Exhibit 4.17

|DATED: September 1, 2004 |  | CONFORMED COPY
|------------------------ |  | --------------
|                        





SCANDINAVIAN
BROADCASTING SYSTEM (JERSEY) LIMITED

and

HARRY
EVANS SLOAN





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EMPLOYMENT
AGREEMENT

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TAYLOR
WESSING
Carmelite
50 Victoria Embankment
Blackfriars
London EC4Y 0DX

+44
(0)20 7300 7000
+44 (0)20 7300 7100
DX 41 London

Ref:
AWG/SBS-10-2

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Index

|Clause No. |  | Page No.                                     
|---------- |  | ---------------------------------------------
|1.         |  | Definitions                                  
|2.         |  | Term and Appointment                         
|3.         |  | Powers, Duties and Working Hours             
|4.         |  | Paid Vacation                                
|5.         |  | Disclosure of Interests                      
|6.         |  | Remuneration                                 
|7.         |  | Option Extension                             
|8.         |  | Stock Options                                
|9.         |  | Expenses                                     
|10.        |  | Confidential Information                     
|11.        |  | Ownership of Intellectual Property           
|12.        |  | Restrictions after Termination               
|13.        |  | Termination with or without Events of Default
|14.        |  | Obligations Upon Termination                 
|15.        |  | Adverse Change                               
|16.        |  | Notices                                      
|17.        |  | Proper Law                                   
|18.        |  | Construction                                 
|19.        |  | General                                      
|20.        |  | Other Agreements                             

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THIS EMPLOYMENT AGREEMENTis made as of September 1, 2004

BETWEEN

RECITALS

THE PARTIES AGREE AS FOLLOWS:

1.     Definitions

In this Agreement unless the context otherwise requires:



1

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2.     Term and Appointment

3.     Powers, Duties and Working Hours

2

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4.     Paid Vacation

During the Appointment the Executive shall be entitled to 5 (five) weeks paid vacation each year during the Term.

5.     Disclosure of Interests

3

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6.     Remuneration

4

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7.     Option Extension

5

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8.     Stock Options

Exercise Price:
US$31.00Date of Vesting

No. of Option
Shares Vesting8 January 2005

31,2508 July 2005

31,2508 January 2006

31,2508 July 2006

31,2508 January 2007

31,2508 July 2007

31,2508 January 2008

31,2508 July 2008

31,250


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9.     Expenses

10.   Confidential Information

11.   Ownership of Intellectual Property

The Executive shall promptly disclose to the Company all Inventions prepared or created by the Executive during his employment. The Executive agrees that such
Inventions shall, to the fullest extent permitted by law, belong to, vest in, and be the sole, exclusive, absolute, and unencumbered property of
the Company, and the Executive hereby irrevocably assigns, transfers, and conveys to the Company and/or its nominees, without further consideration, all of his right, title, and interest in such
Inventions, and all of his right, title, and interest in any Intellectual Property Rights in such Inventions. The Executive undertakes absolutely and unconditionally to execute all documents and do
all other things necessary to give effect to this provision. The Executive acknowledges and agrees that any copyrightable works he prepares or creates within the scope of his employment are "works
made for hire" under the United States Copyright Act, and that the Company will be considered the author of such works, and owns all rights comprised in the copyrights for such works.

12.   Restrictions after Termination

7

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13.   Termination with or without Events of Default



8

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14.   Obligations Upon Termination

15.   Adverse Change

9

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10

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16.   Notices

Any notice to be given hereunder shall be in writing. Notices may be given by either party by personal delivery or post or by fax addressed to the other party at
(in the case of the Company) its registered office for the time being and (in the case of the Executive) his last known address first above written and any such notice given by letter or fax shall be
deemed to have been served at the time at which the letter was delivered personally or transmitted or if sent by post would be delivered in the ordinary course of post. Copies of all notices sent to
the Executive shall be sent to Del, Shaw, Moonves, Tanaka & Finkelstein, 2120 Colorado Avenue, Suite 200, Santa Monica, CA 90404, USA, Attention: Ernie Del. All notices given to the Company
shall also be delivered to SBS at Rietlandpark 353 1019EM Amsterdam, The Netherlands, Attention: Company Secretary

17.   Proper Law

18.   Construction

19.   General

No failure or delay by the Company in exercising any right, power or privilege under this Agreement shall operate as a waiver thereof nor shall any single or
partial exercise by the Company of any right, power or privilege preclude any further exercise thereof or the exercise of any right, power or privilege.

20.   Other Agreements

This Agreement shall supersede and replace all previous agreements between the Company or any other member of the SBS Group and the Executive, if any, in relation
to his employment including as from the Commencement Date, the Prior Agreement.

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IN WITNESSwhereof this Agreement has been executed as at the date first written above

|Signed by                 |  | ) | /s/ Harry Evans Sloan                           
|------------------------- |  | - | ------------------------------------------------
|HARRY EVANS SLOAN         |  | ) |                                                 
|in the presence of:       |  | ) | /s/ Ernest Dell                                 
|Ernest Del                |  |   |                                                 
|                          |  |   |                                                 
|Signed by                 |  | ) | /s/ Anthony Ghee        /s/ Juergen von Schwerin
|for and on behalf of      |  | ) |                                                 
|SCANDINAVIAN BROADCASTING |  | ) |                                                 
|SYSTEM (JERSEY) LIMITED   |  | ) |                                                 
|in the presence of:       |  | ) | /s/ Erik T. Moe                                 
|Erik T.Moe                |  |   |                                                 

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