1. Confidential Starz Deal Overview of Benefits for Sony-owned Platforms January 9, 2009

2. Confidential 1 Starz Deal Overview In exchange for substantial license fees, our previous Starz deal licensed exclusive rights to our films during the Pay window through 2013 Like other Pay TV channels (HBO, Showtime) Starz’ exclusivity placed restrictions on the studio’s ability to offer on-demand services through traditional customers (MSOs, DBS) and owned platforms (BIVL, PSN) Under our new deal with Starz, we have significantly improved our ability to offer on-demand services –PPV / VOD / EST -- Broadened our rights to offer PPV, VOD and EST for final 3 months of what are normally exclusive Pay 1 and Pay 2 windows –PPV / VOD viewing period -- extended viewing period from 24 hours to 72 hours –PPV / VOD for early windows -- Clarified our rights to introduce “Home Theater” offerings –Free on-demand -- Secured right to bundle 2 “free on demand” titles per year with Sony hardware –Subscription on-demand -- Secured MFN, ensuring Sony can offer the Starz subscription on-demand channel on Sony platforms with favorable terms –Mobile -- obtained right to exhibit 6 titles (<$50m DBO) per year on our mobile channels during network window –EST -- Reduced EST pricing floor during Pay 2 –Open Market -- Clarified our right to partner with cable MSOs for digital locker re-delivery of EST/PPV/VOD

3. Confidential 2 Deal prohibited PPV / VOD / EST on cable, satellite, and IPTV platforms during Starz window Permitted PPV / VOD / EST on internet and new media services any time during Starz window Deal TermsImplications PPV / VOD / EST During Starz Window If BIVL or PSN operated as a traditional open internet / web site service they could offer PPV / VOD/EST titles during Starz window If BIVL or PSN morphed into IPTV providers (effectively cable competitors) they were prohibited from offering PPV/VOD/EST titles during Starz window Previous Starz DealNew Starz Deal Secured rights to offer PPV / VOD / EST on cable, satellite, and IPTV platforms during last 3 months of Starz window Retains rights for PPV / VOD / EST on internet and mobile during Starz window Allows BIVL and PSN PPV/VOD/EST offerings to partially overlap with Starz window even if these services become IPTV providers Clarifies rights to offer PPV / VOD / EST on mobile platforms

4. Confidential 3 Sony’s PPV / VOD offerings (through MSOs, DBS, and owned platforms) was limited to a 24 hour viewing period Sony’s PPV / VOD offerings (through MSOs, DBS, and owned platforms) extended to a 72 hour viewing period Deal TermsImplications PPV / VOD Viewing Period Limited the value of potential VOD offerings on BIVL and PlayStation Limited our ability to drive PPV/VOD revenue through 3 rd parties Previous Starz DealNew Starz Deal Significantly increases the appeal of PPV / VOD offerings on Sony Platforms and 3 rd party providers

5. Confidential 4 In general, if Sony offered PPV/VOD offerings in advance of DVD date, Pay 1 window was triggered early [Not true] Only exception [Not true] was for a restrictive “Home Theater Offering” –Only counted if 30 days before or after theatrical release and at 3x price of a theatrical ticket “Home Theater” definition significantly expanded Any PPV / VOD offering between theatrical and before DVD will be exempted from triggering the Pay window as long as the price is 2x the price of a theatrical ticket Deal TermsImplications PPV / VOD for early windows Very limited ability to offer high- value, early-window offerings on our platforms and through 3 rd parties Previous Starz DealPrevious New Starz Deal Makes early window offerings viable for BIVL and PlayStation CHECK THIS WITH CHRIS

6. Confidential 5 Sony was not allowed to offer pictures on a free-on demand basis prior to the network window Sony is allowed to exhibit 2 pictures per year on FOD basis if packaged with a Sony consumer electronics product priced at or above $100 and promotion is up to 2 months in length No box office restriction (can offer our best titles) No timing restrictions (can offer at any time after theatrical release) Deal TermsImplications Free On-demand and Implications for Sony Hardware Bundles Hancock was not able to be bundled “free” with the purchase of a BIVL Previous Starz DealNew Starz Deal Going forward, Sony can bundle a free on-demand viewing of our two biggest titles each year with purchase of BIVLs, PlayStations, or other hardware

7. Confidential 6 Starz could make subscription make subscription on-demand offerings available on it’s own platforms (e.g., Vongo) or through third parties (e.g., Fancast for Comcast cable customers) without allowing Sony to offer Starz Play on our own platforms Starz must make Starz Play available for Sony Platforms (e.g., PlayStation and BIVL) directly or through partners MFN on service terms is in place through 2012 Deal TermsImplications Subscription on-demand during Starz Window It was feasible for our titles to be offered online during the Pay window on multiple sites but not Sony’s own platforms Previous Starz DealNew Starz Deal Ensures BIVL and PlayStation will be able to offer a compelling subscription on-demand offering and provides leverage for favorable deal terms

8. Confidential 7 Subscription on-demand was not allowed during the network window (between Pay 1 and Pay 2) Obtained right to exhibit 6 titles (with under $50MM in domestic box) per year on Crackle / Pix mobile channels during the network window Deal TermsImplications Mobile Crackle and Pix mobile could only have library titles on non-ad supported channels Previous Starz DealNew Starz Deal Enables Crackle and Pix to introduce blockbuster / marquee titles into subscription mobile channels

9. Confidential 8 EST was allowed in Starz window but with pricing floors Pricing floor during Pay 2 implied a minimum wholesale of $6.95 Pricing floor during Pay 2 reduces minimum wholesale price to $3.50 Deal TermsImplications EST Pricing Floor During Pay 2 Pricing floor was unrealistically high for older (Pay 2) titles, limiting the EST business Previous Starz DealNew Starz Deal More realistic pricing will help grow EST during the Pay 2 window

10. Confidential 9 XX Deal TermsImplications Digital Locker and the Open Market Philosophy X Previous Starz DealNew Starz Deal X

11. Confidential 10 Here are thoughts on “deal terms/implications” for new deals points I hilighted –Obtained the right to exhibit 6 titles (<$50m DBO) per year on a Crackle/Pix mobile channel during the network window Previously: no SOD allowed on any platform b/w pay 1 & 2 which meant we could only have library titles on any non-ad supported crackle/pix implementation. Now on mobile we can use newer titles. 6 per year – but that’s fine for mobile where shelfspace is limited anyway. This service is directly competitive w/starzplay but they gave it to us. The rights are nonexclusive to starzplay – they can practically use them on a linear service only not an SOD sevice –Reduced EST pricing floor during Pay 2 The deal allows EST during starz windows provided we don’t underprice. We relaxed an impacractial pricing floor during pay 2 allowing us not to have to take titles down. Constant availaibltiy for est is an important product feature. –Removed prohibition to do PPV, VOD and EST on cable/sat/iptv for final 3 months of Pay 1 and Pay 2; Allows mobile ppv/vod/est during licenese periods. The deal has always prohibited ppv/vod and est on cable/sat/iptv during the starz periods and used to permit these only on the Internet. New deal (a) allows cable/sat/iptv ppv/vod/estduring last 3 mo of license pds and (b) says we can do mobile est/ppv/vod at any time. –Clarified we can use cable for digital locker re-delivery of est or ppv/vod rights Previous deal prohibited an Open Market “digital locker” redelivery over cable during the license peridos, creating a potentially confusing consumer offering,. New deal allows us to redeliver over cable/sat/iptv at any time.