv) contracts under which the Companies have created,  incurred,
assumed or guaranteed any  indebtedness  for borrowed  money, or any capitalized
lease obligation;

               (v) material  settlement,  conciliation  or similar  contracts or
agreements  other than  those  entered  into  subsequent  to the date  hereof in
compliance with Section 7.12;

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<PAGE>

               (vi) contracts or agreements  containing  provisions that provide
to any Person a first  refusal,  first  offer or similar  preferential  right to
purchase or acquire any  properties  or assets of, or equity  interests  in, the
Companies;

               (vii) powers of attorney or other similar agreements or grants of
agency;

               (viii)  agreement  for  the  employment  of any  individual  on a
full-time,  part-time,  consulting, or other basis providing annual compensation
in excess of $50,000 or providing severance benefits in excess of the Companies'
policies or practices for severance pay set forth on SCHEDULE  4.10,  other than
those  entered into  subsequent  to the date hereof in  compliance  with Section
7.12;

               (ix)  agreement  under which it has advanced or loaned any amount
to any of its directors,  officers, and employees outside the ordinary course of
business;

               (x) other contracts, agreements,  commitments,  understandings or
instruments  involving  the  purchase  or  sale of  goods  or  materials  or the
performance or receipt of services, in each case involving payments in excess of
$100,000 annually;

               (xi) any lease, sublease,  license or other agreement under which
the Companies hold any Leased Real Property  (other than the Leases set forth on
SCHEDULE 4.8(b)); or

               (xii) any  additional  Other  Material  Contract other than those
entered into subsequent to the date hereof in compliance with Section 7.12.

          (c) Each of the Other Material Contracts is (or, in the  case  of  the
Cable Venture, upon entry of the Confirmation Order will be) a valid and binding
obligation  of the Cable Venture or Cable Corp.,  enforceable  against the Cable
Venture  or Cable  Corp.,  as the case may be,  in  accordance  with its  terms.
Neither Company, nor to the Companies' Knowledge, any other party thereto, is in
breach or  default  in any  material  respect  under  any of the Other  Material
Contracts  to which it is a party nor in receipt of any written  claim of breach
or default under such Other Material Contracts. Neither of the Companies nor any
Seller  Person has  received  any written  notice from any parties to any of the
Other  Material  Contracts  of such  parties'  intent  to not  renew,  cancel or
terminate any of the Other Material  Contracts (except in the ordinary course of
business  with  respect  to  subscriber,  multiple  dwelling,  bulk  billing  or
commercial service agreements).  The Retained Programming  Agreements have been,
or prior to the Closing will be,  validly  assigned,  in  accordance  with their
terms, to the Cable Venture or to Cable Corp.

          (d) The Cable  Venture has made  available to the Buyer true,  correct
and  complete  copies of all of the  written  Material  Contracts  and a written
summary  setting forth the material  terms and  conditions of each oral Material
Contract.

     4.10  EMPLOYEES.

          (a) The Cable  Venture has made  available  to the Buyer a list of the
names and positions of all  employees of the Companies and their current  hourly
wages or monthly salaries as of January 1, 2005. To the Companies' Knowledge, no
employee, officer, partner or Affiliate

                                       40

<PAGE>

of the Cable Venture,  ML Media or Century has any material financial  interest,
direct or indirect, in any supplier or other outside business that is a party to
significant transactions with either of the Companies or the Systems.

          (b) All  relationships  between  the  Companies  and their  respective
contractors,  subcontractors,  personnel supplied by temporary staffing agencies
and similar  arrangements are independent  contractor  relationships  and do not
give rise to any  employer-employee  relationship  with respect to either of the
Companies nor do such relationships create a partnership, agency, joint venture,
joint  employer,  co-employer  or  employer-employee  relationship  between  the
parties.

          (c)  Except as set  forth on  SCHEDULE  4.10(c),  each  Company  is in
compliance in all material respects with all Legal Requirements  relating to the
employment  of labor,  including  without  limitation  those  relating to wages,
salary  withholding,  employee  health and safety,  statutory  bonus,  vacation,
working  hours,  collective  bargaining  and benefits for  employees  and former
employees,   unemployment   compensation,   disability  compensation,   worker's
compensation,  equal employment  opportunity and discrimination  (including age,
maternity,  marriage,  veteran status, disability and any other discrimination),
immigration  control,  terminations  and the payment and  withholding  of social
security and other Taxes or obligations.  To the Companies'  Knowledge,  neither
Company has any material Liability for any arrearages of wages,  commissions and
benefits for  employees,  Taxes or penalties or other sums for failure to comply
with  any of the  foregoing  that  are  not  reflected  in  the  Unaudited  2004
Financials.

          (d) Except as set forth on  SCHEDULE  4.10(d),  as of the date  hereof
there  is  no  material   employment-related   charge,   complaint,   grievance,
investigation,  inquiry or obligation of any kind, pending or, to the Companies'
Knowledge,  threatened in any forum,  relating to an alleged violation or breach
by either Company (or their  officers or directors) of any Legal  Requirement or
Material Contract relating to the employment of labor.

          (e)  Except as set forth on  SCHEDULE  4.10(e),  with  respect  to the
Companies:  (i) there is no collective bargaining agreement or relationship with
any labor organization (a "COLLECTIVE BARGAINING  AGREEMENT");  (ii) there is no
obligation to recognize or agreement to recognize any union or other  collective
bargaining unit;  (iii) since January 1, 2003 no labor  organization or group of
employees  has filed any  representation  petition  or made any  written or oral
demand for recognition; (iv) to the Companies' Knowledge, no union organizing or
decertification  efforts  are  underway  or  threatened;  (v)  no  strike,  work
stoppage, slowdown, material grievance,  collective bargaining dispute, claim of
unfair labor practice or other material labor dispute has occurred since January
1, 2003 and none is underway or, to the Companies' Knowledge,  threatened;  (vi)
there is no workman's  compensation  liability,  experience or matter that could
reasonably be expected to have a Material Adverse Effect;  and (vii) there is no
written  employment  agreement or arrangement  (including,  without  limitation,
so-called "golden parachute" or severance  agreements) that would require either
Company to continue the  employment of any Person after the Closing Date or that
limit the  Companies'  rights to terminate  such  Person,  except as provided in
Puerto  Rico  Act 80 of May  30,  1976,  as  amended,  and as set  forth  in its
personnel policies and manuals, subject to the liabilities provided in said Act.

                                       41

<PAGE>

          (f) The Sellers maintain one or more insurance  policies in full force
and effect with the Puerto Rico State  Insurance  Fund;  and the Companies  have
paid all premiums on said  policy,  and have no  outstanding  debts with respect
thereto.  Since  January 1, 2003,  except as disclosed on SCHEDULE  4.10(f),  no
work-related  accidents  have been  reported to the Puerto Rico State  Insurance
Fund nor, to the Companies'  knowledge,  has any work-related  accident occurred
for which  either  of the  Companies  is or may be  classified  as an  uninsured
employer.

          (g) SCHEDULE  4.10(g)  lists each  Employee  Benefit  Plan.  Except as
disclosed  on SCHEDULE  4.10(g),  each  Employee  Benefit  Plan  (including  any
Multiemployer  Plan) has been maintained,  funded and administered in compliance
in all material respects with its terms, the terms of any collective  bargaining
agreement or collective  labor  agreement,  and the  requirements of ERISA,  the
Code, and any other applicable Legal Requirements.  None of the Companies or any
ERISA Affiliate maintains,  contributes to, has any obligation to contribute to,
or has any actual or potential  Liability  with respect to any Employee  Pension
Benefit Plan (including  Multiemployer Plans) that is a defined benefit plan (as
defined  in  Section  3(35) of  ERISA)  and none of the  Companies  or any ERISA
Affiliate  has any  Liability  or potential  Liability  under Title IV of ERISA,
Section 302 of ERISA or Section 412 of the Code.  Neither  Company  maintains or
contributes  to, or is  required  to  contribute  to or has any  Liability  with
respect to, any Employee Welfare Benefit Plan or any other arrangement providing
medical,  health or life insurance or other welfare type benefits for current or
future  retired or  terminated  employees  other than under Section 4980B of the
Code or similar  statute.  The Companies have complied in all material  respects
with the  "continuation  coverage  requirements"  of "group health plans" as set
forth in Section 4980B of the Code, Part 6 of Subtitle B of Title I of ERISA and
any other legal  requirements  with respect to any Employee Welfare Benefit Plan
maintained   by   the   Companies.   All   contributions   (including   employer
contributions,  employee salary reduction  contributions,  and premium payments)
that are due have been made within the time periods  prescribed by ERISA and the
Code to each Employee Benefit Plan and all  contributions  for any period ending
on or before the Closing Date that are not yet due have been  properly  accrued.
There have been no prohibited  transactions  (as defined in Section 406 of ERISA
or Section 4975 of the Code) with respect to any such Employee Benefit Plan that
would  reasonably  be  expected  to result in a  material  tax or penalty to the
Companies. No fiduciary (as defined in Section 3(21) of ERISA) has any Liability
for  breach  of  fiduciary  duty,  or any other  failure  to act or  comply,  in
connection with the  administration  or investment of the assets of any Employee
Benefit Plan, and no action,  suit,  proceeding,  hearing or investigation  with
respect to any Employee Benefit Plan is pending or, to the Companies' Knowledge,
threatened.

          (h) No asset of either  Company is subject to any Lien under  ERISA or
the Code relating to an Employee Benefit Plan.

          (i) All required reports and descriptions  (including Form 5500 annual
reports,  Form 480.70 annual return,  summary annual  reports,  and summary plan
descriptions)  have been timely filed and  distributed  in  accordance  with the
applicable  requirements  of ERISA and the Code with  respect  to each  Employee
Benefit Plan.

          (j) Except as set forth on SCHEDULE  4.10(j),  each  Employee  Benefit
Plan that is intended to meet the  requirements  of a qualified  plan under Code
Section  401(a) or any  equivalent  provision  of the PR Tax Code has received a
determination from the Internal Revenue

                                       42

<PAGE>

Service  (the  "IRS") or the Puerto Rico  Department  of the  Treasury  that the
Employee Benefit Plan is so qualified.

          (k) The  Companies  have  delivered  or made  available  to the  Buyer
correct and complete  copies of all  available  plan  documents and summary plan
descriptions,  the most recent  determination  letter received from Governmental
Authorities, the most recent annual reports (Form 5500 and Form 480.70, with all
applicable attachments), and all related trust agreements,  insurance contracts,
and other funding arrangements that implement each Employee Benefit Plan.

          (l) With respect to this  transaction,  any notice  required under any
law or  collective  bargaining  agreement  has been  given,  and all  bargaining
obligations with any employee  representative have been, or prior to the Closing
will be, satisfied. Within the past three years, neither Company has implemented
any plant closing or layoff of employees that could  implicate the WARN Act, and
no such action will be implemented without advance notification to the Buyer.

          (m) Neither of the Companies is a member of any ERISA Group  involving
any entity other than the Companies,  and neither of the Companies has any ERISA
Affiliate.

     4.11 LITIGATION AND JUDGMENTS. Except for claims described in SCHEDULE 4.11
and claims asserted by subscribers or other users of the Systems in the ordinary
course  of  business,  there  is no  claim,  charge,  action,  suit,  complaint,
grievance,  arbitration or proceeding,  at law or in equity, or by, in or before
any court, tribunal, commission, agency or other Governmental Authority, pending
or, to the  Companies'  Knowledge,  threatened,  against  the  Companies,  their
respective  assets or  properties or the Systems or that could  prevent,  limit,
impair,  delay or otherwise  interfere with the Cable Venture's right or ability
to  consummate  the  Transactions,  except  as has not  resulted,  and would not
reasonably  be  expected  to result,  solely in a  monetary  award  against  the
Companies  of more than  $200,000  in any  individual  case,  or $750,000 in the
aggregate.  Other than any order in  Bankruptcy  Court,  the  Companies  are not
subject to any judgment,  order or decree entered in any lawsuit,  proceeding or
arbitration  that  materially  impairs the ability of the  Companies  to conduct
their business as presently conducted.

     4.12 TAX RETURNS AND PAYMENTS OF TAXES. Except as set forth on

           SCHEDULE 4.12:

          (a) Each Company has filed or caused to be filed all Tax Returns it is
or has been required to file on or prior to the date hereof by any  jurisdiction
to which it is or has been subject.  All such Tax Returns are true, complete and
correct in all  respects,  except that for those Tax Returns  that are listed on
SCHEDULE  4.12 as Returns  that will be  amended  before  the  Closing  Date (or
prepared as amended Tax Returns  prior to the Closing  Date and  provided to the
Buyer for review)  those Tax Returns  will be true,  complete and correct in all
respects when  amended.  There are no Tax audits  pending or, to the  Companies'
Knowledge,  threatened or any  outstanding  agreements or waivers  extending the
statutory  period of  limitations  applicable  to any Tax Return  filed by or on
behalf of either  Company for any period.  To the Companies'  Knowledge,  no Tax
deficiencies  have been  determined  and no proposed Tax  assessments  have been
charged  against either Company that have not been resolved.  The Companies have
delivered to the Buyer correct and complete  copies of Tax Returns filed and all
examination

                                       43

<PAGE>

reports and statements of deficiencies, if any, assessed against or agreed to by
any of the Companies with respect to taxable  periods of the Companies  ended on
or after  December 31, 2000.  For  purposes of this  Agreement  "TAX" or "TAXES"
shall mean: (i) any United States federal,  Commonwealth,  state or local or any
other non-United States, net or gross income, gross receipts, municipal license,
net  proceeds,   license,  payroll,   employment,   excise,  severance,   stamp,
occupation,  premium,  windfall  profits,  environmental  (including taxes under
Section  59A  of  the  Code),  customs,   capital  stock,  franchise,   profits,
withholding,  social  security  (or  similar),  unemployment,  disability,  real
property,  personal property, sales, use, transfer,  registration,  value added,
alternative or add-on minimum,  estimated or other taxes,  assessments,  duties,
fees,  levies  or  other  governmental  charges  of any kind  whatever,  whether
disputed or not, including any interest,  penalty or addition thereto;  (ii) any
Liability for or in respect of the payment of any amount of a type  described in
clause (i) of this  definition  as a result of being a member of an  affiliated,
combined,  consolidated,  unitary or other group for Tax purposes; and (iii) any
Liability  for or in respect of the payment of any amount  described  in clauses
(i) or (ii) of this  definition  as a transferee  or  successor,  by contract or
otherwise;  "TAX RETURN" shall mean any return,  declaration,  report, claim for
refund,  information  return  or  statement  relating  to Taxes,  including  any
schedule or attachment  thereto,  and including any amendment  thereof;  "TAXING
AUTHORITY"  shall  mean any  Governmental  Authority  having  or  purporting  to
exercise jurisdiction with respect to any Tax; and "TREASURY  REGULATIONS" shall
mean the  regulations  promulgated  or  proposed by the United  States  Treasury
Department  under the Code. A reference to the Code or Treasury  Regulation  for
purposes of this Section 4.12 shall be deemed to be a reference also made to any
equivalent provision of the PR Tax Code and the PR Treasury Regulations.

          (b) All Taxes owed by either of the  Companies (to the extent shown on
any Tax Return) have been timely paid.  None of the  Companies  currently is the
beneficiary  of any  extension of time within  which to file any Tax Return.  No
claim or  dispute  has ever been made by a Taxing  Authority  in a  jurisdiction
where  any of the  Companies  does  not file  Tax  Returns  that it is or may be
subject  to  taxation  by  that  jurisdiction.  There  is no  dispute  or  claim
concerning  any Tax liability of the  Companies  claimed or raised by any Taxing
Authority in writing or to the Companies' Knowledge claimed or raised other than
in writing. There are no Liens on any of the assets of any of the Companies that
arose in connection  with any failure (or alleged  failure) to pay any Tax. Each
of the Companies has withheld and paid all Taxes  required to have been withheld
and paid in  connection  with  amounts  paid or owing  to any  employee,  former
employee, partner,  independent contractor,  creditor,  stockholder,  Affiliate,
customer, supplier or other third party.

          (c)  None of the  Companies  is a party  to any  Tax  allocation,  Tax
sharing or other similar  agreement;  Tax indemnity  obligation or other similar
agreement;  or arrangement  with respect to Taxes (including any advance pricing
agreement,  closing  agreement,  gain  recognition  agreement or other  material
agreement relating to Taxes with any Taxing Authority).

          (d) None of the Companies has made any payments,  is obligated to make
any payments,  or is a party to any agreement  that under certain  circumstances
could obligate it to make any payments,  that will not be fully deductible under
Section 280G of the Code (or any similar provision of state, local or non-United
States law).  Cable Corp.  has never been a United States real property  holding
corporation  within  the  meaning of Section  897(c)(2)  of the Code  during the
applicable  period  specified in Section  897(c)(1)(A)(ii)  of the Code, and the
Cable

                                       44

<PAGE>

Venture  has never owned a U.S.  real  property  interest  within the meaning of
Section 897(c) of the Code. Except as disclosed in SCHEDULE 4.12(d),  no Company
owns an interest in an entity that is treated as a  partnership  or the separate
existence of which is disregarded for United States federal income tax purposes.
None of the Companies is a party to any  understanding or arrangement  described
in  Section  6111(d)  or  Section   6662(d)(2)(C)(iii)   of  the  Code,  or  has
"participated"  in a  "potentially  abusive tax  shelter"  within the meaning of
Treasury Regulation section 1.6011-4,  any of which was required to be disclosed
under this Treasury Regulation or any predecessor regulation.

          (e) The Companies have proper receipts, within the meaning of Treasury
Regulation  Section 1.905-2,  for any non-United  States Tax that has been or in
the  future may be claimed  as a foreign  tax credit for United  States  federal
income tax purposes.  The Companies,  in determining the depreciation  deduction
claimed in their Puerto Rico Tax Returns,  have used the straight line method of
depreciation  and have not used any method of accelerated  depreciation  allowed
under the PR Tax Code.  SCHEDULE  4.12(e)  provides a breakdown of the remaining
tax  basis of such  assets by  categories  based on their  respective  remaining
recovery  periods for Puerto Rico income tax  purposes as of December  31, 2004.
The Companies do not have any  "non-recaptured  net Section 1231 losses"  within
the  meaning  of  Section  1231(c)(2)  of the Code.  The  Companies  will not be
required: (i) as a result of a change in method of accounting that has been made
for any taxable  period or portion  thereof ending on or before the Closing Date
(a  "PRE-CLOSING  PERIOD"),  to include any adjustment  under Section 481 of the
Code or other  similar  adjustment  in income for any taxable  period or portion
thereof  beginning after the Closing Date (a "POST-CLOSING  PERIOD");  (ii) as a
result of any closing  agreement (or other  comparable  agreement) that has been
entered into under Section 7121 of the Code (or other comparable agreement),  to
include any item of income in, or to exclude  any item of  deduction  from,  any
Post-Closing  Period;  (iii)  as a  result  of any  sale  occurring  during  the
Pre-Closing  Period and reported on the installment  method, to include any item
of income in any Post-Closing  Period; or (iv) as a result of any prepaid amount
received  during the  Pre-Closing  Period  (other  than  amounts  prepaid in the
ordinary  course of  business  consistent  with past  custom and  practice),  to
include any item of income in, or exclude any item of  deduction  from,  taxable
income for any Post-Closing Period.

          (f) As of the end of the day preceding  the Closing  Date,  the unpaid
Taxes of the Companies for all Pre-Closing Periods,  being current Taxes not yet
due and  payable,  will not exceed the reserve for Tax  Liability in the Closing
Date Current Liabilities (rather than any reserve for deferred Taxes established
to reflect timing  differences  between book and Tax income) set out on the face
of the Estimated  Adjustment  Certificate  (rather than in any notes thereto) as
finally determined pursuant to Section 3.4(b).

          (g) The total  remaining  undepreciated  tax basis of all  depreciable
assets of the Companies for Puerto Rico tax purposes shall be least  $85,000,000
as of the Closing Date (including any additional basis created by the Completion
of the Rebuild of the San Juan System after the Closing Date).

     4.13 COMPLIANCE WITH LAWS.  Except (a) as set forth on SCHEDULE 4.13 or (b)
as otherwise  expressly  provided in Sections 4.5, 4.6, 4.8, 4.10 and 4.15, each
Company is and the Systems and the assets and  properties of the Companies  have
been operated and maintained in all

                                       45

<PAGE>

material  respects in compliance with all Legal  Requirements  applicable to the
Companies or their respective Systems or their assets or properties, and neither
Company nor any Seller Person has received,  or has any knowledge of the pending
issuance of, any notice of any violation with respect to either  Company,  their
assets  and  properties  or  the  Systems  of any  Legal  Requirement  from  any
Governmental  Authority or any other Person that reasonably would be expected to
result in a significant Liability.

     4.14 INSURANCE.  SCHEDULE 4.14 sets forth a true and correct summary of the
insurance  policies  covering any of the Companies' assets and properties or the
Systems,  including the  underwriter of such policies and the amount of coverage
thereunder. Neither Company has received any notice of cancellation with respect
to any of such coverage.  Since January 1, 2003, no application by the Companies
for insurance with respect to any of their  material  assets has been denied for
any reason.

     4.15 ENVIRONMENTAL  MATTERS.  Except as set forth in Section 7.15(a),  each
Company is, and has been since  January 1, 2003,  in  compliance in all material
respects with all applicable  Environmental  Laws.  Neither of the Companies nor
any Seller Person nor, to the Companies'  Knowledge,  any other Person for whose
conduct the Company is or may be held to be responsible  under  applicable Legal
Requirements has received any written notice that remains  unresolved of (1) any
claim,  administrative proceeding,  judgment,  declaration,  order, complaint or
investigation  relating  to any  violation  of  Environmental  Laws,  or (2) any
material  Liabilities  arising under Environmental Laws, relating to allegations
of injury or damages to Persons, property or natural resources from the presence
of environmental  contamination or the release or threat of release of Hazardous
Substances,  including any in connection  with, or arising from, the presence of
Hazardous  Substances  on, in,  under,  or from any of the real  property now or
previously  owned or leased by either Company or any structure  thereon.  To the
Companies'  Knowledge,   no  Hazardous  Substances  have  been  dumped,  buried,
discharged  or disposed of on, in, under or from any of the real property now or
previously  owned or  operated  by  either  Company  in  material  violation  of
applicable  Environmental  Law,  or in a manner  that will give rise to material
Liabilities under Environmental Law, and neither Company has exposed any Person,
property or natural resources to any Hazardous Substances,  in either case so as
to give rise to any current or future  material  Liabilities  of either  Company
under  Environmental  Laws.  The Cable  Venture has made  available to the Buyer
copies of any environmental assessments,  reports or surveys, or other documents
materially bearing on environmental Liabilities,  with respect to the Systems or
any of the past or current  assets of the Cable Venture or Cable Corp.  that are
in  the   possession  or  control  of  the  Companies  or  any  Seller   Person.
Notwithstanding  any other provision of this  Agreement,  this Section 4.15 sets
forth the Companies'  sole and exclusive  representations  and  warranties  with
respect to  Hazardous  Substances,  Environmental  Laws and other  environmental
matters.

     4.16  AFFILIATE  TRANSACTIONS.  Except  as set forth on  SCHEDULE  4.16 and
payments and  arrangements  pursuant to the JV Agreement  (all of which shall be
satisfied   pursuant   to   Section   7.19),   neither   Seller  nor  any  other
securityholders,  directors,  managers,  officers or employees of the Companies,
nor any of  their  respective  family  members  or  Affiliates  is  party to any
(written  or  oral)  contract  with,  or  is  involved  in  any  other  business
arrangement or relationship with, either of the Companies, or has, since January
1, 2004,  received any  distributions or payments of any kind from the Companies
or any of their respective Affiliates

                                       46

<PAGE>

(other than cash  distributions  or payments)  and neither  Seller nor any other
securityholders, directors, managers, officers or employees of the Companies nor
any of their respective family members or Affiliates owns any property or right,
tangible  or  intangible,  which is used in the  operation  of the  Systems  and
business conducted or proposed to be conducted by the Companies.

     4.17  INTELLECTUAL  PROPERTY.  Except to the extent related to the Retained
Marks:

          (a) SCHEDULE  4.17(a)  sets forth a complete and accurate  list of all
U.S.  and  foreign:  (i)  patents  and  patent   applications;   (ii)  trademark
registrations and trademark  applications,  material unregistered trademarks and
Internet domain names; (iii) copyright registrations and applications;  and (iv)
computer  software  (other than readily  available,  "off-the-shelf"  commercial
software  programs  having an acquisition  price of less than $25,000) which are
owned or licensed by either Company.

          (b) SCHEDULE  4.17(b)  sets forth a complete and accurate  list of all
material agreements (whether oral or written,  and whether between the Companies
and ML Media and/or Century or third parties) to which either Company is a party
or  otherwise  bound  (i)  granting  any  rights  to  third  parties  under  any
Intellectual  Property owned by either Company or (ii) obtaining any rights from
third parties under any  Intellectual  Property (other than licenses for readily
available,  "off-the-shelf"  commercial  software programs having an acquisition
price  of less  than  $25,000)  (collectively,  "IP  LICENSES").  Each of the IP
Licenses  is a  valid  and  binding  obligation  of the  Companies  and,  to the
Companies' Knowledge, the other parties thereto,  enforceable in accordance with
its terms and, to the Companies' Knowledge, no event has occurred which with the
giving  of notice  or lapse of time or both  would  reasonably  be  expected  to
constitute a material  breach or default by either of the  Companies  or, to the
Companies'  Knowledge,  by any other party, or otherwise give rise to a right of
termination under any such IP License.  Neither of the Companies nor the Sellers
has  received  any written  notice from any parties to any of the IP Licenses of
such parties'  intent to non-renew,  cancel or terminate any of the IP Licenses.
No royalties are payable by either of the Companies to any third parties for the
use of, or the right to use, any Intellectual Property except pursuant to the IP
Licenses and no indemnification  payments are owed by either of the Companies to
any   third   parties   as  a   result   of  any   interference,   infringement,
misappropriation  or other  conflict with respect to the  Intellectual  Property
owned or used by either of the Companies.

          (c) The Companies  own,  free and clear of all Liens,  or have a valid
right  to use  pursuant  to an IP  License,  all of  the  Intellectual  Property
necessary or used for the  operation of the Systems (the  "COMPANY  INTELLECTUAL
PROPERTY"),  PROVIDED  that  the  Company  Intellectual  Property  will  exclude
Intellectual  Property provided by Century or its Affiliates to perform services
pursuant to the JV Agreement.  The Company Intellectual Property,  together with
the  Intellectual  Property to be utilized by Century to provide services to the
Buyer  pursuant to the  Transition  Services  Agreement,  constitute  all of the
Intellectual Property necessary for the Companies' operation of the Systems.

          (d) To the Companies'  Knowledge,  the operation of the Systems by the
Companies does not infringe upon or misappropriate any Intellectual  Property of
any third  party.  There is no claim,  suit,  arbitration  or other  adversarial
proceeding before any court, tribunal,  commission, agency or other Governmental
Authority pending or, to the Companies'

                                       47

<PAGE>

Knowledge,  threatened,  against  either Company  contesting the validity,  use,
ownership or enforceability of any Company Intellectual  Property.  There are no
settlements,  covenants not to sue,  consents or judgments which restrict either
Company's right to use any Company Intellectual Property.

          (e) To the  Companies'  Knowledge,  except  as does not and  would not
reasonably be expected to constitute a Material  Adverse Effect,  no third party
is  infringing  or  misappropriating  any Company  Intellectual  Property and no
claims,  suits,  arbitrations  or other  adversarial  proceedings  alleging such
infringement  or  misappropriation  have been brought or threatened  against any
third party by either Company.

          (f) The consummation of the  Transactions  will not result in the loss
or  impairment  of the  right  of the  Companies  to  own  or  use  any  Company
Intellectual  Property.  Immediately  subsequent  to the  Closing,  the  Company
Intellectual  Property  will be owned by or  available  for use by the  Buyer on
terms and  conditions  substantially  similar to those under which the Companies
owned  or used  the  Company  Intellectual  Property  immediately  prior  to the
Closing.

          (g) The  Companies  have taken all  necessary  action to maintain  and
protect  all of the Company  Intellectual  Property  and will  continue to do so
prior  to  the  Closing  so  as  not  to   adversely   affect  the  validity  or
enforceability thereof.

          (h)  The  Companies  have  collected,  used,  imported,  exported  and
protected  all  personally  identifiable  information,   and  other  information
relating  to  individuals,  in  accordance  with  the  privacy  policies  of the
Companies and in accordance with any applicable Legal Requirements  including by
entering  into  agreements,  where  applicable,   governing  the  flow  of  such
information across national borders,  except where non-compliance,  individually
or in the  aggregate,  would not reasonably be expected to constitute a Material
Adverse Effect.

     4.18 BROKERS' FEES.  Except as set forth on SCHEDULE 4.18,  neither Company
has any Liability to pay any fees or commissions to any broker, finder, or agent
with respect to the Transactions.

          5.    REPRESENTATIONS OF ML MEDIA AND CENTURY

     5.1  REPRESENTATIONS  AND WARRANTIES OF ML MEDIA.  ML Media  represents and
warrants to the Buyer as follows (except as disclosed in the Schedules  attached
hereto):

          (a) ML Media is a limited  partnership  duly formed,  validly existing
and in good standing  under the laws of the State of Delaware and has all of the
requisite  partnership  power and authority to own,  operate or lease its assets
and properties, to conduct its business as currently conducted and to enter into
and perform the terms to be  performed by it of this  Agreement  and each of the
Related Agreements to which it is a party.

          (b) ML Media has taken all partnership  action  necessary to authorize
and approve its  execution,  delivery and  performance  of this  Agreement,  the
Related  Agreements  and the  Transactions.  Subject  to the due  execution  and
delivery by the other parties, this Agreement

                                       48

<PAGE>

will constitute the legal,  valid and binding  obligation to the extent provided
herein of ML Media, enforceable against ML Media in accordance with its terms.

          (c) ML  Media's  execution  and  delivery  of this  Agreement  and its
performance of the terms of this Agreement and each of the Related Agreements to
which  ML  Media  is a party to be  performed  by it do not and  will  not:  (i)
conflict  with or violate any Legal  Requirement  applicable  to ML Media;  (ii)
conflict  with,  violate  or result in a breach of any of the  provisions  of ML
Media's Limited Partnership Agreement; or (iii) require notice or consent under,
conflict with,  result in a breach of or constitute a default under any material
agreement or instrument to which ML Media is a party or by which it is bound.

          (d) ML Media owns of record and  beneficially 50% of the joint venture
interests in the Cable Venture free and clear of any Liens.

          (e) There is no litigation at law or in equity or any claim,  dispute,
action, suit, complaint, arbitration or proceeding before any court, commission,
agency or other Governmental  Authority or tribunal pending or, to the knowledge
of ML Media,  threatened  against ML Media that could  prevent,  limit,  impair,
delay or otherwise interfere with the right or ability of ML Media to consummate
the Transactions.

          (f) Except as set forth on SCHEDULE 5.1(f),  ML Media has no Liability
to pay any fees or commissions to any broker,  finder,  or agent with respect to
the Transactions.

     5.2  REPRESENTATIONS  AND  WARRANTIES OF CENTURY.  Century  represents  and
warrants to the Buyer as follows (except as disclosed in the Schedules  attached
hereto):

          (a) Century is a corporation duly formed, validly existing and in good
standing under the laws of the State of Texas and subject to the approval of the
Bankruptcy Court has all of the requisite  corporate power and authority to own,
operate or lease its assets and properties, to conduct its business as currently
conducted  and to enter into and perform the terms to be performed by it of this
Agreement and each of the Related Agreements to which it is a party.

          (b) Subject to receipt of the  Confirmation  Order and approval of the
court covering Century's Chapter 11 case, Century has taken all corporate action
necessary to authorize and approve its  execution,  delivery and  performance of
this Agreement, the Related Agreements and the Transactions.  Subject to the due
execution  and  delivery by the other  parties  hereto and upon  approval by the
Bankruptcy  Court,  this Agreement will constitute the legal,  valid and binding
obligation to the extent provided herein of Century, enforceable against Century
in accordance with its terms.

          (c)  Except as set forth on  SCHEDULE  5.2(C),  upon  approval  by the
Bankruptcy  Court,  Century's  execution and delivery of this  Agreement and its
performance of the terms of this Agreement and each of the Related Agreements to
which Century is a party to be performed by it do not and will not: (i) conflict
with or violate any Legal Requirement applicable to Century; (ii) conflict with,
violate or result in a breach of any of the provisions of Century's  certificate
of incorporation or by-laws; or (iii) require notice or consent under,  conflict
with,

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<PAGE>

result in a breach of or  constitute a default  under any material  agreement or
instrument to which Century is a party or by which it is bound.

          (d) Century owns of record and  beneficially  50% of the joint venture
interests in the Cable Venture free and clear of any Liens,  except as set forth
on SCHEDULE 5.2(d).

          (e) Except as set forth on SCHEDULE 5.2(e),  there is no litigation at
law or in  equity  or any  proceeding  before  any  court,  commission  or other
Governmental  Authority  or tribunal  pending or, to the  knowledge  of Century,
threatened against Century that would reasonably be expected to prevent,  limit,
impair,  delay or  otherwise  interfere  with the right or ability of Century to
consummate the Transactions.

          (f) Except as set forth on SCHEDULE  5.2(f),  Century has no Liability
to pay any fees or commissions to any broker,  finder,  or agent with respect to
the Transactions.

          6. REPRESENTATIONS AND WARRANTIES OF BUYER

          The Buyer hereby represents and warrants to ML Media,  Century and the
Cable Venture as follows:

     6.1  EXISTENCE.  The  Buyer is a limited  liability  company  duly  formed,
validly  existing and in good  standing  under the laws of the  Commonwealth  of
Puerto Rico and has all of the requisite  organizational  power and authority to
own,  operate or lease its assets and  properties,  to conduct  its  business as
currently  conducted  and to enter into and perform the terms to be performed by
it of this Agreement and each of the Related  Agreements to which it is a party.
The sole member of the Buyer is a Puerto Rico  limited  liability  company,  the
sole  member of that entity is a Delaware  limited  liability  company  that has
elected to be taxed as a  corporation  for Federal  income tax  purposes and the
sole member of that entity is a Delaware limited  liability  company to be owned
by the Investors as of the Closing.

     6.2 AUTHORIZATION; NO CONFLICTS.

          (a) The  Buyer  has  taken  all  organizational  action  necessary  to
authorize and approve its execution, delivery and performance of this Agreement,
the Related  Agreements,  and the  Transactions to which it is a party, and this
Agreement constitutes the legal, valid and binding obligation of the Buyer.

          (b) The Buyer's execution,  delivery and performance of this Agreement
and each of the Related  Agreements  to which it is a party do not and will not:
(i) conflict with or violate any Legal Requirement applicable to the Buyer; (ii)
conflict  with,  violate or result in a breach of any of the  provisions  of the
organizational documents of the Buyer or any member of the Buyer Group; or (iii)
require  notice  or  consent  under,  conflict  with,  result  in a breach of or
constitute a default  under any material  agreement or  instrument  to which the
Buyer is a party or by which it is bound.

     6.3  LITIGATION.  There is no  litigation at law or in equity or any claim,
dispute,  action, suit,  complaint,  arbitration or proceeding before any court,
commission,  agency or other  Governmental  Authority or tribunal pending or, to
the knowledge of the Buyer, threatened

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<PAGE>

against  the  Buyer  that  could  prevent,  limit,  impair,  delay or  otherwise
interfere with the right or ability of the Buyer to consummate the Transactions.

     6.4  FINANCING.  The Buyer has  delivered  to the Sellers true and complete
copies of a commitment  letter from JPMorgan Chase Bank, N.A. and others to lend
to the Buyer an aggregate  amount up to  $350,000,000  on the terms set forth in
the commitment  letter (the "Debt Commitment  Letter"),  and commitment  letters
from the  Investors  and the sole  member of the Buyer to  provide  equity in an
amount which, together with the debt financing commitments, is sufficient to pay
the aggregate  Purchase  Price set forth in this Agreement and to satisfy all of
the Buyer's other  obligations  in connection  with the purchase of the Acquired
Interests and the other Transactions (such commitment letters collectively,  the
"COMMITMENT  LETTERS").  The  Buyer  has  no  reason  to  believe  that,  if the
conditions  to the Buyer's  obligation to consummate  the  Transactions  are met
(other than the  financing  condition in Section  9.9),  financing in the amount
required to  consummate  the  purchase of the Acquired  Interests  and the other
Transactions  will not be  available  to the Buyer,  pursuant to the  Commitment
Letters or otherwise,  on terms no less favorable to the Buyer than as set forth
in the Commitment Letters.

          7.    ADDITIONAL COVENANTS

     7.1 CONFIDENTIALITY.

          (a) BUYER' CONFIDENTIALITY OBLIGATIONS.

               (i)  Subject  to  Section  7.1(a)(ii),  from and  after  the date
hereof,  except with the Cable  Venture's prior written consent or, with respect
to the  Seller  Group  Confidential  Information,  the  Sellers'  prior  written
consent,  the Buyer  shall,  and shall  cause the members of the Buyer Group to,
maintain the confidentiality of the Seller Confidential Information,  except (A)
to  other  members  of the  Buyer  Group  for the  purposes  of  evaluating  the
Transactions,  (B) to the extent required by applicable law, (C) as necessary in
connection  with  filings,  approvals  and  rulings  to  be  obtained  from  any
governmental  agency or authority,  including,  but not limited to, the FTC, the
DOJ, the SEC, the Puerto Rico Board,  the IRS and the Bankruptcy Court (it being
understood  that  any such  filing  may  include  the  filing  of a copy of this
Agreement), (D) to the Buyer's equity and financing sources and their respective
directors,  officers, employees or representatives who are informed by the Buyer
of the  confidential  nature of the Seller  Confidential  Information and have a
confidentiality  obligation to the Buyer, (E) as necessary to obtain consents to
the  transfer  of any  Franchise  or  License or any other  Required  Consent or
otherwise  necessary  for  the  consummation  of  the  Transactions,   (F)  upon
reasonable  advance  notice  to  Century,  to any  official  committee  and  its
professionals  appointed in the bankruptcy case of Century or its Affiliates and
(G) as otherwise permitted by the remainder of this Section 7.1(a). In the event
any member of the Buyer Group,  or any other Person to whom the Buyer  transmits
Seller  Confidential  Information  pursuant to this  Agreement,  becomes legally
compelled  to disclose  any of the Seller  Confidential  Information,  the Buyer
shall promptly notify the Cable Venture or, as applicable, the applicable Seller
thereof so that the Sellers or the Cable Venture may seek a protective  order or
other appropriate remedy or waive compliance with the provisions of this Section
7.1(a),  or both. In the event that such protective order or other remedy is not
obtained,  or that the Cable Venture or the applicable  Seller waives compliance
with the provisions of this Section 7.1(a),  the Buyer shall, or shall cause the
applicable member of the

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<PAGE>

Buyer Group to, furnish only that portion of the Seller Confidential Information
that is legally required.

               (ii)  Notwithstanding   anything  herein  to  the  contrary,  the
obligations of the Buyer under Section  7.1(a)(i) shall terminate,  with respect
to the  Company  Confidential  Information  only,  upon  the  Closing.  For  the
avoidance of doubt,  the  obligations of the Buyer under Section  7.1(a)(i) with
respect to the Seller Group  Confidential  Information shall survive the Closing
and/or the termination of this Agreement.

          (b) SELLERS' CONFIDENTIALITY OBLIGATIONS.

               (i)  Subject  to  Section  7.1(b)(ii),  from and  after  the date
hereof, except with the Buyer's prior written consent, the Companies and each of
the  Sellers,  as  applicable,  shall,  and each of the Sellers  shall cause the
members  of  the  Seller  Group  that  are  its  Affiliates  to,   maintain  the
confidentiality of the Buyer Confidential Information,  except (A) to the extent
required by  applicable  law,  (B) as  necessary  in  connection  with  filings,
approvals and rulings to be obtained from any governmental  agency or authority,
including, but not limited to, the FTC, the DOJ, the SEC, the Puerto Rico Board,
the IRS and the Bankruptcy  Court (it being  understood that any such filing may
include  the filing of a copy of this  Agreement),  (C) as  necessary  to obtain
consents  to the  transfer  of any  Franchise  or License or any other  Required
Consent or otherwise necessary for the consummation of the Transactions,  (D) to
any official committee and its professionals appointed in the bankruptcy case of
Century  or  its  Affiliates,  (E)  with  respect  to the  Company  Confidential
Information  only,  as  otherwise  permitted by Section  7.11(c)(ii)  and (F) as
otherwise permitted by the remainder of this Section 7.1(b)(i). In the event any
member of the Seller  Group,  or any other  Person to whom the Sellers  transmit
Buyer  Confidential  Information  pursuant to this  Agreement,  becomes  legally
compelled to disclose any of the Buyer Confidential Information,  the applicable
Seller  shall  promptly  notify  the Buyer  thereof so that the Buyer may seek a
protective  order or other  appropriate  remedy  or  waive  compliance  with the
provisions of this Section 7.1(b)(i), or both. In the event that such protective
order or other remedy is not obtained,  or that the Buyer waives compliance with
the provisions of this Section 7.1(b)(i),  the applicable Seller shall, or shall
cause the  applicable  member of the  Seller  Group  that is its  Affiliate  to,
furnish only that portion of the Buyer Confidential  Information that is legally
required.

               (ii)  Notwithstanding   anything  herein  to  the  contrary,  the
obligations of the Companies and the Sellers under Section  7.1(b)(i) shall only
commence with respect to the Company Confidential  Information upon the Closing.
For the  avoidance of doubt,  the  obligations  of the Companies and the Sellers
under Section 7.1(b)(i) with respect to the Buyer Group Confidential Information
shall survive the Closing and/or the termination of this Agreement.

     7.2  NOTIFICATION.  The Companies or the Sellers,  on the one hand, and the
Buyer, on the other hand,  shall promptly notify the other of any action,  suit,
proceeding or investigation  that is instituted or threatened against such party
or any of its  Affiliates  to  restrain,  prohibit or  otherwise  challenge  the
legality or propriety of the Transactions.  The Companies or the Sellers, on the
one hand, and the Buyer, on the other hand, shall notify the other of any facts,
events,  actions or circumstances  as to which it obtains  knowledge that causes
any of its (or, in the case

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<PAGE>

of the  Sellers,  the Cable  Venture's  or Cable  Corp.'s)  representations  and
warranties  made in this Agreement,  or any matters  required to be set forth in
the Schedules hereto,  not to be correct and complete in any material respect as
of the date hereof or as of any other date on or prior to the Closing Date.  The
communication of any such information  shall not limit or qualify in any way any
representations or warranties made by the disclosing party or any obligations or
liabilities  for breach  thereof.  Any  failure to provide  timely  notification
pursuant to the second  sentence of this Section 7.2 shall,  for all purposes of
this Agreement,  be deemed to be a breach of a  representation  and warranty and
not a failure to perform a covenant hereunder.

     7.3 HSR ACT  COMPLIANCE.  Not later than 30 days following the date hereof,
the Buyer and the Companies shall file or cause to be filed with the FTC and DOJ
such  Notification and Report Forms relating to the Transactions as are required
by the pre-merger  notification  rules promulgated under the HSR Act. The Buyer,
on the one hand,  and the Companies and the Sellers,  on the other hand,  shall,
and shall cause their respective Affiliates to: (i) cooperate in the preparation
and  filling  of such  Notification  and Report  Forms to the extent  reasonably
necessary;  (ii)  promptly  supply each other with any  information  provided in
response  to any  requests  for  additional  information  made by either of such
agencies; and (iii) use all reasonable efforts to cause the waiting period under
the HSR Act to terminate or expire at the earliest  possible date. The Buyer and
the Companies  shall each bear 50% of any filing fees in connection with the HSR
Act.

     7.4   REQUIRED CONSENTS.

          (a) The  Companies  and the  Sellers  shall,  and  shall  cause  their
respective  Affiliates to, use commercially  reasonable efforts to expeditiously
obtain all Company Required  Consents and any other consents to the Transactions
required under any other  agreement to which either of the Companies is a party.
The Buyer,  on the one hand,  and the  Companies  and the Sellers,  on the other
hand,  shall prepare and deliver to one another all  information  regarding such
Persons and their  respective  Affiliates that is required to be provided in any
such  form or  application  in  sufficient  time to  enable  the  party  charged
hereunder  with  filing  such  forms or  applications  to file  such  forms  and
applications  within the time period set forth herein or by any other applicable
deadline.  Except as set forth in this Section 7.4, nothing herein shall require
the  expenditure  or payment of any funds  (other  than in respect of normal and
usual attorneys'  fees,  filing fees or other normal costs of doing business) or
the  giving of any other  consideration  by the  Companies  in  connection  with
obtaining any of the Company  Required  Consents;  PROVIDED,  that the Companies
shall,  except as otherwise set forth herein,  be liable for and timely  perform
and satisfy all obligations or liabilities under each Governmental Authorization
or Material  Contract of the  Companies  during the period  prior to the Closing
Date.

          (b) As promptly as  practicable  after the date  hereof,  the Sellers,
with the Buyer's  cooperation  and consent  (not to be  unreasonably  withheld),
shall  prepare and file,  or cause to be prepared  and filed,  all  applications
(including FCC Forms 394 or other  appropriate  forms) required to be filed with
the FCC, the Puerto Rico Board and/or any other Governmental  Authority that are
necessary in connection  with the  consummation of the  Transactions.  The Cable
Venture shall apply to the Puerto Rico Board for (x) an extension of each of the
Franchises  for a term of ten (10) years  commencing on the Closing  Date,  such
that the  Franchises  as acquired by the Buyer shall have a full  ten-year  term
(collectively, the "FRANCHISE EXTENSIONS")

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<PAGE>

and (y) if necessary, an extension of the current deadline for the Completion of
the Rebuild of the San Juan System (June 30, 2005) to a date mutually  agreed by
the Sellers and the Buyer (the "REBUILD EXTENSION DATE").

          (c) The Buyer,  each of the Sellers and the Companies  shall  promptly
furnish to any Person from whom a Company  Required  Consent is  requested  such
accurate and complete  information  regarding,  as applicable,  the Buyer,  such
Seller, the Companies and their respective Affiliates, including (on the part of
the Buyer)  financial  information  relating  to any other cable and other media
operations  of the Buyer  and its  Affiliates,  as such  Person  may  reasonably
require in connection with obtaining any Company Required Consent.

          (d) In connection with the efforts  referenced in Sections 7.3, 7.4(a)
and  7.4(c)  to  obtain  all  requisite  approvals  and  authorizations  for the
Transactions  under  the  HSR  Act or any  other  Regulatory  Law,  each  of the
Companies,  each of the  Sellers  and the  Buyer,  shall,  and  shall  cause its
respective  Affiliates  to:  (i)  use its  commercially  reasonable  efforts  to
cooperate  in all  respects  with each  other in  connection  with any filing or
submission and in connection with any investigation or other inquiry,  including
any  proceeding  initiated by a private  party;  (ii) promptly  inform the other
parties of any communication received by such party from, or given by such party
to, the FCC, the Puerto Rico Board,  the DOJ, the FTC or any other  Governmental
Authority and of any material communication received or given in connection with
any  proceeding  by  a  private  party,  in  each  case  regarding  any  of  the
Transactions;  and (iii)  consult  with each other in advance of any  meeting or
conference  with the FCC,  the Puerto Rico Board,  the DOJ,  the FTC or any such
other Governmental  Authority or, in connection with any proceeding by a private
party, with any other Person, and to the extent permitted by the FCC, the Puerto
Rico Board,  the DOJ, the FTC or such other applicable  Governmental  Authority,
give the other party the  opportunity to attend and participate in such meetings
and conferences,  except where a party reasonably  determines in good faith that
it is best for the other party not to attend. Each party shall have the right to
review and approve in advance  drafts of all petitions,  applications  and other
filings made or prepared by the other party in  connection  with  obtaining  the
requisite  approvals  and  authorizations  from  the  appropriate   Governmental
Authorities  for the  Transactions,  which  approval  shall not be  unreasonably
withheld or delayed.  In  furtherance of and not in limitation of the foregoing,
the parties agree to file all necessary  applications for Material Consents with
the FCC or the Puerto Rico Board jointly.

          (e) In  furtherance  and not in  limitation  of the  covenants  of the
parties contained in Section 7.3 and this Section 7.4, if any  administrative or
judicial  action or proceeding,  including any proceeding by a private party, is
instituted  (or  threatened  to  be  instituted)   challenging  any  transaction
contemplated  by this Agreement as violative of any Regulatory  Law, each of the
Companies,  each of the Sellers and the Buyer shall  cooperate  in all  respects
with each  other and use their  respective  commercially  reasonable  efforts to
contest and resist any such action or proceeding  and to have  vacated,  lifted,
reversed or overturned any decree, judgment,  injunction or other order, whether
temporary,  preliminary  or  permanent,  that is in effect  and that  prohibits,
prevents or restricts consummation of the Transactions.

          (f) (i) Except as the parties may otherwise agree in writing,  neither
the Cable Venture nor Cable Corp. shall agree, without the Buyer's prior written
consent,  (1) to any adverse  change to the material  terms of any  Governmental
Authorization or (2) to the imposition

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<PAGE>

of  any  adverse   condition  to  the   assignment  of  any  such   Governmental
Authorization to the Buyer as a condition to obtaining any Required Consent with
respect to any such  Governmental  Authorization,  and, in each case,  the Buyer
shall not be required to accept any such amendment or condition.

               (ii) Notwithstanding  anything in Section 7.4(f) to the contrary,
except as the parties may otherwise agree in writing,  solely in connection with
the requests for Franchise  Extensions  described in Section  7.4(b),  the Buyer
shall  accept,  and  agree  that  the  Companies  may  accept,  changes  to such
Franchise(s) required by the applicable Governmental  Authorities as a condition
of granting the Franchise Extensions that do not increase the obligations of the
Buyer in any material respect, or reduce the rights of the Buyer in any material
respect, under the applicable Franchise(s) to which they relate.

     7.5   TAX MATTERS.

          (a) (i) The Sellers  shall prepare or cause to be prepared and file or
cause to be filed all Tax Returns for the Companies for all periods ending on or
prior to the Closing  Date that are filed after the  Closing  Date.  The Sellers
shall also  prepare all amended Tax Returns  which are  intended to be filed for
periods  ending  prior to the  Closing  Date  ("AMENDED  TAX  RETURNS  FOR PRIOR
PERIODS")  and shall  present  such draft  amended  tax  returns  along with all
supporting  work papers to the Buyer no later than seven (7) calendar days prior
to the Closing Date.  In addition,  the Sellers shall permit the Buyer to review
and comment,  at least seven (7) calendar days prior to its filing,  on each Tax
Return to be filed  between  the date of  execution  of this  Agreement  and the
Closing Date ("2004 TAX RETURNS").  The Sellers shall permit the Buyer to review
and  comment on each and every Tax  Return  described  above in every  preceding
sentence of this Section  7.5(a) prior to the filing of such Tax Return.  If the
Buyer and the Sellers are unable to agree on whether a Tax Return  described  in
this Section 7.5(a)  complies with the second sentence of Section 4.12(a) or the
requirements  of Section  7.5(e) (which shall be the sole bases for objecting to
such Tax Returns), they shall refer the dispute to the Independent  Accountants,
whose  determination  in  accordance  with the  procedures  set forth in Section
3.4(b)(ii) in respect of the  adjustments  to the Purchase  Price shall,  absent
manifest  error,  be final  and  binding  on all  parties.  Notwithstanding  the
foregoing, with respect to any Amended Tax Returns for Prior Periods or any 2004
Tax  Return,  in the event that the Sellers and the Buyer are unable to agree on
any matter  relating to such Tax Return  prior to the Closing  Date (or the date
such Tax Return is due, if earlier), then the filing of such Tax Return shall be
deferred  (except when a deferral would cause a Tax Return to be filed after its
due  date)  and  the  parties  shall  refer  the  dispute  to  the   Independent
Accountants,  whose determination in accordance with the procedures set forth in
Section 3.4(b)(ii) in respect of the matters in dispute with respect to such Tax
Return shall,  absent manifest error, be final and binding on all parties.  With
respect to any Tax Return  described  in this Section 7.5  concerning  which the
Sellers  and the Buyer  are  unable to  agree,  and  which is filed  before  the
Independent  Accountant is able to resolve such dispute (because the deferral of
such  filing  would have  caused the Tax Return to be filed after its due date),
then  if  and  to  the  extent  that  the  Independent  Accountant  subsequently
determines  that the Tax Return  actually filed by the Sellers  understated  the
amount of Taxes that would  properly  be required  to be  reflected  on such Tax
Return,  then  such  amount  of  understatement  shall  be paid to  Buyer  as an
indemnity payment from the Deferred Purchase Price under Section 3.2(d) pursuant
to the  provisions  of  Article 11 herein  and Buyer  shall file an amended  Tax
Return

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<PAGE>

correcting  the  understatement  in  question.  The  Buyer  agrees  that it will
cooperate and take any  reasonable  steps  necessary to enable the filing of any
Tax Returns prepared by the Sellers pursuant to this Section  7.5(a)(i) that are
to be filed on or after the Closing Date.

               (ii) After the  Closing,  the Buyer shall  prepare or cause to be
prepared and file or cause to be filed,  on a timely  basis,  Tax Returns of the
Companies  for all Tax periods  that begin before the Closing Date and end after
the Closing  Date.  The Buyer shall  permit the Sellers to review and comment on
each such Tax Return  described in the preceding  sentence prior to filing.  For
purposes  of this  Agreement,  in the case of any Taxes  that are  imposed  on a
periodic basis and are payable for a taxable period that includes or ends on the
Closing Date  (including the last Tax Returns filed for the Companies  ending on
the Closing  Date),  the portion of such Tax that relates to the portion of such
taxable  period  ending on the day  immediately  prior to the Closing  Date (the
"PRE-CLOSING TAX STRADDLE PERIOD") shall (A) in the case of any Taxes other than
Taxes based upon or related to income or receipts, be deemed to be the amount of
such Tax for the entire taxable period  multiplied by a fraction,  the numerator
of which is the number of days in the  portion of taxable  period  ending on the
day immediately  preceding the Closing Date, and the denominator of which is the
number  of days in the  entire  taxable  period,  and (B) in the case of any Tax
based upon or related to income or receipts,  be deemed equal to the amount that
would be  payable if the  relevant  taxable  period  ended at the end of the day
immediately preceding the Closing Date. Any credits relating to a taxable period
that begins  before and ends after the Closing  Date shall be taken into account
as though the relevant taxable period ended on the day immediately preceding the
Closing  Date.  If the Buyer and the  Sellers  are unable to agree on any matter
relating to a Tax Return described in this Section 7.5(a)(ii),  they shall refer
the dispute to the Independent  Accountant,  whose  determination  in accordance
with  the  procedures  set  forth  in  Section  3.4(b)(ii)  in  respect  of  the
adjustments to the Purchase Price shall,  absent  manifest  error,  be final and
binding  on all  parties.  Notwithstanding  anything  to the  contrary  in  this
Agreement  or  otherwise,  any and all Taxes  arising  from,  pertaining  to, or
incurred  by  virtue  of  the  termination,  assignment,  assumption,  transfer,
cancellation,  forgiveness,  payment  or  exchange  of all  Transferred  Assets,
Excluded  Liabilities and any  intercompany  amounts payable by the Companies to
the Sellers,  shall be borne by the Sellers (it being  understood that liability
for such  Taxes  shall not be  accrued  on the  Closing  Date  Balance  Sheet or
included in Closing Date Current  Liabilities  and it being  further  understood
that  liability  for such Taxes  shall be treated as  Excluded  Liabilities  for
purposes  of  this  Agreement).  Furthermore,  notwithstanding  anything  to the
contrary  in this  Agreement,  any U.S.  or Puerto  Rico Taxes of the  Companies
relating to the purchase of the Acquired Interests by the Buyer from the Sellers
and the merger  immediately  thereafter  of Cable Corp.  with and into the Buyer
shall be (i) borne by the Sellers if such Taxes  arise  from,  pertain to or are
incurred by virtue of the purchase of the Acquired  Interests by the Buyer,  and
(ii) borne by the Buyer if such Taxes arise from,  pertain to or are incurred by
virtue of the merger of the Cable Corp. into the Buyer.

               (iii) Any Tax refunds that are received by the Buyer, Cable Corp.
or the Cable Venture and any amounts  credited against Taxes to which the Buyer,
Cable Corp. or the Cable Venture becomes entitled, that relate to Tax periods or
portions  thereof ending on or before the Closing Date, shall be for the account
of the Sellers except that the portion of the refund or credit  allocable to the
Closing Date itself shall be for the account of the Buyer (unless the particular
refund or credit in question  allocable  to the Closing  Date  pertains to a Tax
liability of the Sellers under this  Agreement in which case it shall be for the
account of the Sellers). The

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<PAGE>

Buyer,  Cable Corp. or the Cable  Venture  shall pay over to the Sellers  Escrow
Account (or as designated  by the Sellers  following the closure of such Sellers
Escrow  Account) any such refund  within ten (10)  Business  Days  following the
Companies' receipt thereof. The Buyer shall use commercially  reasonable efforts
to have the  applicable  Governmental  Authority that issues any credits that it
receives  with  respect to Taxes  relating to tax  periods or  portions  thereof
ending on or prior to the Closing to, in lieu of such  credits,  issue a refund.
If after  using such  commercially  reasonable  efforts,  the Buyer is unable to
obtain a refund,  then the Buyer  shall pay to the  Sellers  Escrow  Account the
amount of such  credits as such  credits are  utilized to offset the Buyer's Tax
liability.  The Sellers shall  reimburse the Buyer all  reasonable out of pocket
expenses to obtain  such  refunds or  credits.  The Buyer and the Sellers  shall
cooperate in all reasonable respects in connection with such refunds.

          (b) (i) After the Closing,  the Buyer and the Sellers shall  cooperate
fully, as and to the extent reasonably  requested by the other such parties,  in
connection  with the filing of Tax Returns  pursuant to this  Section 7.5 and in
connection with any audit, litigation or other proceeding with respect to Taxes;
PROVIDED that the Sellers shall reimburse the Buyer and its Affiliates for their
reasonable  out-of-pocket  costs  incurred  (including the costs incurred in the
form  of fees  from  outside  professionals  such as  accountants  and  lawyers)
relating  to an  audit,  litigation  or other  proceeding  with  respect  to the
Pre-Closing  Period and the Buyer shall  reimburse  the  Sellers for  reasonable
out-of-pocket expenses relating to an audit, litigation or other proceeding with
respect to the Post-Closing Period. Such cooperation shall include the retention
and  (upon  any such  other  party's  request)  the  provision  of  records  and
information that is reasonably  relevant to any such audit,  litigation or other
proceeding  and making  employees  available on a mutually  convenient  basis to
provide  additional   information  and  explanation  of  any  material  provided
hereunder.  The Sellers and the Buyer agree, and agree to cause the Companies to
(A) retain all books and records  with  respect to Tax matters  pertinent to the
Companies relating to any taxable period beginning before the Closing Date until
the  expiration of the  applicable  statute of  limitations  (and, to the extent
notified by the Buyer or the Sellers, any extensions  thereof),  and to abide by
all record retention agreements entered into with any Taxing Authority,  and (B)
give  such  other  parties  reasonable  written  notice  prior to  transferring,
destroying  or  discarding  any such books and  records  and, if any other party
reasonably  so  requests,  the Sellers or the Buyer,  as the case may be,  shall
allow any such other party to take  possession  of such books and  records.  The
Sellers and the Buyer further  agree,  upon request,  to provide the other party
with  all  information  reasonably  available  to it that  either  party  may be
required  to  report  pursuant  to  Section  6043 of the Code  and all  Treasury
Regulations  promulgated  thereunder (including any equivalent provisions of the
PR Tax Code and the PR Treasury Regulations).

               (ii)  Following the Closing,  subject to Section 11.3,  the Buyer
shall: (A) promptly notify the Sellers of any audit, examination,  litigation or
other judicial,  administrative  or other proceeding of which the Buyer receives
notice or otherwise  obtains  knowledge  regarding  any Tax or Tax return of the
Buyer or  either  of the  Companies  that  relates  to any  period  prior to the
Closing; and (B) permit the Sellers (and their attorneys,  accountants and other
representatives)  to participate in any such audit,  examination,  litigation or
other proceeding. Without prior written approval from the Sellers, in accordance
with the  provisions in Section  11.3,  the Buyer shall not agree or consent to,
approve,  permit or  otherwise  acquiesce  in the  extension  of any  statute of
limitations applicable to the assessment of any deficiency with

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<PAGE>

respect  to any Tax paid,  payable  or alleged to be payable by the Buyer or the
Companies that relates to any period prior to the Closing.

               (iii) The Buyer and the Sellers  further  agree,  upon request of
the other, to use commercially  reasonable  efforts to obtain any certificate or
other  document  from any  Governmental  Authority or any other Person as may be
necessary  to  mitigate,  reduce  or  eliminate  any Tax that  could be  imposed
(including, but not limited to, with respect to the Transactions).

          (c)  Provided  that the  Confirmation  Order  includes the finding set
forth in clause (J) of Section 7.11(b)(ii) in accordance with Section 1146(c) of
the  Bankruptcy  Code,  the making or delivery of any  instrument  of  transfer,
including  the filing of any deed or other  document of  transfer  to  evidence,
effectuate or perfect the rights,  transfers and interest  contemplated  by this
Agreement,  shall be in contemplation of a plan or plans of reorganization to be
confirmed by the Bankruptcy  Court,  and such shall be free and clear of any and
all transfer  tax,  stamp tax or similar  Taxes.  Such  instruments,  orders and
agreements  transferring  the Acquired  Interests to the Buyer shall contain the
following endorsement:

          "Because this [INSTRUMENT] has been authorized pursuant to an order of
          the United States  Bankruptcy  Court for the Southern  District of New
          York,  in  contemplation  of a plan  of  reorganization  of the  Cable
          Venture,  it is exempt  from  transfer  taxes,  stamp taxes or similar
          taxes pursuant to 11 U.S.C. ss. 1146(c)."

If such transfer, stamp or similar Taxes are ultimately payable, notwithstanding
Section 1146(c) of the Bankruptcy Code or for any other reason, the Sellers,  on
the one hand (from the  Sellers  Escrow  Account),  and the Buyer,  on the other
hand,  shall each pay 50% of such transfer,  stamp or similar Taxes which may be
payable by reason of the Transactions and any and all claims, charges,  interest
or penalties assessed, imposed or asserted in relation to any such Taxes.

          (d) With respect to the Cable Venture, the Buyer and the Sellers agree
to  utilize,  or cause their  respective  Affiliates  to utilize,  to the extent
available,  the alternative  procedure set forth in Revenue Procedure 96-60 with
respect to wage reporting.

          (e)  Except as set forth on  SCHEDULE  7.5 or in  connection  with the
reconstruction  of the Companies' books and records and reaudit of its financial
statements,  or with the  written  consent of the Buyer (not to be  unreasonably
withheld),  since  January 1, 2004,  none of the Companies (i) has made (or will
make) any Tax  election,  (ii)  adopted or changed (or will adopt or change) any
accounting period or method for Tax purposes, (iii) consented to or entered into
(or will consent to or enter into) any closing  agreement  or similar  agreement
with any Taxing Authority,  (iv) consented to or settled or compromised (or will
consent to, settle or compromise) any Tax claim or assessment if such settlement
or  compromise  involves  other than the payment of money,  or (v) has taken (or
will take) any position  inconsistent  with any past practice on any Tax Return,
or (vi) has taken (or will take) any action  (other than in the ordinary  course
of  business  consistent  with past  practice)  that  would  have the  effect of
increasing  the Tax  liability  of the  Companies on the Closing Date or for any
period  ending  after the Closing Date or would  decrease  any  attribute of the
Companies existing on the Closing Date. Notwithstanding

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anything  to the  contrary  herein,  even  though  the  effect of the  following
activities may result in income or gains,  or decreased  deductions,  that would
increase  the Tax  Liabilities  of the  Companies on the Closing Date or for any
period  ending  after the Closing Date or would  decrease  any  attribute of the
Companies  existing on the Closing Date, (A) clause (vi) of this  subsection (e)
shall not require  the  Company to disclose on Schedule  7.5 or obtain the prior
written consent of the Buyer for any activities conducted in the ordinary course
of business consistent with past practice, and (B) this subsection (e) shall not
require the Company to  disclose  on  SCHEDULE  7.5 or obtain the prior  written
consent of the Buyer for items in amended  Tax  Returns  that are (i) based on a
change of capitalization  or depreciation  policy reflected in amended financial
statements (without altering or eliminating the Sellers' representation on basis
set forth in Section  4.12(g))  or (ii)  otherwise  consistent  with the Audited
Financials  or Interim  Financials  included  in the S-1  Financial  Statements,
provided, with respect to both clauses (i) and (ii) of this sentence, that under
the  governing  tax  authorities  it is permitted  for the Companies to correct,
change or amend Tax Returns (including methods of accounting in such returns) on
account of or in response to the amended financial statements.

     7.6 NON-SOLICITATION. Prior to the Closing, and if the Transactions are not
consummated for a period of two years after  termination of this Agreement,  the
Buyer shall not,  directly or indirectly,  solicit for employment or consulting,
on its behalf or on behalf of any other person, any employee of the Companies as
of the date of this  Agreement,  or seek to induce or persuade any such employee
to terminate his or her employment  with the Companies;  PROVIDED,  that nothing
herein shall prohibit the Buyer (i) from hiring any past or present  employee of
the  Companies  if  such  Person  has  responded  only  to  general   employment
solicitations  or  advertisements  of the  Buyer  or (ii)  from  soliciting  for
post-Closing employment by or consulting with the Buyer (with such employment or
consulting  arrangement to occur only upon consummation of the Transactions) any
of the persons listed on SCHEDULE 7.6 (the "KEY PERSONNEL"), and the Sellers and
the Companies shall allow the Buyer and its representatives  full access to such
Key Personnel at all  reasonable  times,  and in a manner so as not to interfere
with the normal  business  operations of the Sellers or the  Companies,  for the
purpose of discussing  such  employment or  consulting  arrangements;  PROVIDED,
FURTHER,  that the Buyer shall provide the Sellers and the Companies with notice
of and a reasonable  opportunity to be present during any such discussions,  and
the Sellers and the Companies  hereby agree and acknowledge  that the content of
any such discussions shall constitute Buyer Confidential Information.

     7.7 FURTHER ASSURANCES;  SATISFACTION OF COVENANTS,  ETC. The Companies and
the  Sellers,  on the one hand,  and the Buyer,  on the other  hand,  shall each
execute  such  documents  and other  papers  and take or cause to be taken  such
further action as may be reasonably required to carry out the provisions of this
Agreement  and to consummate  and make  effective  the  Transactions.  The Cable
Venture  and the  Sellers,  on the one hand,  and the Buyer,  on the other hand,
shall each in good faith seek to satisfy each of its covenants  and  obligations
under this  Agreement and to satisfy each condition to Closing it is required to
satisfy hereunder (and, in the case of the conditions set forth in Section 8, to
cooperate  with each other in seeking  the  satisfaction  of these  conditions).
After the Closing,  each of the Sellers,  on the one hand, and the Buyer, on the
other hand, shall provide each other and each other's authorized representatives
with full access at all reasonable times, and in a manner so as not to interfere
with the  normal  business  operations  of the  applicable  Seller  or to unduly
interfere with the  performance  by the Companies'  employees of their duties to
the Companies, or the Buyer, in each case, respectively,

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to all relevant  books,  records,  work papers,  information  and  employees and
auditors  of such  Persons,  to the  extent  necessary  in  connection  with the
preparation of any Tax Return or any Tax audit,  the Excluded  Liabilities,  any
third party claim for indemnification,  any dispute between ML Media and Century
or Adelphia or any other reasonable purpose; PROVIDED, HOWEVER, that the Sellers
shall  reimburse the Buyer for the cost of the time (based only on an allocation
of  direct  salary  costs)  of any  employees  of the  Companies  and the  party
requesting  the access shall  reimburse the party  providing such access for any
out-of-pocket third party expenses incurred in providing such access.

     7.8  CHANGE  OF  BUSINESS  NAME.  The Buyer  agrees  that  within  180 days
following  the  Closing  Date it will  change  any  trade  or  fictitious  names
previously  used by the  Companies  such that neither the Buyer's nor any of its
Affiliates' joint venture,  partnership,  limited liability company,  corporate,
trade or fictitious names will contain the terms "CENTURY,"  "ADELPHIA" "ML," or
any other term  incorporating or confusingly  similar with such terms. The Buyer
agrees that,  except as set forth on SCHEDULE 7.8, from and after such 180th day
neither the Buyer nor any of its Affiliates  will use or conduct  business using
any of such  names,  other  than to notify  Persons  of their  name  changes  in
connection  with the  transfer  of control of the  Companies  to the Buyer.  The
Sellers hereby grant the Buyer a non-exclusive,  royalty-free license to use the
Retained  Marks in  connection  with the  operation  of the Systems for 180 days
following  the Closing Date (or, as  applicable,  for such longer  period as set
forth on SCHEDULE 7.8).  Notwithstanding  the  foregoing,  the Buyer will not be
required to remove or  discontinue  using any Retained Marks that are affixed to
converters,  remotes and other items used in customer  homes or  properties,  or
that  are  used in  similar  fashion  making  such  removal  or  discontinuation
impracticable.  The  right of the Buyer to use the  Retained  Marks  during  the
period referred to in this Section is subject to the following  conditions:  (i)
the Buyer will comply with the Sellers'  quality control  standards with respect
to use of the  Retained  Marks and will submit to the  Sellers,  before use, any
materials  created  by the Buyer  after the  Closing  Date,  including,  without
limitation,  advertising  materials,  on which the Retained Marks appear for the
Sellers' approval,  not to be unreasonably  withheld or delayed;  (ii) the Buyer
acknowledges  that the  Retained  Marks shall remain the property of the Sellers
and/or  such  of  their  Affiliates  that  have  rights  in the  Retained  Marks
(collectively,  the "MARK OWNER"), and that all use of the Retained Marks by the
Buyer shall  inure to the  benefit of the Mark Owner;  (iii) the Buyer shall not
use the  Retained  Marks in any way that  would  jeopardize  their  strength  or
validity or diminish their value;  and (iv) the Buyer shall promptly  inform the
Sellers of any infringement of the Retained Marks by any third party of which it
becomes aware.

     7.9  INSURANCE.  Each Company shall maintain in full force and effect until
Closing all existing  insurance policies or comparable  replacements,  including
without limitation any such policies relating to environmental, health or safety
liabilities,  to cover and protect  the assets of the  Companies  against  loss,
damage or destruction.

     7.10 FULL ACCESS.  Each Company and each Seller shall,  and shall cause its
Affiliates to, afford the members of the Buyer Group,  upon  reasonable  advance
notice and during normal business hours, such access to the properties,  plants,
personnel, equipment, facilities, books and records of the Companies as shall be
reasonably  necessary to enable the Buyer and its agents and representatives (a)
to investigate  the business  affairs or  environmental  compliance or liability
status (but shall not do any intrusive  testing,  without  approval of the Cable
Venture, such

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approval  not  to be  unreasonably  withheld,  delayed  or  conditioned)  of the
Companies for purposes of the Transactions and (b) to make orderly  arrangements
for the consummation of the Transactions.

     7.11  BANKRUPTCY PROCESS.

          (a) MOTIONS, ORDERS, ETC. The Cable Venture  shall  prepare  and  file
with the Bankruptcy Court, not later than three (3) days from the date hereof, a
motion to approve the Expense  Reimbursement and Break-Up Fee. The Cable Venture
and the Sellers shall promptly  prepare and file with the Bankruptcy  Court: (i)
the  Plan in form  and  substance  acceptable  to the  Buyer  in its  reasonable
judgment,  (ii) a  Disclosure  Statement  with  respect to the Plan  meeting the
requirements  of  section  1125(b)  of  the  Bankruptcy  Code  (the  "DISCLOSURE
STATEMENT");  and (iii) a motion to approve the Disclosure Statement.  The Plan,
any and all attachments  and exhibits to the Plan, the Disclosure  Statement and
any approval motions and the orders approving the foregoing (including the order
confirming  the Plan) shall be  acceptable in form and substance to the Buyer in
its reasonable  judgment and shall include all of the items set forth in Section
7.11(b) of this Agreement  (the  "CONFIRMATION  ORDER").  The Sellers and/or the
Cable  Venture  shall serve a copy of the Plan and  Disclosure  Statement on all
Taxing  Authorities  having  jurisdiction over the assets of the Companies,  all
governmental  agencies having jurisdiction over the assets of the Companies with
respect to Environmental Laws and on the attorneys general for the Commonwealth.
The Cable Venture  shall add the Buyer,  and the Buyer's  counsel,  to the Cable
Venture's  so-called "Rule 2002 notice list" and otherwise provide notice to the
Buyer of all  matters  that are  required  to be served  on the Cable  Venture's
creditors  pursuant to the Bankruptcy Code and Rules.  The Sellers and the Cable
Venture shall provide the Buyer with copies of all material pleadings,  motions,
orders and notices  prepared by or on behalf of the Cable Venture at least three
(3)  Business  Days to the extent  practicable  (or one (1)  Business Day if not
practicable)  prior to the filing  thereof in the Chapter 11 Case so as to allow
the  Buyer  to  provide  comments  on the same (in all  cases  subject  to their
fiduciary duties and as emergencies may otherwise require).

          (b) CONFIRMATION ORDER.

               (i) The  Cable  Venture  shall  use its  commercially  reasonable
efforts to obtain approval of the Confirmation  Order and any other Order of the
Bankruptcy  Court  necessary to authorize and  consummate  the  Transactions  as
promptly as practicable.

               (ii) The  Cable  Venture  shall use its  commercially  reasonable
efforts to cause the Confirmation Order to provide, among other things:

                    (A) provide  that  the Plan has been proposed in good  faith
and not by any means forbidden by law;

                    (B) provide that the Buyer,  and  its  Affiliates,  members,
equity holders,  partners and professionals,  are released from any claim of any
party  related to the Sellers,  the business of the  Companies or the Chapter 11
Case, except as otherwise set forth in this Agreement;

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                    (C) approve  the sale of the Acquired Interests on the terms
and  conditions  set forth in this Agreement and authorize the Cable Venture and
Century to proceed with this  transaction  and the Cable  Venture and Century to
comply with their respective obligations under this Agreement;

                    (D) provide for the payment by the Buyer of ordinary  course
of business  post-petition  trade payables and accrued expenses  incurred by the
Cable  Venture  according to the normal and customary  terms  applicable to such
payments and expenses;

                    (E) state that any objections timely filed with  respect  to
the Plan, which have not been withdrawn,  are overruled or the interests of such
objections  have been  otherwise  satisfied  or  adequately  provided for by the
Bankruptcy Court;

                    (F) find that  the Purchase Price represents fair  value for
the Acquired Interests;

                    (G) find that the Plan is in the best interests of the Cable
Venture's estates and creditors;

                    (H) provide  that  the   Bankruptcy   Court   shall   retain
jurisdiction for the purpose of enforcing the provisions of this Agreement,  the
Confirmation Order and the Plan;

                    (I) authorize the Cable  Venture  and  Century  to  execute,
deliver,  perform under, consummate and implement this Agreement,  together with
all additional  instruments  and documents  that may be reasonably  necessary or
desirable to implement the foregoing;

                    (J) find that, pursuant to Section 1146(c) of the Bankruptcy
Code,  the  within  transaction  is "in  contemplation  of a plan  or  plans  of
reorganization  to be confirmed by the  Bankruptcy  Court," and as such shall be
free and clear of any and all transfer tax, stamp tax or similar Taxes;

                    (K) provide that all equity  or  equity-based  compensation,
and any documents and agreements  relating thereto,  and all other Interests (as
defined in the Bankruptcy  Code) in the Cable Venture will be canceled,  and all
obligations  of the Cable Venture and any  Affiliates of the Cable Venture under
or in respect of them will be terminated;

                    (L) find that the Buyer is a "good faith" purchaser entitled
to the protection afforded thereby under section 363(m) of the Bankruptcy Code;

                    (M) provide that Adelphia, its Affiliates, and any  official
committee and its professionals appointed in the bankruptcy cases of Adelphia or
any of its Affiliates shall be bound by the obligations of the Sellers set forth
in Section 7.1(b) and Section 7.16; and

                    (N) find  that  the  Buyer  has  not  acted in violation  of
Section 363(n) of the Bankruptcy Code.

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+

              (iii) The  Confirmation Order  shall  approve  and  authorize  the
assumption of the Assumed Executory Contracts.

          (c) COMPETING TRANSACTIONS.

               (i) From the date of this Agreement, neither the Sellers nor  the
Companies  shall,  and they  shall  not  authorize  or permit  their  respective
Affiliates  or their  respective  members,  professionals,  advisors,  officers,
directors, employees, representatives, other agents or other related parties to,
directly or indirectly, (x) solicit, initiate or encourage the submission of any
Acquisition  Proposal,  (y)  participate  in  any  discussions  or  negotiations
regarding,  or furnish to any Person any non-public  information with respect to
the Companies, or take any other action to facilitate,  any Acquisition Proposal
or any  inquiries  or  the  making  of any  proposal  that  constitutes,  or may
reasonably  be expected to lead to, any  Acquisition  Proposal or (z) enter into
any agreement with respect to an Acquisition Proposal.

                (ii) FIDUCIARY EXCEPTION.

                     (A) Notwithstanding the provisions  of  Section 7.11(c)(i),
Century shall not be prohibited from furnishing information to, or entering into
discussions or negotiations with, any Person that makes an unsolicited bona fide
written Acquisition Proposal if, and only to the extent that, (1) such action is
taken prior to the issuance of the  Confirmation  Order,  (2) Century's board of
directors (its "BOARD"),  after  consultation  with  independent  legal counsel,
determines  in good faith that such action is  required  for the Board to comply
with its fiduciary obligations to Century's  stakeholders under applicable Legal
Requirements,  (3) such  Acquisition  Proposal  is an all-cash  offer,  with all
third-party  financing (if any) being evidenced by bona fide signed  commitments
from reputable  financial  institutions  that do not include  conditions to such
financing  less  favorable  than the  conditions  set  forth  in the  Commitment
Letters,  to acquire  100% of  Century's  joint  venture  interests in the Cable
Venture,  and (4) the Board  determines  in good  faith  that  such  Acquisition
Proposal,  if  accepted,  is likely to be  consummated,  taking into account all
legal,  financial,  regulatory  and other aspects of the proposal and the Person
making the proposal,  and believes in good faith,  after  consultation  with and
based upon the written  opinion  (in  customary  form and  subject to  customary
conditions) of an independent, nationally recognized financial advisor, that the
Acquisition Proposal would, if consummated,  result in a transaction superior to
Century's stakeholders from a financial point of view than the Transactions (any
such materially more favorable  Acquisition Proposal being referred to herein as
a "SUPERIOR  PROPOSAL").  Prior to taking any action  pursuant  to this  Section
7.11(c)(ii) with respect to an Acquisition Proposal, Century shall provide prior
written  notice to the Buyer to the  effect  that it is  proposing  to take such
action and provide the additional information required by Section 7.11(c)(ii)(B)
(to the extent not previously provided to the Buyer).

                    (B) The Sellers and the Cable Venture shall notify the Buyer
of any Acquisition Proposal or request for nonpublic information from any Person
who  is  considering  making  an  Acquisition   Proposal   (including,   without
limitation,  all material terms and  conditions  thereof and the identity of the
Person  making  it) as  promptly  as  practicable  (but in no case later than 24
hours) after its receipt thereof, and shall provide the Buyer with a copy of any
written  Acquisition  Proposal or amendments or supplements thereto (or, if such
action is

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prohibited, a written summary of the material terms of the foregoing,  including
the identity of any Person submitting an Acquisition Proposal),  and, if Century
has  become  authorized  pursuant  to  Section   7.11(c)(ii)(A)  to  enter  into
discussions  concerning  such  Acquisition  Proposal,  Century shall  thereafter
inform the Buyer on a current basis of the status of any inquiries,  discussions
or  negotiations  with such Person,  and any  material  changes to the terms and
conditions of such  Acquisition  Proposal,  and shall  promptly give the Buyer a
copy of any information  related to the Companies  delivered to such Person that
has not previously been provided to the Buyer.

                    (C) Century shall not enter into any  final  and  definitive
agreements relating to any such Acquisition  Proposal  ("ALTERNATE  AGREEMENTS")
unless it shall  have  first  afforded  the Buyer  the  opportunity  to match or
improve upon the terms and conditions of such Acquisition  Proposal (the Buyer's
"MATCHING RIGHT").  Not less than three (3) Business Days prior to the execution
of any  Alternate  Agreements,  Century shall deliver to the Buyer (1) copies of
such Alternate Agreements,  together with (2) a notice to the Buyer stating that
the Buyer  shall have three (3)  Business  Days from  receipt of such  notice to
exercise its Matching Right. If the Buyer elects to exercise its Matching Right,
Century shall not enter into any such  Alternate  Agreements or seek an Order of
the Bankruptcy Court confirming a plan of reorganization or otherwise  approving
and authorizing the  transactions  contemplated by such Alternate  Agreements on
the terms set forth therein unless Century and the Cable Venture also submit the
Plan (as  modified  by the Buyer in the  exercise  of its  Matching  Right)  for
consideration  and approval by the  Bankruptcy  Court.  If the Buyer declines to
exercise  its  Matching  Right with  respect to the  Alternate  Agreements,  the
provisions of this Section 7.11(c)(ii)(C) shall thereafter apply to any proposed
material amendment or modification of such Alternate Agreements. The exercise or
non-exercise  by the Buyer of its  Matching  Right shall not alter or affect its
rights to terminate  this Agreement or to receive the Expense  Reimbursement  or
the Break-Up Fee in accordance with the applicable provisions of this Agreement.

               (iii) Upon the execution  and  delivery  of  this  Agreement, the
Sellers and the Companies will, and will cause their respective Affiliates,  and
their respective members, officers, directors, employees, professional advisors,
representatives   and  other  agents  to,  cease  and   terminate  any  existing
activities,  discussions or negotiations with any parties  conducted  heretofore
with respect to any possible Acquisition Proposal.

               (iv) EXPENSE REIMBURSEMENT; BREAK-UP FEE.

                        (A) If  this   Agreement  is  terminated   pursuant   to
Section  12.1(b)  (but only if (x) the Buyer has  satisfied  all  conditions  to
Closing requiring performance by the Buyer and (y) the failure of the Closing to
occur on or before the  Termination  Date is the  result of a willful  breach by
either of the Sellers or the Companies), Section 12.1(d) or Section 12.1(e) (but
in each case only if (x) the Buyer is not in material  breach of any  obligation
under this  Agreement and (y) the breach or breaches  giving rise to the Buyer's
right to terminate is a willful breach by either of the Sellers or the Companies
and, in the case of a breach of covenant where  satisfaction  of the covenant is
solely  within the control of the Sellers  and the  Companies,  does not involve
obtaining  a  third  party  consent,  and  can  be  satisfied  using  reasonable
commercial  efforts,  any  breach  shall be deemed  willful),  Section  12.1(f),
Section 12.1(g),  Section 12.1(h),  Section  12.1(i),  Section 12.1(j),  Section
12.1(k),  Section  12.1(l)  or  Section  12.1(o)  (but only if

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the basis of such termination is the issuance by the Bankruptcy Court of a Final
Order rejecting the Plan),  then,  provided that the Expense  Reimbursement  and
Break-Up Fee were  previously  approved by the Bankruptcy  Court,  the Companies
shall reimburse the Buyer Group for all of its reasonable out-of-pocket expenses
incurred in connection with this Agreement  (including expenses or other amounts
the  Buyer  pays  pursuant  to the terms of this  Agreement,  such as all or any
portion  of any  filing  fee),  up to a  total  amount  of six  million  dollars
($6,000,000)  (the "EXPENSE  REIMBURSEMENT")  in same-day  funds, at the time of
such  termination.  For the  avoidance of doubt,  the parties agree that if this
Agreement is terminated pursuant to Section 12.1(f),  the Buyer Group's right to
reimbursement of its expenses by the Companies shall be governed by that certain
Expense  Reimbursement  Agreement,  dated as of January 19, 2005, by and between
the Cable Venture and MidOcean  Partners LP, as the same shall have been amended
through the date of such termination (the "EXPENSE REIMBURSEMENT AGREEMENT").

                        (B) If   this   Agreement   is  terminated  pursuant  to
Section  12.1(b)  (but only if (x) the Buyer has  satisfied  all  conditions  to
Closing requiring performance by the Buyer and (y) the failure of the Closing to
occur on or before the  Termination  Date is the  result of a willful  breach by
either Seller or by either of the Companies), Section 12.1(d) or Section 12.1(e)
(but in  each  case  only if (x) the  Buyer  is not in  material  breach  of any
obligation  under this  Agreement and (y) the breach or breaches  giving rise to
the Buyer's  right to terminate is a willful  breach by either of the Sellers or
the Companies and, in the case of a breach of covenant where satisfaction of the
covenant is solely  within the control of Sellers  and the  Companies,  does not
involve  obtaining a third party consent and can be satisfied  using  reasonable
commercial  efforts,  any breach shall be deemed  willful),  Section  12.1(g) or
Section  12.1(o)  (but only if the  Bankruptcy  Court  shall have issued a Final
Order  rejecting  the Plan) then, in addition to the Expense  Reimbursement,  if
within 12 months of such termination the Sellers or the Companies consummate the
transactions  contemplated  by any  Acquisition  Proposal (or, if the Chapter 11
Case has not been finally concluded within such 12-month period, obtain an Order
of the Bankruptcy Court approving and authorizing the transactions  contemplated
by any  Acquisition  Proposal),  the Companies shall pay the Buyer a termination
fee  in  an  amount  equal  to  $15,600,000  less  the  amount  of  the  Expense
Reimbursement  (the  "BREAK-UP  FEE"),  in  same-day  funds,  on the day of such
transactions are consummated or the day of entry of such Order, as applicable.

                        (C) If this   Agreement   is   terminated   pursuant  to
Section  12.1(h) or (i),  then,  in addition to the  Expense  Reimbursement  (x)
Century shall pay the Buyer 50% of the Break-Up Fee, in same-day  funds,  on the
day the transactions  contemplated by the applicable  Alternative  Agreement are
consummated,  and (y) if, within 12 months of such  termination,  ML Media sells
its joint  venture  interest  in the Cable  Venture to a Person  (other than the
Buyer or its  Affiliates) at a price greater than or equal to the price at which
Century sold its joint venture interest  pursuant to the applicable  Alternative
Agreement,  ML Media  shall pay the Buyer 50% of the  Break-Up  Fee, in same-day
funds, on the day it consummates such sale.

                (d) OTHER BANKRUPTCY COVENANTS. The Cable Venture shall use  its
commercially  reasonable  efforts to make any  filings,  take all  actions,  and
obtain any and all other  approvals  and orders  necessary  or  appropriate  for
consummation of the Transactions,  subject to its obligations to comply with any
order of the  Bankruptcy  Court.  The Cable Venture  shall  provide  appropriate
notice of the hearing on the Plan as is required by the  Bankruptcy  Code

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Rules, Local Rules and orders of the Bankruptcy Court to all parties entitled to
notice  including,  but not limited  to, all  parties to the  Assumed  Executory
Contracts. The Assumed Executory Contracts shall be identified in the Disclosure
Statement by the date of the Assumed Executory  Contract(s),  the other party to
the contract or lease and the address of such party.  The  Disclosure  Statement
shall set forth the amounts (if any)  necessary to cure  defaults  under each of
such Assumed Executory Contracts as determined by the Cable Venture based on the
books and records of the Cable  Venture.  The Cable Venture shall be responsible
for payment of any and all cure amounts  associated  with the  assumption of the
Assumed  Executory  Contracts.  Neither the Cable  Venture nor the Sellers shall
amend, modify or supplement the Plan, Disclosure Statement or Confirmation Order
in any  material  respect  adverse  to the Buyer  without  the  Buyer's  written
consent,  which consent shall not be  unreasonably  withheld or delayed.  In the
event an appeal is taken, or a stay pending appeal is requested, from any of the
foregoing orders of the Bankruptcy  Court,  the Cable Venture shall  immediately
notify the Buyer of such appeal or stay request and,  upon the Buyer's  request,
shall provide to the Buyer within two (2) days after the Cable Venture's receipt
thereof a copy of the  related  notice  of  appeal  or order of stay.  The Cable
Venture  shall  also  provide  the Buyer  with  written  notice  of any  motion,
application,  brief or other pleading  filed in connection  with any appeal from
any of such  orders.  The Buyer shall  cooperate  with the Sellers and the Cable
Venture in all  reasonable  respects in connection  with the  proceedings in the
Bankruptcy Court,  including,  without  limitation,  delivery of any information
relating to the Buyer required in connection with such filings or proceedings.

                (e) CERTAIN   CLAIMS    IN    BANKRUPTCY.    Claim    #838001770
($1,242,744.00)  and  #838001780  ($10,343.00)  of Secretario De Hacienda in the
Chapter 11 Case shall be satisfied or discharged prior to the Closing.

        7.12 CONTINUITY AND MAINTENANCE OF OPERATIONS. From  the  date  of  this
Agreement until the Closing, unless otherwise agreed to in writing by the Buyer,
with  respect to the assets and  properties  of the  Companies  and the  Systems
(other than the Transferred Assets):

                (a) Except as described in Schedule 7.12(a):

                        (i) the Companies shall, and the Sellers shall cause the
Companies to, continue to operate the Systems in the usual, regular and ordinary
course consistent with past practice and make ordinary  marketing,  advertising,
capital,  promotional and other  expenditures and implement ordinary pricing and
promotional  strategies  consistent  with  past  practice  and,  to  the  extent
consistent with such conduct and operation,  use commercially reasonable efforts
to (a) preserve the current business intact in all material respects,  including
preserving  existing  relationships  with  franchising  authorities,  suppliers,
customers  and  others  having  business  dealings  with the  Companies  and the
Systems,  (b)  continue  the Rebuild of the San Juan System in  accordance  with
specifications  set forth on SCHEDULE  1.1(W),  (c)  complete  line  extensions,
placing conduit or cable in new developments and fulfill  installation  requests
in the ordinary course of business and (d) exercise all of the Companies' rights
to maintain  existing  "must  carry" and  retransmission  agreements  (including
delivery of timely notices  required in connection with extensions or renewals);
provided,  however, the Companies shall not institute any promotions longer than
six months,  other than a  Dish-Win-Back  promotion,  without the consent of the
Buyer.

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                        (ii) the Companies shall continue to operate the Systems
in material compliance with all Legal Requirements;

                        (iii) without limiting the generality of the foregoing,
each Company  shall  maintain  its assets and  properties  consistent  with past
practice,  maintain the Real  Property in  substantially  the same  condition as
exists  as of the date of this  Agreement,  ordinary  wear  and  tear  excepted,
maintain  commercially  reasonable  Inventory  levels in its ordinary  course of
business  (which  shall  include  sufficient  quantities  of  amplifiers,   line
extenders,  installation  materials  and  converters to operate and maintain the
Systems in the ordinary course of business),  maintain insurance as in effect on
the date of this Agreement and keep all of its business books, records and files
in the ordinary course of business;

                        (iv) except   in   the   ordinary   course  of  business
consistent with past practice,  neither Company shall itself, or will permit any
of its officers, managers, directors, shareholders, members, partners, agents or
employees to, pay or forgive any Subscriber  Accounts Receivable (other than for
their own residences) prior to the Closing Date;

                        (v) each   Company   shall  continue  to  implement  its
procedures for disconnection and  discontinuance of service to subscribers whose
accounts are  delinquent in accordance  with those in effect on the date of this
Agreement or consistent with past practice; and

                        (vi) the  Companies   shall  make  capital  expenditures
during the period from  January 1, 2005 through the Closing Date in an aggregate
amount equal to 100% of the amount of capital expenditures  budgeted in the 2005
Budget for the  period  from  January 1, 2005  through  the  Previous  Month End
(allocating any capital  expenditures  budgeted for the last quarterly period in
that period on a pro rata basis to the three months in the  quarter),  including
all capital  expenditures  at the  head-end  site  required  to launch  HDTV-DVR
service.

                (b) Except as described  in  SCHEDULE 7.12(b),  neither  Company
shall,  except in the ordinary course of business consistent with past practice,
as contemplated by the 2005 Budget,  as contemplated by this Agreement,  or with
the prior written consent of the Buyer:

                        (i) modify, amend, extend,  terminate,  renew,  suspend,
abrogate or enter into any  Franchise,  Governmental  Authorization  or Material
Contract  relating to the assets or  properties  of the Companies or the Systems
(other than Material  Contracts  relating  principally to the Rebuild of the San
Juan  System),   PROVIDED,   that  the  Buyer's  consent  thereto  will  not  be
unreasonably withheld;

                        (ii) change the rate charged for any subscriber  service
or establish a rate for DVR or HDTV service;

                        (iii) sell, transfer  or assign any  of  the  Companies'
assets or  properties  to any  Affiliate  or any other third  party,  except for
Transferred Assets,  other than sales,  transfers or assignments of inventory in
the ordinary course of business and of obsolete or worn-out equipment;  PROVIDED
that the Companies shall not sell any digital  converters  currently used by the
Systems without the prior consent of the Buyer;

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                        (iv) enter into any contract or commitment or incur  any
indebtedness  or other  Liability  or  obligation  of any kind  relating  to the
Systems;

                        (v) enter into any agreement with a billing service with
respect to the Systems;

                        (vi) take any action that  would  result  in  the  loss,
lapse or abandonment of any Company  Intellectual  Property (except with respect
to actions permitted with respect to Transferred Assets);

                        (vii) with   respect  to  the  Systems,  engage  in  any
marketing,  subscriber  installation,  collection or disconnection  practices or
offer  discounts  pursuant to selling or marketing  campaigns,  other than those
described on SCHEDULE 7.12(b);

                        (viii) make any capital expenditure or series of capital
expenditures that would require payment in whole or in part post-Closing (to the
extent that such post-Closing Liability would not be included in the calculation
of Closing Date Working Capital); or

                        (ix) take or commit to take any other action which,  if
taken prior to the date of this Agreement, would be required to be disclosed  on
SCHEDULE 4.3(f).

The Cable Venture shall  periodically  deliver to the Buyer a true,  correct and
complete copy of each Material  Contract,  Governmental  Authorization  or other
agreement  that is entered into after the date of this Agreement and that, if it
were in effect on the date of this Agreement,  would be required to be listed on
SCHEDULES  4.5,  4.6,  4.7,  4.8,  4.9, 4.10 or 4.17 (and shall deliver all such
copies not less than two (2) days prior to the Closing Date).

                (c) Notwithstanding anything in Section 7.12(b) to the contrary,
except as otherwise provided in this Agreement,  neither Company shall,  without
the prior written consent of the Buyer, modify, amend, extend, terminate, renew,
suspend,  abrogate or enter into any Pole  Attachment  Agreement or any Retained
Programming Agreement.

                (d) The Cable Venture shall deliver to  the  Buyer  correct  and
complete  copies of (i) all rate regulation  documents  prepared or filed at any
time  between  the  date of  this  Agreement  and  the  Closing,  and  (ii)  all
non-routine correspondence,  filings and submissions with or to any Governmental
Authority made between the date of this Agreement and the Closing within two (2)
days of the filing,  submission  or receipt  thereof.  The Cable  Venture  shall
deliver to the Buyer, as soon as practicable and in any event not later than the
delivery  of the  Estimated  Adjustment  Certificate,  the  rate  card as of the
Calculation Date,  describing the services  available from the Systems,  and the
rates charged by the Companies therefor, including all rates, tariffs, and other
charges for cable television or other services provided by the Systems,  and the
line up of the  stations  and  signals  carried by the  Systems  and the channel
position of each such signal and station. In addition,  within 30 days after the
last day of each calendar month,  the Cable Venture shall deliver to the Buyer a
report  setting forth the number of Equivalent  Subscribers of the Systems as of
the last day of such month,  listed by the  subscriber  categories  described in
Section 4.5(a).

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          (e)  Neither  Company  shall,  with  respect to any of its  employees,
except as required to comply with  applicable  law or as required to comply with
existing contracts or plans that are disclosed on SCHEDULE 4.9 or SCHEDULE 4.10:
(i) increase or decrease in any manner the  compensation  or fringe  benefits of
any employee (except for increases in the ordinary course of business consistent
with past practice in connection with normal salary  reviews);  (ii) voluntarily
recognize  any  union  as  collective  bargaining  representative  of any of its
employees;  (iii) enter into a collective  bargaining  agreement  governing  the
terms or condition of  employment of any of its  employees;  (iv) enter into any
government  contract giving rise to affirmative action  obligations  relating to
any of its employees; or (v) agree to do any of the foregoing. The Cable Venture
shall also notify the Buyer if, to the Companies' Knowledge,  there is any union
organizing  involving,  or  directed  towards,  any  group of  employees  of the
Companies, and consult with the Buyer concerning the Companies' response to such
organizing, and permit the Buyer to attend any collective bargaining discussions
that may occur with any union representing any of the employees of the Companies
for collective  bargaining purposes or, at the Buyer's option,  notify the Buyer
of the progress of such discussions.

     7.13  COMPLETION OF THE REBUILD OF THE SAN JUAN SYSTEM.

          (a) From the date hereof  until the  Completion  of the Rebuild of the
San Juan  System  (or until  the  Closing  Date if the Buyer  elects to accept a
reduction  in the  Purchase  Price  pursuant to Section  3.2(b)(ii)),  the Cable
Venture (and from and after the Closing Date,  the Sellers) shall deliver to the
Buyer monthly  progress  reports  regarding the status of the Rebuild of the San
Juan System, which shall include the Companies' and the Sellers' expenditures to
date in  connection  with the Rebuild of the San Juan System.  In addition,  the
Cable Venture shall permit the Buyer to conduct independent  progress reviews of
the status of the  Rebuild of the San Juan  System not less than sixty (60) days
and thirty  (30) days prior to the  earlier of (i) the date on which the Sellers
have  determined  (by written  notice to the Buyer) that the  Completion  of the
Rebuild of the San Juan System  will have  occurred  and (ii) the Closing  Date,
respectively,  which  progress  reviews  shall include the right of the Buyer to
inspect the San Juan System's  compliance  with the Rebuild  specifications  set
forth on SCHEDULE 1.1(W) and their compliance in all material  respects with the
construction specifications on SCHEDULE 7.13(d).

          (b) In order to minimize  disruptions to the System or to the services
to  customers  provided  thereby,  from and after  the  Closing  Date  until the
Completion  of the Rebuild of the San Juan System  (unless the Buyer has elected
to accept a reduction in the Purchase Price pursuant  Section  3.2(b)(ii)),  the
Sellers  shall not cause or permit a "cut-over" of service on any section of the
System to the  rebuilt  portion  thereof  unless  the  Sellers  shall have first
delivered to the Buyer written notice of such intended  "cut-over" not less than
five (5) Business Days prior to the intended date of transfer of service.

          (c) Except as set forth on SCHEDULE 7.13, the work, and all activities
of the Sellers,  the Companies  and/or their  contractors in connection with, in
furtherance  of, or in any way  related to the  Rebuild  of the San Juan  System
shall be performed in  compliance  in all material  respects  with  relevant and
applicable  laws,  ordinances,  rules and  regulations  (including  occupational
safety and health standards) of any Governmental  Authority having  jurisdiction
over any aspect thereof,  including,  without limitation: (i) rules, regulations
and requirements of the FCC, the Puerto Rico Board, the Environmental Protection
Agency, the United States

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Department of Transportation and the FAA; (ii) the Cable  Communications  Policy
Act of 1984,  as amended;  (iii) the  Telecommunications  Act of 1996;  (iv) the
Puerto Rico  Telecommunications  Act; and (v)  requirements of any  Governmental
Authorization covering the area in which the work is to be performed.

          (d) Upon the Sellers' determination that the Completion of the Rebuild
of the San Juan System has occurred, the Sellers shall promptly notify the Buyer
in writing.  Upon receipt of such notice, the Buyer will have 30 days thereafter
to conduct an independent  inspection and  verification of the Completion of the
Rebuild of the San Juan System,  which inspection and verification shall include
the right of the Buyer to  inspect  the  Systems'  compliance  with the  Rebuild
specifications set forth on SCHEDULE 1.1(W) and their compliance in all material
respects with the construction specifications on SCHEDULE 7.13(d), and deliver a
report  specifying  any such  non-compliance,  to be  corrected  at the Sellers'
expense.  In the  event  that  after  the  Buyer's  independent  inspection  and
verification of the Completion of the Rebuild of the San Juan System,  the Buyer
disputes that the  Completion of the Rebuild of the San Juan System has occurred
or the Sellers  disagree  with a report  delivered by the Buyer  pursuant to the
preceding sentence, the Buyer and the Sellers shall engage a neutral third party
engineer  to  resolve  the  dispute  as soon as  practicable  (the  "INDEPENDENT
ENGINEER").  The Independent Engineer's resolution of the dispute shall be final
and  binding,  absent  manifest  error.  The Buyer and the  Sellers  shall share
equally in the fees and expenses of the Independent Engineer;  PROVIDED that (i)
if the Independent  Engineer's  determination  is completed prior to the Closing
Date,  the Buyer shall deduct the Sellers'  share of such fees and expenses from
the amount payable to the Sellers at the Closing (which  deduction  shall not be
deemed a reduction of the Purchase Price) and (ii) if the Independent Engineer's
determination  is completed  after the Closing Date,  the Sellers' share of such
fees  and  expenses  shall be paid  from  the  Sellers  Escrow  Account.  If the
Completion  of the Rebuild of the San Juan System is finally  determined to have
occurred  (pursuant to the  determination  provisions  set forth in this Section
7.13(d)) after the Closing Date,  then, if the Buyer has not elected to accept a
reduction in the Purchase  Price  pursuant  Section  3.2(b)(ii),  any  remaining
amount in the Rebuild  Escrow  Account  (after  payment of Sellers' share of the
fees and  expenses  of the  Independent  Engineer,  if any) shall be paid to the
Sellers Escrow Account.

          (e) In the event  that (i) the  Completion  of the  Rebuild of the San
Juan  System has not  occurred  prior to the  Closing and (ii) the Buyer has not
elected to accept a reduction in the Purchase Price pursuant Section 3.2(b)(ii):

               (i) The process of the  Completion of the Rebuild of the San Juan
System (and payment for the Rebuild of the San Juan System) shall continue to be
supervised  by employees  of Century in the same manner as currently  conducted,
pursuant to the Transition Services  Agreement,  with any remaining costs of the
Rebuild of the San Juan System paid from the Rebuild  Escrow Account and, if the
actual cost for the Completion of the Rebuild of the San Juan System (including,
without limitation, any fines, fees, penalties or assessments for the failure to
comply with any Governmental  Authorizations  or Material  Contracts  associated
therewith) exceeds the amount in the Rebuild Escrow Account (such excess amount,
the "REBUILD COST OVERRUN"),  from the Sellers Escrow Account; provided that the
Sellers  acknowledge and agree that the Sellers shall remain liable for the full
amount of any Rebuild

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Cost Overrun,  notwithstanding  the release of any funds from the Sellers Escrow
Account prior to the Completion of the Rebuild of the San Juan System.

                (ii) In addition to the "as-built" maps of the  portion  of  the
San Juan System being  rebuilt to be delivered to the Buyer  pursuant to Section
7.15(f),  upon the Completion of the Rebuild of the San Juan System, the Sellers
shall deliver to the Buyer  supplemental  "as-built"  maps of all of the Systems
reflecting the post-Closing  Rebuild of the San Juan System as built, which maps
may be in electronic form.

     7.14 RISK OF LOSS.  The risk of any loss or damage to the  Systems  and the
assets and properties of the Companies resulting from fire, theft,  hurricane or
other casualty (except  reasonable wear and tear) will be borne by the Companies
and the Sellers  prior to the  Closing.  If there is a hurricane  that  involves
material,  long-lasting or permanent  damage to or destruction or degradation of
the Companies' assets or their functionality or any other loss or damage that is
sufficiently  substantial  so as to preclude  and prevent  resumption  of normal
operations  of any material  portion of the  Systems,  the Cable  Venture  shall
promptly  notify the Buyer in writing of that fact and whether the Cable Venture
intends to repair,  replace  and  restore  the lost or damaged  property  to its
former condition (or, if such lost or damaged property had not yet been replaced
or  upgraded  in  connection  with the  Rebuild of the San Juan  System,  to the
condition of such property  contemplated  by the Rebuild of the San Juan System)
as soon as  practicable at its sole expense.  If the Cable Venture  indicates it
will not so repair,  replace and restore the lost or damaged property,  then the
Buyer shall have the right to terminate  this Agreement by giving written notice
thereof to the Cable  Venture  within  thirty  (30) days  after  receipt of such
notice from the Cable Venture. If the Cable Venture agrees to so repair, replace
and restore the lost or damaged property,  then this Agreement shall continue in
full force and effect and the Cable  Venture  shall be  obligated to effect such
repair, replacement and restoration as soon as reasonably practicable; PROVIDED,
HOWEVER,  that if such repair,  replacement or restoration  cannot reasonably be
completed in all material  respects  prior to the Closing,  then (i) the Closing
shall be delayed until such completion in all material respects occurs, and (ii)
at the Buyer's or the Sellers' option the Termination  Date shall be extended to
allow the Cable Venture to complete such repair, replacement or restoration, but
in no event shall the Termination Date be extended by more than one month.

     7.15 ADDITIONAL COVENANTS REGARDING THE COMPANIES.

          (a) COVENANTS RELATING TO FACILITIES AND ENVIRONMENTAL  MATTERS. Prior
to the Closing:

               (i) the Companies  shall have taken the remedial  steps set forth
on SCHEDULE 7.15(a)(I);

               (ii) the Companies  shall have used  reasonabl  efforts to obtain
all material permits and certificates  required under applicable law for the use
and operation of each of the Owned Real Properties and Leased Real Properties as
currently used and operated by the Companies, including, without limitation, (1)
use permits  from the  Regulations  and  Permits  Administration,  (2)  sanitary
licenses from the Department of Health,  (3) certificates of inspection from the
applicable Fire Department, and (4) for those sites for which such permits and

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authorizations  are  required,  air  emissions  source  permits and  underground
injection control permits from the Environmental  Quality Board; for those sites
where  asbestos-containing  materials ("ACM") are present in good condition, the
Company shall use reasonable  efforts to prepare and implement an ACM operations
and  maintenance  (O&M) plan in  accordance  with  Environmental  Quality  Board
requirements;

               (iii) the Companies shall have prepared Spill Prevention  Control
and  Countermeasures  Plans or Emergency Plans as required under  applicable law
with respect to the Owned Real Properties and the Leased Real Properties; and

               (iv) the Companies  shall have taken the remedial steps set forth
on SCHEDULE 7.15(a)(IV).

        (b) COVENANTS  RELATING TO EMPLOYEE BENEFITS PLANS MATTERS. Prior to the
Closing the Companies shall use reasonable commercial efforts to:

               (i)  take  all  steps   necessary  to  ensure  that  formal  plan
documentation  for each  Employee  Benefit  Plan has been  prepared and properly
executed,  that appropriate trustees have been appointed for each plan, and that
the 401(k) Plan for La Union Insular de Trabajadores y Construcciones Electricas
Inc. has been  submitted for and receive a favorable  determination  letter from
the Puerto Rico Treasury;

               (ii)  file  all  outstanding   annual  reports  and  prepare  and
distribute  summary plan  descriptions and summary annual reports as required by
applicable Legal Requirements;

               (iii) complete all discrimination and operational testing that is
required for each Employee Benefit Plan and complete all corrections relating to
any testing failures and late contributions to any Employee Benefit Plan; and

               (iv) formally adopt all relevant Employee Benefit Plans.

        (c) COVENANTS  RELATING   TO   SOFTWARE,   INTELLECTUAL   PROPERTY   AND
PROGRAMMING AGREEMENT MATTERS. Prior to the Closing:

               (i) the  Companies  shall have replaced the  Companies'  existing
TERAYON system, in its entirety, with Motorola replacement equipment that in the
aggregate is equivalent to or better than the TERAYON system being replaced;

               (ii) the Companies shall have completed their  implementation  of
and  transition to the Great Plains  accounting  system (or, if not completed by
the  Closing  Date,  Century  shall  provide to the  Companies  pursuant  to the
Transition  Services Agreement the accounting software currently provided to the
Companies);

               (iii) Century shall have transferred to the Companies,  and shall
have caused its Affiliates  (including,  without  limitation,  Adelphia) to have
transferred  to the Companies,  the Retained  Programming  Agreements  listed on
SCHEDULE 1.1(llll) and shall transfer

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or use  reasonable  efforts to  transfer  to the  Companies  the other  Retained
Programming  Agreements to which such Person is a party as specified on SCHEDULE
7.15(c)(iii); and

               (iv)  Century  shall  have,  and shall  have  caused  each of its
Affiliates  (including,  without limitation,  Adelphia) to have,  transferred or
otherwise conveyed to the Companies (x) all of such Person's rights and interest
in the NEMOS and Powertools  software that are assignable by it without cost and
shall have taken the action set forth on  SCHEDULE  7.15(c)(IV),  and (y) all of
such Person's right, title and interest in and to the name POWERLINK.

        (d) COVENANTS RELATING TO OTHER OPERATIONAL MATTERS. Prior to the
Closing:

               (i) the Companies  shall have taken all steps  necessary to cause
each of them to be in good  standing  in its  state of  organization  and in the
Commonwealth of Puerto Rico;

               (ii) if the Rebuild is completed by the Closing Date, the Sellers
shall  have  assigned  to the  Companies,  and shall have  caused  each of their
respective Affiliates to have assigned to the Companies,  all rights of any such
Person (including, without limitation, rights to enforce performance and to seek
damages or indemnity  for breach of  warranty)  under any contract to which such
Person is a party  relating to the Rebuild of the San Juan System (and,  if not,
the Sellers shall do so promptly after completion of the Rebuild); and

               (iii) Century shall have  transferred to the Companies all of the
books and records  relating to the historic  operations  of the Companies in the
possession  of Century (or  Adelphia)  in  Century's  capacity as manager of the
Systems and, to the extent such books and records are held in  electronic  form,
they  shall  be  transferred  in  electronic  form to the  Companies;  PROVIDED,
HOWEVER,  that  Century  shall be  entitled  to keep  copies  of such  books and
records.

          (e) At the Closing,  the Companies shall have in stock for use (i) not
less than 3,000 cable modems, (ii) not less than 2,000 HDTV/DVR boxes, and (iii)
3,000 digital  converters  that shall not be damaged and awaiting repair (or, if
the total  number of  digital  converters  is at least  3,000 but the  number of
undamaged  converters  is less than  3,000,  the Cash  Purchase  Price  shall be
reduced by an amount equal to $60 for each converter  required to be repaired so
that the number of undamaged converters is 3,000).

          (f) Within 30 days after the Closing Date, the Companies shall deliver
to the Buyer a complete  set of  "as-built"  maps of the portion of the San Juan
System that has been rebuilt as of the Closing Date,  which  "as-built" maps may
be in electronic  form;  PROVIDED  that, if the Completion of the Rebuild of the
San Juan System has occurred  more than 30 days prior to the Closing  Date,  the
Companies shall deliver such "as-built" maps on the Closing Date.

     7.16 NON-SOLICITATION;  NO COMPETITIVE USE OF CONFIDENTIAL INFORMATION.  To
accord to the Buyer  the full  value of its  purchase,  neither  of the  Sellers
shall, and each of the Sellers shall cause their  respective  Affiliates not to,
(i) for a period of two  years  after the  Closing  Date (the  "NON-SOLICITATION
PERIOD"),   directly  or  indirectly,   employ  or  solicit  for  employment  or
consulting,  on its own behalf or on behalf of any other Person,  any individual
who has been an employee of the  Companies  or, after the Closing,  the Buyer at
any time during the period

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(x)  commencing on the date of this Agreement and (y) ending on the final day of
the  Non-Solicitation  Period,  or (ii) use in competition  with the Systems any
Company Confidential Information. The Sellers acknowledge that the remedy at law
for breach of the  provisions of this Section 7.16 will be inadequate  and that,
in addition to any other  remedy the Buyer may have,  it shall be entitled to an
injunction restraining any such breach or threatened breach, without any bond or
other  security  being  required;  if any court  construes  the covenant in this
Section 7.16, or any part thereof,  to be unenforceable  because of its duration
or the area covered thereby,  the court shall reduce the duration or area to the
extent necessary so that the provision, as reduced, shall then be enforceable.

     7.17 FURTHER ACTION REGARDING FINANCIAL STATEMENTS.

          (a) From the date hereof through the Closing,  the Cable Venture shall
deliver to the Buyer,  within 45 business days after the end of each month,  (i)
monthly unaudited  consolidated  balance sheets and statements of income for the
Companies,  and  (ii) a  monthly  reporting  package  including  any  management
discussion and analysis of the financial  condition and results of operations of
the Companies  that is prepared for the board of managers of the Cable  Venture,
the board of directors  of Cable Corp.  and/or the  Sellers.  In  addition,  the
Companies and the Sellers shall deliver the Draft 2004 Financials as promptly as
practicable, but in any event not later than 60 days after the date hereof.

          (b) The Companies and the Sellers  shall use  commercially  reasonable
efforts to deliver to the Buyer,  as promptly as  practicable,  but in any event
not later than August 31, 2005 for the Audited  Financials or September 15, 2005
for the  Interim  Financials,  (1) the  Audited  Financials  and (2) the Interim
Financials  through the second  quarter of 2005  (together  with the  comparable
prior periods, as required),  in each case meeting the requirements (in form and
substance) of Regulation  S-X under the  Securities Act of 1933, as amended (the
"SECURITIES  ACT") in order to be included in a  registration  statement on Form
S-1, assuming such registration  statement is to be filed with the SEC under the
Securities   Act  on  the  Closing  Date   (collectively,   the  "S-1  FINANCIAL
STATEMENTS"), prepared on a basis consistent with the Audited Financials and, in
the case of the audited financial statements,  accompanied by the report thereon
of PWC, the Companies'  independent  certified public accountants,  which report
shall be unqualified except with respect to the bankruptcy of the Cable Venture.
In addition,  the Companies and the Sellers shall deliver to the Buyer drafts of
the Interim  Financials for the first and the second  quarters of 2005 by August
31, 2005.

          (c) The Companies and the Sellers  shall use  commercially  reasonable
efforts to deliver to the Buyer, as promptly as practicable but in any event not
later than  September  15,  2005,  management's  discussion  and analysis of the
financial  condition  and results of  operations of the Companies as required by
Item 303 of Regulation S-K under the Securities Act and selected  financial data
as  required  by Item  301 of  Regulation  S-K,  for  inclusion  in the Form S-1
registration   statement   (which  the  Companies  and  the  Sellers  shall  use
commercially  reasonable  efforts to update by  November  22,  2005 to cover the
Supplemental  Interim  Financials,  if the  Closing  does not occur on or before
November  15,  2005).  The  Companies  and the  Sellers  shall use  commercially
reasonable  efforts to assist the Buyer in preparing other information  relating
to the  Companies  required to be included in any bank  information  memorandum,
offering memorandum or other similar document  ("OFFERING  DOCUMENTS") and shall
provide all

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cooperation  reasonably  necessary in  connection  with the  arrangement  of the
Buyer's   financing  of  the  Cash  Purchase   Price,  in  each  case  including
participation in meetings (including with potential bank lenders), due diligence
sessions, rating agency presentations,  road shows, the drafting of the Offering
Documents  and similar  documents,  and the  drafting  of related  documentation
(including  collateral  documents) and  certificates  (PROVIDED,  HOWEVER,  that
counsel for the Sellers  shall not be required to deliver any legal  opinions in
connection  with the Offering  Documents and the Companies shall not be required
to execute  any  agreements  connected  to the Buyer's  financing  that would be
effective as to the Companies before the Closing).

          (d) The Companies and the Sellers  shall use  commercially  reasonable
efforts  to cause PWC to  perform a SAS 100  review of any  unaudited  financial
statements  (through the second  quarter of 2005)  included in the S-1 Financial
Statements as soon as practicable  but in any event not later than September 15,
2005 and to take such  other  actions  as the Buyer may  reasonably  request  in
connection with Buyer's financing of the Cash Purchase Price, including, but not
limited to: (i) delivering a "comfort letter" in a form meeting the requirements
of SAS 72; (ii) consenting to the use of its report(s) on the audited  financial
statements included in the S-1 Financial Statements; and (iii) participating, at
the  Buyer's  request,  in  the  preparation  of  any  registration   statement,
prospectus or offering  memorandum that includes,  or incorporates by reference,
the S-1 Financial Statements.

          (e) Notwithstanding the foregoing,  in the event that the Closing does
not occur on or before  November  15,  2005,  then:  (i) the  Companies  and the
Sellers shall deliver to the Buyer,  as promptly as practicable but in any event
not later than  November  22,  2005,  the Interim  Financials  through the third
quarter of 2005 (together with the comparable prior periods) (the  "SUPPLEMENTAL
INTERIM  FINANCIALS"),  meeting  the  requirements  (in form and  substance)  of
Regulation  S-X  under  the  Securities  Act  in  order  to  be  included  in  a
registration  statement on Form S-1, assuming such registration  statement is to
be filed with the SEC under the  Securities  Act on the Closing  Date;  (ii) the
Supplemental  Interim  Financials  shall be  included  for all  purposes of this
Agreement in the S-1 Financial  Statements;  (iii) the Companies and the Sellers
shall use  reasonable  efforts  to cause PWC to  perform a SAS 100 review of the
Supplemental  Interim  Financials  as soon as  practicable  but in any event not
later than November 22, 2005;  and (iv) the other  obligations  and covenants of
the  Companies  and the Sellers set forth in Sections  7.17(b)  through  7.17(d)
shall continue with respect to such updated S-1 Financial Statements.

          (f) If, following the Closing,  the Buyer shall be required to deliver
to the SEC additional  financial statements (other than the financial statements
specified  in Section  7.17(b)  and,  if required  to be  delivered  pursuant to
Section 7.17(e),  the Supplemental  Interim Financials)  relating in whole or in
part to any period prior to the Closing,  the Sellers shall use their reasonable
efforts to assist the Buyer in the  preparation of such  supplemental  financial
statements,  including  without  limitation  providing  the  Buyer's  authorized
representatives  with full access at all reasonable times, and in a manner so as
not to interfere  with the normal  business  operations  of the Sellers,  to all
relevant books, records, work papers,  information and employees and auditors of
such Persons,  to the extent necessary in connection with the preparation of any
such supplemental financial statements.

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          (g) The  Sellers  and the  Companies  agree to record  in the  audited
financial  statements  deliverable  pursuant to this  Agreement all  adjustments
proposed  by PWC as part of PWC's  audits  of the  financial  statements  of the
Companies  for the fiscal years ended  December 31, 2002,  December 31, 2003 and
December  31,  2004,  respectively,   regardless  of  the  materiality  of  such
adjustments (either individually or in the aggregate).

     7.18 FINANCING.  The  Buyer  shall diligently and in  good  faith  seek  to
obtain debt  financing in the amount  required to  consummate  the  Transactions
including, but not limited to, timely performing all covenants and agreements of
the Buyer in the  Commitment  Letters.  The Buyer shall keep the  Sellers  fully
informed of any significant developments relating to the proposed debt financing
and shall furnish to the Sellers,  promptly after  receipt,  copies of all final
documents  and shall  notify the  Sellers if the Buyer in good faith  reasonably
believes that financing in the amount  required to consummate  the  Transactions
will not be  available  to the  Buyer,  pursuant  to the  Commitment  Letters or
otherwise.  Any financing  commitment or agreement shall not be subject to a due
diligence  condition,  and any  conditions to the closing of the financing  that
relate to the number of  Equivalent  Subscribers  or Operating  Cash Flow of the
Systems shall be no more stringent than the conditions set forth in Section 9.8.

     7.19 INTERCOMPANY  LIABILITIES.   At  the  Closing,  the  Sellers  and  the
Companies  shall  assign to the  Sellers  Escrow  Account or  another  entity or
otherwise  satisfy from the Sellers  Escrow  Account or pursuant to the Plan all
liabilities  of the  Companies  to the Sellers and their  respective  Affiliates
(other than the Companies) ("AFFILIATE  LIABILITIES"),  such that from and after
the Closing the Buyer shall not have any  Affiliate  Liabilities  owed to either
Seller or their respective Affiliates.

     7.20 SALE OF ML MEDIA'S JOINT VENTURE  INTERESTS.  Unless  and  until  this
Agreement is terminated in accordance with the terms hereof,  ML Media shall not
sell,  assign or otherwise  transfer or dispose of, directly or indirectly,  (a)
its joint venture  interests in the Cable Venture (the "ML JV INTERESTS") or (b)
any  right to  exercise  any vote with  respect  to or in  respect  of the ML JV
Interests to any Person other than the Buyer.

     7.21 RELEASE OF OBLIGATIONS UNDER LETTERS OF CREDIT. No less than  30  days
prior to the reasonably  anticipated  date of the Closing,  the Companies  shall
deliver to the Buyer a revised version of SCHEDULE 4.6(e) (the "REVISED SCHEDULE
4.6(e)"),  listing the Companies'  open letters of credit and surety bonds as of
the Closing Date and specifying the remaining term and amount of such letters of
credit or surety  bonds;  PROVIDED  that the REVISED  SCHEDULE  4.6(e) shall not
reflect an increase in the aggregate amount due under all such letters of credit
and surety bonds of more than $100,000  over the aggregate  amount due reflected
on SCHEDULE 4.6(e). Subject to the foregoing,  at Closing, the Buyer shall cause
to be  delivered  to the  issuing  institution  under such  letters of credit or
surety  bonds,  letters of credit or surety  bonds  with terms and  availability
equivalent to the letters of credit or surety bonds  outstanding  on the Closing
Date.

     7.22 STAND-ALONE. The Companies shall use reasonable commercial  efforts to
take the actions set forth on SCHEDULE  7.22 to enable the  Companies to operate
as  stand-alone  entities  (without  requiring  any  products or  services  from
Adelphia or Century) as of the Closing Date or as soon as practicable  after the
Closing Date (a "STAND-ALONE").  The Companies shall consult with the Buyer, and
the  Companies and the Buyer shall  cooperate,  to effect the  Stand-Alone  on a

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timely,  cost-efficient  basis.  Any individual  expenditure by the Companies to
effect the Stand-Alone in excess of $50,000 or aggregate  expenses to effect the
Stand-Alone  in excess of  $1,500,000  shall  require the approval of the Buyer,
such approval not to be unreasonably withheld, and if the Buyer fails to approve
any  such  expenditure,  the  Companies  shall  not be  required  to  make  such
expenditure  or provide the  Stand-Alone  capability  of that  expenditure.  Any
one-time  expenses  incurred by the  Companies  to effect the  Stand-Alone  that
require the  approval of the Buyer,  but for which  approval  was not  obtained,
shall, if otherwise  deducted in calculating  Operating Cash Flow, be added back
to Operating Cash Flow but shall not be added back in  calculating  Closing Date
Working Capital. Any on-going expenses incurred by the Companies in operating as
a Stand-Alone that require the approval of the Buyer, but for which approval was
not obtained, shall not be added back in calculating Operating Cash Flow.

     7.23 PUBLICITY. No party shall make any public announcement  regarding  the
Transactions without the consent of the others,  except as a party determines is
required by  applicable  laws.  If a party  determines  it is required to make a
public announcement, that party shall give the others as much prior notice as is
reasonably  practicable and shall consult with the others about the text of such
announcement.

     7.24 RECORDATION OF LEASES.  The Buyer  and  the  Companies  shall  jointly
determine  which,  if any, of the  Companies'  real  property  leases  should be
recorded,  and the Companies shall use reasonable  commercial  efforts to record
any such lease prior to the Closing.

            8.   CONDITIONS PRECEDENT TO THE PARTIES' OBLIGATIONS

            The obligations of the parties hereto to consummate the Transactions
are subject to the satisfaction or waiver, at or prior to the Closing Date, of
the following conditions:

     8.1 CONSENTS FROM  GOVERNMENTAL  AUTHORITIES.  All  necessary  notification
filings  required  under the HSR Act shall  have been made with the FTC and DOJ,
the prescribed  waiting periods (and any extensions  thereof) shall have expired
or been terminated.

     8.2 JUDGMENTS. There shall be no  injunction  or  court  order  restraining
consummation  of any of the  Transactions  and there shall not have been adopted
any law or regulation making all or any portion of such transactions illegal.

     8.3 CONFIRMATION ORDER. The Confirmation Order shall have been  entered  on
the docket of the Bankruptcy Court and shall have become a Final Order.

            9.    CONDITIONS PRECEDENT TO BUYER'S OBLIGATIONS

            The obligations of  the Buyer to  consummate  the  Transactions  are
subject to the satisfaction or  waiver, at  or prior to the Closing Date, of the
following conditions:

     9.1 REPRESENTATIONS  AND   WARRANTIES   OF   COMPANIES   AND  SELLERS.  The
representations  and  warranties  of the  Companies and the Sellers set forth in
this  Agreement  shall be true and correct in all respects on and as of the date
hereof and as of the Closing  Date as if made on and as of such date or, if made
as of a specific  date,  as of such date;  PROVIDED,  that for  purposes of this
Section  9.1,  such  representations  and  warranties  shall be deemed  true and
correct in all

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respects to the extent that, after removing  concepts of Material Adverse Effect
or materiality  from all such individual  representations  and  warranties,  the
aggregate effect of any inaccuracies in all such  representations and warranties
as of the  applicable  times does not and would not reasonably be expected to be
material to the  Companies  taken as a whole;  but PROVIDED,  FURTHER,  that the
foregoing proviso shall not apply to the representations and warranties relating
to the capitalization of the Companies set forth in Section 4.1.

     9.2 COVENANTS. The Sellers and  the  Companies  shall  have  performed  and
complied in all material respects with all covenants and agreements  required by
this  Agreement  to be  performed  or  complied  with by them prior to or at the
Closing.

     9.3 MATERIAL CONSENTS. The Material Consents and the consent set  forth  on
SCHEDULE 5.2(C) shall have been obtained without any material  condition adverse
to the Buyer,  except as the parties  may  otherwise  agree,  and in the case of
Material  Consents from the FCC and the Puerto Rico Board by final resolution of
the FCC and the Puerto Rico Board;  PROVIDED,  HOWEVER, that the Buyer may waive
the requirement  that Puerto Rico Board  authority be given by final  resolution
following approval of this transaction by the FCC.

     9.4 DELIVERY OF CERTIFICATES AND DOCUMENTS. The Cable  Venture  shall  have
delivered or caused to be delivered to  the  Buyer  (or  such  other  Person  as
applicable) the following:

          (a) a certificate of an officer of the Cable Venture  certifying  that
the conditions set forth in Sections 9.1, 9.2, 9.3, 9.7 and 9.8 have been met;

          (b) a copy of the  Confirmation  Order referred to in Section  7.11(b)
(ii) and of any other Order required for the Transactions to be consummated;

          (c) a fully-executed  copy of the Transition Services Agreement by and
among Parent, the Buyer and Century;

          (d) evidence of the payment of all retention and sale bonuses  payable
by the Companies as of the Closing Date;

          (e) an affidavit, under penalties of perjury, stating that Cable Corp.
is not and has not been a United States real property holding corporation, dated
as of the  Closing  Date  and in form  and  substance  required  under  Treasury
Regulation  ss.  1.897-2(h)  so that the Buyer is exempt  from  withholding  any
portion of the Purchase Price thereunder; and

          (f) such other documents,  certificates or agreements as the Buyer may
reasonably request.

     9.5 ESCROW AGREEMENT. The Escrow Agreement shall have been executed by  the
Escrow Agent and the Sellers.

     9.6   FINANCIAL STATEMENTS

          (a) SCHEDULE  9.6(A)  shall have set forth,  for the fiscal year ended
December 31, 2004, a list of expenses (by categories and amounts) that have been
allocated to

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the  Companies  by  Century  or ML Media or any of their  respective  Affiliates
(including,  without  limitation,  the Management Fee and expenses arising under
the  Programming  Agreements)  (the  "ALLOCATIONS")  for such  fiscal  year (the
"ALLOCATION SCHEDULE"), as reflected in the Unaudited Financials.  The Companies
shall  provide  notice to the Buyer if there is any  change  in the  methods  of
determining  the  Allocations  or the products or services  included  within the
Allocation from that set forth on SCHEDULE 9.6(a).

          (b) The unaudited  consolidated balance sheet, statement of operations
and  statement  of cash flows as of and for the year ended  December  31,  2004,
including  the notes  thereto,  to be provided to the Buyer prior to the Closing
pursuant to Section 7.17(a) (the "DRAFT 2004 FINANCIALS"),  shall have presented
fairly the financial  condition of the Companies as of such date and the results
of operations and cash flows of the Companies for the periods  therein  referred
to, in conformity with GAAP applied consistently  throughout the periods covered
thereby,  and  the  accounting  principles  used in  preparing  the  Draft  2004
Financials shall have been the same as the Reference Accounting Principles,  and
the  methodology  for the Allocations to the Companies for the fiscal year ended
December  31, 2004 shall not have  differed  in any  material  respect  from the
methodology for the Allocations set forth on the applicable Allocation Schedule.

          (c) The Cable Venture shall have  furnished the Buyer with the Audited
Financials  for the fiscal  years ended  December 31, 2002 and December 31, 2003
conforming  to the  requirements  of Section  4.3(b),  together  with the report
thereon of PWC, the Companies'  independent certified public accountants,  which
report shall be  unqualified  except with respect to the bankruptcy of the Cable
Venture, not later than August 31, 2005. Taking into account both the line items
reflected on the face of the financial statements and the information  disclosed
in the footnotes to the financial  statements,  the Audited  Financials  for the
fiscal year ended  December 31, 2003,  as compared to the  Unaudited  Historical
Financials  for the  same  fiscal  year,  shall  not  reflect  (i) any  material
reduction in Current Assets  (excluding cash) or Total Assets  (excluding cash),
or any material increase in Current Liabilities or Total Liabilities (other than
Transferred  Assets or Excluded  Liabilities),  in each case as set forth on the
corresponding balance sheet as of December 31, 2003, (ii) any material reduction
in Net Revenues,  Net Income,  or Operating Cash Flow (in the case of "Operating
Cash  Flow" as such term is defined in this  Agreement  and is derived  from the
Audited Financials and the Unaudited Historical  Financials,  as applicable,  in
accordance  with  such  definition),  in each case  individually  (and not on an
aggregated basis) as reflected in the corresponding  statement of operations for
the fiscal year ended  December 31, 2003,  or (iii) any change or changes to the
line items reflected on the face of the financial  statements or the information
disclosed in the  footnotes to such  financial  statements  (including,  without
limitation,  any changes to any of the specific items  identified in clauses (i)
or (ii)),  which,  individually  or in the  aggregate,  result in any  material,
adverse  change  in the  amount,  composition  or terms of debt  financing  made
available  to the Buyer by its lenders (as  compared to the amount,  composition
and terms set forth in the Commitment Letters).

          (d) The Cable  Venture  shall have  furnished the Buyer with the Draft
2004 Financials as promptly as  practicable,  but in any event not later than 60
days after the date hereof. Taking into account both the line items reflected on
the  face of the  financial  statements  and the  information  disclosed  in the
footnotes to the financial statements, the Draft 2004 Financials, as compared to
the Unaudited 2004 Financials, shall not reflect (i) any material

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reduction in Current Assets  (excluding cash) or Total Assets  (excluding cash),
or any material increase in Current Liabilities or Total Liabilities (other than
Transferred  Assets or Excluded  Liabilities),  in each case as set forth on the
corresponding balance sheet as of December 31, 2004, (ii) any material reduction
in Net  Revenues,  Net Income or Operating  Cash Flow (in the case of "Operating
Cash  Flow" as such term is defined in this  Agreement  and is derived  from the
Draft 2004  Financials and the Unaudited  2004  Financials,  as  applicable,  in
accordance  with  such  definition),  in each case  individually  (and not on an
aggregated basis) as reflected in the corresponding  statement of operations for
the fiscal year ended  December 31, 2004,  or (iii) any change or changes to the
line items reflected on the face of the financial  statements or the information
disclosed in the  footnotes to such  financial  statements  (including,  without
limitation,  any changes to any of the specific items  identified in clauses (i)
or (ii)),  which,  individually  or in the  aggregate,  result in any  material,
adverse  change  in the  amount,  composition  or terms of debt  financing  made
available  to the Buyer by its lenders (as  compared to the amount,  composition
and terms set forth in the Commitment Letters).

          (e) The Cable  Venture  shall have  furnished  the Buyer with  audited
financials  as of and for the year ended  December 31, 2004 (the  "AUDITED  2004
FINANCIALS"),  conforming to the  requirements of Section 4.3(b),  together with
the  report  thereon  of  PWC,  the  Companies'   independent  certified  public
accountants,  which  report  shall be  unqualified  except  with  respect to the
bankruptcy  of the Cable  Venture,  not later than August 31, 2005.  Taking into
account both the line items  reflected on the face of the  financial  statements
and the information disclosed in the footnotes to the financial statements,  the
Audited 2004  Financials,  as compared to (x) Unaudited 2004  Financials and (y)
the Draft 2004  Financials,  shall not reflect  (i) any  material  reduction  in
Current Assets (excluding cash) or Total Assets (excluding cash) or any material
increase in Current  Liabilities or Total  Liabilities  (other than  Transferred
Assets or Excluded Liabilities),  in each case as set forth on the corresponding
balance  sheet as of December  31,  2004,  (ii) any  material  reduction  in Net
Revenues,  Net Income or  Operating  Cash Flow (in the case of  "Operating  Cash
Flow" as such term is defined in this  Agreement and is derived from the Audited
2004 Financials and the Draft 2004 Financials, as applicable, in accordance with
such definition),  in each case individually (and not on an aggregated basis) as
reflected in the corresponding statement of operations for the fiscal year ended
December 31, 2004 or (iii) any change or changes to the line items  reflected on
the  face  of the  financial  statements  or the  information  disclosed  in the
footnotes to such  financial  statements  (including,  without  limitation,  any
changes to any of the specific items  identified in clauses (i) or (ii),  which,
individually or in the aggregate,  result in any material, adverse change in the
amount,  composition  or terms of debt  financing made available to the Buyer by
its lenders (as compared to the amount,  composition  and terms set forth in the
Commitment Letters).

          (f) All financial  statements  delivered  pursuant to this Section 9.6
that are referred to in Section 7.17 shall have complied  with all  requirements
of Section 7.17.

          (g) The increase in the  percentage  Management Fee payable to Century
accrued  during  the  period  January  1, 2002  through  May 31,  2003  shall be
disregarded in making all determinations  pursuant to Section 7.17(b),  (c), (d)
and (e).

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          (h) The Buyer may only assert the condition contained in this  Section
9.6 or the corresponding  termination  right in Section  12.1(j)(3) if the Buyer
provides  the  Sellers a written  notice (i) within 60 days after the receipt of
the Draft 2004  Financials,  if the Draft 2004  Financials  fail to comply  with
Section  7.17 or this  Section  9.6, or (ii) within 60 days after the receipt of
all of the Audited  Financials,  if any of the Audited Financials fail to comply
with  Section  7.17  or  this  Section  9.6,  indicating  in  either  case  with
specificity  the  basis  on which it  intends  to  assert  the  failure  of this
condition.

     9.7 MATERIAL ADVERSE CHANGE. Since the date of this Agreement, there  shall
not have  occurred  any  fact,  change  or event  that,  individually  or in the
aggregate,  has had or reasonably  would be expected to have a Material  Adverse
Effect.

     9.8 SUBSCRIBERS; OPERATING CASH FLOW.  Neither  the  number  of  Equivalent
Subscribers as of the Previous Month End nor  the estimated number of Equivalent
Subscribers as of the Closing Date shall be  less than 129,482 and the Operating
Cash Flow of the Systems as  of  the  Previous  Month End shall not be less than
$50,000,000.

     9.9 FINANCING.  The Buyer shall have received (or shall have  the right  to
receive) proceeds of debt financing of at least  $350,000,000  (less the amount,
if any, of any reduction in the Purchase Price pursuant to Section  3.3(c)),  on
terms and conditions  reasonably  satisfactory  to the Buyer (the Buyer agreeing
that terms and conditions not materially  less favorable to the Buyer than those
set forth in the Debt Commitment Letter shall be deemed reasonably  satisfactory
to the Buyer).

     9.10 CONFIRMATION ORDER.  The  Confirmation  Order  shall  conform  to  the
requirements  of  Section  7.11(b)  of this  Agreement.  The  Assumed  Executory
Contracts  shall have been  assumed by the Cable  Venture  such that the Assumed
Executory  Contracts will be in full force and effect from and after the Closing
with all cure costs paid by the Cable Venture and all  non-debtor  parties being
barred and  enjoined  from  asserting  against the Buyer,  among  other  things,
defaults,  breaches or Claims of pecuniary  losses existing as of the Closing or
by reason of the Closing.

     9.11 PAYMENT MOTION. An Order granting that certain Motion of Debtor for an
Order  Pursuant  to  Bankruptcy  Code  ss.105  Authorizing   Payment  of  Agreed
Pre-Petition Claims of Non-Inside Creditors,  dated January 11, 2005, shall have
been entered on the docket of the Bankruptcy Court and shall have become a Final
Order. The Cable Venture shall have made full, final and indefeasible payment of
all claims contemplated to be paid pursuant to the terms of such motion.

     9.12 EXTENSION OF REBUILD DEADLINE.   The  Puerto  Rico  Board  shall  have
extended the deadline for  Completion of the Rebuild of the San Juan System to a
date not earlier than the Rebuild Extension Date.

     9.13 FRANCHISE EXTENSIONS.  The  Puerto  Rico Board shall have granted the
Franchise Extensions with no changes to the terms  of  the Franchises except as
contemplated by Section 7.4(f).

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            10.   CONDITIONS PRECEDENT TO COMPANIES' AND SELLERS' OBLIGATIONS

          The  obligations  of the Companies  and the Sellers to consummate  the
Transactions  are  subject to the  satisfaction  or  waiver,  at or prior to the
Closing Date, of the following conditions:

     10.1 REPRESENTATIONS AND  WARRANTIES  OF  BUYER.  The  representations  and
warranties  of the Buyer set forth in this  Agreement  that are  qualified as to
materiality shall be true and correct, and those that are not so qualified shall
be true and correct in all material  respects,  on and as of the date hereof and
as of the  Closing  Date as if made on and as of each such date or, if made only
as of a specific date, as of such date.

     10.2 COVENANTS. The Buyer shall have performed and complied in all material
respects  with  all  covenants  and  agreements required by this Agreement to be
performed or complied with by them prior to or at the Closing.

     10.3 MATERIAL CONSENTS.  The Material Consents from the FCC and the  Puerto
Rico Board and the consent set forth on SCHEDULE 5.2(C) shall have been obtained
without any material condition adverse to the Sellers, except as the parties may
otherwise agree.

     10.4 DELIVERY OF CERTIFICATES AND DOCUMENTS. The Buyer shall have delivered
or caused to be delivered to the  Cable  Venture (or  to  such  other  Person as
applicable) the following:

          (a)  a  certificate  of  an  officer  of  the  Buyer  as  to  (i)  the
organizational  documents of the Buyer,  (ii) all actions taken by and on behalf
of the Buyer to  authorize  the  execution,  delivery  and  performance  of this
Agreement  and the  Related  Agreements  and (iii) the  incumbency  of  officers
signing this Agreement and any Related Agreement on behalf of the Buyer;

          (b) a  certificate  of an officer of each  Buyer  certifying  that the
conditions set forth in Sections 10.1 and 10.2 have been met;

          (c) the payments pursuant to Section 3.2(c)(i) and pursuant to Section
3.2(c)(ii); and

          (d) the Investor Guaranty.

     10.5  ESCROW  AGREEMENT.  The Escrow  Agreement  shall have   been executed
by the Escrow Agent and the Buyer.

              11.   SURVIVAL OF REPRESENTATIONS, WARRANTIES AND COVENANTS;
                    INDEMNIFICATION

     11.1 SURVIVAL    OF   REPRESENTATIONS,   WARRANTIES   AND   COVENANTS.  The
representations,  warranties and certifications of the parties contained in this
Agreement or in any certificate delivered pursuant to Sections 9.4(a) or 10.3(b)
and any claim with respect to any failure to perform any covenant  shall survive
the  Closing  for  a  period   ending  on  December  31,  2006.   No

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claim for  indemnification  for breach of a  representation  or  warranty or any
covenant,  agreement or obligation  may be asserted  after the expiration of the
applicable  survival  period  for such  representation,  warranty  or  covenant;
PROVIDED,  that the written  assertion of any claim by a party  against  another
party   hereunder   with  respect  to  the  breach  or  alleged  breach  of  any
representation, warranty or any covenant, agreement or obligation or of a series
of facts which would  support such breach,  which claim shall  include  specific
assertions as to the underlying facts supporting the claim as opposed to general
assertions of a breach,  shall extend the applicable survival period through the
date such claim is conclusively resolved.  None of the foregoing shall be deemed
to affect the obligations of the parties to perform their respective obligations
under Sections 7.1, 7.5, 7.6, 7.7, 7.8, 7.13, 7.16 and 7.17 that are required to
be performed after the Closing Date.

     11.2  INDEMNIFICATION.

          (a)  INDEMNIFICATION BY THE BUYER.  Subject to the limitations in this
Section  11,  the Buyer  agrees  to  indemnify,  defend  and hold  harmless  the
Companies  (and after the  Closing,  the  Sellers)  from and against any and all
loss, Liability, damage or expense, but excluding any consequential or exemplary
damages,  (collectively,  "Losses")  to the extent  such  Losses are based upon,
arise out of or are related to:

               (i) a breach  of any  representation  or  warranty  of the  Buyer
contained in this Agreement;

               (ii) any  failure of the Buyer to  perform or comply  with any of
the  covenants,  agreements  or  obligations  of the  Buyer  set  forth  in this
Agreement or in any Related Agreement; or

               (iii) any  Liability to any broker or finder  retained or alleged
to have been  retained by the Buyer in  connection  with this  Agreement  or the
Transactions.

          (b) INDEMNIFICATION BY THE SELLERS. Subject to the limitations in this
Section 11, the Sellers  jointly and severally  agree to  indemnify,  defend and
hold  harmless the Buyer Group from and against any and all Losses to the extent
such Losses are based upon, arise out of or are related to:

               (i) a breach of any  representation  or  warranty  (after  giving
effect to any  materiality  or Material  Adverse  Effect  qualification)  of the
Sellers  or the  Companies  contained  in this  Agreement;  PROVIDED  that,  for
purposes of this Section 11.2(b),  if there is a breach of any representation or
warranty  (after giving effect to any  materiality  or Material  Adverse  Effect
qualification)  then the  determination  of the Losses  upon such  breach of any
representation  or warranty shall be made without  regard to any  materiality or
Material Adverse Effect  qualification  contained therein;  and PROVIDED FURTHER
that, for purposes of the foregoing  proviso only,  any Material  Adverse Effect
qualification  contained in any  representation  or warranty in Section  4.8(b),
Section 4.8(c) and Section  4.17(e) only shall not be given effect,  but instead
such  representation  or  warranty  shall  instead be  interpreted  as though it
contained a materiality qualification;

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               (ii) any  failure of the Sellers or the  Companies  to perform or
comply with any of the  covenants,  agreements or  obligations of the Sellers or
the Companies  contained in this  Agreement or in any Related  Agreement  (other
than Section 7.15(b), which is covered by clause (vi) below);

               (iii) any Excluded Liabilities;

               (iv) any Liability to any broker or finder retained or alleged to
have been  retained by the  Companies  (except as  reflected  as a Closing  Date
Current Liability in the final determination of Closing Date Working Capital) or
either of the Sellers in connection with this Agreement or the Transactions;

               (v) any Indemnified Tax Liability; or

               (vi) the failure to obtain a favorable  determination letter from
the Puerto Rico Treasury for La Union  Insular de  Trabajadores  Industriales  y
Construcciones  Electricas Inc. 401(k) Plan or to successfully complete prior to
the Closing Date any of the other actions set forth in Section 7.15(b).

     11.3  ASSERTION OF CLAIMS; NOTICE OF AND RIGHT TO DEFEND THIRD PARTY
           CLAIMS.

          (a) If any third  party  notifies  any party (the  "INDEMNITEE")  with
respect to any matter (a "THIRD-PARTY  CLAIM") that may give rise to a claim for
indemnification  against any other party (the "INDEMNITOR")  under Section 11.2,
then the  Indemnitee  shall promptly  notify the Indemnitor  thereof in writing;
PROVIDED,  HOWEVER, that no delay on the part of the Indemnitee in notifying the
Indemnitor  shall relieve the Indemnitor  from any obligation  hereunder  unless
(and then solely to the extent) the Indemnitor is thereby prejudiced.

          (b) Any  Indemnitor  will  have the  right to  defend  the  Indemnitee
against the Third-Party Claim with counsel of his, her, or its choice reasonably
satisfactory  to the  Indemnitee  so  long as (i) the  Indemnitor  assumes  such
defense on a timely basis,  (ii) the  Indemnitor  provides the  Indemnitee  with
evidence  reasonably  acceptable to the Indemnitee that the Indemnitor will have
the financial  resources to defend against the Third-Party Claim and fulfill its
indemnification  obligations  hereunder,  (iii) the  Third-Party  Claim involves
money  damages  only and does not seek an  injunction,  and (iv) the  Indemnitor
conducts the defense of the Third-Party Claim actively and diligently.

          (c) So long as the  Indemnitor is conducting the defense of the Third-
Party Claim in accordance  with Section  11.3(b)  above,  (i) the Indemnitee may
retain  separate  co-counsel  at his,  her,  or its sole  cost and  expense  and
participate  in the  defense  of the  Third-Party  Claim,  PROVIDED  that if the
defendants  in any  Third  Party  Claim  include  both  the  Indemnitor  and the
Indemnitee, and the Indemnitee shall have reasonably concluded that there may be
legal defenses available to it that are different from,  inconsistent with or in
addition  to  those  defenses  available  to the  Indemnitor,  or if  there is a
conflict of interest that would  prevent  counsel for the  Indemnitor  from also
representing the Indemnitee,  then the Indemnitee shall have the right to engage
a single separate  counsel at the cost and expense of the  Indemnitor,  (ii) the
Indemnitee  will not  consent to the entry of any  judgment on or enter into any
settlement  with  respect to the  Third-Party  Claim  without the prior  written
consent  of the  Indemnitor  (not to be  unreasonably  withheld),  and (iii) the
Indemnitor  will not  consent to the entry of any  judgment on or enter into any
settlement  with  respect to the  Third-Party  Claim  without the prior  written
consent of the Indemnitee (not to be unreasonably

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withheld)  unless such settlement  involves only the payment of money damages by
the Indemnitor and does not impose an injunction or other equitable  relief upon
the Indemnitee. If the Indemnitor does not timely assume and conduct the defense
of the  Third-Party  Claim,  or at any time ceases to do so, then the Indemnitee
may thereafter assume the defense of the Third-Party Claim with a single counsel
of his, her or its choice at the cost and expense of the Indemnitor.

          (d)  Notwithstanding   anything  to  the  contrary  in  the  foregoing
provisions of this Section 11.3,  with respect to a Third Party Claim in respect
of Taxes, including any audit or examination by a Taxing Authority, the Sellers,
on the one hand, and the Buyer,  on the other hand,  shall not,  unless with the
prior  written  consent of the other  party:  (i) agree or consent to,  approve,
permit or  otherwise  acquiesce in the  extension of any statute of  limitations
applicable  to the  assessment of any  deficiency  with respect to any Tax paid,
payable or alleged to be payable by the  Companies  or the Buyer that relates to
any period prior to the Closing;  and (ii) agree to adjust an item of any of the
Companies for any Tax period (or portion  thereof) ending on the Closing Date or
any Pre-Closing Tax Straddle Period to the extent such adjustment  would require
an  adjustment  to an item  of any of the  Companies  or the  Buyer  that  could
reasonably  be expected to result in an  increase  in the Tax  Liability  of the
other party or its Affiliates for such Tax period or any Tax period beginning on
or following the Closing Date.

          (e) Any  claim by an  Indemnitee  on  account  of a Loss that does not
result  from a  Third-Party  Claim will be  asserted  by giving  the  Indemnitor
reasonably prompt written notice thereof,  describing such claim with reasonable
particularity  and containing a reference to the  provision(s) of this Agreement
under which such claim has arisen;  PROVIDED,  that the failure of an Indemnitee
to so notify promptly any Indemnitor  shall not relieve such Indemnitor from any
Liability  which it may have to the Indemnitee in connection  therewith,  unless
(and then solely to the extent) such Indemnitor  actually has been prejudiced by
such  failure  to give  notice.  The  Indemnitor  will  have a period of 60 days
following  its receipt of such notice within which to respond in writing to such
claim.  If the  Indemnitor  does not so respond  within such 60 day period,  the
Indemnitor  will be deemed  to have  rejected  such  claim,  in which  event the
Indemnitee  will be free to pursue  such  remedies  as may be  available  to the
Indemnitee on the terms and subject to the provisions of this Agreement.

          (f) Where the  indemnification  is provided from the Indemnity  Escrow
Account, all rights of the Indemnitor shall be exercised by the Sellers.

          (g) A claim for  indemnification  for any  Indemnified  Tax  Liability
against  the  Deferred  Purchase  Price may be  asserted  by the Buyer only if a
Taxing  Authority  has asserted a claim for Tax, or if the Buyer has  reasonably
determined  in good  faith that there is a  significant  risk of a material  Tax
Liability.  A claim for indemnification  shall be payable to the Buyer only upon
(i) final determination by a Taxing Authority,  (ii) agreement between the Buyer
and the Sellers or (iii) the  determination  by the Independent  Accountant with
respect to a Tax  Return in  question  as  described  in Section  7.5(a) and the
filing by the Buyer of the amended Tax Return as  described  therein.  Any claim
for Indemnified Tax Liability asserted by the Buyer may include  deficiencies in
previously asserted claims. All Tax claims shall be deemed finally determined by

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a Taxing  Authority  upon  final  assessment  (no  longer  subject  to review or
appeal), closing agreement or similar document with the Taxing Authority. If the
Sellers dispute that there is a significant risk of material Tax Liability,  the
parties shall refer the dispute in question to the  Independent  Accountants who
shall,  in  accordance  with the  procedures  set forth in  Section  3.4(b)(ii),
determine  whether or not the Buyer's claim corresponds to a significant risk of
a material Tax Liability as required  herein.  In the event that the Independent
Accountants   determine  that  the  Buyer's  claim  does  not  correspond  to  a
significant  risk of a material Tax  Liability,  then the claim shall be treated
under this Agreement as if it had not been made by the Buyer,  although, for the
avoidance of doubt,  if the claim is later  asserted by a Taxing  Authority then
this treatment  shall cease to apply.  Any claim for  Indemnified  Tax Liability
asserted  by the Buyer  with which the  Sellers  agree or as  determined  by the
Independent  Accountants  shall  permit the Buyer to holdback  from the Deferred
Purchase Price the amount associated with such claim but shall not be payable to
the  Buyer  until  (i) the  final  determination  by a  Taxing  Authority,  (ii)
agreement  between  the Buyer and the  Sellers,  or (iii)  determination  by the
Independent  Accountant with respect to a Tax Return in question as described in
Section 7.5(a).

     11.4  LIMITATIONS ON LIABILITY.

          (a) BASKET.  No party shall be required to  indemnify  any other party
pursuant to Section  11.2(a)(i)  or Section  11.2(b)(i)  with  respect to Losses
arising from a breach of any  representation  or warranty,  unless the aggregate
amount of all such Losses in respect of such party's breaches of representations
and warranties  exceeds an amount equal to $2,600,000) (the "BASKET"),  in which
event the  indemnifying  party shall be liable for the Losses  above the Basket;
PROVIDED that, to the extent that any claim for  indemnification  by the Sellers
pursuant to Section  11.2(a)(iii)  (Broker's  Fees) or by the Buyer  pursuant to
Section  11.2(b)(iii)  (Excluded  Liabilities),  Section  11.2(b)(iv)  (Brokers'
Fees),  Section 11.2(b)(v)  (Indemnified Tax Liabilities) or Section 11.2(b)(vi)
(Section  7.15(b)  Covenants)  may also be  construed  as a claim under  Section
11.2(a)(i) or Section 11.2(b)(i), as applicable,  the parties hereto acknowledge
and  agree  that  such  claim  shall be deemed  for all  purposes  to be a claim
pursuant to Section  11.2(a)(iii),  Section  11.2(b)(iii),  Section 11.2(b)(iv),
Section 11.2(b)(v) or Section 11.2(b)(vi),  as applicable,  and the Basket shall
not apply  thereto and PROVIDED,  FURTHER,  that the Basket shall not apply to a
breach of the  representation in Section 4.12(g).  No party shall be entitled to
indemnity to the extent the Loss has been  reflected in the  computation  of the
Closing Date Working Capital or the other adjustments to the Purchase Price.

          (b)  CAP.   The   liability   of  the  Sellers  for  breaches  of  any
representations  and warranties and covenants,  agreements and obligations under
this Agreement or any other  indemnifiable  claim under this Agreement  shall be
limited to Losses not  exceeding the  aggregate  amount in the Indemnity  Escrow
Account (originally $25,000,000 and reduced as provided in the Escrow Agreement)
and, in the case of Indemnified  Tax  Liabilities,  set off against the Deferred
Purchase  Price  and  shall  be  satisfied  solely  from the  funds  held in the
Indemnity  Escrow Account (or such  set-off),  and the Buyer shall have no other
recourse  against  ML Media or  Century  or any of  their  respective  partners,
officers,  directors or shareholders with respect to such indemnity  obligations
or  otherwise  arising  under  this  Agreement,  except as  provided  in Section
11.6(b);  PROVIDED that the Sellers acknowledge and agree that the limitation on
liability  set forth in this  Section  11.4(b)  shall not apply with  respect to
claims of the Buyer pursuant to Section 11.2(b)(iii).

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          (c) To the extent that the indemnified  party  recognizes Tax Benefits
(as defined  below) with  respect to any taxable  year as a result of any claim,
the  indemnified  party  shall pay the amount of such Tax  Benefits  (but not in
excess of the  indemnification  payment or payments  actually  received from the
indemnifying party with respect to such claim) to the indemnifying party as such
Tax Benefits are actually recognized by the indemnified party. For this purpose,
an indemnified  party shall be deemed to recognize a tax benefit ("TAX BENEFIT")
with  respect  to a taxable  year if, and to the extent  that,  the  indemnified
party's  liability for Taxes for such taxable year,  calculated by excluding any
Tax items  attributable  to the claim,  exceeds the  indemnified  party's actual
liability for Taxes for such taxable year, calculated by taking into account any
Tax items attributable to the claim (to the extent permitted by relevant Tax law
and treating such Tax items as the last items claimed for any taxable year).

          (d) None of the Cable Venture,  Cable Corp., ML Media or Century shall
have any  Liability  to the Buyer  under  this  Agreement  or  otherwise  if the
Bankruptcy  Court  does not enter the  Confirmation  Order,  except  for (i) the
obligation  to pay the Expense  Reimbursement  and/or the  Break-Up  Fee, as set
forth in Section  7.11(c)(iv)  and (ii) as  applicable,  the  obligations of the
Cable  Venture to  reimburse  the  Buyer's  expenses  under (and  subject to the
conditions contained in) the Expense Reimbursement Agreement.

          (e) Any  payment  pursuant  to this  Section 11 shall be treated as an
adjustment to the Purchase Price.

     11.5 INDEMNIFIED TAX LIABILITIES. Any liability of the Sellers pursuant  to
Section  11.2(b)(v)  of this  Agreement  shall first be  satisfied  by an offset
against the Deferred Purchase Price and then from the Indemnity Escrow Account.

     11.6 EXCLUSIVE REMEDY. After  the  Closing,  the  parties  agree  that  the
indemnification  provisions  of this Section 11 and the amount in the  Indemnity
Escrow Account and the Buyer's offset right against the Deferred  Purchase Price
(which   amounts  do  not  limit  claims  of  the  Buyer   pursuant  to  Section
11.2(b)(iii))  shall  constitute  the parties'  sole and  exclusive  remedies in
respect of any breach or breaches  of any  representation,  warranty,  covenant,
agreement or obligation  set forth in this  Agreement;  PROVIDED,  that (a) this
Section  11.6 shall not be deemed a waiver by any party of any right to specific
performance or injunctive relief (including,  without  limitation,  the right of
the Buyer to seek  injunctive  relief pursuant to the terms of Section 7.16) and
(b) nothing in this Agreement  shall  prohibit or limit any remedy  available at
law or in equity for any fraud committed or made by any party in connection with
the Transactions.

     11.7 NO THIRD PARTY BENEFICIARIES. Neither this Section 11  nor  any  other
provision of this  Agreement  is intended to confer any third party  beneficiary
rights, including but not limited to any extension of any statute of limitations
pertaining to suits, actions or proceedings brought by third parties.

          12.   TERMINATION

     12.1  TERMINATION.  This  Agreement  may be  terminated    prior   to   the
Closing  only in accordance with the following:

          (a) at any time by agreement of the Sellers and the Buyer;

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          (b) by either of the Sellers or the Buyer if the Closing hereunder has
not taken  place on or before  the  Termination  Date  other than by reason of a
material  breach or default of any of the covenants or  agreements  contained in
this  Agreement  (i) by either of the Sellers or either of the  Companies,  if a
Seller is seeking to  terminate  or (ii) by the Buyer if the Buyer is seeking to
terminate;

          (c) by either of the Sellers, at any time, if the Buyer is in material
breach or material  default of its covenants,  agreements or  obligations  under
this Agreement,  or if any of its  representations or warranties are not true in
all material respects, and the Buyer does not cure such breach or default within
thirty  (30) days  following  its receipt of notice of such  material  breach or
default  from the Cable  Venture,  provided  that  neither  the  Sellers nor the
Companies  are also in  material  breach  or  material  default  of any of their
covenants, agreements, representations or warranties hereunder;

          (d) by the Buyer, at any time, if the  representations  and warranties
of the Companies and the Sellers are not true and correct in all respects at and
as of such time and the Sellers or the  Companies,  as  applicable,  do not cure
such failure to be true and correct  within  thirty (30) days  following  its or
their receipt of notice of such failure,  provided that the Buyer is not then in
material  default  of any  of  its  covenants,  agreements,  representations  or
warranties  hereunder;  PROVIDED that for purposes of this Section 12.1(d), such
representations  and warranties shall be deemed true and correct in all respects
to the extent  that,  after  removing  concepts  of Material  Adverse  Effect or
materiality  from  all  such  individual  representations  and  warranties,  the
aggregate effect of any inaccuracies in all such  representations and warranties
as of the  applicable  times does not and would not reasonably be expected to be
material to the Companies  taken as a whole);  but PROVIDED,  FURTHER,  that the
foregoing proviso shall not apply to the representations and warranties relating
to the capitalization of the Companies set forth in Section 4.1;

          (e) by the Buyer,  at any time, if the Sellers or the Companies are in
material breach or default of any of their respective  covenants,  agreements or
obligations  under  this  Agreement  and  the  Sellers  or  the  Companies,   as
applicable, do not cure such breach or default within thirty (30) days following
its or their  receipt  of  notice  of such  breach or  default  from the  Buyer,
PROVIDED that the Buyer is not then also in material breach or default of any of
its covenants, agreements, representations or warranties hereunder;

          (f) by the  Buyer on any day on or after 30 days from the date of this
Agreement if an Order has not been entered by the Bankruptcy Court approving the
Break-Up Fee and Expense Reimbursement;

          (g) by the Buyer or either of the  Sellers if the  Confirmation  Order
(which  shall  contain  all of the items set forth in  Section  7.11(b))  is not
entered by September 9, 2005 (or by September  30, 2005 if there are  objections
to the Confirmation Order);

          (h) by the Buyer if (i) the Cable  Venture  or  Century  notifies  the
Buyer of its  intention to exercise its rights under  Section  7.11(c)(ii)  with
respect to an  Acquisition  Proposal and (ii) the Cable  Venture or Century,  as
applicable, has not notified the Buyer within 20 days of

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the delivery of such notice that it has determined not to pursue, and has ceased
all discussions and negotiations concerning, such Acquisition Proposal;

          (i) by the  Sellers or the Buyer,  if the Cable  Venture  and  Century
obtain an Order of the Bankruptcy Court approving any Alternate Agreement;

          (j) by the Buyer if (1) either of the  conditions set forth in Section
9.8 with respect to the minimum number of Equivalent  Subscribers or the minimum
Operating  Cash Flow is not satisfied or (2) the Sellers and the Companies  have
not delivered the financial statements, management's discussion and analysis and
"comfort  letter"  required to be  delivered  to the Buyer  pursuant to Sections
7.17(b),  7.17(c),  7.17(d);  and 7.17(e) by August 31, 2005 (in the case of the
Audited  Financials)  and  September  15,  2005  (in  the  case  of the  Interim
Financials  and the "comfort  letter") and November 22, 2005 (in the case of the
Supplemental  Interim Financials,  if required by Section 7.17(e)) or (3) any of
the conditions  set forth in Section 9.6 with respect to the Audited  Financials
or the Draft 2004 Financials is not satisfied;  PROVIDED that, for the avoidance
of doubt,  the parties agree that if any of the  conditions set forth in Section
9.6 with respect to the Audited  Financials or the Draft 2004  Financials is not
satisfied  and,  as a  consequence  thereof,  the Buyer is unable to obtain debt
financing  on terms no less  favorable  than  those set forth in the  Commitment
Letters, Buyer's termination of this Agreement shall be deemed a termination for
failure of the closing  conditions  set forth in Section 9.6, not a  termination
for failure of the closing condition set forth in Section 9.9;

          (k) by the Sellers,  if (i) a hurricane or other force  majeure  event
occurs  after  the  date of this  Agreement,  (ii)  the  actual  expense  to the
Companies to repair the damage to the Systems  caused by such hurricane or other
force  majeure  event  exceeds  $500,000  and (iii) the Buyer and/or the Buyer's
lenders  do not  consent to an  adjustment  to  Operating  Cash Flow in the full
amount of such expenses;

          (l) by the Sellers,  if (i) the  adjustments  to the Purchase Price on
the Closing Date set forth in Sections  3.3(b)-(d)  result in a reduction of the
Purchase  Price  (as  calculated  pursuant  to  Section  3.3(d))  in  excess  of
$20,000,000  (the "MAXIMUM  PERMISSIBLE  REDUCTION")  and (ii) the Buyer has not
agreed to limit the reduction of the Purchase  Price to the Maximum  Permissible
Reduction;

          (m) by the Buyer as set forth in Section 7.14;

          (n) by the Buyer or either of the  Sellers as set forth in Section 18;
or

          (o) by the Buyer or the Sellers,  if any  Governmental  Authority that
must grant a Material  Consent has denied approval of the  Transactions and such
denial has become  final and  nonappealable  or any  Governmental  Authority  of
competent  jurisdiction  shall  have  entered  a final and  nonappealable  order
permanently   enjoining  or  otherwise  prohibiting  the  consummations  of  the
Transactions.

     12.2 SURVIVING OBLIGATIONS.  In the event of termination of this  Agreement
by either  the Buyer, on the one hand, or either or both of the  Sellers, on the
other hand, pursuant to this Section 12, (i) prompt written notice thereof shall
be given to the other  parties,  and this  Agreement  shall  terminate,  without
further action by any of the parties hereto, and (ii) all

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obligations of the parties hereunder shall terminate, except for the obligations
set forth in Sections  7.1,  7.11(c)(iv),  12.2,  13, 16 and 21,  PROVIDED  that
nothing  contained in this Section 12.2 shall  relieve any party from  liability
for any willful and material breach of any representation,  warranty or covenant
contained in this  Agreement.  For  avoidance of doubt and without  limiting the
generality of the foregoing, if Sellers fail to deliver any financial statements
or otherwise fail to comply with their obligations under Section 7.17, or if for
any reason the condition set forth in Section 9.6 is not satisfied,  the Buyer's
sole remedy  shall be to  terminate  this  Agreement  and to receive the Expense
Reimbursement, and if the failure was the result of the Sellers' willful breach,
the Break-Up Fee, if payable pursuant to Section 7.11(c)(iv)(B).

            13.   FEES AND EXPENSES

     Except  as  expressly  set  forth  in  this  Agreement  and  the  Schedules
(including  pursuant to Section 7.4, Section 7.11(c)(iv) and Section 12.2), each
of (i) the Buyer,  (ii) each of the  Sellers  and (iii)  each of the  Companies,
shall be responsible  for, and shall pay, its own fees and expenses  incurred in
connection  with the  authorization,  preparation,  execution and performance of
this Agreement, including all fees and expenses of counsel, accountants,  agents
and other  representatives;  PROVIDED,  that (i) expenses of the Companies  that
remain unpaid as of the Closing Date shall be included as a Closing Date Current
Liability in the  calculation of the Closing Date Working  Capital (and shall be
paid by the Buyer) and (ii) upon the Closing, the Buyer shall be responsible for
all expenses  incurred by the Buyer in connection  with the foregoing  (but such
amount  shall  not be  included  in the  calculation  of  Closing  Date  Working
Capital).

            14.   ENTIRE AGREEMENT

     The Buyer and the  Sellers  and the  Companies  agree that this  Agreement,
including  the  Schedules  and all Exhibits  hereto,  and any Related  Agreement
constitute  the entire  agreement  among the parties with respect to the subject
matter hereof and supersede all prior understandings,  agreements,  writings and
deliveries with respect thereto.  None of the Sellers or the Companies has made,
and the Buyer has not relied  upon,  and the  Sellers and the  Companies  hereby
disclaim, any express or implied representation,  warranty, inducement, promise,
understanding or condition not set forth in any of this Agreement, the Schedules
and the Exhibits hereto and/or any Related Agreement.

             15.   PARTIES OBLIGATED AND BENEFITED

     Subject to the limitations set forth below,  this Agreement will be binding
upon the parties and their  respective  assigns and  successors  in interest and
will inure solely to the benefit of the parties and their respective assigns and
successors in interest,  and except as expressly provided in this Agreement,  no
other  Person  will  be  entitled  to any  of the  benefits  conferred  by  this
Agreement. Without the prior written consent of the other parties, no party will
assign any of its rights  under this  Agreement  or  delegate  any of its duties
under this  Agreement,  except that the Buyer shall have the right to (a) assign
its rights and  obligations  under this  Agreement to any Affiliate  without the
prior consent of the Sellers,  the Cable Venture or Cable Corp.,  so long as the
Buyer  remains  fully  liable  hereunder  as if it was a  party  hereto  and (b)
collaterally  assign this

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Agreement to any sources of financing solely to secure the Buyer's obligation in
connection with the Transactions.

            16.   NOTICES

     All  notices,  requests,  consents,  and other  communications  under  this
Agreement  shall be in  writing  and shall be  delivered  in person or mailed by
first class  certified or registered  mail,  return receipt  requested,  postage
prepaid,  by reputable  overnight  mail or courier or by  telecopier,  in either
case, with receipt confirmed, addressed as follows:

If to the Companies:   to each of ML Media and Century as provided below

With a copy (which     Morgan Lewis & Bockius
shall not constitute   101 Park Avenue
notice) to:            New York, New York  10178
                       Telephone:  (212) 309 6000
                       Telecopy:   (212) 309 6273
                       Attention:  Richard Toder, Esq.

If to ML Media:        ML Media Partners, L.P.
                       c/o RP Companies, Inc.
                       444 Madison Avenue, Suite 703
                       New York, New York  10022
                       Telephone:  (212) 980 7110
                       Telecopy:   (212) 980 8374
                       Attention:  Elizabeth McNey Yates

With a copy (which     Proskauer Rose LLP
shall not constitute   1585 Broadway
notice) to:            New York, New York  10036
                       Telephone:  (212) 969 3205
                       Telecopy:   (212) 969 2900
                       Attention:  Bertram A. Abrams, Esq.

If to Century, to:     Century Communications Corporation
                       c/o Adelphia Communications Corporation
                       5619 DTC Parkway - 8th Floor
                       Greenwood Village, Colorado  80111
                       Telephone:  (303) 268 6458
                       Telecopy:   (303) 268 6662
                       Attention:  General Counsel

With a copy (which     Willkie Farr & Gallagher LLP
shall not constitute   787 Seventh
Avenue notice) to      New York, New York 10019
                       Telephone:  (212) 728 8000
                       Telecopy:   (212) 728 8111

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                       Attention:  Marc Abrams, Esq.

                             and

If to Buyer:           San Juan Cable, LLC
                       c/o MidOcean Partners, LP
                       320 Park Avenue, 17th Floor
                       New York, New York 10022
                       Telephone:  (212) 497-1400
                       Telecopy:   (212) 497-1375
                       Attention:  Tyler Zachem

With a copy (which     Kirkland & Ellis LLP
shall not constitute   655 Fifteenth Street, N.W.
notice) to:            Washington, D.C.  20005
                       Telephone:  (202) 879-5000
                       Telecopy:   (202) 879-5200
                       Attention:  George P. Stamas, Esq.
                       Mark D. Director, Esq.

or at such other  address or addresses as may have been  furnished in writing by
any party to the others in  accordance  with the  provisions of this Section 16.
Notices and other  communications  provided in  accordance  with this Section 16
shall be  deemed  delivered  upon  receipt.  The  furnishing  of any  notice  or
communication  required hereunder may be waived in writing by the party entitled
to receive such notice.  Failure or delay in delivering  copies of any notice to
persons  designated above to receive copies shall in no way adversely affect the
effectiveness of such notice or communication.

             17.   AMENDMENTS AND WAIVERS

     Except as otherwise expressly set forth in this Agreement, any term of this
Agreement may be amended and the observance of any term of this Agreement may be
waived (either generally or in a particular instance and either retroactively or
prospectively),  only with the written consent of the Sellers and the Buyer. Any
amendment or waiver effected in accordance with this Section 17 shall be binding
upon all parties hereto.  No waivers of or exceptions to any term,  condition or
provision of this Agreement,  in any one or more  instances,  shall be deemed to
be, or construed as, a further or continuing waiver of any such term,  condition
or provision.

            18.   SEVERABILITY

     If any provision of this Agreement  shall be determined by a court or other
tribunal of competent  jurisdiction to be invalid,  inoperative or unenforceable
because of the conflict of such provision with any constitution, statute, common
law principle,  rule of public policy or for any other reason, such circumstance
shall  have no effect or render  any other  provision  or  provisions  contained
herein  invalid,  inoperative  or  unenforceable,  but this  Agreement  shall be

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reformed  and  construed  as  if  such  invalid,  inoperative  or  unenforceable
provision had never been contained herein and such provision reformed so that it
would be valid,  operative  and  enforceable  to the maximum  extent  permitted;
PROVIDED,  that if as a result of any of the  foregoing,  the Cable  Venture and
Cable Corp.  cannot  consummate  the  acquisition  of the Acquired  Interests in
accordance with the terms of this  Agreement,  either the Buyer or either of the
Sellers may terminate  this  Agreement,  and it shall be of no further force and
effect, unless all parties agree in writing to the contrary.

            19.   SECTION HEADINGS AND TERMS

     The section  headings in this Agreement are for  convenience  and reference
purposes only and shall not in any way affect the meaning or  interpretation  of
this Agreement.

            20.   COUNTERPARTS

     This  Agreement may be executed in two or more  counterparts  (including by
facsimile or electronic  mail),  each of which shall be deemed an original,  but
all of which together shall  constitute one and the same  instrument,  and shall
become effective when  counterparts that together contain the signatures of each
party hereto shall have been delivered to the Sellers and the Buyer.

            21.   GOVERNING LAW; CONSENT TO JURISDICTION

     All  disputes  arising  out of or  related  to this  Agreement,  including,
without  limitation,  any  dispute  relating to the  interpretation,  meaning or
effect of any provision hereof, will be resolved in the Bankruptcy Court and the
parties hereto will each submit to the exclusive  jurisdiction of the Bankruptcy
Court for the  purposes  of  adjudicating  any such  dispute,  to the extent the
jurisdiction of the Bankruptcy  Court is applicable.  If the jurisdiction of the
Bankruptcy Court is not applicable, any legal action, suit or proceeding arising
out of or relating to this  Agreement,  each and every  agreement and instrument
contemplated hereby or the transactions contemplated hereby and thereby shall be
instituted in the U.S.  District Court for Southern  District of New York.  This
Agreement  shall be governed by and  construed in  accordance  with the internal
laws of the  State of New York  (i.e.,  without  regard to any  contrary  result
required under applicable conflict of law rules).

            22.   SPECIFIC PERFORMANCE

     The parties  hereto  acknowledge  that money damages may not be an adequate
remedy for  violations  of this  Agreement  and that any party may,  in its sole
discretion,  apply to a court of competent jurisdiction for specific performance
or injunctive or other relief as such court may deem just and proper in order to
enforce  this  Agreement or prevent any  violation  hereof by any of the parties
hereto and, to the extent permitted by applicable Legal Requirements, each party
hereof waives any objection to the imposition of such relief.  Any such specific
or equitable  relief granted shall not be exclusive and an Indemnitee shall also
be entitled to seek indemnification to the extent permitted by Section 11.

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            23.   FURTHER ASSURANCES

     Each party  hereto  shall  execute,  acknowledge  and  deliver  any further
assurance,  documents and  instruments  reasonably  requested by any other party
hereto for the purpose of giving effect to the Transactions or the intentions of
the parties with respect thereto.

            24.   CONSTRUCTION

     In the  interpretation  and  construction  of this  Agreement,  the parties
acknowledge  that the terms hereof reflect  extensive  negotiations  between the
parties  and that  this  Agreement  shall  not be  deemed,  for the  purpose  of
construction and interpretation, drafted by any party hereto.

                                       94

<PAGE>

     IN  WITNESS   WHEREOF,   the  parties  hereto  have  caused  this  Interest
Acquisition Agreement to be executed by their duly authorized representatives on
the day and year first above written.

                                    ML MEDIA PARTNERS, L.P.

                                    By:  Media Management Partners,
                                           its general partner

                                    By:
                                          ------------------------------
                                    Name:
                                    Title:

                                    CENTURY COMMUNICATIONS
                                    CORPORATION

                                    By:
                                          ------------------------------
                                    Name:
                                    Title:

                                    CENTURY-ML CABLE VENTURE

                                    By:  ML Media Partners, L.P.
                                    By:  Media Management Partners,
                                              its general partner

                                    By:
                                          ------------------------------
                                    Name:
                                    Title:

                                    By:   Century Communications Corporation

                                    By:
                                          ------------------------------
                                    Name:
                                    Title:

                                       95

<PAGE>

                                    CENTURY ML CABLE CORP.

                                    By:
                                          ------------------------------
                                    Name:
                                    Title:

                                    By:__________________________________
                                    Name:
                                    Title:

                                    SAN JUAN CABLE, LLC

                                    By:
                                          ------------------------------
                                    Name:  Tyler Zachem
                                    Title: Secretary

                                       96

<PAGE>

                         INTEREST ACQUISITION AGREEMENT

                                  BY AND AMONG

                            ML MEDIA PARTNERS, L.P.,

                       CENTURY COMMUNICATIONS CORPORATION,

                            CENTURY ML CABLE VENTURE,

                             CENTURY ML CABLE CORP.

                                       AND

                              SAN JUAN CABLE, LLC,

                                    AS BUYER

                                   DATED AS OF

                                  JUNE 3, 2005

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