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                                                                   EXHIBIT 10.10

To:      Cycad Financial Holdings Limited
         85 Kerry Road
         Parkview 2193
         PO Box 72425
         Parkview 2122
         Republic of South Africa

Attn:    Leonard Fine

                                                                 1 October, 1999

Dear Sirs,

FOCUSED MEDIA LIMITED (THE "COMPANY")

Further to the proposed subscription by Cycad Financial Holdings Limited
("Cycad") of shares in the Company under a subscription and shareholders
agreement (the "Agreement"), dated 30 September 1999 between CNBC Sports
International Limited ("CNBC Sports"), the Company, Beverly Hills Ltd., Inc.
("Beverly Hills"), Cycad and Luna Trading Limited ("Luna Trading"):

(a)      the matters set out in paragraphs 1 to 3 below are confirmed by CNBC
         Sports, Beverly Hills and Luna Trading; and

(b)      the matters set out in paragraphs 4 to 7 are agreed as amendments to
         the Agreement by all the parties thereto.

CONFIRMATIONS

1.   We, CNBC Sports and Beverly Hills as shareholders of the Company, and
     Luna Trading as holder of an option to purchase shares in the Company,
     confirm as follows:

     (i)      the Company is a properly constituted company, incorporated as a
              private limited company in the Republic of Ireland on 30 June 1998
              with registered number 289308;

     (ii)     (subject to paragraph 2 below) the current authorised share
              capital of the Company is L.1,000,000 of which 151,691 shares
              of L.1 each are in issue;

     (iii)    the GlobalGolf.com domain name is owned by Global Golf Limited;

     (iv)     Global Golf Limited is a wholly owned subsidiary of the Company;

     (v)      the Company will have no outstanding loan accounts at the time of
              Completion (as defined in paragraph 3 below); and

     (vi)     as far as we are aware, the financial statements of the Company
              (including year to date results for 1998 and 1999) presented to
              Cycad for due diligence purposes on 30 September 1999 accurately
              reflect the financial position of the Company at that date. Any
              financial liabilities (including tax liability and operational
              expenditure) existing at and/or arising after this date but prior
              to Completion (as defined in paragraph 3 below) will be the sole
              responsibility of Beverly Hills.

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SHAREHOLDINGS

2.    It is the intention that, at the time of completion of the transaction
      described in paragraph 3 below, 242,706 shares shall be in issue. This
      will be a consequence of Luna Trading exercising its outstanding option
      for 30% of the shares in the Company and the subsequent issue to CNBC
      Sports of additional shares to maintain its 20% shareholding. The
      respective shareholdings will therefore be as follows:

      CNBC Sports             48,541 shares (20%)
      Beverly Hills          121,353 shares (50%)
      Luna Trading            72,812 shares (30%)

3.    Further subject to completion occurring on the First Completion Date (as
      defined in the Agreement and as amended below) ("Completion"):

      (i)   the board of directors of the Company will be constituted in the
            following manner:

            CNBC Sports - one director
            Beverly Hills - three directors
            Luna Trading Limited - two directors
            Cycad - one director

            Representative from one of the six tours of the world of golf - one
            non executive director; and

      (ii)  the relevant shareholdings (and percentage shareholdings) in the
            Company shall be:

            CNBC Sports             48,541 shares (18%)
            Beverly Hills          121,353 shares (45%)
            Luna Trading            72,812 shares (27%)
            Cycad                   26,967 shares (10%)

AMENDMENTS TO THE AGREEMENT

4.    Definitions (Clause 1)

      The definition for "First Completion Date" shall be replaced to read as
      follows:

      ""First Completion Date" means 1 November 1999 or, if the approval of the
      South African Reserve Bank referred to in Clause 3 has not been obtained
      by 1 November 1999 and if this Agreement has not lapsed by virtue of
      Clause 3, the date on which such approval is obtained."

5.    Condition Precedent (Clause 3)

      The following sentence shall be added to the end of Clause 3:

      "In the event that the First Subscription Price has not been
      unconditionally released from such trust account and paid to the Company
      by Cycad in full by 30 November 1999 this Agreement shall automatically
      lapse and none of the parties shall have any rights or obligations, or any
      liability whatsoever to any of the other parties, under or arising out of
      this Agreement."
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                  6. Governing Law (Clause 13)

                     Clause 13.1 shall be amended to read as follows:

                     "This Agreement shall be governed by and construed in all
                     respects in accordance with English law."

                     The following shall be inserted as new clauses 13.2, 13.3
                     and 13.4.

                     "13.2  Any dispute or difference of any kind arising
                            between any of the parties in connection with the
                            Agreement shall be referred to arbitration in London
                            before a single arbitrator.

                     13.3   If the parties are unable to agree to the
                            appointment of such arbitrator within 30 days of
                            one party serving notice on the other calling for
                            the appointment of an arbitrator then such
                            arbitrator shall:

                            (i)  in the event of a financial dispute, be
                                 appointed on the application of any party to
                                 the independent accountancy firm of Deloitte &
                                 Touche; and

                            (ii) in the event of a legal dispute, be appointed
                                 on the application of any party to the
                                 President for the time being of the Law Society
                                 of England and Wales.

                     13.4   The decision and award of the arbitrator shall be
                            final and binding on the parties."

                  7. Insolvency

                     The following shall be inserted into the Agreement as new
                     Clause 11.3:

                     "11.3   The insolvency of a Shareholder shall
                             automatically give rise to an offer for sale for
                             all of that Shareholder's Shares. The terms of
                             Clause 6 shall apply to such offer for sale as
                             applicable."

                  Save as expressly stated in this letter, the Agreement
                  remains in full force and effect.

                  Yours faithfully,

                  /s/ [ILLEGIBLE]                /s/ [ILLEGIBLE]
                  -------------------------      -------------------------

                  For and on behalf of           For and on behalf of

                  Beverly Hills Ltd., Inc.       CNBC Sports International
                                                 Limited

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/s/ ILLEGIBLE                                /s/ ILLEGIBLE
---------------------                        ---------------------

For and on behalf of                         For and on behalf of

Luna Trading Limited                         the Company

By acknowledging this letter, we, Cycad Financial Holdings Limited agree to the
terms of this letter as they amend the Agreement.

---------------------

For and on behalf of

Cycad Financial Holdings Limited<PAGE>   1
                                                                   EXHIBIT 10.11

                  MODIFICATION AGREEMENT dated 26th day of October 1999

                  Reference is made to the Shareholders' and Subscription
                  Agreement dated 30 September 1999 between CNBC Sports
                  International Limited, Focused Media Limited ("Focused
                  Media"), Beverly Hills Ltd., Inc, Cycad Financial Holdings
                  Limited ("Cycad") and Luna Trading Limited (the "Agreement"),
                  as amended by that certain letter agreement between the same
                  parties dated 1 October 1999 (the "Letter Agreement").

                  Cycad hereby confirms that its board of directors has approved
                  the terms of the Agreement, as amended by the Letter
                  Agreement, so that the condition set forth in Clause 3(a) of
                  the Agreement has been satisfied.

                  The parties hereby agree that, notwithstanding the provisions
                  of the Agreement and the Letter Agreement as amended, payment
                  of the First Subscription Price (as defined in Clause 2.1 of
                  the Agreement) shall be paid to Focused Media in two
                  installments of US$2,500,000 each. The first instalment shall
                  be paid on the First Completion Date (as defined in the Letter
                  Agreement). The second installment shall be paid upon the
                  request of Focused Media's board of directors at any time on
                  or before 31 March 2000 provided that an agreement has been
                  reached for the provision of comprehensive technical services
                  between Focused Media and Unleys (or other comparable
                  organisation), prior to the date the of the request and
                  provided that this agreement will be finalised by not later
                  than 31 December, 1999.

                  /s/ [ILLEGIBLE]               /s/ [ILLEGIBLE]
                  -------------------------     -------------------------

                  For and on behalf of          For and on behalf of

                  Beverly Hills Ltd., Inc.      CNBC Sport International Limited

                  /s/ [ILLEGIBLE]               /s/ [ILLEGIBLE]
                  -------------------------     -------------------------

                  For and on behalf of          For and on behalf of

                  Luna Trading Company          Focused Media Limited
                  Limited

                  /s/ [ILLEGIBLE]
                  -------------------------

                  For and on behalf of

                  Cycad Financial Holdings
                  Limited

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