m— rico November 15, 2016 By Email and Federal Express Dan Abrams Abrams Media Network Suite 508 1261 Broadway New York, NY 10001, Re: HIGH PRIORITY: Nikki Finke Dear Mr. Abrams: | am writing on behalf of Penske Media Corporation ("PMC"). We read your post yesterday regarding Nikki Finke’s new role as Senior Columnist with Mediaite, As noted in your announcement, Ms. Finke is bound by a non-compete with PMC which prohibits her from engaging in any “entertainment industry coverage or reporting.” This restriction is intentionally broad as it was meant to cover a very wide range of potential subjects involving the entertainment industry ranging from personalities, to business news and legal developments and beyond. Given Mediaite's mandate--to cover topics ranging “from TV greenrooms to the corridors of the senate” —it is particularly important that you are aware of the scope of Ms. Finke’s obligations at the outset of her engagement by you and aware of the potential for overlap. Thisis particularly the case as the country has just elected a reality television star asits President-elect. The intersection between entertainment and politics has never been more porous. And to be clear: we view coverage of media as entertainment reporting. It is impossible in the current environment to separate these two businesses, as evidenced by companies such as Time Warner Inc. (a self-described “global leader in media and entertainment”), NBC Universal (“one of the world’s leading. media and entertainment companies") and the like, You are hereby on notice that we will hold both Ms. Finke and the Abrams Media Network accountable for her compliance with the strict terms of her agreement. We will aggressively pursue all damages available in the event of a violation, including claims for intentional interference with contract under applicable law. In the event of a breach, we will take immediate action to enforce our rights and pursue all remedies available against both parties. Please govern yourself accordingly.Dan Abrams November 15, 2016 Page 2 of 2 Nothing contained herein is intended as, nor shall it be deemed to constitute, a waiver of any rights or remedies at law or equity which PMC may have with regard to your actions, all of which are expressly reserved. Sincerely, Le toe Deputy General Counsel Cc: Jay Penske Nikki Finke