Market Trends and SPT Initiatives May 13, 2009

DRAFT page 2 PRIVILEGED AND CONFIDENTIAL Launch new product offerings: Early window / day-date Use the successful launch of Dr. Oz to become official distributor of future Harpo shows Distribute additional product through our digital distribution network Build Crackle.com into an online entertainment destination and attractive outlet for advertisers Integrate Crackle into overall studio and leverage marketing and content resources Grow our reality / format business through Embassy Row, 2waytraffic, and other producers Further develop new shows in partnership with Harpo Productions Programming Digital Networks Distribution & Licensing Ad Sales Aggressively build our digital ad sales business with Crackle as the foundation Continue to pursue third party representation and acquisition of complementary businesses Introduction to Sony Pictures Television Expand FEARnet into a linear network Create new, targeted shows on GSN and integrate skill-based gaming Equity Investments

DRAFT page 3 PRIVILEGED AND CONFIDENTIAL Launch new product offerings: Early window / day-date Use the successful launch of Dr. Oz to become official distributor of future Harpo shows Distribute additional product through our digital distribution network Build Crackle.com into an online entertainment destination and attractive outlet for advertisers Integrate Crackle into overall studio and leverage marketing and content resources Grow reality/format business through Embassy Row, 2waytraffic, and other producers Further develop new shows in partnership with Harpo Productions Programming Digital Networks Distribution & Licensing Ad Sales Aggressively build our digital ad sales business with Crackle as the foundation Continue to pursue third party representation and acquisition of complementary businesses Items to Discuss in Greater Depth Expand FEARnet into a linear network Create new, targeted shows on GSN and integrate skill-based gaming Equity Investments

DRAFT page 4 PRIVILEGED AND CONFIDENTIAL Market Trends and SPT Initiatives Trends Initiatives Domestic and international demand for alternative programming (e.g., reality, game shows) continues to grow Alternative programming is a low cost option compared to traditional primetime comedies / dramas Exploit SPE assets (library, Embassy Row and 2waytraffic) to develop and acquire game and reality formats for domestic and international distribution Expand relationships with executive producers and production companies by investing in overall deals, series enhancements and first looks PPV / VOD market expected to grow between 5-15% CAGR through 2012 (a) Launch new product offerings, HD early window / day-date to grow demand for VOD, drive revenue growth and increase margins (a) SNL Kagan and Screen Digest Demand for HD content leaves the door open for new linear channels Explore launching a FEARnet HD linear channel

DRAFT page 5 PRIVILEGED AND CONFIDENTIAL SPT Alternative Programming Strategy Harness the power of Sony assets to create shows with brand value –Refresh and re-launch proven game shows from SPT’s extensive TV library –Create new reality formats from film and TV properties Source international formats for domestic production from 2waytraffic Expand on Embassy Row’s extensive development pipeline Leverage Michael Davies’ international credibility to reinvigorate Sony brands (Pyramid) and launch new shows with global potential (All Star Mr. and Mrs., American Bandstand) Acquire 3 rd party formats for domestic and international production and distribution Seek global rights (format and distribution) to feed 2waytraffic pipeline Expand network of domestic producer partnerships Incremental investments can include overall deals, series enhancements and first looks Sony Assets Embassy Row 3 rd Party Producer Relationships

DRAFT page 6 PRIVILEGED AND CONFIDENTIAL Snapshot of Alternative Programming Make My Day*Pyramid** The Empire**Strongest American** Hogs & Heifers**National Bible Championships** Honey Please**All Star Mr. & Mrs.** It’s a Knockout: U.S. vs. France**Your Kid’s an Idiot *** The Sing Off (Deb Newmyer)*Back to School (Matt Assmus)*** Love Roulette (Kalissa Miller)**Showroom Wars (Kristi Kaylor)*** Hell’s Canyon (Rebecca Hayes)***Kid Talent Agency (Muskat/Radnitz)*** Sony Assets Embassy Row 3 rd Party Producer Relationships Arthur Smith & Co. (Hell’s Kitchen)Vincent Rubino (Million Dollar Password) Shark Tank (Mark Burnett)*Pursuit of Happyness (Will Smith)*** Newlywed Game (Michael Davies)*Dating Game (Michael Davies)*** Power of 10 (Michael Davies)* *** In-production *** Pilot / presentation orders *** SPT active development

DRAFT page 7 PRIVILEGED AND CONFIDENTIAL Digital Extensions The Power of Successful Game Show Formats Distribute to local stations groups for license fees Utilize brand integration to provide prizing, promotions, and production support Reruns on cable / GSN Generate international licensing and format revenues through 2waytraffic –License program in international territories for broadcast –Sell formats internationally Online casual, console, portable, and PC games drive revenues and promote viewership –Create and launch mobile games in the US –Work with PlayStation to launch console and online skill-based games Generate slot machine license fees (Ex. Wheel of Fortune has generated ~$340MM lifetime to date from IGT) Rights can also be licensed for terminal- based state lotteries, board games, and various merchandise Other International Sales Linear Program There is significant international and cross-platform potential for game show / reality formats

DRAFT page 8 PRIVILEGED AND CONFIDENTIAL SPT PPV/VOD: Day-Date Strategy and Early Window Early Window Day-Date (SD and HD) The early window would be launched no earlier than 90 days post-theatrical and likely 4-6 weeks before the traditional home video street date –Looking to initially launch as broadly as possible to validate a new window  At a minimum, this would include PlayStation and Xbox as they are able to meet technical requirements. Shortly thereafter, we are seeking participation by cable and satellite companies –Leverage PlayStation’s large install base (~8MM) creating a small MSO –FCC waiver likely required for other MSO and satellite providers to opt in –HD PPV/VOD product would be priced between $20-25, generating a substantial premium over today’s rental pricing SPT expecting to launch day-date offering in Q2 FY10 –$5.99 HD/$4.99 SD through entire window vs. $4.99 HD/$3.99 SD with the goal of moving to premium price point over current day-date offerings –Committing to a subset of titles (5-8) in FY10 including Angels & Demons, Pelham 123 and Ugly Truth –Uplift of 36-39% expected for day-date titles on an ultimate basis

DRAFT page 9 PRIVILEGED AND CONFIDENTIAL The Proposal – Title Specifics

DRAFT page 10 PRIVILEGED AND CONFIDENTIAL FEARnet HD Linear Channel Opportunity Long-term demand for HD has re-opened window for carriage of new networks –Increased capacity through new satellites and services (e.g., IPTV) –HD content being used as a differentiator among service providers –Limited window as more SDTV will become HDTV Although an HD linear launch will require further investment, the addition of an HD channel will improve FEARnet’s long-term profitability –Expands potential universe of carriers to those seeking HD content and having limited VOD (e.g., DirecTV, Time Warner) –Increased revenue through addition of more ad units Restructuring FEARnet to transition operations and control to Sony and Lions Gate from Comcast –May increase likelihood of linear carriage with Comcast competitors, including DirecTV