CONFIDENTIAL Relativity TV Slate Financing Proposal Summary March 4, 2008

page 1 Slate Financing Overview Relativity to provide financing of 50% of the production budget of scripted series developed during the term plus select existing series, to be negotiated with Relativity. –Financials in this package assume all existing series projected to recur are included with the exception of Boondocks and Rescue Me. Deal reduces upfront production investment and cash needs in exchange for a share of distribution profits. Deal provides a benefit for short-run, unprofitable series as well as time value of money benefit (both P&L and Cashflow) on long running series. Although, success profit sharing risk is the trade-off. Deal structure should result in off-balance-sheet accounting treatment Relativity’s initial proposal misaligns the risk-reward ratio in favor of Relativity. SPT’s counter-proposal re-balances risk between SPT and Relativity.

page 2 Relativity Proposed Slate New 07/08 Series –BREAKING BAD –DAMAGES Assumed New Series: 08/09 – 10/11 –3 New Broadcast Network Comedies –5 New Broadcast Network Dramas –1 New Cable Comedy –3 New Cable Dramas Relativity has proposed investing in 75% of SPT’s Scripted Primetime Slate for the next 3 years. Additionally, Relativity has also requested inclusion of any Scripted Primetime show which started air in the last two years. Given the Budget / MRP production assumptions, Relativity could invest in up to a total of 18 series (if they chose to invest in 100%). Existing Series 07/08 –RULES OF ENGAGEMENT –TIL DEATH –10 ITEMS OR LESS –MY BOYS

page 3 Relativity Proposal 50% of Series production costs 3 years No Overhead No Initial Market 10% Distribution No Interest charged by SPT, therefore no interest charged by 3 rd party debt $500k / series / season for budgets under $20m $1m / series / season for budgets over $20m 2.5% “Studio Fee” 5% “RTF Fee” Scripted Broadcast and Cable Network Series Minimum of 75% of Primetime scripted series including those which commenced in the prior 2 years No explicit creative approvals Relativity to be provided with a comprehensive evaluation package including financial projections Investment Term SPT Fees Relativity Producer Fees Financing Fees Included Product Commitment Relativity Approval SPT Counter Proposal 50% of Series production costs 3 years No Overhead No Initial Market 12.5% Distribution 2.5% Distribution fees deferred to “Studio Fee” –Studio fee Deferral stops at Cash Break-even Mutually no interest $500k / series for budgets under $20m $1m / series for budgets over $20m See fee deferral above No “RTF Fee” Scripted Broadcast and Cable Network Series All Primetime scripted series including select series which commenced in the prior 2 years. Potentially allow 1 exclusion / year decided at time of pilot order. No explicit creative approvals Relativity to be provided with a comprehensive evaluation package including financial projections

page 4 Financial Impact - EBIT Estimated EBIT benefit * is a combination of reduced production deficits on loss series less Relativity’s share of profits on profitable series. Note * : Assumes Relativity invests in all series. Assumes off-balance sheet accounting treatment. FY09 is estimated using current Budget production volume and economic assumptions. FY10 & FY11 are based on current production volume assumptions.

page 5 Financial Impact - Returns and Profit Split Relativity’s proposal results in an uneven sharing of risk and profits with 63% of the profits being retained by Relativity SPT’s proposal provides a far more beneficial sharing of risk and profits with 32% going to Relativity and 68% being retained by SPT. –More reasonable profit sharing is achieved by reducing the Gross Corridor to 2.5% and increasing SPT’s distribution fees slightly from 10% to 12.5%. Note: Figures assume Relativity invests in 100% of SPT’s series produced during the term rather than the minimum 75%. Given the uncertainty of the network order, no investment is assumed for CANTERBURY’S LAW and CASHMERE MAFIA..