1 1. Executive Summary 2. Networks 3. Distribution & Ad Sales 4. Production 5. Appendix

2 Networks – Market Environment Competition continues to increase (i.e., Fox and NBCU) Costs to acquire programming continue to escalate Macro economy has slowed ad sales growth – Key ad markets expected to grow ~10%; 15% assumed in MRP due to increased performance (improved market share) – Subscriber revenue growth of ~5%-10% in key regions; MRP in-line with growth Numerous opportunities remain to acquire or launch new networks with significant returns when others can’t invest Cable digitalization creates opportunities for channel carriage for those with well established brands and operations in the region

3 Networks – Strategic Priorities Latin America Europe U.S. Re-launch channels in Korea for larger scale Enter China through online venture Determine new Australia strategy Re-invigorate SET brand Establish long-term strategy independent of HBO Migrate operations from Caracas to Miami Explore launch of new brand Establish multi-channel presence in Italy Maintain commitment to Russia despite current challenges Search for partner to defray risk of Spain DTT network Launch FEARnet as a linear channel Develop U.S. strategy to exploit SPE brands – SET HD Global Initiatives Asia Pacific Introduce HD feeds as markets evolve, including in Latin America, Italy, and Japan Reposition Animax to increase relevance to youth segment and broaden audience Continue to invest in original multi-screen programming to attract broader advertiser base and reduce dependence on acquired product Evolve 3D strategy Retain disciplined cost controls, continue to grow margins

4 Networks – SPT India Update Hired new CEO and SET business head Renegotiated IPL contract – good season 2 results; prepping for season 3 Implementing new programming strategy. Slow build, ratings stabilizing SAB enjoying good growth Private equity process underway; currently evaluating first round bids MRP shows solid growth through “blocking and tackling.” Need management to stay focused and disciplined Turn cash positive during the MRP time period Improve India Operations and Invest for Future Success Continue to capitalize on success of IPL with addition of two new teams Continue to invest in programming and marketing Launch sports channel Continue regional channel investment Improve Existing Operations Invest for Future Success

5 Networks – Growth Opportunities Animax/AXN – full penetration in Korea India sports channel TV1-Hallmark – Australia swap SET HD – US SET Max – Italy channel GXT – Italy channel Tamil channel MGM channels Cine Latino – US/Latin Spanish language movie channel

6 Networks – Financial Summary RevenueEBIT FY10 Budget/Q2 FY11 Prior/MRP FY12 Prior/MRP FY13 MRP $206 $193 $241 $257 $163 $140 $406 (1)Change in equity income on assumed HBO Sale. Prior MRP EBIT includes $19MM in FY11 and $20.9MM in FY12 for HBO Latin America and HBO Central Europe (2)CAGR excludes GSN Gain and HBO Gain FY10 Budget/Q2 FY11 Prior/MRP FY12 Prior/MRP FY13 MRP (1) $1,092 $1,059 $1,167 $1,165 $955 $832 $834 29% CAGR (2) 12% CAGR

7 FEARnet Linear Strategy Execute on reconstituted partnership with Comcast and Lions Gate – Equal governance with SPE/Lions Gate retaining operational control SPE/Lions Gate to provide back-office/support services Close Comcast linear carriage agreement plus one other key player (DirecTV, Time Warner, Echostar) prior to greenlight Launch linear service using existing FEARnet management & infrastructure Preliminary view - $40MM deepwater mark over four years split by SPE/Lions Gate; cumulative cash-flow breakeven in Year 8

8 FEARnet Financial Summary SPT Share of Net Loss/IncomeSPT Share of Cash Funding

9 GSN Update SPT Share of Net Loss/IncomeSPT Share of Dividends(Funding) Note: FY11 – FY13 assumes no sale of our remaining 35% Note: FY10Q2 includes sale of 15% to Liberty in 2009 ($90MM net of $63MM investment in FUN) FY10 Budget/Q2 FY11 Prior/MRP FY12 Prior/MRP FY13 MRP $104