1. DISTRIBUTION

2. 2 Market Update and Strategy Overview The marketplace has evolved past traditional delivery platforms, creating new opportunities for SPT –Emerging platforms (VOD/Internet/Mobile) and non-traditional competition (Comcast, Google, Verizon) are now buying content and rights –To remain competitive, established platforms are diversifying the ways they deliver programming, requiring them to buy more rights As more companies buy more content and rights; SPT is uniquely positioned to sell to all of them –Taking an “all rights under one roof” approach, including broadcast, cable, satellite and digital –Coordinating strategic approach to customers multi-faceted business objectives –Licensing more rights and creating innovative deal structures to position our content to be relevant to viewers and advertisers As a result, we are distributing shows from more sources now than ever before: –Off broadcast (Rules of Engagement, Power of 10) –Off cable (Rescue Me, Damages) –1st run (Judge David Young) –Internet developed shows (The 9) –3rd party acquisitions (G.B.B., Just for Laughs) –New library strategies (Minisode network)

3. 3 Distribution Sales – Total Revenues Budget/ Prior MRP $846$663 Variance $21$32 $631 $123 SPT will generate over $867 million in total current and library sales for SPE [Last Year’s Numbers]

4. 4 Free / Basic TV Market Dynamic MRP Initiatives Cable networks growing appetite for original programming is coming at the direct expense of acquisition budgets For movies and TV shows, SPT is employing new strategic initiatives and licensing new rights –New internal ratings systems –Shorter and dual windowing –Inclusion of barter –Repurposing –Network VOD/SVOD –Network branded MSO VOD –EST Increase revenue by 2 to 3% by increasing sales of non-linear digital rights across platforms Increase library film sales by 5% by utilizing newly developed ratings and competitive database Increase library film sales by 2-3% by converting “event” movie buyers into ongoing buyers (e.g., Hallmark, G4, and E!) Increase library sales by 1-2% by converting non-buyers (e.g., TV Land, Nick @ Nite, and SoapNet) into at least occasional buyers

5. 5 Free / Basic TV – Revenues [Last Year’s Numbers]

6. 6 Syndication Market DynamicMRP Initiatives Consolidation of buyers has created the need to partner and co-develop programs for first-run programming, vesting clients in our mutual success 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 –King of Queens 2nd cycle –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

7. 7 Syndication – Revenues [Last Year’s Numbers]

8. 8 Pay Per View / VOD Cable MarketMRP Initiatives Satellite MarketMRP Initiatives Continued focus on the triple play; commitment to being the single provider of into the home for TV, voice, data –Eager to improve the traditional PPV/VOD offerings –Seeking earlier windows and HD rights –Focus on content to increase sales of broadband services Primary product is traditional PPV/VOD rights –Locked a 3 year extension output deal for PPV/VOD rights (expires Dec 31, 2010) –Leveraging interest in PPV / VOD for better placement, higher prices, better splits Expanding licensing discussions to on-line rental VOD and EST based on MSO focus on broadband services Satellite Cos. are 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 out a closed IP delivered products to the home 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 SPT FOD product –Securing commitment from EchoStar to carry The Minisode Network

9. 9 Pay Per View / VOD – Revenues [Last Year’s Numbers]

10. 10 Pay TV – Strategy Exercise the Starz option. Once exercised, the deal will expire December 31, 2013. Secure an additional long-term Pay TV extension with Starz. Anticipate and analyze the issues that will be raised in such discussions, including but not limited to: –Caps on Sony's theatrically released product –Expansion of on demand rights –Reductions in overall license fees –Earlier windows to Pay TV Starz is committed to establishing an on-line presence through VONGO. SPT's strategy is to provide a full bouquet of Sony content across all Starz distributed products. SPT has closed a rental on-line VOD deal. SPT is negotiating EST, The Minisode Network and SPT on-line channels. Close library deals with Showtime and HBO

11. 11 Pay TV – Revenues [Last Year’s Numbers]

12. 12 SPT will generate over $389 million in sales from the FY08 slate [Update / Reformat] Distribution Sales – FY08 Slate

13. 13 Library Sales – Market Trends The consistent licensing of our library product is evolving with new business models and applications Dual windowing (Just Shoot Me – cable and broadcast) 3rd party distribution (RTN – premium guarantees) Repacking library products (Minisodes)

14. 14 Library Sales Targets by Market 3 year annual average of $106MM in FY07-FY09, and $90MM in FY08-FY10 4 year annual average of $105MM In-House $103MM Budget $65MM Last Year’s Numbers]

15. 15 Library Revenue by Division Q2/BDGT. MRP/PRIOR MRP TV SPHE MPG In- House $103MM In-House $62MM In-House $77MM In-House $31MM NOTE: Assumes a consistent volume and quality of SPHE acquired product. ($ in MM) [Placeholder Numbers]

16. 16 Digital Distribution Landscape: Growing Demand U.S. Consumer / Advertiser Spending ($M) $1,663 $2,765 $7,775 $4,238 $5,942 Source: eMarketer; *includes DST and rental Spending on paid and ad-supported 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 Content owners are leveraging wide distribution networks, rather than exclusivity, to drive demand –NBCU and Fox to launch JV “Hulu” in Q4 as well as distributing through Yahoo! and MSN TV and movie content is fully cross platform utilizing a variety of business models –Ad supported streams on ABC.com and DST on iTunes –DST and VOD on XBox360 –Ad supported and subscription TV and movies on Verizon Wireless and Sprint

17. 17 Digital Distribution SPT Strategy & Financials Total Revenue Aggressively build the distribution network –Strike partnerships across the complete spectrum of traditional and on-line players Continue to expand the overall content offering –Broaden selection of film and TV product –Introduce the most compelling short-form/original content into the offering Continue to lead the market in innovating the digital product offering and usage models –Focus on Digital Sell-Through as foundational/core product Build a strong, retail-focused organization –Create innovative marketing and promotional programs –Continue to lead the industry with respect to asset delivery and digital operations

18. 18 Mobile Overview Taken responsibility for game development from SPDE and coordinating greenlights with SPTI –Slating 8 games per year Now directly responsible for personalization products focusing on –Tones/graphics based on film/TV properties –Packages based on compelling brands/themes Market approach –Close carrier relationships and marketing support –Consistent product development –Reinvigorate the library SPT Strategy & Financials EBIT Total Revenue [Placeholder Numbers] Budget/Prior MRP Q2/MRP