EXHIBIT 4.7


                                SECOND AMENDMENT
                                ----------------
                                       OF
                                       --
                          CHICAGO TRIBUNE TAX DEFERRED
                          ----------------------------
                         INVESTMENT PLAN FOR MACHINISTS
                         ------------------------------


                  WHEREAS, effective as of January1, 1986, and pursuant to an
agreement between Chicago Tribune Company (the "Company") and the International
Association of Machinists, Local 126, the Company established the Chicago
Tribune Tax Deferred Investment Plan For Machinists (the "Plan"); and

                  WHEREAS, the Plan was previously amended and further amendment
of the Plan is now considered desirable;

                  NOW, THEREFORE, by virtue and in exercise of the power
reserved to the Company by Section 10.1 of the Plan, the Plan be and it hereby
is amended, effective January1, 1998, as follows:

                  1.       By substituting the following for Section 7.3 of
the Plan:

         "7.3     Payment of Benefits

                  When a Participant or a Beneficiary of a deceased Participant
         becomes entitled to a distribution pursuant to Section 7.1 the amount
         available for distribution shall be paid in a lump sum consisting of
         one or more payments; provided, that all of such payments shall be made
         within one taxable year of the recipient; provided further if a
         Participant's vested account balance at the time of distribution (or
         any prior distribution) exceeds $5,000, distribution shall not be made
         to the Participant before he attains age 65 unless he consents
         thereto."

                  2.       By substituting "$5,000" for "$3,500" wherever the
latter appears in Section 7.4 of the Plan.