Document:

EXHIBIT 4.2.61
                                                                  --------------

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, Ironstone Group, Inc.
(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 150,000.

            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

<PAGE>

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.

<PAGE>

                        (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

<PAGE>

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

<PAGE>

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 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 4.2.62
                                                                  --------------

THIS NOTE AND ANY SHARES ACQUIRED UPON CONVERSION OF THIS NOTE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), AND MAY NOT
BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE
REGISTRATION STATEMENT UNDER SUCH ACT COVERING THIS NOTE, THE SALE IS MADE IN
ACCORDANCE WITH RULE 144 UNDER THE ACT, OR THE COMPANY RECEIVES AN OPINION OF
COUNSEL FOR THE HOLDER OF THIS NOTE REASONABLY SATISFACTORY TO THE COMPANY,
STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE
REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.

                             SALON MEDIA GROUP, Inc.

                           CONVERTIBLE PROMISSORY NOTE
                           ---------------------------

$100,000                                                        October 30, 2003

            Salon Media Group, Inc., a Delaware corporation (the "Company"), for
value received, hereby promises to pay to John Warnock ("Holder"), the principal
sum of One Hundred Thousand Dollars ($100,000) with interest as provided below.

            1. Payment.

            (a) Payment. Subject to the provisions of Section 3 hereof relating
to the conversion of this Note, principal and accrued interest hereof shall be
payable on the earlier of (i) the date of the next meeting of the Company's
stockholders at which a proposal seeking the approval of the sale of the Bridge
Notes (as defined below) is voted upon and is not approved by the Company's
stockholders, or (ii) December 31, 2003 (the "Maturity Date"). Payments
hereunder shall be made by the Company to the Holder, at the address as provided
to the Company by the Holder in writing, in lawful money of the United States of
America. Interest shall accrue with respect to the unpaid principal amount of
the loan from the date of this Note until such principal is paid or converted as
provided in Section 3 hereof at a rate of six percent (6%) per annum (computed
on the basis of a 365-day year).

            (b) Prepayment. The Company shall have the right at any time and
without penalty to prepay, in whole or in part, the principal outstanding and/or
the interest accrued hereunder.

            2. Certain Definitions.

            (a) "Bridge Notes" shall mean the series of notes, of which this
Note is a part, dated on or about the date hereof, each of which are identical,
other than the date of the Note, identity of the Holder and principal amount of
this Note.

<PAGE>

            (b) "Financing" shall mean the first closing of the proposed Series
C Preferred Stock.

            (c) "Financing Securities" shall mean the shares of equity
securities of the Company sold in the Financing.

            (d) "Obligations" shall mean all outstanding principal and accrued
interest due hereunder.

            3. Conversion.

            (a) Automatic Conversion Upon Financing. This Note shall
automatically convert into the Financing Securities upon the closing of the
Financing.

            (b) Conversion Absent Financing by December 31, 2003. If no
Financing shall have occurred by the close of business on December 31, 2003,
then this Note shall be convertible at the option of the Holder into shares of
Common Stock. Notwithstanding the foregoing, the Note shall only be convertible
into Common Stock at such time as the Company's stockholders have approved an
amendment to the Company's certificate of incorporation increasing the
authorized shares of Common Stock to a level which would permit the conversion
of all of the Note into Common Stock.

            (c) Conversion Price Upon Financing. In the event of an automatic
conversion pursuant to subsection 3(a) hereof, the number of shares of the
Financing Securities to be issued upon conversion of the Obligations shall equal
the aggregate amount of the Obligations divided by the price per share of the
Financing Securities issued and sold in the Financing.

            (d) Conversion Price Absent Financing by December 31, 2003. In the
event of an automatic conversion pursuant to subsection 3(b) hereof, the number
of shares of the Common Stock to be issued upon conversion of this Note shall
equal the aggregate amount of the Obligations divided by the average closing
price of the Common Stock over the sixty (60) trading days ending September 30,
2003 or December 31, 2003, whichever is lower, as reported on such market(s)
and/or exchange(s) where the Common Stock has traded during such sixty day
trading period.

            (e) Notice Regarding Financing. Written notice shall be delivered to
the Holder of this Note pursuant to Section 7 below notifying the Holder of the
terms and conditions of the Financing, the applicable conversion price, the date
on which any automatic conversion occurred and calling upon such Holder to
surrender the Note to the Company for cancellation and conversion in the manner
and at the place designated.

            (f) Mechanics and Effect of Conversion. No fractional shares of
Financing Securities or Common Stock shall be issued upon conversion of this
Note. Notwithstanding any other provision of this Note or the Note and Warrant
Purchase Agreement, upon the conversion of the Obligations under this Note, in
lieu of the Company issuing any fractional shares to the Holder, the Company
shall pay to the Holder in cash the amount of the Obligations that is not so
converted. Upon conversion of this Note pursuant hereto, the Holder shall
surrender this Note,

<PAGE>

duly endorsed, at the principal office of the Company and shall execute such
documents as are reasonably required to be executed by all purchasers of the
Financing Securities. The Company shall, as soon as practicable thereafter,
issue and deliver to such Holder at such principal office a certificate or
certificates for the number of shares of the Financing Securities or Common
Stock to which the Holder shall be entitled upon such conversion (bearing such
legends as are required by applicable state and federal securities laws in the
opinion of counsel to the Company), together with any other securities and
property to which the Holder is entitled upon such conversion under the terms of
this Note. Upon full conversion of this Note pursuant to the terms hereof, the
Company shall be forever released from all its obligations and liabilities under
this Note. Upon conversion of this Note into Financing Securities or Common
Stock, the Holder shall be entitled to all rights and privileges afforded by the
Company to other holders of such Financing Securities or Common Stock.

            4. Events of Default. The occurrence of any of the following shall
constitute an "Event of Default" under this Note and the Note and Warrant
Purchase Agreement of even date herewith (the "Purchase Agreement"):

            (a) Failure to Pay. The Company shall fail to pay (i) when due any
principal payment on the due date hereunder or (ii) any interest or other
payment required under the terms of this Note on the date due and such payment
shall not have been made within fifteen (15) days of Company's receipt of
Holder's written notice to the Company of such failure to pay; or

            (b) Voluntary Bankruptcy or Insolvency Proceedings. The Company
shall (i) apply for or consent to the appointment of a receiver, trustee,
liquidate or custodian of itself or of all or a substantial part of its
property, (ii) make a general assignment for the benefit of its or any of its
creditors, (iii) be dissolved or liquidated in full or in part, (iv) commence a
voluntary case or other proceeding seeking liquidation, reorganization or other
relief with respect to itself or its debts under any bankruptcy, insolvency or
other similar law now or hereafter in effect or consent to any such relief or to
the appointment of or taking possession of its property by any official in an
involuntary case or other proceeding commenced against it, or (v) take any
action for the purpose of effecting any of the foregoing; or

            (c) Involuntary Bankruptcy or Insolvency Proceedings. Proceedings
for the appointment of a receiver, trustee, liquidator or custodian of the
Company or of all or a substantial part of the property thereof, or an
involuntary case or other proceedings seeking liquidation, reorganization or
other relief with respect to the Company or the debts thereof under any
bankruptcy, insolvency or other similar law or hereafter in effect shall be
commenced and an order for relief entered or such proceeding shall not be
dismissed or discharged within thirty (30) days of commencement.

            5. Rights of Holder Upon Default. Subject to the provisions set
forth in Sections 5 and 6 of the Purchase Agreement, upon the occurrence or
existence of any Event of Default (other than an Event of Default referred to in
Paragraphs 4(c) and 4(d)) and at any time thereafter during the continuance of
such Event of Default, Holder may declare all outstanding Obligations payable by
Company hereunder to be immediately due and payable without presentment, demand,
protest or any other notice of any kind, all of which are hereby expressly
waived, anything contained herein or in the Purchase Agreement to the contrary
notwithstanding. Upon

<PAGE>

the occurrence or existence of any Event of Default described in Paragraphs 4(c)
and 4(d), immediately and without notice, all outstanding Obligations payable by
Company hereunder shall automatically become immediately due and payable,
without presentment, demand, protest or any other notice of any kind, all of
which are hereby expressly waived, anything contained herein or in the Purchase
Agreement to the contrary notwithstanding. In addition to the foregoing
remedies, upon the occurrence or existence of any Event of Default and subject
to the provisions of Sections 5 and 6 of the Purchase Agreement, Holder may
exercise any other right, power or remedy granted to it by the Purchase
Agreement or otherwise permitted to it by law, either by suit in equity or by
action at law, or both.

            6. Security Interest. The satisfaction of the Obligations hereunder
are secured by a security interest in favor of the Purchasers in all of the
Company's right, title and interest in presently existing and hereafter acquired
assets as provided for in Section 4 of the Purchase Agreement.

            7. Miscellaneous.

            (a) Amendment Provisions. Any provision of this Note other than the
principal amount and identity of the Holder may be amended, waived or modified
upon the written consent of the Company and the parties providing at least a
majority of the aggregate principal amounts provided pursuant to the Bridge
Notes.

            (b) Severability. If any provision of this Note is determined to be
invalid, illegal or unenforceable, in whole or in part, the validity, legality
and enforceability of any of the remaining provisions or portions of this Note
shall not in any way be affected or impaired thereby and this Note shall
nevertheless be binding between the Company and the Holder.

            (c) Governing Law. This Note shall be governed by and construed in
accordance with the laws of the State of Delaware.

            (d) Binding Effect. This Note shall be binding upon, and shall inure
to the benefit of, the Company and the Holder and their respective successors
and assigns; provided, however, that the Company may not assign its obligations
hereunder without the Holder's prior written consent.

            (e) Enforcement Costs. The Company agrees to pay all costs and
expenses, including, without limitation, reasonable attorneys' fees and
expenses, the Holder expends or incurs in connection with the enforcement of
this Note, the collection of any sums due hereunder, any actions for declaratory
relief in any way related to this Note, or the protection or preservation of any
rights of the Holder hereunder.

            (f) 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
Holder, at the address or facsimile number of such Holder as set forth below
such party's name on Exhibit A to the Purchase Agreement, or at such other
address or number as such Holder shall have furnished to the Company in writing,
or

<PAGE>

(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.

            (g) Payment. Payment shall be made in lawful tender of the United
States.

            (h) Transfer of Note or Securities Issuable on Conversion Hereof.
This Note or the securities issuable on conversion hereof may not be transferred
in violation of any restrictive legend set forth hereon or thereon. Each new
Note issued upon transfer of this Note, and each security issuable on conversion
hereof, shall bear the restrictive legend set forth below, unless in the opinion
of counsel for Company such legend is not required in order to ensure compliance
with the Act:

            "THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
            UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD OR
            OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
            STATEMENT FILED UNDER SUCH ACT OR PURSUANT TO AN EXEMPTION FROM
            REGISTRATION UNDER SUCH ACT."

The Company may issue stop transfer instructions to its transfer agent in
connection with such restrictions. Subject to the foregoing, transfers of this
Note shall be registered upon registration books maintained for such purpose by
or on behalf of the Company as provided in the Purchase Agreement. Prior to
presentation of this Note for registration of transfer, the Company shall treat
the registered holder hereof as the owner and holder of this Note for the
purpose of receiving all payments of principal and interest hereon and for all
other purposes whatsoever, whether or not this Note shall be overdue and Company
shall not be affected by notice to the contrary.

            (i) Headings. Section headings used in this Note have been set forth
herein for convenience of reference only. Unless the contrary is compelled by
the context, everything contained in each section hereof applies equally to this
entire Note.

            IN WITNESS WHEREOF, the Company has caused this Note to be issued as
of the date first written above.

                                                    Salon Media Group, Inc.

                                                    By: /s/ David Talbot

                                                    Name: David Talbot

                                                    Title: Chairman of the Board

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00058-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00058-of-00352.parquet"}]]