<PAGE>

                                                                    EXHIBIT 99.4

THIS PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT RELATES TO AN OFFERING OF
SECURITIES IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS
DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT
OF 1933, AS AMENDED (THE "1933 ACT").

NONE OF THE SECURITIES TO WHICH THIS PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT
(THE "SUBSCRIPTION AGREEMENT") RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT,
OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE
OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS
(AS DEFINED HEREIN) EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S
UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT
SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY
IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

THE SECURITIES TO WHICH THIS SUBSCRIPTION AGREEMENT RELATES ARE SUBJECT TO A
HOLD PERIOD IN ALL OF THE PROVINCES OF CANADA AND MAY NOT BE TRADED IN ANY OF
THE PROVINCES OF CANADA EXCEPT AS PERMITTED BY APPLICABLE SECURITIES
LEGISLATION.


                    PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT
               (Foreign/Overseas Subscribers Resident in Ontario)


TO:               GlobalMedia.com,  (the "Company")
                  400 Robson Street, Vancouver, British Columbia


                               PURCHASE OF SHARES

1.        SUBSCRIPTION

1.1       The undersigned, Standard Radio Inc. (the "Subscriber") hereby
          irrevocably subscribes for and agrees to purchase on the basis of the
          representations and warranties and subject to the terms and conditions
          set forth herein:

          (a)  1,388,888 common shares (the "Shares") in the capital of the
               Company at a price of US$1.80 per Share (the "Offering Price")
               (such subscription and agreement to purchase being the
               "Subscription"), for the total purchase price of US$2,500,000
               (the "Subscription Proceeds"), which is tendered herewith; and

          (b)  one common stock purchase warrant for US$100 (the "Warrant"),
               which is also tendered herewith, said Warrant entitling the
               Subscriber to purchase 277,778 shares of common stock of the
               Company (the "Warrant Shares") at an exercise price per share
               equal to US$2.25 (125% of the Offering Price).

1.2       The Company hereby irrevocably agrees to sell, on the basis of the
          representations and warranties and subject to the terms and conditions
          set forth herein, to the Subscriber the Shares and the Warrant.

1.3       Subject to the terms hereof, the Subscription will be effective upon
          its acceptance by the Company.

2.        SUBSEQUENT FINANCINGS

2.1       The Offering Price will be subject to the adjustment in circumstances
          where Yorkton Securities Inc. facilitates a private placement of
          equity securities of the Company with gross proceeds of a minimum of
          US $7,500,000 (the "Yorkton Financing") on or before December 31, 2000
          at a price per common share less than the Offering Price (the "Yorkton
          Price"), in which case the Company shall issue to the Subscriber that
          number of additional shares as is equal to the difference between (i)
          the number shares determined by dividing US$2,500,000 by the Yorkton
          Price and (ii) 1,388,888; and in such case the exercise price of the
          Warrants will be adjusted to 125% of the Yorkton Price.

<PAGE>

                                      -2-

3.        OTHER CONDITIONS

3.1       Contingent upon, and concurrent with the closing of the Yorkton
          Financing, the Subscriber will invest a further US $2,500,000 in
          securities of the Company at a price per share equal to the lesser of
          the Offering Price or the Yorkton Price (the "Further Investment").

3.2       On or before the Closing Date, and as a condition of closing, Michael
          Metcalfe and the Subscriber shall enter into a subscription agreement
          whereby Michael Metcalfe shall sell to the Subscriber or its nominee
          1,250,000 shares of the Company at a price per share of $0.02 as to
          1,000,000 shares on Closing with such sale to occur contemporaneously
          with the Closing and as to 250,000 shares on closing of the Further
          Investment, with such subscription agreement to be in a form
          satisfactory to the parties and containing the terms customary for
          this type of agreement.

3.3       In consideration of the Subscriber entering into this Subscription
          Agreement, the Company shall waive all fees and expenses otherwise
          payable to it by the Subscriber under the existing co-marketing
          agreement between the parties with respect to the Subscriber's current
          radio stations for a period of 3 years, with such waiver being subject
          to being extended thereafter for such period as the Subscriber
          continues to hold 2% or more of the issued and outstanding shares of
          the Company and such co-marketing agreement shall be deemed to be
          amended effective as at the date of this Subscription Agreement.

4.        PAYMENT

4.1       The Subscription Proceeds must accompany this Subscription and shall
          be paid by wire transfer as per instructions previously provided by
          the Company.

5.        DOCUMENTS REQUIRED FROM SUBSCRIBER

5.1       The Subscriber must complete, sign and return to the Company two (2)
          executed copies of this Subscription Agreement.

5.2       The Subscriber shall complete, sign and return to the Company as soon
          as possible, on request by the Company, any documents, questionnaires,
          notices and undertakings as may be required by regulatory authorities,
          stock exchanges and applicable law in respect of the transactions
          contemplated by this Subscription Agreement.

6.        CLOSING

6.1       Closing of the offering of the Shares (the "Closing") shall occur on
          September 6, 2000, or on such other date as may be agreed to by the
          parties (the "Closing Date").

7.        ACKNOWLEDGEMENTS OF SUBSCRIBER

The Subscriber acknowledges and agrees that:

          (a)  the Shares have not been registered under the 1933 Act, or under
               any state securities or "blue sky" laws of any state of the
               United States, and, unless so registered, may not be offered or
               sold in the United States or, directly or indirectly, to U.S.
               Persons, as that term is defined in Regulation S under the 1933
               Act ("Regulation S"), except in accordance with the provisions of
               Regulation S, pursuant to an effective registration statement
               under the 1933 Act, or pursuant to an exemption from, or in a
               transaction not subject to, the registration requirements of the
               1933 Act;

          (b)  the decision to execute this Subscription Agreement and purchase
               the Shares agreed to be purchased hereunder has not been based
               upon any oral or written representation as to fact or otherwise
               made by or on behalf of the Company and such decision is based
               entirely upon a review of any public information which has been
               filed by the Company with the Securities and Exchange Commission
               ("SEC") in compliance, or intended compliance, with applicable
               securities legislation. If the Company has presented a business
               plan to the Subscriber, the Subscriber acknowledges that the
               business plan may not be achieved or be achievable;

<PAGE>

                                      -3-

          (c)  by execution hereof the Subscriber has waived the need for the
               Company to communicate its acceptance of the purchase of the
               Shares pursuant to this Subscription Agreement provided such
               acceptance occurs before September 6, 2000;

          (d)  the Company is entitled to rely on the representations and
               warranties and the statements and answers of the Subscriber
               contained in this Subscription Agreement, and the Subscriber will
               hold harmless the Company from any loss or damage it or they may
               suffer as a result of the Subscriber's failure to correctly
               complete this Subscription Agreement;

          (e)  it will indemnify and hold harmless the Company and, where
               applicable, its respective directors, officers, employees,
               agents, advisors and shareholders from and against any and all
               loss, liability, claim, damage and expense whatsoever (including,
               but not limited to, any and all fees, costs and expenses
               whatsoever reasonably incurred in investigating, preparing or
               defending against any claim, lawsuit, administrative proceeding
               or investigation whether commenced or threatened) arising out of
               or based upon any representation or warranty of the Subscriber
               contained herein or in any document furnished by the Subscriber
               to the Company in connection herewith being untrue in any
               material respect or any breach or failure by the Subscriber to
               comply with any covenant or agreement made by the Subscriber to
               the Company in connection therewith;

          (f)  it has been advised to consult its own legal, tax and other
               advisors with respect to the merits and risks of an investment in
               the Shares and with respect to applicable resale restrictions and
               it is solely responsible (and the Company is not in any way
               responsible) for compliance with applicable resale restrictions;

          (g)  it is outside the United States when receiving and executing this
               Subscription Agreement and is acquiring the Shares as principal
               for its own account, for investment purposes only, and not with a
               view to, or for, resale, distribution or fractionalization
               thereof, in whole or in part, and no other person has a direct or
               indirect beneficial interest in such Shares;

          (h)  the Shares may not be offered or sold to a U.S. Person or for the
               account or benefit of a U.S. Person (other than a distributor)
               prior to the end of the Restricted Period (as defined herein);

          (i)  neither the SEC nor any other securities commission or similar
               regulatory authority has reviewed or passed on the merits of the
               Shares;

          (j)  the issuance and sale of the Shares to the Subscriber will not be
               completed if it would be unlawful;

          (k)  the statutory and regulatory basis for the exemption claimed for
               the offer and sale of the Shares, although in technical
               compliance with Regulation S, would not be available if the
               offering is part of a plan or scheme to evade the registration
               provisions of the 1933 Act;

          (l)  the Company has advised the Subscriber that the Company is
               relying on an exemption from the requirements to provide the
               Subscriber with a prospectus to sell the Shares and, as a
               consequence of acquiring the Shares pursuant to such exemption,
               certain protections, rights and remedies provided by the
               securities legislation of Ontario, including statutory rights of
               rescission or damages, will not be available to the Subscriber;

          (m)  that the Company is not a reporting issuer in any of the
               Provinces of Canada and therefore resale of any of the Securities
               in Canada is restricted except pursuant to an exemption from
               applicable securities legislation; and

          (n)  this Subscription Agreement is not enforceable by the Subscriber
               unless it has been accepted by the Company.

8.        REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE SUBSCRIBER

8.1       The Subscriber hereby represents and warrants to and covenants with
          the Company (which representations, warranties and covenants shall
          survive the Closing) that:

          (a)  it is not a U.S. Person;

<PAGE>

                                      -4-

          (b)  it is not acquiring the Shares for the account or benefit of,
               directly or indirectly, any U.S. Person;

          (c)  it is acquiring the Shares for investment only and not with a
               view to resale or distribution and, in particular, it has no
               intention to distribute either directly or indirectly any of the
               Shares in the United States or to U.S. Persons;

          (d)  it is outside the United States when receiving and executing this
               Subscription Agreement and is acquiring the Shares as principal
               for its own account, for investment purposes only, and not with a
               view to, or for, resale, distribution or fractionalization
               thereof, in whole or in part, and no other person has a direct or
               indirect beneficial interest in such Shares;

          (e)  the Subscriber is a resident of Ontario and is acquiring the
               Shares as principal pursuant to the exemption from the prospectus
               requirements available under Section 72(1)(d) of the SECURITIES
               ACT (Ontario) (the "Ontario Act") and the Subscriber is
               purchasing sufficient Shares so that the acquisition cost is not
               less than $150,000;

          (f)  the Subscriber is duly incorporated and validly subsisting under
               the laws of its jurisdiction of incorporation and all necessary
               approvals by its directors, shareholders and others have been
               obtained to authorize execution and performance of this
               Subscription Agreement on behalf of the Subscriber;

          (g)  the entering into of this Subscription Agreement and the
               transactions contemplated hereby do not result in the violation
               of any of the terms and provisions of any law applicable to, or
               the constating documents of, the Subscriber or of any agreement,
               written or oral, to which the Subscriber may be a party or by
               which the Subscriber is or may be bound;

          (h)  the Subscriber has duly executed and delivered this Subscription
               Agreement and it constitutes a valid and binding agreement of the
               Subscriber enforceable against the Subscriber;

          (i)  it is not an underwriter of, or dealer in, the common shares of
               the Company, nor is the Subscriber participating, pursuant to a
               contractual agreement or otherwise, in the distribution of the
               Shares;

          (j)  it understands and agrees that none of the Shares have been
               registered under the 1933 Act, or under any state securities or
               "blue sky" laws of any state of the United States, and, unless so
               registered, may not be offered or sold in the United States or,
               directly or indirectly, to U.S. Persons except in accordance with
               the provisions of Regulation S, pursuant to an effective
               registration statement under the 1933 Act, or pursuant to an
               exemption from, or in a transaction not subject to, the
               registration requirements of the 1933 Act;

          (k)  it understands and agrees that offers and sales of any of the
               Shares prior to the expiration of a period of one year after the
               date of original issuance of the Shares (the "Restricted Period")
               shall only be made in compliance with the safe harbor provisions
               set forth in Regulation S, pursuant to the registration
               provisions of the 1933 Act or an exemption therefrom, and that
               all offers and sales after the Restricted Period shall be made
               only in compliance with the registration provisions of the 1933
               Act or an exemption therefrom;

          (l)  it agrees not to engage in any hedging transactions involving the
               Shares unless such transactions are in compliance with the
               provisions of the 1933 Act;

          (m)  it understands and agrees that the Company will refuse to
               register any transfer of the Shares not made in accordance with
               the provisions of Regulation S, pursuant to an effective
               registration statement under the 1933 Act or pursuant to an
               available exemption from the registration requirements of the
               1933 Act;

          (n)  it (i) is able to fend for itself in the Subscription; (ii) has
               such knowledge and experience in business matters as to be
               capable of evaluating the merits and risks of its prospective
               investment in the Shares; and (iii) has the ability to bear the
               economic risks of its prospective investment and can afford the
               complete loss of such investment;

          (o)  it understands and agrees that the Company and others will rely
               upon the truth and accuracy of the acknowledgments,
               representations and agreements contained in sections 7 and 8
               hereof and agrees that if any of

<PAGE>

                                      -5-

               such acknowledgments, representations and agreements are no
               longer accurate or have been breached, it shall promptly notify
               the Company;

          (p)  it acknowledges that it has not acquired the Shares as a result
               of, and will not itself engage in, any "directed selling efforts"
               (as defined in Regulation S under the 1933 Act) in the United
               States in respect of any of the Shares which would include any
               activities undertaken for the purpose of, or that could
               reasonably be expected to have the effect of, conditioning the
               market in the United States for the resale of any of the Shares;
               provided, however, that the Subscriber may sell or otherwise
               dispose of any of the Shares pursuant to registration of any of
               the Shares pursuant to the 1933 Act and any applicable state
               securities laws or under an exemption from such registration
               requirements and as otherwise provided herein;

          (q)  the Subscriber is not aware of any advertisement of any of the
               Shares; and

          (r)  no person has made to the Subscriber any written or oral
               representations:

               (i)   that any person will resell or repurchase any of the
                     Shares;

               (ii)  that any person will refund the purchase price of any of
                     the Shares;

               (iii) as to the future price or value of any of the Shares; or

               (iv)  that any of the Shares are or will be listed and posted for
                     trading on any stock exchange or automated dealer quotation
                     system other than the NASDAQ Small Cap Market or that
                     application has been made to list and post any of the
                     Shares of the Company on any other stock exchange or
                     automated dealer quotation system.

8.2       In this Subscription Agreement, the term "U.S. Person" shall have the
          meaning ascribed thereto in Regulation S.

9.        ACKNOWLEDGEMENT AND WAIVER

9.1       The Subscriber has acknowledged that the decision to purchase the
          Shares was solely made on the basis of publicly available information.
          The Subscriber hereby waives, to the fullest extent permitted by law,
          any rights of withdrawal, rescission or compensation for damages to
          which the Subscriber might be entitled in connection with the
          distribution of any of the Shares.

10.       LEGENDING OF SUBJECT SHARES

10.1      The Subscriber hereby acknowledges that a legend may be placed on the
          certificates representing any of the Shares to the effect that the
          Shares represented by such certificates are subject to a hold period
          and may not be traded until the expiry of such hold period except as
          permitted by applicable securities legislation.

10.2      The Subscriber hereby acknowledges and agrees to the Company making a
          notation on its records or giving instructions to the registrar and
          transfer agent of the Company in order to implement the restrictions
          on transfer set forth and described in this Subscription Agreement.

11.       PIGGYBACK REGISTRATION RIGHTS

11.1      Subject to Sections 11.2 through 11.4, if the Company decides to
          register any of its common stock either for its own account or the
          account of any of its other security holders, then the Company will:

          (a)  promptly give written notice of the proposed registration to the
               Subscriber, which includes a list of the jurisdictions in which
               the Company intends to attempt to qualify such securities under
               applicable state securities laws (the "Registered Notice"); and

<PAGE>

                                      -6-

          (b)  include in such registration (and any related qualification or
               other compliance filing under applicable state securities laws),
               and in any underwriting involved in the registration, all or any
               portion of the Shares as are specified in a written request made
               by the Subscriber to the Company within 30 days after receipt of
               the Registration Notice.

11.2      Section 11.1 does not apply to:

          (a)  registrations relating solely to employee benefit plans, or

          (b)  registrations on any form that does not permit secondary sales.

11.3      The registration granted under Section 11.1 will expire upon the
          shorter of:

          (a)  two years after the Closing Date, or

          (b)  such time as the Subscriber may dispose of all of its Shares it
               then owns in a single three month period under Rule 144 of the
               SECURITIES ACT.

11.4      Notwithstanding Section 11.1, if the registration described in the
          Registration Notice involves an underwriting, then:

          (a)  the Company shall so advise the Subscriber in the Registration
               Notice, and

          (b)  the Subscriber's rights to registration pursuant to Section 11.1
               shall be conditioned upon the Subscriber's participation, and
               inclusion of the Shares, in the underwriting as follows:

               (i)   the Subscriber and the Company (and any other security
                     holders proposing to distribute their securities through
                     such underwriting) shall enter into an underwriting
                     agreement in customary form with the representatives of the
                     underwriter or underwriters selected for such underwriting
                     by the Company;

               (ii)  notwithstanding any other provisions of this Section, if
                     the representatives of the underwriter or underwriters
                     determine in good faith that marketing factors make it
                     advisable to impose a limitation on the number of secondary
                     shares to be underwritten, the number of such secondary
                     shares, if any, that may be included in the registration
                     and underwriting on behalf of such holders, and any other
                     security holders proposing to distribute their securities
                     of the Company through such underwriting shall be allocated
                     in proportion, as nearly as practicable, to the respective
                     amounts of securities that they had requested to be
                     included in such registration at the time of filing the
                     registration statement;

               (iii) if the Subscriber disapproves of the underwriting terms, it
                     may elect to withdraw from the registration by written
                     notice to the Company and the representatives of the
                     underwriter or underwriters.

12.       COSTS

12.1      The Subscriber acknowledges and agrees that all costs and expenses
          incurred by the Subscriber (including any fees and disbursements of
          any special counsel retained by the Subscriber) relating to the
          purchase of the Shares shall be borne by the Subscriber.

13.       GOVERNING LAW

13.1      This Subscription Agreement is governed by the laws of the State of
          Nevada and the federal laws of the United States applicable herein.
          The Subscriber, irrevocably attorns to the jurisdiction of the State
          of Nevada.

14.       SURVIVAL

14.1      This Subscription Agreement, including without limitation the
          representations, warranties and covenants contained herein, shall
          survive and continue in full force and effect and be binding upon the
          parties hereto notwithstanding the completion of the purchase of the
          Shares by the Subscriber pursuant hereto.

<PAGE>

                                      -7-

15.       ASSIGNMENT

15.1      This Subscription Agreement is not transferable or assignable.

16.       EXECUTION

16.1      The Company shall be entitled to rely on delivery by facsimile machine
          of an executed copy of this Subscription Agreement and acceptance by
          the Company of such facsimile copy shall be equally effective to
          create a valid and binding agreement between the Subscriber and the
          Company in accordance with the terms hereof.

17.       SEVERABILITY

17.1      The invalidity or unenforceability of any particular provision of this
          Subscription Agreement shall not affect or limit the validity or
          enforceability of the remaining provisions of this Subscription
          Agreement.

18.       ENTIRE AGREEMENT

18.1      Except as expressly provided in this Subscription Agreement and in the
          agreements, instruments and other documents contemplated or provided
          for herein, this Subscription Agreement contains the entire agreement
          between the parties with respect to the sale of the Shares and there
          are no other terms, conditions, representations or warranties, whether
          expressed, implied, oral or written, by statute or common law, by the
          Company or by anyone else.


19.       NOTICES

19.1      All notices and other communications hereunder shall be in writing and
          shall be deemed to have been duly given if mailed or transmitted by
          any standard form of telecommunication. Notices to the Subscriber
          shall be directed to the address on page 8 and notices to the Company
          shall be directed to it at 400 Robson Street, Vancouver, British
          Columbia, Attention: The President.

20.       COUNTERPARTS

20.1      This Subscription Agreement may be executed in any number of
          counterparts, each of which, when so executed and delivered, shall
          constitute an original and all of which together shall constitute one
          instrument.

IN WITNESS WHEREOF the Subscriber has duly executed this Subscription Agreement
as of the date first above mentioned.

DELIVERY INSTRUCTIONS

1.        Delivery - please deliver the certificates to:

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

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

2.        Registration - registration of the certificates which are to be
          delivered at closing should be made as follows:

          Standard Radio Inc.
          ----------------------------------------------------------------------
          (name)


          2 St. Clair Avenue West, Toronto, Ontario M4V 1L6
          ----------------------------------------------------------------------
          (address)

<PAGE>

                                      -8-

3.        The undersigned hereby acknowledges that it will deliver to the
          Company all such additional completed forms in respect of the
          Subscriber's purchase of the Shares as may be required for filing with
          the appropriate securities commissions and regulatory authorities.


                                        Standard Radio Inc.
                                        ----------------------------------------
                                        (Name of Subscriber - Please type or
                                        print)


                                        /s/ David J. Cowan
                                        ----------------------------------------
                                        (Signature and, if applicable, Office)


                                        2 St. Clair Avenue West
                                        ----------------------------------------
                                        (Address of Subscriber)


                                        Toronto, Ontario  M4V 1L6
                                        ----------------------------------------
                                        (City, State or Province, Postal Code of
                                        Subscriber)


                                        Canada
                                        ----------------------------------------
                                        (Country of Subscriber)



                               A C C E P T A N C E

The above-mentioned Subscription in respect of the Shares is hereby accepted by
GlobalMedia.com,

DATED at Vancouver, B.C., this 7th day of September, 2000.
         ---------------       ---        ---------


GLOBALMEDIA.COM,

Per:     /s/ L. James Porter
         -------------------------------
         Authorized Signatory