Document:

EXHIBIT 10.2

                                                 April 25, 2006

Media & Entertainment Holdings, Inc.
4429 Edmondson Avenue
Dallas, Texas 75205

Ladenburg Thalmann & Co. Inc.
590 Madison Avenue, 34th Floor
New York, New York 10022

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

                Re:            INITIAL PUBLIC OFFERING
               -------------- ------------------------

Gentlemen:

                The undersigned stockholder,  officer and/or director of Media &
Entertainment Holdings, Inc. ("Company"), in consideration of Ladenburg Thalmann
& Co. Inc.  ("Ladenburg")  entering into a letter of intent ("Letter of Intent")
to  underwrite  an initial  public  offering  of the  securities  of the Company
("IPO") and  embarking on the IPO  process,  hereby  agrees as follows  (certain
capitalized terms used herein are defined in paragraph 11 hereof):

                1.      If the Company solicits  approval of its stockholders of
a Business  Combination,  the  undersigned  will vote all Insider Shares and IPO
Shares  owned by him in  accordance  with the  majority of the votes cast by the
holders of the IPO Shares,  other than  Insiders,  officers and directors of the
Company.

                2.      In the event  that the  Company  fails to  consummate  a
Business Combination within 18 months from the effective date ("Effective Date")
of the  registration  statement  relating  to the IPO (or 24  months  under  the
circumstances  described in the prospectus relating to the IPO), the undersigned
will take all  reasonable  actions  within  his power to cause  the  Company  to
liquidate as soon as reasonably  practicable.  The undersigned hereby waives any
and all right, title, interest or claim of any kind in or to any distribution of
the  Trust  Fund (as  defined  in the  Letter  of  Intent)  as a result  of such
liquidation  with respect to his Insider Shares  ("Claim") and hereby waives any
Claim the  undersigned may have in the future as a result of, or arising out of,
any contracts or agreements with the Company and will not seek recourse  against
the Trust Fund for any reason  whatsoever.  The undersigned  agrees to indemnify
and hold  harmless  the  Company  against any and all loss,  liability,  claims,
damage and expense whatsoever (including,  but not limited to, any and all legal
or other expenses reasonably  incurred in investigating,  preparing or defending
against any litigation,  whether pending or threatened, or any claim whatsoever)
which the Company may become subject as a result of any claim by any vendor that
is owed money by the Company for services  rendered or products sold but only to
the extent  necessary  to ensure  that such loss,  liability,  claim,  damage or
expense  does not reduce the amount in the Trust Fund (as  defined in the Letter
of Intent).

                                       6
<PAGE>

Media & Entertainment Holdings, Inc.
Ladenburg Thalmann & Co. Inc.
April 25, 2006
Page 2

                3.      In order to  minimize  potential  conflicts  of interest
which may arise from multiple affiliations, the undersigned agrees to present to
the Company for its consideration,  prior to presentation to any other person or
entity,  any suitable  opportunity to acquire an operating  business,  until the
earlier  of the  consummation  by the  Company of a  Business  Combination,  the
liquidation of the Company or until such time as the undersigned ceases to be an
officer  or  director  of the  Company,  subject to any  pre-existing  fiduciary
obligations the undersigned might have.

                4.      The undersigned acknowledges and agrees that the Company
will not consummate any Business  Combination  which involves a company which is
affiliated  with any of the Insiders  unless the Company obtains an opinion from
an independent  investment banking firm reasonably  acceptable to Ladenburg that
the business combination is fair to the Company's  stockholders from a financial
perspective.

                5.      Neither the undersigned, any member of the family of the
undersigned,  nor any Affiliate of the  undersigned  will be entitled to receive
and will not accept any compensation for services  rendered to the Company prior
to the consummation of the Business Combination; provided that commencing on the
Effective Date, Transmedia  Corporation  ("Related Party"),  shall be allowed to
charge the Company an allocable  share of Related Party's  overhead,  $7,500 per
month, to compensate it for certain  administrative,  technology and secretarial
services,  as well as the use of certain  limited office space in Dallas,  Texas
that it will provide to the Company.  Related  Party and the  undersigned  shall
also be entitled  to  reimbursement  from the  Company  for their  out-of-pocket
expenses  incurred  in  connection  with  seeking  and  consummating  a Business
Combination.

                6.      Neither the undersigned, any member of the family of the
undersigned,  or any Affiliate of the undersigned will be entitled to receive or
accept a finder's fee or any other  compensation  in the event the  undersigned,
any member of the family of the  undersigned or any Affiliate of the undersigned
originates a Business Combination.

                7.      The  undersigned  will escrow his Insider Shares for the
period   commencing  on  the  Effective  Date  and  ending  one  year  from  the
consummation of a business  combination,  subject to the terms of a Stock Escrow
Agreement  which the Company will enter into with the  undersigned and an escrow
agent acceptable to the Company.

                8.      The  undersigned  agrees  to  be  the  President,  Chief
Operating  Officer  and  Director  of  the  Company  until  the  earlier  of the
consummation by the Company of a Business  Combination or the liquidation of the
Company. The undersigned's biographical information furnished to the Company and
Ladenburg and attached hereto as Exhibit A is true and accurate in all respects,
does  not  omit any  material  information  with  respect  to the  undersigned's
background and contains all of the information required to be disclosed pursuant
to Section 401 of Regulation S-K,  promulgated under the Securities Act of 1933.
The  undersigned's  Questionnaire  furnished  to the Company and  Ladenburg  and
annexed  as  Exhibit  B  hereto  is  true  and  accurate  in all  respects.  The
undersigned represents and warrants that:

                                       2
<PAGE>

Media & Entertainment Holdings, Inc.
Ladenburg Thalmann & Co. Inc.
April 25, 2006
Page 3

                (a)     he is not subject to or a respondent in any legal action
for, any injunction, cease-and-desist order or order or stipulation to desist or
refrain from any act or practice  relating to the offering of  securities in any
jurisdiction;

                (b)     he has never been  convicted of or pleaded guilty to any
crime (i) involving any fraud or (ii) relating to any financial  transaction  or
handling of funds of another person,  or (iii) pertaining to any dealings in any
securities and he is not currently a defendant in any such criminal  proceeding;
and

                (c)     he has never been suspended or expelled from  membership
in any securities or commodities  exchange or association or had a securities or
commodities license or registration denied, suspended or revoked.

                9.      The  undersigned  has  full  right  and  power,  without
violating  any  agreement  by  which he is  bound,  to enter  into  this  letter
agreement and to serve as President, Chief Operating Officer and Director of the
Company.

                10.     The  undersigned  authorizes  any  employer,   financial
institution, or consumer credit reporting agency to release to Ladenburg and its
legal  representatives  or  agents  (including  any  investigative  search  firm
retained by Ladenburg)  any  information  they may have about the  undersigned's
background  and  finances  ("Information"),  purely  for  the  purposes  of  the
Company's IPO (and shall thereafter hold such information confidential). Neither
Ladenburg nor its agents shall be violating the  undersigned's  right of privacy
in any manner in requesting and obtaining the  Information  and the  undersigned
hereby  releases  them  from  liability  for  any  damage   whatsoever  in  that
connection.

                11.     As used herein, (i) a "Business  Combination" shall mean
an acquisition by merger,  capital stock exchange,  asset or stock  acquisition,
reorganization or otherwise,  of an operating  business selected by the Company;
(ii)  "Insiders"  shall mean all officers and directors who are  stockholders of
the Company  immediately prior to the IPO; (iii) "Insider Shares" shall mean all
of the shares of Common  Stock of the Company  owned by an Insider  prior to the
IPO; and (iv) "IPO  Shares"  shall mean the shares of Common Stock issued in the
Company's IPO.

                                       3
<PAGE>

Media & Entertainment Holdings, Inc.
Ladenburg Thalmann & Co. Inc.
April 25, 2006
Page 5

                12.     The  undersigned  hereby  waives  his right to  exercise
conversion  rights with respect to any Insider Shares and/or IPO Shares owned by
the  undersigned,  directly  or  indirectly,  and  agrees  that he will not seek
conversion  with respect to such Insider  Shares and/or IPO Shares in connection
with any vote to approve a Business  Combination  (as is more fully described in
the Company's Prospectus relating to its IPO).

                                                   /s/ Harvey M. Seslowsky
                                                   -----------------------
                                                   Harvey M. Seslowsky

                                       4
<PAGE>

Media & Entertainment Holdings, Inc.
Ladenburg Thalmann & Co. Inc.
April 25, 2006
Page 5

                                    EXHIBIT A

HARVEY M. SESLOWSKY has been our President and Chief Operating Officer and a
Director of our company since August 2005. Since August 2003, Mr. Seslowsky has
been the President of Transmedia Corporation, a private media consulting firm he
founded which provides consulting services to a wide variety of clients,
including Accenture Ltd., one of the world's leading management consulting and
technology services organizations. From October 2002 to August 2003, Mr.
Seslowsky served as a consultant to Accenture Ltd. From October 2000 to
September 2002, Mr. Seslowsky served as Executive Vice President of Worldwide
Sales & Distribution for Blockbuster International Distribution, a division of
Blockbuster Inc., a leading global provider of in-home rental and retail movie
and game entertainment, and from February 1995 to October 2000, as Senior Vice
President, National Sales, Partnership Marketing & Licensing of Blockbuster,
Inc. Mr. Seslowsky has been active as a Consultant/New Business Development
since 1990, and served as President and a Director of Scat Hovercraft, Inc., a
company engaged in the Hovercraft industry, from 1990 to 1991, as President and
a Director of Media Merchandising Corporation, the publisher of The Video Source
Book and maintainer of the world's largest and most comprehensive data base on
the home video business, from 1988 to 1990, and as President of Broadcast
Information Bureau Inc., a trade book and magazine publisher, where he served as
a consultant to over 50 television stations. Prior to that time, he served as an
Account Executive of ABC Television Network. Mr. Seslowsky is also a director of
the International Academy of Television Arts & Sciences (IATAS).

                                       5EXHIBIT 10.3

                                                 April 25, 2006

Media & Entertainment Holdings, Inc.
4429 Edmondson Avenue
Dallas, Texas 75205

Ladenburg Thalmann & Co. Inc.
590 Madison Avenue, 34th Floor
New York, New York 10022

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

                Re:            INITIAL PUBLIC OFFERING
               -------------- ------------------------

Gentlemen:

                The undersigned stockholder,  officer and/or director of Media &
Entertainment Holdings, Inc. ("Company"), in consideration of Ladenburg Thalmann
& Co. Inc.  ("Ladenburg")  entering into a letter of intent ("Letter of Intent")
to  underwrite  an initial  public  offering  of the  securities  of the Company
("IPO") and  embarking on the IPO  process,  hereby  agrees as follows  (certain
capitalized terms used herein are defined in paragraph 11 hereof):

                1.      If the Company solicits  approval of its stockholders of
a Business  Combination,  the  undersigned  will vote all Insider Shares and IPO
Shares  owned by him in  accordance  with the  majority of the votes cast by the
holders of the IPO Shares,  other than  Insiders,  officers and directors of the
Company.

                2.      In the event  that the  Company  fails to  consummate  a
Business Combination within 18 months from the effective date ("Effective Date")
of the  registration  statement  relating  to the IPO (or 24  months  under  the
circumstances  described in the prospectus relating to the IPO), the undersigned
will take all  reasonable  actions  within  his power to cause  the  Company  to
liquidate as soon as reasonably  practicable.  The undersigned hereby waives any
and all right, title, interest or claim of any kind in or to any distribution of
the  Trust  Fund (as  defined  in the  Letter  of  Intent)  as a result  of such
liquidation  with respect to his Insider Shares  ("Claim") and hereby waives any
Claim the  undersigned may have in the future as a result of, or arising out of,
any contracts or agreements with the Company and will not seek recourse  against
the Trust Fund for any reason  whatsoever.  The undersigned  agrees to indemnify
and hold  harmless  the  Company  against any and all loss,  liability,  claims,
damage and expense whatsoever (including,  but not limited to, any and all legal
or other expenses reasonably  incurred in investigating,  preparing or defending
against any litigation,  whether pending or threatened, or any claim whatsoever)
which the Company may become subject as a result of any claim by any vendor that
is owed money by the Company for services  rendered or products sold but only to
the extent  necessary  to ensure  that such loss,  liability,  claim,  damage or
expense  does not reduce the amount in the Trust Fund (as  defined in the Letter
of Intent).

<PAGE>

Media & Entertainment Holdings, Inc.
Ladenburg Thalmann & Co. Inc.
April 25, 2006
Page 2

                3.      In order to  minimize  potential  conflicts  of interest
which may arise from multiple affiliations, the undersigned agrees to present to
the Company for its consideration,  prior to presentation to any other person or
entity,  any suitable  opportunity to acquire an operating  business,  until the
earlier  of the  consummation  by the  Company of a  Business  Combination,  the
liquidation of the Company or until such time as the undersigned ceases to be an
officer  or  director  of the  Company,  subject to any  pre-existing  fiduciary
obligations the undersigned might have.

                4.      The undersigned acknowledges and agrees that the Company
will not consummate any Business  Combination  which involves a company which is
affiliated  with any of the Insiders  unless the Company obtains an opinion from
an independent  investment banking firm reasonably  acceptable to Ladenburg that
the business combination is fair to the Company's  stockholders from a financial
perspective.

                5.      Neither the undersigned, any member of the family of the
undersigned,  nor any Affiliate of the  undersigned  will be entitled to receive
and will not accept any compensation for services  rendered to the Company prior
to the consummation of the Business Combination; provided that commencing on the
Effective Date, Transmedia  Corporation  ("Related Party"),  shall be allowed to
charge the Company an allocable  share of Related Party's  overhead,  $7,500 per
month, to compensate it for certain  administrative,  technology and secretarial
services,  as well as the use of certain  limited office space in Dallas,  Texas
that it will provide to the Company.  Related  Party and the  undersigned  shall
also be entitled  to  reimbursement  from the  Company  for their  out-of-pocket
expenses  incurred  in  connection  with  seeking  and  consummating  a Business
Combination.

                6.      Neither the undersigned, any member of the family of the
undersigned,  or any Affiliate of the undersigned will be entitled to receive or
accept a finder's fee or any other  compensation  in the event the  undersigned,
any member of the family of the  undersigned or any Affiliate of the undersigned
originates a Business Combination.

                7.      The  undersigned  will escrow his Insider Shares for the
period   commencing  on  the  Effective  Date  and  ending  one  year  from  the
consummation of a business  combination,  subject to the terms of a Stock Escrow
Agreement  which the Company will enter into with the  undersigned and an escrow
agent acceptable to the Company.

                8.      The   undersigned   agrees  to  be  the  Executive  Vice
President  and Chief  Financial  Officer of the Company until the earlier of the
consummation by the Company of a Business  Combination or the liquidation of the
Company. The undersigned's biographical information furnished to the Company and
Ladenburg and attached hereto as Exhibit A is true and accurate in all respects,
does  not  omit any  material  information  with  respect  to the  undersigned's
background and contains all of the information required to be disclosed pursuant
to Section 401 of Regulation S-K,  promulgated under the Securities Act of 1933.
The  undersigned's  Questionnaire  furnished  to the Company and  Ladenburg  and
annexed  as  Exhibit  B  hereto  is  true  and  accurate  in all  respects.  The
undersigned represents and warrants that:

                                       2
<PAGE>

Media & Entertainment Holdings, Inc.
Ladenburg Thalmann & Co. Inc.
April 25, 2006
Page 3

                (a)     he is not subject to or a respondent in any legal action
for, any injunction, cease-and-desist order or order or stipulation to desist or
refrain from any act or practice  relating to the offering of  securities in any
jurisdiction;

                (b)     he has never been  convicted of or pleaded guilty to any
crime (i) involving any fraud or (ii) relating to any financial  transaction  or
handling of funds of another person,  or (iii) pertaining to any dealings in any
securities and he is not currently a defendant in any such criminal  proceeding;
and

                (c)     he has never been suspended or expelled from  membership
in any securities or commodities  exchange or association or had a securities or
commodities license or registration denied, suspended or revoked.

                9.      The  undersigned  has  full  right  and  power,  without
violating  any  agreement  by  which he is  bound,  to enter  into  this  letter
agreement and to serve as Executive Vice President and Chief  Financial  Officer
of the Company.

                10.     Subject to prior notification of the undersigned in each
case,  the  undersigned  authorizes  any  employer,  financial  institution,  or
consumer  credit  reporting  agency  to  release  to  Ladenburg  and  its  legal
representatives  or agents (including any investigative  search firm retained by
Ladenburg) any information they may have about the undersigned's  background and
finances  ("Information"),  purely for the  purposes of the  Company's  IPO (and
shall thereafter hold such information confidential).  Neither Ladenburg nor its
agents shall be violating  the  undersigned's  right of privacy in any manner in
requesting and obtaining the  Information  and the  undersigned  hereby releases
them from liability for any damage whatsoever in that connection.

                11.     As used herein, (i) a "Business  Combination" shall mean
an acquisition by merger,  capital stock exchange,  asset or stock  acquisition,
reorganization or otherwise,  of an operating  business selected by the Company;
(ii)  "Insiders"  shall mean all officers and directors who are  stockholders of
the Company  immediately prior to the IPO; (iii) "Insider Shares" shall mean all
of the shares of Common  Stock of the Company  owned by an Insider  prior to the
IPO; and (iv) "IPO  Shares"  shall mean the shares of Common Stock issued in the
Company's IPO.

                                       3
<PAGE>

Media & Entertainment Holdings, Inc.
Ladenburg Thalmann & Co. Inc.
April 25, 2006
Page 4

                12.     The  undersigned  hereby  waives  his right to  exercise
conversion  rights with respect to any Insider Shares and/or IPO Shares owned by
the  undersigned,  directly  or  indirectly,  and  agrees  that he will not seek
conversion  with respect to such Insider  Shares and/or IPO Shares in connection
with any vote to approve a Business  Combination  (as is more fully described in
the Company's Prospectus relating to its IPO).

                                                   /s/ Robert C. Clauser, Jr.
                                                   --------------------------
                                                   Robert C. Clauser, Jr.

                                       4
<PAGE>

Media & Entertainment Holdings, Inc.
Ladenburg Thalmann & Co. Inc.
April 25, 2006
Page 5

                                    EXHIBIT A

ROBERT C. CLAUSER, JR. has been our Executive Vice President and Chief Financial
Officer of our company since August 2005, and served as a director of our
company from August 2005 to April 2006. Mr. Clauser is currently participating
in the David Rockefeller Fellowship, awarded to him in 2005 for his civic and
corporate achievements, and will complete the one year fellowship in September
2006. Mr. Clauser left Accenture Ltd. in November 2005 where he had served as
Lead Strategy Partner of the Media & Entertainment Practices for the Americas,
having joined the company in October 1997. At Accenture, Mr. Clauser advised
senior executive officers and boards of directors of numerous media and
entertainment companies on setting strategy, transforming operations, and
integrating technology to deliver growth, profitability and value. From August
1993 to September 1997, Mr. Clauser served as Manager of the Consumer Products
and Retail Practice of Braxton Associates, a strategy consulting firm and
division of Deloitte & Touche Consulting Group, where he was responsible for the
development and implementation of strategic initiatives aimed to innovate and
develop new products and new markets, and grow revenue and profitability. From
1988 to 1991, Mr. Clauser served as Assistant Treasurer of the Oil, Gas &
Extractive Industries Division of Irving Trust/The Bank of New York. Mr. Clauser
also serves as a Trustee of the Alliance for the Arts, an arts, advocacy and
research organization, since June 2004; an advisor to Box of Bees Media, a music
production and distribution company, since January 2004; and a board member and
mentor of icouldbe.org, an internet youth mentoring organization, since April
2000; and has previously served as Chief Executive Officer and Producer of
Montage Entertainment, an independent non profit film production company, from
April 1998 to September 2002.

                                       5

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