Document:

Exhibit
      10.2

    THE
      TUBE MEDIA CORP.

    

     

    March
      6,
      2006      

    

    Mr.
      John
      E. Reardon, President    

    Tribune
      Broadcasting Company

    435
      North
      Michigan Avenue, Suite 1800

    Chicago,
      IL 60611

    

    
      	
            	Re:	
              Charter
                Affiliation Agreement (the
                “Agreement”)
                dated
                as of March 6, 2006 by and between The Tube Music Network, Inc.
                (“Network”) and Tribune
                Broadcasting Company (“Affiliate”) 

            

    

    

    Dear
      Mr.
      Reardon:

    

    As
      an
      inducement to Affiliate to enter into the Agreement, and in consideration of
      Affiliate’s obligations in the Agreement, including but not limited to, the
      obligation to transmit the Service on broadcast television stations listed
      on
Exhibit
      A
      of the
      Agreement, this letter shall confirm our agreement respecting additional
      consideration to be provided by Network to Affiliate. All capitalized terms
      used
      and not otherwise defined herein shall have the meanings as set forth in the
      Agreement. Unless terminated earlier, the provisions of this letter shall
      terminate upon the expiration or earlier lawful termination of the Agreement,
      other than paragraph 7 herein which shall terminate twelve (12) months after
      the
      expiration or earlier lawful termination of the Agreement. 

    

    Network
      hereby agrees to provide Affiliate with the consideration set forth below,
      all
      such consideration to be in addition to that consideration set forth in the
      Agreement, including but not limited to as specified in Exhibit
      D
      thereof.

    

    1.  Consideration.
      The
      Tube Media Corp. (“Tube
      Media”),
      the
      parent company of Network, shall provide Affiliate with warrants to purchase
      shares of common stock of Tube Media in the following amounts and upon the
      following occurrences. Each warrant shall be in the form attached as
Exhibit 1
      hereto.
      Each warrant will expire on the earlier of (i) the tenth anniversary of the
      issuance of the pertinent common stock purchase warrant, or (ii) the termination
      or expiration of the Agreement (including any renewal periods):

    

    (a)  Within
      ten (10) days after the execution of the Agreement, Affiliate shall receive
      a
      common stock purchase warrant to acquire [XXXXX]*shares
      of
      Tube Media’s common stock, at a purchase price of two dollars and twenty-five
      cents ($2.25) per share;

     

      
        

      

    

    * Filed
      under an application for confidential treatment.

    

    
      
        
          1451
            West
            Cypress Creek Road, Suite 300 ,
            Ft.
            Lauderdale, Florida 33309

        

      

      
        
        

        
          

        

      

      
        
          March
            6,
            2006      

          Mr.
            John
            E. Reardon

        

      

    

     

    (b)  Upon
      Affiliate’s transmission of the Service to Stations in DMAs that represent
      seventy-five percent (75%) of all TV Households (as defined in the Agreement)
      in
      the DMAs where Affiliate owns and/or operates Broadcast Television stations
      (“Affiliate
      DMAs”),
      Affiliate shall receive a common stock purchase warrant to acquire
      [XXXXX]*shares
      of
      Tube Media’s common stock, at a purchase price of two dollars and fifty cents
      ($2.50) per share.

    

    2.  Additional
      Consideration.
      Tube
      Media will provide Affiliate grants of common stock on
      the
      terms and conditions as expressly set forth in the Securities Issuance Agreement
      (the form of which is attached hereto as Exhibit
      3),
      which
      shall contain provisions
      as
      follows:

    

    (a)  Within
      ten (10) days after the execution of the Agreement, Tube Media will issue to
      Affiliate [XXXXX]* shares of common stock of Tube Media. 

    

    (b)  Tube
      Media will issue to Affiliate additional shares of common stock at the rate
      of
      [XXXXX]* shares of Tube Media common stock for each eleven million (11,000,000)
      TV Households (or pro rata portion
      if less
      than eleven
      million (11,000,000) TV Households) that first receive the Service as a
      result of a launch of the Service on a Station pursuant to the Agreement;
      provided, however, that TV Households that receive the Service in DMAs with
      fewer than one hundred thousand (100,000) TV Households shall not be included
      in
      the calculation of “TV Households” solely for purposes of this paragraph 2(b). A
      schedule of TV Households in current Affiliate DMAs and the number of shares
      of
      common stock to be issued within twenty (20) days after launch of the Service
      in
      each Affiliate DMA is set forth in Exhibit 2
      hereto.

    

    (c)  In
      the
      event Affiliate launches the Service on any Acquired Station, or on an Affiliate
      Broadcast Television station in the New Orleans DMA, Tube Media shall issue
      additional shares of Tube Media common stock to Affiliate at the same ratio
      and
      subject to the same restrictions set forth in paragraph 2(b) above, in each
      case, within twenty (20) days after the launch of the Service on such Acquired
      Station or on such Affiliate Broadcast Television station in the New Orleans
      DMA, as the case may be; provided, however, that in no event shall more than
      an
      aggregate of [XXXXX]* shares be issued pursuant to this paragraph 2.

    

    (d)  All
      shares issued to Affiliate hereunder will be duly authorized, and when issued
      hereunder, will be validly issued, fully paid and non-assessable. The shares
      will not be registered under the Securities Act of 1933, as amended. All such
      shares shall be issued pursuant to the Securities Issuance Agreement in the
      form
      attached hereto as Exhibit
      3.
      With
      respect to the issuance of any securities hereunder, Affiliate represents and
      warrants that it is an accredited investor, as such term is defined in
      Regulation D of the Securities and Exchange Act and that the Affiliate has
      such
      knowledge and experience in financial, investment and business matters so as
      to
      be capable of evaluating the merits and risks of the proposed investment.
 Affiliate hereby agrees to execute such documents as may be reasonably
      necessary and appropriate, and as requested by Tube Media, to permit compliance
      with state and federal securities laws. Affiliate is hereby granted piggyback
      registration rights with respect to all shares issued hereunder.

     

    
      
        

      

      * Filed
        under an application for confidential treatment.

      
        

        
          
            
              2

            

          

          
            
              1451
                West
                Cypress Creek Road, Suite 300 ,
                Ft.
                Lauderdale, Florida 33309

            

            
              

            

          

          
            
              March
                6,
                2006      

              Mr.
                John
                E. Reardon

            

          

           

        

      

    

    (e)  Tube
      Media represents and warrants that Exhibit
      4
      hereto
      sets forth the complete capitalization of Tube Media, including a listing of
      all
      outstanding equity securities, securities convertible into or exchangeable
      for
      equity securities, and any outstanding rights to purchase such
      securities.

    

    3.  [XXXXX]*.
       In
      consideration of, and subject to, Affiliate’s distribution of the Service on
      each of the Stations covered by the Agreement, and Affiliate’s continued
      transmission of the Service throughout the Term in accordance with the terms
      of
      the Agreement, Network shall pay Affiliate a [XXXXX]* each calendar quarter
      during the Initial Term (the “[XXXXX]*”)
      based
      on the number of [XXXXX]* Subscribers (as defined below) in the DMAs of the
      Stations transmitting the Service pursuant to the Agreement. The [XXXXX]*,
      if
      any, shall be payable at the end of each calendar quarter for the three months
      contained in such calendar quarter as set forth below in this paragraph 3;
      provided, however that if the Agreement commences and/or the requirement to
      pay
      the [XXXXX]* terminates on a date other than the first or last day of a calendar
      quarter, respectively, then the [XXXXX]* for such calendar quarter shall be
      prorated based on the number of days in such calendar quarter that the Agreement
      is in effect and an MVPD is distributing the Service in the DMA of a Station
      transmitting the Service. The [XXXXX]* for each quarter during the Initial
      Term
      shall be determined by [XXXXX]* by the number of [XXXXX]* Subscribers. The
      number of “[XXXXX]*
      Subscribers”
shall
      be equal to the average of the number of Digital Cable Subscriber Households
      (determined in accordance with subparagraph 3(a) below) as of the last day
      of the quarter preceding the quarter at issue and the number of Digital Cable
      Subscriber Households as of the last day of the quarter at issue. For each
      quarter during calendar years 2008-2011 in which a portion of the [XXXXX]*
      is
      payable, the number of [XXXXX]* Subscribers for which the [XXXXX]* will be
      payable shall be capped at the number of Digital Cable Subscriber Households
      (determined in accordance with subparagraph 3(a) below) as of December 31,
      2007.

    
      	 	
               

            

    

     

    
      
        	        (a)	
                (i)

              	For purposes of calculating the [XXXXX]*,
                the
                number of “Digital
                Cable Subscriber Households”
                in the DMA(s) of each Station transmitting the Service shall equal
                the
                number of Digital Cable Subscriber Households as set forth in the
                certified report supplied by each MVPD distributing the Service (as
                described in Section 7(a) of the
                Agreement).

      

      
        	 	 	 

      

    

    
      
        
          

        

        * Filed
          under an application for confidential treatment.

        
          

          
            
              
                3

              

            

            
              
                1451
                  West
                  Cypress Creek Road, Suite 300 ,
                  Ft.
                  Lauderdale, Florida 33309

              

              
                

              

            

            
              
                March
                  6,
                  2006      

                Mr.
                  John
                  E. Reardon

              

            

             

          

        

      

    

     

    
      	 	
              (ii)
                

            	
              In
                the event that the total number of linear digital video subscribers
                served
                by an MVPD that distributes the Service is not broken out by DMAs
                in such
                MVPD’s reported data, then, for purposes of this paragraph 3, the
                number of Digital Cable Subscriber Households for such non-reporting
                MVPD
                shall be equal to the product of (x) the number of TV Households
                receiving
                linear video services from such MVPD’s systems that carry the Service in
                the pertinent DMA as set forth in a Nielsen report such as FOCUS
                multiplied by (y) the National Digital Cable Penetration Percentage
                most
                recently reported by such MVPD. The “National
                Digital Cable Penetration Percentage”
                shall be equal to the quotient of (i) the total number of subscribers
                to
                linear digital video services as most recently publicly reported
                by such
                MVPD, divided by (ii) the total number of TV Households receiving
                linear
                video services from such MVPD as most recently publicly reported
                by such
                MVPD.

            

    

    

    
      	 	
              (iii)

            	
              In
                the event that a particular MVPD does not report its total number
                of
                subscribers to linear digital video services and total number of
                TV
                Households receiving linear video services, then, for purposes of
                this
                paragraph 3, the number of Digital Cable Subscriber Households for
                such
                non-reporting MVPD shall be equal to the product of (x) the number
                of TV
                Households receiving linear video services served by such MVPD’s systems
                that carry the Service as set forth in a Nielsen report such as FOCUS
                multiplied by (y) a national digital cable penetration estimate from
                Kagan
                Research, LLC.

            

    

    

    
      
        	 	
                (iv)

              	
                In
                  the event that a more accurate independent publicly available source
                  for
                  determining the number of television households that receive the
                  Service
                  through a subscription cable service hereafter becomes available,
                  the
                  parties may mutually agree to use such source in lieu of the
                  foregoing.

              

      

      
        	 	 	 

      

    

     

    (b)  For
      each
      calendar year for which a [XXXXX]*
      is
      payable, a running balance sheet of the [XXXXX]* will be maintained and
      reconciled on a quarterly basis as follows:

     

    
      
        

      

      * Filed
        under an application for confidential treatment.

      
        

        
          
            
              4

            

          

          
            
              1451
                West
                Cypress Creek Road, Suite 300 ,
                Ft.
                Lauderdale, Florida 33309

            

            
              

            

          

          
            
              March
                6,
                2006      

              Mr.
                John
                E. Reardon

            

          

        

      

    

    
       

      
        	 	(i)	If at the end of any calendar quarter during the
                Initial
                Term, the sum of the aggregate Affiliate Advertising Share and aggregate
                Affiliate Transactional Share (“Total
                Revenue”)
                for such calendar quarter equals or exceeds the [XXXXX]* due and
                payable
                for such calendar quarter, then Network shall pay the Total Revenue
                in
                accordance with the provisions of Exhibit D
                to
                the Agreement and shall not pay Affiliate any additional amounts
                during
                such calendar quarter (i.e.,
                no portion of the [XXXXX]* shall be due or payable for such quarter),
                provided that Network may carry forward to subsequent calendar quarters
                during such calendar year the amount by which Total Revenue exceeds
                the
                portion of the [XXXXX]* that would otherwise have been payable for
                that or
                any subsequent calendar quarter(s). In no event will any dollar amount(s)
                payable to Affiliate be carried forward past the expiration of the
                Initial
                Term. The following table provides an illustration of the carry-forward
                concept and assumes the [XXXXX]* for the calendar year is $[XXXXX]*
                (payable in four equal $[XXXXX]* installments over such calendar
                year),
                and Total Revenue of $[XXXXX]* for the first quarter, $[XXXXX]* for
                the
                second quarter, $[XXXXX]* for the third quarter, and $[XXXXX]* for
                the
                fourth quarter of such calendar
                year.

      

       

    

    
      	
              Calendar
                Quarter:

            	 	
              [XXXXX]*

            	 	
              Total
                Revenue:

            	 	
              Amount
                Paid:

            	 	
              Carry
                Forward:

            
	 	 	 	 	 	 	 	 	 
	
              1

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            
	
              2

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            
	
              3

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            
	
              4

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            

    

    *Not
      to
      be carried forward to the following calendar year

    
       

      
        	 	(ii) 	If, at the end of any calendar quarter during
                the Initial
                Term, the Total Revenue for such calendar quarter is less than the
                [XXXXX]*.,
                then Network shall, in lieu of the Total Revenue payment, pay the
                portion
                of the [XXXXX]* due for such quarter, provided that Network may recoup
                the
                [XXXXX]* paid in such quarter against subsequent calendar quarters
                during
                such calendar year if the Total Revenue in future quarter(s) exceeds
                the
                [XXXXX]* payable for such quarter(s). In no event will any dollar
                amount(s) payable to Affiliate be carried forward past the expiration
                of
                the Initial Term. The [XXXXX]* for a quarter, if paid in lieu of
                the Total
                Revenue Payment, shall be due and payable no later than forty-five
                (45)
                days following the end of such quarter. The following table provides
                an
                illustration of the recoupment concept and assumes the [XXXXX]* for
                the
                calendar year is $[XXXXX]* (payable in four equal $[XXXXX]* installments
                over such calendar year), and Total Revenue of $[XXXXX]* for the
                first
                quarter, $[XXXXX]* for the second quarter, $[XXXXX]* for the third
                quarter, and $[XXXXX]* for the fourth quarter of such calendar year.
                

      

      
        
           
            

          

        

      

    

    
      * Filed
        under an application for confidential treatment.

      
        

        
          
            
              5

            

          

          
            
              1451
                West
                Cypress Creek Road, Suite 300 ,
                Ft.
                Lauderdale, Florida 33309

            

            
              

            

          

          
            
              March
                6,
                2006      

              Mr.
                John
                E. Reardon

            

          

        

      

    

    
 

    
      	
              Calendar
                Quarter:

            	 	
              $[XXXXX]*

            	 	
              Total
                Revenue:

            	 	
              Amount
                Paid:

            	 	
              Recoupment:

            
	 	 	 	 	 	 	 	 	 
	
              1

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            
	
              2

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            
	
              3

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            
	
              4

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            	 	
              $[XXXXX]*

            

    

    *Not
      to
      be carried forward to the following calendar year

    

    4.  Other
      Terms.

    

    (a)  Network
      is a wholly-owned subsidiary of Tube Media, and Tube Media shall maintain it
      or
      its successor’s existence separate from Tube Media for the term of the
      Agreement. Tube Media shall not issue any equity in Network (or securities
      exchangeable for or convertible into equity of Network) during the Term,
      including any renewal periods.

    

    (b)  Tube
      Media is open to discussion with Affiliate with respect to other financial
      investment opportunities between Tube Media, Network and Affiliate. Tube Media
      hereby grants Affiliate a preemptive right regarding future issuances of equity
      securities of Tube Media (or securities convertible into or exchangeable for
      equity of Tube Media), pursuant to which, if Tube Media proposed to issue equity
      securities (or securities convertible into or exchangeable for equity
      securities), it will give notice to Affiliate and Affiliate will have the right
      to purchase that number of such securities so as to maintain its then-current
      percentage interest in Tube Media, on the same or equivalent terms and
      conditions, including, without limitation, monetary terms and conditions, upon
      which such securities are being issued by Tube Media. This preemptive right
      will
      not apply to issuances of shares of common stock by Tube Media (i) as payment
      for services so long as the aggregate amount of all such issuances does not
      exceed 10% of the total number of shares of common stock outstanding as of
      the
      date of this letter agreement and so long as each share is valued at no less
      than one dollar and fifty cents ($1.50), (ii) to other distributors of the
      Service so long as the aggregate amount of all such issuances does not exceed
      [XXXXX]*shares,
      (iii) to satisfy existing obligations of Tube Media to issue equity as described
      on Exhibit
      4
      hereto,
      (iv) pursuant to Tube Media’s 2004 Stock Option and Stock Incentive Plan or any
      other equity incentive plan approved by Tube Media’s shareholders, including
      issuances of equity securities convertible into or exchangeable for shares
      of
      Tube Media common stock pursuant
      to any such plan; provided, that the maximum number of shares of Tube Media
      common stock issuable under any such plan shall not exceed 10% of the
      outstanding shares of Tube Media common stock as of the date such plan is
      approved by Tube Media’s shareholders, or (v) in connection with a merger or
      consolidation where Tube Media is the surviving corporation or an acquisition
      of
      the stock or assets of a third party by Tube Media. Affiliate must notify Tube
      Media of its intent to exercise its preemptive right with respect to applicable
      issuances of equity securities by Tube Media within ten (10) days after
      receiving notice of such issuances from Tube Media.

     

      

      
        * Filed
          under an application for confidential treatment.

        
          

          
            
              
                6

              

            

            
              
                1451
                  West
                  Cypress Creek Road, Suite 300 ,
                  Ft.
                  Lauderdale, Florida 33309

              

              
                

              

            

            
              
                March
                  6,
                  2006      

                Mr.
                  John
                  E. Reardon

              

            

          

        

      

    

     

    5.  Board
      of Directors 
      Tube
      Media hereby grants Affiliate the right to attend all meetings of the Board
      of
      Directors of Tube Media and Network and all meetings of any committees of such
      Boards of Directors, in each case, solely as a non-voting observer, and to
      receive any information given to such Boards for so long as the Agreement and
      any renewal thereof is in effect.

    

    6.  MFN.
      Network
      agrees that if, in relation to any third party that distributes the Service
      in
      the United States (“Third
      Party”),
      Network or Tube Media during the Term (i) uses a percentage higher than fifteen
      percent (15%) to calculate the Affiliate Advertising Share or Affiliate
      Transactional Share, or (ii) issues equity securities or securities exchangeable
      for or convertible into equity securities, other than warrants or other similar
      rights to purchase such securities, to another distributor of the Service at
      a
      ratio more favorable than [XXXXX]* shares per eleven million (11,000,000) TV
      Households launched, provided that such ratio shall be calculated on an
      aggregate basis with respect to all such issuances to such other distributor
      (each, a “More
      Favorable Provision”),
      Network will promptly offer such More Favorable Provision to Affiliate;
      provided, however, that if the grant of such More Favorable Provision requires
      the performance by such Third Party of any material obligation, term or
      condition that is not already being performed by Affiliate, then Affiliate
      shall
      perform such obligation, term or condition in order to receive such More
      Favorable Provision. For purposes of this paragraph 6, all TV Households in
      the
      DMA of a Broadcast Television station that distributes the Service and all
      TV
      Households actually receiving the Service shall be deemed to be receiving the
      Service.

    

    7.  Confidentiality.
      Neither
      Tube Media nor Affiliate nor Network shall disclose (whether orally or in
      writing, or by press release or otherwise) to any third party outside their
      respective companies (other than their respective officers, directors and
      employees, in their capacity as such, and their respective auditors,
      consultants, financial advisors, lenders, potential buyers or investors and
      attorneys; provided, however, that the disclosing party agrees to be responsible
      for any breach of the provisions of this paragraph 7 by any of such parties)
      the
      terms of this letter or any confidential information received by any
      representative of Affiliate serving as an observer at meetings of the Tube
      Media
      Board of Directors pursuant to Section 5 of this letter, except, in each case:
      (a) to the Auditor as provided in Section 7(d) of the Agreement;
      (b) to the extent necessary to comply with the valid order or compulsory
      process of an administrative agency or a court of competent jurisdiction, in
      which event the party making such disclosure shall so notify the other as
      promptly as practicable (and, if possible, prior to making such disclosure);
      (c) in accordance with the regulations of the U.S. Securities and Exchange
      Commission, any securities exchange or over the counter market on which such
      party (or its parent company) is listed, or otherwise as required by law; (d)
      in
      order to enforce its rights pursuant to this letter and/or the Agreement; or
      (e) if collectively agreed by Tube Media, Affiliate and Network, in advance
      of such disclosure, in writing. Any representative that attends meetings of
      the
      Tube Media Board of Directors pursuant to Section 5 of this letter agreement
      on
      Affiliate’s behalf shall be subject to all confidentiality restrictions
      commensurate with those imposed on voting board members as required by any
      applicable law and Tube Media’s and Network’s corporate documents as in effect
      on the date hereof, and Affiliate will cause any such representative of
      Affiliate to comply with the provisions of this paragraph 7. Affiliate will
      further cause its representative to execute any standard confidentiality
      agreement as may be reasonably required by Tube Media. This paragraph 7 shall
      survive the termination of this letter and/or the Agreement.

    

      
        
          
            
              
                7

              

            

            
              
                1451
                  West
                  Cypress Creek Road, Suite 300 ,
                  Ft.
                  Lauderdale, Florida 33309

              

              
                

              

            

            
              
                March
                  6,
                  2006      

                Mr.
                  John
                  E. Reardon

              

            

          

        

      

    

    
 

    8.  Early
      Termination

    

    (a)  Affiliate
      shall have the right to terminate the Agreement upon at least forty-five (45)
      days’ prior written notice to Network if the Service is being distributed, in
      the aggregate, to a Percentage of TV Households (as defined below) that is
      less
      than the “Threshold Percentage of Television Households” specified opposite the
      applicable date in the table below; provided, however, that Affiliate must
      exercise such right within sixty (60) days after receipt of the applicable
      year-end report referenced below or such right shall be deemed waived. The
      “Percentage
      of TV Households”
shall
      mean the percentage obtained by dividing (i) the number of TV Households deemed
      to be receiving the Service pursuant to this paragraph 8(a) by (ii) the number
      of TV Households in the United States. For purposes of this paragraph 8(a)
      only,
      all TV Households in the DMA of a full-power television station distributing
      the
      Service and all TV Households actually receiving the Service shall be deemed
      to
      be receiving the Service and all Stations listed on Exhibit
      A
      of the
      Agreement shall be deemed to be distributing the Service. Network shall provide
      reports to Affiliate identifying the Broadcast Television stations broadcasting
      the Service, the number of TV Households in the DMA of each such station, and
      the Percentage of TV Households as of June 30 and December 31 of each year
      during the Initial Term of the Agreement. These reports will be provided to
      Affiliate no later than August 15 and February 15, respectively.

    

    (b)  Affiliate
      shall have the right to terminate the Agreement upon at least forty-five (45)
      days’ prior written notice to Network if the Service is being distributed, in
      the aggregate, to a Percentage of Cable Households (as defined below) that
      is
      less than the “Threshold Percentage of Cable Households” specified opposite the
      applicable date in the table below; provided, however, that Affiliate must
      exercise such right within sixty (60) days after receipt of the applicable
      year-end report referenced below or such right shall be deemed waived. The
      “Percentage
      of Cable Households”
shall
      mean the percentage obtained by dividing (i) the number of TV Households deemed
      to be receiving the Service pursuant to this paragraph 8(b) from a multiple
      system operator (“MSO”)
      by
      (ii) the number of TV Households in the United States that receive linear video
      television programming services from an MSO. For purposes of this paragraph
      8(b)
      only, the total number of TV Households subscribing to any services, tier,
      level
      of service or package of services offered by an MSO that carries the Service
      shall be deemed to be receiving the Service (regardless of whether the Service
      is carried on such tier, level of service or package of services) and each
      MSO
      in the DMA of a Station listed on Exhibit
      A
      of the
      Agreement shall be deemed to be carrying the Service. Network shall provide
      reports to Affiliate identifying the MSOs distributing the Service, the number
      of TV Households served by each such MSO, and the Percentage of Cable Households
      as of June 30 and December 31 of each year during the Initial Term of the
      Agreement. These reports will be provided to Affiliate no later than August
      15
      and February 15, respectively.

     
      
        
          

          
            
              
                8

              

            

            
              
                1451
                  West
                  Cypress Creek Road, Suite 300 ,
                  Ft.
                  Lauderdale, Florida 33309

              

              
                

              

            

            
              
                March
                  6,
                  2006      

                Mr.
                  John
                  E. Reardon

              

            

          

        

      

    

     

    Table
      of Distribution Milestones

    

    
      	
               

               

              Date

            	 	
              Threshold
                Percentage

               of
                Television 

              Households

            	 	
              Threshold
                

              Percentage
                of 

              Cable
                Households

            
	 	 	 	 	 
	
              December
                31, 2006

            	 	
              50%

            	 	
              35%

            
	
              June
                30, 2007

            	 	
              75%

            	 	
              50%

            
	
              December
                31, 2007

            	 	
              80%

            	 	
              60%

            
	
              December
                31, 2008

            	 	
              80%

            	 	
              60%

            
	
              December
                31, 2009

            	 	
              85%

            	 	
              70%

            

    

     

    9.  Termination
      for Breach

     

    Notwithstanding
      the provisions of the Agreement, any breach involving failure to pay any amount
      due under this letter must be cured within ten (10) days after notice. A breach
      involving Network’s failure to pay an amount due to Affiliate pursuant to
      paragraph 3 above shall be deemed a breach as to Affiliate rather than as to
      a
      particular Station or Stations.

    

    10.  Counterparts

    

    This
      letter may be executed in counterparts, each of which will have the full force
      and effect of a fully-executed original. This letter may be executed by each
      or
      either party by delivering signed signature pages thereof to the other party
      by
      facsimile. Any party delivering an executed counterpart of this letter by
      facsimile shall also deliver to the other party an original executed counterpart
      of this letter, but the failure to do so does not affect the validity,
      enforceability or binding effect of this letter.

     

    
      
        
          

          
            
              
                9

              

            

            
              
                1451
                  West
                  Cypress Creek Road, Suite 300 ,
                  Ft.
                  Lauderdale, Florida 33309

              

              
                

              

            

            
              
                March
                  6,
                  2006      

                Mr.
                  John
                  E. Reardon

              

            

          

        

      

    

    
 

    Please
      acknowledge your acceptance of the above terms, by signing where indicated
      below.

     

    
      
        	Very truly yours,	 	 	 
	 	 	 	 	 
	THE
                TUBE MEDIA
                CORP.	 	 THE
                TUBE MUSIC
                NETWORK, INC.
	 	 	 	 	 
	 	 	 	 	 
	By: 	/s/ John
                W.
                Poling	 	
                By:

              	/s/ Les
                Garland
	 	
                
John
                W. Poling	 	 	
                
Les
                Garland
	 	Executive
                Vice
                President & CFO 	 	 	President
&
                CEO

      

    ACKNOWLEDGED
      AND ACCEPTED BY:

    

    TRIBUNE
      BROADCASTING COMPANY

    
       

      
        
          	 	 	 	 	 
	By: 	/s/ John
                  E.
                  Reardon	 	
                   

                	 
	 	
                  
John
                  E. Reardon	 	 	
                
	 	President	 	 	 

        

        
           

        

      

    

    
      [Signature
        page:  Letter agreement by and between The TUBE Music Network, Inc. and
        Tribune Broadcasting Company]

       

    

    
    

    
      
        
          
            
              
                10

              

            

          

          
            
              1451
                West
                Cypress Creek Road, Suite 300 ,
                Ft.
                Lauderdale, Florida 33309

            

            
              

            

          

          
            
              March
                6,
                2006      

              Mr.
                John
                E. Reardon

            

          

        

      

    

     

    Exhibit
      1

    Form
      of Warrant

     

    [The
      Warrant was filed as an Exhibit to the Form 8-K]

     

     

    
      
        
          11

        

      

      
        
          1451
            West
            Cypress Creek Road, Suite 300 ,
            Ft.
            Lauderdale, Florida 33309

        

        
          

        

      

      
        
          March
            6,
            2006      

          Mr.
            John
            E. Reardon

        

      

    

     

    Exhibit
      2

    Television
      Households by Tribune Market

     

    
      	
              2006
                Rank

            	 	
              DMA

            	 	
              2006

              TV
                HH

            	 	
              2006

              %
                US TV HH

            	 	
              Shares
                Issued 

              Pursuant
                to ¶2b

            	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              1

            	 	 	
              New
                York

            	 	 	
              7,375,530

            	 	 	
              6.692

            	
              %

            	 	
              [XXXXX]*

            	 
	
              2

            	 	 	
              Los
                Angeles

            	 	 	
              5,536,430

            	 	 	
              5.023

            	
              %

            	 	
              [XXXXX]*

            	 
	
              3

            	 	 	
              Chicago

            	 	 	
              3,430,790

            	 	 	
              3.113

            	
              %

            	 	
              [XXXXX]*

            	 
	
              4

            	 	 	
              Philadelphia

            	 	 	
              2,925,560

            	 	 	
              2.654

            	
              %

            	 	
              [XXXXX]*

            	 
	
              5

            	 	 	
              Boston
                (Manchester)

            	
               

            	 	
              2,375,310

            	 	 	
              2.155

            	
              %

            	 	
              [XXXXX]*

            	 
	
              7

            	 	 	
              Dallas
                - Ft. Worth

            	 	 	
              2,336,140

            	 	 	
              2.120

            	
              %

            	 	
              [XXXXX]*

            	 
	
              8

            	 	 	
              Washington
                DC (Hagerstown)

            	
               

            	 	
              2,252,550

            	 	 	
              2.044

            	
              %

            	 	
              [XXXXX]*

            	 
	
              9

            	 	 	
              Atlanta

            	 	 	
              2,097,220

            	 	 	
              1.903

            	
              %

            	 	
              [XXXXX]*

            	 
	
              10

            	 	 	
              Houston

            	 	 	
              1,938,670

            	 	 	
              1.759

            	
              %

            	 	
              [XXXXX]*

            	 
	
              13

            	 	 	
              Seattle-
                Tacoma

            	 	 	
              1,701,950

            	 	 	
              1.544

            	
              %

            	 	
              [XXXXX]*

            	 
	
              17

            	 	 	
              Miami
                - Ft. Lauderdale

            	 	 	
              1,522,960

            	 	 	
              1.382

            	
              %

            	 	
              [XXXXX]*

            	 
	
              18

            	 	 	
              Denver

            	 	 	
              1,415,180

            	 	 	
              1.284

            	
              %

            	 	
              [XXXXX]*

            	 
	
              19

            	 	 	
              Sacramento
                - Stockton - Modesto

            	 	 	
              1,345,820

            	 	 	
              1.221

            	
              %

            	 	
              [XXXXX]*

            	 
	
              21

            	 	 	
              St.
                Louis

            	 	 	
              1,222,380

            	 	 	
              1.109

            	
              %

            	 	
              [XXXXX]*

            	 
	
              23

            	 	 	
              Portland,
                OR

            	 	 	
              1,099,890

            	 	 	
              0.998

            	
              %

            	 	
              [XXXXX]*

            	 
	
              25

            	 	 	
              Indianapolis

            	 	 	
              1,053,750

            	 	 	
              0.956

            	
              %

            	 	
              [XXXXX]*

            	 
	
              26

            	 	 	
              San
                Diego

            	 	 	
              1,026,160

            	 	 	
              0.931

            	
              %

            	 	
              [XXXXX]*

            	 
	
              28

            	 	 	
              Hartford
                & New Haven

            	 	 	
              1,013,350

            	 	 	
              0.919

            	
              %

            	 	
              [XXXXX]*

            	 
	
              39

            	 	 	
              Grand
                Rapids - Kalamazoo - Battle Creek

            	 	 	
              731,630

            	 	 	
              0.664

            	
              %

            	 	
              [XXXXX]*

            	 
	
              41

            	 	 	
              Harrisburg
                - Lancaster - Lebanon - York

            	 	 	
              707,010

            	 	 	
              0.641

            	
              %

            	 	
              [XXXXX]*

            	 
	
              55

            	 	 	
              Albany
                - Schenectady - Troy

            	 	 	
              552,250

            	 	 	
              0.501

            	
              %

            	 	
              [XXXXX]*

            	 
	
              TOTALS

            	 	 	 	 	 	
              43,660,530

            	 	 	
              39.614

            	
              %

            	 	
              [XXXXX]*

            	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
              TOTAL
                US TV HH

            	 	 	 	 	 	
              110,213,910

            	 	 	
              100.000

            	
              %

            	 	 	 

    

     

     

    Source:
      Nielsen Media Research 2005-2006 Local Market
      Universe Estimates

     

    
       

      
        
          
            12

          

        

        
          
            1451
              West
              Cypress Creek Road, Suite 300 ,
              Ft.
              Lauderdale, Florida 33309

          

          
            

          

        

        
          
            March
              6,
              2006      

            Mr.
              John
              E. Reardon

          

        

      

       

    

    Exhibit
      3

    Form
      of Securities Issuance Agreement

     

    
      [The
        Securities Issuances Agreement was filed as an Exhibit to the Form
        8-K]

       

    

     

     

     

    
      
        
          
            13

          

        

        
          
            1451
              West
              Cypress Creek Road, Suite 300 ,
              Ft.
              Lauderdale, Florida 33309

          

          
            

          

        

        
          
            March
              6,
              2006      

            Mr.
              John
              E. Reardon

          

        

      

    Exhibit
      4

    Capitalization
      of The Tube Media Corp.

     

    
      [Intentionally
        Omitted]

       

    

     

     

    
      
        
          
            14

          

        

        
          
            1451
              West
              Cypress Creek Road, Suite 300 ,
              Ft.
              Lauderdale, Florida 33309Exhibit
      10.3

    SECURITIES
      ISSUANCE AGREEMENT

    This
      Securities Issuance Agreement (the “Agreement”) is made as of March 6, 2006, by
      and between The Tube Media Corp., a Delaware corporation (the “Corporation”),
      and Tribune Broadcasting Company (“TBC”).

     

    Any
      capitalized terms used hereunder which are not separately defined in this
      Agreement shall have the meaning ascribed to such terms in the Charter
      Affiliation Agreement of even date herewith between The Tube Music Network,
      Inc.
      and TBC or the Letter Agreement of even date herewith by and among the
      Corporation, The Tube Music Network, Inc. and TBC.

     

    The
      Corporation and TBC hereby agree as follows:

     

    SECTION
      1.  

    

    Authorization
      and Issuance of the Stock

    1.1     Authorization
      of the Stock.
      The
      Corporation has authorized the issuance to TBC of (i) shares of the
      Corporation’s common stock, par value $.0001 per share (the “Stock”), in the
      amounts set forth in subparagraphs (a) and (b) below and (ii) warrants to
      purchase shares of Stock as set forth in subparagraphs (c) and (d) below,
      pursuant to the terms of the Charter Affiliation Agreement between The Tube
      Music Network, Inc. and TBC of even date herewith (the “Charter Affiliation
      Agreement”) and the letter agreement dated of even date herewith between the
      Corporation, The Tube Music Network, Inc. and TBC, which is a part of the
      Charter Affiliation Agreement (the “Letter Agreement”):

     

    (a)     Pursuant
      to paragraph 2(a) of the Letter Agreement, within ten (10) days after execution
      of this Agreement, the Corporation shall issue and deliver to TBC
      [XXXXX]* 
      shares
      of Stock.

     

    (b)     From
      time
      to time upon TBC’s satisfaction of the terms and conditions set forth in
      paragraphs 2(b) and 2(c) of the Letter Agreement, the Corporation shall issue
      and deliver to TBC up to [XXXXX]* shares of Stock.

     

    (c)     Pursuant
      to paragraph 1(a) of the Letter Agreement, within ten (10) days after the
      execution of this Agreement, the Corporation shall issue and deliver to TBC
      a
      common stock purchase warrant to acquire [XXXXX]* shares of Stock, at a purchase
      price of two dollars and twenty-five cents ($2.25) per share. The warrant will
      be in the form attached as an exhibit to the Letter Agreement.

     

    (d)     Upon
      TBC’s satisfaction of the terms and conditions set forth in paragraph 1(b) of
      the Letter Agreement, the Corporation shall issue and deliver to TBC a common
      stock purchase warrant to acquire [XXXXX]* shares of Stock, at a purchase price
      of two dollars and fifty cents ($2.50) per share. The warrant will be in the
      form attached as an exhibit to the Letter Agreement. Each of the warrants issued
      pursuant to Sections 1.1(c) and 1.1(d) shall be referred to herein as the
“Warrants” and the related warrant agreements shall be referred to herein as the
“Warrant Agreements.”

     

    ______________________________

    
      *
        Filed
        under an application for confidential treatment.

       

      
        
          
          

        

        
          -1-

          
            

          

        

        
          
          

        

         

      

    

    1.2     Issuance
      of the Stock and the Warrants.
      At each
      Closing (as defined herein), subject to the terms and conditions hereof and
      in
      reliance upon the representations, warranties and agreements contained herein,
      the Corporation agrees to issue to TBC at such Closing, that number of shares
      of
      Stock and/or Warrants, in each case, as set forth in Section 1.1
      above.

     

    1.3     Registration
      Rights Agreement.
      On the
      date hereof, the Corporation and TBC shall each execute and deliver the
      Registration Rights Agreement in the form attached hereto as Exhibit A.

     

    SECTION
      2.  

    Closing
      and Delivery

     

    2.1     Closing
      Date and Place of Closing.
      The
      issuances of the Stock and/or Warrants set forth in Section 1.1 shall take
      place
      at the offices of the Corporation, at the time of the closing of the Charter
      Affiliation Agreement or upon the occurrence of the events set forth in
      subparagraphs (a), (b), (c), and (d) of Section 1.1, or at such other time
      and
      place as the Corporation and TBC mutually agree upon orally or in writing (each
      such time and place are designated as the “Closing”).

     

    2.2     Delivery.
      Promptly after each of the Closings, the Corporation will deliver to TBC, as
      applicable, a stock certificate(s) representing the Stock to be issued arising
      from such Closing and/or a Warrant Agreement representing the Warrants to be
      issued arising from such Closing.

     

    2.3     Covenant
      of Best Efforts and Good Faith.
      The
      Corporation and TBC agree to use their respective best efforts and to act in
      good faith to cause to occur all conditions to Closing which are in their
      respective control.

     

    SECTION
      3.  

    Representations
      and Warranties of the Corporation

     

    The
      Corporation hereby represents and warrants to TBC, on the date hereof and at
      the
      time of each issuance of Stock or Warrants hereunder, that:

     

    3.1     Incorporation.
      The
      Corporation is a corporation duly organized, validly existing and in good
      standing under the laws of the State of Delaware and is qualified to do business
      in each jurisdiction in which the character of its properties or the nature
      of
      its business requires such qualification. Each of the Corporation’s Subsidiaries
      is a corporation duly organized, validly existing and in good standing under
      the
      laws of the jurisdiction of its incorporation and is qualified to do business
      in
      each jurisdiction in which the character of its properties or the nature of
      its
      business requires such qualification. The Corporation and each of its
      Subsidiaries has all requisite corporate power and authority to carry on their
      respective businesses as now conducted. For the purposes of this Agreement,
      “Subsidiaries” shall mean The Tube Music Network, Inc., AGU Music, Inc., AGU
      Studios Inc., and 3200 Oakland Park Inc.

     

    3.2     Authorization.
      All
      corporate action on the part of the Corporation and the Subsidiaries and their
      respective officers, directors and stockholders necessary for the authorization,
      execution, delivery and performance of this Agreement and the Letter Agreement,
      the Registration Rights Agreement and the Warrant Agreements (collectively,
      the
“Transaction
      Documents”
)
      and
      the consummation of the transactions contemplated herein and therein has been
      taken, including the issuance and delivery of the shares of Stock and the
      Warrants. When executed and delivered by the Corporation, this Agreement and
      the
      Transaction Agreements shall constitute the legal, valid and binding obligations
      of the Corporation, enforceable against the Corporation in accordance with
      their
      respective terms, except (i) as limited by bankruptcy, insolvency,
      reorganization, moratorium and other laws of general application affecting
      enforcement of creditors’ rights generally and (ii) as limited by laws relating
      to the availability of specific performance, injunctive relief or other
      equitable remedies. The Corporation has all requisite corporate power to enter
      into this Agreement and the Transaction Agreements and to carry out and perform
      its obligations under the terms of this Agreement and the Transaction
      Agreements.

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    3.3     Valid
      Issuance of the Stock and Warrants.
      The
      Stock being issued to TBC hereunder, and the Warrants and the shares of Stock
      that may be purchased upon exercise of the Warrants (the “Warrant Shares”) will,
      upon issuance pursuant to the terms hereof, be duly authorized and validly
      issued, fully paid, nonassessable and free of any liens, charges, restrictions,
      claims, preemptive rights or other encumbrances and will, assuming the accuracy
      of the representations and warranties made by TBC to the Corporation, be issued
      in compliance with applicable state and federal securities laws.

     

    3.4     Consents.
      All
      consents, approval, orders, authorizations, registrations, qualifications,
      and
      filings required on the part of the Corporation or its Subsidiaries to be
      obtained or made prior to the Closing in connection with the execution, delivery
      or performance of this Agreement and the Transaction Agreements, and the
      consummation of the transactions contemplated herein and therein, including
      the
      issuance of the Stock and the Warrants, have been obtained or made or will
      be
      obtained or made, prior to the Closing.

     

    3.5     No
      Conflict.
      The
      execution and delivery of this Agreement or any of the Transaction Agreements
      by
      the Corporation or any of its Subsidiaries and the consummation of the
      transactions contemplated hereby and thereby, including the issuance of the
      Stock and the Warrants, will not conflict with or result in any violation of
      or
      default (with or without notice or lapse of time, or both) under, or give rise
      to a right of termination, cancellation or acceleration of any obligation or
      to
      a loss of a material benefit or give rise to an event which results in the
      creation of any lien, charge, restriction, claim or other encumbrance upon
      any
      of the Corporation’s properties or assets under (i) any provision of the
      Certificate of Incorporation or Bylaws of the Corporation or (ii) any agreement
      or instrument, permit, franchise, license, judgment, order, statute, law,
      ordinance, rule or regulations, applicable to the Corporation, its Subsidiaries
      or any of their respective properties or assets.

     

    3.6     Brokers
      or Finders.
      Neither
      the Corporation nor any of its Subsidiaries has dealt with any broker or finder
      in connection with the transactions contemplated by this Agreement or any of
      the
      Transaction Agreements, and neither the Corporation nor any of its Subsidiaries
      has incurred, and shall not incur, directly or indirectly, any liability for
      any
      brokerage or finders’ fees or agents commissions or any similar charges in
      connection with this Agreement, the Transaction Agreements or any transaction
      contemplated hereby or thereby.

    

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

    

    SECTION
      4.  

    Representations
      and Warranties of TBC

     

    TBC
      hereby represents, warrants and covenants to the Corporation, on the date hereof
      and at the time of each issuance of Stock or Warrants hereunder,
      that:

     

    4.1     Authorization.
      TBC has
      full right, power and authority to enter into this Agreement and each of the
      Transaction Agreements, and such agreements constitute its valid and legally
      binding obligation, enforceable in accordance with its terms, except (i) as
      limited by applicable bankruptcy, insolvency, reorganization, moratorium and
      other laws of general application affecting enforcement of creditors’ rights
      generally and (ii) as limited by laws relating to the availability of specific
      performance, injunctive relief or other equitable remedies.

     

    4.2     Entirely
      for Own Account.
      This
      Agreement and each of the Transaction Agreements is made with TBC in reliance
      upon TBC’s representation to the Corporation, which by TBC’s execution of this
      Agreement TBC hereby confirms, that the Stock to be received by TBC is for
      investment for TBC’s own account, not as a nominee or agent, and not with a view
      to the resale or distribution of any part thereof, and that TBC has no present
      intention of selling, granting any participation in or otherwise distributing
      the same. By executing this Agreement, TBC further represents that TBC does
      not
      have any contract, undertaking, agreement or arrangement with any person to
      sell, transfer or grant participations to such person or to any third person,
      with respect to any of the Stock.

     

    4.3     Disclosure
      of Information.
      TBC
      believes it has received all the information it considers necessary or
      appropriate for deciding whether to take possession the Stock. TBC further
      represents that it has had an opportunity to ask questions and receive answers
      from the Corporation regarding the terms and conditions of the offering of
      the
      Stock and the business, properties, prospects and financial condition of the
      Corporation.

     

    4.4     Investment
      Experience.
      TBC
      acknowledges that it can bear the economic risk of its investment, and has
      such
      knowledge and experience in financial or business matters that it is capable
      of
      evaluating the merits and risks of the investment in the Stock. TBC also
      represents it has not been organized for the purpose of taking the possession
      of
      the Stock.

     

    4.5     Accredited
      Investor.
      TBC is
      an “accredited investor” within the meaning of SEC Rule 501 of Regulation D as
      presently in effect.

     

    4.6     Restricted
      Securities.
      TBC
      understands that the Stock it is receiving constitutes “restricted securities”
under the federal securities laws inasmuch as they are being issued by the
      Corporation in a transaction not involving a public offering and that under
      such
      laws and applicable regulations such shares of Stock may be resold without
      registration under the Securities Act only in certain limited circumstances.
      In
      the absence of an effective registration statement covering the Stock or an
      available exemption from registration under the Securities Act, the Stock must
      be held indefinitely. In this connection, TBC represents that it is familiar
      with SEC Rule 144, as presently in effect, and understands the resale
      limitations imposed thereby and by the Securities Act, including without
      limitation the Rule 144 condition that current information about the Corporation
      be available to the public.

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

    4.7  
      Transfer
      Restrictions.

     

    (a)  The
      Stock, Warrants, and Stock acquired on the exercise of the Warrants may only
      be
      disposed of in compliance with state and federal securities laws. In connection
      with any transfer of Stock, Warrants, and Stock acquired on the exercise of
      the
      Warrants other than pursuant to an effective registration statement, the
      Corporation may require the transferor thereof to provide to the Corporation
      an
      opinion of counsel selected by the transferor, the form and substance of which
      opinion shall be reasonably satisfactory to the Company, to the effect that
      such
      transfer does not require registration of such transferred securities under
      the
      Securities Act. As a condition of transfer, any such transferee shall agree
      in
      writing to be bound by the terms of this Agreement and the Registration Rights
      Agreement and shall have the rights of TBC under this Agreement and the
      Registration Rights Agreement, provided, that the foregoing shall not apply
      to a
      transfer of securities pursuant to an effective registration
      statement.

     

    (b)  TBC
      agrees to the imprinting, so long as is required by
      applicable federal and state securities laws, of
      a
      legend on any of the Stock, Warrants or Stock acquired upon the exercise of
      the
      Warrants in the following form: 

    With
      respect to certificates representing Stock (including Warrant
      Shares):

     

    THESE
      SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION,
      OR THE SECURITIES COMMISSION OF ANY STATE, IN RELIANCE UPON AN EXEMPTION FROM
      REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
      ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
      EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
      AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
      REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
      SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR
      TO
      SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE
      COMPANY. 

     

    With
      respect to the Warrants:

     

    THE
      EXERCISE OF THIS WARRANT HAS NOT BEEN REGISTERED WITH THE SECURITIES AND
      EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE. THIS WARRANT
      MAY
      ONLY BE EXERCISED PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”) AND APPLICABLE
      SECURITIES LAWS. AS A CONDITION PRECEDENT TO THE EXERCISE OF THIS WARRANT,
      THE
      COMPANY MAY REQUIRE SUCH CERTIFICATES AND OPINIONS OF COUNSEL AS IT DEEMS
      REASONABLY NECESSARY FROM THE PERSON EXERCISING THIS WARRANT TO ESTABLISH THE
      EXISTENCE OF SUCH EXEMPTIONS. 

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

     

    NEITHER
      THESE SECURITIES NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
      HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
      SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
      REGISTRATION UNDER THE SECURITIES ACT,
      AND,
      ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
      EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
      REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE
      SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR
      TO
      SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE
      COMPANY.

    THIS
      WARRANT IS SUBJECT TO OTHER RESTRICTIONS ON TRANSFER AS SET FORTH IN A
      SECURITIES ISSUANCE AGREEMENT, THE FORM OF WHICH IS AVAILABLE FROM THE COMPANY.
      

     

    (c)  Certificates
      evidencing the Stock, including Warrant Shares, shall not contain any legend
      (including the legend set forth in Section 4.7 hereof): (i) following any sale
      of such Stock pursuant to an effective registration statement under the
      Securities Act or pursuant to Rule 144, or (ii) if such Stock is eligible for
      sale under Rule 144(k), provided that, in each case, TBC provides a copy of
      such
      certificates or confirmations as the
      Corporation reasonably
      requests.

     

    4.8     TBC
      Counsel.
      TBC
      acknowledges that it and, if applicable, its advisors has had the opportunity
      to
      review this Agreement, the exhibits and schedules attached hereto and the
      transactions contemplated by this Agreement with such TBC’s own legal counsel.
      TBC is relying solely on such TBC’s legal counsel and not on the Corporation’s
      legal counsel, for legal advice with respect to this investment or the
      transactions contemplated by this Agreement.

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

     

    SECTION
      5. 

    Miscellaneous

     

    5.1     Governing
      Law.
      This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Delaware.

     

    5.2     Successors
      and Assigns.
      Except
      as otherwise expressly provided herein, the provisions hereof shall inure to
      the
      benefit of and be binding upon the successors and assigns of the
      parties.

     

    5.3     Entire
      Agreement; Amendment.
      This
      Agreement and the Transaction Agreements and the other documents delivered
      pursuant hereto or thereto constitute the full and entire understanding and
      agreement between the parties with regard to the subjects hereof and thereof.
      Neither this Agreement nor any term hereof may be amended, waived, discharged
      or
      terminated except by a written instrument signed by the Corporation and
      TBC.

     

    5.4     Notices,
      etc.
      All
      notices and other communications required or permitted hereunder shall be mailed
      by internationally recognized courier service and facsimile addressed (a) if
      to
      TBC, as indicated below TBC’s signature with a copy to the designated entity or
      at such other address as TBC shall have furnished to the Corporation in writing
      or if to the Corporation, at its address set forth below or at such other
      address as the Corporation shall have furnished to TBC in writing. All such
      notices or communications shall be deemed given when delivered personally by
      courier, by internationally recognized courier or by facsimile.

     

    5.5     Delays
      or Omissions.
      No
      delay or omission to exercise any right, power or remedy accruing to any party
      to this Agreement, upon any breach or default or another party under this
      Agreement, shall impair any such right, power or remedy of such party nor shall
      it be construed to be a waiver of any such breach or default, or an acquiescence
      therein, or of or in any similar breach or default thereafter occurring; nor
      shall any waiver of any single breach or default be deemed a waiver of any
      other
      breach or default theretofore or thereafter occurring. All remedies, either
      under this Agreement or by law or otherwise afforded to any party, shall be
      cumulative and not alternative.

     

    5.6     Severability.
      In case
      any provision of this Agreement shall be invalid, illegal or unenforceable,
      the
      validity, legality and enforceability of the remaining provisions shall not
      in
      any way be affected or impaired thereby.

    

    5.7     Titles
      and Subtitles.
      The
      titles of the Sections and subsections of this Agreement are for convenience
      of
      reference only and are not to be considered in construing this
      Agreement.

     

    5.8     Counterparts.
      This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      an original, but all of which together shall constitute one
      instrument.

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

    5.9 Fees
      and Expenses.
      The
      parties hereto shall pay their own costs and expenses in connection
      herewith.

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

    

    IN
      WITNESS WHEREOF, the parties have caused this Agreement to be executed and
      delivered by their duly authorized officers as of the day and year first written
      above.

     

    
      	 	 	 
	 	THE
              TUBE MEDIA
              CORP.
	 
 	 
 	 
 
	 	By:  	/s/
              David C. Levy
	 	
              
Name: David
              C. Levy
	 	Title: President
	  	 

              Address:
                1451 West Cypress Creek Road,

                              
                Suite 300

                              
                Fort Lauderdale, FL 33309

            

    

     

     

    

    
      
        	 	 	 
	 	 TRIBUNE
                BROADCASTING COMPANY
	 
 	 
 	 
 
	 	By:  	 /s/
                John E.
                Reardon
	 	
                
Name: John
                E. Reardon
	 	Title: President
	 	 

                Address:
                  435 North Michigan Avenue, Suite 1800

                                 
                  Chicago, IL 60611

              

      

    

    

    
      
        
        

      

      
        -9-

        
          

        

      

      
        
        

      

    

    
       

    

    Exhibit
      A

    

    Registration
      Rights Agreement

     

    [The
      Registration Rights Agreement was filed as an
      Exhibit to the Form 8-K]

    

    
      
         

        
          
            
            

          

          
            -10-

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