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 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 with Starz, we have significantly improved our ability to offer on-demand services –PPV / VOD / EST  Cable / broadband / IPTV -- Broadened our rights to offer PPV / VOD / EST for final 3 months Pay 1 and Pay 2  New media – Retained ability to offer PPV / VOD / EST over the internet at any time during Starz window and clarified that we can offer PPV / VOD / EST on mobile 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 hardware –Subscription on-demand -- Secured MFN, ensuring Sony can offer the Starz subscription on-demand channel on Sony platforms with favorable terms –Mobile -- obtained right to exhibit 6 titles (<$50m DBO) per year on our mobile SOD 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 and new media services any time during Starz window Deal TermsImplications PPV / VOD / EST During Starz Window If BIVL or PSN operated as a traditional open internet / web site service they could offer PPV / VOD / EST titles during Starz window If BIVL or PSN morphed into IPTV providers (effectively cable competitors) 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 rights for PPV / VOD / EST on internet (and adds rights for mobile) at any time during Starz window Retains BIVL and PSN right to offer PPV / VOD / EST when operating as an open internet service Adds rights for BIVL and PSN PPV / VOD / EST offerings to overlap with Starz windows for six months if these services become IPTV providers Strengthens our mobile offerings

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 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 network window Sony is allowed to exhibit 2 pictures per year on FOD basis if packaged with a Sony consumer electronics product priced > $100 and promotion is up to 2 months in length 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

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 platforms (e.g., PlayStation and BIVL) directly or through partners 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 Ensures BIVL and PlayStation will be able to offer a subscription on-demand offering (Starz Play) and provides leverage for favorable deal terms

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 channels during the network window Deal TermsImplications Mobile Crackle and Pix mobile could only have library titles on 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 Pricing floor during Pay 2 implied a minimum wholesale of $6.95 Pricing floor during Pay 2 reduces minimum wholesale price 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 Allows an Open Market “digital locker” redelivery 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) 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