Document:

EXHIBIT 4.2.63
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EXCEPT AS OTHERWISE PROVIDED IN THIS WARRANT, THE SECURITIES EVIDENCED BY THIS
WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS (i) THERE IS
AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT COVERING SUCH SECURITIES, (ii)
THE SALE IS MADE IN ACCORDANCE WITH RULE 144 UNDER THE ACT, OR (iii) THE COMPANY
RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF THESE SECURITIES REASONABLY
SATISFACTORY TO THE COMPANY STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR
HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY
REQUIREMENTS OF THE ACT.

                             SALON MEDIA GROUP, INC.
                          COMMON STOCK PURCHASE WARRANT

            1. Price and Number of Shares Subject to Warrant. FOR VALUE RECEIVED
and subject to the terms and conditions herein set forth, John Warnock (the
"Purchaser"), is entitled to purchase from Salon Media Group, Inc., a Delaware
corporation (the "Company"), at any time after 5:00 p.m. California time on
October 30, 2003 and before the termination of this Warrant pursuant to Section
12 below, at a price per share equal to $0.0575, as adjusted in accordance with
Section 3 below (the "Warrant Price"), that number of shares indicated in
Section 2 below of fully paid and nonassessable shares of the Common Stock of
the Company (which Common Stock currently trades on the OTC), as adjusted
pursuant to Section 3 (the "Warrant Shares").

            2. Number of Shares of Warrant Shares. The number of Warrant Shares
for which this Warrant is exercisable is equal to 300,000.

            3. Adjustment of Warrant Price and Warrant Shares. The number of
shares of Warrant Shares issuable upon the exercise of this Warrant and the
exercise price thereof shall be subject to adjustment from time to time, and the
Company agrees to provide notice upon the happening of certain events, as
follows:

            (a) Merger, Sale of Assets, etc. If at any time the Company proposes
to (i) consolidate with or merge with or sell or convey all or substantially all
of its assets to any other corporation or entity, or (ii) distribute stock,
securities or other assets to the holders of Common Stock in exchange for their
shares of the Company's Common Stock, then the Company shall give the holder of
this Warrant thirty (30) days advance notice of the effective date of such
transaction and to the extent the Warrant has not been exercised in full by the
effective date of such transaction, this Warrant shall terminate. The foregoing
notwithstanding, a merger or consolidation of the Company with or into another
corporation after which the shareholders of the Company immediately prior to
such transaction hold more than fifty percent (50%) of the voting power of the
surviving entity, shall not result in termination of this Warrant; instead this
Warrant shall be exchanged for a warrant of the surviving corporation that shall
entitle the holder hereof to acquire upon the exercise thereof the number of
shares of stock or

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other property to which the holder of the number of shares of the Warrant Shares
which are subject to this Warrant on the effective date of the merger would have
been entitled to receive for such securities under the terms of the merger.

            (b) Reclassification, etc. If the Company at any time shall, by
subdivision, combination or reclassification of securities or otherwise, change
any of the securities to which purchase rights under this Warrant exist into the
same or a different number of securities of any class or classes, this Warrant
shall thereafter entitle its holder to acquire such number and kind of
securities as would have been issuable as the result of such change with respect
to the securities which were subject to the purchase rights under this Warrant
immediately prior to such subdivision. combination, reclassification or other
change. If shares of the class of the Company's stock for which this Warrant is
being exercised are subdivided or combined into a greater or smaller number of
shares of stock, the Warrant Price shall be proportionately reduced in the case
of subdivision of shares or proportionately increased in the case of combination
of shares, in both cases by the ratio which the total number of shares of such
class of stock to be outstanding immediately after such event bears to the total
number of shares of such class of stock outstanding immediately prior to such
event.

            (c) Adjustment for Dividends in Stock. In case at any time or from
time to time on or after the date hereof the holders of the shares of the
Company's capital stock of the same class and series as the Warrant Shares (or
any shares of stock or other securities at the time receivable upon the exercise
of this Warrant) shall have received, or, on or after the record date fixed for
the determination of eligible shareholders, shall have become entitled to
receive, without payment therefor, other or additional stock of the Company by
way of dividend, then and in each case, the holder of this Warrant shall, upon
the exercise hereof, be entitled to receive, in addition to the number of shares
of Warrant Shares receivable thereupon, and without payment of any additional
consideration therefor, the amount of such other or additional stock of the
Company which such holder would hold on the date of such exercise had it been
the holder of record of such Warrant Shares on the date hereof and had
thereafter, during the period from the date hereof to and including the date of
such exercise, retained such shares and/or all other additional stock receivable
by it as aforesaid during such period, giving effect to all adjustments called
for during such period by paragraph (c) of this Section 3.

            (d) Adjustment of Warrant Price.

                  (i) Special Definitions. For purposes of this Section 3(d),
the following definitions shall apply:

                        (A) "OPTIONS" shall mean rights, options or warrants to
subscribe for, purchase or otherwise acquire either Common Stock or Convertible
Securities (as defined below).

                        (B) "CONVERTIBLE SECURITIES" shall mean any evidences of
indebtedness, shares or other securities convertible into or exchangeable for
Common Stock.

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                        (C) "ADDITIONAL SHARES OF COMMON STOCK" shall mean all
shares of Common Stock issued (or, pursuant to Section 3(d)(iii) below, deemed
to be issued) by the Company after the Warrant Issue Date (as defined below),
other than shares of Common Stock issued or issuable:

                        (I) upon conversion of shares of Series A Preferred
Stock or Series B Preferred Stock;

                        (II) to officers, directors or employees of, or
consultants to, the Company pursuant to a warrant, stock grant, option agreement
or plan, purchase plan or other employee stock incentive program or agreement
approved by the Board of Directors, up to a maximum number of shares of Common
Stock (assuming full conversion of any such convertible securities into Common
Stock) equal to 25% of the then outstanding shares of the Company's Common
Stock, Series A Preferred Stock (as converted) and Series B Preferred Stock (as
converted);

                        (III) in connection with the acquisition by the Company
of another business entity or majority ownership thereof approved by the Board
of Directors;

                        (IV) to lease companies, real estate lessors, banks or
financial institutions, whether shares or warrants, in connection with any lease
or debt financing transaction approved by the Board of Directors;

                        (V) upon exercise of warrants outstanding as of the date
of the Warrant Issue Date (as defined hereafter);

                        (VI) in connection with a transaction described in
Section 3(d)(iv);

                        (VII) in connection with a strategic investment and/or
acquisition of technology or intellectual property approved by the Board of
Directors;

                        (VIII) by way of dividend or other distribution on
shares of Common Stock excluded from the definition of Additional Shares of
Common Stock by the foregoing clauses (1) through (7).

                        (D) "WARRANT ISSUE DATE" shall mean the date on which
the Warrant was first issued by the Company.

                  (ii) No Adjustment of Warrant Price. No adjustment in the
Warrant Price shall be made with respect to the issuance of Additional Shares of
Common Stock unless the consideration per share for an Additional Share of
Common Stock issued or deemed to be issued by the Company is less than the
Warrant Price in effect on the date of, and immediately prior to, such issue.

                  (iii) Deemed Issue of Additional Shares of Common Stock. In
the event the Company at any time or from time to time after the Warrant Issue
Date shall issue any Options or Convertible Securities or shall fix a record
date for the determination of holders

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of any class of securities entitled to receive any such Options or Convertible
Securities, then the maximum number of shares (as set forth in the instrument
relating thereto without regard to any provisions contained therein for a
subsequent adjustment of such number) of Common Stock issuable upon the exercise
of such Options or, in the case of Convertible Securities, the conversion or
exchange of the Convertible Securities shall be deemed to be Additional Shares
of Common Stock issued as of the time of the issuance of such Option or
Convertible Security or, in case such a record date shall have been fixed, as of
the close of business on such record date:

                        (A) except as provided in Section 3(d)(iii)(B) and
3(d)(iii)(C) below, no further adjustment in the Warrant Price shall be made
upon the subsequent issue of Convertible Securities or shares of Common Stock
upon the exercise of such Options or conversion or exchange of such Convertible
Securities;

                        (B) if such Options or Convertible Securities by their
terms provide, with the passage of time or otherwise, for any change in the
consideration payable to the Company, or change in the number of shares of
Common Stock issuable, upon the exercise, conversion or exchange thereof (other
than under or by reason of provisions designed to protect against dilution), a
Warrant Price computed upon the original issue thereof (or upon the occurrence
of a record date with respect thereto) and any subsequent adjustments based
thereon, shall, upon any such increase or decrease becoming effective, be
recomputed to reflect such increase or decrease insofar as it affects such
Options or the rights of conversion or exchange under such Convertible
Securities;

                        (C) upon the expiration of any such Options or
Convertible Securities, the Warrant Price, to the extent in any way affected by
or computed using such Options or Convertible Securities, shall be recomputed to
reflect the issuance of only the number of shares of Common Stock actually
issued upon the exercise of such Options or Convertible Securities; and

                        (D) no readjustment pursuant to Section 3(d)(iii)
clauses (B) and (C) above shall have the effect of increasing the Warrant Price
to an amount which exceeds the lower of (1) the Warrant Price on the original
adjustment date or (2) the Warrant Price that would have resulted from any
issuance of Additional Shares of Common Stock between the original adjustment
date and such readjustment date.

                                                (iv) Adjustment of Warrant Price
Upon Issuance of Additional Shares of Common Stock Below Purchase
Price. In the event this Corporation shall issue Additional Shares of Common
Stock (including Additional Shares of Common Stock deemed to be issued pursuant
to Section 3(d)(iii)), after the Warrant Issue Date, without consideration or
for a consideration per share less than the Warrant Price in effect on the date
of and immediately prior to such issue (such issuance price being referred to
herein as the "DILUTION PRICE"), then and in each such event the Warrant Price
shall automatically be adjusted as set forth in this Section 3(d)(iv), unless
otherwise provided in this Section 3(d)(i).

                        (A) Adjustment Formula. Whenever the Conversion Price is
adjusted by Section 3(d)(iv), the new Warrant Price shall be determined by
multiplying the Warrant Price then in effect by a fraction, the numerator of
which shall be the number of shares of Common Stock outstanding immediately
prior to such issue plus the number of shares of Common Stock which the
aggregate consideration received by the Company for the total number of

<PAGE>

Additional Shares of Common Stock so issued would purchase at such Warrant Price
in effect immediately prior to such issuance, and the denominator of which shall
be the number of shares of Common Stock outstanding immediately prior to such
issues plus the number of such additional shares of Common Stock so issued. For
the purposes of this paragraph, the number of outstanding shares of Common Stock
shall be deemed to include the Common Stock issuable on conversion of all other
outstanding Preferred Stock, upon conversion or exercise of any other
outstanding Convertible Securities and upon exercise of all vested Options (and
assuming conversion of Convertible Securities issuable upon exercise of
Options).

                  (v) Determination of Consideration. For purposes of this
Section 3(d), the consideration received by the Company for the issue of any
Additional Shares of Common Stock shall be computed as follows:

                        (A) Cash and Property: Such consideration shall:

                        (1) insofar as it consists of cash, be computed at the
aggregate amount of cash received by the Company before deducting any reasonable
discounts, commissions or other expenses allowed, paid or incurred by the
Company for any underwriting or otherwise in connection with the issuance and
sale thereof;

                        (2) insofar as it consists of property other than cash,
be computed at the fair value thereof at the time of such issue, as determined
by Board in the good faith exercise of its reasonable business judgment; and

                        (3) in the event Additional Shares of Common Stock are
issued together with other shares or securities or other assets of the Company
for consideration which covers both, be the proportion of such consideration so
received, computed as provided in clauses (1) and (2) above, as determined in
good faith by the Board.

                        (B) Options and Convertible Securities. The
consideration per share received by the Company for Additional Shares of Common
Stock deemed to have been issued pursuant to Section 3(d), relating to Options
and Convertible Securities, shall be determined by dividing:

                        (1) the total amount, if any, received or receivable by
the Company as consideration for the issue of such Options or Convertible
Securities, plus the minimum aggregate amount of additional consideration (as
set forth in the instruments relating thereto, without regard to any provision
contained therein for a subsequent adjustment of such consideration) payable to
the Company upon the exercise of such Options or the conversion or exchange of
such Convertible Securities, or in the case of Options for Convertible
Securities, the exercise of such Options for Convertible Securities and the
conversion or exchange of such Convertible Securities, by
<PAGE>

                        (2) the maximum number of shares of Common Stock (as set
forth in the instruments relating thereto, without regard to any provision
contained therein for a subsequent adjustment of such number) issuable upon the
exercise of such Options or the conversion or exchange of such Convertible
Securities.

            4. No Stockholder Rights. This Warrant, by itself, as distinguished
from any shares purchased hereunder, shall not entitle its holder to any of the
rights of a stockholder of the Company.

            5. Exercise of Warrant. This Warrant may be exercised in whole or
part by the holder, at any time after the date hereof and prior to the
termination of this Warrant, by the surrender of this Warrant, together with the
Notice of Exercise attached hereto as Attachment 1, duly completed and executed
at the principal office of the Company, accompanied by payment in full of the
Warrant Price in cash or by check with respect to the shares of Warrant Shares
being purchased. This Warrant shall be deemed to have been exercised immediately
prior to the close of business on the date of its surrender for exercise as
provided above, and the person entitled to receive the shares of Warrant Shares
issuable upon such exercises shall be treated for all purposes as holder of such
shares of record as of the close of business on such date. As promptly as
practicable after such date, the Company shall issue and deliver to the person
or persons entitled to receive the same a certificate or certificates for the
number of full shares of Warrant Shares issuable upon such exercise.

            6. Conversion. In lieu of exercising this Warrant or any portion
hereof by paying cash, the holder hereof shall have the right to convert this
Warrant or any portion hereof and receive Warrant Shares by executing and
delivering to the Company at its principal office the written notice of
conversion in the form attached hereto as Attachment 2, respectively, specifying
the portion of the Warrant to be converted, and accompanied by this Warrant. The
number of shares of Warrant Shares to be issued upon such conversion shall be
computed using the following formula:

            X = (P)(Y)(A-B)/A

            Where                   X = the number of shares of Warrant Shares
                                        to be issued to the holder for the
                                        portion of the Warrant being
                                        converted.

                                    P = the portion in the form of a fraction of
                                        the Warrant being converted.

                                    Y = the total number of shares of Warrant
                                        Shares issuable upon exercise of the
                                        Warrant in full.

                                    A = the fair market value of one share of
                                        Warrant Shares which shall mean the last
                                        reported sale price per share of the
                                        Common Stock as reported on the Nasdaq
                                        National Market (or if the Common Stock
                                        is not then listed on the Nasdaq
                                        National Market, then such last reported
                                        sale price on a national securities
                                        exchange or other

<PAGE>

                                        nationally recognized exchange or
                                        trading system) on the day upon which
                                        the holder delivered its notice of
                                        conversion to the Company, or if no such
                                        price is reported on such day, such
                                        price on the next preceding business day
                                        for which such price is reported.

                                    B = the Warrant Price on the day upon which
                                        the holder delivered its notice of
                                        conversion to the Company.

Any portion of this Warrant that is converted shall be immediately canceled.

            7. Certificate of Adjustment. Whenever the Warrant Price or number
or type of securities issuable upon exercise of this Warrant is adjusted, as
herein provided, the Company shall deliver to the record holder of this Warrant
a certificate of an officer or other authorized person of the Company setting
forth the nature of such adjustment and a brief statement of the facts requiring
such adjustment.

            8. Sale or Transfer of Warrant. The Purchaser shall not sell or
transfer this Warrant other than to an affiliate of Purchaser. For the purposes
of this Agreement, an "Affiliate" shall mean any partner, limited partner or
member of Purchaser or any person or entity that directly or indirectly through
one or more intermediaries controls or is controlled by or is under common
control with Purchaser.

            9. Successors and Assigns. The terms and provisions of this Warrant
shall inure to the benefit of, and be binding upon the Company, its successors
and assigns. This Warrant cannot be assigned by Purchaser, except to an
Affiliate, without the express written consent of the Company.

            10. Representations and Covenants of the Company. The Company makes
the following representations and covenants:

                  (a) Authorization. All corporate action on the part of the
Company, its officers, directors and stockholders necessary for the
authorization, execution and delivery of this Warrant, the performance of all
obligations of the Company hereunder and thereunder, and the authorization,
issuance (or reservation for issuance), sale and delivery of the Warrant Shares
issuable hereunder has been taken or will be taken prior to the Closing, and
this Warrant constitutes valid and legally binding obligations of the Company,
enforceable in accordance with its terms, except (i) as limited by applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general
application affecting enforcement of creditors' rights generally, (ii) as
limited by laws relating to the availability of specific performance, injunctive
relief or other equitable remedies and (iii) to the extent the indemnification
provisions contained in this Warrant may be limited by applicable federal or
state securities laws.

                  (b) Valid Issuance of Common Stock. The Warrant Shares
issuable hereunder, when issued, sold and delivered in accordance with the terms
of this Warrant for the consideration expressed herein, will be duly and validly
issued, fully paid and nonassessable, and will be free of restrictions on
transfer other than restrictions on transfer under this Warrant and under
applicable state and federal securities laws.

<PAGE>

                  (c) Reservation of Common Stock. The Common Stock issuable
upon exercise or conversion of this Warrant has been duly and validly reserved.
The Company will at all times during the term of the Warrant have authorized and
reserved a sufficient number of shares of Common Stock to provide for the
exercise rights represented by the Warrant, free from preemptive rights. In the
event the number of authorized but unissued shares of Common Stock are not
sufficient to permit exercise of the Warrant, the Company will take any such
corporate action necessary to increase its authorized but unissued shares of
common Stock to permit such exercise.

                  (d) Company Action. The Company will at all times during the
term of this Warrant act in good faith to assist in the carrying out of all of
the provisions of this Warrant. The Company will at all times during the term of
the Warrant take any and all action as may be necessary or appropriate to
protect the exercise of the rights of the Purchaser under this Warrant.

            11. Representations and Covenants of the Purchaser. This Warrant has
been entered into by the Company in reliance upon the following representations
and covenants of the Purchaser:

                  (a) Investment Purpose. The right to acquire Common Stock
contained herein will be acquired for investment and not with a view to the sale
or distribution of any part thereof, and the Purchaser has no present intention
of selling or engaging in any public distribution of the same except pursuant to
a registration or exemption.

                  (b) Private Issue. The Purchaser understands (i) that the
Common Stock issuable upon exercise of the purchase rights under this Warrant is
not registered under the Securities Act of 1933 Act or qualified under
applicable state securities laws on the ground that the issuance contemplated by
this Warrant will be exempt from the registration and qualifications
requirements thereof, and (ii) that the Company's reliance on such exemption is
predicated on the representations set forth in this Section.

                  (c) Financial Risk. Purchaser (i) has such knowledge and
experience in financial and business matters as to be capable of evaluating the
merits and risks of Purchaser's investment; (ii) has the ability to bear the
economic risks of Purchaser's prospective investment; (iii) has had access to
such information as Purchaser has considered necessary to make a determination
to purchase the investment together with such additional information as is
necessary to verify the accuracy of the information supplied; and (iv) has not
been offered the investment by any form of advertisement, article, notice or
other communication published in any newspaper, magazine, or similar media or
broadcast over television or radio, or any seminar or meeting whose attendees
have been invited by any such media.

                  (d) Accredited Investor. Purchaser is an "accredited investor"
within the meaning of SEC Rule 501 of Regulation D, as presently in effect.

                  (e) Authorization. This Warrant constitutes the Purchaser's
valid and legally binding obligation, enforceable in accordance with its terms.

<PAGE>

                  (f) Disclosure of Information. Purchaser believes it has
received all the information it considers necessary or appropriate for deciding
whether to purchase the rights under this Warrant. Purchaser further represents
that it has had an opportunity to ask questions and receive answers from the
Company regarding the terms and conditions of the Warrant and the Common Stock
issuable upon exercise of the purchase rights thereunder.

                  (g) Investment Experience. Purchaser is an investor in
securities of companies and acknowledges that it is able to fend for itself, can
bear the economic risk of its investment and has such knowledge and experience
in financial or business matters that it is capable of evaluating the merits and
risks of the investment in the Company's stock. If other than an individual,
Purchaser also represents that it has not been organized for the purpose of
acquiring the rights under this Warrant.

                  (h) Legends. It is understood that the Common Stock issuable
upon exercise of the rights under this Warrant may bear one or all of the
following legends:

                        (i) "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT") AND
ARE "RESTRICTED SECURITIES" AS DEFINED IN RULE 144 PROMULGATED UNDER THE ACT.
THE SECURITIES MAY NOT BE SOLD OR OFFERED FOR SALE OR OTHERWISE DISTRIBUTED
EXCEPT (i) IN CONJUNCTION WITH AN EFFECTIVE REGISTRATION STATEMENT FOR THE
SHARES UNDER THE ACT OR (ii) IN COMPLIANCE WITH RULE 144, OR (iii) PURSUANT TO
AN OPINION OF COUNSEL, THAT SUCH REGISTRATION OR COMPLIANCE IS NOT REQUIRED AS
TO SAID SALE, OFFER OR DISTRIBUTION."

                        (ii) Any legend required by the laws of the State of
California or other states, including any legend required by the California
Department of Corporations and Sections 417 and 418 of the Corporations Code.

            12. Termination. Unless otherwise terminated pursuant to Section 3
(a) above, this Warrant shall terminate at 5:00 p.m., California time, on the
third anniversary of the date hereof.

            13. Notices. Unless otherwise provided, any notice required or
permitted under this Warrant shall be given in writing and shall be deemed
effectively given upon personal delivery to the party to be notified or upon
receipt after deposit with the United States Post Office, by registered or
certified mail, postage prepaid and addressed to the party to be notified at the
address supplied by Purchaser to the Company or at such other address as
Purchaser shall designate by ten days advance written notice to the Company.

            14. Miscellaneous. This Warrant shall be governed by the laws of the
State of Delaware, as such laws are applied to contracts to be entered into and
performed entirely in Delaware by Delaware residents. The headings in this
Warrant are for purposes of convenience and reference only, and shall not be
deemed to constitute a part hereof. Any provision of this Warrant may be
amended, waived or modified upon the written consent of the Company, and the
Purchaser; provided, however that each other Purchaser of a Warrant shall, at
its option, be entitled to amend, waive or modify the Warrant held by such
Purchaser in a similar manner.

<PAGE>

Upon delivery of written notice to the Company by the Purchaser, this Warrant
shall be deemed amended, waived or modified in the same manner as any other
Warrant. Any amendment or waiver effected in accordance with this Section 14
shall be binding upon the Company, the Purchaser and each transferee of this
Warrant.

                                                  SALON MEDIA GROUP, INC.

                                                  Signed: /s/ David Talbot

                                                  Printed:  David Talbot

                                                  Title:  Chairman of the BoardEXHIBIT 4.2.64
                                                                  --------------

            NOTE AND WARRANT PURCHASE AGREEMENT

            This Note and Warrant Purchase Agreement, dated as of November 12,
2003 (the "Agreement"), is entered into by and among Salon Media Group, Inc., a
Delaware corporation (the "Company"), and each of the undersigned purchasers
(collectively the "Purchasers" and individually a "Purchaser") listed on the
Schedule of Purchasers attached hereto as Exhibit A.

            RECITAL

            On the terms and subject to the conditions set forth herein, the
Purchasers are willing to purchase from the Company and the Company is willing
to sell to the Purchasers, Convertible Promissory Notes (individually a "Note",
and collectively, the "Notes") and warrants to purchase common stock
(individually, a "Warrant", and collectively, the "Warrants") to be issued by
the Company in the principal amounts and for the number of shares, respectively,
set forth opposite each Purchaser's name on the Schedule of Purchasers.

            AGREEMENT

            NOW, THEREFORE, in consideration of the foregoing, and the
representations, warranties, and conditions set forth below, the parties hereto,
intending to be legally bound, hereby agree as follows:

            1. Notes and Warrants.

            (a) Issuance of Notes and Warrants. In reliance upon the
representations, warranties and covenants of the parties set forth herein, the
Company agrees to issue, sell and deliver to the Purchasers, and the Purchasers
agree to purchase from the Company, the Notes and Warrants. The purchase price
for the Notes and Warrants shall be payable in immediately available funds.

            (b) Terms of the Notes and Warrants. The terms and conditions of the
Notes and Warrants are set forth in the forms of Note and Warrant attached
hereto as Exhibit C and Exhibit D, respectively. Capitalized terms not otherwise
defined herein shall have the meaning set forth in Exhibit C or Exhibit D.

            (c) Delivery. The Company will deliver to each Purchaser a Note and
Warrant to be purchased by such Purchaser against receipt by the Company of the
purchase price for such Note.

            2. Representations and Warranties of the Company. The Company hereby
represents and warrants to the Purchaser that:

            (a) Organization and Standing. The Company is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Delaware and has all requisite corporate power and authority to carry on its
businesses as now conducted and as proposed to be conducted.

<PAGE>

            (b) Corporate Power. The Company has all requisite corporate power
necessary for the authorization, execution and delivery of this Agreement, and
the Warrants, to sell and issue the Notes hereunder, to carry out and perform
all of its obligations under the terms of this Agreement, and to carry on its
business as presently conducted and as presently proposed to be conducted, and
such other agreements and instruments. Each of the Agreement, the Notes and the
Warrants is a valid and binding obligation of the Company, enforceable in
accordance with its terms, except as the same may be limited by bankruptcy,
insolvency, moratorium, and other laws of general application affecting the
enforcement of creditors' rights.

            (c) Capitalization. As of October 31, 2003, the authorized capital
stock of the Company is Fifty million (50,000,000) shares of Common Stock and
Five million (5,000,000) shares of Preferred Stock, and there are issued and
outstanding (i) 14,155,276 shares of the Common Stock, (ii) 809 shares of Series
A Preferred Stock, (iii) 125 shares of Series B Preferred Stock (iv) warrants to
purchase an aggregate of 14,157,954 shares of Common Stock, (v) options to
purchase an aggregate of 4,994,449 shares of Common Stock granted to employees
pursuant to the Company's 1995 Stock Option Plan, and (vi) an aggregate of
16,125,960 shares of Common Stock reserved for issuance upon conversion of the
Series A Preferred Stock and Series B Preferred Stock. The 16,125,960 shares of
Common Stock reserved for issuance upon conversion of the Series A Preferred
Stock and Series B Preferred Stock may increase according to anti-dilution
provisions to approximately 38,000,000 common shares on an "as converted" basis
should a Series C and D Preferred Round of approximately $4 million close with a
conversion ratio equaling $0.04 per common share. Bridge financing in the gross
amount of $3,677,044 has been received designated for conversion to Series C
Preferred Stock, and may represent approximately 92 million shares of common
stock, on an "as converted" basis. All such issued and outstanding shares have
been duly authorized and validly issued, are fully paid and nonassessable, and
were issued in compliance with all applicable state and federal laws concerning
the issuance of securities. From the period between October 31, 2003 and the
date hereof, the Company has not issued any shares of capital stock, nor granted
any warrants or options to purchase shares of Common Stock.

            (d) Authorization.

                  (i) Corporate Action. All corporate action on the part of the
Company, its officers, directors and stockholders necessary for the sale and
issuance of the Notes and the authorization, execution and performance of the
Company's obligations hereunder and under the Warrants has been taken.

                  (ii) Valid issuance. The Notes, the Warrants, and any shares
of common or preferred stock issued upon conversion or exercise of the Notes or
Warrants (the "Conversion Securities"), when issued in compliance with the
provisions of this Agreement will be validly issued, fully paid and
nonassessable and will be free of restrictions on transfer other than
restrictions under the Warrants and under applicable federal and state
securities laws.

            (e) No Preemptive Rights. No person has any right of first refusal
or any preemptive rights in connection with the issuance of the Notes, the
Warrants or Conversion Securities or any future issuances of securities by the
Company.

<PAGE>

            (f) Compliance with Other Instruments. The execution, delivery and
performance of and compliance with this Agreement, the Notes or the Warrants by
the Company, and the issuance and sale of the Conversion Securities, will not
result in any violation of the Certificate of Incorporation or Bylaws of the
Company or in any violation of or default in any material respect under the
terms of any mortgage, indenture, contract, agreement, instrument, judgment or
decree.

            (g) Offering. In reliance on the representations and warranties of
the Purchaser in Section 3 hereof, the offer, sale and issuance of the Notes and
the Warrants in conformity with the terms of this Agreement, the Notes and the
Warrants will not result in a violation of the Securities Act of 1933, as
amended (the "Securities Act"), or any state securities laws, including the
qualification or registration requirements of applicable blue sky laws.

            (h) Company Reports; Disclosure.

                  (i) Company Reports. For the purposes of this Agreement, the
term "Company Reports" shall mean, collectively, each registration statement,
report, proxy statement or information statement filed with the Securities and
Exchange Commission (the "SEC") since January 1, 1999, in the form (including
exhibits, annexes and any amendments thereto) filed with the SEC. As of their
respective dates, the Company Reports complied in all material respects with the
requirements of the Securities Act and the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), and did not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements made therein, in light of the circumstances in
which they were made, not misleading. Nothing has occurred since July 12, 2003
(the date of filing of the Company's Form 10-Q reporting the three month period
ending June 30, 2003) which would require the filing of any additional report or
of any amendment to any of the Company Reports with the SEC, or which would
cause any of the Company Reports to contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary
to make the statements made therein, in light of the circumstances in which they
were made, not misleading.

                  (ii) Disclosure. No representation or warranty by the Company
in this Agreement, or in any document or certificate furnished or to be
furnished to the Purchaser pursuant hereto or in connection with the
transactions contemplated hereby, when taken together, contains or will contain
any untrue statement of a material fact or omits or will omit to state a
material fact necessary to make the statements made herein and therein, in the
light of the circumstances under which they were made herein and therein, in the
light of the circumstances under which they were made, not misleading. The
Company has either filed with the SEC or fully provided the Purchaser with all
the information necessary for the Purchaser to decide whether to purchase the
Note.

            3. Representations and Warranties by the Purchaser. The Purchaser
represents and warrants to the Company as of the time of issuance of the Notes
and Warrants as follows:

            (a) Investment Intent: Authority. This Agreement is made with the
Purchaser in reliance upon such Purchaser's representation to the Company,
evidenced by Purchaser's execution of this Agreement, that Purchaser is
acquiring the Note and Warrant, including the

<PAGE>

Conversion Securities, for investment for such Purchaser's own account, not as
nominee or agent, for investment and not with a view to, or for resale in
connection with, any distribution or public offering thereof within the meaning
of the Securities Act. Purchaser has the full right, power, authority and
capacity to enter into and perform this Agreement and this Agreement will
constitute a valid and binding obligation upon Purchaser, except as the same may
be limited by bankruptcy, insolvency, moratorium, and other laws of general
application affecting the enforcement of creditors' rights.

            (b) Securities Not Registered. The Purchaser understands and
acknowledges that the offering of the Notes, the Warrants and the Conversion
Securities pursuant to this Agreement will not be registered under the
Securities Act or qualified under applicable blue sky laws on the grounds that
the offering and sale of securities contemplated by this Agreement are exempt
from registration under the Securities Act and exempt from qualifications
available under applicable blue sky laws, and that the Company's reliance upon
such exemptions is predicated upon the Purchaser's representations set forth in
this Agreement. The Purchaser acknowledges and understands that the Note, the
Warrant and the Conversion Securities must be held for at least 12 months after
Closing and thereafter indefinitely unless they are registered under the
Securities Act and qualified under applicable blue sky laws or an exemption from
such registration and such qualification is available.

            (c) No Transfer. Purchaser covenants that in no event will it
transfer the Note, the Warrant or the Conversion Securities other than (i) in
conjunction with an effective registration statement for the Securities under
the Securities Act or pursuant to an exemption therefrom, or in compliance with
Rule 144 promulgated under the Securities Act, or (ii) to a partner, former
partner, limited partner, member, former member, stockholder or other entity
affiliated with Purchaser or, in the case of a Purchaser who is an individual,
to a spouse, lineal descendant or ancestor, or any trust for any of the
foregoing, by transfer by gift, will or intestate succession; provided that in
each of the foregoing cases the transferee agrees in writing to be subject to
the terms of this Agreement to the same extent as if the transferee were the
original Purchaser hereunder.

            (d) Knowledge and Experience. Purchaser (i) has such knowledge and
experience in financial and business matters as to be capable of evaluating the
merits and risks of Purchaser's prospective investment in the Note, the Warrant
and the Conversion Securities; (ii) has the ability to bear the economic risks
of Purchaser's prospective investment; (iii) has had access to such information
as Purchaser has considered necessary to make a determination to purchase the
Note, the Warrant and the Conversion Securities together with such additional
information as is necessary to verify the accuracy of the information supplied;
and (iv) has not been offered the Note, the Warrant or the Conversion Securities
by any form of advertisement, article, notice or other communication published
in any newspaper, magazine, or similar media or broadcast over television or
radio, or any seminar or meeting whose attendees have been invited by any such
media.

            (e) Accredited Investor. Purchaser is an "accredited investor" as
that term is defined in Rule 501(a) under the Securities Act.

<PAGE>

            (f) Legends. Each certificate representing the Notes, the Warrants
and the Conversion Securities may be endorsed with the following legends:

                  (i) Federal Legend. THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT") AND ARE "RESTRICTED SECURITIES" AS DEFINED IN RULE 144
PROMULGATED UNDER THE ACT. THE SECURITIES MAY NOT BE SOLD OR OFFERED FOR SALE OR
OTHERWISE DISTRIBUTED EXCEPT (i) IN CONJUNCTION WITH AN EFFECTIVE REGISTRATION
STATEMENT FOR THE SHARES UNDER THE ACT OR (ii) IN COMPLIANCE WITH RULE 144, OR
(iii) PURSUANT TO AN OPINION OF COUNSEL, THAT SUCH REGISTRATION OR COMPLIANCE IS
NOT REQUIRED AS TO SAID SALE, OFFER OR DISTRIBUTION.

                  (ii) Other Legends. Any other legends required by applicable
state blue sky laws. The Company need not register a transfer of any legended
Note, Warrant or Conversion Securities, and may also instruct its transfer agent
not to register the transfer of the Notes, Warrants or Conversion Securities,
unless the conditions specified in each of the foregoing legends are satisfied.

            (g) Removal of Legend and Transfer Restrictions. Any legend endorsed
on a certificate pursuant to subsection 3(f) and the stop transfer instructions
with respect to such legend shall be removed, and the Company shall issue a
certificate without such legend to the holder of such Note, Warrant or
Conversion Securities if such Note, Warrant or Conversion Securities are
registered under the Securities Act and a prospectus meeting the requirements of
Section 10 of the Securities Act is available or if such holder satisfies the
requirements of Rule 144(k).

            4. Security Interest. The Company hereby grants to the Purchasers a
security interest in all of the Company's right, title and interest in presently
existing and hereafter acquired assets (the "Collateral"), as more fully
described in Exhibit B attached hereto, of the Company to secure the payment of
indebtedness under the Note. The Company agrees to prepare and file any UCC
financing statements and other documentation as may be necessary, and to take
such reasonable actions as may be requested by Purchasers, to perfect
Purchasers' security interest. Pre-existing apparently perfected security
interests, as further described in Exhibit E attached hereto, may be in
existence and may be senior in interest to the security interest granted to
Purchasers hereby. The security interest evidenced by the Note is junior certain
liens arising under or related to the Note and Warrant Purchase Agreement, dated
as of various dates among Salon Media Group, Inc. and the Purchasers identified
therein.

            5. Subordination. The indebtedness evidenced by the Notes
("Subordinated Indebtedness") is hereby expressly subordinated, to the extent
and in the manner hereinafter set forth, in right of payment to the prior
payment in full of all of the Company's Senior Indebtedness (as defined below).

            (a) Definition of Senior Indebtedness. "Senior Indebtedness" shall
mean the principal of (and premium, if any), unpaid interest on and amounts
reimbursed, fees, expenses, costs of enforcement and other amounts due in
connection with any indebtedness of the

<PAGE>

Company to a commercial bank lender Silicon Valley Bank ("Bank"), which may be
incurred from time to time pursuant to an agreement between the Company and
Bank, which credit facility shall not exceed $1,000,000 ("Senior Indebtedness").

            (b) Payment and Remedies Blockage. Other than payouts made by the
Company so as to avoid issuing fractional shares upon conversion of the Notes,
Purchaser will not demand or receive from Company (and Company will not pay to
Purchaser) all or any part of the Subordinated Indebtedness by way of payment,
prepayment, setoff, lawsuit or otherwise, nor will Purchaser exercise any remedy
with respect to the Collateral, nor will Purchaser commence, or cause to
commence, prosecute or participate in any administrative, legal or equitable
action against the Company for so long as any portion of the Senior Indebtedness
remains outstanding. Notwithstanding the foregoing, (i) Purchaser may accept,
and the Company may pay, regularly scheduled interest payments in accordance
with the terms of the Notes provided an Event of Default does not exist under
any document executed in connection with the Senior Indebtedness or would exist
after giving effect to such payment, (ii) in the event that the stockholders of
the Company have not approved the Notes and Warrants, the Company shall repay
any and all Senior Indebtedness then outstanding so as to allow the Company to
pay the Purchasers any and all amounts of principal and accrued interest owing
under the Notes, and (iii) nothing in this Section 5 shall prevent or otherwise
restrict Purchaser from converting the Note into equity securities in accordance
with its terms.

            (c) Lien Subordination. The security interest granted in this
Agreement is subordinate to the security interest that Bank or its successor or
assignee may hold from time to time in the Collateral. Notwithstanding the
respective dates of attachment or perfection of the security interest of
Purchaser and the security interest of Bank, the security interest of Bank shall
at all time be prior to the security interest of Purchaser.

            (d) Bankruptcy, Insolvency. If there shall occur any receivership,
insolvency, assignment for the benefit of creditors, bankruptcy, reorganization,
or arrangements with creditors (whether or not pursuant to bankruptcy or other
insolvency laws), sale of all or substantially all of the assets, dissolution,
liquidation, or any other marshaling of the assets and liabilities of the
Company, no amount shall be paid by the Company in respect of the principal of,
interest on or other amounts due with respect to this Note at the time
outstanding, unless and until the principal of and interest on the Senior
Indebtedness then outstanding shall be paid in full.

            (e) Subrogation. Subject to the payment in full of all Senior
Indebtedness, the holder of the Notes shall be subrogated to the rights of the
holder(s) of such Senior Indebtedness (to the extent of the payments or
distributions made to the holder(s) of such Senior Indebtedness pursuant to the
provisions of this Section 5) to receive payments and distributions of assets of
the Company applicable to the Senior Indebtedness. No such payments or
distributions applicable to the Senior Indebtedness shall, as between the
Company and its creditors, other than the holders of Senior Indebtedness and the
Purchaser, be deemed to be a payment by the Company to or on account of the
Notes; and for purposes of such subrogation, no payments or distributions to the
holders of Senior Indebtedness to which the Purchaser would be entitled except
for the provisions of this Section 5 shall, as between the Company and its
creditors, other than the holders of Senior Indebtedness and the Purchasers, be
deemed to be a payment by the Company to or on account of the Senior
Indebtedness.

<PAGE>

            (f) No Impairment. Nothing contained in this Section 5 shall impair,
as between the Company and Purchasers, the obligation of Company, subject to the
terms and conditions hereof, to pay to the Purchaser the principal hereof and
interest hereon as and when the same become due and payable, or shall prevent
the Purchasers of the Notes, upon default hereunder, from exercising all rights,
powers and remedies otherwise provided herein or by applicable law.

            (g) Reliance of Purchasers of Senior Indebtedness. Purchaser, by its
acceptance hereof, shall be deemed to acknowledge and agree that the foregoing
subordination provisions are, and are intended to be, an inducement to and a
consideration of each holder of Senior Indebtedness, whether such Senior
Indebtedness was created or acquired before or after the creation of the
indebtedness evidenced by this Note, and each such holder of Senior Indebtedness
shall be deemed conclusively to have relied on such subordination provisions in
acquiring and holding, or in continuing to hold, such Senior Indebtedness. No
amendment of this Agreement, the Notes or any other agreements relating to the
Subordinated Indebtedness shall modify the provision of this Section 5 in a way
that could reasonably be expected to impair the subordination of the security
interest or lien that Purchaser may have in the Collateral or the subordination
of any payment rights under the Subordinated Indebtedness. At any time and from
time to time, without notice to Purchaser, Bank may take such actions with
respect to the Senior Indebtedness as Bank, in its sole discretion, may deem
appropriate, including without limitation terminating advances to the Company,
increasing the principal amount up to $1,000,000, extending the time of payment,
increasing applicable interest rates, compromising or otherwise amending the
terms of any documents affecting the Senior Indebtedness, and enforcing or
failing to enforce any rights against the Company or any other person.

            6. Miscellaneous.

            (a) Waivers and Amendments. Any provision of this Agreement other
than the principal amount of the Notes and the number of shares subject to the
Warrants may be amended, waived or modified upon the written consent of the
Company and the Purchasers providing a majority of the aggregate principal
amounts provided pursuant to this Agreement.

            (b) Governing Law. This Agreement shall be governed in all respects
by the laws of the State of Delaware.

            (c) Entire Agreement. This Agreement together with the Notes and
Warrants constitutes the full and entire understanding and agreement between the
parties with regard to the subjects hereof and thereof.

            (d) Notices. Any notice, request or other communication required or
permitted hereunder shall be in writing and shall be duly given upon receipt if
personally delivered or mailed by registered or certified mail, postage prepaid,
or by recognized overnight courier or personal delivery, addressed (i) if to a
Purchaser, at the address or facsimile number of such Purchaser set forth below
such party's name on Exhibit A, or at such other address or

<PAGE>

number as such Purchaser shall have furnished to the Company in writing, or (ii)
if to Company, at 22 Fourth Street, 16th Floor, San Francisco, CA 94103,
Attention: Chief Financial Officer or at such other address as Company shall
furnish to the Purchaser in writing.

            (e) Validity. If any provision of this Agreement, the Notes or the
Warrants shall be judicially determined to be invalid, illegal or unenforceable,
the validity, legality and enforceability of the remaining provisions shall not
in any way be affected or impaired thereby.

            (f) Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be an original, but all of which together
shall be deemed to constitute one instrument.

<PAGE>

            IN WITNESS WHEREOF, the parties have caused this Agreement to be
duly executed and delivered by their proper and duly authorized officers as of
the date and year first written above.

                                                 COMPANY:

                                                 SALON MEDIA GROUP, INC.
                                                 a Delaware corporation

                                                 By: /s/ David Talbot

                                                 Name: David Talbot

                                                 Title: Chairman of the Board

PURCHASER:

John Warnock

By: /s/ John Warnock

<PAGE>

                                    EXHIBIT A
                                    ---------

                             SCHEDULE OF PURCHASERS

-------------------------------------- -----------------------------------------
John Warnock                                              $100,000

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

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

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

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