SIXTH SUPPLEMENTAL INDENTURE




SIXTH SUPPLEMENTAL INDENTURE,
dated as of August 29, 2008, among Canwest Media Inc. (“CMI”), The New Republic, LLC
(the “New Guarantor”),
and The Bank of New York Mellon, as trustee (the “Trustee”).




WHEREAS, CanWest Media Inc., a
predecessor of CMI, the guarantors thereunder and the Trustee are parties to
that certain indenture, dated as of November 18, 2004 (as amended and
supplemented to the date hereof, the “Indenture”);




WHEREAS Section 8.01 of the Indenture
permits CMI and any Guarantor, when authorized by a Board Resolution of each of
them, and the Trustee to supplement the Indenture without notice to or consent
of any Noteholder to add a Guarantor;




WHEREAS, on August 29, 2008, the New
Guarantor guaranteed the indebtedness of CMI under the credit agreement dated as
of 13 October 2005, between, inter alia, CMI, as borrower,
the New Guarantor, as guarantor, such other guarantors as are from time to time
party thereto, The Bank of Nova Scotia, as administrative agent, lead arranger
and joint bookrunner and the lenders from time to time party thereto (as
amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”).




WHEREAS, it is necessary for the New
Guarantor to provide a Guarantee (as defined in the Indenture) under the
Indenture in accordance with Sections 4.14 and 11.04 thereunder;




WHEREAS, the Board of Directors of CMI
and the Management Committee of the New Guarantor have authorized this Sixth
Supplemental Indenture; and




WHEREAS, all things necessary to make
this Sixth Supplemental Indenture a valid supplement to the Indenture according
to its terms and the terms of the Indenture have been done.




NOW, THEREFORE, each party agrees as
follows for the benefit of the other parties and for the equal and ratable
benefit of the Holders of the Notes:




ARTICLE
I




GUARANTEES




Section
1.1                                The
New Guarantor hereby expressly assumes the obligations of a Guarantor under the
Indenture, as evidenced by this Sixth Supplemental Indenture and its execution
of a Guarantee in the form required under the Indenture.




Section
1.2                                In
accordance with Section 4.14 of the Indenture, the Guarantee of each New
Guarantor provided under Section 1.1 hereunder shall be automatically and
unconditionally released and discharged, without any further action required on
the part of the Trustee or any Holder of Notes, upon:




(1)  the unconditional
release of such New Guarantor from its liability in respect of the Indebtedness
under the Credit Agreement; or




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(2)  any sale or other
disposition (by merger or otherwise) to any Person that is not a Restricted
Subsidiary of a controlling interest in, or all or substantially all of the
assets of, such New Guarantor, provided that:




(a)  such
sale or disposition of such controlling interest or assets is otherwise in
compliance with the terms of the Indenture; and




(b)  such
assumption, guarantee or other liability of such New Guarantor has been released
by the Holders of the Other Indebtedness so guaranteed.




ARTICLE
II




OTHER
PROVISIONS




Section
2.1                                All
capitalized terms used and not otherwise defined herein shall have the meanings
ascribed to them in the Indenture.




Section
2.2                                THIS
SIXTH SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF
CONFLICTS OF LAW.  EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE
JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS SIXTH SUPPLEMENTAL INDENTURE, THE NOTES OR
THE GUARANTEES.




Section
2.3                                All
agreements of CMI and the New Guarantor in this Sixth Supplemental Indenture
shall bind their respective successors.  All agreements of the Trustee
in this Sixth Supplemental Indenture shall bind its successors.




Section
2.4                                The
parties may sign multiple counterparts of this Sixth Supplemental
Indenture.  Each signed counterpart shall be deemed an original, but
all of them together represent one and the same agreement.




Section
2.5                                The
parties to this Sixth Supplemental Indenture have expressly requested that this
Sixth Supplemental Indenture and all related notices, amendments and other
documents be drafted in the English Language.  Les parties a la
présente convention ont expressément exigé que cette convention et tous les
avis, modifications et autres documents y afférents soient rédigés en langue
anglaise seulement.




Section
2.6                                Except
as amended hereby, the Indenture and the Notes are in all respects ratified and
confirmed and all the terms shall remain in full force and effect.










[Signature page
follows]


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IN WITNESS WHEREOF, the parties have
caused this Sixth Supplemental Indenture to be duly executed, all as of the date
and year first written above.









CANWEST
      MEDIA INC.By:
            /s/ Richard M. LiepsicName: 
      Richard M. LeipsicTitle:   
      Senior Vice-President and General CounselBy:
            /s/ John E. MaguireName: 
      John E. MaguireTitle:   
      Chief Financial Officer







THE
      NEW REPUBLIC, LLCBy:
            /s/ Thomas C. StrikeName: 
      Thomas C. StrikeTitle:   
      Vice-PresidentBy:
            /s/ John E. MaguireName: 
      John E. MaguireTitle:   
      Vice-President







THE
      BANK OF NEW YORK MELLON, as TrusteeBy:
            /s/ Vanessa MackName:
      Vanessa MackTitle:  
      Vice President




SIXTH
SUPPLEMENTAL INDENTURE
 (2004 CMI NOTES INDENTURE)
 3