Mid Range Plan Presentation Fiscal Year 2008 October 2007

1. Mid Range Plan Presentation Fiscal Year 2008 October 2007

2. Executive Summary TV; Digital Dist; and Crackle financial bar charts; G&A; HC Core Assets Performance of Seinfeld, Wheel/Jeop, Y&R / Days Focus on on-air success; touch on digital extensions (iTunes, mobile games) Development Strategy for traditional: genres / format focus for Network and Cable; production assumptions Short-form strategy Channels Digital networks including on-line and mobile components (AXN, Funnybone, Screening Room, Minisodes) Crackle GSN / Fearnet Distribution Strategies for approaching Pay TV, PPV / VOD; Free TV, Syndication Digital licensing (DST and mobile games) Ad Sales Core business Strategy for expansion (3rd party representation, Mobile, Crackle) ITN Financial Appendix Agenda [Detailed – for reference only]

3. Executive Summary Core Assets Programming Channels Distribution Ad Sales Financial Appendix Agenda

4. How will SPT ensure growth and continued success moving forward? • Increase library sales revenue • Develop lasting broadcast and cable programs • Establish digital channels as market leading brands • Capitalize on growing demand for digital content to increase digital licensing revenue • Continue to grow Crackle audience and begin monetizing • Grow Advertiser Sales through expansion into digital, 3rd party acquisition and ITN • Significantly improve GSN’s profile and earnings

5. SPT Financial Summary EBIT Revenue ($ in MM) Sony Pictures Television GSN/FEARnet ($ in MM) Q2/BDGT. MRP/PRIOR MRP/PRIOR MRP Q2/BDGT. MRP/PRIOR MRP/PRIOR MRP [Old Numbers]

6. SPT Total Revenue TV Initial Market SPHE MPG TV Distribution Crackle ($ in MM) [James – Add Dummy # Stack for Digital Dist. And Digital Networks] Q2/BDGT. MRP/PRIOR MRP/PRIOR MRP [Placeholder Numbers]

7. SPT Net G&A Expenses & Headcount Q2/MRP Proj. Headcount 224 224 224 224 Budget/Prior MRP Headcount 218 218 218 N/A Variance 6 6 6 N/A [Old Numbers]

8. Digital Networks & Distribution Financial Summary EBIT Revenue ($ in MM) Sony Pictures Television GSN/FEARnet ($ in MM) [James – Replace with Dummy # Stacks: Mobile / Internet Licensing DST Memory Card Rental] Q2/BDGT. MRP/PRIOR MRP/PRIOR MRP Q2/BDGT. MRP/PRIOR MRP/PRIOR MRP [Placeholder Numbers]

9. Digital Networks & Distribution Net G&A Expenses & Headcount Q2/MRP Proj. Headcount 224 224 224 224 Budget/Prior MRP Headcount 218 218 218 N/A Variance 6 6 6 N/A [Placeholder Numbers]

10. Crackle Financial Summary EBIT Revenue ($ in MM) Sony Pictures Television GSN/FEARnet ($ in MM) [Make this a single stack] Q2/BDGT. MRP/PRIOR MRP/PRIOR MRP Q2/BDGT. MRP/PRIOR MRP/PRIOR MRP [Placeholder Numbers]

11. Crackle Net G&A Expenses & Headcount Q2/MRP Proj. Headcount 224 224 224 224 Budget/Prior MRP Headcount 218 218 218 N/A Variance 6 6 6 N/A [Placeholder Numbers]

12. Executive Summary Core Assets Programming Channels Distribution Ad Sales Financial Appendix Agenda

13. “Seinfeld” Strategy • Develop 4th cycle sales strategy • Station license runs through 3/11 • TBS license runs through 9/11 • Maximize DVD release • Season 7 (11/06) • Season 8 (06/07) • Season 9 (11/07) • The DVD packages for the fifth and sixth seasons won top honors at the third annual TV DVD Awards • Release a collector’s edition DVD compilation • Explore potential iTunes deal after the DVD sales window MRP Assumptions • Despite ad sales inventory being priced among highest in syndication, expect gradual ratings erosion • 3rd cycle cleared in 98.6% HH, guaranteed double run in 85% • Domestic DVD sales through FY07: • $260MM since inception • $38MM from Nov ’06 release • Projected sales: FY08: $60MM, FY09: $21MM and FY10: $19MM • 4th cycle license fee renewals of $500K/episode assumed in FY09 EBIT Ad/Promo DVD License Fee ($ in MM) Q2/BDGT. MRP/PRIOR MRP/PRIOR MRP

14. “The Young & The Restless/Days of Our Lives” Strategy THE YOUNG & THE RESTLESS • Renew license fee agreement with CBS • Finalize terms with Sears on cross-promotional opportunities • Overhaul writing staff DAYS OF OUR LIVES • Closed a firm 3 year deal through Mar ‘09 • Coordinate with NBC to expand website • Digital Strategy: • iTunes (Subscription) • AOL Classics (Ad Supported) • Promotional Clips (Grouper, Mobile) • Work with Beachwood to reduce production costs by $400K a week by the end of 06/07 season MRP Assumptions THE YOUNG & THE RESTLESS • Contractual license fees through 06/07 • Renewal assumed at 2% annual growth • Costs held at 2% growth DAYS OF OUR LIVES • Contractual license fees through 08/09 • Renewal assumed at 08/09 fee • No production cost growth assumed EBIT The Young & The Restless Days of Our Lives ($ in MM) Q2/BDGT. MRP/PRIOR MRP/PRIOR MRP [Add language re: iTunes extensions]

15. “Wheel of Fortune/Jeopardy!” Strategy • Renewed through 09/10 broadcast season, seek additional 3 year renewal post NAPTE • Renewed contracts with talent through 09/10 (flat cost) • Ad Sales to capitalize on the following milestones: • 07/08 – Wheel of Fortune 25th • 08/09 – Jeopardy! 25th • SPE’s development team at IGT working to maintain high placement levels as a result of newly developed machines • Promote & capitalize on High Def market rollout • Increase emphasis on unique ad sales opportunities • Rolling out new versions of Jeopardy! on mobile: Sports Jeopardy! and Rock and Roll Jeopardy! • Embed demo version of Wheel of Fortune on Sony Ericsson handsets in the U.S. • Coordinate licensing and mobile deals internationally with King World MRP Assumptions • Assumes slight ratings decline offset by increased CPM • Contractual licenses through 09/10 • IGT advances earned out in FY10, revenue of $24MM • Production costs held to no growth until 09/10, at which point it grows at 3% EBIT Wheel of Fortune Jeopardy! ($ in MM) Q2/BDGT. MRP/PRIOR MRP/PRIOR MRP NOTE: FY08/09 variance to prior plan result of Jan ’06 IGT advance. [Add language re: Mobile Games]

16. Executive Summary Core Assets Programming Channels Distribution Ad Sales Financial Appendix Agenda

17. SPT’s Programming Strategy Flexible & creative development each season focusing on good ideas and stories, balanced with the needs of the networks [Update to address targeted genres / formats to address and to avoid] Network Cable Syndication Digital

18. SPT’s Current Program Lineup Big Day Raisin in the Sun (MOW) Peter Pan (MOW) The Longest Winter (MOW) Hurricane Katrina (MOW) Kidnapped Days of our Lives ‘Til Death Rules of Engagement King of Queens The Young & The Restless Sea Change (MOW) Comanche Moon (MOW) Syndication Greg Behrendt Judge Hatchett Judge Maria Lopez Wheel of Fortune Jeopardy! My Boys 10 Items or Less Runaway Dragon Tales The Company (MOW) A Perfect Day (MOW) The Boondocks Rescue Me The Shield Kings of South Beach (MOW) Wedding Wars (MOW)

19. SPT’s Key Writer/Producer Deals *Deal ends at the end of the calendar year of Rescue Me’s last season, plus 3 months.

20. Overall Term Deal Financials Net Cost Per Year # of Term Deals NOTE: Deals greater than 1 year and/or $500K.

21. SPT Production Assumptions Network: • DAYS OF OUR LIVES / Y&R continuing throughout plan • KING OF QUEENS returns for a 9th season • 8 pilots per year, resulting in 2 series per year • One series succeeds every other year • 06/07 TBD (‘TIL DEATH assumed for MRP purposes) • 08/09 TBD (Drama assumed for MRP purposes) Cable: • THE SHIELD is produced for 7 seasons • RESCUE ME is produced for 5 seasons • THE BOONDOCKS is produced for 5 seasons • 4 pilots per year, resulting in 1 series per year • One series succeeds every other year • 06/07 MY BOYS • 08/09 TBD (Drama assumed for MRP purposes) First Run Syndication: • WHEEL OF FORTUNE & JEOPARDY! continue throughout plan • JUDGE HATCHETT returns for an 8th season • One current 1st run syndicated show continues throughout plan • JOKER’S WILD / COMBINATION LOCK launches in 07/08 and continues throughout plan • TBD Series launch 09/10 Animation: • One new season produced each year starting in 06/07 Culver Entertainment: • Production levels sufficient to generate $2MM in profits per year MOW: • 9 movies and 1 miniseries per year

22. Programming – New Series Investment & Development ($99) ($84) ($82) ($83) Budget/Prior MRP ($75) ($75) ($88) Variance ($9) ($7) ($11)

23. Strategy to Grow Culver Entertainment • Release 13 half-hour episodes of the new animated Spider-Man series • Develop a slate of programs geared toward a 50+ audience • Work in conjunction with AARP to market programs • Work with pharmaceutical partners to develop ads focused on the target demographic • Pursue Culver Entertainment licensing deal with Starz • Continue to develop series for direct to consumer distribution • Two Dane Cook pilots with added footage released on DVD

24. Articulate Short-form Programming Strategy Specifically call-out strategy of developing content for our owned digital channels Use this slide as transition to next section: “Channels” Short-form Programming Strategy

25. Executive Summary Core Assets Programming Channels: Digital Networks Distribution Ad Sales Financial Appendix Agenda

26. Without Digital Networks, SPT Loses Influence and Revenue • SPT content continues to build and benefit other parties’ networks, replicating the current creation-distribution ecosystem • Talent, seeking multi-platform exposure and marketing of productions, turns elsewhere • Opportunity cost to not making library available online Content • Traditional networks aggressively build online & mobile audiences, replicating position & distribution advantage in the digital world • Difficult to secure real estate on digital MSOs for SPT’s a la carte content, with limited spots available in digital MSO tiers • Digital MSOs increasingly dictate business models and product development without SPT input Distribution • Ad dollars shifting from traditional TV to online • By 2011, TV content captures largest share of online ad spending: TV: $568 m Advertising MusicVideo: $447 m News &Sports: $433 m Other: $145 m UGV: $137 m Source: Adams Media Research, 2007

27. Strategy: Create Digital Networks to Address Digital Landscape Why Digital Networks? Generate Revenue Build Assets • Establish 21st century network / distribution assets for SPT • Build foundation for SPTAS to bring-in new partners and expand lines of business • Provide long-term distribution leverage for SPT content • Provide outlets for new content and talent • Capture share of developing revenue streams (IP and mobile) • Unlock and monetize SPT’s vast library • Give SPT seat at table to shape digital products and business models • Create program franchises with follow-on windows (e.g. DVD, Direct to Mobile)

28. Episodes from the heyday of sit-coms • Outrageous shorts and busted pilots • Originals by contemporary comedians Your favorite feature length, contemporary classic films across all major genres: comedy, action, drama, family, sci-fi and cult Classic hard-hitting action TV series and original takes on today’s favorite action movies and stars • Deep action-themed library • SPE relationships with celebrity action stars and film franchises • Key young male action demo also early adopter of digital tech- nology • SPT’s “middle tail” content is hard to find • Deep classic comedy library • Demand for short form, original comedy exploding online Four Networks Will Activate SPT’s Multi-Billion Dollar Library* What: 2 Popular Genres, 2 Popular Formats Favorite retro TV shows told in in 4-6 minute “minisodes” Why: We matched our assets with market demand • SPE’s 3,500+ feature library • Extensive library of much-loved shows • Popular TV format (Turner, USA, AMC, etc.) embraced by audiences but not yet translated to digital • Format appeals to today’s “bite sized” video consumption • Edited to meet the demo’s ironic, camp sensibility *Five including SPT’s investment in FearNet and SPT Mobile’s distribution of FearNet Mobile

29. Credence Walker Programming Philosophy Based on 4 Building Blocks SPE Film Library SPT TV Busted Pilots New Access Short-Lived Series Prosumer Acquisition Short & longform Original Production New Shows Star-Driven WTF withPenn Jillette Traffic Creating Branded Ent.

30. Network Distribution Approach Partners Online Mobile Other Distribution Philosophy D2C Online Mobile • MSOs & IPTV • SCE: PS3, PSP • SEL: Bravia, VAIO • Vertical sites • Originals sites • WAP • Application • Text • Portals / Aggregators • Syndicators • Social Networks • Virtual Worlds • Carriers • Non-Carrier Aggregators

31. Digital Networks Financials EBIT Revenue [Placeholder Numbers]

32. Executive Summary Core Assets Programming Channels: Crackle Distribution Ad Sales Financial Appendix Agenda

33. Crackle’s Strategic Focus Number of Viewers Number of Videos in the Category “Hollywood” Content The Opportunity Viral Video • High quality content viewed by many • Less viral and offers less variety than UGV • Combine the viral nature of user-generated video with the quality of “Hollywood” content • Unlimited variety of content • Highly viral • Lacks quality of traditional studio content

34. Crackle Strategy Overview Content / Channels Summary level strategy for these key issues Goals Platform / Product Differentiate service Build audience Generate revenue Partners / Distribution Monetization

35. TheLine-Up Evolution of Crackle Channels FY07 FY10 FY08 FY09 Channels TBD TBD TBD TBD TBD TBD Improv SPA SPT Fame Partners

36. Crackle Platform Development FY07 FY08/09 • Expansion of embedded player • Integrate search, upload, comments and “shoutout” features into player • Syndication via 1-Click publishing (e.g., Digg, EBay) • Online editing functionality • Branded channel templates (framework for premium producers, sponsors) • Family Filter • Continue expansion of embedded player • Add real-time community features including chat • Add geographic data and search • Personalized recommendations/channel • Customized functionality • User profiles, instant messaging New Features Device Support • Initial camera integration (Pure Digital) • Initial R&D for Sony devices: PS3, VAIO • Mobile phone integration • Hardware integration (e.g., PCs, Cameras, Camcorders, Cell Phones, Set-top Boxes)

37. Digital Imaging Expansion of Crackle’s Distribution Network Cross-Sony Partnerships User Driven “1 Click” Marketing Distribution Partners • Power video uploads • Embed screensaver and software • Users syndicate playlists via embedded player • Embed Grouper player on partner sites • Distribute content “pyramids” • Purchase advertising on high traffic web sites • Drive users back to Grouper.com

38. Overall trends in sales of advertising against UGV content Ad units (pre-roll / post-roll, overlays, banners) Sales strategy Sponsorship concepts Traction to-date with advertisers Crackle Revenue Plan

39. Growth in Audience and Traffic Growing domestic, on-site user base increases user activity, generates additional inventory, and ultimately drives more revenue Domestic / International Mix On-Site / Off-Site Mix 26.0 26.0 9.0 9.0 % Domestic % On-Site 60% 50% 33% 30% [Placeholder Numbers]

40. Audience Benchmarks Ending FY08 Grouper Audience (domestic, on-site) vs. Current Competitor Audience Sizes (1) MM MySpace 55.3 YouTube 38.0 Break (2) 9.8 Heavy 7.8 Grouper FY08 Budget 7.8 PureVideo (2) 5.5 American Idol (3) 4 - 5 Daily Motion 3.9 eBaum’s World 3.8 Addicting Clips / Atom Films (4) 3.0 iFilm 2.3 • Most recent available unique user numbers per Nielsen and Comscore unless otherwise noted, domestic on-site users only • Per the company • At peak months of April and May • Combined 1.8MM Addicting Clips & 1.2MM Atom Films

41. Crackle Financials EBIT Revenue [Placeholder Numbers]

42. Executive Summary Core Assets Programming Channels: GSN & FEARnet Distribution Ad Sales Financial Appendix Agenda

43. Game Show Network – Financial Summary SPT Share of Net Income SPT Share of Dividends/(Funding) Q2/MRP Budget/Prior MRP Q2/MRP Budget/Prior MRP

44. FEARnet – Financial Summary SPT Share of Cash Funding SPT Share of Net Loss Q2/MRP Budget/Prior MRP Q2/MRP Budget/Prior MRP

45. Executive Summary Core Assets Programming Channels Distribution Ad Sales Financial Appendix Agenda

46. Overview of Distribution Responsibilities Traditional Digital PPV / VOD DST Pay TV Rental Free / Basic Subscription Syndication Mobile Games

47. Distribution Sales – FY2008 Slate SPT will generate over $389 million in sales from the FY08 slate LOCAL LANGUAGE PRODUCT ACQUIRED PRODUCT

48. Domestic Television Sales Model for Feature Films PPV/VOD Pay TV (1st and 2nd) “Network” Window (1ST Free TV) “Syndication” Window (2nd Free TV) * 2nd Pay TV window begins ~ 8 years from theatrical release. ** SPT has a 3 year extension option, which must be exercised no later than 12/31/07.

49. SPT Library Sales Strategy • SPT learned from the MGM experience and has now established annual library sales targets • Library sales defined as follows: Feature Films: • Any window subsequent to the 2nd Free TV window SPHE acquired product: • All sales TV Product: • All 2nd cycle & subsequent sales • SPT is creating a state of the art database unique to the industry to better target customers • SPT has graded all feature films and tracks open windows (both short & long) • SPT sells current year open windows to the greatest extent possible, since this generates current year revenue • Networks attempt to buy windows out beyond the current year

50. Library Sales Targets by Market In-House $103MM Budget $65MM • 3 year annual average of $106MM in FY07-FY09, and $90MM in FY08-FY10 • 4 year annual average of $105MM