Document:

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                                                                  EXHIBIT 10.4

June 12, 2000

COLLEGE TELEVISION NETWORK
32 E. 57TH STREET
NEW YORK, NY 10022

Attn: Ann Brown

The following agreement provides the terms of the contract between US Concepts,
Inc., a New York corporation, (hereinafter referred to as "USC") and CTN Media
Group, Inc., a Delaware corporation (hereinafter referred to as "CTN") for the
Politically Incorrect On Campus (hereinafter referred to as "PIOC") College
Television Network Promotion outlined below in Section I. The parties agree as
follows:

I.   SCOPE OF ASSIGNMENT

USC will manage and execute for CTN, the "Politically Incorrect College
Television Network Promotion" ("the Promotion"). The services provided by USC in
order for USC to manage and execute the Promotion under this Agreement include,
but are not limited to, general development and management, event
implementation, personnel management, training, management/logistics, venue
sell-in/coordination, client communication, budget management, shipping and
fulfillment (the "Services"). The Promotion will take place for a duration of 2
months within the time frame of September 1, 2000 through October 31, 2000
consisting of a total of 10 events.

Each event will consist of a live production of Politically Incorrect starring
Bill Maher, a high-profile comedian and three (3) other participants to be
selected based on approvals of CTN and PIOC.

USC will execute the Promotion in accordance with the terms and provisions of
this Agreement and Attachments A and B, which are annexed hereto and
incorporated into the Agreement by reference and are made a part hereof. The
term of this Agreement shall begin on February 24, 2000 and terminate upon
completion of Services to be provided herein, but in no event shall such
termination date be later than October 31, 2000.

<PAGE>

II.  SERVICES TO BE PROVIDED BY USC

USC shall produce, supervise, manage and implement all aspects of the Promotion
as outlined within and shall report Promotion status and results to CTN on a
timely basis as directed by CTN.

USC shall carry out its obligations in accordance with the Budget annexed hereto
as Attachment A. Any deviation therefrom shall require CTN's prior written
consent. USC shall be responsible for delivering all elements of the Services,
as detailed in Section II. of this Agreement and as detailed in the Attachments
and will use its best efforts to manage vendors, personnel and resources to
deliver same for CTN.

1.  THE PROMOTION MARKETS

USC shall schedule, contract and execute events to take place at universities to
be approved by both CTN and PIOC.

2.  THE EVENTS:

USC shall coordinate local market and on-site logistics with selected schools
and shall execute contracts with each school so that each participating school
shall provide:

     a)   Appropriate show venue with minimum of 1,500 seats - where available
     b)   All required production elements: sound, lights, green room, etc.
     c)   Minimum of two (4) one-half page school newspaper ads and on-campus
          flyer distribution to promote the show
     d)   Rights and approvals to display 100 posters in high traffic locations
          to promote the show
     e)   Post event reception (light refreshments) for 40 people - 20 school/20
          CTN
     f)   Rights for CTN / PIOC / USC/ABC to tape each show and release to any
          rights for broadcast or sale

The events will be executed as follows:

o    Per the Budget outlined on Attachment A

o    Per the Agreement outlined on Attachment C

3.  BUDGET ESTIMATES

All asterisked (*) line items in Attachment A are estimates only. CTN will be
billed at actual costs for asterisked (*) line items based on actual post
promotion reconciliation.

<PAGE>

USC will make every effort to minimize expenditures
for asterisked (*) line items and shall notify CTN of the actual costs
immediately upon determining such costs.

Billing for all non-asterisked (*) line items in Attachment A shall be for the
amounts indicated on each line item unless otherwise agreed to in writing by
both parties or as otherwise provided for in this Agreement.

4. MATERIALS

USC shall design and produce all program materials as detailed on Atachment A
and approved by CTN and PIOC.

USC represents and warrants that (a) Materials, as detailed in Attachment A,
shall be managed to ensure integrity, safekeeping and security; (b) it shall
hold Materials in safekeeping until such time as they are distributed hereunder
and that no Materials shall be sold or utilized or used for any purposes other
than in connection with this Promotion as detailed herein; and (c) at the
conclusion of the promotion, USC shall, at CTN's direction and expense, either
return, dispose of, or ship as directed any remaining items.

III. SERVICES TO BE PROVIDED BY CTN:

CTN will provide the following services and materials relevant to the execution
of this Promotion as outlined on Attachments A and C, as follows:

a)   CTN shall be responsible for gaining necessary approvals from any and all
     CTN sponsors, its agencies, advertisers, parent companies, trademark
     owners, patent owners, talent and others that are necessary for
     production/scheduling of elements such as, but not limited to logos,
     trade/service marks, artwork, creative, programming and video footage and
     talent appearances

b)   CTN is also responsible for any and all costs to provide these materials in
     a finished, ready format to be utilized by equipment/processes as approved
     by CTN

c)   USC shall notify CTN of its requirements regarding materials for approval

d)   CTN shall be responsible for designing, registering, bonding and in all
     ways administering any sweepstakes or games of chance or skill that are
     included in the Promotion

e)   Providing advertisement space in the September issue of LINK magazine

IV.  COMPENSATION

In full consideration for the services to be provided herein, and all costs and
expenses to be incurred herewith, CTN shall pay USC the amounts specified in
"Attachment A" in accordance with the payment schedule described in "Attachment
B" and the Budget Estimate terms agreed to herein (Section II). USC shall not be
reimbursed for any

<PAGE>

additional costs or fees by CTN unless USC has received CTN's
prior written approval or as otherwise provided for in this Agreement.

V.   CHANGES TO THE AGREEMENT

Any changes or alterations to this Agreement shall take effect only if agreed to
in writing by both parties.

VI.  INDEMNIFICATION

The parties agree that each party is responsible for the acts and omissions of
its respective personnel.

CTN and USC specifically agree not to solicit or hire any employees of the other
party's organization without prior written approval from the other party during
the term of this Agreement and for a period of 18 months from the termination
date of this Agreement.

USC shall indemnify CTN and its respective parents, subsidiaries and affiliates,
and their officers, directors, employees and permitted assignees from and
against any claim, cost, loss, damage, expense or liability, including without
limitation reasonable attorney's fees, disbursements and court costs, arising
out of or relating to any infringement of any trademark, copyright or other
proprietary interest arising from the use of artwork, writing, or other creative
materials produced by USC hereunder to the extent that such infringement is
known by USC or with exercise of reasonable care should have been known, or
relating to a breach by USC of any of its representations, warranties,
covenants, and agreements set forth in this Agreement.

CTN agrees to indemnify, defend, and hold harmless USC, PIOC, and ABC its
parents, subsidiaries and affiliates, and their officers, directors and
employees from and against any claims asserted by a third party against USC
arising out of or in connection with any matter related to materials, equipment,
vehicles, and/or artwork that CTN supplies to USC, if used by USC in accordance
with CTN instructions.

Each party shall provide written notice to the indemnifying party of any claim
for which that party has indemnification obligations under this Section VI,
promptly upon receipt of notice thereof. The indemnifying party shall have the
sole authority to conduct the defense of settlement or compromise of such claim
or any action or proceeding based upon such claim; provided that each party
shall notify the other of the status, including settlement or compromise, of any
such claim, action or proceeding relating to this Agreement.

<PAGE>

VII. INSURANCE

USC shall provide a Certificate of General Liability Insurance, of at least Five
Million Dollars ($5,000,000), per occurrence, per event, naming CTN as the
additional insured on the liability insurance only. Such General Liability
Insurance shall not be written on a "claims made" form.

USC shall also procure and maintain Worker's Compensation Insurance in
accordance with relevant state statutory limits, Employer's Liability Insurance
with a limit of not less than $100,000 per occurrence, and Automobile Liability
Insurance covering all owned, hired and non-owned automobile equipment with
limits of not less than $1,000,000 bodily injury and property damage, combined
with Single limit. The Automobile Liability Insurance provides $1,000,000 base
coverage which is supplemented for claims over $1,000,000 by the General
Liability Insurance.

The Indemnification and Insurance paragraphs shall survive the termination of
this Agreement.

VIII. TRADEMARKS

CTN, hereby grants USC permission to use the CTN brand names, trademarks and
logo types ("the Marks") solely to fulfill its obligations under this Agreement.
All such use shall be subject to CTN prior review and written approval. USC
acknowledges that (i) "the Marks" are and shall remain the sole and exclusive
property of CTN; (ii) that this Agreement does not confer upon USC any right or
interest whatsoever in "the Marks" except as specifically provided herein; and,
(iii) USC shall not now or in the future contest the validity of "the Marks".

IX.  TERMINATION

Notwithstanding Section I Paragraph 2 herein, this Agreement may be terminated
by written notice to USC for convenience, or if CTN alleges that USC is in
breach of any provision of the Agreement. Within ten (10) days after the
expiration or termination of this Agreement (whichever occurs first), USC shall
deliver to CTN all undistributed Materials in its possession (at CTN's expense).

<PAGE>

Within 45 business days from termination of this Agreement, USC shall provide to
CTN a full accounting of all monies expended during the program, including a
full accounting of the number of event days, and shall immediately refund all
sums to CTN which were advanced but not expended minus the Termination Liability
as defined herein in accordance with Attachment A. Upon termination of this
Agreement, USC shall immediately cease to use "the Marks".

TERMINATION LIABILITY
In the case of early termination, for convenience but not for breach by USC, CTN
shall owe a Termination Liability to USC to be calculated as follows: (a) If
written notification of termination is received by USC prior to April 1, 2000,
50% of the USC Administration Fee as detailed in Attachment A will be the agreed
to fee amount; (b) If written notification of termination is received by USC on
or after April 1, 2000 but prior to June 1, 2000, 75% of the USC Administration
Fee detailed in Attachment A will be the agreed to fee amount; (c) If written
notification of termination is received by USC on or after June 1, 2000, 100% of
the USC Administration Fee detailed in Attachment A will be the agreed to fee
amount.

In the case of termination due to alleged breach of Agreement, USC's
Administration Fee, as detailed in Attachment A, will be paid pro-rata up to the
date written notice of termination is received by USC provided, however that CTN
and USC shall have all of its remedies, in law and in equity.

X.   CONFIDENTIALITY

USC acknowledges that all information about CTN and their respective parents,
subsidiaries and affiliates, and their officers, directors and employees, its
business, pricing and marketing strategy, advertising, network, rate and pricing
databases, hardware and software systems, operation and customers that USC
and/or its employees, agents and/or subcontractors learn in any way and from any
source as a result of this Promotion or this Agreement are CTN trade secrets and
are confidential and proprietary information of CTN. USC shall receive such
trade secrets and/or confidential or proprietary information in confidence,
shall hold the same in trust, shall not disclose or furnish the same to any
third party without CTN's prior written consent, and shall not use the same for
any purpose other than the performance of its obligations under this Agreement
or otherwise in direct connection with the operation of this Agreement. USC
agrees to use its best efforts and take all lawful measures to ensure its
employees, agents, subcontractors and other representatives fully comply with
the terms of this paragraph, and USC agrees to be responsible for any breaches
of this Confidentiality provision of this Agreement by its employees, agents,
subcontractors and other representatives.

Upon the termination or expiration of this Agreement, USC shall return or, at
the discretion of CTN, destroy all CTN or trade secrets and/or confidential and
proprietary material in USC's care, custody or control. Notwithstanding the
foregoing, this paragraph shall not apply to information that is or becomes
publicly available through no fault of USC, was already in the possession of USC
at the time of disclosure by CTN, is independently developed by USC, or is
legitimately and lawfully obtained by USC from third parties not under
obligations or confidentiality to CTN.

The Confidentiality obligations hereunder shall survive the termination or
expiration of this Agreement.

XI.  WARRANTY

USC represents and warrants that it has the full right, power and authority to
enter in this Agreement and to perform its obligations described herein. USC
further warrants that it has the expertise in the development and implementation
of consumer promotions, and that the services it is required to perform will be
performed in strict compliance with all federal, state and local laws and
regulations.

USC warrants that Services to be provided hereunder will be performed in a
professional and workmanlike manner in accordance with the highest applicable
professional standards.

USC warrants that it shall, operate and maintain properly all equipment and
other items utilized to perform the Services contemplated in this Agreement
together with:

          1. All necessary spare parts, tools, and equipment for proper
equipment operation and maintenance; and

          2. Sufficient licensed and skilled personnel, who shall be employees,
agents, or third party suppliers to USC, to perform required maintenance and
operation of the equipment.

This section shall survive the expiration or termination of this Agreement.

<PAGE>

XII. OWNERSHIP OF WORK

All material developed by USC for use by USC and/or CTN and/or PIOC pursuant to
this Agreement shall be deemed "work made for hire" under U.S. copyright law. In
the event any Materials shall not qualify as "work made for hire" within the
meaning of the Copyright Act, USC agrees to assign and hereby does irrevocably
assign its copyrights related to these Materials to CTN in perpetuity, and
shall, without additional charge to CTN and at CTN's request, give CTN such
information and execute any documents required to vest all such copyrights in
CTN. CTN shall have sole ownership and exclusive use of all Materials developed
by USC for USC's and/or CTN's use pursuant to this Agreement.

CTN and its assigns shall have the full, sole and continuing right (without
any payments or liabilities to any person) to use, publish, perform,
reproduce, and distribute throughout the world any or all portions of the
Materials, either as a complete unit or in segments, in any way CTN sees fit,
and for any purpose whatsoever.

XIII. STATUS

USC's status hereunder is that of an independent contractor. USC has no
authority to hire any person on behalf of CTN and neither USC's principals nor
any other person engaged in performing services hereunder shall be employees of
CTN. USC shall comply with all requirements of federal, state and local laws and
regulations regarding an independent contractor and employer. No agency,
partnership, joint venture or employment relationship shall be created or
inferred by the existence or performance of this Agreement, and neither party
shall have any authority to bind the other party in any respect whatsoever.

XIV.  EXCLUSIVITY

This Agreement and the assignment provided for herein shall in no way be deemed
exclusive to USC. CTN retains the right to work with any third parties on this
subject matter both during and after the termination of the term of the
Agreement.

No commitment is made either directly or by implication regarding new or
additional assignments from CTN following the completion of the term of this
Agreement.

<PAGE>

XV.  NON-DISCRIMINATION

This Agreement shall be implemented in strict compliance with all Federal and
State laws regarding discrimination in employment. Specifically, the parties
agree that they will not discriminate by reason of race, color, creed, national
origin, age or sex.

XVI. COMPLETE AGREEMENT

This Agreement sets forth the entire Agreement between the parties concerning
the promotions, superseding all prior verbal or written communications with
respect to the terms hereof and may not be altered, modified or changed in any
way by either party without the prior written consent of the other. This
Agreement may not be assigned by either party, by operation of the law, or
otherwise.

XVII. GOVERNING LAW

This Agreement shall be deemed to have been made in the State of New York
governed by the laws of the State of New York, except for the provisions
governing conflicts of law.

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XVIII. UNUSUAL CIRCUMSTANCES

If, for any reason not under the control of either party, including, without
limitation, strikes, enforcement of government laws or regulations, unusual
weather conditions, fire or similar unforeseen calamity, either party cannot
perform its obligations pursuant to this Agreement, then, in such an event, the
terms of this Agreement, and the duties and obligations of the parties
thereunder, shall be suspended for such a time as may be reasonable under
circumstances. All parties shall, in such an event, put best efforts forward to
perform its obligations pursuant to this Agreement.

If the foregoing is in accordance with your understanding and is acceptable to
you, please so indicate by signing all copies of the enclosed Agreement and
returning two of them to USC.

AGREED AND ACCEPTED:

DATE: 6/12/00                          BY: /s/ MARTIN GRANT
     ----------------------                ---------------------------------
                                       CTN Media Group, Inc.

DATE: 6/12/00                          BY: /s/
     ----------------------                ---------------------------------
                                       US Concepts, Inc.
                                       16 West 22nd Street
                                       New York, New York 10010

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                                 ATTACHMENT "B"
                                PAYMENT SCHEDULE

Due on March 15, 2000                           $  75,000

Due on June 1, 2000                             $  75,000

Due on August 1, 2000                           $ 100,000

Due on September 1, 2000                        $ 100,000

Due on October 31, 2000                         $  34,750*

TOTAL PAYMENTS                                  $ 384,750*

*Final reconciliation will follow of all asterisked line items on Attachment A
with incremental billing or refund to CTN<PAGE>

                                                                    EXHIBIT 10.5

                       THIRD AMENDMENT TO CREDIT AGREEMENT

         THIS THIRD AMENDMENT TO CREDIT AGREEMENT, dated as of June 5, 2000
(this "AGREEMENT") is between CTN MEDIA GROUP, INC., a Delaware corporation
f/k/a College Television Network, Inc. (the "BORROWER"), and LASALLE BANK
NATIONAL ASSOCIATION ("LENDER").

                               W I T N E S S E T H

         WHEREAS, the Borrower and Lender are pates to that certain Credit
Agreement dated as of July 26, 1999, as amended by that certain First Amendment
to Credit Agreement dated as of August 31, 1999 and as further amended by that
certain Second Amendment to Credit Agreement dated as of October 15, 1999 (as so
amended and from time to time hereafter amended, restated, supplemented and in
effect, the "CREDIT AGREEMENT" capitalized terms not otherwise defined herein
shall have the definition provided THEREFOR IN the Credit Agreement) and to
certain other documents executed in connection with the Credit Agreement.

         WHEREAS, an Event of Default occurred as a result of Borrower's failure
to meet the minimum EBITDA level pursuant to Section 10.6.1 of the Credit
Agreement for the measurement period ending March 31, 2000 and Lender has
heretofore waived such default, and only such default, in a certain waiver
letter dated May 9, 2000;

         WHEREAS, Section 10.21 of the Credit Agreement provides that the
Borrower and its Subsidiaries (which term excludes MPM) may not make or permit
to exist any Investment in any Person, except as expressly permitted thereunder
or as consented to in writing by Lender.

         WHEREAS, the Borrower desires to invest aggregate amounts of up to
$3,000,000 from time to time in youth oriented internet companies, which
investments would, at such time, represent a minority interest of the aggregate
issued and outstanding capital stock of such companies on a fully diluted basis.

         WHEREAS, Borrower intends to enter into new or replacement leases in
connection with its New York and its Atlanta offices, for amounts in excess of
the limits set forth in Section 10.9 of the Credit Agreement,

         WHEREAS, Borrower has requested that Lender (i) increase the Operating
Lease limit set forth in Section 10.9 of the Credit Agreement, (ii) permit and
issue, separately and apart from the Revolving Commitment under the Credit
Agreement, a standby letter of credit on behalf of Borrower in connection with
entering into a new lease by Borrower for its Atlanta operations, (iii) reset
the minimum EBITDA financial performance covenant set forth in Section 10.6.1 of
the Credit Agreement based on revised financial projections of Borrower, and
(iv) waive the provisions of Section 10.21 of the Credit Agreement in order to
permit the aforesaid investments by Borrower (the foregoing being referred to
collectively as the "Requested Modifications").

         WHEREAS, the parties wish to amend the Credit Agreement as provided
herein.

                                      -1-

<PAGE>

         NOW, THEREFORE, in of the foregoing premises (which are incorporated
herein by this reference thereto), to induce Lender to consent to the Requested
Modifications, and for other valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:

         1.   AMENDMENTS TO THE CREDIT AGREEMENT. Effective upon satisfaction of
the conditions precedent set forth in Section 6 below, and in reliance upon the
representations and warranties of the Borrower set forth in the Credit Agreement
and in this Agreement, the Credit Agreement is hereby amended and the Borrower
and Lender agree as follows:

         (A)  Section 10.6.1 of the Credit Agreement is hereby amended by
deleting said Section in its entirety and substituting the following new Section
10. 6. 1 therefor:

              "EBITDA. Not permit EBITDA for any measurement period
              indicated below to be less than the applicable amount
              set forth below for such measurement period:

<TABLE>
<CAPTION>

                        MEASUREMENT
                        PERIOD ENDING                                  EBITDA
                        -------------                                  ------
              <S>                                                 <C>
              Calendar quarter ending June 30, 2000                -$4,600,000
              Calendar quarter ending September 30, 2000           -$1,100,000
              Calendar quarter ending December 31, 2000             $3,100,0001"

</TABLE>

         (B)  Section 10.7 of the Credit Agreement is hereby amended by (i) by
striking the word "and" at the end of subsection (g) thereof and adding the word
"and" at the end of subsection (h) thereof, and (ii) by inserting the following
new subsection (i) after subsection (h) thereof

              "(i) the Letter of Credit."

         (C)  Section 10.9 of the Credit Agreement is hereby amended by deleting
the amount of "$600,000 appearing in the third line thereof and substituting the
amount "$900,000" therefor.

         (D)  Section 10.21 of the Credit Agreement is hereby amended (i) by
striking the word "and" at the end of subsection (f) thereof and adding the word
"and" at the end of subsection (g) thereof, and (ii) by inserting the following
new subsection (h) after subsection (g) thereof:

              "(h)  Borrower may make Permitted Equity Investments;

         (E)  Section 1. 1 is hereby amended by inserting the following new
defined terms in their appropriate alphabetic order:

              "Letter of Credit" shall mean that certain standby letter of
         credit, Number S524518, in the maximum original face amount of $125,000
         issued by Lender, under and pursuant to that certain Application for
         Standby Letter of Credit and Master Letter of

                                      -2-

<PAGE>

         Credit Agreement (the "L/C Applications"), for the account of Borrower
         and for the benefit of ML-Capital City, L.L.C. and Lakes-Capital City,
         L.L.C., as landlord in connection with that certain lease entered into
         by Borrower for premises known as One Capital City Plaza located in
         Atlanta, Georgia, which Letter of Credit expires on June 1, 2001."

               "Permitted Equity Investment" mean an Investment by Borrower in a
       Person which satisfies all of the following conditions:

                   (i) such Investment is funded entirely by cash equity
                   contributed by stockholders of Borrower and not from THE
                   operations or as of Borrower or by Borrower directly or
                   indirectly incurring any additional Debt;

                   (ii) the aggregate amount of such investment shall not
                   exceed, and Borrower shall not commit to invest more than an
                   aggregate of $3,000,000 in any one Person or related
                   Persons, and Borrower shall not enter into any capital
                   call obligations, open commitment to fund additional
                   equity or like arrangement;

                   (iii) such Investment represents, in its entirety, a minority
                   interest in the aggregate issued and outstanding capital
                   stock of such Person on a fully diluted basis;

                   (iv) such Investment is a purely passive investment of
                   equity by Borrower, conferring onto Borrower no rights to
                   participate (other than to vote such capital stock in the
                   normal course in accordance with such Person's organizational
                   and governance documents) and Borrower shall not
                   participate, in the active day to day management of such
                   Person;

                   (iv) such Investments shall be only in youth oriented
                   internet companies; and

                   (v) such Person undertakes or commits to advertise its
                   products or services with Borrower for an aggregate fee to
                   Borrower in amount substantially equivalent to the amount
                   invested by Borrower in such Person, and an terms and
                   conditions that do not deviate substantially from
                   Borrower's standard, market based rates, terms and
                   conditions. "

         3.   CONSENT AND WAIVER. Effective upon satisfaction of the conditions
precedent set forth in Section 6 below, and in reliance upon the representations
and warranties of the Borrower set forth in the Credit Agreement and in this
Agreement, Lender hereby consents to (i) the purchase by Borrower of 100 Class A
Management Units of U-C Holdings, LLC, a Delaware limited liability company ("UC
Holdings"), from Peter Kauff ("Kauff") pursuant to and in accordance with that
certain Purchase and Reaffirmation Agreement by and between Kauff and Borrower
dated as of May 24, 2000, for a maximum aggregate purchase price of $275,000,
and (ii) to the subsequent transfer of such Units to other management employees
of Borrower as part of Borrower's management incentive plans, notwithstanding
the provisions of Sections 10.10, 10.15 or 10.21 of the Credit Agreement to the
contrary, which provisions are hereby waived to the extent, and only to the
extent, the same may be construed to prohibit the foregoing transactions. This
is a consent and one time waiver with respect to the foregoing transactions

                                      -3-

<PAGE>

only and is not intended as, nor should it be construed as being, a waiver of
any other provision of the Credit Agreement or of any other Loan Document or as
constituting a course of dealing or conduct as between the parties.

         4.   REAFFIRMATION. The Borrower and each of its respective
Subsidiaries (other than MPM), as guarantors, debtors, grantors, pledgors
(including in connection with any negative pledges), assignors, or in other
similar capacities in which such parties guarantee the Obligations, grant liens
or security interests in their properties or otherwise act as accommodation
parties, as the case may be, in any case under the Loan Documents, hereby each
ratifies and reaffirms all of its payment and performance obligations,
contingent or otherwise, affirmative or negative under each of such existing
Loan Documents to which it is a party and, to the extent such party granted Hens
on or security interests in any of its properties pursuant to any such existing
Loan Documents as security for the Borrower's obligations under or with respect
to the Credit Agreement, each hereby ratifies and reaffirms such grant of liens
and security interests and confirms and agrees that such liens and security
interests hereafter secure all of the Obligations, in each cue as if each
reference in such existing Loan Documents to the obligations secured thereby are
construed to hereafter mean and refer to such Obligations under the Credit
Agreement and other Loan Documents as hereby amended. Each of the foregoing
hereby acknowledges that each of the Loan Documents remains in full force and
effect and is hereby ratified and confirmed. The execution of this Agreement
shall not operate as a novation, waiver of any right, power or remedy of Lender
nor constitute a waiver of any provision of any of the Loan Documents, except as
expressly set forth herein and shall be limited to the particular instance
expressly set forth. The Borrower and each of the foregoing Persons confirm and
agree that the Guaranty and the Security Agreement and each and every covenant,
condition, obligation, representation (except those representations which relate
only to a specific date, which are confirmed as of such date only), warranty and
provision set forth therein are, and shall continue to be in full force and
effect and are hereby confirmed, reaffirmed and ratified in all respects.

         5.   REPRESENTATIONS AND WARRANTIES. To induce Lender to enter into
this Agreement, the Borrower represents and warrants to Lender that the
execution, delivery and performance by such Person of this Agreement are within
its corporate power, have been duly authorized by all necessary corporate action
and do not and will not contravene or conflict with any provision of law
applicable to such Person, the Certificate of Incorporation or By-laws of such
Person, or any order, judgment or decree of any court or other agency of
government or any contractual obligation binding upon such Person; and the
Credit Agreement as amended as of the date hereof is the legal, valid and
binding obligation of the Borrower enforceable against the Borrower in
accordance with its terms.

         6.   CONDITIONS. The effectiveness of the amendments and consents
stated in the Agreement is subject to each of the following conditions precedent
or concurrent:

         (a)  NO DEFAULT. No Default or Event of Default under the Credit
Agreement, as amended hereby, shall have occurred and be continuing;

         (b)  WARRANTIES AND REPRESENTATIONS. The warranties and representations
of the Borrower contained in this Agreement, the Credit Agreement, as amended
hereby, and the other

                                      -4-

<PAGE>

Loan Documents, shall be true and correct as of the effective date hereof, with
the same effect as though made on such date, except for the revisions to the
schedule to the Credit Agreement attached hereto as Exhibits and except those
representations which relate only to a specific date, which are confirmed as of
such date only;

         (C)  DELIVERY OF THIRD AMENDMENT. The Borrower, UC Holdings and Willis
Stein & Partners, L.P. shall have executed and delivered this Agreement and any
Joinders hereto, to Lender;

         (D)  AUTHORIZATION. A copy, duly certified by the secretary or an
assistant secretary of each such Person, of (i) resolutions of such Person's
Board of Directors (or like authority), authorizing or ratifying the execution
and delivery of this Amendment (which copies may be delivered to Lender within
60 days of the date hereof), (ii) all documents evidencing other necessary
corporate action, and (iii) all approvals or consents, if any, with respect to
this Agreement shall have been delivered to Lender;

         (E)  OTHER. Such other documents as the Lender may reasonably require;
and

         (F)  PAYMENT OF FEES AND EXPENSES. Payment by the Borrower of fees and
expenses of Lender incurred in connection with the negotiation and documentation
of this Agreement, including, without limitation, all reasonable attorneys'
fees.

         7.   MISCELLANEOUS.

         (a)  CAPTIONS. Section captions used in this Agreement are for
convenience only, and shall not affect the construction of this Agreement.

         (b)  GOVERNING LAW. This Agreement shall be a contract made under and
governed by the laws of the State of Illinois, without regard to conflict of
laws principals. Whenever possible each provision of this Agreement shall be
interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Agreement shall be prohibited by or invalid under
such law, such provision shall be ineffective to the extent of such prohibition
or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Agreement.

         (c)  COUNTERPARTS. This Agreement may be executed in any number of
counterparts, and each such counterpart shall be deemed to be an original, but
all such counterparts shall together constituted but one and the same Agreement.

         (d)  SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon the
Borrower (and the Joinders attached hereto shall be binding on UC Holdings) and
on their respective successors and assigns, and shall inure to the sole benefit
of the Lender and its successors and assigns.

         (e)  REFERENCES. Any reference to the Credit Agreements contained in
any notice, request, certificate, or other document executed concurrently with
or after the execution

                                      -5-

<PAGE>

and delivery of this Agreement shall be deemed to include this Agreement unless
the context shall otherwise requires.

         (f)  CONTINUED EFFECTIVENESS. The Credit Agreement as amended hereby
and each of the other Loan Documents remains in full force and effect.

         (g)  THE LETTER OF CREDIT. Borrower acknowledges that the Letter of
Credit constitutes Debt, as defined in the Credit Agreement, is issued pursuant
to the L/C Applications and not pursuant to the Credit Agreement, is secured by
a certificate of deposit in the face amount of $125,000, and is cross
collateralized and cross defaulted with the Credit Agreement. Accordingly,
Borrower hereby agrees that any default under the Credit Agreement (so long as
it is in force and effect), and any default under the Credit Agreement shall
constitute a default under the L/C Applications allowing Lender, among other
things, to liquidate and apply any collateral securing Borrower's obligations
under the L/C Applications (including the aforementioned certificate of deposit)
as Lender deems appropriate, subject to the provisions of the Credit Agreement.

         (h)  COSTS, EXPENSES AND TAXES. The Borrower agrees to pay to Lender
upon demand for all reasonable expenses, including reasonable attorneys' and
legal assistants' fees, all recording fees and charges, or other fees or charges
incurred by Lender in connection with the preparation, negotiation and execution
of this Agreement and all documents related thereto and any document required to
be furnished herewith.

                    BALANCE OF PAGE INTENTIONALLY LEFT BLANK
                          -- SIGNATURE PAGE FOLLOWS --

                                      -6-

<PAGE>

         This Third Amendment to Credit Agreement is executed and delivered at
Chicago, Illinois, as of the day and year first above written.

                                  CTN MEDIA. GROUP, INC., a Delaware
                                  corporation

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

                                  LASALLE BANK NATIONAL ASSOCIATION,
                                  a national banking association

                                  By:
                                     ----------------------------------
                                  Title: First Vice President

                                      -7-

<PAGE>

                                     JOINDER

         This Joinder to Third Amendment to Credit Agreement dated as of May
___, 2000 between CTN Media Group, Inc. and LaSalle Bank National Association
(the "Third Amendment"). Defined terms not otherwise defined here to the
contrary shall have the respective meanings ascribed to them in the Credit
Agreement as that term is defined in the Third Amendment. The undersigned hereby
acknowledges receipt of a counterpart of the Third Amendment and acknowledges
and confirms that its obligations under that certain Negative Pledge Agreement
dated as of July 26, 1999 made by the undersigned to LaSalle Bank National
Association hereby continue unmodified and in full force and effect,
notwithstanding the execution and delivery of the Third Amendment.

                                  WILLIS STEIN & PARTNERS L.P., a
                                  Delaware limited partnership

                                  By: Willis Stein & Partners, L.L.C., Its
                                  General Partner

                                      -8-

<PAGE>

                                     JOINDER

         This Joinder to Third Amendment to Credit Agreement dated as of May
___, 2000 between CTN Media Group, Inc. and LaSalle Bank National Association
(the "Third Amendment"). Defined terms not otherwise defined here to the
contrary shall have the respective meanings ascribed to them in the Credit
Agreement as that term is defined in the Third Amendment. The undersigned hereby
acknowledges receipt of a counterpart of the Third Amendment and acknowledges
and confirms that its obligations under that certain Negative Pledge Agreement
dated as of July 26, 1999 made by the undersigned to LaSalle Bank National
Association hereby continue unmodified and in full force and effect,
notwithstanding the execution and delivery of the Third Amendment.

                                  U-C HOLDINGS, LLC., a Delaware limited
                                  company

                                      -9-

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