1. Confidential Draft [DRAFT] Overview of SPT Non-Scripted Television Strategy May 2008

2. 1 SPT is committed to expanding our non-scripted (game/reality) business Success requires investing to achieve scale relative to competitors Investments in the non-scripted business should be incremental to our current commitments in traditional scripted comedies and dramas In addition to our Embassy Row and 2waytraffic acquisitions, SPT will invest in partnerships with several Executive Producers/Production Companies We have an immediate opportunity to structure a partnership with Ryan Seacrest Executive Summary

3. 2 Attractiveness of the Non-scripted Genre Non-Scripted formats – Game Shows and Reality Shows – are a growing segment in primetime television –There is a trend toward increased Game/Reality Show Programming during primetime hours Broadcasters increasingly rely on hit formats such as American Idol, Big Brother, Survivor, Who Wants To Be A Millionaire, Deal or No Deal to bring in high ratings Non-scripted programs are cheaper to produce than scripted programs Game/reality formats are huge profit centers with high margins and long-term steady cash flow  Many major US-created reality series have been adopted abroad including: Next Top Model, Beauty and the Geek, Singing Bee, Don't Forget the Lyrics, Amazing Race, Extreme Makeover: Home Edition, Are You Smarter Than a 5th Grader and Biggest Loser There is increased ability to include interactivity (polling, voting, online play along games, etc.) Multiplatform revenue opportunities (mobile games, online games, SMS, etc.) NOTE: A 6-year trend of reality/game shows as a percentage of primetime hours for the 5 major networks.

4. 3 Investment is Crucial in Order to be Competitive Networks are investing heavily in order to be a big player in the game/reality television business Game/reality shows make up 16 of the top 40 primetime programs among Adults 18-49 and represent 40% of the top 20 primetime programs among Adults 18-49 NetworkProduction/Term Deals Est. Production / Term Deal Budget % primetime hours dedicated to reality/game shows (08-09 Season) Notable Series on Primetime Lineup (08-09 Season) None. Partners with Warner Horizon, BBC, Fremantle and Endemol) N/A 30% Dancing With the Stars, Wife Swap, Extreme Makeover: Home Edition Magical Elves $10M (approx. over 2 years) 16%Biggest Loser, Deal or No Deal None. Partners with Warner Horizon, BBC, Fremantle and Endemol) N/A 40% Idol, Moment of Truth, Are You Smarter Than a 5th Grader? Tom Forman, Jay Bienstock, Laurie Girion, Allison Grodner, Scot Einziger $12.85M (approx. over 2 years and including Forman's deal over 3 yrs.) 9%Survivor, Amazing Race Jay Bienstock and Laurie Girion (broken out from CBS’ overall term deals data) $3.6M (approx. over 2 years) 31%America's Next Top Model

5. 4 Michael Davies’ Embassy Row will be the cornerstone of the game/reality format business –Davies has a proven track record of success in the industry and with SPT –Development of new formats will be based on SPE library product, new U.S.-based development, and acquired international formats Build a portfolio of non-scripted producers, creators and developers with experience developing/running shows and with successful track records Acquire successful international formats for domestic development –Particular focus paid to markets with proven creative credentials such as Europe, South America, India and Australia –This has proven to be a very successful formula  Example: For the Fall 2008-2009 season, 6 of the 18 reality/game shows on network primetime are from foreign formats - 4 from England, 1 from Sweden and 1 from Holland Leverage SPE infrastructure for global distribution, sales and production Partner with 2waytraffic to distribute content and sell formats internationally Utilize SPTI’s global production partners to increase local language development SPT Game/Reality Growth Strategy SPT plans to grow the non-scripted business, in addition to its traditional focus on scripted comedies and dramas

6. 5 SPT Game/Reality Operational Structure TBD “Concept Slide/Flow Chart – Simran to provide”

7. 6 Domestic CategoryName Term (Years) Cost/Yr. (MM)Recoup (1) Deficit (Y/N)SPT % (2) Notes Games Embassy Row (Michael Davies)Acquire$25-75100%N100% (3) Acquire Embassy Row New York based global format and digital production company Created “Who Wants to be a Millionaire” & “Power of 10” Scott St. John2$3100%N50%Executive Producer of Deal or No Deal Reality / Competition Tom Foreman2$2.25100%N50% US based producer Created “Kid Nation” & EP on “Extreme Makeover Home Edition” Allison Grodner2$2100%N50%Executive Producer of “Big Brother” Lisa Levenson2$1.5100%N50% Executive Producer of “The Bachelor” and “The Bachelorette” Production Company Ryan Seacrest1$5100%N50% Hosts the morning show on 102.7 KIIS FM in LA, host of “American Idol”, “E! News” co-host and host of American Top 40 Overall deal similar to “Old Reveille Deal” Rocket Science Laboratories1$5100%N50% Creator of “Temptation Island”, “Joe Millionaire”, “My Big Fat Obnoxious Fiance” Overall deal (1) Recoupable as a cost of production in calculating profit participation. (2) SPT’s interest in created shows. (3) Includes Davies participation. Building a Talent Pool By expanding our relationships with leading producers, SPT can build a robust Game/Reality portfolio

8. 7 International CategoryName/RoleCost (MM)Description Format Acquisition Europe – 2-3 S. America – 1 India – 1 Australia – 1 $2 - $4 Acquire formats abroad and bring them back to the states Assumes Gradual ramp-up $1-2MM per year for headcount $1-2MM for international acquisition budget Distribution2waytrafficN/A Distribute content internationally Limited creative acquisition and production Local ProductionLeverage SPTIN/ASPTI’s local language production partners can help produce locally Additional Resources Significant resources beyond building relationships with successful producers will be required to establish a successful global business

9. 8 Production Assumptions No production deficits No pilot deficits No profit participation for producers until SPT recoups unrecouped portion of deal, directly from producers' participation –Assumes similar revenue share per Michael Davies’ P10 deal –Producers receive 25% Participation on Syndication profits (after costs/fees) –Producers receive 50% Participation on Format and Int’l Distribution profits (after costs/fees/ participation) Profit Assumptions Syndication profits: $2.3M – $14.2M for years 1 - 5 Format profits: $2.1M per year/format (based on Michael Davies’ P10 Ultimate) Recoupment of Overall/Term Deal Expense Cost Assumptions Overall/term deal expense –Assumes one deal renewal per producer –Renewal dollars kept constant Participation for network/talent/other on format/int’l distribution (Example: CBS on P10) Underlying Economic Assumptions

10. 9 Financial Impact w/Renewal (Incremental to Embassy Row and 2waytraffic) Key Assumptions: (1) No production deficits and no pilot deficits (2) Assumes one deal renewal per producer. Renewal dollars kept constant. (3) Producers receive 25% Participation on Syndication profits (after costs/fees). (4) Producers receive 50% Participation on Format and Int’l Distribution profits (after costs/fees/participation). (5) No profit participation until SPT recoups unrecouped portion of deal, directly from producers' participation. (6) SPT charges 10% fee on Formats and Int’l Distribution and 25% fee on Syndication. Total EBIT Cumulative EBIT Cumulative EBIT ~$90M, EBIT breakeven in year ~4 and deepwater mark of ~$30M

11. 10 Combined Financials w/Renewal Key Assumptions: (1) No production deficits and no pilot deficits (2) Assumes one deal renewal per producer. Renewal dollars kept constant. (3) Producers receive 25% Participation on Syndication profits (after costs/fees). (4) Producers receive 50% Participation on Format and Int’l Distribution profits (after costs/fees/participation). (5) No profit participation until SPT recoups unrecouped portion of deal, directly from producers' participation. (6) SPT charges 10% fee on Formats and Int’l Distribution and 25% fee on Syndication.

12. 11 Ryan Seacrest Productions Deal Structure Working Relationship / Scope of Projects Status of Discussions Next Steps TBD [Z&J to describe deal]

13. 12 APPENDIX

14. 13 Sample Production Roster (2009 – 2018) w/Renewal CategoryName/RolePilots 1 st Run (Game Show) Series (Reality/ Comp.) Formats (3+ yrs.) Int’l Local Prod. GamesScott St. John22020 Reality/CompetitionTom Foreman80420 Reality/CompetitionAllison Grodner80320 Reality/CompetitionLisa Levenson80320 Production CompanyRyan Seacrest60300 Production CompanyRocket Science Laboratories60220 International Format AcquisitionFormat Acquisition Team92110 Total47416110

15. 14 Sample Reality TV Strategy Slate w/Renewal

16. 15 Detailed Financials w/Renewal

17. 16 Detailed Financials w/Renewal (Cont’d)