Document:

SUBSCRIPTION AGREEMENT

      This Subscription Agreement dated as of __________, 2006 (the "Agreement")
is entered  into by and among  Mediavest,  Inc., a New Jersey  corporation  (the
"Company"),  and the  individuals  and entities  listed on Exhibit A hereto (the
"Purchasers").

                                   BACKGROUND

      WHEREAS,  the Company is offering in a private  placement  to  "accredited
investors" (as such term in defined in Regulation D ("Regulation D") promulgated
under the Securities Act of 1933, as amended (the  "Securities  Act")) a minimum
of  $1,500,000  (the  "Minimum  Amount")  and up to  $10,000,000  (the  "Maximum
Amount") of units consisting of (i) one share of common stock, $0.0001 par value
per share,  of the  Company  (the  "Common  Stock")  and (ii) one  Warrant  (the
"Warrant") to purchase,  at an exercise  price of $2.00 per share,  one share of
Common  Stock  (each unit is being sold at an  offering  price of $1.00 per unit
(the "Units")) (the "Offering");

      WHEREAS,  the Purchaser desires to purchase that number of Units set forth
on the signature page hereof on the terms and conditions  hereinafter  set forth
and on the terms and conditions set forth herein;

      NOW,   THEREFORE,   in  consideration  of  the  premises  and  the  mutual
representations and covenants hereinafter set forth, the parties hereto agree as
follows:

      1. Authorization and Sale of Units.

            1.1  Authorization.  The Company has, or before the Initial  Closing
(as  defined in Section 2) will have,  duly  authorized  the sale and  issuance,
pursuant to the terms of this Agreement,  of (a) up to 10,000,000  shares of its
Common  Stock;  and (b) Warrants to purchase up to  10,000,000  shares of Common
Stock in the form attached hereto at Exhibit B.

            1.2 Sale of Units;  Subscription for Units. Subject to the terms and
conditions of this Agreement,  at the applicable Closing,  the Company will sell
and issue to each of the  Purchasers,  and each of the Purchasers  will purchase
the number of Units set forth  opposite such  Purchaser's  name on Exhibit A for
the  purchase  price of $1.00 per  Unit.  The  shares  of  Common  Stock and the
Warrants being sold under this Agreement are sometimes hereinafter  collectively
referred  to as the  "Securities."  The  Company's  agreement  with  each of the
Purchasers  is a  separate  agreement,  and  the  sale of  Units  to each of the
Purchasers is a separate sale.

      To  subscribe  for  Units,  this  Agreement  must be  properly  completed,
executed and the purchase  price  delivered to American Stock Transfer and Trust
Company,  59 Maiden Lane, New York, New York 10038,  Attention:  Henry Reinhold,
accompanied  by a check payable to "American  Stock  Transfer and Trust Company,
Escrow Agent for Mediavest,  Inc." (the "Escrow Agent"). A Purchaser desiring to
deliver the purchase price for the Units in the form of wire transfer shall wire
to the Escrow Agent at: JP Morgan  Chase,  55 Water Street,  New York,  New York
10041, ABA# 021 000 021, Account #323-836909,  Attention: Henry Reinhold. If the
purchase  price is paid by wire  transfer,  the Purchaser  shall (i) include the
Purchaser's  name in the wire transfer  instructions;  and (ii) request from the
bank or other financial institution that is originating the transfer the federal
wire number with respect to the and retain that number for future reference.

<PAGE>

            1.3 Use of Proceeds. The Company will use the proceeds from the sale
of the Units for working capital and general corporate purposes.

      2. The Closing. The initial closing shall occur on the sale by the Company
of at least the Minimum Amount and under this Agreement shall take place at such
time and place as the Company may designate (the "Initial Closing," and the date
on which the Initial Closing occurs, the "Initial Closing Date").  Following the
Initial  Closing  Date,  and up to  October  31,  2006,  the  Company  may  hold
additional closings (each, with the Initial Closing, a "Closing",  and each such
date,  with the Initial Closing Date, a "Closing Date") at such places and times
as  designated  by the Company until the earlier of (i) such time as the Company
has  sold up to the  Maximum  Amount  or (ii)  October  31,  2006.  There  is no
assurance that either the Minimum Amount or the Maximum Amount will be sold.

            Promptly following the applicable Closing, the Company shall deliver
to each of the Purchasers a certificate for the number of shares of Common Stock
and  warrant  agreements  for  the  number  Warrants  being  purchased  by  such
Purchaser,  registered  in the name of such  Purchaser,  against  payment to the
Company of the purchase price  therefor by check or wire transfer,  as specified
in Exhibit A

      The  Purchaser  hereby  authorizes  and directs the Company to deliver the
Securities to be issued to the Purchaser  pursuant to this Agreement directly to
the residential or business address indicated on the signature page hereto.

      3.  Representations  of the Purchasers.  Each of the Purchasers  severally
represents and warrants to the Company as follows:

            (a)  The  Purchaser   has  received  and  carefully   reviewed  such
information  and  documentation  relating to the Company that the  Purchaser has
requested,  including without limitation,  the Company's filings with the United
States Securities and Exchange Commission (the "Commission").

            (b) The Purchaser has had a reasonable  opportunity to ask questions
of and receive answers from the Company concerning the Company and the Offering,
and all such questions,  if any, have been answered to the full  satisfaction of
the Purchaser.

            (c) The Purchaser  understands  that the Company has determined that
the exemption from the registration provisions of the Securities Act provided by
Regulation D is applicable to the offer and sale of the  Securities,  based,  in
part, upon the representations,  warranties and agreements made by the Purchaser
herein.

            (d) Except as set forth  herein,  no  representations  or warranties
have been  made to the  Purchaser  by the  Company  or any  agent,  employee  or
affiliate of the Company and in entering into this transaction, the Purchaser is
not  relying  upon  any  information  other  than  the  results  of  independent
investigation by the Purchaser.

                                      -2-
<PAGE>

            (e) The  Purchaser  has full  power and  authority  to  execute  and
deliver this Agreement and to perform the obligations of the Purchaser hereunder
and  this  Agreement  is a  legally  binding  obligation  of  the  Purchaser  in
accordance with its terms.

            (f) Regulation D.

                  (i) The Purchaser  understands and acknowledges  that: (A) the
Securities  acquired  pursuant to this Agreement have not been registered  under
the  Securities  Act and are  being  sold in  reliance  upon an  exemption  from
registration  afforded by Regulation D; and that such  Securities  have not been
registered with any state  securities  commission or authority;  (B) pursuant to
the requirements of Regulation D, the Securities may not be transferred, sold or
otherwise  exchanged  unless in compliance  with the  provisions of Regulation D
and/or  pursuant to  registration  under the  Securities  Act, or pursuant to an
available exemption  thereunder;  and (C) other than as set forth in Section 5.1
of this Agreement, the Company is under no obligation to register the Securities
under the Securities Act or any state  securities  law, or to take any action to
make any exemption from any such registration provisions available.

                  (ii)  The  Purchaser  is an  accredited  investor  within  the
meaning  of Rule  501 of  Regulation  D,  is  knowledgeable,  sophisticated  and
experienced  in making,  and is  qualified  to make,  decisions  with respect to
investment shares  representing an investment decision like that involved in the
purchase of the Securities.

                  (iii) The Purchaser is purchasing  the Securities for his, her
or its own  account  for  investment  only and has no  intention  of  selling or
distributing  the  Securities  and  no  other  person  has  any  interest  in or
participation in the Securities or any right, option, security interest,  pledge
or other  interest in or to the  Securities.  The Purchaser  recognizes  that an
investment in the Securities involves a high degree of risk, including a risk of
total loss of the Purchaser. The Purchaser understands,  acknowledges and agrees
that it must bear the economic risk of its  investment in the  Securities for an
indefinite  period of time and has  knowledge  and  experience  in financial and
business  matters  such  that it is  capable  of  evaluating  the  risks  of the
investment in the Securities  and the Purchaser  understands,  acknowledges  and
agrees that prior to any such offer or sale, the Company may require, subject to
the fulfillment of the Company's  obligations under Section 6 of this Agreement,
as a condition to effecting a transfer of the Securities, an opinion of counsel,
acceptable to the Company,  as to the registration or exemption  therefrom under
the Securities Act and any state securities acts, if applicable.

                  (iv) The Purchaser  acknowledges that the Securities will bear
a legend in substantially the following form:

                  THE   SECURITIES   REPRESENTED   BY  THIS   CERTIFICATE   (THE
                  "SECURITIES")  HAVE NOT BEEN  REGISTERED  UNDER THE SECURITIES
                  ACT OF 1933,  AS AMENDED (THE  "SECURITIES  ACT") OR ANY STATE
                  SECURITIES LAWS AND MAY NOT BE SOLD,  TRANSFERRED OR OTHERWISE
                  DISPOSED OF UNLESS  REGISTERED  UNDER THE  SECURITIES  ACT AND
                  UNDER  APPLICABLE  STATE  SECURITIES  LAWS  OR TNX  TELEVISION
                  HOLDINGS,  INC.  SHALL HAVE RECEIVED AN OPINION OF ITS COUNSEL
                  THAT  REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT
                  AND UNDER THE PROVISIONS OF APPLICABLE  STATE  SECURITIES LAWS
                  IS NOT REQUIRED.

                                      -3-
<PAGE>

            (g) Neither the Purchaser, nor any affiliate of the Purchaser or any
person  acting  on  his,  her  or  its  behalf,  has  recently  sold  shares  of
unregistered Common Stock of the Company.

      4.  Condition to the  Obligations of the Company.  The  obligations of the
Company under Section 1.2 of this Agreement are subject to  fulfillment,  or the
waiver, of the following condition on or before the Closing:

            4.1 Accuracy of Representations and Warranties.  The representations
and warranties of the Purchasers  contained in Section 3 shall be true on and as
of the  Closing  Date with the same effect as though  such  representations  and
warranties had been made on and as of that date (except that any  representation
or warranty  expressly  stated to have been made or given as of a specific  date
need be true only as of such date).

      5. Covenants of the Company.

            5.1 Piggyback  Registration Rights. If at any time the Company shall
determine to register under the Securities Act any of its securities (other than
on Form S-8 or Form S-4 or their then  equivalents  and other than  shares to be
issued solely (i) in connection  with any  acquisition of any entity or business
(ii) upon the exercise of stock options,  or (iii) pursuant to employee  benefit
plans),  it shall send to each holder of Registrable  Shares (as defined below),
including each holder who has the right to acquire Registrable  Shares,  written
notice of such  determination  and, if within  thirty (30) days after receipt of
such notice, such holder shall so request in writing,  the Company shall use its
commercially reasonable efforts to include in such registration statement all or
any  part of the  Registrable  Shares  such  holder  requests  to be  registered
therein;  provided  that,  if, in  connection  with any  offering  involving  an
underwriting  of  Common  Stock  to be  issued  by  the  Company,  the  managing
underwriter  shall  prohibit the  inclusion of shares of Common Stock by selling
holders in such  registration  statement  or shall  impose a  limitation  on the
number  of  shares  of such  Common  Stock  which  may be  included  in any such
registration statement because, in its judgment, such limitation is necessary to
effect an orderly public  distribution,  and such limitation is imposed pro rata
with respect to all  securities  whose  holders have a  contractual,  incidental
("piggyback") right to include such securities in the registration statement and
as to which  inclusion  has been  requested  pursuant to such right and there is
first  excluded  from such  registration  statement  all shares of Common  Stock
sought to be  included  therein  by (i) any holder  thereof  not having any such
contractual,  incidental registration rights, and (ii) any holder thereof having
contractual, incidental registration rights subordinate and junior to the rights
of the holders of  Registrable  Shares,  the Company  shall then be obligated to
include in such  registration  statement only such limited portion (which may be
none) of the Registrable  Shares with respect to which such holder has requested
inclusion  hereunder.  "Registrable  Shares"  means the  shares of Common  Stock
included in the Units and the shares of Common  Stock  underlying  the  Warrants
included in the Units;  provided,  however,  that  shares of Common  Stock shall
cease to be  Registrable  Shares upon any sale of such shares  pursuant to (i) a
registration  statement  filed  under  the  Securities  Act,  or (ii)  Rule  144
promulgated under the Securities Act.

                                      -4-
<PAGE>

            5.2  Reservation  of Common  Stock.  The Company  shall  reserve and
maintain  a  sufficient  number  of shares of  Common  Stock for  issuance  upon
exercise of all of the outstanding Securities.

      6.  Transfer of  Securities.  The Purchaser is aware that the Company will
make  a  notation  in  its   appropriate   records  and  issue  "stop  transfer"
instructions  to its  transfer  agent with  respect to the  restrictions  on the
transferability of such Securities.

            (a) The Purchaser  understands that this subscription is not binding
upon the Company until the Company  accepts it, which  acceptance is at the sole
discretion of the Company and is to be evidenced by the  Company's  execution of
this Agreement  where  indicated.  This Agreement  shall be null and void if the
Company  does not  accept it as  aforesaid.  In the event the  Company  does not
accept  the  Offering  proceeds,  the  Offering  will not be  completed  and all
Offering proceeds will thereafter be promptly returned to the Purchasers without
interest or deduction.  The undersigned understands that the Company may, in its
sole discretion,  reject this  subscription,  in whole or in part, and/or reduce
this  subscription  in any  amount  and to any  extent,  whether or not pro rata
reductions are made of any other investor's subscription.

            (b) Subject to applicable  state  securities  laws, the subscription
delivered  to the Company by the  Purchaser  pursuant to this  Agreement  is not
subject to revocation by the Purchaser,  but may be rejected by the Company,  in
whole or in part, in the Company's sole discretion,  in which event the purchase
price and execution copy of this Agreement  submitted will be returned (by mail)
to the  undersigned  without  interest  or  deduction  within 15  business  days
thereafter.

      7. Forward Split. The Purchaser is aware that the Company intends to split
(or dividend) shares of its Common Stock on a two and a half-for-one  basis (the
"Stock  Split") on or about August 17, 2006 (the  "Effective  Date").  Since the
Closing is anticipated to take place after the Effective Date, the Purchasers in
the Offering will not benefit from the Stock Split.  The Purchaser is aware that
all purchases made pursuant to this  Agreement  reflect  post-Stock  Split share
numbers and that the per share purchase price and the number of shares purchased
will be reflected on a post-Stock Split basis at Closing. Thus, whereas, without
giving effect to the Stock Split, each $1.00 paid by a Purchaser in the Offering
would have  purchased a unit  consisting  of (i) two and a half shares of Common
Stock,  and (ii) a warrant to purchase two and a half shares of Common Stock, at
an exercise  price of $2.00 per share,  after giving  effect to the Stock Split,
each $1.00 paid by a Purchaser in the Offering will  purchase a unit  consisting
of (i) one share of Common  Stock,  and (ii) a warrant to purchase  one share of
Common Stock, at an exercise price of $2.00 per share.

      8. The Shares are  subject to  standard  anti-dilution  provisions  in the
event of forward or reverse stock splits or  recapitalizations.  For example, if
the Company  engages in a two for one reverse  stock split,  a holder of 100,000
Shares will be affected as follows:

                    Pre-Split Ownership:

                          100,000 Shares

                   Post-Split Ownership:

                           50,000 Shares

                                      -5-
<PAGE>

      9. Broker's  Fees.  The  Purchaser is aware that,  in connection  with the
Offering,  the Company may pay a broker's fee or fees  totaling up to 10% of the
gross proceeds received by the Company from the Offering.

      10. Miscellaneous.

            10.1  Successors  and  Assigns.  This  Agreement  and any rights and
obligations  hereunder  may not be  transferred  or  assigned  by the  Purchaser
without the prior written consent of the Company.  This Agreement shall inure to
the benefit of, and be binding  upon the  Company  and the  Purchaser  and their
respective heirs, legal representatives and permitted assigns.

            10.2 Survival. All representations and warranties and all covenants,
agreements  and  obligations  made  by the  Company  or the  Purchasers  in this
Agreement,  or in any instrument or document  furnished in connection  with this
Agreement or the transactions contemplated hereby, shall survive the Closing and
any investigation at any time made by or on behalf of any indemnified party.

            10.3. Indemnification. The Purchaser agrees to indemnify the Company
and hold it harmless from and against any and all losses, damages,  liabilities,
costs and expenses  which it may sustain or incur in connection  with the breach
by the  Purchaser  of any  representation,  warranty  or  covenant  made  by the
Purchaser .

            10.4 Notices. All notices or other communications hereunder shall be
in writing and shall be deemed to have been duly given if  delivered  personally
or mailed by certified or registered  mail,  return receipt  requested,  postage
prepaid, as follows:

                  (a) If to the Company, to Mediavest, Inc., c/o Trinad Capital,
2121 Avenue of the Stars, Suite 1650, Los Angeles,  CA 90067,  Attention:  Chief
Executive  Officer or to such other  address as the  Company or the  undersigned
shall have designated to the other by like notice.

                  (b) If to a Purchaser, at his, her or its address set forth on
Exhibit A, or at such other  address or addresses as may have been  furnished to
the Company in writing by such Purchaser.

            10.5 Entire  Agreement.  This  Agreement and the Warrant  embody the
entire  agreement and  understanding  between the parties hereto with respect to
the subject matter hereof and supersede all prior agreements and  understandings
relating to such subject matter.

            10.6 Amendments and Waivers. Except as otherwise expressly set forth
in this Agreement,  any term of this Agreement may be amended and the observance
of any term of this Agreement may be waived (either generally or in a particular
instance and either  retroactively or prospectively) with the written consent of
the Company and the majority of the  Purchasers.  No waivers of or exceptions to
any  term,  condition  or  provision  of  this  Agreement,  in any  one or  more
instances,  shall be deemed  to be, or  construed  as, a further  or  continuing
waiver of any such term, condition or provision.

                                      -6-
<PAGE>

            10.7  Counterparts.  This  Agreement  may be executed in one or more
counterparts,  each of which shall be deemed to be an original, but all of which
shall be one and the same document.

            10.8 Section Headings.  The section headings are for the convenience
of the parties  and in no way alter,  modify,  amend,  limit,  or  restrict  the
contractual obligations of the parties.

            10.9  Severability.   The  invalidity  or  unenforceability  of  any
provision of this Agreement shall not affect the validity or  enforceability  of
any other provision of this Agreement.

            10.10  Governing  Law.  This  Agreement  shall  be  governed  by and
construed in accordance with the laws of the State of New York.

                           [signature page to follow]

                                      -7-
<PAGE>

SIGNATURE PAGE                            Date Signed: _________ , 2006
---------------------------

Number of Units:                          -----------

Multiplied by Offering Price Per Unit:    x     $1.00
                                             ----------

Equals Amount:                            =  $
                                             -------------

---------------------------               --------------------------
Signature                                 Second Signature
                                          (if purchasing jointly)

---------------------------               --------------------------
Printed Name                              Printed Second Name

---------------------------               --------------------------
Entity Name                               Entity Name

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

---------------------------               --------------------------
City, State and Zip Code                  City, State and Zip Code

---------------------------               --------------------------
Telephone-Business                        Telephone-Business

---------------------------               --------------------------
Facsimile-Business                        Facsimile-Business

---------------------------               --------------------------
Tax ID # or Social Security #             Tax ID # or Social Security #

Name in which securities should be issued:
                                          --------------------------------------

<PAGE>

================================================================================

This Agreement is agreed to and accepted as of ________ , 2006.

                                        MEDIAVEST, INC.

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

<PAGE>

                                    EXHIBIT A
                               List of Purchasers

   Name and Address              No. of Units                    Aggregate
     of Purchaser                                             Purchase Price

                                                              $
                                                              $
                                                              $
                                                              $
                                                              $
                                                              $
                                                              $
                                                              $
                                                              $

TOTALS:                                                       $
-------

<PAGE>

                                    EXHIBIT B

                                     WarrantSERIES A CONVERTIBLE PREFERRED STOCK PURCHASE AGREEMENT

      THIS  SERIES  A  CONVERTIBLE  PREFERRED  STOCK  PURCHASE  AGREEMENT  (this
"Agreement") is made and entered into as of October 12, 2006, between Mediavest,
Inc, a  corporation  organized  and existing  under the laws of the State of New
Jersey (the "Company") and Trinad Management, LLC (the "Purchaser").

      WHEREAS,  subject to the terms and conditions set forth in this Agreement,
the Company desires to issue and sell to the Purchaser and the Purchaser desires
to acquire from the Company 100,000 shares of the Company's Series A Convertible
Preferred  Stock,  $.0001 par value per share (the "Series A Preferred  Stock"),
with a Stated Value of one dollar ($1) per share,  and an aggregate Stated Value
of one hundred thousand dollars  ($100,000),  for an aggregate purchase price of
one hundred thousand dollars ($100,000).

      IN CONSIDERATION of the mutual covenants contained in this Agreement,  the
Company and each Purchaser agree as follows:

                                   ARTICLE I
                               CERTAIN DEFINITIONS

      1.1 Certain Definitions. As used in this Agreement, and unless the context
requires a different meaning, the following terms have the meanings indicated:

      "Affiliate" means, with respect to any Person,  any Person that,  directly
or indirectly,  controls,  is controlled by or is under common control with such
Person.  For  the  purposes  of  this  definition,  "control"  (including,  with
correlative meanings, the terms "controlled by" and "under common control with")
shall mean the  possession,  directly or  indirectly,  of the power to direct or
cause the  direction of the  management  and  policies of such  Person,  whether
through the ownership of voting securities or by contract or otherwise.

      "Agreement" shall have the meaning set forth in the introductory paragraph
of this Agreement.

      "Certificate  of  Designation"   means  the  Certificate  of  Designation,
Preferences  and Rights of Series A Convertible  Preferred  Stock of the Company
annexed as Exhibit A hereto.

      "Closing" shall have the meaning set forth in Section 2.2.

      "Closing Date" shall have the meaning set forth in Section 2.2.

      "Common  Stock" means shares now or hereafter  authorized  of the class of
common stock, $.0001 par value, of the Company and stock of any other class into
which such shares may hereafter have been reclassified or changed.

      "Company" shall have the meaning set forth in the introductory paragraph.

<PAGE>

      "Execution Date" means the date of this Agreement first written above.

      "Person"  means  an  individual  or  a  corporation,  partnership,  trust,
incorporated or  unincorporated  association,  joint venture,  limited liability
company, joint stock company,  government (or an agency or political subdivision
thereof) or other entity of any kind.

      "Purchase Price" shall have the meaning set forth in Section 2.1(b).

      "Purchaser"   shall  have  the  meaning  set  forth  in  the  introductory
paragraph.

      "Securities Act" means the Securities Act of 1933, as amended.

      "Series  A  Preferred  Stock"  shall  have the  meaning  set  forth in the
recital.

      "Shares" shall have the meaning set forth in Section 2.1(a).

      "Stated  Value"  means the sum of one dollar ($1) per Share or one hundred
thousand dollars ($100,000) for all of the Shares.

      "Transaction   Documents"  means  this  Agreement  and  all  exhibits  and
schedules  hereto and all other  documents,  instruments  and writings  required
pursuant  to this  Agreement.

                                   ARTICLE II
               PURCHASE AND SALE OF CONVERTIBLE PREFERRED SHARES

      2.1 Purchase and Sale; Purchase Price.

            (a)  Subject  to the terms and  conditions  set  forth  herein,  the
Company shall issue and sell and the Purchaser shall purchase  100,000 shares of
the Company's  Series A Preferred Stock (the  "Shares").  The Series A Preferred
Stock shall have the respective rights,  preferences and privileges as set forth
in the  Certificate of Designation to be filed by the Company with the Secretary
of State of New Jersey on or before the Execution Date.

            (b) The purchase  price for each Share shall be One Dollar ($1) (the
"Per Share Consideration"). The Per Share Consideration multiplied by the number
of Shares to be  purchased  by the  Purchaser  is referred  to as the  "Purchase
Price."

                                      -2-
<PAGE>

      2.2 The  Closing.  The Closing of the purchase and sale of the Shares (the
"Closing")  shall take place  simultaneously  with the execution and delivery of
this Agreement (the "Closing Date"). At any time and from time to time after the
Closing,  the  Parties  shall duly  execute,  acknowledge  and  deliver all such
further assignments, conveyances, instruments and documents, and shall take such
other  action  consistent  with the  terms of this  Agreement  to carry  out the
transactions contemplated by this Agreement.

                                  ARTICLE III
                         REPRESENTATIONS AND WARRANTIES

      3.1 Representations, Warranties and Agreements of the Company. The Company
hereby makes the following  representations and warranties to the Purchaser, all
of which shall survive the Closing:

            (a)  Organization and  Qualification.  The Company is a corporation,
duly  incorporated,  validly existing and in good standing under the laws of the
State of New Jersey, with the requisite corporate power and authority to own and
use its  properties  and  assets  and to  carry  on its  business  as  currently
conducted.

            (b)  Authorization,  Enforcement.  The  Company  has  the  requisite
corporate  power and authority to enter into and to consummate the  transactions
contemplated  hereby and by each other Transaction  Document and to otherwise to
carry out its obligations  hereunder and thereunder.  The execution and delivery
of this Agreement and each of the other Transaction Documents by the Company and
the consummation by it of the transactions  contemplated  hereby and thereby has
been duly authorized by all necessary action on the part of the Company. Each of
this Agreement and each of the other  Transaction  Documents has been or will be
duly  executed by the Company and when  delivered in  accordance  with the terms
hereof or  thereof  will  constitute  the valid and  binding  obligation  of the
Company  enforceable against the Company in accordance with its terms, except as
such  enforceability  may  be  limited  by  applicable  bankruptcy,  insolvency,
reorganization,   moratorium,  liquidation  or  similar  laws  relating  to,  or
affecting  generally the  enforcement of,  creditors'  rights and remedies or by
other equitable principles of general application.

            (c)  Issuance of  Securities.  The Shares have been duly and validly
authorized  for issuance,  offer and sale pursuant to this  Agreement  and, when
issued and delivered as provided  hereunder  against  payment in accordance with
the  terms  hereof,  shall be  valid  and  binding  obligations  of the  Company
enforceable in accordance with their respective terms. When issued in accordance
with the terms hereof, the Shares will be duly authorized, validly issued, fully
paid and non-assessable.

      3.2 Representations and Warranties of the Purchaser.  The Purchaser hereby
represents and warrants to the Company as follows:

            (a) Authority.  The Purchaser has the requisite  power and authority
to enter into and to consummate the transactions  contemplated hereby and by the
other Transaction Documents and otherwise to carry out its obligations hereunder
and  thereunder.  The acquisition of the Shares to be purchased by the Purchaser
hereunder has been duly  authorized  by all necessary  action on the part of the
Purchaser.  This Agreement has been duly executed and delivered by the Purchaser
and  constitutes  the valid and legally  binding  obligation  of the  Purchaser,
enforceable   against  it  in  accordance   with  its  terms,   except  as  such
enforceability   may  be   limited   by   applicable   bankruptcy,   insolvency,
reorganization,  moratorium or similar laws relating to, or affecting  generally
the enforcement of, creditors rights and remedies or by other general principles
of equity.

                                      -3-
<PAGE>

            (b) Investment  Intent.  The Purchaser is acquiring the Shares to be
purchased by it  hereunder,  and will acquire the Shares for its own account for
investment purposes only and not with a view to or for distributing or reselling
such  Shares,  or any part  thereof  or  interest  therein,  without  prejudice,
however, to such Purchaser's right, subject to the provisions of this Agreement,
at all times to sell or  otherwise  dispose of all or any part of such Shares in
compliance with applicable federal and state securities laws.

            (c) Experience of Purchaser. The Purchaser, either alone or together
with its representatives,  has such knowledge,  sophistication and experience in
business and financial  matters so as to be capable of evaluating the merits and
risks of an investment in the Shares to be acquired by it hereunder,  and has so
evaluated the merits and risks of such investment.

            (d) Ability of Purchaser to Bear Risk of Investment. The Purchaser
is able to bear the economic risk of an investment in the Shares to be acquired
by it hereunder and, at the present time, is able to afford a complete loss of
such investment.

            (e) Access to Information.  The Purchaser  acknowledges  that it has
been  afforded  (i) the  opportunity  to ask  such  questions  as it has  deemed
necessary  of, and to  receive  answers  from,  representatives  of the  Company
concerning  the terms and  conditions  of the Shares  offered  hereunder and the
merits and risks of investing  in such  securities;  (ii) access to  information
about the Company and the Company's financial condition,  results of operations,
business,  properties,  management  and  prospects  sufficient  to  enable it to
evaluate its investment in the Shares;  and (iii) the opportunity to obtain such
additional  information  which the  Company  possesses  or can  acquire  without
unreasonable  effort or expense that is necessary to make an informed investment
decision  with  respect  to  the  investment  and to  verify  the  accuracy  and
completeness of the information that it has received about the Company.

            (f) Reliance.  The Purchaser  understands and acknowledges  that (i)
the Shares are being offered and sold to it hereunder are being offered and sold
without  registration  under the Securities  Act in a private  placement that is
exempt from the registration provisions of the Securities Act under Section 4(2)
of the Securities  Act and (ii) the  availability  of such exemption  depends in
part on, and that the Company will rely upon the accuracy and  truthfulness  of,
the  foregoing  representations  and  such  Purchaser  hereby  consents  to such
reliance.

                                   ARTICLE IV
                         OTHER AGREEMENTS OF THE PARTIES

      4.1 Manner of Offering.  The Shares are being  issued  pursuant to section
4(2) of the Securities Act.

                                      -4-
<PAGE>

      4.2 Blue Sky Laws.  The Company  shall  cooperate  with the  Purchaser  in
connection  with  the  exemption  from  registration  of the  Shares  under  the
securities or Blue Sky laws of such  jurisdictions as the Purchaser may request;
provided,  however,  that  the  Company  shall  not be  required  in  connection
therewith  to  qualify  as a  foreign  corporation  where  they  are  not now so
qualified.  The Company agrees that it will execute all necessary  documents and
pay all necessary  state filing or notice fees to enable the Company to sell the
Shares to the Purchaser.

      4.3  Integration.  The Company shall not and shall use its best efforts to
ensure that no Affiliate shall sell,  offer for sale or solicit offers to buy or
otherwise  negotiate  in respect of any security (as defined in Section 2 of the
Securities Act) that would be integrated with the offer or sale of the Shares in
a manner that would require the  registration  under the  Securities  Act of the
sale of the Shares to the Purchaser.

                                   ARTICLE V
                                  MISCELLANEOUS

      5.1 Entire  Agreement.  This Agreement,  together with all of the Exhibits
and Schedules annexed hereto,  and any other  Transaction  Document contains the
entire  understanding  of the parties with respect to the subject  matter hereof
and supersede all prior  agreements and  understandings,  oral or written,  with
respect to such matters.

      5.2 Amendments;  Waivers.  No provision of this Agreement may be waived or
amended except in a written instrument  signed, in the case of an amendment,  by
both the Company and the  Purchaser,  or, in the case of a waiver,  by the party
against whom enforcement of any such waiver is sought.  No waiver of any default
with respect to any provision,  condition or requirement of this Agreement shall
be  deemed  to be a  continuing  waiver  in the  future or a waiver of any other
provision,  condition or requirement  hereof, nor shall any delay or omission of
either party to exercise any right  hereunder in any manner  impair the exercise
of any such right accruing to it thereafter.

      5.3  Headings.  The  headings  herein  are for  convenience  only,  do not
constitute a part of this  Agreement  and shall not be deemed to limit or affect
any of the provisions hereof.

      5.4 Successors and Assigns. This Agreement shall be binding upon and inure
to the benefit of the  parties and their  respective  successors  and  permitted
assigns.  The  assignment by a party of this  Agreement or any rights  hereunder
shall not affect the obligations of such party under this Agreement.

      5.5 No Third Party  Beneficiaries.  This  Agreement  is  intended  for the
benefit of the parties  hereto and their  respective  permitted  successors  and
assigns and is not for the benefit of, nor may any provision  hereof be enforced
by, any other person.

      5.6 Governing Law. The parties hereto  acknowledge  that the  transactions
contemplated  by  this  Agreement  and the  exhibits  hereto  bear a  reasonable
relation to the State of New York.  The parties  hereto  agree that the internal
laws of the State of New York  shall  govern  this  Agreement  and the  exhibits
hereto.

                                      -5-
<PAGE>

      5.7 Counterpart Signatures.  This Agreement may be executed in two or more
counterparts,  all of which when taken  together shall be considered one and the
same agreement and shall become effective when  counterparts have been signed by
each party and  delivered  to the other  party,  it being  understood  that both
parties need not sign the same  counterpart.  In the event that any signature is
delivered by facsimile  transmission,  such  signature  shall create a valid and
binding  obligation of the party executing (or on whose behalf such signature is
executed) the same with the same force and effect as if such facsimile signature
page were an original thereof.

      5.8  Severability.  In case  any one or  more  of the  provisions  of this
Agreement  shall be invalid or  unenforceable  in any respect,  the validity and
enforceability of the remaining terms and provisions of this Agreement shall not
in any way be affected or impaired thereby and the parties will attempt to agree
upon a valid and enforceable  provision  which shall be a reasonable  substitute
therefore,  and upon so agreeing, shall incorporate such substitute provision in
this Agreement.

                           [ SIGNATURE PAGE FOLLOWS ]

<PAGE>

      IN WITNESS  WHEREOF,  the parties  hereto have caused this Agreement to be
duly executed as of the date first indicated above.

                                        Company:

                                        MEDIAVEST, INC.

                                        By:
                                           -------------------------
                                           Name:  Robert Ellin
                                           Title: Chairman and Chief
                                                  Executive Officer

                                        Purchaser:

                                        TRINAD MANAGEMENT, LLC

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

<PAGE>

                                    EXHIBIT A

                           Certificate of Designation

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