Document:

EXECUTION COPY

                             LETTER AMENDMENT NO. 6

                                                   Dated as of October 26, 1999

To   the banks, financial institutions and other institutional lenders
     (collectively, the "LENDERS") parties to the Credit Agreement referred to
     below, to Citicorp USA, Inc., as administrative agent (the "ADMINISTRATIVE
     AGENT") for such Lenders and the other Secured Parties referred to therein,
     and to Salomon Smith Barney (formerly known as Citicorp Securities, Inc.),
     Chase Securities, Inc. and BankBoston, N.A. as Co-Arrangers for the
     Facilities referred to therein.

Ladies and Gentlemen:

     We refer to (a) the Second Amended and Restated Credit Agreement dated as
of October 28, 1997 (as amended by Letter Amendment No. 1 dated as of November
18, 1997, Letter Amendment No. 2 dated as of April 16, 1998, Amendment and
Waiver No. 3 to the Loan Documents dated as of June 29, 1998 and Amendment and
Waiver No. 4 to the Loan Documents dated as of May 26, 1999, the "CREDIT
AGREEMENT") among FCN Holding, Inc., a Delaware corporation ("FCN HOLDING"),
International Family Entertainment, Inc., a Delaware corporation ("IFE"), Saban
Entertainment, Inc., a Delaware corporation ("SABAN"), Fox Family Properties,
Inc., a Delaware corporation ("FOX PROPERTIES"), Fox Family Management, LLC, a
Delaware limited liability company ("FOX MANAGEMENT" and, together with FCN
Holding, IFE, Saban and Fox Properties, the "BORROWERS"), Fox Kids Holdings,
LLC, a Delaware limited liability company ("HOLDINGS"), as Guarantor and you and
(b) Amendment and Waiver No. 5 dated as of October 26, 1999 to the Loan
Documents (the "AMENDMENT NO. 5"). Capitalized terms not otherwise defined in
this Letter Amendment have the same meanings as specified in the Credit
Agreement and Amendment No. 5.

     In connection with the European Subsidiaries Restructuring and the FKE
Equity Offering, we hereby request that the Lenders agree to further amend the
Credit Agreement in order to permit (a) the Borrowers and the Restricted
Subsidiaries to own less than 51% of the issued and outstanding Equity Interests
in Fox Kids Europe so long as the Borrowers and the Restricted Subsidiaries own
and continue to own at least 38% of the issued and outstanding Equity Interests
in Fox Kids Europe and (b) Fox Kids SPC1, Inc., a Subsidiary of Saban created as
part of the European Subsidiaries Restructuring that is (or will be on the
Restructuring Effective Date) a Restricted Subsidiary, to sell its Voting
Interests in FKE in the FKE Equity Offering to the extent required by the
exercise of the over-allotment option therefor so long as the Net Cash Proceeds
received therefrom are applied to reduce the Commitments and to prepay the
Advances outstanding at such time in accordance with, and to the extent required
under Sections 2.04 and 2.05, respectively, of the Credit Agreement.

     The Lenders have indicated their willingness to agree to amend the Credit
Agreement to permit the additional modifications described above on the terms
and conditions set forth below. Accordingly, it is hereby agreed that the Credit
Agreement is, effective upon the occurrence of the Restructuring Effective Date
and subject to the satisfaction of the conditions set forth below, amended as
follows:

<PAGE>

          (a) Section 1.01 of the Credit Agreement is amended to add immediately
     following the definition of "Solvent" the following new definition:

               "SPC1" means Fox Kids SPC1, Inc., a Delaware corporation and a
          wholly owned Subsidiary of Saban."

          (b) The definition of "CHANGE OF CONTROL" set forth in Section 1.01 of
     the Credit Agreement is amended (i) to delete the word "or" at the end of
     clause (f) thereof, (ii) to delete the punctuation "." at the end of clause
     (g) thereof and to substitute therefor the language "; or" and (iii) to add
     to the end of such definition the following new clause (h):

               "(h) Holdings and its Subsidiaries shall cease directly or
          indirectly to own and control legally and beneficially at least 51% of
          the issued and outstanding Equity Interests in FKE."

          (c) Section 5.02(b) of the Credit Agreement is amended to add the
     following new proviso clause at the end of subclause (iii)(C) thereof:

          "and, PROVIDED FURTHER, that all proceeds of such intercompany
          Indebtedness owing to SPC1 as a result of advances made by SPC1 to IFE
          pursuant to Section 5.02(f)(ix)(C) shall be (or shall have been)
          applied on the date of receipt thereof to reduce the Commitments in
          accordance with, and to the extent required under, Section 2.04(b)(iv)
          and to prepay the Advances outstanding at such time in accordance
          with, and to the extent required under, Section 2.05(b)".

          (d) Section 5.02(e) of the Credit Agreement is amended to replace the
     figure "51%" with the figure "38%" in each place in which such figure
     occurs in subclause (xiv) thereof.

          (e) Section 5.02(f) of the Credit Agreement is amended (i) to replace
     the figure "51%" with the figure "38%" in each place in which such figure
     occurs in subclause (ix) thereof, (ii) to add immediately following the
     language "FKE may issue and sell its ordinary shares in the FKE Equity
     Offering" in the first line of subclause (ix) thereof the new language ",
     and, if the underwriters of the FKE Equity Offering exercise the
     over-allotment option in the FKE Equity Offering, SPC1 may sell, to the
     extent required by such exercise of the over-allotment option, its Voting
     Interests in FKE", (iii) to insert the new subclause reference "(i)"
     immediately following the language "THIRD, all remaining Net Cash Proceeds
     so received by" in subclause (ix)(C) thereof, (iv) to insert immediately
     following the language "the terms of Section 5.02(b)(ii)(C)" the following
     new language:

          "and (ii) SPC1 shall be advanced to IFE on the terms and conditions of
          an Intercompany Note and immediately applied by IFE in accordance with
          the terms of Section 5.02(b)(iii)(C)", and

     (v) to replace the figure "51%" with the figure "38%" in each place in
     which such figure occurs in subclause (x)(C) thereof.

                                   EX-10.2 - 2
<PAGE>

          (f) Annex A to Amendment No. 5 is, effective as of the date of this
     Letter Amendment and subject to the satisfaction of the conditions set
     forth below, amended and restated in its entirety to read as set forth in
     Schedule I hereto.

     This Letter Amendment shall become effective as of the first date on which
each of the following conditions precedent shall have been satisfied:

          (a) The Administrative Agent shall have received counterparts of this
     Letter Amendment executed by the Required Lenders or, as to any of the
     Lenders, advice satisfactory to the Administrative Agent that such Lender
     has executed this Letter Amendment, and the consent attached hereto
     executed by each Loan Party (other than the Borrowers and Holdings).

          (b) The Restructuring Effective Date shall have occurred.

          (c) The Administrative Agent shall have received one or more
     agreements, dated on or prior to the Restructuring Effective Date and in
     form and substance reasonably satisfactory to the Required Lenders, duly
     executed by each of the Subsidiaries (other than the Restricted
     Subsidiaries) that owns or holds (or on the Restructuring Effective Date
     will own or hold) Equity Interests in Fox Kids Europe, under which such
     Subsidiary agrees that, if requested by the Administrative Agent, on behalf
     of the Secured Parties, in connection with the exercise of their rights and
     remedies under the Collateral Documents, it will sell or otherwise transfer
     its Equity Interests in Fox Kids Europe to the purchaser (or purchasers),
     and on the same terms and conditions as, the Equity Interests in Fox Kids
     Europe comprising part of the Collateral are being sold, transferred or
     otherwise disposed of at such time.

          (d) The representations and warranties set forth in each of the Loan
     Documents shall be correct in all material respects on and as of the date
     first above written and the effective date hereof, before and after giving
     effect to this Letter Amendment, as though made on and as of such date
     (except that the Consolidated financial statements of each of the Borrowers
     and its Subsidiaries and Fox Kids and its Subsidiaries referred to in
     Sections 4.01(f), 4.01(g), 4.01(h) and 4.01(i) of the Credit Agreement,
     respectively, shall be deemed to refer to the Consolidated financial
     statements of each such Borrower and its Subsidiaries and Fox Kids and its
     Subsidiaries most recently delivered to the Administrative Agent and the
     Lenders pursuant to Sections 5.03(b) and 5.03(c) of the Credit Agreement
     and Sections 7(i)(i) and 7(i)(ii) of the Fox Kids Guarantee, respectively,
     on or prior to the effective date hereof and (C) that the forecasted
     Consolidated financial statements of Fox Kids and its Subsidiaries referred
     to in Section 4.01(j) of the Credit Agreement shall be deemed to refer to
     the forecasted Consolidated financial statements of Fox Kids and its
     Subsidiaries most recently delivered to the Administrative Agent and the
     Lenders prior to the effective date hereof).

          (e) No event shall have occurred and be continuing, or shall result
     from the effectiveness of this Letter Amendment, that constitutes a
     Default.

     The Borrowers further agree to pay to the Administrative Agent, for the
account of each of the Lenders that has executed and delivered a counterpart of
this Letter Amendment to the Administrative Agent on or prior to November 5,
1999 (or advised the Administrative Agent in a manner satisfactory to it that
such Lender has executed this Letter Amendment on or prior to such date), an
amendment fee of 0.05% on the aggregate Commitments of such Lender, such
amendment fee to be payable on the earlier of the Offering Effective Date and
December 15, 1999.

                                   EX-10.2 - 3
<PAGE>

     This Letter Amendment is subject to the provisions of Section 9.01 of the
Credit Agreement.

     On and after the effectiveness of this Letter Amendment, each reference in
the Credit Agreement to "this Agreement", "hereunder", "hereof" or words of like
import referring to the Credit Agreement, and each reference in the Notes and
each of the other Loan Documents to "the Credit Agreement", "thereunder",
"thereof" or words of like import referring to the Credit Agreement, shall mean
and be a reference to the Credit Agreement, as amended by this Letter Amendment.

     The Credit Agreement, the Notes and each of the other Loan Documents, as
specifically amended by this Letter Amendment, are and shall continue to be in
full force and effect and are hereby in all respects ratified and confirmed.
Without limiting the generality of the foregoing, the Collateral Documents and
all of the Collateral described therein do and shall continue to secure the
payment of all Obligations of the Loan Parties under the Loan Documents, in each
case as amended by this Letter Amendment. The execution, delivery and
effectiveness of this Letter Amendment shall not, except as expressly provided
herein, operate as a waiver of any right, power or remedy of any Lender or any
Agent under any of the Loan Documents, nor constitute a waiver of any provision
of any of the Loan Documents.

     If you agree to the terms and provisions hereof, please evidence such
agreement by executing and returning at least one counterpart of this Letter
Amendment to the attention of Benjamin Cheng, Shearman & Sterling, 599 Lexington
Avenue, New York, NY 10022-6069, facsimile no. (212) 848-7179.

     This Letter Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so
executed shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement. Delivery of an executed counterpart of a
signature page to this Letter Amendment by telecopier shall be effective as
delivery of a manually executed counterpart of this Letter Amendment.

                                   EX-10.2 - 4
<PAGE>

     This Letter Amendment shall be governed by, and construed in accordance
with, the laws of the State of New York excluding (to the fullest extent a New
York court would permit) any rule of law that would cause application of the
laws of any jurisdiction other than the State of New York.

                                        Very truly yours,

                                        FCN HOLDING, INC., as Borrower

                                        By  /S/ MEL WOODS
                                            -----------------------------------
                                           Name:
                                           Title:

                                        INTERNATIONAL FAMILY
                                        ENTERTAINMENT, INC., as Borrower

                                        By  /S/ MEL WOODS
                                            -----------------------------------
                                           Name:
                                           Title:

                                        SABAN ENTERTAINMENT, INC., as Borrower

                                        By  /S/ JACQUELINE GOLD GRUNFELD
                                            -----------------------------------
                                           Name: Jacqueline Gold Grunfeld
                                           Title: Secretary

                                        FOX FAMILY MANAGEMENT, LLC

                                        By  /S/ HAIM SABAN
                                            -----------------------------------
                                             Haim Saban, as its Manager

                                        FOX FAMILY PROPERTIES, INC.

                                        By  /S/ MEL WOODS
                                            -----------------------------------
                                           Name:
                                           Title:

                                   EX-10.2 - 5
<PAGE>

                                        FOX FAMILY WORLDWIDE, INC.

                                        By  /S/ MEL WOODS
                                           ------------------------
                                           Name:
                                           Title:

                                        FOX KIDS HOLDINGS, LLC

                                        By  Fox Family Worldwide, Inc.
                                             as its Managing Member

                                        By  /S/ MEL WOODS
                                           ------------------------
                                           Name:
                                           Title:

                                   EX-10.2 - 6
<PAGE>

Agreed by each of the following Lenders as of the date first above written:

THE AGENTS AND THE LENDERS

CITICORP USA, INC., as Agent and as Lender

By  /S/ ELIZABETH H. MINNELLA
    --------------------------------
    Name: Elizabeth H. Minnella
    Title: Vice-President

SALOMON SMITH BARNEY INC., as Agent

By  /S/ WILLIAM L. HARTMANN
   --------------------------------
    Name:  William L. Hartmann
    Title: Attorney-in-Fact

BANKBOSTON, N.A., as Agent and as Lender

By  /S/ ROBERT F. MILORDI
   --------------------------------
    Name:  Robert F. Milordi
    Title: Managing Director

THE CHASE MANHATTAN BANK, as Lender

By  /S/ JOAN M. FITZGIBBON
   --------------------------------
    Name:  Joan M. Fitzgibbon
    Title: Managing Director

CHASE SECURITIES, INC., as Agent

By  /S/ JOHN P. HALTMEIER
   --------------------------------
    Name:  John P. Haltmeier
    Title: Vice President

                                   EX-10.2 - 7
<PAGE>

BANK OF AMERICA, N.A., as Lender

By  /S/ SEAN W. CASSIDY
   --------------------------------
    Name:  Sean W. Cassidy
    Title: Vice President

THE BANK OF NOVA SCOTIA, as Lender

By  /S/ IAN A. HODGART
   ---------------------------------
    Name:  Ian A. Hodgart
    Title: Authorized Signatory

FLEET BANK, N.A., as Lender

By  /S/ TANYA CROSSLEY
   ---------------------------------
    Name:  Tanya Crossley
    Title: Vice President

THE INDUSTRIAL BANK OF JAPAN
LIMITED, LOS ANGELES AGENCY, as Lender

By  /S/ CARL-ERIC BENZINGER
   ---------------------------------
    Name:  Carl-Eric Benzinger
    Title: Senior Vice President

TORONTO-DOMINION (TEXAS), INC., as Lender

By  /S/ CAROL BRANDT
   ----------------------------------
    Name:  Carol Brandt
    Title: Vice President

SOCIETE GENERALE, NEW YORK BRANCH,
as Co-Agent and as Lender

By  /S/ ELAINE KHALIL
   -----------------------------------
    Name:  Elaine Khalil
    Title: Vice President

                                   EX-10.2 - 8
<PAGE>

THE BANK OF NEW YORK, as Lender

By  /S/ STEPHEN M. NETTLER
   -----------------------------------
    Name:  Stephen M. Nettler
    Title: AVP

BANQUE NATIONALE DE PARIS, as Lender

By  /S/ NUALA MARLEY
   -----------------------------------
    Name:  Nuala Marley
    Title: Vice President

By  /S/ BONNIE G. EISENSTAT
   -----------------------------------
    Name:  Bonnie G. Eisenstat
    Title: Vice President

THE MITSUBISHI TRUST AND BANKING
CORPORATION, LOS ANGELES AGENCY, as Lender

By  /S/ BEATRICE E. KOSSODO
   -----------------------------------
    Name:  Beatrice E. Kossodo
    Title: Senior Vice President

THE SUMITOMO BANK, LIMITED, as Lender

By
   -----------------------------------
    Name:
    Title:

CRESTAR BANK, as Lender

By  /S/ THOMAS C. KING
   ------------------------------------
    Name:  Thomas C. King
    Title: Assistant Vice President

                                   EX-10.2 - 9
<PAGE>

THE DAI-ICHI KANGYO BANK, LIMITED,
as Lender

By  /S/ THOMAS CHA
   -----------------------------------
    Name:  Thomas Cha
    Title: Account Officer

MORGAN GUARANTY TRUST COMPANY
OF NEW YORK, as Lender

By  /S/ WILLIAM IMGRASSIN
   -----------------------------------
    Name:  William Imgrassin
    Title: Vice President

GENERAL ELECTRIC CAPITAL CORPORATION,
as Lender

By  /S/ ROBERT M. KADLICK
   -----------------------------------
    Name:  Robert M. Kadlick
    Title: Duly Authorized Signatory

FIRST HAWAIIAN BANK, as Lender

By
   -----------------------------------
    Name:
    Title:

ISRAEL DISCOUNT BANK LIMITED,
LOS ANGELES AGENCY., as Lender

By  /S/ HIEU T. NGUYEN
   ------------------------------------
    Name:  Hieu T. Nguyen
    Title: Vice President

                                  EX-10.2 - 10
<PAGE>

                                     CONSENT

     Reference is made to (a) Letter Amendment No. 6 dated as of October 26,
1999 (the "LETTER AMENDMENT"; capitalized terms not otherwise defined herein
being used herein as defined in the Letter Amendment and in the Credit Agreement
referred to therein), (b) the Second Amended and Restated Credit Agreement dated
as of October 28, 1997 (as amended by Letter Amendment No. 1 dated as of
November 18, 1997, Letter Amendment No. 2 dated as of April 16, 1998, Amendment
and Waiver No. 3 to the Loan Documents dated as of June 29, 1998, Amendment and
Waiver No. 4 dated as of May 26, 1999, the "CREDIT AGREEMENT") among FCN
Holding, Inc., International Family Entertainment, Inc., Saban Entertainment,
Inc., Fox Family Properties, Inc. and Fox Family Management, LLC (collectively,
the "BORROWERS"), Fox Kids Holdings, LLC, a Delaware limited liability company
("HOLDINGS"), as Guarantor, the banks, financial institutions and other
institutional lenders (collectively, the "LENDERS") party to the Credit
Agreement, Citicorp USA, Inc., as administrative agent (the "ADMINISTRATIVE
AGENT") for such Lenders and the other Secured Parties referred to therein, and
Salomon Smith Barney Inc. (formerly known as Citicorp Securities, Inc.), Chase
Securities, Inc. and BankBoston, N.A., as Co-Arrangers for the Facilities
referred to therein, and (c) the other Loan Documents referred to therein.

     Each of the undersigned, in its capacity as (a) a Guarantor under the
Second Amended and Restated Subsidiaries Guarantee dated October 28, 1997 (the
"SUBSIDIARIES GUARANTEE") in favor of the Secured Parties referred to therein
and a Pledgor under the Pledge and Assignment Agreement and/or (b) a Pledgor
under the Pledge and Assignment Agreement and/or under one or more of the
following Agreements, (i) the Amended and Restated Memorandum of Deposit of
Shares of Equity Interests dated October 28, 1997 (the "U.K./SABAN U.K. PLEDGE
AGREEMENT") between Saban and the Administrative Agent, (ii) the Amended and
Restated Memorandum of Deposit of Shares of Equity Interests dated October 28,
1997 (the "U.K./FKE PLEDGE AGREEMENT"), among FKE Holdings, Fox Kids Network
Europe Holdings, Inc. and the Administrative Agent, (iii) the Deeds of Pledge
dated September 4, 1997 and June 24, 1998 (collectively, the "NETHERLANDS PLEDGE
AGREEMENT"), among FKE Holdings, T.V. 10 and the Administrative Agent, (iv) the
Amended and Restated Pledge Agreement of Shares dated September 4, 1997 (the
"NETHERLANDS ANTILLES PLEDGE AGREEMENT"), among Saban, SINV and the
Administrative Agent, (v) the Pledge Agreement dated September 4, 1997 (the
"GERMAN PLEDGE AGREEMENT") among Saban and the Administrative Agent, (vi) the
Deed of Pledge of Shares dated September 4, 1997 (the "FRENCH/FOX KIDS PLEDGE
AGREEMENT"), among FKE Holdings, Fox Kids Network, Fox Kids France SARL and the
Administrative Agent and (vii) the Deed of Pledge of Shares dated September 4,
1997 (together with the U.K./Saban U.K. Pledge Agreement, the U.K./FKE Pledge
Agreement, the Netherlands Pledge Agreement, the Netherlands Antilles Pledge
Agreement, the German Pledge Agreement and the French/Fox Kids Pledge Agreement,
the "FOREIGN SUBSIDIARY PLEDGE AGREEMENTS"), among Saban, Saban International
Paris SARL and the Administrative Agent, hereby consents to the execution,
delivery and performance of the Letter Amendment and agrees that:

          (A) each of the Subsidiaries Guarantee, the Pledge and Assignment
     Agreement, the Foreign Subsidiary Pledge Agreements and the other
     Collateral Documents to which it is a party is, and shall continue to be,
     in full force and effect and is hereby in all respects ratified and
     confirmed on the effective of the Letter Amendment, except that, on and
     after such effective date each reference to "THE CREDIT AGREEMENT",
     "THEREUNDER", "THEREOF", "THEREIN" or words of like import referring to the
     Credit Agreement shall mean and be a reference to the Credit Agreement, as
     amended and otherwise modified by the Letter Amendment; and

                                  EX-10.2 - 11
<PAGE>

          (B) as of the effective date of the Letter Amendment, the Pledge and
     Assignment Agreement and the Foreign Subsidiary Pledge Agreements to which
     it is a party and all of the Collateral of such Person described therein
     do, and shall continue to, secure the payment of all of the Secured
     Obligations.

     This Consent shall be governed by, and construed in accordance with, the
laws of the State of New York, excluding (to the fullest extent a New York court
would permit) any rule of law that would cause application of the laws of any
jurisdiction other than the State of New York.

     Delivery of an executed counterpart of a signature page of this Consent by
telecopier shall be effective as the delivery of a manually executed counterpart
of this Consent.

                                        ANGEL GROVE PRODUCTIONS, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        BUGBOY PRODUCTIONS, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        CYBERPROD, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        FOX KIDS EUROPE HOLDINGS, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        ERIK PRODUCTIONS

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                  EX-10.2 - 12
<PAGE>

                                        FOX KIDS (LATIN AMERICA), INC.

                                        By  /S/ MEL WOODS
                                           ---------------------------
                                           Name:  Mel Woods
                                           Title:

                                        FOX KIDS WORLDWIDE, L.L.C.

                                        By  Fox Kids Holdings, LLC,
                                             as Managing Member

                                        By  Fox Family Worldwide, Inc.,
                                             as Managing Member

                                        By  /S/ MEL WOODS
                                           ---------------------------
                                           Name:  Mel Woods
                                           Title:

                                        IAN PRODUCTIONS, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        INTERPROD, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                  EX-10.2 - 13
<PAGE>

                                        KIDS ROCK, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        LAUREL WAY PRODUCTIONS, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        MMPR PRODUCTIONS, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        POCKET PRODUCTIONS, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        SABAN DOMESTIC SERVICES, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        SABAN FOODS, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                  EX-10.2 - 14
<PAGE>

                                        SABAN INTERNATIONAL SERVICES, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        SABAN MERCHANDISING, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        SABAN/SCHERICK PRODUCTIONS, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        SANDSCAPE, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        TEEN DREAM PRODUCTIONS, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                        MELVILLE PRODUCTIONS, INC.

                                        By  /S/ TONY HOWE
                                           ---------------------------
                                           Name:  Tony Howe
                                           Title: Vice President

                                  EX-10.2 - 15
<PAGE>

                                        FCNH SUB, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                        FOX CHILDREN'S PRODUCTIONS, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                        FOX CHILDREN'S NETWORK, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                        STORYMAKERS, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                        FOX KID'S MUSIC, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                        FOX CHILDREN'S MUSIC, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                  EX-10.2 - 16
<PAGE>

                                        FAMILY CHANNEL PICTURES, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                        FAMILY DEVELOPMENT CORP.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                        FAMILY GAME SHOWS, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                        GAME TV, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                        GILMORE ACQUISITION CORP.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         HOME PRODUCTIONS, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                  EX-10.2 - 17
<PAGE>

                                         IFE CHINA, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         IFE DIRECT MARKETING, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         IFE JAKE ACQUISITION CORP.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         IFE LATIN AMERICA, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         LYNNHAVEN ACQUISITION CORP.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         MOBILINK PARTNERS, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                  EX-10.2 - 18
<PAGE>

                                         MTM ACQUISITION COMPANY, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         MTM ENTERPRISES, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         MTM ENTERTAINMENT, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         MTM HOLDING COMPANY, INC.

                                        By /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         PRETENDER PRODUCTIONS, INC.

                                        By /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         UNITED STATES FAMILY
                                            ENTERTAINMENT, INC.

                                        By /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                  EX-10.2 - 19
<PAGE>

                                         RED CHECK, INC.

                                        By /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         PLAZA PICTURES, INC.

                                        By /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         PAPER GARDENS, INC.

                                        By /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         WEBSTER PARK, INC.

                                        By /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         APRIL PARK, INC.

                                        By /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         FAMILY SATELLITE BROADCASTING
                                           SERVICES, INC.

                                        By /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                  EX-10.2 - 20
<PAGE>

                                         F.F.P. WEST, L.L.C.

                                         By  Mel Woods, as its Manager

                                              /S/ MEL WOODS
                                              -------------------------

                                         FIRST PAPER, INC.

                                         By  /S/ MEL WOODS
                                            ----------------------------
                                            Name:  Mel Woods
                                            Title: President

                                         FOX FAMILY MUSIC, L.L.C.

                                         By  Mel Woods, as its Manager

                                              /S/ MEL WOODS
                                              --------------------------

                                         FOX FAMILY MUSIC, INC.

                                         By  /S/ TONY HOWE
                                             -----------------------------
                                             Name:  Tony Howe
                                             Title: Vice President

                                         FOX FAMILY POST PRODUCTION, INC.

                                         By  /S/ TONY HOWE
                                             -----------------------------
                                             Name:  Tony Howe
                                             Title: Vice President

                                         FOX FAMILY POST PRODUCTION, L.L.C.

                                         By  Mel Woods, as its Manager

                                              /S/ MEL WOODS
                                              --------------------------

                                  EX-10.2 - 21
<PAGE>

                                         FOX FAMILY RECORDING ARTISTS, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         HOPSCOTCH PRODUCTIONS, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         MONUMENT PRODUCTIONS, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         KID GUMBO PRODUCTIONS, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                  EX-10.2 - 22
<PAGE>

                                         FOX KIDS TOURING, L.L.C.

                                         By Mel Woods, as its Manager

                                             /S/ MEL WOODS
                                             ---------------------------

                                         FOXKIDS.COM, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                  EX-10.2 - 23
<PAGE>

                                         FOX LATIN PRODUCTIONS, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         CABLE HEALTH TV, INC.

                                        By  /S/ MEL WOODS
                                           ----------------------------
                                           Name:
                                           Title:

                                         FOX KIDS EUROPE LIMITED

                                         By
                                            Name:
                                            Title:

                                         FOX KIDS SPC1, INC.

                                         By  /S/ TONY HOWE
                                             -----------------------------
                                             Name:  Tony Howe
                                             Title: Vice President

                                         FOX KIDS SPC2, INC.

                                         By  /S/ TONY HOWE
                                             -----------------------------
                                             Name:  Tony Howe
                                             Title: Vice President

                                  EX-10.2 - 24FIRST AMENDMENT TO SUBSCRIPTION AGREEMENT

         This First Amendment to Subscription Agreement (the "AMENDMENT"), dated
as of November __, 1999, is entered into by and among Fox Broadcasting Company,
a Delaware corporation (the "PURCHASER"), Fox Kids Europe Holdings, Inc., a
California corporation (the "COMPANY"), and Fox Kids Europe, B.V., a BESLOTEN
VENNOOTSCHAP, on the following terms and conditions:

                                 R E C I T A L S

         WHEREAS, the Purchaser and the Company are parties to that certain
Subscription Agreement (the "Agreement"; capitalized terms used herein without
definition have the meanings given those terms in the Agreement) dated as of
June 28, 1999, pursuant to the terms of which the Purchaser agreed to purchase,
and the Company agreed to issue and sell, the Shares, and pursuant to the terms
of which the Purchaser is entitled to participate in any IPO or Private Sale as
a selling shareholder;

         WHEREAS, the Company desires to enter into a series of transactions
(the "Fox Kids Europe Transactions"), pursuant to the terms of which the Company
will, concurrently herewith, directly or indirectly, contribute all of its
assets to Fox Kids Europe B.V. (which intends immediately thereafter to convert
from a BESLOTEN VENNOOTSCHAP to a NAAMLOZE VENNOOTSCHAP, whereupon its name will
be Fox Kids Europe N.V.) ("FKE"), in exchange for a majority of the ordinary
shares of Fox Kids Europe B.V.;

         WHEREAS, FKE intends to sell a number of its ordinary shares in the
United States to qualified institutional buyers in reliance on Rule 144A under
the Securities Act of 1933, as amended (the "Securities Act") and outside the
United States in reliance on Regulation S under the Securities Act (the
"Offering") immediately after the consummation of the Fox Kids Europe
Transactions;

         WHEREAS, the Company desires to deliver to the Purchaser ordinary
shares of FKE in substitution for the Shares, and to cause FKE to cooperate with
the Purchaser to enable the Purchaser to participate in the Offering of the
ordinary shares of FKE as a selling shareholder, all in satisfaction of the
Company's obligations under the Agreement to deliver the Shares to the Purchaser
and to allow the Purchaser to participate in any IPO as a selling shareholder;

         WHEREAS, the Purchaser is willing, on the terms set forth in this
Amendment, to accept delivery of ordinary shares of FKE in substitution for the
Shares, and to participate in the Offering of the ordinary shares of FKE as a
selling shareholder, all in satisfaction of its rights under the Agreement to
purchase the Shares and to participate in any IPO as a selling shareholder;

         NOW, THEREFORE, in consideration of the premises and for other good and
valuable consideration given to each party hereto, the receipt, value and
sufficiency of which are hereby acknowledged, the parties agree as follows.

<PAGE>

         AMENDMENT. The Agreement is hereby amended as follows:

         1.1.  The introductory sentence of the Agreement is amended to read as
follows:

                    This Subscription Agreement (the "Agreement"), dated as of
                    June 28, 1999, is entered into by and among Fox Broadcasting
                    Company, a Delaware corporation (the "Purchaser"), Fox Kids
                    Europe Holdings, Inc., a California corporation (the
                    "Company"), and Fox Kids Europe B.V. on the following terms
                    and conditions:

                    The recitals are amended to read in full as follows:

                         "WHEREAS, the Company has entered into a series of
                    transactions (the "Fox Kids Europe Transactions"), pursuant
                    to the terms of which the Company has, concurrently with the
                    execution and delivery of the First Amendment, directly or
                    indirectly, contributed all of its assets (other than the
                    equity interests in Fox Kids SPC1, Inc., a Delaware
                    corporation ("SPC1"), and the equity interests in Fox Kids
                    SPC2, Inc., a California corporation ("SPC2") to Fox Kids
                    Europe B.V., in exchange for a majority of the ordinary
                    shares (the "COMMON STOCK") of Fox Kids Europe B.V.;

                         "WHEREAS, Fox Kids Europe B.V., which immediately after
                    the issuance of its Common Stock intends to convert from a
                    BESLOTEN VENNOOTSCHAP to a NAAMLOZE VENNOOTSCHAP, whereupon
                    its name will be Fox Kids Europe N.V.) ("FKE"), intends to
                    make an offering (the "IPO") of shares of the Common Stock
                    immediately after the consummation of the Fox Kids Europe
                    Transactions;

                         "WHEREAS, on the terms and subject to the conditions
                    set forth in this Agreement, the Purchaser desires to
                    purchase, and the Company desires to sell to the Purchaser,
                    shares (`Shares') of the Common Stock;

                         "WHEREAS, on the terms and subject to the conditions
                    set forth in this Agreement, the Purchaser desires to
                    participate in the IPO or any private sale to an
                    unaffiliated third-party purchaser of shares of the Common
                    Stock to be issued in connection with such sale (a "PRIVATE
                    Sale"), as applicable, and, subject to the conditions set
                    forth herein, thereafter to participate in any subsequent
                    public offerings (each a "SUBSEQUENT PUBLIC OFFERING") and
                    any subsequent private sales (each a "SUBSEQUENT PRIVATE
                    SALE"), and the Company is willing to cause FKE to cooperate
                    in the Purchaser's participating in the IPO or any Private
                    Sale and, subject to the conditions set forth herein, any
                    Subsequent Public Offerings and any Subsequent Private
                    Sales, as an inducement to the Purchaser to enter into the
                    First Amendment;".

                                   EX-10.3 - 2
<PAGE>

         1.2.  The definition of "Class B Stock" is deleted and Sections 1.5
through 1.8 are renumbered as Sections 1.4 through 1.7, respectively.

         1.3.  The following definition is added as Section 1.8:

     "1.8 'FIRST AMENDMENT' means that certain First Amendment to Subscription
Agreement between the Purchaser and the Company dated as of November __, 1999."

         1.4.  The definition of "HSR Act" is deleted and Sections 1.11 through
1.14 are renumbered as Sections 1.10 through 1.13, respectively.

         1.5.  The following definition is added as Section 1.14:

     "1.14 'OFFERING CIRCULAR' means that certain Fox Kids Europe N.V.
Preliminary Offering Circular dated November 3, 1999 for Ordinary Shares of FKE
and, when issued, the final Offering Circular for Ordinary Shares of FKE."

         1.6.  Section 2 is amended to read in full as follows:

                    "2. PURCHASE AND SALE OF THE SHARES OF COMMON STOCK. The
               Company hereby agrees to sell and the Purchaser hereby agrees to
               purchase the Shares on the terms and subject to the conditions
               set forth in this Agreement. At each Closing (as defined herein),
               beneficial ownership of the Shares purchased at such Closing will
               automatically transfer to the Purchaser, and the Company will
               deliver the Shares purchased at such Closing at the Purchaser's
               direction against prior payment by the Purchaser of the Purchase
               Price (as defined herein) for such Closing (in connection with
               which the parties acknowledge that payment by the Purchaser of
               the Total Purchase Price shall constitute payment of the Purchase
               Price for each of the Closings). The parties hereto acknowledge
               that the Purchaser has paid the Total Purchase Price concurrently
               with the execution of this Agreement by wire transfer to such
               account of the Company as the Company has theretofore designated
               by notice to the Purchaser."

          1.7. The last grammatical sentence of Section 3 is deleted.

          1.8. The last grammatical sentence of Section 4.1 is amended to read
in full as follows:

               "The Company has all necessary corporate power and authority to
               enter into, execute and deliver this Agreement and to consummate
               the transactions contemplated hereby."

          1.9. Section 4.2 is deleted, and Sections 4.3 through 4.7 are
renumbered as Sections 4.2 through 4.6, respectively.

                                   EX-10.3 - 3
<PAGE>

          1.10. Section 4.5 (as renumbered above) is amended to read in full as
follows:

                    "4.5. NO CONFLICTS. The execution, delivery and performance
               by the Company of this Agreement and the delivery of the Shares
               hereunder will not conflict with or violate the Articles of
               Incorporation or Bylaws of the Company, the Senior Notes
               Indentures or the Credit Agreement or violate any other material
               agreement to which the Company is a party, including, without
               limitation, any voting agreement, stockholders agreement or
               voting trust, or otherwise contravene, conflict with or result in
               a violation of, any federal, state, local, municipal, foreign,
               international, multi-national or other administrative order,
               constitution, law, ordinance, regulation or statute, or give any
               individual, corporation, partnership, governmental authority or
               regulatory body or any other person the right to prevent the
               consummation of the sale of the Shares contemplated hereby."

          1.11. 1.10 A new Section 4.7 is inserted at the end of Section 4,
which Section 4.7 shall read as follows:

                    "4.7. TITLE TO SHARES. The Company has, and immediately
               prior to delivery on each Closing Date the Company will have,
               good and valid title to the Shares to be sold hereunder on such
               Closing Date, free and clear of all liens, encumbrances, equities
               or claims (other than the security interest in favor of the
               Administrative Agent referred to in the definition of Credit
               Agreement hereunder); and, upon delivery of such Shares, and
               assuming that the Purchaser has made payment therefor on or prior
               to such Closing Date in accordance with this Agreement, good and
               valid title to such Shares, free and clear of all liens,
               encumbrances, equities or claims, will pass to the Purchaser.

          1.12. 1.10 A new Section 4A is inserted after the end of Section 4,
which Section 4A shall read as follows:

                    "4A. REPRESENTATIONS AND WARRANTIES OF FKE. FKE represents
               and warrants that the following representations and warranties
               are true and correct in all material respects as of the date of
               the First Amendment, and covenants that each such representation
               and warranty shall be true and correct in all material respects
               on and as of each Closing Date, with the same force and effect as
               though made on and as of such Closing Date, except for changes
               permitted or contemplated by this Agreement.

                    "4A.1. ORGANIZATION AND STANDING. FKE has been duly
               incorporated and is validly existing as a corporation under the
               laws of The Netherlands, with all power and authority to own its

                                   EX-10.3 - 4
<PAGE>

               properties and conduct its business as described in the Offering
               Circular, and has been duly qualified as a foreign corporation
               for the transaction of business and is in good standing under the
               laws of each other jurisdiction in which it owns or leases
               properties or conducts any business so as to require such
               qualification, or is subject to no material liability or
               disability by reason of the failure to be so qualified in any
               such jurisdiction; and each subsidiary of FKE has been duly
               incorporated and is validly existing as a corporation in good
               standing (to the extent that such concept exists in the relevant
               jurisdiction) under the laws of its jurisdiction of
               incorporation.

                    "4A.2. CAPITALIZATION. FKE has an authorized capitalization
               as set forth in the Offering Circular, and all of the issued
               shares of capital stock of FKE have been duly and validly
               authorized and issued, are fully paid and conform to the
               description of the capital stock contained in the Offering
               Circular; and all of the issued shares of capital stock of each
               subsidiary of FKE have been duly and validly authorized and
               issued, are fully paid and non-assessable (to the extent that
               such concept exists in the relevant jurisdiction) and (except for
               directors' qualifying shares and except as set forth in the
               Offering Circular) are owned directly or indirectly by FKE, free
               and clear of all liens, encumbrances, equities or claims; the
               holders of outstanding shares of capital stock of FKE are not
               entitled to preemptive or other rights to acquire the Shares
               which have not been complied with; there are no outstanding
               securities convertible into or exchangeable for, or warrants,
               rights or options to subscribe for from FKE, or obligations of
               FKE to issue, the ordinary shares or any other class of capital
               stock of FKE (except as set forth in the Offering Circular); and
               there are no restrictions on subsequent transfers of the Shares
               under the laws of The Netherlands and of the United States except
               as described in the Offering Circular.

                    "4A.3. EXECUTION, DELIVERY, AND PERFORMANCE. The execution,
               delivery and performance of this Agreement and the consummation
               of the transactions contemplated hereby have been duly authorized
               by all necessary corporate action of FKE, and FKE has taken all
               other actions required by law and its Articles of Association in
               order to consummate the transactions contemplated by this
               Agreement. This Agreement constitutes the valid and binding
               obligations of FKE, and is enforceable in accordance with its
               terms, except as enforceability may be subject to or limited by
               bankruptcy, insolvency, reorganization, moratorium or other
               similar laws relating to or affecting creditors' rights
               generally.

                    "4A.4. ARTICLES OF ASSOCIATION. FKE has furnished to the
               Purchaser a copy of the Articles of Association of FKE, which are
               in full force and effect.

                                   EX-10.3 - 5
<PAGE>

                    "4A.5. AUTHORIZATION AND ISSUANCE OF ORDINARY SHARES. The
               Shares to be delivered to the Purchaser hereunder have been duly
               and validly authorized and issued by FKE and are fully paid and
               conform to the description of the ordinary shares contained in
               the Offering Circular.

                    "4A.6. NO CONFLICTS. The execution, delivery and performance
               by FKE of this Agreement will not conflict with or violate the
               Articles of Association of FKE, the Senior Notes Indentures or
               the Credit Agreement or violate any other material agreement to
               which FKE is a party, including, without limitation, any voting
               agreement, stockholders agreement or voting trust, or otherwise
               contravene, conflict with or result in a violation of, any
               federal, state, local, municipal, foreign, international,
               multi-national or other administrative order, constitution, law,
               ordinance, regulation or statute, or give any individual,
               corporation, partnership, governmental authority or regulatory
               body or any other person the right to prevent the consummation of
               the delivery of the Shares contemplated hereby.

          1.13. In Section 5.5, the word "Fox" is deleted and the words "the
Purchaser" are inserted in its place.

          1.14. Section 6.1 is amended to read in full as follows:

                    "6.1 CONSUMMATION OF FOX KIDS EUROPE TRANSACTIONS. The Fox
               Kids Europe Transactions shall have been consummated, and
               immediately following the Fox Kids Europe Transactions FKE shall
               own, directly or indirectly, all of the assets owned by the
               Company immediately prior to the consummation of the Fox Kids
               Europe Transactions (other than the equity interests in SPC1 and
               the equity interests in SPC2), and FKEH shall own all of the
               Shares being sold hereunder free and clear of all liens,
               encumbrances, equities or claims (other than the security
               interest in favor of the Administrative Agent referred to in the
               definition of Credit Agreement hereunder).

          1.15. Section 6.2 is amended by inserting after the words "All
representations and warranties of the Company" the following words: "and FKE".

          1.16. Section 6.5 is deleted and Sections 6.6 and 6.7 are renumbered
as Sections 6.5 and 6.6, respectively.

          1.17. Section 7 is amended by striking from the portion thereof that
precedes Section 7.1 the words "issue and sell" and substituting the word
"deliver".

          1.18. Section 9.1 is amended to read in full as follows:

                                   EX-10.3 - 6
<PAGE>

                    "9.1. CONDUCT OF BUSINESS. The Company hereby covenants and
               agrees as follows: Subject to the terms and conditions of this
               Agreement, the Company agrees to use all reasonable efforts to
               take, or cause to be taken, all actions, and to do, or cause to
               be done, all things necessary, proper or advisable to consummate
               and make effective the transactions provided for by this
               Agreement. Each of the Company and FKE hereby agrees, while this
               Agreement is in effect, and except as contemplated hereby, not to
               intentionally and knowingly take any action with the intention
               and knowledge that such action would make any of its
               representations or warranties contained herein untrue or
               incorrect in any material respect or have the effect of
               preventing or disabling it from performing its obligations under
               this Agreement. Without limiting the generality of the foregoing,
               and except as contemplated by this Agreement, prior to the Final
               Closing Date, neither the Company nor FKE will, without the prior
               written consent of the Purchaser:

               "(a) Propose or adopt any amendments to the Articles of
                    Association of FKE (except that FKE shall, prior to the
                    first Closing, make that certain Deed of Conversion and
                    Amendment to the Articles of Association for Fox Kids Europe
                    N.V, pursuant to which FKE will convert from a BESLOTEN
                    VENNOOTSCHAP to a NAAMLOZE VENNOOTSCHAP, whereupon its name
                    will be Fox Kids Europe N.V.);

               "(b) Issue, sell or repurchase, or authorize or propose the
                    issuance, sale or repurchase of any shares of capital stock
                    of FKE, or securities convertible into such shares, or any
                    rights, warrants or options to acquire such shares or other
                    convertible securities, other than the initial issuance of
                    shares by FKE to the Company and the other incorporators of
                    FKE; or

               "(c) Sell, lease, dispose of, convey or transfer or agree to
                    sell, lease, dispose of, convey or transfer substantially
                    all of the assets of the Company, except for sales in the
                    ordinary course of business, and except for the Fox Kids
                    Europe Transactions, which shall have occurred prior to any
                    Closing."

          1.19. A new Section 9.4 is inserted after the end of Section 9.3,
which Section 9.4 shall read as follows:

                    "9.4. TAX. The Company will pay when due and payable any and
               all stamp, issue, transfer or similar taxes which may be payable
               in respect of the issuance of the Shares, any transfer of the
               Shares, and the delivery of the Shares to Purchaser.

                                   EX-10.3 - 7
<PAGE>

         1.20. Section 10 is amended to read in full as follows:

               "10. TAG ALONG RIGHTS.

                    "10.1. TAG ALONG RIGHTS. If FKE enters into an agreement (or
               series of related agreements) to transfer or sell to one or more
               persons who, directly or indirectly, own less than 10 percent of
               the outstanding Common Stock of FKE (a `THIRD PARTY') any number
               of shares of Common Stock of FKE (such transfer or sale, a `TAG
               ALONG SALE'), then the Purchaser shall have the obligation to
               participate in such Tag Along Sale. The Purchaser will be
               entitled to sell all of its shares of Common Stock of FKE before
               FKE is entitled to sell any shares.

                    "10.2. SALE NOTICE. FKE shall provide the Purchaser with
               written notice (the `TAG ALONG SALE NOTICE') not more than 60 nor
               less than 10 days prior to the proposed date of the Tag Along
               Sale (the `TAG ALONG SALE DATE'). Each Tag Along Sale Notice
               shall set forth: (i) the name and address of each Third Party;
               (ii) the number of shares of Common Stock proposed to be
               transferred or sold; (iii) the proposed amount and form of
               consideration to be paid for such shares of Common Stock and the
               terms and conditions of payment offered by the proposed
               transferee or purchaser, provided that if the form of
               consideration proposed is other than cash, FKE may not require
               the Purchaser's participation in the sale without the Purchaser's
               consent; (iv) confirmation that the proposed purchaser or
               transferee has been informed of the "Tag Along Rights" provided
               for herein and has agreed to purchase the shares of the Purchaser
               before purchasing any shares from FKE; and (v) the Tag Along Sale
               Date."

         1.21. Section 11 is amended to read in full as follows:

               "11. REGISTRATION RIGHTS.

                    "11.1. RIGHT TO PIGGYBACK. Whenever FKE proposes to register
               any of its Common Stock under the Securities Act (other than a
               registration on Form S-4 or Form S-8 or any successor or similar
               forms), and the registration form to be used may be used for the
               registration of the shares of Common Stock (a "Piggyback
               Registration"), whether or not for sale for its own account, FKE
               will give prompt written notice to the Purchaser of its intention
               to effect such registration and will include in such registration
               all shares of the Common Stock of FKE held by the Purchaser, to
               the extent such number of shares is not greater than the number
               to be registered.

                                   EX-10.3 - 8
<PAGE>

                    "11.2. PRIORITY. If in a Piggyback Registration, the
               managing underwriters advise FKE in writing that in their opinion
               the number of shares of Common Stock requested to be included in
               such registration exceeds the number which can be sold in such
               offering within a price range reasonably acceptable to FKE, FKE
               will include in such registration (i) first, the Common Stock of
               FKE that the Purchaser will sell and (ii) second, the Common
               Stock of FKE that FKE proposes to sell.

                    "11.3. "REGISTRATION EXPENSES". FKE shall pay all
               Registration Expenses relating to any registration of shares of
               Common Stock hereunder. "Registration Expenses" shall include all
               fees and expenses incident to FKE's performance of or compliance
               with this Agreement, including without limitation: (i) Securities
               and Exchange Commission, stock exchange or National Association
               of Securities Dealers, Inc. registration and filing fees and all
               listing fees with respect to the inclusion of the securities on a
               stock exchange, (ii) fees and expenses of compliance with state
               securities or "blue sky" laws, including without limitation,
               reasonable fees and expenses of blue sky counsel, (iii) printing
               expenses, (iv) messenger and delivery expenses, (v) fees and
               disbursements of counsel for FKE, (vi) reasonable fees and
               expenses of one counsel for the Purchaser, (vii) fees and
               disbursements of all independent public accountants and (viii)
               any other fees and disbursements of underwriters, if any,
               customarily paid by issuers or sellers of securities."

                    "11.4. INDEMNIFICATION. In the event any of the Purchaser's
               Common Stock is included in a registration statement under this
               Agreement:

                         "(a) To the extent permitted by law, FKE will indemnify
                    and hold harmless the Purchaser and each of its officers,
                    directors, employees and agents against any losses, claims,
                    damages or liabilities to which the Purchaser or its
                    officers, directors, employees or agents may become subject
                    under the Securities Act, the Securities Exchange Act of
                    1934 or other federal or state law or the applicable law of
                    any other jurisdiction including any foreign jurisdiction,
                    insofar as such losses, claims, damages or liabilities (or
                    actions in respect thereof) arise out of or are based upon
                    any of the following statements, omissions or violations
                    (collectively, a "Violation"): (i) any untrue statement or
                    alleged untrue statement of a material fact contained in
                    such registration statement, including any preliminary
                    prospectus or final prospectus contained therein or any
                    amendments or

                                   EX-10.3 - 9
<PAGE>

                    supplements thereto or (ii) the omission or alleged omission
                    to state therein a material fact required to be stated
                    therein, or necessary to make the statements therein not
                    misleading, and FKE will reimburse the Purchaser for any
                    legal or other expenses reasonably incurred by it in
                    connection with investigating or defending any such loss,
                    claim, damage, liability or action; provided, however, that
                    the indemnity agreement contained in this Section shall not
                    apply to amounts paid in settlement of any such loss, claim,
                    damage, liability or action if such settlement is effected
                    without the consent of FKE, which consent shall not be
                    unreasonably withheld, nor shall FKE be liable in any such
                    case for any such loss, claim, damage, liability or action
                    to the extent that it arises out of or is based upon a
                    Violation which occurs in reliance upon and in conformity
                    with information furnished in writing for use in connection
                    with such registration by, or on behalf of, the Purchaser.

                         "(b) To the extent permitted by law, the Purchaser will
                    indemnify and hold harmless FKE, each of its officers,
                    directors, agents or employees, and each Person, if any, who
                    controls FKE within the meaning of the Securities Act,
                    against any losses, claims, damages or liabilities to which
                    FKE or any such director, agent, employee, officer or
                    controlling Person, may become subject, under the Securities
                    Act, the Exchange Act or other federal or state law, insofar
                    as such losses, claims, damages or liabilities (or actions
                    in respect thereof) arise out of or are based upon any
                    Violation, in each case to the extent (and only to the
                    extent) that such Violation occurs in reliance upon and in
                    conformity with information furnished in writing by, or on
                    behalf of, the Purchaser for use in connection with such
                    registration; and the Purchaser will reimburse any legal or
                    other expenses reasonably incurred by FKE or any such agent,
                    employee, director, officer or controlling Person, in
                    connection with investigating or defending any such loss,
                    claim, damage, liability or action; provided, however, that
                    the indemnity agreement contained in this Section shall not
                    apply to amounts paid in settlement of any such loss, claim,
                    damage, liability or action if such settlement is effected
                    without the

                                  EX-10.3 - 10
<PAGE>

                    consent of the Purchaser, which consent shall not be
                    unreasonably withheld.

                         "(c) Promptly after receipt by an indemnified party
                    under this Section of notice of the commencement of any
                    action (including any governmental action), such indemnified
                    party will, if a claim in respect thereof is to be made
                    against any indemnifying party under this Section, deliver
                    to the indemnifying party a written notice of the
                    commencement thereof and the indemnifying party shall have
                    the right to participate in, and, to the extent the
                    indemnifying party so desires, jointly with any other
                    indemnifying party similarly notified, to assume the defense
                    thereof with counsel mutually satisfactory to the parties;
                    provided, however, that an indemnified party shall have the
                    right to retain its own counsel, with the fees and expenses
                    to be paid by the indemnifying party, if, in the reasonable
                    opinion of counsel for the indemnified party, representation
                    of such indemnified party by the counsel retained by the
                    indemnifying party would be inappropriate due to actual or
                    potential differing interests between such indemnified party
                    and any other party represented by such counsel in such
                    proceeding. The failure to deliver written notice to the
                    indemnifying party within a reasonable period of time of the
                    commencement of any such action shall relieve such
                    indemnifying party of any liability to the indemnified party
                    under this Section to the extent prejudicial to its ability
                    to defend such action, but the omission so to deliver
                    written notice to the indemnifying party will not relieve it
                    of any liability that it may have to any indemnified party
                    otherwise than under this Section.

                         "(d) If the indemnification provided for in this
                    Section is held by a court of competent jurisdiction to be
                    unavailable to an indemnified party or insufficient to hold
                    it harmless with respect to any loss, liability, claim,
                    damage or expense referred to therein, then the indemnifying
                    party, in lieu of indemnifying such indemnified party
                    hereunder, shall contribute to the amount paid or payable by
                    such indemnified party as a result of such loss, liability,
                    claim, damage or expense in such proportion as is
                    appropriate to reflect the relative fault of the

                                  EX-10.3 - 11
<PAGE>

                    indemnifying party on the one hand and of the indemnified
                    party on the other in connection with the statements or
                    omissions that resulted in such loss, liability, claim,
                    damage or expense as well as any other relevant equitable
                    considerations. The relative fault of the indemnifying party
                    and of the indemnified party shall be determined by
                    reference to, among other things whether the untrue or
                    alleged untrue statements of a material fact or the omission
                    to state a material fact relates to information supplied by
                    the indemnifying party or by the indemnified party and the
                    parties' relative intent, knowledge, access to information,
                    and opportunity to correct or prevent such statement or
                    omission."

                    "11.5. APPLICABILITY TO IPO. The provisions of Section 11.4
               shall apply to the IPO to the same extent that such provisions
               relate to a registered offering in the United States."

         1.22. Each reference in the Agreement to the Agreement shall mean the
Agreement as amended by the First Amendment, except if a contrary intent is
expressly set forth.

         1.23. Section 13.2 is amended by striking the characters "(a)" and by
adding, immediately after the words "Fax: 310.728.2209," the following:

                    "IF TO FKE:

                    Fox Kids Europe, N.V.
                    Sumatralaan 45, 1217 GP
                    Hilversum, The Netherlands
                    Attention: Chief Executive Officer
                    Fax:  __________________

                    WITH A COPY TO:

                    Fox Kids Europe Limited
                    338 Euston Road
                    London NW1 3AZ.
                    Attention:  General Counsel
                    Fax:  +44 171 554 9086

     2. MISCELLANEOUS. Each of Sections 13.1, 13.3, 13.4, 13.5, 13.6, 13.8,
13.9, 13.10, 13.11 and 13.14 of the Agreement is hereby incorporated herein, but
with each reference therein to the Agreement stricken and a reference to this
Amendment inserted in its place.

                                  EX-10.3 - 12
<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Amendment as of the
date first above written.

                         FKE

                         FOX KIDS EUROPE B.V.

                         By   /S/ YNON KREIZ
                              -----------------------------------
                         Its:
                              -----------------------------------

                         COMPANY

                         FOX KIDS EUROPE HOLDINGS, INC.

                         By   /S/ KATE TRINDER
                              -----------------------------------
                         Its:
                              -----------------------------------

                         PURCHASER

                         FOX BROADCASTING COMPANY

                         By  /S/ JAY ITKOWITZ
                              -----------------------------------
                         Its:
                              -----------------------------------

                                  EX-10.3 - 13

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