Exhibit 10.8

BLOCKED ACCOUNT CONTROL AGREEMENT

(“Shifting Control”)

AGREEMENT dated as of May 29, 2009, by and among Mediabistro.com, Inc. (“Company”), ALAN M. MECKLER (“Secured Party”) and Depositary Bank (“Depositary”).

The parties hereto refer to Account No. XXXX in the name of Company maintained at Depositary (the “Account”) and hereby agree as follows:

1. Company and Secured Party notify Depositary that by separate agreement Company has granted Secured Party a security interest in the Account and all funds on deposit from time to time therein. Depositary acknowledges being so notified.

2. Company, Secured Party and Depositary agree that the Depositary will comply with instructions originated by the Secured Party directing disposition of the funds in the Account without further consent by the Company. Notwithstanding the foregoing, prior to the Effective Time (as defined below) Depositary shall honor all withdrawal, payment, transfer or other fund disposition or other instructions which the Company is entitled to give under the Account Documentation (as hereinafter defined) (collectively, “instructions”) received from the Company concerning the Account. On and after the Effective Time (and without Company’s consent), Depositary shall honor all instructions received from Secured Party (but not those from Company) concerning the Account and Company shall have no right or ability to access or withdraw or transfer funds from the Account.

For the purposes hereof, the “Effective Time” shall be the opening of business on the second business day next succeeding the business day on which a notice purporting to be signed by Secured Party in substantially the same form as Exhibit A , attached hereto, with a copy of this Agreement attached thereto (a “ Shifting Control Notice ”), is actually received by the individual employee of Depositary to whom the notice is required hereunder to be addressed; provided, however, that if any such notice is so received after 12:00 noon, New York City time, on any business day, the “ Effective Time ” shall be the opening of business on the third business day next succeeding the business day on which such receipt occurs; and, provided further, that a “ business day ” is any day other than a Saturday, Sunday or other day on which Depositary is or is authorized or required by law to be closed.

Notwithstanding the foregoing: (i) all transactions involving or resulting in a transaction involving the Account duly commenced by Depositary or any affiliate prior to the Effective Time and so consummated or processed thereafter shall be deemed not to constitute a violation of this Agreement; and (ii) Depositary and/or any affiliate may (at its discretion and without any obligation to do so) (x) cease honoring Company’s instructions and/or commence honoring solely Secured Party’s instructions concerning the Account at any time or from time to time after it becomes aware that Secured Party has sent to it a Shifting Control Notice but prior to the Effective Time therefor (including without limitation halting, reversing or redirecting any transaction referred to in clause (i) above), or (y) deem a Shifting Control Notice to be received by it for purposes of the foregoing paragraph prior to the specified individual’s actual receipt if otherwise actually received by Depositary (or if such Shifting Control Notice contains minor mistakes or other irregularities but otherwise substantially complies with the form attached hereto as Exhibit A or does not attach an appropriate copy of this Agreement), with no liability whatsoever to Company or any other party for doing so.

3. This Agreement supplements, rather than replaces, Depositary’s deposit account agreement, terms and conditions and other