1. Mid Range Plan Fiscal Years 2008-2011 November 2007

2. 2 Agenda Executive Summary Core Programs Programming Ad-Supported Digital Networks Strategic Investments Distribution and Licensing SPHE & SPTI Contribution to SPT Product Ad Sales APPENDIX: Financial Slides

3. 3 Expand VOD and broadband distribution to sustain FEARnet’s initial momentum Evaluate ongoing support for GSN as company transforms its business model Explore increased ownership in ITN to drive greater operating leverage Manage increasingly complex rights and windowing strategy Balance needs of traditional partners with emerging digital/mobile distributors Increase monetization of Crackle, expand onsite audience and increase distribution Grow fledgling brands to scale despite competition from established competitors Partner with networks to ensure strong marketing support for our shows Continue to create hit shows to satisfy a high-level of international demand Forge partnerships to encourage viewing of our programs on DVR Executive Summary Core Programs Maintain revenues as core programs age Translate the value of traditional TV brands into the digital space Programming Digital Networks Strategic Investments Distribution & Licensing Ad Sales Grow business to maintain scale/leverage in an expanding advertising universe Plan addresses strategic challenges and takes advantage of growth opportunities

4. 4 SPT Financial Summary EBITRevenue FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP ($ in MM) FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP ($ in MM) $209 $201 $203 $218 $197 NOTE: Traditional television excluding Digital Networks and Crackle

5. 5 Digital Networks & Distribution Financial Summary EBIT Before ContributionRevenue FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP ($ in MM) EBIT After Contribution FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP ($ in MM) FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP ($ in MM) NOTE: Excluding Crackle and PY MRP restated for headcount and cost transfers.

6. 6 Crackle Financial Summary EBITRevenue FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP ($ in MM) FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP ($ in MM)

7. 7 SPT Total Revenue From all sources of Domestic TV, Internet and Mobile revenue Est. MPG/ACQ. Profit $295$265$322$335 ($ in MM) FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP NOTE: Before Seinfeld producer share $1,491 $1,432 $1,408 $1,448 $1,690 $1,581 $1,621 ($ in MM)

8. 8 Net G&A Expenses & Headcount Net G&AHeadcount (1) PY MRP G&A & headcount restated for headcounts included in SPHE/SPD which has since been transferred to DSD ($3.7M / 7 HC in PY09 and $4M / 7 HC in PY10)

9. CORE PROGRAMS

10. 10 Core Programs Strategy Aggressively seek renewals to capitalize on the demand for digital rights Introduce innovative marketing programs to keep shows top-of-mind Continue to aggressively sell SPT Library product Seek additional revenue sources to help maintain historic revenue levels –Grow ancillary revenues through additional merchandising –Broaden revenue base through digital distribution of full episodes –Expand product offering with online games, DVD games and ringtones

11. 11 “ Seinfeld ” EBIT FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP ($ in MM) In discussions with Turner regarding 4 th cycle renewal, which includes additional digital rights Approach News Corp and NBCU for a deal that includes Fox stations, NBC or Fox cable outlets, and Hulu Releasing DVD compilation in November 2007 Begin DST discussions (iTunes, Amazon) after DVD release Support show through digital marketing (Yahoo viewers’ choice, digital elements for local station’s websites) Despite ad sales inventory being priced among highest in syndication, expect gradual ratings erosion 3rd cycle cleared in 99% HH, guaranteed double run in 86% Domestic DVD sales through FY08: –$320MM since inception  $31M from Season 8 and 9 releases in June and November 2007 Projected sales: FY09: $23MM, FY10: $11M and FY11: $9MM FY08 assumes TBS renewal of $400K per episode FY10 assumes Fox renewal of $1.1mm per episode MRP Assumptions Strategy $38 $40 $20 $38 $55 $21 $18

12. 12 “ The Young & The Restless/Days of Our Lives ” EBIT FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP ($ in MM) Overall Preparing for renewal discussions, complete by end of FY09 Closely monitoring ratings to immediately address any ratings erosion Working closely with Soapnet, CBS, and NBC on coordinated traditional/non-traditional publicity plans Using new media platforms (Facebook, MySpace, YouTube, Crackle) to attract new and younger viewers Working with international to increase overseas sales revenues The Young & The Restless Conducting a "nationwide" talent search to generate publicity Launching Minisodes on CBS.com and other outlets Enhanced digital strategy including behind-the-scenes footage and chats with the actors - posted across the web Using Sony technologies (e.g., may change Y&R to 24p; may use hi-def portable cameras to shoot outdoors) Working closely with SPTI to export creative, operational, and technical knowledge to our Russian production company Days of Our Lives Working with NBC to implement needed creative changes Exploring minisode opportunities Facilitating the integration of the new EP into the show The Young &The Restless: Contractual license fees through 08/09 Renewal assumed at 08/09 fee No production cost growth assumed Days of Our Lives: Contractual license fees through 08/09 Renewal assumed at 08/09 fee No production cost growth assumed Strategy MRP Assumptions $44 $42 $41 $40 $38

13. 13 “ Wheel of Fortune/Jeopardy! ” EBIT NOTE: FY10 variance to prior plan result of FY08 IGT advance. FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP ($ in MM) Production costs and CPM/ratings assumed at levels necessary to hold consistent profit margins Contractual licenses through 11/12 MRP Assumptions Strategy Overall Both shows renewed through the 2011/ 2012 season 5th version of both mobile games to be released in Q1 2008 Explore game-based JV opportunities with leading publishers of console/mobile/online games Wheel of Fortune: 25th anniversary (07/08 season) initiatives include: –Cross-promotion agreement with PEOPLE and their ad clients –Viewer sweepstakes throughout the month of February offering a total of $1 million in cash prizes, provided by Sony Card In talks with QVC for major cross-promotion including a branded week and sales of Wheel of Fortune products under license to Franklin Mint Development of the Wheel of Fortune Lottery Game under license to Scientific Games Launched DVD game to capitalize on additional revenue opportunities Jeopardy! Introduced JEOPARDY! EXP (Extended Play), the first-ever daily extension of a TV property where viewers go to their affiliate's website to play additional/exclusive content Licensed DVD game from MGA has 250,000 advance orders Renewed content and cross-promotion partnerships with New York Times, National Geographic, Discovery and PBS Summer 2008: release of ESPN Jeopardy! board game 2008/2009: release of Rock & Roll Jeopardy! mobile game; possible release of other special interest editions in 6 month intervals Expanded visibility of the brand through Classroom Jeopardy! presentations by the Clue Crew in key markets Renewed agreement with Winnebago for Jeopardy! Brain Bus $118 $96 $91 $85 $91 $102 $92

14. 14 SPT Library Product RevenueEBIT Budget/ Prior MRP Variance $178 ($9) $204 ($20) $186 ($32) Coordinating with other SPE divisions to identify additional opportunities to sell SPT Library product Initiating discussions with new partners to expand distribution of library product (e.g., Shout! Factory) Assuming no demand for TV product on Blu-ray Budget/ Prior MRP Variance $72 ($13) $85 ($1) $74 ($6)

15. PROGRAMMING

16. 16 SPT ’ s Programming Strategy Network/Cable DigitalSyndication Expand relationship with Embassy Row (through acquisition, JV or extended deal) to create a worldwide format business using Michael Davies as an anchor Maintain a portfolio approach to balancing mainstream scripted development with measured, high concept programming Continue to work with network marketing teams on all of our network/cable series Work closely with our international division to develop shows that take advantage of strong international demand Expand our cable footprint and continue to develop new markets by creating programs for emerging networks Produce high-profile, tent-pole MOWs (Mayflower, Raisin in the Sun, Broken Trail) Expand overall deals into Digital Programming relationships (e.g., Barry Sonnenfeld) Establish digital sandbox for talent to participate across emerging platforms Produce original content for our networks Expand on the new Minisodes concept to leverage our existing content for digital distribution –Adding animation and game show blocks –Exploring “10 minute” movie opportunity –Licensing 3 rd party content for Minisodes (e.g., Voltron) Prepare a Power of 10 syndication pilot and sales strategy Work with Michael Davies, Yahoo, and Pepsi to bring The 9 to television syndication Examine new 1st run syndication opportunities and partnerships with Tribune and other station groups in order to guarantee access to key time periods Maximize court TV expertise to create and exploit efficiencies between multiple programs

17. 17 Partnering to Drive DVR Viewership As of October 2007 SPT has met with TiVo and has had discussions with Echostar, Comcast, and DirecTV –TiVo is the only business model that currently offers a clear interactive solution to reach consumers who watch time-shifted programming –Echostar is interested in exploring possibilities around a "cross promotional" on-air campaign using our talent and brands. Comcast has licensed the TiVo Platform and will have similar opportunities as the TiVo model Identify opportunities to engage viewers within the growing DVR community to record SPT programs and view them within the Live+3 window Strike partnerships with TiVo, MSOs and satellite companies to drive viewership of our content on DVR within the Live+3 window Create marketing opportunities for viewers to record full seasons or offer alternative marketing ideas Challenge DVR viewing is eroding traditional network viewership Today 21% of TV Households have DVRs and it is estimated that by 2010 that number will rise to 33% DVR viewing is now incorporated into Live+3 ratings Opportunity Status

18. 18 Days of Our Lives The Watch (pilot) Young & The Restless Rules of Engagement Power of 10 The Kingdom (pilot) My Best Friend’s Girl (pilot) Jesse Stone: Thin Ice (MOW) Comanche Moon (mini) SPT’s Current Program Lineup Cashmere Mafia (11/27/07) Literary Superstars (pilot) Raisin in the Sun (mini) Mayflower (MOW) ‘Til Death Canterbury’s Law (01/16/08) Hackett (pilot) Wheel of Fortune Jeopardy! Judge Hatchett Judge Maria Lopez Judge David Young 10 Items or Less My Boys Family Man (pilot) The Company (miniseries) Breaking Bad (01/08)Boondocks Held Up (pilot) The Shield Rescue Me Damages Spectacular Spider-Man Syndication The Beast (pilot) Danny Fricke (pilot) S.I.S. (pilot/mow) Family Practice (pilot) The Gathering (miniseries)

19. 19 SPT’s Key Writer/Producer Deals Writer/ProducerCurrentIn-DevelopmentEnd Date  Darren Star, Inc.  Cashmere Mafia  Literary Superstars, BBDO Project, The Ethicist, Flyswatters, Diary of a Manhattan Call Girl  05/30/08  25c (Sarah Timberman)  N/A  Hackett, Danny Fricke, Raffic, Unt Wallace & Wolfe, Brooklyn Pediatricians  06/08/09  Happy Madison  Rules of Engagement  Unt Adam Goldberg, Gay Robot, Robin Hood Medical, Unt Brad Copeland, Unt Warren Bell  08/07/08  Fanfare (Jamie Tarses)  My Boys  The Watch, Held Up, Drop Dead Gorgeous, 30x30, Unt Lee Flemming  05/31/08  Apostle  Rescue Me, Canterbury’s Law  Confidence, Unt Jim Manos  06/30/10  Neal Moritz  N/A  Unt Dave Caplan, Unt Carter Covington, Unt Mike Bender  06/26/08  Matthew Carlson  N/A  Hackett, Unt Carter Covington  05/29/08  Michael Davies  Power of Ten, Chain Reaction, Grand Slam  The Dating Game, The Newlywed Game, World’s Strongest Celebrity  01/01/09  Tantamount  N/A  Candy, Diva, Unt Christopher Guest, 80’s Cop Show, Sit Down Shut Up  06/15/10  BBC  N/A  Hotel Babylon, Cutting It, The Visit, Some Mothers Do ‘Ave ‘Em, Ab Fab  11/30/08

20. 20 # of Term Deals Overall Term Deal Financials Net Cost Per Year NOTE: Deals with total gross commitments of $1MM or more.

21. 21 Network: DAYS OF OUR LIVES / Y&R continuing throughout plan RULES OF ENGAGEMENT and CANTERBURY’S LAW continue throughout the plan (5 seasons and 4 seasons, respectively) POWER OF 10 continues for 3 seasons 9 pilots per season, resulting in 3 series per year One new series succeeds – 09/10 TBD Drama (co-production) Cable: RESCUE ME is ordered for a 5th season THE BOONDOCKS continues throughout the plan (4 seasons) DAMAGES, BREAKING BAD, and MY BOYS continue throughout the plan (4 seasons and 5 seasons, respectively) 4 pilots per year, resulting in 1 new series in FY09 and FY11 and 2 series in FY10 One drama series succeeds in FY10 First-Run Syndication: WHEEL OF FORTUNE & JEOPARDY! continue throughout plan JUDGE MARIA LOPEZ and DAVID YOUNG continue throughout the plan (5 seasons and 4 seasons, respectively) TBD COURT SHOW launches in 08/09 and continues throughout the plan (3 seasons) THE NINE launches in 08/09 and continues throughout the plan (3 seasons) POWER OF 10 launches in 09/10 and continues throughout the plan (2 seasons) Animation: One new season produced each year MOW: 9 movies and 1 miniseries per year Culver Entertainment: Production levels sufficient to generate $2MM in profits per year SPT Production Assumptions

22. 22 Programming – New Series Investment & Development ($95) ($100) Budget/Prior MRP ($90) Variance ($10) ($82) ($13) ($83) ($12)

23. AD-SUPPORTED DIGITAL NETWORKS

24. 24 Strategy Overview Focus Crackle on high quality short-form content to differentiate the service and drive monetization of the site –Addresses advertisers’ need for quality and control and users’ desire for higher quality content –Shifts competition away from the entry-level “UGV” segment where YouTube is a clear leader Launch new digital networks to create valuable channel brands and retain value currently captured by our distribution partners –Launched Minisodes, Funny Bone, AXN –Launching Screening Room this fiscal year Share resources across our networks, increase programming to build scale –Create programs that build depth within our existing networks –Share programming, technology, advertisers, and distribution partners across networks Evaluate strategic alternatives to increase scale in light of increasing competition from traditional network brands –Considering the creation of a single “umbrella” brand across our networks –Evaluating acquisition and partnership opportunities

25. 25 Content Shared Resources Across Digital Networks Distribution Ad Sales Infrastructure New ChannelsCrackle Launching new channels Sharing content Distributing channels as a network scramblerhighwire wet paintshorts moving target

26. 26 Programming Philosophy Based on 4 Building Blocks Acquired Original Production Library New Shows Star-Driven Branded Ent. Traffic Creating New Access SPE Film SPT TV Prosumer Short & long form Penn’s Rant Busted Pilots Short-Lived Series

27. 27 Crackle Content and Programming Broaden fame partner network to continue to attract top talent 5 premium channels with targeted base of quality shows Deepen stable of shows across all premium channels Elevate short-form video the way HBO redefined “made for cable” Create truly compelling and “destination” content Edgier content than what’s on TV, higher quality than YouTube

28. 28 Distribution Philosophy Today Leverage Shared Distribution Relationships Future

29. 29 Revenue Plan for Digital Networks As online video advertising grows, SPTAS has demonstrated early traction but significant growth is still needed –Crackle relaunch attracting top advertisers who seek quality content and a controlled environment Integrated with 4 international rep partners covering a large % of monetizable inventory Secured 4 Blue-chip advertisers: Pepsi, Honda, Sony and Epson $1MM in booked Crackle revenues; additional $750K in the pipeline SPTAS must address the challenges of a young, evolving digital advertising market to drive further revenue growth –Integrate our new networks and leveraging our content to deliver larger-scale audience and experience to advertisers –Focus on sponsorships; continue to modify ad units and targeting tools to meet advertiser needs –Drive additional revenue through international rep firms

30. 30 Digital Networks Financials EBIT Before ContributionRevenue FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP

31. 31 Crackle Financial Summary EBITRevenue FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP ($ in MM) FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP ($ in MM)

32. STRATEGIC INVESTMENTS

33. 33 GSN and FEARnet Summary Challenges Launch was strong but must secure additional distribution deals (e.g., cable carriage or online) Need to increase ad sales, including push by Comcast to provide leadership in dynamic ad insertion If these don’t happen, revisit business model and ownership structure Initiatives Closed deals with Verizon and Cox Need to close carriage agreements with TWC and others; increase the number of web unique users through syndication ops Boost ad sales by: –Hiring sponsorship marketing person to focus on multi-platform sponsorships –Move focus from VOD ad sales to web advertising –Working to extend distribution to mobile with Verizon through SPT Mobile Group representation –Pursing additional horror inventory verticals to aggregate unique viewers e.g., bloodydisgusting.com Developing original productions with Ghost House Cable VOD Ratings Available in 12.2 million homes Top 10 network 11 mos. running with 6.7M views a month 74 million views to date (launch through 9/29) Top 5 network in set-top box use with 2.2M boxes per month Average time spent viewing of 48 minutes Web Ratings #1 Horror site in America (registered users) 200% Growth since February 7 straight months of growth Hitting projections for unique users Challenges Audience remains small and demographics skew toward an older-female audience, which is less valuable to advertisers Limited reach to launch hit or demo-changing shows Improvements more difficult due to: declining ratings, fragmentation, return of game shows to broadcast and affiliate pressures Attempt to broaden beyond traditional demographics with younger-male skewing poker programs proved unsuccessful Company Plans David Goldhill brought in as the new President & CEO Proposed a merger between GSN and FUN Technologies to facilitate interactive strategy Embracing existing older-female demographic, gradually seeking to get marginally younger Expanding business to capitalize on growth of casual games Making accessible participation and interactivity central to all programming Seeking multi-platform games business model: packaging, online ad sales, online fees, formats, mobile, etc. Next Steps for SPT Evaluate potential success of new strategy Determine interest in further investment or exiting GSN investment

34. 34 Game Show Network – Financial Summary SPT Share of Net IncomeSPT Share of Dividends/(Funding) FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP

35. 35 SPT Share of Net Loss/Income SPT Share of Cash Funding FEARnet – Financial Summary FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP

36. DISTRIBUTION AND LICENSING

37. 37 Strategy Overview Coordinating expanded digital rights across distribution partners and windows –Offering “all rights under one roof” (broadcast, cable, IPTV, satellite, Internet and mobile) to ensure close coordination and maximize revenue per account Capitalizing on the opportunity to offer a broader range of rights to a wider range of buyers –Non-traditional competitors (Comcast, AT&T) are buying content and rights for emerging platforms (VOD/Internet/Mobile); established players are expanding rights to stay competitive –We are strategically tailoring rights and product offerings to customers’ business objectives –We are providing advertisers new opportunities to connect with a more targeted audience Distributing more content across more platforms to drive revenue growth –Off broadcast (Rules of Engagement, Power of 10) –Off cable (Rescue Me, Damages, MyBoys) –1st run (Judge David Young) –Internet developed shows (The 9, Buried Alive) –Library product online and on mobile (Who’s the Boss?, Monty Python) –3rd party acquisitions (G.B.B., Just for Laughs) –New library strategies (Minisodes network) –Work with feature acquisitions to monetize product

38. 38 Integrating Digital with Traditional TV Shared / Expanded Resources Traditional PartnersDigital Partners Networks Cable Syndication Pay TV PPV / VOD Optimized Rights Manage terms and rights across digital and TV deals –Integrate deals into contract and financial systems / processes –Manage avails, pricing, MFNs, and other key terms –Preserve, optimize, and allocate value to traditional and digital rights Deal & Rights Management Research & Business Dev Marketing Identify new business models across platforms –Create bundled rights in traditional media and new windowing strategies –Develop interactive ad sales models and technologies (online video ads) –Enter new licensing markets (virtual worlds) Create integrated marketing campaigns –Develop materials to market both offline and online content –Build digital experiences with partners to promote core assets (Damages) –Create digital experiences of our own (Seinfeld.com) Portals Social Networks Mobile Carriers Internet Retailers Virtual Worlds

39. 39 Distribution Sales – Total Licensing Revenues SPT will generate $745 million in total current and library sales for SPE ($ in MM) FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP $745 $748 $680 $751 $937 $799 $793

40. 40 Free TV / Basic Cable Market DynamicMRP Initiatives Networks are more selective on what they buy due to increased appetite for original programming Networks need more rights to compete with emerging digital platforms Increasing number of viewing opportunities in earlier windows (digital rental, PPV) makes it more difficult to maintain value in the Free TV window Aggressive sales efforts for King of Queens 2nd cycle Utilizing newly-developed ratings and competitive database to support library sales SPT is employing new strategic initiatives for movies and TV shows, and licensing new rights –Updated internal system for tracking ratings –Shorter and dual windowing –Inclusion of barter –Repurposing –Multi-platform simulcasting and multiplexing –Network VOD/SVOD –Network-branded MSO VOD –EST Converting “event” movie buyers and non-movie buyers into ongoing buyers –“Event” movie buyers like Hallmark, G4, and E! transitioned to ongoing buyers –Close initial sales of films with current non- movie buyers like TV Land, Nick @ Nite, and Soapnet

41. 41 Free TV / Basic Cable – Revenues ($ in MM)

42. 42 Syndication Market DynamicMRP Initiatives Consolidation of buyers has created the need to partner and co-develop first-run programming Off-net programming continues to be a highly desired product that commands premiums For library sales, new clients are emerging through Spanish language channels and digital second channel owners Local stations and cable networks are seeking rights to stream episodes on their web sites Aggressive sales efforts of library & new shows –4th cycle renewal of Seinfeld –Upgrades and renewals for Judge Maria Lopez and Judge David Young –New first run syndication shows (The 9; Power of 10) –Steve Harvey as an ad-supported strip in 2008 Stream products on local TV station/cable network sites Secure additional 3rd party products Add new clients from digital second channel owners (GTN) and ION Television and Spanish Language channels (Telemundo, etc.) Exploit the relationship with WGN+ for new library sales Pursue co-development deals with NBC, Tribune and other station groups

43. 43 Syndication – Revenues ($ in MM)

44. 44 Satellite trying to catch-up with cable on VOD and broadband –Creating new products for their home customers to compete with the triple play –DIRECTV and EchoStar are building push VOD, closed IP delivered products –Committed to launching new HD channels FOD not a priority for buyers Primary product is traditional PPV/VOD rights –Locked a 3 year ext output deal for PPV/VOD rights (exp.12/31/10) with iN DEMAND –Leveraging Cable MSO’s need for earlier windows and HD to secure better placement, higher prices, and better splits for SPT Expanding licensing discussions to on-line rental VOD and EST based on MSO focus on broadband services Pay Per View / Video On Demand Cable MarketMRP Initiatives Satellite MarketMRP Initiatives Cable MSOs continue to focus on the triple play and are committed to being the single provider of TV, voice, and data into the home Eager to improve the traditional PPV/VOD offerings through earlier windows, HD rights, and content for broadband services FOD not a priority for buyers Leveraging satellite's need to provide VOD, SPT is in negotiations for PPV/VOD output deals with both DIRECTV and EchoStar –Securing commitment from DIRECTV for SPT FOD product –Negotiating with EchoStar to carry The Minisode Network and to offer direct-to-video product

45. 45 Pay Per View / Video On Demand – Revenues ($ in MM)

46. 46 Pay TV – Strategy Market DynamicMRP Initiatives Starz remains our primary output partner Pay partners, including Starz, are seeking cross-platform rights Multiple customers have demonstrated interest in a mix of library and newer, short-form content To keep pace with market leader HBO, Showtime and Starz are placing an increased priority on original programming relative to library deals Just exercised the Starz option – deal will now expire December 31, 2013 Starz wants to discuss additional changes to their deal in exchange for an extension beyond 2013 Leveraging Starz’ desire for digital content and cross-platform plays to expand our relationship into VOD, carriage for Minisodes, and new SPT digital channels Close library deals with Showtime and HBO

47. 47 Pay TV – Revenues ($ in MM)

48. 48 Library Sales Targets by Market 3 year annual average of $101MM in FY08-FY10, and $100MM in FY09-FY11 4 year annual average of $97MM $90 In-House $38MM $113 $99 $87

49. 49 Library Revenue by Division In-House $91MM In-House $86MM In-House $35MM In-House $26MM NOTE: (1) Before net present value adjustment. (2) Acquired product revenue in-process as a result of recently revised slate information. ($ in MM) FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP $111 $165 $124 $97 $101 $90

50. 50 Library Revenue by Market In-House $91MM In-House $86MM In-House $35MM In-House $26MM ($ in MM) FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP $111 $165 $124 $97 $101 $90 NOTE: Before net present value adjustment.

51. 51 SPT will generate over $451 million in sales from the FY09 slate Distribution Sales – FY09 Slate

52. 52 Digital Licensing Market DynamicMRP Initiatives The paid digital market has developed slower than initial expectations –Technology just now being introduced –Significant retailers have yet to enter the market –Key digital players have focused on ad supported efforts The DST market is currently dominated by 2 major players (Apple and Xbox) Content owners are experimenting with a wide range of content offerings, business models and partnerships Many new devices are being introduced, driving consumer demand Continue to expand overall content offering across business models and platforms –Broaden selection of film and TV product –Introduce compelling, original short-form/original content into the offering Continue to find new ways for consumers to consume our content on emerging platforms and devices –First to deploy paid and ad supported premium content inside virtual worlds (Gaia) –Expand global leadership of movies on memory cards/mobile phones Optimize rights/windows / formats to create incremental revenue from library product (Netflix subscription service, Screening Room mobile, PS3 HD) Secure premium real estate on emerging platforms and out-merchandise our competitors

53. 53 Digital Video Market Growth Domestic Revenue ($000) Sources: eMarketer; SPT Business Development *Includes DST and rental Spending for online and mobile video content is forecasted to grow at double-digit rates well into the next decade Studios are continuing to make an increasing amount of premium content available for digital distribution –Primetime TV, movies, and original content Historically game-based, mobile is also proving viable for video distribution –Adoption of 3G handsets continues to grow and is improving viewing experience Carriers are seeking video content to attract and retain customers $930 $1,950 $3,150 $4,600 $5,980

54. 54 Digital Licensing – Revenues Apple/Microsoft Op.$5$19$36$70 ($ in MM) Variance to PY MRP is the result of DST businesses not launching or launching more slowly (Google, Yahoo, AT&T, Wal-Mart)

55. 55 Mobile Games & Personalization Market DynamicMRP Initiatives Carriers are reducing the number of game publishers with which they do business Video is becoming the largest product push for carriers SPT Mobile group is capitalizing on these trends –Leveraging a combined video and mobile content offering –Grew to #7 mobile game publisher in market from #14 last year –Bringing media marketing capabilities to partners Taking responsibility for game development from SPDE; coordinating greenlight process with SPTI –Controlling entire product pipeline (concept through development) to better align with market demand –Slating 8 games per year; significantly increased game efficiencies – fewer games with higher ROI / less overhead –Growing SPT franchises in market (e.g., Rock & Roll JEOPARDY!) –Increasing marketing support Taking direct responsibility for personalization products (ringtones, wallpapers) from SPDE –Tones / graphics based on select TV and film properties –Packages and new content based on compelling brands and themes

56. 56 Mobile Games & Personalization – Financial Summary EBIT Before Contribution (1) Revenue (1) PY MRP mobile costs restated for development costs incurred by SPD now incurred by DSD as a result of the transfer of game production to DSD ($4.4M in PY09 and $0.8M in PY10). Variance to PY MRP is the result of a reduced game slate (more than off-set by costs) and lower D2C

57. SPHE & SPTI CONTRIBUTION TO SPT PRODUCT

58. 58 SPHE Contribution to SPT Product RevenueNet Contribution Budget/ Prior MRP Variance $154 $0 $123 ($15) $119 ($24) MRP reflects declining demand for TV Library product on DVD; securing additional distribution partners that focus on library product MRP does not assume Blu-ray sales for TV Library Budget/ Prior MRP Variance $49 ($4) $40 ($2) $37 $0 $154 $107 $95 $82 $44 $38 $37 $30

59. 59 SPTI Contribution to SPT Product RevenueNet Contribution Budget/ Prior MRP Variance $200 $31 $174 $46 $183 $42 Budget/ Prior MRP Variance $167 $30 $146 $39 $152 $37

60. AD SALES

61. 61 Overview of Ad Sales Environment The market has improved recently, driven partly by the new C3 ratings system –C3 coincided with recovery in the up-front market –The new system decreased total ratings points, driving near-term price increases –C3 is also creating opportunities for product integration We are addressing the aging of our core programs and continuing to seek growth in traditional TV categories –We are partially offsetting rating declines for our older shows by reformatting commercial placements and taking advantage of C3 benefits for syndicated shows –Expanding our cable business (Tennis Channel, Mojo) given the challenges of securing satellite representation –Selling program-by-program to grow the :10 business We are also driving growth by expanding beyond our traditional TV business –Increased 3rd party representation –HD advertising marketplace still growing –Emerging opportunities in digital ad sales (e.g., Screening Room/MediaFlo) –Growth in new platforms, including in-game advertising

62. 62 Advertising Market Overview $0.4 Total Domestic Video Advertising Market Network Television Syndication Television Digital Video Cable Television 48.0% 46.9% 4.5% 0.7% $29.8 $29.1 $2.8 Percent of Total Sales CY06 Sales ($ in Billions) Source: Network, cable and syndication figures from Nielson Ad Views. Digital figure from eMarketer report.

63. 63 NetworkSyndication:10 Spot Cable / Satellite DigitalMobileIn-Game Expanding SPT ’ s Advertising Footprint

64. 64 SPT ’ s Ad Sales Businesses Will Continue to Grow Syndication The :10 Solution 3 rd Party Represent- ation Digital Hold back inventory and maximize dollars with higher scatter pricing Bring on new advertisers, leveraging digital assets and new opps. Developing custom metrics with Nielsen to acquire new ad partners Expand client list with traditional :30 buyers New program representation opportunities (Crosswords) Create Upfront marketplace for :10 business Continue to build Hi-Def ad sales with MOJO, seek new HD nets Focusing on Cable: Tennis Channel, Ovation and Gospel Music Channel MRP includes annual revenue of $13MM trending to $20MM Create digital sales verticals: MUSIC, ENTERTAINMENT and GAMES Position MINISODES as digital network across all platforms Establish SPTAS as Sony’s digital ad sales group – currently representing SonyBMG, talking with Playstation

65. 65 Advertiser Sales Net Revenue (non-digital)

66. 66 Digital Ad Sales ($ in MM) FY08 Q2/BDGT. FY09 MRP/PRIOR FY10 MRP/PRIOR FY11 MRP $9 $15 $17 $63 $39 $77 $67

67. APPENDIX: Financial Slides

68. 68 SPT – Major Contributions to Earnings

69. 69 SPT – Earnings Comparison (Year vs. Year)

70. 70 SPT – Earnings Comparison (FY08 vs. FY11)

71. 71 SPT – Earnings Comparison (Plan vs. Plan)

72. 72 SPT – Major Contributions to Revenue

73. 73 SPT – Summary Financials

74. 74 Digital – Summary Financials

75. 75 Digital – Earning Comparison FY08 vs FY11

76. 76 Digital – Earning Comparison to Prior MRP

77. 77 Crackle – Summary Financials