Dated as of September 27, 2007
This THIRD AMENDMENT (this “ Amendment ”) is entered into by and between CKX, INC., a
Delaware corporation (the “ Borrower ”), and BEAR STEARNS CORPORATE LENDING INC. , as
administrative agent (in such capacity the “ Administrative Agent ”).
1. Reference is made to the Credit Agreement, dated as of May 24, 2006 (as amended by the First
Amendment and Waiver, dated as of February 20, 2007, and the Second Amendment, dated as of June 1,
2007, and as further amended, restated, supplemented or otherwise modified from time to time, the “ Credit
Agreement ”), among the Borrower, the Lenders party thereto, Bear, Stearns & Co. Inc., as exclusive advisor,
sole lead arranger and sole bookrunner, UBS Securities LLC and The Bank of New York, as co-syndication
agents, Lehman Commercial Paper, Inc. and Credit Suisse, as co-documentation agents, and the Administrative
Agent. Capitalized terms used but not otherwise defined herein are used with the meanings given in the Credit
2. The Borrower has requested that the Credit Agreement be amended as herein set forth.
3. The Required Lenders are willing to consent to the amendment and waiver request described above on the
terms and subject to the conditions set forth below.
NOW, THEREFORE , in consideration of the premises and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION 1. Amendment to Credit Agreement.
(a) Section 1.1 of the Credit Agreement is hereby amended by adding the following definitions in appropriate
““ FXRE ”: means FX Real Estate and Entertainment, Inc., a Delaware corporation.”
““ FXRE Exchange ”: the exchange by the Borrower of its ownership interest in the Capital Stock of FXLR in
exchange for corresponding shares of Capital Stock (representing equ