Mid Range Plan Presentation Fiscal Year 2009-2011 October 2007

1. [DRAFT 09.19.07] Mid Range Plan Presentation Fiscal Year 2009-2011 October 2007

2. Executive Summary Core Assets Programming Digital Networks Distribution Ad Sales Financial Appendix Agenda

3. DIGITAL NETWORKS

4. Digital Networks Financials EBIT Revenue [Placeholder Numbers]

5. DISTRIBUTION

6. Market Update and Strategy Overview • The marketplace has evolved past traditional delivery platforms, creating new opportunities for SPT • Non-traditional competitors (Comcast, Google, Verizon) are buying content and rights for emerging platforms (VOD/Internet/Mobile) • To remain competitive, established platforms are expanding their rights offerings • As more companies buy more content and rights; SPT is well positioned to sell to all of them • Offering “all rights under one roof”, including broadcast, cable, IPTV, satellite, Internet and mobile • Unlocking rights that are unavailable in many studios • Intelligently tailoring each rights and product offering to a customer’s business activities and objectives • Driving the market towards a proactively consumer-focused media experience • Leading advertisers to richer opportunities to connect with the public • 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, digital cable and satellite sales)

7. Distribution Sales – Total Revenues SPT will generate over [$X] million in total current and library sales for SPE [Placeholder Numbers Only] Budget/ Prior MRP $846 $663 $631 Variance $21 $32 $123

8. Free / Basic TV Market Dynamic MRP Initiatives • Cable networks’ growing appetite for original programming is coming at the 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 • Multiplatform simulcasting and multiplexing • 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

9. Free / Basic TV – Revenues [Placeholder Numbers Only]

10. Syndication Market Dynamic MRP Initiatives • Consolidation of buyers has created the need to partner and co-develop first-run programming, increasing the likelihood of shows being picked-up • 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

11. Syndication – Revenues [Placeholder Numbers Only]

12. Pay Per View / VOD Cable Market MRP Initiatives • Cable cos. continue to focus on the triple play; committed to being the single provider of TV, voice and data into the home • 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 Market MRP Initiatives • 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 push VOD and 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 for SPT FOD product • Securing commitment from EchoStar to carry The Minisode Network and direct-to-video product

13. Pay Per View / VOD – Revenues [Placeholder Numbers Only]

14. Pay TV – Strategy Market Dynamic MRP Initiatives • Starz remaining a critical partner in Pay TV • Pay partners, including Starz, are seeking cross-platform rights • Multiple customers have demonstrated interest in a mix of library and newer/short-form content • Exercise the Starz option. Once exercised, the deal will expire December 31, 2013 • Secure an additional long-term Pay TV extension with Starz • Address key “asks” including: • Caps on Sony's theatrically released product • Expansion of on-demand rights • Reductions in overall license fees • Earlier windows to Pay TV • Leverage Starz’ desire for digital content for VONGO and cross-platform plays • 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

15. Pay TV – Revenues [Placeholder Numbers Only]

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

17. The consistent licensing of our library product is evolving with new business models and applications Library Sales – Market Trends • Dual windowing (Just Shoot Me – cable and broadcast) • 3rd party distribution (RTN – premium guarantees) • Re-packaging library products for cross-platform distribution (Minisodes) • “Long Tail” new media sales (Netflix online, Funnybone, AXN)

18. Library Sales Targets by Market In-House $103MM [Numbers to be Updated by Friday] Budget $65MM • 3 year annual average of $106MM in FY07-FY09, and $90MM in FY08-FY10 • 4 year annual average of $105MM

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

20. Digital Video Market Growth • Spending on paid and ad-supported content is forecasted to grow at double-digit rates well into the next decade U.S. Consumer /Advertiser Spending ($M) • 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 $7,775 $5,942 $4,238 $2,765 $1,663 [Confirm #’s include mobile video Clarify this in footnote] Source: eMarketer; *includes DST and rental

21. Digital Distribution Market Dynamic MRP Initiatives • 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 • 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

22. Digital – Revenues [Placeholder Numbers]

23. Mobile Games and Personalization Market Dynamic MRP Initiatives • 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 [Mobile comments to come] • Mobile comments to come…

24. Mobile Games & Personalization EBIT Revenue Q2/MRP Budget/Prior MRP Q2/MRP Budget/Prior MRP [Placeholder Numbers]