Document:

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                                                                  EXHIBIT 10.19

                        BUSINESS OPPORTUNITIES AGREEMENT
                 AS AMENDED AND RESTATED AS OF FEBRUARY 7, 1996

            This Agreement (the "AGREEMENT") is made as of this
7th day of February, 1996 by and between HOLLINGER INTERNATIONAL INC., a
Delaware corporation formerly named American Publishing Company (the "COMPANY"),
and HOLLINGER INC., a corporation continued under the laws of Canada
("HOLLINGER").

            WHEREAS, the Company and Hollinger, in connection with the initial
public offering of the Company's Class A Common Stock in May 1994, entered into
a Business Opportunities Agreement dated May 11, 1994 (the "1994 BUSINESS
OPPORTUNITIES AGREEMENT"), whereby they stated their desire that the Company
would be Hollinger's principal vehicle for engaging in the newspaper business in
the United States and Israel and set forth certain principles governing the
start-up, acquisition, development and operation of newspaper and other media
business in the United States and Israel by the Company;

            WHEREAS, on October 13, 1995, pursuant to the terms of a Share
Exchange Agreement dated as of July 19, 1995 (the "SHARE EXCHANGE AGREEMENT"),
the Company and Hollinger reorganized their international newspaper interests by
means of the transfer to the Company of Hollinger's 58.4% indirect interest in
The Telegraph plc, a corporation organized under the laws of England ("THE
TELEGRAPH") (including The Telegraph's approximate 25% interest in John Fairfax
Holdings Limited, an Australian newspaper and magazine publisher ("FAIRFAX")),
an option to acquire an additional 5.2% of The Telegraph's ordinary shares from
another shareholder, and Hollinger's direct and indirect 19.3% interest in
Southam Inc., a Canadian newspaper and magazine publisher ("SOUTHAM"), in
exchange for 33,610,754 shares of

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Class A Common Stock of the Company and 739,500 shares of the Company's newly
created, non-voting Series A Redeemable Convertible Preferred Stock (the
"REORGANIZATION");

            WHEREAS, pursuant to Section 5(d) of the Share Exchange Agreement,
the Company and Hollinger amended and restated the 1994 Business Opportunities
Agreement to reflect the objectives and effects of the Reorganization, effective
October 13, 1995;

            WHEREAS, on February 7, 1996 the Company completed an underwritten
public offering of 14,000,000 shares of Class A Common Stock (plus an additional
2,100,000 shares subject to the Underwriters' overallotment option) (the
"Offering") and, in connection with the Offering, the Company and Hollinger
agreed that it would be appropriate to further amend and restate the Business
Opportunities Agreement as provided herein, effective as of the date hereof;

            WHEREAS, in accordance with the terms of the 1994 Business
Opportunities Agreement, the Audit Committee of the Board of Directors of the
Company has approved this Agreement as an amendment and restatement of the 1994
Business Opportunities Agreement;

            WHEREAS, after giving effect to the Offering Hollinger owns
approximately 66.5% of the total outstanding shares of both classes of the
Company's Common Stock and 88.2% of the combined voting power of both classes of
the Company's Common Stock;

            WHEREAS, Hollinger's long-term business objective is to operate
successfully in the Newspaper Business (as defined herein) and in the Media
Business (as defined herein) in numerous geographic regions throughout the
world, as market conditions and available resources permit;

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            WHEREAS, pursuant to the terms of that certain Co-operation
Agreement dated June 23, 1992 between Hollinger and The Telegraph (the
"CO-OPERATION AGREEMENT"), a copy of which is attached hereto as Annex A and
which will remain in effect following the Reorganization, Hollinger has
undertaken to restrict its activities and the activities of entities controlled
by it in respect to Newspaper and Media Businesses carried on within the
Telegraph Territory (as defined herein);

            WHEREAS, the parties desire that the Company will be Hollinger's
principal vehicle for engaging in the Newspaper Business and Related Media
Businesses (as defined herein) in the United States, Israel and, through The
Telegraph, in the Telegraph Territory and that in the normal course of its
business the Company intends to seek additional newspaper and related media
assets for acquisition and development in these areas;

            WHEREAS, the parties also desire that, through its investment in
Southam, the Company will engage in the Newspaper Business in Canada; and

            WHEREAS, for their convenience and mutual benefit the parties hereto
wish to set forth herein the principles governing the start-up, acquisition,
development and operation of Newspaper and Media Businesses in the United
States, Israel, the Telegraph Territory and Canada by the Company and Hollinger.

            NOW, THEREFORE, for and in consideration of the recitals set forth
above and the agreements, rights, obligations and covenants contained herein,
the parties hereto, intending to be legally bound, hereby agree as follows:

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                                   ARTICLE I

                                  DEFINITIONS

            1.1 PARTICULAR TERMS. As used in this Agreement, the following terms
shall have the meanings ascribed to them below:

                  (a) "AFFILIATE" shall mean for any Person, another Person
directly or indirectly controlling, controlled by or under common control with
such Person; provided, however, that for the purposes of this Agreement, neither
the Company nor any Person controlled by the Company shall be deemed to be an
Affiliate of Hollinger and neither Hollinger nor any Person who is controlled by
Hollinger other than through its ownership of shares of the Company shall be
deemed to be an Affiliate of the Company. For the purposes hereof, "control,"
"controlling" and "controlled" shall mean the power, direct or indirect, of a
Person to direct the business and affairs of another generally whether by share
ownership, agreement or otherwise.

                  (b) "AUDIT COMMITTEE" shall mean the Audit Committee of the
Board of Directors of the Company, which committee shall at all times consist of
directors a majority of whom are Independent Directors.

                  (c) "BENEFICIAL OWNERSHIP" shall have the meaning attributed
to such term under Section 13(d) of the United States Securities Exchange Act of
1934.

                  (d) "INDEPENDENT DIRECTORS" shall mean directors of the
Company who are not (i) employees, officers or directors (or former employees,
officers or directors) of Hollinger or any of its Subsidiaries or Affiliates
(other than the Company) or (ii) employees or officers (or former employees or
officers) of the Company or any of its Subsidiaries.

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                  (e) "MEDIA BUSINESS" shall mean the business of the broadcast
of radio, television, cable and satellite programs (including national, regional
or local radio, television, cable and satellite programs).

                  (f) "NEWSPAPER BUSINESS" shall mean the business of publishing
and distributing (including distributing by electronic means) newspapers,
magazines and other paid or free publications having national, regional, local
or targeted markets, including publications having limited or no news or
editorial content such as shopper and other "total market coverage" publications
and similar publications.

                  (g) "PERSON" shall mean any individual, partnership,
corporation, business trust, joint stock company, trust, unincorporated
association, joint venture, or other entity of whatever nature.

                  (h) "RELATED MEDIA BUSINESS" shall mean any Media Business
that is an Affiliate of, or is owned or operated in conjunction with, a
Newspaper Business owned or controlled by the Company and its Subsidiaries or
Hollinger, as the case may be, as a result of an acquisition or otherwise.

                  (i) "SUBSIDIARY" shall mean any corporation 50% or more of the
voting power of the capital stock of which is held directly or indirectly by
Hollinger or the Company, as the case may be.

                  (j) "TELEGRAPH TERRITORY" shall have the meaning ascribed
thereto in the Co-operation Agreement.

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                  (k) "UNITED STATES" shall mean the United States of America,
including the states thereof and the District of Columbia.

            1.2 OTHER TERMS. Other capitalized teams shall have the meanings
ascribed to them elsewhere in this Agreement.

                                   ARTICLE II

                      CORPORATE OPPORTUNITY, ALLOCATION AND
                             CONFLICTS OF INTEREST

            2.1 CORPORATE OPPORTUNITY GENERALLY. This Section 2.1 sets forth
general principles which underlie the corporate structure of the Company and
Hollinger following the Reorganization and which provide a framework whereby
Hollinger and the Company will resolve conflicts over business opportunities.
The benefits and obligations of these principles are to apply to the Company and
Hollinger so long as Hollinger and its Affiliates have beneficial-ownership of
more than 50% of the voting power of the Company's outstanding securities.

            2.2 ALLOCATION OF OPPORTUNITIES. (a) The parties hereby agree that,
subject to certain exceptions set forth in Section 3.8 below, opportunities
relating to the start-up, acquisition, development and operation of a Newspaper
Business and Related Media Business in the United States, Israel and the
Telegraph Territory shall be allocated to the Company and its Subsidiaries
subject to the limitations of the Co-Operation Agreement, and opportunities
relating to the start-up, acquisition, development and operation of a Newspaper
Business and Related Media Business in Canada shall be allocated to Hollinger.
Subject to the terms of the Co-Operation Agreement, with respect to
opportunities in the Media Business other than in a Related Media Business as
provided above, Hollinger intends to reserve the opportunity to itself or such
of its Subsidiaries or Affiliates or the Company's Subsidiaries or Affiliates as
Hollinger,

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in its reasonable and good faith judgment, believes will be best able to develop
such opportunity in light of such factors as the nature and requirements of the
opportunity (including financial requirements), the respective levels of
relevant experience of the Company and Hollinger and their respective
Subsidiaries and Affiliates, the similarity of the opportunity to and
compatibility with the respective then existing operations, facilities and plans
of the Company and Hollinger and their respective Subsidiaries and Affiliates,
and the requirements of applicable law relating to broadcasting or other aspects
of the Media Business.

                  (b) For the purposes of this Agreement, a Newspaper Business
is conducted in the United States, Israel or Canada if, based on estimates
deemed reasonable by the parties, 25% or more of the readers of a newspaper,
magazine or other publication published as part of such business are persons
resident in the United States, Israel or Canada, as the case may be. Different
editions of a newspaper or other publication published under the same title
shall be treated as one newspaper or other publication if substantially similar.
For the purpose of this Agreement, a Related Media Business is conducted in the
United States, Israel or Canada if, based on estimates deemed reasonable by the
parties, 25% or more of the listeners, viewers, or subscribers or other
customers of such Media Business are located in the United States, Israel or
Canada, as the case may be.

                  (c) Nothing in this Agreement is intended to modify or
contravene the Co-operation Agreement.

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                                  ARTICLE III

                       RESTRICTIONS; PERMITTED INVESTMENTS

            3.1 INVESTMENT IN THE TELEGRAPH. For so long as Hollinger and its
Affiliates have beneficial ownership of 50% or more of the voting power of the
Company's outstanding securities, neither Hollinger nor a Subsidiary (other than
the Company or any of its Subsidiaries) or an Affiliate of Hollinger will
acquire beneficial ownership of any voting securities of The Telegraph except
indirectly as a result of the ownership or acquisition of securities of the
Company; provided, however, that the foregoing clause shall, not restrict any
individual who may be deemed to be an Affiliate of Hollinger from acquiring
beneficial ownership of securities of The Telegraph through any equity-based
compensation program conducted by The Telegraph for its officers, directors or
key employees.

            3.2 COMPLIANCE WITH CO-OPERATION AGREEMENT. The Company and
Hollinger hereby acknowledge that pursuant to the terms of the Co-operation
Agreement, Hollinger has undertaken to restrict its activities and the
activities of entities controlled by it in respect of Newspaper and Media
Businesses carried on in the Telegraph Territory on the terms and conditions set
out therein. For so long as Hollinger and its Affiliates have beneficial
ownership of 50% or more of the voting power of the Company's outstanding
securities, neither the Company nor Hollinger shall, without the other's prior
written consent, directly or indirectly in any manner whatsoever including,
without limitation, either on its own account or in conjunction with or on
behalf of any other Person, make any investment or take any action which would
contravene clause 2 of the Co-operation Agreement. Furthermore, Hollinger agrees
that, without the prior written consent of the Company, it shall not agree to
amend or modify the

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Co-operation Agreement and shall not waive any benefit or right belonging or
accruing to it thereunder.

            3.3 INVESTMENT IN SOUTHAM. For so long as Hollinger and its
Affiliates have beneficial ownership of 50% or more of the voting power of the
Company's outstanding securities, neither Hollinger nor a Subsidiary (other than
the Company or any of its Subsidiaries) or an Affiliate of Hollinger will
acquire beneficial ownership of any voting securities of Southam except
indirectly as a result of the ownership or acquisition of securities of the
Company; provided, however, that the foregoing clause shall not apply if the
Company and its Subsidiaries are precluded by Canadian foreign ownership laws or
the constrained share provisions of Southam's Articles of Incorporation, as
amended from time to time, from holding or acquiring beneficial ownership of any
voting securities of Southam; and, provided further, that this Section 3.3 shall
not restrict any individual who may be deemed to be an Affiliate of Hollinger
from acquiring beneficial ownership of securities of Southam through any
equity-based compensation program conducted by Southam for its officers,
directors or key employees.

            3.4 HOLLINGER ACQUISITIONS. Subject to Section 3.8 hereof, if
Hollinger or a Subsidiary (other than the Company or any of its Subsidiaries) or
an Affiliate of Hollinger (an "ACQUIRING ENTITY") acquires the capital stock or
substantially all of the assets of any other Person which engages in the
Newspaper Business or Related Media Business in the United States or in Israel
(an "ACQUIRED ENTITY"), Hollinger agrees that it shall cause the Acquired Entity
(or those operations which relate to the Newspaper Business or Related Media
Business in the United States or Israel) to be offered for sale to the Company
(a) at a price equivalent to that part of the consideration paid by Hollinger
(or its Subsidiary or Affiliate) attributable to the Newspaper Business or
Related Media Business carried on in the United States or in Israel by the

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Acquired Entity and (b) on other terms which sire no less favorable than those
upon which the Acquired Entity (or those operations which relate to the
Newspaper Business or Related Media Business) was acquired by Hollinger (or its
Subsidiary or Affiliate).

            3.5 COMPANY ACQUISITIONS. Subject to Section 3.8 hereof, if the
Company or a Subsidiary or Affiliate of the Company (an "ACQUIRING ENTITY")
acquires the capital stock or substantially all of the assets of any other
Person which engages in the Newspaper Business or Related Media Business in
Canada (an "ACQUIRED ENTITY"), the Company agrees that it shall cause the
Acquired Entity (or those operations which relate to the Newspaper Business or
Related Media Business in Canada) to be offered for sale to Hollinger (a) at a
price equivalent to that part of the consideration paid by the Company (or its
Subsidiary or Affiliate) attributable to the Newspaper Business or Related Media
Business carried on in Canada by the Acquired Entity and (b) on other terms
which are no less favorable than those upon which the Acquired Entity (or those
operations which relate to the Newspaper Business or Related Media Business) was
acquired by the Company (or its Subsidiary or Affiliate).

            3.6 OFFERS. An offer by an Acquiring Entity pursuant to Sections 3.4
or 3.5 shall be made by the Acquiring Entity's giving to the Company, with
respect to offers made pursuant to Section 3.4, or to Hollinger, with respect to
offers made pursuant to Section 3.5, prompt written notice of such offer (but in
no event later than 60 days after the date of the consummation of the
acquisition by the Acquiring Entity) disclosing all material information
relating to the Acquired Entity, the purchase price thereof and such other terms
and conditions as may be reasonable, taking into account applicable regulatory,
taxation, accounting and other financial considerations. The Company or
Hollinger, as the case may be, shall have a period of 60 days after receipt of
such notice to elect to purchase the Acquired Entity, or those operations

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that relate to the Newspaper Business or Related Media Business, at such price
and on such specified terms and conditions. Such election shall be in writing
and shall be signed by a duly authorized executive officer(s) of the Company or
Hollinger, as the case may be, and, where the Company is making such election,
after review and approval by the Audit Committee of the Company. If no election
to purchase is given by the Company or Hollinger, as the case may be, then such
party shall be deemed to have determined not to acquire the Acquired Entity (or
those operations which relate to the Newspaper Business or Related Media
Business). If acceptance of any offer made pursuant to Section 3.4 or 3.5 is
delayed by reason of the requirements of any regulatory authority, necessity for
stockholder approval or requirements of applicable law, the time for acceptance
shall be extended to expire no more than 10 days after the satisfaction or
expiration of such requirements or the giving of such approval.

            3.7 AUDIT COMMITTEE ACTION. The Company's decision pursuant to
Section 3.2 to consent to an amendment, modification or waiver of any provision
of the Co-operation Agreement and the Company's decision pursuant to Section 3.6
hereof to acquire an Acquired Entity, or those operations of an Acquired Entity
relating to the Newspaper Business or Related Media Business, shall be made by
the majority decision of the Audit Committee.

            3.8 PERMITTED INVESTMENTS. (a) Nothing in this Agreement shall
restrict:

                                        (i) Hollinger or any Subsidiary (other
                  than the Company) or Affiliate from acquiring or holding,
                  directly or indirectly, a beneficial interest in any Person
                  engaged in the Newspaper Business or Related Media Business in
                  the United States or in Israel, provided that any

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                  Newspaper Business or Related Media Business that may be
                  conducted by such Person does not constitute a Principal
                  Portion of such Person (as defined in Section 3.8(b) below);

                                        (ii) Hollinger or any Subsidiary (other
                  than the Company) or Affiliate from continuing to hold,
                  directly or indirectly, a beneficial interest or maintaining
                  its proportionate interest in any Person engaged in the
                  Newspaper Business or Related Media Business in the United
                  States or in Israel through the acquisition of additional
                  equity interests if following the original acquisition by
                  Hollinger or any Subsidiary or Affiliate of a beneficial
                  interest in such Person, a Newspaper Business or Related Media
                  Business in the United States or in Israel becomes a Principal
                  Portion of that Person (provided that this exception shall not
                  apply if the original acquisition was made with the intention
                  that the Newspaper Business or Related Media Business would
                  become a Principal Portion of the Person);

                                        (iii) The Company or any Subsidiary or
                  Affiliate from acquiring or holding, directly or indirectly, a
                  beneficial interest in any Person engaged in the Newspaper
                  Business or Related Media Business in Canada, provided that
                  any Newspaper Business or Related Media Business that may be
                  conducted by such Person does not constitute a Principal
                  Portion of such Person (as defined in Section 3.8(b) below);

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                                        (iv) The Company or any Subsidiary or
                  Affiliate from continuing to hold, directly or indirectly, a
                  beneficial interest or maintaining its proportionate interest
                  in any Person engaged in the Newspaper Business or Related
                  Media Business in Canada through the acquisition of additional
                  equity interests if following the original acquisition by the
                  Company or any Subsidiary or Affiliate of a beneficial
                  interest in such Person, a Newspaper Business or Related Media
                  Business in Canada becomes a Principal Portion of that Person
                  (provided that this exception shall not apply if the original
                  acquisition was made with the intention that the Newspaper
                  Business or Related Media Business would become a Principal
                  Portion of the Person);

                                        (v) Hollinger or any Subsidiary (other
                  than the Company) or Affiliate from acquiring or holding not
                  more than 20% of the beneficial interest in any voting
                  securities of any corporation which is engaged in the
                  Newspaper Business or Related Media Business in the United
                  States or in Israel if such shares are listed on a national
                  securities exchange in the United States or in Israel or
                  quoted on Nasdaq;

                                        (vi) The Company or any Subsidiary or
                  Affiliate from acquiring or holding not more than 20% of the
                  beneficial interest in any voting securities of any
                  corporation which is engaged in the Newspaper Business or
                  Related Media Business in Canada if such shares are listed on
                  a national securities exchange in the United States or Canada
                  or quoted on Nasdaq;

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                                        (vii) Any Subsidiary (other than the
                  Company) of Hollinger, the capital stock of which at such time
                  is in part publicly held, from acquiring or holding a
                  beneficial interest in any Person engaged in the Newspaper
                  Business or Related Media Business in the United States to the
                  extent expressly permitted in any cooperation or similar
                  agreement between Hollinger and such Subsidiary relating to
                  the allocation of newspaper and media ownership and
                  acquisition opportunities so long as such agreement is not
                  inconsistent with the provisions of Article III hereof and
                  does not enlarge the exceptions set forth in subsections (i),
                  (ii) and (v) of Section 3.8(a) hereof; or

                                        (viii) Any Subsidiary of the Company,
                  the capital stock of which at such time is in part publicly
                  held, from acquiring or holding a beneficial interest in any
                  Person engaged in the Newspaper Business or Related Media
                  Business in Canada to the extent expressly permitted in any
                  cooperation or similar agreement between the Company and such
                  Subsidiary relating to the allocation of newspaper ownership
                  and acquisition opportunities so long as such agreement is not
                  inconsistent with the provisions of Article III hereof and
                  does not enlarge the exceptions set forth in subsections
                  (iii), (iv) and (vi) of Section 3.8(a) hereof;

                                        (ix) Companies or entities in which
                  Hollinger has directly or indirectly an equity investment
                  interest, but which are not Subsidiaries of Hollinger
                  (including The Financial Post Company, a

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                  Canadian newspaper partnership), from acquiring or holding,
                  directly or indirectly, a beneficial interest in any Person
                  engaged in the Newspaper Business or Related Media Business in
                  the United States or in Israel;

                                        (x) Companies or entities in which the
                  Company has directly or indirectly an equity investment
                  interest, but which are not Subsidiaries of the Company
                  (including Southam and Fairfax), from engaging in or acquiring
                  or holding, directly or indirectly, a beneficial interest in
                  any Person engaged in the Newspaper Business or Related Media
                  Business in Canada; or

                                        (xi) any investment made as of the date
                  hereof or hereafter by the Company, directly or indirectly, in
                  Southam including, without limitation, the acquisition or
                  holding by the Company, directly or indirectly, of any
                  interest in Southam or any successor or affiliate thereof.

                  (b) A Newspaper Business shall constitute a "PRINCIPAL
PORTION" of a Person if the net asset value of such business is equal to 25% or
more of the consolidated net asset value of the Person or the net income of such
business is equal to 25% or more of the consolidated net income of the Person,
using for such calculations the most recent consolidated audited annual
financial statements of such Person if the end of the period to which such
financial statements relate is not more than 18 months before the date of
investment in such Person by Hollinger or the Company or their respective
Subsidiaries or Affiliates or, if there are no such financial statements, if the
net asset value or net income of such Newspaper Business or Related Media
Business exceeds U.S. $5,000,000. Net asset value and net income shall be

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calculated according to applicable United States generally accepted accounting
principles with intangibles included.

                                   ARTICLE IV

                                  MISCELLANEOUS

            4.1 EFFECTIVE TIME; TERMINATION. This Agreement shall become
effective upon execution; provided, however, that it shall not be effective
against the Company unless and until approved or ratified by a majority of the
Audit Committee of the Board of Directors of the Company. This Agreement shall
continue in force so long as Hollinger and its Affiliates have beneficial
ownership of 50% or more of the voting power of the Company's outstanding
securities.

            4.2 MODIFICATION; WAIVER. This Agreement may be modified in any
manner and at any time but only by written instrument executed by the parties
hereto. Any of the terms, covenants and conditions of this Agreement may be
waived at any time by the party entitled to the benefit of such term, covenant
or condition; provided, however, such waiver must be in writing and executed by
the party against whom such waiver is asserted. No modification or waiver which
materially alters the rights or obligations of the Company shall be effective
against the Company unless and until approved or ratified by a majority of the
Audit Committee of the

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Board of Directors of the Company. No course of dealing will be deemed effective
to modify, amend or discharge any part of this Agreement or any rights or
obligations of any party under or by reason of this agreement.

            4.3 NOTICES. Any notice or other communication required or permitted
to be given hereunder shall be in writing and shall be given by prepaid first
class mail, by facsimile or other means of electronic communication or by
delivery as hereafter provided. Any such notice or other communication, if
mailed by prepaid first class mail at anytime other than during a general
discontinuance of postal service due to strike, lockout or otherwise, shall be
deemed to have been received on the fourth business day after the postmarked
date thereof, or if sent by facsimile or other means of electronic
communication, shall be deemed to have been received on the business day
following the sending, or if delivered by hand shall be deemed to have been
received at the time it is delivered to the applicable address noted below
either to the individual designated below or to an individual at such address
having apparent authority to accept deliveries on behalf of the addressee.
Notice of change of address shall be governed by this section. In the event of a
general discontinuance of postal service due to strike, lockout or otherwise,
notices or other communications shall be delivered by hand or sent by facsimile
or other means of electronic communication and shall be deemed to have been
received in accordance with this section. Notices and other communications shall
be addressed as follows:

                  (a)   if to Hollinger:

                        10 Toronto Street
                        Toronto, Ontario
                        Canada M5C 2B7

                        Attention:  Vice-President and Secretary
                        Telecopier Number:  (416) 364-2088

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                  (b)   if to the Company:

                        401 North Wabash Avenue
                        Chicago, Illinois USA 60611

                        Attention:  Vice President and Secretary
                        Telecopier Number:  (312) 321-0629

            4.4 HEADINGS. The headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

            4.5 THIRD PARTY RIGHTS. This Agreement shall not provide any third
parties with any remedy, claim, liability, reimbursement, cause of action or
other right in addition to those existing without reference to this Agreement.

            4.6 ENTIRE AGREEMENT. This Agreement embodies the entire agreement
and understanding and, except as set forth herein, supersedes all prior
agreements and understandings of the parties with respect to the matters
contemplated hereby.

            4.7 AFFILIATES. The parties hereto acknowledge that they conduct
their business operations through Subsidiaries and/or Affiliates. The parties
hereto therefore agree that they will cause their respective Subsidiaries and
controlled Affiliates to abide by the terms of this Agreement as if they were
parties hereto to the extent necessary to carry out the purposes of this
Agreement. Further, each party shall be entitled to cause its obligations
hereunder to be satisfied, and to cause its benefits and rights hereunder to be
received and enforced, by its Subsidiaries and controlled Affiliates.

            4.8 COUNTERPARTS. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original and all of which shall,
constitute one and the same instrument.

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            4.9 CHOICE OF LAW. This Agreement shall be interpreted and construed
in accordance with the internal laws (and not the conflicts of laws rules) of
the State of Delaware applicable to contracts made and to be performed in the
State of Delaware.

            4.10 ASSIGNMENT. This Agreement shall be binding upon and inure to
the benefit of the successors of the parties but shall not be assignable without
the prior written consent of Hollinger or the Company (subject to the prior
written approval of the Audit Committee), respectively.

            4.11 SEVERABILITY. If any provision of this Agreement is prohibited
by or held to be invalid under applicable law, such provision will be
ineffective to the extent of such prohibition or invalidity, without
invalidating the remaining provisions of this Agreement. Each provision in this
Agreement shall be read and construed independently of the other provisions
hereof. If any provision of this Agreement, as applied to any party or to any
circumstances, is adjudged by a court to be invalid or unenforceable for any
reason, such judgment shall in no way affect any other provision of this
Agreement, the application of such provision in any other circumstances or to
any other party or the validity or enforceability of this Agreement. If any
provision or part of a provision in this Agreement is held to be unenforceable
because of the duration of such provision, the geographical area covered by such
provision or the range of activities covered by such provision, the parties
agree that the court making such determination will have the power to reduce the
duration, area and scope of such provisions and to delete specific words or
phrases, if and as necessary under law, and in its reduced form such provision
will then be enforceable and will be enforced.

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            IN WITNESS WHEREOF, the parties have executed and delivered this
Agreement as of the date first set forth above.

                                             HOLLINGER INC.

                                             By:/s/ J. A. Boultbee
                                                _______________________________
                                                J.A Boultbee
                                                Vice President, Finance
                                                and Treasury

                                             By:/s/ Charles G. Cowan
                                                _______________________________
                                                Charles G. Cowan
                                                Vice President and Secretary

ATTEST:                                         HOLLINGER INTERNATIONAL INC.

By:/s/ Kenneth L. Serota                        By:/s/ J. David Dodd
   ______________________________                  ____________________________
   Kenneth L. Serota                               J. David Dodd
   Vice President and Secretary                    Vice President<PAGE>
   PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE
  SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL
             TREATMENT. SUCH PORTIONS ARE DESIGNATED [REDACTED].

                                                                   EXHIBIT 10.20

                        RELEASE AND SETTLEMENT AGREEMENT

      This Release and Settlement Agreement (the "Agreement") is entered into
this 27th day of April 2004 between Peter Y. Atkinson ("Atkinson") and Hollinger
International, Inc. ("International").

      WHEREAS by resolutions dated June 19, 2003, and January 20, 2004, the
Board of Directors of International formed and authorized a Special Committee
(the "SC") to investigate, among other things, allegations regarding various
related-party transactions and payments, including various "non-competition"
payments;

      WHEREAS Atkinson was a recipient of the "non-competition" payments;

      WHEREAS, in early November 2003, Atkinson volunteered to repay a portion
of the "non-competition" payments;

      WHEREAS during the course of its investigation, the Special Committee
discovered, among other things, another category of related-party payments,
i.e., those made under the Hollinger Digital Management Incentive Plan;

      WHEREAS Atkinson was a recipient of payments under the Hollinger Digital
Management Incentive Plan;

      WHEREAS on December 10, 2003, the action Cardinal Value Equity Partners,
L.P. v. Black, et al., C.A. No. 105-N (Del. Ch., filed Dec. 10, 2003) (the
"Cardinal Action") was brought on behalf of International, naming Atkinson,
among other defendants, challenging, among other things, the "non-competition"
payments;

      WHEREAS on January 16, 2004, the SC filed suit against, among others,
Conrad M. Black and F. David Radler in the United States District Court for the
Southern District of New York, which case was subsequently dismissed and refiled
in the United States District Court for the Northern District of Illinois,
Eastern Division, Case No. 04C 0698 (the "Illinois Action");

      WHEREAS in or about April 2004, the SC began discussions with Atkinson
regarding resolving International's claims against Atkinson;

      WHEREAS, Atkinson wishes to settle and finally resolve all actual or
potential claims arising out of or relating to the matters that have been or may
be asserted against him in the Cardinal Action and the Illinois Action;

      WHEREAS, Atkinson has denied that he has liability to any of the
plaintiffs in the Cardinal Action and/or the Illinois Action and has not
admitted any of the allegations of the complaints filed in those actions;

      WHEREAS, Atkinson has agreed to enter into the Agreement to resolve any
potential liability in connection with the Cardinal Action and the Illinois
Action, and to reduce further expense, inconvenience, and the distraction of
burdensome and protracted litigation;

<PAGE>

      WHEREAS, the SC believes that this settlement with Atkinson (the "Atkinson
Settlement") is fair, reasonable and adequate and in the best interests of the
shareholders of International; and

      NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED, subject to the
approval of the Court as more fully described herein, as follows:

      1. Settlement Amount-- "Non-Competition" Payments and Hollinger Digital
Management Incentive Plan Payments in Full-with Interest. Atkinson agrees to
pay to International, with interest, the "non-competition" payments he received,
as identified in paragraph 3 of the Complaint in the Illinois Action. The
"non-competition" payments (not including interest) for Atkinson total
$2,180,929. Atkinson also agrees to pay to International, with interest, the
Digital incentive compensation payments he received: he received $50,0000 on
August 11, 2000 and $100,000 on January 16, 2001, for a total of $150,000. The
applicable rate of interest is the U.S. federal rate at the time Atkinson
received each payment, compounded annually. The applicable rates are: (i) 6.33%
on the August 2000 payment (the first of the two Hollinger Digital Management
Incentive Plan payments); (ii) 6.01% on the November 2000 payments (the CanWest
payment and the first of the three U.S. Community newspaper payments); (iii)
5.61% on the January 2001 payment (the second of two Hollinger Digital
Management Incentive Plan payments); (iv) 5.07% on the February 2001 payment
(the second of the three U.S. Community newspaper payments) (v) 4.94% on the
April 2001 payment (the last of the three U.S. Community newspaper payments;
(vi) 4.07% on the July 2001 payment (the first of the two Osprey payments; and
(vii) 2.73% on the November 2001 payment (the second of the two Osprey
payments). The total amount to be paid by Atkinson including interest (as of
April 26, 2004) for the "non-competition" payments and the Hollinger Digital
Management Incentive Plan payments is $2,460,181.43. Atkinson has paid $350,000,
and the balance to be paid as of April 26, 2004 including interest is
$2,110,181.43 (the "Settlement Amount"). Atkinson will pay the Settlement Amount
into escrow by exercising stock options as provided in paragraph 2 below.

      2. Resignation and Exercise of Stock Options. Atkinson hereby resigns as
an officer of International as of April 27, 2004. Atkinson hereby confirms that
he is aware and that he has been advised that the United States securities laws
prohibit any person who has material non-public information about a company
from purchasing or selling securities of such company. Atkinson agrees that he
will not purchase or offer, sell, contract to sell, pledge, grant any option to
purchase, make any short sale or otherwise dispose of any such shares of common
stock of the Company, or any options or warrants to purchase any such shares of
stock of the Company, or any securities convertible into, exchangeable for or
that represent the right to receive such shares of common stock of the Company
while in possession of such information. Accordingly, International agrees to
allow Atkinson to exercise his vested stock options immediately upon his
resignation. Atkinson may exercise his vested options immediately upon his
resignation. If he elects to sell the resulting shares, he shall deposit all
proceeds of any such sale of stock resulting from the exercise of his vested
stock options into the Escrow Account. Atkinson agrees that a portion of the
proceeds equal to the Settlement Amount (plus all interest accrued thereon)
shall be released to International in satisfaction of Atkinson's obligations as
set forth in paragraph 1 of this Agreement. Upon satisfaction of such
obligations, International agrees that the remainder of those proceeds, if any,
shall revert to Atkinson. For purposes of this Agreement, "Escrow

                                       2
<PAGE>

Account" shall mean the account described in the Escrow Agreement, substantially
in the form attached hereto as Exhibit A, providing for the deposit of all
amounts due from Atkinson under the terms of this Agreement until Final
Approval. Upon Final Approval, the amounts will be wired to an account
designated by International, for International's unrestricted use. "Final
Approval" means the point at which the Final Order approving the Atkinson
Settlement becomes final and unappealable, whether by the passage of time,
affirmance on appeal or otherwise.

      3. Cooperation. Atkinson agrees to cooperate fully and actively with
International and in particular with the work of the SC as of the signing of
this Agreement. Atkinson agrees to make himself available to respond to
inquiries and provide information as reasonably requested by the SC, and agrees
to provide full and complete information as requested by the SC and as legally
permitted under applicable law. Atkinson and International further agree that
Atkinson will continue as a consultant to International pursuant to the terms of
a separate Consulting Agreement, in the form attached hereto as Exhibit B (the
"Consulting Agreement").

      4. Release and Settlement. Upon Final Approval, and payment in full of the
Settlement Amount, International and its agents, advisors, representatives,
affiliates, subsidiaries, divisions, officers, current and former directors,
shareholders, employees, attorneys, predecessors, successors and assigns do
hereby fully, finally and forever release Atkinson and any of his respective
agents, heirs, successors, assigns, survivors and executors from any and all
rights, interests, obligations, debts, dues, sums of money, accounts,
reckonings, damages, claims, actions, allegations, causes of action,
counterclaims or demands whatsoever, whether known or unknown, in law or in
equity, that have been or that could be asserted from the beginning of time
through the date hereof against Atkinson (the "Settled Claims") and Atkinson and
any of his respective agents, heirs, successors, assigns, survivors and
executors do hereby fully, finally and forever release International and its
agents, advisors, representatives, affiliates, subsidiaries, divisions,
officers, current and former directors, shareholders, employees, attorneys,
predecessors, successors and assigns from any and all rights, interests,
obligations, debts, dues, sums of money, accounts, reckonings, damages, claims,
actions, allegations, causes of action, counterclaims or demands whatsoever,
whether known or unknown, in law or in equity, that have been or that could be
asserted from the beginning of time through the date hereof against them. The
releases provided under this paragraph do not relate to any pending or future
securities class action suits and do not affect the rights of contribution and
indemnification the parties to this Agreement may have against each other in any
securities class action suits. The releases also do not release Atkinson or
International from their respective obligations under this Agreement or the
Consulting Agreement.

      5. Indemnification for Legal Expenses. International will advance monies
in accordance with Article 4.6 of the International's by-laws for reasonable
legal costs and expenses incurred by Atkinson in responding to the investigation
of the SC, regulatory investigations, and in defending litigation arising
therefrom. International also will reimburse Atkinson on the same basis for
reasonable legal costs and expenses incurred to date. Atkinson agrees to provide
International with details of legal costs and expenses incurred to date for
which reimbursement will be sought.

                                       3
<PAGE>

      6. Press Release. Any press release announcing this Agreement will be made
available to Atkinson for review and comment, but final approval on the contents
of the release will remain solely with International.

      7. Submission and Application to the Court. Atkinson acknowledges that
because he is a defendant in the Cardinal Action, this Agreement can only be
effective if approved by the Court. Atkinson further acknowledges that this
Agreement is one of a number of such agreements that may be entered into between
the SC, on behalf of International, and others (the "Settlements") and that the
SC, on International's behalf, intends to seek Court approval of the Settlements
as a single group to the extent necessary and appropriate. Therefore, as soon as
practicable after the execution of this Agreement and any other Settlements, and
the completion of the SC's investigation, the SC shall apply to the Delaware
Court of Chancery for a scheduling order (the "Scheduling Order") that shall
provide that:

            a.    a settlement hearing (the "Settlement Hearing") be held to
                  determine whether the Court should: (i) approve the
                  Settlements pursuant to the Chancery Court Rule 23.1 as fair,
                  reasonable, and adequate and in the best interests of
                  International's stockholders; and (ii) enter an Order and
                  Final Judgment dismissing Atkinson from the Cardinal Action
                  with prejudice, each party to bear its own costs and release
                  and enjoin prosecution against Atkinson of any and all Settled
                  Claims; and (iii) hear other such matters as the Court may
                  deem necessary and appropriate; and

            b.    a copy of the Notice of Hearing and Proposed Settlement of
                  Certain Defendants In Cardinal Value Equity Partners, L.P. v.
                  Black (the "Notice") shall be sent to all stockholders of
                  record of International as of the date of the Scheduling
                  Order, and further provide that the distribution of the Notice
                  substantially in the manner set forth in the Scheduling Order
                  constitutes the best notice practicable under the
                  circumstances, meets the requirements of applicable law and
                  due process, is due and sufficient notice of all matters
                  relating to the Settlements and fully satisfies the
                  requirements of due process and of Rule 23.1 of the Chancery
                  Court Rules.

      8. Notices. All costs incurred in identifying and notifying
International's stockholders of the Settlements, including the printing and the
copying of the Notice, as set forth in the Scheduling Order, will be paid by
International.

      9. Order and Final Judgment. If the Atkinson Settlement (including any
modification thereto made with the consent of International and Atkinson as
provided for herein) is approved by the Court, International and Atkinson shall
promptly request the Court to enter an Order and Final Judgment that will
automatically and without further action, among other things:

            a.    approve the Atkinson Settlement, adjudge the terms thereof to
                  be fair, reasonable, adequate and in the best interests of
                  International's stockholders, and direct consummation of the
                  Atkinson Settlement in accordance with the terms and
                  conditions of the Agreement;

                                       4
<PAGE>

            b.    determine that the requirements of Rule 23.1 of the Chancery
                  Court Rules and due process have been satisfied in connection
                  with the Notice to International's stockholders; and

            c.    dismiss Atkinson from the Cardinal Action with prejudice,
                  extinguish, discharge, and release, any and all Settled Claims
                  as against Atkinson, said dismissal subject only to compliance
                  by International and Atkinson with the terms of this Agreement
                  and any Order of the Court concerning this Agreement, and
                  permanently enjoin International from asserting, commencing,
                  prosecuting or continuing any of the Settled Claims.

      10. Right to Withdraw from the Atkinson Settlement. The parties hereto
shall have the right to withdraw from and terminate this Agreement as follows:

            a.    International and Atkinson shall each have the option to
                  withdraw from and terminate the Agreement (the "Termination
                  Option") in the event that (i) either the Scheduling Order or
                  Order and Final Judgment referred to above are not entered
                  substantially in the customary form for derivative settlements
                  in Delaware, or in some other form acceptable to International
                  and Atkinson, (ii) the Atkinson Settlement is not approved or
                  is materially modified by the Court or upon appeal, (iii) any
                  of the conditions of the Atkinson Settlement are not
                  fulfilled, including the SC's determination, in its sole
                  discretion, that Atkinson has failed to fulfill his
                  cooperation obligations as described in paragraph 3, above, or
                  (iv) application for the Scheduling Order shall not have been
                  made on or before October 31, 2004 (each of which shall
                  constitute a "Termination Event").

            b.    In order to exercise a Termination Option, the terminating
                  party must provide, within twelve business days of the
                  Termination Event giving rise to such Termination Option,
                  written notice of such withdrawal and the grounds therefor to
                  all signatories to this Agreement.

            c.    If a party exercises a Termination Option, the settlement
                  proposed herein shall be of no further force or effect, and
                  this Agreement and all negotiations, proceedings and
                  statements relating thereto and any amendment thereof shall be
                  null and void and without prejudice to any party hereto, and
                  each party shall be restored to his, her or its respective
                  position as it existed prior to the execution of this
                  Agreement, except that (i) Atkinson shall not revert to being
                  an employee or officer of the Company, and (ii) the Escrow
                  Agreement shall remain in place, but any funds residing in the
                  Escrow Account in excess of the Settlement Amount promptly
                  shall be released to Atkinson by wire transfer of immediately
                  available funds to an account designated by Atkinson. Atkinson
                  also agrees that the Statute of Limitations for all of the
                  Company's causes of actions and potential claims against
                  Atkinson is tolled during the period from the Settlement
                  Agreement's effective date until the effective date of any
                  termination of the Agreement.

                                       5
<PAGE>

      11. Governing Law; Choice of Forum; Jury Waiver. This Agreement and any
claim related directly or indirectly to this Agreement shall be governed and
construed in accordance with the laws of the State of Delaware, without regard
to the principles of conflicts of law thereof. All disputes arising out of or
relating to this Agreement or its breach shall be resolved in the courts located
within the State of Delaware, New Castle County, and Atkinson and International
hereby submit exclusively to the jurisdiction and venue of those Delaware
courts. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND
AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE ARISING
OUT OF THIS AGREEMENT.

      12. Counterparts. This Agreement may be signed in any number of
counterparts, all of which together shall constitute one and the same
instrument.

      13. Severability. If any provision of this Agreement is found to be
unenforceable in whole or in part, it shall be construed or limited in such a
way as to make it enforceable, consistent with the intentions of the parties. If
such construction or limitation is not possible, the unenforceable provision
will be stricken, and the remaining provisions of this Agreement will remain
valid and enforceable.

      14. Successors. This Agreement shall apply to Atkinson, as well as his
heirs, agents, executors, and administrators. The Agreement also shall apply to,
and inure to the benefit of, the predecessors, successors, and assigns of
International and each past, present, or future employee, agent, representative,
officer, partner, owner, or director of International and any division,
subsidiary, parent, or affiliated entity.

      15. Entire Agreement. This agreement contains the entire agreement between
Atkinson and International and supersedes and replaces all prior negotiations or
proposed agreements, whether written or oral. This Agreement may not be changed
or modified except in writing signed by both Atkinson and International. This
Agreement is made independent of and is entirely separate from the Consulting
Agreement, and the performance, termination or breach of the Consulting
Agreement shall in no way affect the parties' obligations under this Agreement.

      16. Knowledge and Understanding. Atkinson acknowledges that he has read
this Agreement and understands and acknowledges the significance and consequence
of it and executes it voluntarily with full understanding of its consequences.

Agreed to this 27th day of April, 2004 by:

HOLLINGER INTERNATIONAL, INC.                   PETER Y. ATKINSON

By: /s/ Robert T. Smith                         /s/ Peter Y. Atkinson
    ---------------------------                 ----------------------------

                                       6
<PAGE>

                  AMENDMENT TO RELEASE AND SETTLEMENT AGREEMENT

            THIS AMENDMENT (this "Amendment") is entered into as of May 10,
2004, by and between Hollinger International, Inc. ("International") and Peter
Y. Atkinson ("Atkinson"), and is made with reference to that certain Release and
Settlement Agreement entered into as of April 27, 2004 (the "Original
Agreement"). Capitalized terms used herein and not otherwise defined herein
shall have the meanings assigned to such terms in the Original Agreement.

                                    RECITALS

            WHEREAS, the parties have identified a numerical error in Section 1
of the Original Agreement, which sets forth the "Settlement Amount";

            WHEREAS, the parties desire to correct that numerical error to
comport with their understanding in the Original Agreement;

            NOW, THEREFORE, the parties agree as follows:

1. Section 1 of the Original Agreement is deleted in its entirety and replaced
by the following:

      1. Settlement Amount -- "Non-Competition" Payments and Hollinger Digital
Management Incentive Plan Payments in Full with Interest. Atkinson agrees to pay
to International, with interest, the "non-competition" payments he received. The
"non-competition" payments (not including interest) for Atkinson total
$2,170,433. Atkinson also agrees to pay to International, with interest, the
Digital incentive compensation payments he received: he received $50,000 on
August 11, 2000 and $100,000 on January 16, 2001, for a total of $150,000. The
applicable rate of interest is the U.S. federal rate at the time Atkinson
received each payment, compounded annually. The applicable rates are: (i) 6.33%
on the August 2000 payment (the first of the two Hollinger Digital Management
Incentive Plan payments); (ii) 6.01% on the November 2000 payments (the CanWest
payment and the first of the three U.S. Community newspaper payments); (iii)
5.61% on the January 2001 payment (the second of two Hollinger Digital
Management Incentive Plan payments); (iv) 5.07% on the February 2001 payment
(the second of the three U.S. Community newspaper payments); (v) 4.94% on the
April 2001 payment (the last of the three U.S. Community newspaper payments);
(vi) 4,07% on the July 2001 payment (the first of the two Osprey payments); and
(vii) 2.73% on the November 2001 payment (the second of the two Osprey
payments). The total amount to be paid by Atkinson including interest (as of
April 26, 2004) for the "non-competition" payments and the Hollinger Digital
Management Incentive Plan payments is $2,798,424.05. Atkinson has paid $350,000,
and the balance to be paid as of April 26, 2004 including interest is
$2,448,424.05 (the "Settlement Amount"). Atkinson agrees to pay, and has paid,
the Settlement Amount into escrow by exercising stock options as provided in
paragraph 2 below.

<PAGE>

2. This Amendment may be signed in any number of counterparts, all of which
together shall constitute one and the same instrument.

3. All other provisions of the Original Agreement remain fully in effect.

Agreed to this 10th day of May, 2004 by:

HOLLINGER INTERNATIONAL, INC.                 PETER Y. ATKINSON

By: /s/ Paul B. Healy                         /s/ Peter Y. Atkinson
    -------------------------------           -----------------------------

                                       2

<PAGE>

              SECOND AMENDMENT TO RELEASE AND SETTLEMENT AGREEMENT

            THIS SECOND AMENDMENT (the "Second Amendment") is entered into as of
October 29, 2004, by and between Hollinger International, Inc. ("International")
and Peter Y. Atkinson ("Atkinson"), and is made with reference to that certain
Release and Settlement Agreement entered into as of April 27, 2004 (the
"Original Agreement") and the Amendment to that certain Release and Settlement
Agreement entered into as of May 10, 2004 (the "Amendment"). Capitalized terms
used herein and not otherwise defined herein shall have the meanings assigned to
such terms in the Original Agreement.

                                    RECITALS

            WHEREAS, this Agreement is one of a number of such agreements that
may be entered into between the Special Committee (the "SC"), on behalf of
International, and others (the "Settlements") and that the SC, on
International's behalf, intends to seek Court approval of the Settlements as a
single group to the extent necessary and appropriate;

            WHEREAS, the parties desire to seek an extension of time for the SC
to apply to the Delaware Court of Chancery for the Scheduling Order;

            NOW, THEREFORE, the parties agree as follows:

1. Sub-Section (a) of Section 10 of the Original Agreement is amended by
changing the date of "October 31, 2004" in clause (iv) to "December 31, 2004."

2. This Second Amendment may be signed in any number of counterparts, all of
which together shall constitute one and the same instrument.

3. All other provisions of the Original Agreement and the Amendment remain fully
in effect.

Agreed to this 29th day of October, 2004 by:

HOLLINGER INTERNATIONAL, INC.                   PETER Y. ATKINSON

By: /s/ James R. Van Horn                       /s/ Peter Y. Atkinson
    ---------------------------------           --------------------------
    JAMES R. VAN HORN
    V.P., GENERAL COUNSEL & SECRETARY

<PAGE>

             THIRD AMENDMENT TO RELEASE AND SETTLEMENT AGREEMENT

        THIS THIRD AMENDMENT (the "Third Amendment") is entered into as of
December 30, 2004, by and between Hollinger International Inc.
("International") and Peter Y. Atkinson ("Atkinson"), and is made with
reference to the Release and Settlement Agreement dated April 27, 2004 (the
"Original Agreement"), the Amendment and the Second Amendment.  The Original
Agreement, the Amendment, the Second Amendment and the Third Amendment are
collectively referred to herein as the "Agreement".  Capitalized terms used
herein and not otherwise defined herein shall have the meanings assigned to
such terms in the Original Agreement, the Amendment and the Second Amendment.

                                   RECITALS

        WHEREAS, the parties agree that they need additional time to continue
their discussions regarding the language of the Agreement to more appropriately
reflect their intent, to facilitate its aproval by the Court, and to adequately
protect the interests of both parties,

        NOW, THEREFORE, for and in consideration of the mutual representations,
warranties, covenants and agreements contained in the Agreement, and intending
to be legally bound hereby, the parties agree as follows:

1.   Sub-Section (a) of Section 10 of the Original Agreement is further amended
by changing the date of "October 31, 2004" in clause (iv) (which had
previously been amended to December 31, 2004 by the Second Amendment) to
"January 15, 2005."

2.   The parties agree that this extension is in furtherance of the
considerations described above and is without prejudice to the parties'
respective rights and that the parties reserve all their respective rights.

3.   This Third Amendment may be signed in any number of counterparts, all of
which together shall constitute one and the same instrument.

Agreed to this 30th day of December, 2004 by:

HOLLINGER INTERNATIONAL INC.                    PETER Y. ATKINSON

By: /s/ James R. Van Horn/KLS                   /s/ Peter Y. Atkinson
    -------------------------                   ---------------------
    James R. Van Horn
    V.P., General Counsel & Secretary

<PAGE>

              FOURTH AMENDMENT TO RELEASE AND SETTLEMENT AGREEMENT

     THIS FOURTH AMENDMENT (the "Fourth Amendment") is entered into as of
January 14, 2005, by and between Hollinger International Inc. ("International")
and Peter Y. Atkinson ("Atkinson"), and is made with reference to the Original
Agreement, the Amendment, the Second Amendment, and the Third Amendment. The
Original Agreement, the Amendment, the Second Amendment, the Third Amendment and
the Fourth Amendment are referred to herein collectively as the "Agreement."
Capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned to such terms in the Agreement.

                                 R E C I T A L S

     WHEREAS, the parties have concluded their discussions regarding the
language of the Agreement to more appropriately reflect their intent to
facilitate its approval by the Court and to adequately protect the interests of
both parties;

     WHEREAS, this Agreement is one of a number of Settlements that may be
entered into between the SC, on behalf of International, and others, and that
the SC, on International's behalf, intends to seek Court approval of the
Settlements as a single group to the extent necessary and appropriate and the
parties thus desire to seek an extension of time for the SC to apply to the
Delaware Court of Chancery for the Scheduling Order;

     NOW, THEREFORE, for and in consideration of the mutual representations,
warranties, covenants and agreements contained in the Agreement, and intending
to be legally bound hereby, subject to the approval of the Court as described in
the Original Agreement, the parties agree as follows:

1. The following WHEREAS clause in the Original Agreement is deleted in its
entirety:

     WHEREAS, Atkinson wishes to settle and finally resolve all actual or
potential claims arising out of or relating to the matters that have been or may
be asserted against him in the Cardinal Action and the Illinois Action;

     and replaced by the following:

     WHEREAS, Atkinson wishes to settle and finally resolve all actual or
potential claims arising out of or relating to the matters that have been or may
be asserted against him by International and its subsidiaries in the Cardinal
Action and the Illinois Action;

2. The following WHEREAS clause in the Original Agreement is deleted in its
entirety:

     WHEREAS, Atkinson has agreed to enter into the Agreement to resolve any
potential liability in connection with the Cardinal Action and the Illinois
Action, and to reduce further expense, inconvenience and the distraction of
burdensome and protracted litigation;

<PAGE>

     and replaced by the following:

     WHEREAS, Atkinson has agreed to enter into the Agreement to resolve any
potential liability to International and its subsidiaries in connection with the
Cardinal Action and the Illinois Action, and to reduce further expense,
inconvenience and the distraction of burdensome and protracted litigation.

3. Section 4 of the Original Agreement is deleted in its entirety and replaced
by the following:

          4. Release and Settlement.

     a. Upon Final Approval, and payment in full of the Settlement Amount,
International and its subsidiaries do hereby fully, finally and forever release
Atkinson and any and all of his personal agents, spouses, heirs, survivors and
executors (collectively with Atkinson, the "Atkinson Releasees") from any and
all rights, interests, obligations, debts, dues, sums of money, accounts,
reckonings, damages, claims, actions, allegations, causes of action,
counterclaims or demands whatsoever, whether known or unknown, in law or in
equity, that have been or that could be asserted, relating to the subject matter
of the Cardinal Action, the Illinois Action and/or the Report of Investigation
by the Special Committee of the Board of Directors of Hollinger International
Inc. dated August 30, 2004 (the "SC Report") against any of the Atkinson
Releasees (the "Settled Claims"); and Atkinson and any and all of his personal
agents, spouses, heirs, survivors and executors do hereby fully, finally and
forever release International and any and all of its predecessors, successors,
assigns, affiliates, subsidiaries, divisions, and its current and former
officers, directors, shareholders, employees, attorneys, agents, advisors, and
representatives (collectively with International, the "International Releasees")
from any and all rights, interests, obligations, debts, dues, sums of money,
accounts, reckonings, damages, claims, actions, allegations, causes of action,
counterclaims or demands whatsoever, whether known or unknown, in law or in
equity, that have been or that could be asserted, relating to the subject matter
of the Cardinal Action, the Illinois Action and/or the SC Report against any of
the International Releasees.

     b. The International Releasees do not include Hollinger Inc., The Ravelston
Corporation Limited, Ravelston Management Inc., Conrad M. Black, F. David
Radler, John A. Boultbee, Daniel W. Colson, Barbara Amiel Black, and Richard
Perle, who are the defendants named in the Second Amended Complaint filed on
October 29, 2004 in the Illinois Action (the "Illinois Action Defendants").

     c. Notwithstanding any other section or sub-section in this Agreement, Mark
S. Kipnis ("Kipnis") is included as a member of the International Releasees only
under the condition that that Atkinson Releasees are not, and do not become, the
subject of any claim of any nature asserted by Kipnis and/or his spouses, heirs,
survivors, or executors, including but not limited to a cross-claim or
counterclaim, relating to the subject matter of the Cardinal Action, the
Illinois Action and the SC Report (a "Kipnis Claim"). Should any of the Atkinson
Releasees become the subject of any Kipnis Claim, then the release being
provided by the Atkinson Releasees hereunder is void solely to the extent of any
counterclaims the Atkinson Releasees have against

                                       2

<PAGE>

Kipnis, but only up to the amount of any recovery Kipnis obtains from the
Atkinson Releasees (excluding any Atkinson unreimbursed attorneys' fees).

     d. Notwithstanding any other section or sub-section in this Agreement, Todd
A. Vogt ("Vogt") is included as a member of the International Releasees only
under the condition that that Atkinson Releasees are not, and do not become, the
subject of any claim of any nature asserted by Vogt and/or his spouses, heirs,
survivors, or executors, including but not limited to a cross-claim or
counterclaim, relating to the subject matter of the Cardinal Action, the
Illinois Action and the SC Report (a "Vogt Claim"). Should any of the Atkinson
Releasees become the subject of any Vogt Claim, then the release being provided
by the Atkinson Releasees hereunder is void solely to the extent of any
counterclaims the Atkinson Releasees have against Vogt, but only up to the
amount of any recovery Vogt obtains from the Atkinson Releasees (excluding any
Atkinson unreimbursed attorneys' fees).

     e. The releases provided under this Section 4 also do not relate to any
pending or future securities class action suits and do not affect the rights of
contribution and indemnification the parties to this Agreement may have against
each other in any securities class action suits. The releases also do not
release Atkinson or International from their respective obligations under this
Agreement or the Consulting Agreement.

     f. In connection with any settlement between or among (i) International
and/or its subsidiaries and (ii) any former or current directors or officers of
International or any former or current directors or officers of International's
subsidiaries in respect of any claims of any nature relating to the subject
matter of the Cardinal Action, the Illinois Action, and/or the SC Report,
International and/or its subsidiaries shall use commercially reasonable efforts,
in good faith, to obtain a release of all claims of any nature that such
settling officer or director has or may thereafter have against the Atkinson
Releasees arising out of or relating to the subject matter of the Cardinal
Action, the Illinois Action and/or the SC Report.

     g. For purposes of further clarification, the words "personal agents" in
Section 4 and "agents" in Section 14 of the Agreement, as both of these sections
are amended herein, refer and apply only to Atkinson's personal agents,
including but not limited to his attorneys or accountants who represent him in
his personal capacity, and, notwithstanding the foregoing, do not release or
apply to other former or current officers, agents, attorneys, accountants,
directors, employees or affiliated companies of International, Hollinger Inc.,
or The Ravelston Corporation Limited, including without limitation the Illinois
Action Defendants. Similarly, the words "spouses," "heirs," "successors,"
"administrators" and "executors" in Sections 4 and 14 do not release or apply to
other former or current officers, agents, attorneys, accountants, directors,
employees or affiliated companies of International, Hollinger Inc., or The
Ravelston Corporation Limited, including without limitation the Illinois Action
Defendants.

4. Sub-section (a) of Section 7 is deleted in its entirety and replaced by the
following:

     a. a settlement hearing (the "Settlement Hearing") be held to determine
whether the Court should: (i) approve the Settlements pursuant to the Chancery
Court's Rule 23.1 as fair, reasonable, and adequate and in the best interests of
International's stockholders; and (ii) enter an Order and Final Judgment
dismissing Atkinson from the Cardinal Action with prejudice, each

                                       3

<PAGE>

party to bear its own costs and release and enjoin prosecution by International
and its subsidiaries against Atkinson of any and all Settled Claims; and (iii)
hear such other matters as the Court may deem necessary and appropriate; and

5. Sub-section (c) of Section 9 is deleted in its entirety and replaced by the
following:

     c. dismiss Atkinson from the Cardinal Action with prejudice; extinguish,
discharge and release, any and all Settled Claims as against Atkinson, said
dismissal subject only to compliance by International and Atkinson with the
terms of this Agreement and any Order of the Court concerning this Agreement;
and permanently enjoin International and its subsidiaries from asserting,
commencing, prosecuting or continuing any of the Settled Claims.

6. Sub-Section (a) of Section 10 of the Original Agreement is further amended by
changing the date of "January 15, 2005" in clause (iv) (which had previously
been amended to January 15, 2005 by the Third Amendment) to "March 31, 2005."

7. Section 11 is deleted in its entirety and replaced by the following:

     11. Governing Law; Choice of Forum; Jury Waiver. This Agreement and any
claim related directly to this Agreement shall be governed and construed in
accordance with the laws of the State of Delaware, without regard to the
principles of conflicts of law thereof. All disputes arising out or relating to
this Agreement or its breach shall be resolved in the courts located within the
State of Delaware, New Castle County, and Atkinson and International hereby
submit exclusively to the jurisdiction and venue of those Delaware courts. EACH
PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO
REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE ARISING OUT OF THIS
AGREEMENT.

8. Section 14 is deleted in its entirety and replaced by the following:

     14. Successors. This Agreement shall apply to Atkinson, as well as his
heirs, agents, executors, and administrators. Except as otherwise expressly
provided in this Agreement, the Agreement also shall apply to, and inure to the
benefit of, International and its subsidiaries and any successors of
International and its subsidiaries that International may designate.

9. [REDACTED]

                                       4

<PAGE>

10. This Fourth Amendment may be signed in any number of counterparts, all of
which together shall constitute one and the same instrument.

Agreed to this 14th day of January 2005 by:

HOLLINGER INTERNATIONAL INC.                            PETER Y. ATKINSON

By:/s/ James R. Van Horn                                /s/ Peter Y. Atkinson
   -------------------------                            ---------------------
   James R. Van Horn
   Vice President, General
   Counsel and Secretary
                                      5

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