Document:

Exhibit 10.11

STATE OF TEXAS

COUNTY OF TARRANT             KNOW ALL MEN BY THESE PRESENTS that:

      Van Eynesbergen and Holland Partnership (hereinafter called "Seller,"
whether one or more) hereby sells and agrees to convey to Hispanic Television
Network, Inc., trustee and/or assigns (hereinafter called "Purchaser," whether
one or more) and Purchaser hereby buys and agrees to pay for the following
described real estate situated in Tarrant County, Texas, to wit:

      6125 Airport Freeway
      Fort Worth, TX

      Lot 12, 13 and 14, Block 15,  Parkdale  Gardens / including  North
      Parking Lot

      an  addition  to the  City  of Fort  Worth,  now in  Haltom  City,
      Tarrant  County,  Texas  according to the Plat  recorded in Volume
      1607, Page 287, Deed Records, Tarrant County, Texas

together with, all and singular, all improvements thereon and all rights and
appurtenances pertaining thereto, including any right, title and interest of
Seller in and to adjacent streets, alleys, or rights-of-way, such real estate,
improvements, rights and appurtenances being herein referred to as the
"Property." This Contract and the Property also covers and includes all fixtures
and articles of personal property attached to said real estate and owned by
Seller, such as air conditioning and heating equipment.

      This Contract is executed upon the following terms and conditions:

     1. Purchase Price. The purchase price for the Property if $800,000 payable
as follows:

          A. $ ALL in cash.

      Any prior Note or Notes to be executed by Purchaser hereunder shall be
secured by vendor's lien by deed of trust with power of attorney containing such
covenants to taxes, insurance, default and other matters as Seller may
reasonably require.

     2. Earnest Money. Upon full and final execution of this Contract, Purchaser
shall deliver the sum of $80,000.00 to SAFECO Title Company, Ft. Worth, Texas
("Title Company") to be held by the Title Company as Earnest Money herein so
called pursuant to the terms of this Contract.

     3. Survey and Title Binder.

          A. Within ten (10) days after the date of this Contract, Seller shall,
at Seller's expense, deliver or cause to be delivered to Purchaser, a copy of a
current on-the-ground survey ("Survey") of the Property made by a duly licensed
surveyor reasonably acceptable to the Purchaser. The Survey shall be in a form
acceptable to the Title Company in order to allow the Title Company to delete
the survey exception (except as to "shortages in area") from the Title Policy to
be issued by the Title Company. The Survey shall show the location of all
improvements on the Property, if any. If this Contract does not close through no
fault of Seller, in addition to the other rights of Seller hereunder, Purchaser
shall pay for the Survey.

          B. Within ten (10) days after the date of this Contract, Seller shall,
at Seller's expense, deliver or cause to be delivered to Purchaser:

               (1)  A title commitment ("Title Binder") covering the Property
                    binding the Title Company to issue a Texas Owner's Policy of
                    Title Insurance on the standard form of policy prescribed by
                    the Texas State Board of Insurance at the Closing in the
                    full amount of the Purchase price; and

               (2)  True, correct, and legible copies of any and all instruments
                    referred to in the Title Binder as constituting exceptions
                    or restrictions upon the title of Seller, except that copies
                    of any liens which are to be released as the closing may be
                    omitted.

     4. Approval Period and Title.

          A. Purchaser shall have fourteen (14) days after the receipt of the
Survey and Title Binder to review them and to deliver in writing to Seller such
objections as Purchaser may have to anything contained in them. Any such item to
which Purchaser shall not object shall be deemed a "Permitted Exception." If
there are objections by Purchaser, Seller shall in good faith attempt to satisfy
them prior to closing but Seller shall not be required to incur any cost to do
so. If Seller delivers written notice to Purchaser on or before the closing date
that Seller is unable to satisfy such objections, or if, for any reason, Seller
is unable to convey title in accordance with Section 7(b) below, Purchaser may
either waive such objections and accept title as Seller is able to convey or
terminate this Contract by written notice to Seller. Zoning ordinances and the
lien for current taxes shall be deemed to be Permitted Exceptions.

          B. Seller represents and warrants to Purchaser that at the closing
Seller will have and will convey to Purchaser good and marketable title to the
Property free and clear of any and all encumbrances except the Permitted
Exceptions. Delivery of the Title Policy pursuant to Section 7 below shall be
deemed to fulfill all duties of Seller as to the sufficiency of title required
hereunder; provided, however, Seller shall not thereby be released from the
warranties of Seller's Deed.

     5. [Intentionally omitted.]

     6. Casualty Loss. All risk of loss to the Property shall remain upon Seller
prior to the closing. If, prior to the closing, the Property shall be damaged or
destroyed by fire or other casualty, to a material extent, Purchaser may either
terminate this Contract by written notice to Seller or close. If Purchaser
elects to close, despite said material damage or destruction, there shall be no
reduction in the purchase price, and Seller shall assign to Purchaser Seller's
right, title and interest in and to all insurance proceeds resulting or to
result from said damage or destruction. Unless otherwise provided herein, the
term "material" shall mean damage or destruction, the cost of repairing which
exceeds ten percent (10%) of the purchase price. In the event of less than
material damage or destruction to the Property prior to the closing, Seller
shall either repair the same prior to the closing, at Seller's expense, or
reimburse Purchaser for the cost of repairing the same by assigning any
insurance proceeds resulting therefrom to Purchaser and/or by allowing Purchaser
to deduct such cost from the cash payable to Seller at the closing. If the
extent of damage or the amount of insurance proceeds to be made available is not
able to be determined prior to the closing date specified in Section 7 below, or
the repairs are not able to be completed prior to said date, either party, by
written notice to the other, may postpone the date of the closing to such date
as shall be designated in such notice, but not more than thirty (30) days after
the closing date specified in Section 7 below.

     7. Closing.

          A. The closing of this Contract shall be held on or before February
28, 2000 at the offices of the Title Company as its address stated below;
provided, however, that if on such date the Title Company has not yet approved
title or if there are objections made by Purchaser which have not yet been cured
by Seller, either party, by written notice to the other, may postpone the date
of the closing to such date as shall be designated in such notice but not more
than thirty (30) days after the closing date above specified.

          B. At the closing, Seller shall deliver to Purchaser: (i) a General
Warranty Deed (with Vendor's Lien retained if not a cash purchase) conveying the
Property according to the legal description prepared by the surveyor as shown on
the Survey of the Property, subject only to the Permitted Exceptions; (ii) a
Title Policy issued by the underwriter for the Title Company pursuant to the
Title Binder with the survey exception deleted (except as to shortages in area)
subject only to the Permitted Exceptions; and (iii) possession of the Property.

          C. At the closing, Purchaser shall deliver to Seller (i) the cash
portion of the purchase price (the Earnest Money being applied thereto) and (ii)
the Note and the Deed of Trust, if any.

          D. Each party hereto shall pay his share of the closing costs which
are normally assessed by the Title Company against a seller or purchaser in a
transaction of this character in the county where the Property is located.

          E. Rents and lease commissions, interest, and ad valorem taxes for the
then current year shall be prorated at the closing effective as of the date of
closing. Purchaser agrees to execute and deliver to Seller in duplicate an
Assumption Agreement in recordable form agreeing to pay all commissions payable
under any lease of the Property. Any security deposits held by Seller shall be
delivered to Purchaser. If the closing shall occur before the tax rate is fixed
for the then current year, the apportionment of the taxes shall be upon the
basis of the tax rate for the preceding year applied to the latest assessed
valuation but any difference in actual and ad valorem taxes for the year of sale
actually paid by Purchaser shall be adjusted between the parties upon receipt of
written evidence of the payment thereof. All taxes imposed because of a change
of use of the property after the closing shall be for the account of Purchaser.

          F. If Purchaser is to assume an existing loan, Purchaser shall pay any
transfer fee, and a sum equal to the amount of any reserve account is held by
the mortgagee for the payment of taxes and/or insurance shall be paid to Seller
by Purchaser. Purchaser shall execute, at the option and expense of Seller a
Deed of Trust for Secure Assumption with a Trustee named by Seller.

          G. If the Property is situated within a utility district subject to
the provisions of Section 50.301, Texas Water Code, then at or prior to, the
closing, Seller agrees to give Purchaser the written notice required by said
Section and Purchaser agrees to sign and acknowledge the notice to evidence
receipt thereof.

     8. Termination. If this contract is terminated by Purchaser in accordance
with Section 4 or 6 above, the Earnest Money shall be promptly refunded to
Purchaser, and the parties shall have no further obligation of liabilities one
to the other.

     9. Default. If Seller shall fail to consummate the Contract for any reason,
except Purchaser's default, Purchaser may enforce specific performance of this
Contract or may bring suit for damages against Seller. If Purchaser shall fail
to consummate this Contract for any reason, except Seller's default or the
termination of this Contract pursuant to a right to terminate given herein,
Seller shall have the right to have the Earnest Money paid to Seller liquidated
damages for the breach of this Contract as Sellers sole and exclusive remedy.

     10. Commission.

          A. Seller agrees to pay the Real Estate Agent first named below
(referred to herein as the "Principal Agent") for negotiating this contract a
commission in cash equal to the following percent of the total purchase price of
the Property computed as follows:
                                  ---------------------------------------------
-------------------------------------------------------------------------------
The Principal Agent's right to such commission shall irrevocably vest upon the
execution of this Contract, notwithstanding any subsequent termination or
variation of this Contract or any default by Seller or Purchaser, except that no
commission shall be payable in the event that the Contract shall be terminated
under Section 4 or 6 above, and except that if this contract is not consummated
by reason of Purchaser's default and Seller does not elect to enforce specific
performance, the commission shall not exceed one-half of the Earnest Money. Said
commission shall be paid by Seller to the Principal Agent in Tarrant County,
Texas, at the closing or in the event of default by Seller or Purchaser, within
ten days after the scheduled closing date. The Principal Agent shall be entitled
to apply any escrow deposit to the extent necessary, toward payment of the
commission payable to the Principal Agent hereunder, and the Title Company or
other escrow agent is hereby authorized and directed to pay to the Principal
Agent hereunder. The Principal Agent may divide any commission payable hereunder
with other licensed real estate brokers or salesman, including any cooperating
agent named below but, notwithstanding any such agreement to division of
commissions, Seller shall be fully protected in paying all commissions payable
hereunder solely to the Principal Agent.

          B. At the time of the execution of this Contract, the undersigned
Principal Agent has advised and hereby advises Purchaser, by this writing, that
Purchaser should have the abstract covering the real estate which is the subject
of this Contract examined by an attorney of Purchaser's own selection or that
Purchaser should be furnished with or obtain a policy of title insurance; and
Purchaser hereby acknowledges that Purchaser has been so advised.

     11. Miscellaneous Provisions.

          A. Date of Contract. The term "date of this Contract" as used herein
shall mean the later of the two dates on which this Contract is signed by Seller
or Purchaser, as indicated by their signature below, which later date shall be
the date of final execution and agreement by the parties hereto.

          B. Notices. Any notice or communication required or permitted
hereunder shall be deemed to be delivered, whether actually received or not,
when deposited in the United States mail, postage fully prepaid, registered or
certified mail, addressed to the intended recipient at the address on the
signature page of this Contract. Any address for notice may be changed by
written notice so given.

          C. Forms. In case of a dispute as to the form of any document required
hereunder, the current form prepared by the State Bar of Texas shall be
conclusively deemed reasonable.

          D. Attorneys' Fees. If either party shall be required to employ an
attorney to enforce or defend the rights of such party hereunder, the prevailing
party shall be entitled to recover reasonable attorneys' fees.

          E. Integration. This Contract contains the complete agreement between
the parties and cannot be varied except by the written agreement of the parties.
The parties agree that there are no oral agreements, understanding,
representations or warranties which are not expressly set forth herein.

          F. Survival. Any portion of this Contract not otherwise consummated at
the Closing will survive the closing of this transaction as a continuing
agreement by and between the parties.

          G. Binding Effect. This Contract shall insure to the benefit of and
bind the parties hereto and their respective heirs, representatives, successors
and assigns.

     12. Contract as Offer. The execution of this Contract by the first party to
do so constitutes an offer to purchase or sell the Property unless within three
(3) days from the date of execution of this Contract by the first party, this
Contract is accepted by the other party and a fully executed copy is delivered
to the first party, the offer of this Contract shall be automatically revoked
and terminated and the earnest money, if any, shall be returned to Purchaser.

     13. Other Provisions.

<PAGE>

      EXECUTED on the dates stated below.

AGENTS                                    SELLER
                                          Van Eysenbergen and Holland
------------------------------------      Partnership
Principal Agent, member of the Greater
Fort Worth Board of Realtors              By:   /S/ ANTONIA PHILLIPS
                                                -------------------------------

                                          OWNERS
                                          -------------------------------------
                                          Title

                                          -------------------------------------
                                          Address

                                          FEBRUARY 14, 2000
------------------------------------      -------------------------------------
                                          Date of Execution

                                          PURCHASER
                                          Hispanic  Television  Network  Inc.,
------------------------------------      trustee and/or assigns
Cooperating Agent
                                          By:   /S/ P. ALAN LUCKETT
                                                -------------------------------

                                          PRESIDENT, COO
                                          -------------------------------------
                                          Title

                                          3113 SOUTH UNIVERSITY DEIVE,
                                          SUITE 600
                                          FORTH WORTH, TEXAS 76109
                                          -------------------------------------
                                          Address

------------------------------------      -------------------------------------
                                          Date of Execution

      Earnest money received from Hispanic  Television  Network,  Inc. this 15
day of February, 2000.

                                          SAFECO TITLE
                                          -------------------------------------
                                          Title Company

                                          By:   /S/ EVE MAEKRER
                                                -------------------------------
                                          ESCROW
                                          -------------------------------------
                                          Title

                                          -------------------------------------
                                          Address

<PAGE>

                   INVESTIGATION/FESIBILITY STUDY ADDENDUM

INVESTIGATION/FEASIBILITY STUDY.

[AS IS]

      Buyer shall have ________ days from the effective date hereof to perform
such investigation and/or study. Buyer or Buyer's agents shall have the right of
access to the Property prior to closing for the purpose of conducting such
investigation and/or study, and shall have the right to conduct tests and obtain
core samples. Seller agrees to cooperate with Buyer in connection with the
investigation and/or study, agrees to furnish Buyer with copies of any and all
documents relating to the Property that might be necessary to complete such
investigation and/or study, and agrees to execute any and all documents that
might be required in order to obtain any necessary governmental authority or
consent with respect to the above-described matters. If Buyer determines, in
Buyer's sole judgment and discretion, that the Property is not suitable for
Buyer's intended use, within the ______ days, Buyer shall give Seller written
notice of such fact on or before the end of the period stated above with a copy
to Escrow Agent. Upon receipt of such written notice, the Escrow Agent shall
refund the Earnest Money to Buyer, and both parties shall be released from all
further obligations under this Contract. If Buyer does not send such written
notice to Seller, then it shall be presumed that the Property is suitable for
Buyer's intended use, and the Contract may not be terminated by Buyer for the
reasons set forth in this Section. In the event this contract does not close,
through no fault of Seller, Buyer shall restore the Property to its original
condition, if changed due to the investigation and/or study performed by Buyer.

/S/ MARCO A. CAMACHO
------------------------------------        ------------------------------------
Buyer                                       Seller

------------------------------------        ------------------------------------
Buyer                                       Seller

                                            FEBRUARY 14, 2000
------------------------------------        ------------------------------------
Date                                        Date

<PAGE>

                           PROPERTY CONDTION ADDENDUM

PROPERTY CONDITION (CHECK "A" OR "B")
[  ] A.   Buyer accepts the Property in its present condition, subject only to

          --------------------------------------------------------------------
[  ] B.   Buyer requires inspections and repairs as follows:
          Check Applicable Boxes
[  ] i.   Termites: Seller, at Seller's expense, shall furnish to Buyer at or
          prior to closing a written report by a Structural Pest Control
          Business Licensee, dated within 30 days before Closing Date and
          stating that there is no visible evidence of active termites or
          visible damage to the improvements from the same in need of repair.
          Such report shall not cover fences, trees and shrubs.
[X]  ii.  Condition of Property. [AS IS]
          Buyer shall have the right at Buyer's expense (i) within ______ days
          from the date of this contract to have any of the STRUCTRAL items
          indicated below, and (ii) within _____ days from the date of this
          contract to have any of the EQUIPMENT AND SYSTEMS items indicated
          below, inspected by inspectors of Buyer's choice and to give Seller
          within such time periods a written report of required repairs to any
          of the items checked below which are not performing the function for
          which intended or which are in need of immediate repair. Failure to do
          so shall be deemed a waiver of Buyer's inspection and repair rights
          and Buyer agrees to accept Property in its present condition.
          ITEMS THAT BUYER MAY REQUIRE TO BE INSPECTED (check applicable boxes):
          [ ] foundation, [ ] roof, [ ] load bearing walls, [ ] floors, [ ]
          ceilings, [ ] basement, [ ] water penetration, and

          ---------------------------------------------------------------------
          EQUIPMENT AND SYSTEMS:
          [ ] plumbing system (including any water heaters), [ ] central heating
          and air conditioning [ ] electrical system, [ ] heating and cooling
          units in the walls, floors, ceilings, roof or windows, [ ] any built
          in appliances, [ ] swimming pools and related mechanical equipment,
          [ ] sprinkler systems, and
                                     ------------------------------------------
          ---------------------------------------------------------------------
          ---------------------------------------------------------------------
          Repairs required by inspections and reports shall be at Seller's
          expense.
[  ] iii. Seller shall make the following repairs in addition to those required
          above:
                ---------------------------------------------------------------
          ---------------------------------------------------------------------
          ---------------------------------------------------------------------
          All inspections shall be by trained and qualified persons who
          regularly provide such service and all repairs shall be by trained and
          qualified persons who are, whenever possible, manufacturer-approved
          service persons or are licensed or bonded whenever such license or
          bond is required by law. For these purposes and for re-inspections
          after repairs have been completed. Seller shall permit access to the
          Property at any reasonable time.
[  ] iv.  Where gas supplier, regulations or ordinances require inspection on
          transfer of gas service, Seller consents to transfer of gas service to
          Buyer's name within 7 days prior to closing. Seller shall arrange and
          pay at closing for any repairs necessary if gas leak is discovered.
          Buyer's failure to request such transfer in time to complete the
          inspection prior to closing shall release the Seller of liability for
          repair of gas leaks.
Upon Seller's receipt of all loan approvals and inspection reports Seller shall
commence and complete prior to closing all required repairs at Seller's expense.
All inspections, reports and repairs required of Seller by this contract shall
not exceed $____________. If Seller fails to complete such requirements, Buyer
may do so and Seller shall be liable up to the amount specified and the same
paid from the proceeds of the sale. If such expenditures exceed the stated
amount and Seller refuses to pay such excess, Buyer may pay the additional cost
or accept the Property with the limited repairs and this sale shall be closed as
scheduled, or Buyer may terminate this contract and the Earnest Money shall be
refunded to Buyer. Broker and sales associates have no responsibility or
liability for repair or replacement of any of the Property.

/S/ MARCO A. CAMACHO
------------------------------------        ------------------------------------
Buyer                                       Seller

                                            /S/ ANTONIA PHILLIPS
------------------------------------        ------------------------------------
Buyer                                       Seller

                                            FEBRUARY 14, 2000
------------------------------------        ------------------------------------
Date                                        DateExhibit 10.13

                AGREEMENT ESTABLISHING STRATEGIC RELATIONSHIP

                                     BETWEEN

                         CUBICO.COM, INC. ("CUBICO.COM")

                                       AND

                  HISPANIC TELEVISION NETWORK, INC. ("HTVN")

                                 March 15, 2000

      WHEREAS, the mission of Cubico.com is to become central to the lives of
young Latinos by providing integrated services and access to state-of-the-art
world wide web technology, which will empower and facilitate the development of
the Latin community;

      WHEREAS,   HTVN  is  a  leading  U.S.   provider  of  Latino  television
programming, media production and syndication services;

      WHEREAS, Cubico.com desires to enter into a strategic relationship with
HTVN for the purpose of becoming the leading provider of web services and
commerce for young Latinos in the U.S. and in Latin America; and

      WHEREAS, HTVN desires to enter into a strategic relationship with
Cubico.com for the purpose of establishing a leading Internet presence.

      NOW, THEREFORE, the parties hereto agree as follows:

      1. ISSUANCE OF CUBICO.COM, SERIES B PREFERRED STOCK. The strategic
relationship will be consummated at a Closing, at which, among other things,
Cubico.com. will issue and sell to HTVN, and HTVN will purchase, 7,800,000
shares of Cubico.com Series B Preferred Stock (the "CUBICO.COM SHARES"), having
the rights preferences and privileges summarized in EXHIBIT A attached hereto,
in exchange for the following considerations that the parties agree has a total
value of approximately $36,036,000, for $4.62 per share:

     o    The transfer to Cubico.com of a minority equity interest in ten (10)
          of HTVN's Television Stations, subject to conditional repurchase, as
          more particularly described below in Sections 2 and 4 below;

     o    HTVN's agreement to sell 5,000,000 shares of restricted HTVN Common
          Stock to Cubico.com, subject to conditional repurchase, as more
          particularly described in Sections 3 and 4 below;

     o    A Licensed Management Agreement with a 3 year Minimum Fee Guaranty
          equal to 10% of the amount of Gross Revenues of the 10 Television
          Stations, as more particularly described in Section 5 below; and

     o    3 year HTVN Co-Marketing Efforts Obligations, as more particularly
          described in Section 6 below.

      Upon Closing, the capitalization of Cubico.com will be as follows:

---------------------------------------------------------------------------
                Class                   Shares         % of Total CS
                                                        Equivalents
---------------------------------------------------------------------------
                                        3,000,000          18.46%
Series A Preferred Stock

---------------------------------------------------------------------------
                                        7,800,000          48.0%
Series B Preferred Stock

---------------------------------------------------------------------------
                                        5,450,000          13.54%
Common Stock, Options and Future
Employee Common Stock and Option Pool

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

            *Total CS Equivalents:     16,250,000         100%
---------------------------------------------------------------------------

                          *Post Series A (at a minimum of $1.00 per share) and
                                                           Series B Financings

      Cubico.com anticipates that it will conduct a Series C Preferred Stock
Financing 6 months after the Closing, in which it will seek to raises additional
funds in the amount of approximately $20,000,000.

      2. TRANSFER OF INTERESTS IN TELEVISION STATIONS. Upon Closing, HTVN will
sell and transfer to Cubico.com less than 50%, but more than 25%, of all of the
equity interests in ten (10) television stations to be agreed upon during due
diligence (the "TELEVISION STATIONS"), provided that such transfer may be made
to Cubico.com, or to its nominee without approval by the Federal Communications
Commission, and without licensing of, or transfer of any FCC license to,
Cubico.com, as determined by FCC counsel to HTVN and Cubico.com, and otherwise
in compliance with all communications and other laws and, provided further, that
following such transfer HTVN shall have management and control of such
Television Stations sufficient to enter in the LMA described in Section 5 below.
The parties will agree on the form of an equity interests transfer agreement,
which will include customary terms and conditions, customary representations and
warranties, as well as customary conditions to closing.

            (a) SELECTION OF TELEVISION STATIONS. In determining which
television stations will be transferred to Cubico.com, Cubico.com will be given
preference in choosing the geographical markets served by such stations, except
for existing stations serving the markets of Dallas, Houston, San Antonio and
Del Rio, Texas.

      3. HTVN SHARES. At the Closing, HTVN will agree to sell to Cubico.com.
5,000,000 restricted shares of HTVN Common Stock (the "HTVN Shares") upon the
closing of Cubico.com's Series C Preferred Stock Financing. The purchase price
for the HTVN Shares will be $1.00 per share. The parties will agree on the form
of a stock purchase agreement, which will include customary terms and
conditions, customary representations and warranties, as well as customary
conditions to closing.

            (a) RESTRICTIONS ON TRANSFER OF HTVN SHARES. The HTVN Shares will
not be registered under the Securities Act, will be restricted securities, will
not be subject to transfer during the time they are subject to the HTVN
Repurchase Right (described in paragraph 4 below), and the certificates
evidencing the HTVN Shares or the transfer agent instructions will bear
appropriate legends or contain appropriate stop-transfer instructions, as the
case may be. The HTVN Shares will only be able to be sold or otherwise
transferred if subsequently registered under the Securities Act or if an
exemption from registration is available therefor. HTVN will grant to Cubico.com
(a) piggyback registration rights subject to underwriter cutback to 30%; and (b)
one (1) S-3 registration per 12-month period with minimum offering of
$10,000,000; in each case exercisable on or after January 1, 2001, but subject
to a right of first offer at fair market value in favor of HTVN, exercisable for
10 business days following Cubico.com's notice of proposed offering. HTVN will
agree to maintain current public information within the meaning of SEC Rule 144.

      4. HTVN REPURCHASE RIGHTS. All HTVN Shares sold to Cubico.com and all.
other Cubico.com assets, including, but not limited to, all equity interests in
Television Stations that have been transferred to Cubico.com, will be subject to
all-or-nothing repurchase by HTVN, subject to the assumption by HTVN of up to
$5,000,000 of Cubico.com liabilities within ninety (90) days after the date that
is 3 years from the Closing Date, in the event that Cubico.com has not yet (a)
had a registration statement with respect to an initial public offering of
shares of its Common Stock (with a per share price of not less than $15.00 and
aggregate gross proceeds to the Company of not less than $50 Million) become
effective, or (b) the closing of an acquisition by merger or sale of assets in
which Cubico.com or the shareholders of Cubico.com, as the case may be, receive
cash, securities or other consideration in exchange for their shares or for such
assets, as the case may be, provided that the holders of Series A and Series B
Preferred Stock or the Company, as the case may be receive net proceeds of such
sale or exchange which, in the aggregate, exceeds the original cost of such
Preferred Stock then outstanding plus the amount of all declared and unpaid
dividends thereon, if any (each a "QUALIFIED LIQUIDITY EVENT"). In the event
that HTVN exercises its repurchase right, the HTVN Shares will be repurchased
at, a price of $1 .00 per share, and all other Cubico.com, assets will be
repurchased at fair market value as determined by independent third parties.
HTVN will be responsible for reimbursing Cubico.com for any sales, income or
other taxes incurred by Cubico.com in connection with the repurchase. All HTVN
Shares not repurchased by HTVN as provide in this paragraph will be released
from the repurchase right.

      5. LICENSED MANAGEMENT AGREEMENT. On. the Closing Date, HTVN and
Cubico.com will enter into a 3 year exclusive and non-cancelable Licensed
Management Agreement ("LMA") with respect to all of the Television Station
owning or operating entities in which Cubico.com receives equity interests
pursuant to Section 2 above. Pursuant to such LMA which HTVN will provide
management services free of charge. Under the terms of the LMA, HTVN will make
LMA fee payments to Cubico.com in accordance with an industry standard fee
schedule for management of similar stations, provided that HTVN will agree to
make minimum guaranteed quarterly fee payments, in the amount equal to 10% of
the amount of Gross Revenues of the 10 Television Stations in which Cubico.com
holds equity interests, for such quarter, each due within 30 days of HTVN
quarter-end, for 3 years. Cubico.com will have customary audit rights.

      6.    JOINT MARKETING EFFORTS.

            (a) HTVN MARKETING EFFORTS. For three (3) years from the Closing
Date, HTVN will agree to provide Cubico.com with the following marketing
efforts:

                        (i) Exhibition of Cubico.com's logo on HTVN's network
                  sponsorship billboards airing 5 times per week, but not more
                  than once per day, exclusive of all other continuous ".com,"
                  ".net," ".org," or ".gov" logos of any type;

                        (ii) Advertising across HTVN's network with an
                  equivalent cost measured in accordance with generally
                  applicable pricing by HTVN for equivalent advertising equal to
                  an aggregate of no less than $100,000,000. Such advertising
                  shall run and be placed on such days and at such times and
                  locations as the parties shall mutually agree, and HTVN shall,
                  upon request by Cubico.com, which may be made from time to
                  time, use reasonable best efforts to acquire for Cubico.com
                  radio and print advertising or cash, in exchange for
                  Cubico.com's advertising rights based on the allocated cost
                  thereof, from and with third parties reasonably acceptable to
                  HTVN;

                        (iii) Programming time of 30 continuous minutes 5 times
                  per week, but not more than once per day, during the hours of
                  noon through 2:00 am. across HTVN's network, for use by
                  Cubico.com for sponsored program presentation based on
                  guidelines for content to be mutually agreed;

                        (iv) Production of Cubico.com sponsored programs at HTVN
                  production cost, provided that Cubico.com shall reimburse HTVN
                  for all extraordinary costs, including, but not limited to,
                  any and all costs of outside actors, special services not
                  otherwise generally provided by HTVN, and non-HTVN writers and
                  directors as may be requested by Cubico.com, with HTVN to have
                  a right of prior review and approval of content, which may not
                  be unreasonably withheld, the number of sponsored programs to
                  be produced by HTVN to be determined by Cubico.com in the
                  exercise of reasonable discretion, subject to general
                  availability of HTVN facilities;

                        (v) At no cost to HTVN, use and access to all HTVN
                  program inventory by license or sublicense of broadcasting
                  rights, all necessary owner and syndication consents, an
                  infringement indemnity, and no reciprocal advertising
                  obligations due from Cubico.com; and

                        (vi) Use of HTVN sales force to sell advertising for
                  Cubico.com, as will be agreed by the parties at or before the
                  Closing.

            (b)   CUBICO.COM  MARKETING EFFORTS.  For three (3) years from the
Closing Date,  Cubico.com will agree to provide HTVN with all of the following
marketing efforts:

                        (i)   Exhibition  of  HTVN's  logo   continuously   on
                  Cubico.com's  home  page,  exclusive  of all other  logos of
                  providers of television programming; and

                        (ii) Hyperlink buttons for general Hispanic/Latin
                  program video streaming content to be provided only by HTVN
                  and not by Univision, Telemundo, TV Azteca and Televisa.

            (c) CUBICO.COM PAYMENTS. In connection with HTVN's marketing
efforts, Cubico.com will pay HTVN the following amounts: (i) $100,000 upon
Closing, provided that Cubico.com has raised at least $3,000,000 in its Series A
Preferred Stock Financing, and (ii) $400,000 upon closing of Cubico.com's Series
C Preferred Stock Financing.

            (d) RENEWAL OF TERM. The term will renew for additional three (3)
year periods unless either party gives the other notice of termination at least
180 days prior to the end of the current term, provided that such patty has
reasonable commercial grounds for termination as will be agreed upon.

      7.    CONDITIONS.  The consummation of the proposed  relationship  shall
be subject to customary closing conditions as well as the following:

            (a)   Completion  of  satisfactory  due  diligence  review by each
      party of the other;

            (b)   Negotiation,    execution   and   delivery   of   definitive
      agreements;

            (c)   Approval  of the  definitive  agreements  by the  Boards  of
      Directors of the parties;

            (d) Satisfaction of any applicable federal or state filing or
      licensing requirements and the receipt of any applicable federal or state
      regulatory approvals which are required in connection with the
      transactions; and

            (e) The parties shall enter into an agreement not to compete
      directly with each other or to solicit each other's employees for a period
      of three (3) years from the Closing Date.

            (f) Cubico.com shall have closed its Series A Financing in an amount
      not less than $3 Million.

      8. DISCLOSURE AND ANNOUNCEMENTS. Each party agrees that the other may
disclose the existence and terms of this Agreement in connection with its
financings and other corporate transactions, provided that each party agrees to
consult with the other in advance concerning the form timing and contents of all
general public announcements, disclosures and filings, to the extent that such
public announcements, disclosures and filings otherwise concern the parties'
relationship, or concern the other party's operations, condition or prospects.

      9. NO-SHOP. Each party agrees that, until termination in accordance with
Section 13 below, (a) such party shall not facilitate, solicit, encourage, or
take any action to facilitate any inquiry with respect to, or making of, any
potential or actual proposal for a strategic relationship of a kind described
herein with any third party, and (b) such party shall not engage in any
negotiation or discussion with, or furnish any information or data to, any third
party relating to any such proposal.

      10. ACCESS FOR DUE DILIGENCE. In connection with the establishment of the
relationship described herein each party will afford the other and its
accountants, counsel and other representatives with reasonable access to its
properties, books, records, personnel, business and commercial relationships in
order that such party may have full opportunity to make such investigation as it
reasonably desires.

      11.   EXPENSES.  Each party shall bear its own  expenses  in  connection
with preparing for and consummating the transactions contemplated herein.

      12. NO BROKER'S OR FINDER'S FEE. Each party represents and warrants to the
other than no person or entity will have any claim to any broker's or finder's
fee arising out of the transactions contemplated hereunder by any person
claiming to have been engaged by such party. Each party agrees to indemnify the
other for any loss caused by inaccuracy or breach of the foregoing
representation and warranty.

      13. TERMINATION. This Agreement may be abandoned or terminated (a) at any
time by the mutual written agreement of the parties hereto, (b) at the option of
either party hereto on written notice to the other if the Closing shall not have
taken place by June 30, or (c) by Cubico.com, in the event that Cubico.com does
not raise $3 Million or is otherwise unable to close its Series A Financing by
April 15, 2000.

      14.   ENTIRE AGREEMENT.  This Agreement constitutes the entire agreement
and understanding between the parties with regard to the subjects hereof.

                            [Signature Page Follows]

<PAGE>

      WHEREFORE, the parties have executed and delivered this Agreement in
Principal as of the date first written above.

                                    CUBICO.COM, INC.,
                                    a California corporation

                                    By /S/ HECTOR SALDANA
                                       -----------------------------------
                                       Name:  Hector Saldana
                                       Title: Founder, Cubico Inc., 3-20-00

                                    HISPANIC TELEVISION
                                    NETWORK, INC.,
                                    a Delaware corporation

                                    By  /S/ MARCO A. CAMACHO
                                        ----------------------------------
                                        Name:  Marco Camacho
                                        Title:  Chief Executive Officer

<PAGE>

EXHIBIT A

to AGREEMENT IN PRINCIPAL

                SUMMARY OF RIGHTS, PREFERENCES AND PRIVILEGES

                            SERIES B PREFERRED STOCK

Dividends:                 The holders of the Series B  Preferred  Stock shall
                           be entitled to receive  noncumulative  dividends in
                           preference  to any  dividend  on the Common  Stock,
                           but pari passu with any  dividends on the Company's
                           Series  A  Preferred  Stock,  at a rate of 8.0% per
                           annum per share,  payable  when as and if  declared
                           by the Board of Directors.

Liquidation Preference:    The  holders of Series B  Preferred  Stock shall be
                           entitled to liquidation  preference relative to the
                           Common  Stock of a per share  amount equal to $4.62
                           (the "ORIGINAL SERIES B PURCHASE PRICE"),  plus any
                           declared  but  unpaid   dividends  (the  "INITIAL
                           LIQUIDATION PREFERENCE").  If upon any liquidation,
                           the assets of the Company are  insufficient  to pay
                           the   Initial   Liquidation   Preference   and  the
                           applicable  liquidation  preference  of the holders
                           of the Company's  Series A Preferred Stock in full,
                           then such  assets  shall be  distributed  among the
                           holders  of  Series  B  Preferred   Stock  and  the
                           Company's  Series  A  Preferred  Stock  ratably  in
                           proportion  of the full amounts to which they would
                           otherwise be entitled.

                           After the payment of the Initial Liquidation
                           Preference to the holders of the Series B Preferred
                           Stock and the applicable liquidation preference to
                           the holders of the Company's Series A Preferred
                           Stock, and any other distribution that may be
                           required with respect to Series B Preferred Stock
                           that may from time to time come into existence, which
                           shall be pari passu with all other distributions that
                           may be required with respect to the Company's Series
                           A Preferred Stock that may from time to time come
                           into existence, the remaining assets of the Company
                           shall be distributed pro rata to the holders of the
                           Common Stock.

                           Immediately prior to a liquidating event, a holder of
                           Series B Preferred Stock may convert any of such
                           shares of Series B Preferred Stock into shares of
                           Common Stock. A merger, consolidation, share
                           exchanges, acquisition, sale of voting control or
                           sale of substantially all of the assets of the
                           Company in which the current shareholders of the
                           Company do not own a majority of the outstanding
                           shares of the surviving corporation shall be deemed
                           to be a liquidation.

Conversion:                The holders of the Series B Preferred Stock shall
                           have the right to convert the Series B Preferred
                           Stock, at any time, into shares of Common Stock. The
                           initial conversion rate shall be 1:1, subject to
                           adjustment as provided below.

Automatic Conversion:      All  shares of Series B  Preferred  Stock  shall be
                           converted   automatically  into  shares  of  Common
                           Stock, at the then applicable  conversion rate, (i)
                           in  the  event  that  the  holders  of at  least  a
                           majority  of the  outstanding  Series  B  Preferred
                           Stock, voting as a separate class,  consent to such
                           conversion,  (ii)  upon  the  closing  of a  firmly
                           underwritten  public  offering  of shares of Common
                           Stock of the  Company at a per share price not less
                           than  $15.00 and for  aggregate  gross  proceeds to
                           the  Company of not less than $50  million  (before
                           deduction   of    underwriters    commissions   and
                           expenses) (a  "QUALIFIED  IPO"),  or (iii) upon the
                           closing  of  a  consolidation   or  merger  of  the
                           Company  or a sale of all or  substantially  all of
                           its assets in a  transaction  in which the  Company
                           or the  shareholders  of the  Company,  as the case
                           may be,  receive  net  cash,  securities  or  other
                           consideration which, in the aggregate,  exceeds the
                           amount  determined  by adding  the  product  of the
                           Original Series A Purchase Price  multiplied by the
                           number of shares of Series A  Preferred  Stock then
                           outstanding,  plus  the  product  of  the  Original
                           Series B Purchase  Price  multiplied  by the number
                           of  shares  of  Series  B   Preferred   Stock  then
                           outstanding,  plus the total amount of all declared
                           and   unpaid   dividends   thereon,   if  any,   as
                           determined by the Board of Directors.

Anti-dilution Provisions:  The conversion rate of the Series B Preferred Stock
                           will be subject (a) to a broad based, weighted
                           average adjustment (based on all outstanding
                           shares of Series A Preferred Stock, Series B
                           Preferred Stock and Common Stock, as well as
                           outstanding and reserved options) to reduce dilution
                           in the event chat the Company issues additional
                           equity securities (other than the 2,450,000 reserved
                           employee shares described under "EMPLOYEE POOL"
                           below, and such additional shares issued under such
                           Employee Pool as may be approved in the future by the
                           Board) at a purchase price less than the Series B
                           Preferred Stock purchase price, and (b) to adjustment
                           upon the closing of the Company's Series C Preferred
                           Stock Financing, as is necessary to provide the
                           holders of Series B Preferred Stock with the right to
                           convert such Series B Preferred Stock into common
                           stock representing in the aggregate 48% of the
                           Company's common stock and common stock equivalents,
                           calculated on a fully-diluted and as-converted basis,
                           and after giving effect to the Series C Preferred
                           Stock Financing and to the initial Employee Pool, in
                           the event that the purchase price of the Company's
                           Series C Preferred Stock is greater than the Series B
                           Preferred Stock purchase price. The conversion rate
                           will also be subject to proportional adjustment for
                           stock splits, stock dividends, combinations of
                           shares, recapitalizations and the like.

Redemption:                The Series B Preferred Stock shall be non-redeemable.

Board of Directors:        The size of the Company's Board of Directors shall be
                           set at 5. Holders of the outstanding shares of the
                           Company's capital stock to be entitled to elect
                           Directors to the Board of Directors as follows:

                           Common Stock - Holders of a majority of the
                           outstanding shares of Common Stock, voting separately
                           as a class, shall be entitled to elect one (1)
                           Director.

                           Series A Preferred - Holders of a majority of the
                           outstanding shares of Series A Preferred Stock,
                           voting separately as a class, shall be entitled to
                           elect one (1) Director.

                           Common Stock and Series A Preferred - One (1)
                           Director shall be such person as the holders of a
                           majority of the outstanding shares of Common Stock,
                           voting separately as a class. and the holders of a
                           majority of the outstanding shares of Series A
                           Preferred Stock, voting separately as a class, shall
                           agree.

                           Series B Preferred - Holders of a majority of the
                           outstanding shares of Series B Preferred Stock,
                           voting separately as a class, shall be entitled to
                           elect Two (2) Directors.

Voting Rights:             The  holders of the Series B  Preferred  Stock will
                           vote together with the holders of Series A Preferred
                           Stock and Common Stock and not as a separate class
                           except as specifically provided herein or as
                           otherwise required by law. Each share of the Series B
                           Preferred Stock shall have a number of votes equal to
                           the number of shares of Common Stock then issuable
                           upon conversion of such shares of Preferred Stock.

Protective Provisions:     For so long as any  shares  of  Series B  Preferred
                           Stock  remain  outstanding,  consent of the holders
                           of at least a majority  of the  Series B  Preferred
                           Stock  shall be  required  for any action  that (i)
                           increases or  decreases  the  authorized  number of
                           shares of Common  Stock,  Series A Preferred  Stock
                           or  Series B  Preferred  Stock,  (ii)  creates  (by
                           reclassification  or  otherwise)  any new  class or
                           series of shares having any rights,  preferences or
                           privileges  senior to or on a parity  with Series A
                           Preferred  Stock  and  Series  B  Preferred  Stock,
                           (iii)  results in the  redemption  of any shares of
                           Common  Stock   (other  than   pursuant  to  equity
                           incentive  agreements with service providers giving
                           the  Company  the right to  repurchase  shares upon
                           the  termination  of services),  Series A Preferred
                           Stock or Series B Preferred Stock,  (iv) results in
                           any merger,  consolidation,  share exchange,  other
                           corporate  reorganization,  sale of control, or any
                           transaction  in which all or  substantially  all of
                           the assets of the Company  are sold,  (v) amends or
                           waives any provision of the Company's Articles.  of
                           Incorporation  or Bylaws so as to  adversely  alter
                           or  change  the  rights of the  Series B  Preferred
                           Stock,  including,  but not limited to the right to
                           elect a number of  Directors,  or (vi)  results  in
                           the payment or  declaration  of any dividend on any
                           shares of Common  Stock,  Series A Preferred  Stock
                           or Series B Preferred Stock.

Information Rights:        So long HTVN continues to hold at least
                           250,000 shares of Series B Preferred Stock or Common
                           Stock issued upon conversion of the Series B
                           Preferred Stock, the Company shall deliver to HTVN
                           audited annual and unaudited quarterly financial
                           statements. This provision shall terminate upon a
                           Qualified IPO.

Registration Rights:       Registrable Securities shall include Common
                           Stock issuable or issued upon conversion of the
                           Series B Preferred Stock, and any securities issued
                           or issuable upon or in exchange therefor or
                           replacement thereof.

                           DEMAND RIGHTS: If HTVN requests that the Company file
                           a Registration Statement having an aggregate offering
                           price to the public of not less than $10,000,000 nor
                           comprising less than 20% of the Registrable
                           Securities, the Company will use its best efforts to
                           cause such shares to be registered for resale to the
                           public; provided, however, that the Company shall not
                           be obligated to effect any such registration before
                           the earlier of December 31, 2004 or six months after
                           the occurrence of a Qualified IPO. The Company shall
                           have the right to delay such registration under
                           certain circumstances for periods not in excess of
                           ninety (90) days in the aggregate in any twelve (12)
                           month period. In connection with any such
                           registration, the Company will enter into customary
                           agreements with the underwriters selected by the
                           Investors.

                           The Company shall not be obligated to effect more
                           than one (1) registration under these demand right
                           provisions, and shall not be obligated to effect a
                           registration during the forty-five (45) day period
                           prior to the Company's good faith estimate of the
                           date of filing of, and ending on a date one hundred
                           eighty (180) days after the effective date of the
                           registration affecting the Company's initial public
                           offering. Any demand registration shall include only
                           the Registrable Securities held by HTVN.

                           COMPANY REGISTRATION: HTVN shall be entitled to
                           "piggy-back" registration rights on all registrations
                           of the Company or on any demand registrations of any
                           other investor subject to the right, however, of the
                           Company and its underwriters (in the case of
                           Company-initiated registrations) to reduce the number
                           of shares proposed to be registered pro rata among
                           the piggy-back holders in view of market conditions.

                           S-3 RIGHTS: In addition to the other registration
                           rights described herein, HTVN shall be entitled to
                           one (1) demand registration on Form S-3 (if available
                           to the Company) per twelve-month period so long as
                           such registered offerings are not less than
                           $2,000,000.

                           EXPENSES:    With   the    exception   of   Company
                           registrations  which will be borne by the  Company,
                           the  registration   expenses  of  any  registration
                           hereunder    will   be   borne   by   the   selling
                           Shareholders.

                           TRANSFER  OF RIGHTS:  The  registration  rights may
                           not be  transferred,  except to  affiliates  of the
                           holders of such registration rights.

                           LOCK-UP PROVISION: If requested by the Company and
                           its underwriters, HTVN will not sell its shares for a
                           specified period (but not to exceed 180 days)
                           following the effective date of the Company's initial
                           public offering.

                           OTHER PROVISIONS: Other provisions shall be contained
                           in the Shareholders Agreement with respect to
                           registration rights as are reasonable, including
                           cross-indemnification, the period of time in which
                           the Registration Statement shall be kept effective,
                           and underwriting arrangements.

Right of First Refusal
and First Offer:           In the event the Company  proposes to offer  equity
                           securities  to any person  (other  than  securities
                           issues  pursuant  to  permitted   employee  benefit
                           plans or  pursuant  to  acquisitions),  HTVN  shall
                           have the right of first offer to  purchase  its pro
                           rata   portion  of  such  shares  to  maintain  its
                           percentage ownership in the Company.  Such right of
                           first refusal will terminate upon a Qualified IPO.

Co-Sale Rights:            HTVN shall have co-sale rights with respect
                           to sales or transfers of Common Stock by Hector
                           Saldana and Luis Saldana (the "FOUNDERS"), other than
                           transfers to family trusts for estate planning
                           purposes and other typical exceptions.

Purchase Agreement:        The  investment  shall be made  pursuant to a Stock
                           Purchase Agreement reasonably acceptable to the
                           Company and HTVN, which agreement shall contain,
                           among other things, appropriate representations and
                           warranties of the Company, covenants of the Company
                           reflecting the provisions set forth herein and
                           appropriate conditions of closing, including an
                           opinion of counsel for the Company. The Stock
                           Purchase Agreement shall provide that it may only be
                           amended and any waivers thereunder shall only be made
                           with the approval of HTVN. Registration rights
                           provisions may be amended or waived solely with the
                           consent of HTVN.

Founders Vesting:          Hector  Saldana  and  Luis  Saldana  will  both  be
                           subject to a Company right of repurchase on two-
                           thirds (2/3)of their respective shares over a 2 year
                           period subject to linear monthly vesting. All of
                           their shares which are subject to the repurchase
                           option will receive accelerated release from the
                           repurchase option in the event of any involuntary
                           cessation of employment (including constructive
                           termination) other than "for cause" within twelve
                           months after an acquisition of the Company.

Employee Option Pool:      Upon the  Closing of this  financing  there will be
                           2,450,000 shares of Common Stock reserved for
                           issuance to key employees, and directors and
                           consultants.

Stock Vesting:             Options granted to purchase such reserved
                           shares shall be subject to vesting over a three year
                           period with 1/3 of the shares vesting on the first
                           anniversary of the date of grant and the remainder
                           vesting as to 1/24 per month thereafter.

Restrictions on Sales:     The Company  shall have a right of first refusal on
                           all employee transfers of Common Stock,  subject to
                           normal exceptions.

Proprietary Information
and Inventions Agreement:  Each  officer,   employee  and  consultant  of  the
                           Company shall enter into an acceptable  proprietary
                           information and inventions agreement.

Finders:                   The  Company  and HTVN  shall  each  indemnify  the
                           other for any  broker's or finder's  fees for which
                           either is responsible.

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