Document:

Second Supplemental Indenture to the Indenture dated November 18, 2004

 Exhibit 4.50 
  
 SECOND SUPPLEMENTAL INDENTURE 
  

SECOND SUPPLEMENTAL INDENTURE, dated as of August 30, 2005, among CanWest Media Inc. (“CMI”), 4309626 Canada Inc.
(“4309626”), National Post Holdings Ltd. (“Post Holdings”), GTNQ Holdings Inc. (“GTNQ Holdings”), and The Bank of New York, as trustee (the “Trustee”). 
  
 WHEREAS, CMI, the guarantors thereunder and the Trustee are parties to that
certain indenture, dated as of November 18, 2004 (as amended and supplemented to the date hereof, the “Indenture”); 
  
 WHEREAS, Section 8.01 of the Indenture permits CMI and any Guarantor, when authorized by a Board Resolution of each of them, and the Trustee to
supplement the Indenture without notice to or consent of any Noteholder to add a Guarantor; 
  
 WHEREAS, on the date hereof, each of 4309626, Post Holdings and GTNQ Holdings (each, a “New Guarantor”) has guaranteed or otherwise become liable with respect to the indebtedness of CMI under the
credit agreement dated as of November 7, 2000 among CMI, as borrower, CanWest Global Communications Corp., as guarantor, The Bank of Nova Scotia, as administrative agent, and such other Persons (as that term is defined in the Credit Facility)
as may from time to time be parties to the Credit Agreement (as amended, the “Credit Facility”); 
  
 WHEREAS, each of New Guarantors wishes to provide a Guarantee (as defined in the Indenture) under the Indenture in accordance with Sections 4.14 and 11.04
thereunder; 
  
 WHEREAS, the Boards of Directors of CMI and each
of the New Guarantors have authorized this Second Supplemental Indenture; and 
  
 WHEREAS, all things necessary to make this Second Supplemental Indenture a valid supplement to the Indenture according to its terms and the terms of the Indenture have been done. 
  
 NOW, THEREFORE, each party agrees as follows for the benefit of the other
parties and for the equal and ratable benefit of Holders of the Notes: 
  
 ARTICLE I 
  
 GUARANTEES 
  
 Section 1.1. Each of the New Guarantors hereby expressly assumes
the obligations of a Guarantor under the Indenture, as evidenced by this Supplemental Indenture and its execution of a Guarantee in the form required under the Indenture. 
  
 Section 1.2. In accordance with Section 4.14 of the Indenture, the Guarantee of each New Guarantor provided
under Section 1.1 hereunder shall be automatically and unconditionally 

 
released and discharged, without any further action required on the part of the Trustee or any Holder of Notes, upon: 
  
 (1) the unconditional release of such New Guarantor from its liability in
respect of the Indebtedness under the Credit Facility; or 
  
 (2)
any sale or other disposition (by merger or otherwise) to any Person that is not a Restricted Subsidiary of a controlling interest in, or all or substantially all of the assets of, such New Guarantor; provided that: 
  
 (a) such sale or disposition of such controlling interest or assets is
otherwise in compliance with the terms of the Indenture; and 
  
 (b) such assumption, guarantee or other liability of such New Guarantor has been released by the Holders of the Other Indebtedness so guaranteed. 
  
 ARTICLE II 
  
 OTHER PROVISIONS 
  
 Section 2.1. All capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them in the Indenture. 
  
 Section 2.2. THIS SECOND SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK,
WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS SECOND SUPPLEMENTAL INDENTURE,
THE NOTES OR THE GUARANTEES. 
  
 Section 2.3. All
agreements of CMI and the New Guarantors in this Second Supplemental Indenture shall bind their respective successors. All agreements of the Trustee in this Second Supplemental Indenture shall bind its successors. 
  
 Section 2.4. The parties may sign multiple counterparts of this
Second Supplemental Indenture. Each signed counterpart shall be deemed an original, but all of them together represent one and the same agreement. 
  
 Section 2.5. The parties to this Second Supplemental Indenture have expressly requested that this Second Supplemental Indenture and all
related notices, amendments and other documents be drafted in the English Language. Les parties a la présente convention ont expressément exigé que cette convention et tous les avis, modifications et autres documents y
afférents soient rédigés en langue anglaise seulement. 
  
 Section 2.6. Except as amended hereby, the Indenture and the Notes are in all respects ratified and confirmed and all the terms shall remain in full force and effect. 
  

 2 

 [signature pages follow] 
  

 3 

 IN WITNESS WHEREOF, the parties have caused this Second Supplemental Indenture to be duly executed, all
as of the date and year first written above. 
  

					
	 CANWEST MEDIA INC.

		
	 By:
	 	 
	 	 	 Name:
	 	 John Maguire

	 	 	 Title:
	 	 Chief Financial Officer

		
	 By:
	 	 
	 	 	 Name:
	 	 Richard M. Leipsic

	 	 	 Title:
	 	 Vice-President and General Counsel

	
	 4309626 CANADA INC.

		
	 By:
	 	 
	 	 	 Name:
	 	 Richard M. Leipsic

	 	 	 Title:
	 	 President

		
	 By:
	 	 
	 	 	 Name:
	 	 Riva J. Richard

	 	 	 Title:
	 	 Secretary

	
	 GTNQ HOLDINGS INC.

		
	 By:
	 	 
	 	 	 Name:
	 	 Richard M. Leipsic

	 	 	 Title:
	 	 President

		
	 By:
	 	 
	 	 	 Name:
	 	 Riva J. Richard

	 	 	 Title:
	 	 Secretary

	
	 NATIONAL POST HOLDINGS LTD.

		
	 By:
	 	 
	 	 	 Name:
	 	 Richard M. Leipsic

	 	 	 Title:
	 	 President

		
	 By:
	 	 
	 	 	 Name:
	 	 Riva J. Richard

	 	 	 Title:
	 	 Secretary

  

 4 

					
	 THE BANK OF NEW YORK,
 as Trustee

		
	 By:
	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

 5Third Supplemental Indenture to the Indenture dated November 18, 2004

 Exhibit 4.51 
  
 THIRD SUPPLEMENTAL INDENTURE 
  

THIRD SUPPLEMENTAL INDENTURE, dated as of August 31, 2005, among CanWest Media Inc. (“CMI”), New CMPI, as defined below,
and The Bank of New York, as trustee (the “Trustee”). 
  
 WHEREAS, CMI, the guarantors thereunder and the Trustee are parties to that certain indenture, dated as of November 18, 2004 (as amended and supplemented to the date hereof, the “Indenture”); 
  
 WHEREAS, Section 8.01 of the Indenture permits CMI and any Guarantor,
when authorized by a Board Resolution of each of them, and the Trustee to supplement the Indenture without notice to or consent of any Noteholder to comply with Section 5.01 of the Indenture or to add a Guarantor; 
  
 WHEREAS, on the date hereof, New CMPI has guaranteed or otherwise become
liable with respect to the indebtedness of CMI under the credit agreement dated as of November 7, 2000 among CMI, as borrower, CanWest Global Communications Corp., as guarantor, The Bank of Nova Scotia, as administrative agent, and such other
Persons (as that term is defined in the Credit Facility) as may from time to time be parties to the Credit Agreement (as amended, the “Credit Facility”); 
  
 WHEREAS, New CMPI wishes to provide a Guarantee (as defined in the Indenture) under the Indenture in accordance with
Sections 4.14 and 11.04 thereunder; 
  
 WHEREAS, on the date
hereof: (i) each of the corporations listed on Exhibit A hereto (the “Print Entities”) amalgamated to form CanWest MediaWorks Publications Inc. (“Old CMPI”) and (ii) 4309626 Canada Inc.
(“4309626”) and Old CMPI amalgamated to form a new company also called CanWest MediaWorks Publications Inc. (“New CMPI”); 
  
 WHEREAS, in accordance with Section 5.01 of the Indenture New CMPI wishes to assume the obligations of 4309626, Old CMPI and the Print Entities, as
the case may be, under the Indenture, the Notes and the Guarantees; 
  
 WHEREAS, the Boards of Directors of CMI and New CMPI have authorized this Third Supplemental Indenture; and 
  
 WHEREAS, all things necessary to make this Third Supplemental Indenture a valid supplement to the Indenture according to its terms and the terms of the
Indenture have been done. 
  
 NOW, THEREFORE, each party agrees as
follows for the benefit of the other parties and for the equal and ratable benefit of Holders of the Notes: 

 ARTICLE I 
  
 ASSUMPTION OF OBLIGATIONS 
  
 Section 1.1. New CMPI hereby expressly assumes all of the obligations of 4309626, Old CMPI and the Print Entities, as the case may be, under
the Indenture, the Notes and the Guarantees, as evidenced by this Supplemental Indenture and its execution of a Guarantee in the form required under the Indenture. 
  
 Section 1.2. In accordance with Section 4.14 of the Indenture, the Guarantee of New CMPI provided under
Section 1.1 hereunder shall be automatically and unconditionally released and discharged, without any further action required on the part of the Trustee or any Holder of Notes, upon: 
  
 (1) the unconditional release of New CMPI from its liability in respect of the Indebtedness under the Credit Facility; or

  
 (2) any sale or other disposition (by merger or otherwise) to
any Person that is not a Restricted Subsidiary of a controlling interest in, or all or substantially all of the assets of, New CMPI; provided that: 
  
 (a) such sale or disposition of such controlling interest or assets is otherwise in compliance with the terms of the Indenture; and 
  
 (b) such assumption, guarantee or other liability of New CMPI has been
released by the Holders of the Other Indebtedness so guaranteed. 
  
 ARTICLE II 
  
 OTHER PROVISIONS 
  
 Section 2.1. All capitalized terms used and not otherwise defined
herein shall have the meanings ascribed to them in the Indenture. 
  
 Section 2.2. THIS THIRD SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. EACH OF THE PARTIES HERETO AGREES TO
SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS THIRD SUPPLEMENTAL INDENTURE, THE NOTES OR THE GUARANTEES. 
  
 Section 2.3. All agreements of CMI and New CMPI in this Third Supplemental Indenture shall bind their respective
successors. All agreements of the Trustee in this Third Supplemental Indenture shall bind its successors. 
  

 2 

 Section 2.4. The parties may sign multiple counterparts of this Third Supplemental Indenture.
Each signed counterpart shall be deemed an original, but all of them together represent one and the same agreement. 
  
 Section 2.5. The parties to this Third Supplemental Indenture have expressly requested that this Third Supplemental Indenture and all related
notices, amendments and other documents be drafted in the English Language. Les parties a la présente convention ont expressément exigé que cette convention et tous les avis, modifications et autres documents y afférents
soient rédigés en langue anglaise seulement. 
  
 Section 2.6. Except as amended hereby, the Indenture and the Notes are in all respects ratified and confirmed and all the terms shall remain in full force and effect. 
  
 [signature pages follow] 
  

 3 

 IN WITNESS WHEREOF, the parties have caused this Third Supplemental Indenture to be duly executed, all as
of the date and year first written above. 
  

					
	 CANWEST MEDIA INC.

		
	 By:
	 	 
	 	 	 Name:
	 	 John Magure

	 	 	 Title:
	 	 Chief Financial Officer

		
	 By:
	 	 
	 	 	 Name:
	 	 Richard M. Leipsic

	 	 	 Title:
	 	 Vice-President and General Counsel

	
	 CANWEST MEDIAWORKS PUBLICATIONS INC.

		
	 By:
	 	 
	 	 	 Name:
	 	 Richard M. Leipsic

	 	 	 Title:
	 	 Vice-President

		
	 By:
	 	 
	 	 	 Name:
	 	 Riva J. Richard

	 	 	 Title:
	 	 Secretary

  

 4 

					
	 THE BANK OF NEW YORK,
 as Trustee

		
	 By:
	 	 
	 	 	 Name:
	 	 
	 	 	 Title:
	 	 

  

 5 

 Exhibit A 
  
 CanWest Publications Inc. 
  
 CanWest Interactive Inc. 
  
 CanWest – Montreal R.P. Holdings Inc. 
  
 CanWest-Windsor R.P. Holdings Inc. 
  
 Montreal Gazette Group Inc.

  
 Ottawa Citizen Group Inc. 
  
 Windsor Star Group Inc. 
  
 Saskatoon StarPhoenix Group Inc. 
  
 Regina Leader Post Group Inc. 
  
 Edmonton Journal Group Inc. 
  
 Calgary Herald
Group Inc. 
  
 Lower Mainland Publishing Group Inc. 
  
 Pacific Newspaper Group Inc. 
  
 Victoria Times Colonist Group Inc. 
  

 6

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