1. Confidential Starz Deal Overview of Benefits for Sony-owned Platforms January 9, 2009

2. Confidential 1 Starz Deal Overview In exchange for substantial license fees, our previous Starz deal licensed exclusive rights to our films during the Pay window through 2013 Like other Pay TV channels (HBO, Showtime) Starz’ exclusivity placed certain restrictions on the studio’s ability to offer on-demand services through traditional customers (MSOs, DBS) and owned platforms (BIVL, PSN) Under our new deal through 2016, we have significantly improved our ability to offer on-demand services including some new rights specific to Sony-owned platforms –PPV / VOD / EST  Cable / broadband / IPTV -- Broadened our rights to offer PPV / VOD / EST for final 3 months of Pay 1 and Pay 2, subject to minimum pricing  New media – Retained ability to offer PPV / VOD / EST over the internet at any time (including during Starz window) and clarified that we can offer PPV / VOD / EST on mobile and future media services at any time –PPV / VOD viewing period -- extended viewing period from 24 hours to 72 hours –Free on-demand -- Secured right to bundle 2 “free on demand” titles per year with Sony products >$100 at any time for up to 2 months –Starz Internet Service -- Secured MFN, ensuring Sony can offer the Starz linear Pay TV or subscription on-demand channel on Sony internet platforms with favorable terms –Pay TV over Mobile -- obtained right to exhibit 6 titles (<$50m DBO) per year on our mobile linear Pay TV channels during network window –EST -- Reduced EST pricing floor during Pay 2 –Open Market -- Clarified our right to offer digital locker re-delivery of PPV / VOD / EST

3. Confidential 2 Deal prohibited PPV / VOD / EST on cable, satellite, and IPTV platforms during Starz window Permitted PPV / VOD / EST on internet services any time, including during Starz window Deal TermsImplications PPV / VOD / EST During Starz Window If BIVL or PSN is delivered over the open internet (i.e., not a closed system) or operated as a web site service they could offer PPV / VOD / EST titles at any time, including during Starz window If BIVL or PSN morphed into an IPTV provider (effectively a cable competitor) they were prohibited from offering PPV / VOD / EST titles during Starz window Previous Starz DealNew Starz Deal Secured rights to offer PPV / VOD / EST on cable, satellite, and IPTV platforms during last 3 months of Pay 1 and last 3 months of Pay 2 Retains right to offer PPV / VOD / EST when delivered over the open internet (including BIVL and PSN when not as a closed system) and adds rights for mobile and any future media at any time, including during Starz window If BIVL and PSN become closed systems, adds rights for PPV / VOD / EST to overlap with Starz windows during last 3 months of Pay 1 and last 3 months of Pay 2 Adds mobile rights to PPV / VOD / EST to the same extent as rights over open internet

4. Confidential 3 Sony’s PPV / VOD offerings (through MSOs, DBS, and owned platforms) was limited to a 24 hour viewing period Sony’s PPV / VOD offerings (through MSOs, DBS, and owned platforms) extended to a 72 hour viewing period Deal TermsImplications PPV / VOD Viewing Period Limited the value of potential VOD offerings on BIVL and PlayStation Limited our ability to drive PPV / VOD revenue through 3 rd parties Previous Starz DealNew Starz Deal Significantly increases the value and appeal of PPV / VOD offerings on Sony platforms and 3 rd party providers

5. Confidential 4 Sony was not allowed to offer pictures on a free-on demand basis prior to the end of Pay 1 Sony is allowed to exhibit 2 pictures per year on FOD basis at any time including prior to the end of Pay 1, if bundled with a Sony consumer electronics product priced > $100 in a single transaction and promotion can be up to 2 months per picture No box office restriction (can offer our best titles) No timing restrictions (can offer at any time after theatrical release) Deal TermsImplications Free On-demand and Implications for Sony Hardware Bundles “Hancock” was not able to be bundled “free” with the purchase of a BIVL Previous Starz DealNew Starz Deal Going forward, Sony can bundle a free on-demand viewing of our two biggest titles each year with the purchase of a BIVL, PlayStation, or other Sony hardware or service so long as it is priced > $100 in a single transaction

6. Confidential 5 Starz could make subscription make subscription on-demand offerings available on its own platforms (e.g., Vongo) or through third parties (e.g., Fancast for Comcast cable customers) without allowing Sony to offer Starz Play on our own platforms Starz must make Starz Play available for Sony internet platforms (e.g., PSN and BIVL) directly or through partners on no less favorable terms than those offered to third parties, provided however Sony must match all terms and conditions including technical implementation MFN on service terms is in place through February 2012 Deal TermsImplications Subscription on-demand during Starz Window Created risk of Starz Play channel being available in multiple places online, yet not on PSN and BIVL Previous Starz DealNew Starz Deal Provides BIVL and PlayStation leverage for favorable deal terms through February 2012

7. Confidential 6 Subscription on-demand was not allowed during the network window (between Pay 1 and Pay 2) Obtained right to exhibit 6 titles (with under $50MM in domestic box) per year on Crackle / Pix mobile pay television channels during the network window Deal TermsImplications Mobile Crackle and Pix mobile could only have library titles on pay television (non-ad supported) channels Previous Starz DealNew Starz Deal Enables Crackle and Pix to introduce quality titles into subscription mobile channels earlier

8. Confidential 7 EST was allowed in Starz window but with pricing floors Wholesale pricing floor during Pay 2 was $6.95 Wholesale pricing floor during Pay 2 reduced to $3.48 Deal TermsImplications EST Pricing Floor During Pay 2 Pricing floor was unrealistically high for older (Pay 2) titles, limiting the EST business Previous Starz DealNew Starz Deal More realistic pricing will help grow EST during the Pay 2 window

9. Confidential 8 Prohibited an Open Market “digital locker” redelivery of a film purchased via the internet during the Starz windows Allows an Open Market “digital locker” redelivery during the Starz windows Deal TermsImplications Digital Locker and the Open Market Philosophy Titles initially purchased from BIVL and PSN could not later be re-delivered through other services (e.g., cable STB or mobile carriers to cell phones) during the Starz windows Restrictions limited the feasibility of the Open Market initiative and created a confusing consumer offering Previous Starz DealNew Starz Deal Improves the value of EST on BIVL and PSN platforms Provides benefits for the Open Market initiative