1. SPT Business Overview
November 27, 2012

2. Sony Pictures Television
Business Overview
Sony Pictures Television
Production
Distribution & Ad Sales
Networks

3. SPT Organization Overview
Steve Mosko
President, Sony Pictures Television
Andy Kaplan
President, Worldwide Networks
Andrea Wong
President, Int’l Production
John Weiser
President, Distribution
Michael Davies
President, Embassy Row
Corii Berg
Sr. EVP, Production Business Affairs
Harry Friedman
Executive Producer
Zack Van Amburg
President, Programming
Jamie Erlicht
President, Programming
Keith LeGoy
President, Distribution
Amy Carney
President, Ad Sales, Strategy & Research
Chris Elwell
EVP, Distribution Business Operations
Paula Askanas
EVP, SPT Communications
Sheraton Kalouria
EVP and Chief Marketing Officer 3

4. Organizational Change
Pursued opportunities to drive organizational change around strategy, structure, processes and culture that drive sustainable growth
Merged Domestic and International TV into one Worldwide TV Business
Eliminated regional matrix reporting structures
Consolidated Business Affairs under one head (Corii Berg)
Consolidated Marketing under one head (Sheraton Kalouria)
Consolidated Research under one head (Mumford and now Amy Carney)
Consolidated Contract Sales/Rights Admin under one head (Chris Elwell)
Consolidated International Production Format Sales under International Distribution
Reorganized and transformed a small start-up user generated dotcom (Grouper) into a multi-platform digital network projected to deliver a revenue contribution of $113mm in FY 16

5. Talent Development
Leveraged our high performing/high potential internal talent to create organizational agility in responding to shifting business objectives and market conditions globally in addition to providing individual growth opportunities
Donna Cunningham – EVP Operations – International Production (moved from Culver City to Miami to London)
Maria Smirnova – Managing Director International Production Russia & Ukraine
Mike Wald – EVP Distribution EMEA (moved from Culver City to London)
Jane Dockery – SVP Distribution Global Formats
Ed Louwerse – SVP Production Management, Distribution
Selina Nederhand – VP Distribution LATAM (moved from the Netherlands to Miami)
James Farrell – SVP Distribution, Japan (moved from Canada to Japan)
Simon Bathe – Executive Director Digital Distribution LATAM (moving from Germany to Miami )
Kylie Munnich – SVP Distribution LATAM (moved from Australia to the UK )
Mark Young – SVP Distribution Australia/NZ (moving from UK to Australia)
Angel Orengo – EVP Distribution Asia (moved from Miami to Hong Kong)
Superna Kalle – SVP Networks & GM Sony Movie Channel
Kate Marsh – SVP Western Europe – Networks
Lyle Stewart – SVP CEEMA – Networks
Amy Carney – President Ad Sales, Strategy and Research (moving from NY to Culver City)
Sheraton Kalouria – EVP and CMO Marketing
Philip Martzolf – EVP Syndication Sales
Flory Bramnick – EVP Cable Sales

6. Talent Acquisitions
Effectively increased organizational capability with key strategic hires
Andrea Wong – President International Production (Lifetime Networks)
Wayne Garvie – EVP & Chief Creative Officer International Production (All3Media)
Veronica Pimstein – SVP Creative International Production – Miami (Univision)
Kevin Byles – SVP Distribution – Canada (AVTEL Media Communications Inc)
Lucia Cottone – SVP Development & Current Programming – Networks (Lifetime Television)
John Rossiter – General Manager AXN HU – Networks (HBO)
James Smith – SVP Digital Ad Sales – Crackle (Disney Interactive Media Group)
Rene Santaella – General Sales Manager – Crackle (Disney Interactive Media Group)
Jeff Meier – SVP Programming Sony Movie Channel (Lionsgate Entertainment)

7. Television Business is Growing
SPT EBIT projected to grow at a rate of 15% CAGR
SPT Consolidated EBIT
Networks – Networks projected to have an EBIT CAGR of 23% across the plan, expected to break earnings records in each year. The growth comes from all regions across the world as newer channels mature to profitability and more mature channels grow or maintain their margins
U.S. Production– EBIT projected to grow 21% over the plan from $290MM to $351MM driven by a pipeline of programming sold to SVOD and Off-net syndication
International Production – International Production projected to have an EBIT CAGR of 78% across the plan. Moderate organic growth from existing operating companies is supplemented by EBIT contributions from recent acquisitions Left Bank and Silver River as well as the inclusion of a hit format starting in FY15
$859
15% CAGR
$765
$625
$564
553
FY13 Frcst
FY14 Current
FY15 Current
FY16 Current

8. Sony Pictures Television
Revenue and EBIT – Today and Tomorrow
($MM)
($MM)
Revenue
EBIT
Note: EBIT excludes monetization of $11MM in FY13 and 3NET EBIT of ($6MM) in FY13 and ($2MM) in FY16.

9. U.S. Production

10. What We Do Well, Where We Need Improvement- U.S. Production
What we do really well
What we need to improve
Receive consistently strong pilot orders, pilot to series conversions and series renewal rates
Launch and monetize cable dramas
Grow series on air on a modest development budget
Produce a broad range of diversified content, including for new media
Align production and financial goals
Combine business strategy with entrepreneurship and creativity
Position SPT as most entrepreneurial TV studio
Develop broadcast network hits
Keep a broadcast drama on the air
Collaborate better with International Production in development/exploitation of scripted and unscripted formats
Lead assertively in control of production costs and in improving series economics vis-à-vis network buyers

11. U.S. Production: Forecast
Projected Earnings Growth
Revenue
EBIT
($MM)
Current Series, Pilots & Development Costs
Wheel of Fortune, Jeopardy! & Daytime Dramas
Embassy Row
Library

12. U.S. Production: Organization Overview
Steve Mosko
President, Sony Pictures Television
Jamie Erlicht
President, U.S. Programming
Zack Van Amburg
President, U.S. Programming
Holly Jacobs
EVP, U.S. Reality & Syndication Programming
Suzanne Patmore Gibbs
EVP, U.S. Drama Development
Glenn Adilman
EVP, U.S. Comedy & Animation
Dawn Steinberg
EVP, U.S. Talent & Casting
Helen Verno
EVP, U.S. MOWs / Minis
Steve Kent
Sr. EVP, U.S. Format Production
Kim Rozenfeld
EVP, U.S. Current Programming
Ed Lammi
EVP, U.S. Production

13. SPT Timeline: 2005 – 2012 (excluding Wheel of Fortune, Jeopardy
SPT Timeline: 2005 – 2012 (excluding Wheel of Fortune, Jeopardy!, Days of Our Lives,
Young & The Restless)
Community sold to SVOD and Cable
SPT achieves 39 Emmy nominations
4 new series premiering on all 4 major broadcast networks
Rules sold in syndication in 97% of U.S.
7 shows on 2011 primetime fall schedule (most since 2002)
SPT has broadcast programming on 6 of 7 nights of the 2011 fall schedule
Highest volume year in SPT history with 13 stand-alone profitable series
Three primetime broadcast reality series
SPT has more new broadcast comedy series than any other studio
Rules of Engagement becomes primetime’s #2 comedy
SPT becomes the #1 producer of scripted cable series
SPT achieves 29 Emmy nominations
25 series
The Shield becomes SPT’s first cable-to-cable series sale; $32MM
Charlie’s Angels
Pan Am
Unforgettable
Necessary Roughness
Re-Modeled
Substitute
Breaking In
Franklin & Bash
Happy Endings
The Big C
Nate Berkus
Community
Rules of Engagement
Shark Tank
The Sing-Off
The Boondocks
Breaking Bad
Damages
Drop Dead Diva
Hawthorne
Justified
Rescue Me
Dr. Oz
Newlywed Game
2011–2012
24 series 14
$(86)MM
SPT successfully launches Dr. Oz
Rescue Me sells into U.S. syndication and has an ultimate profit of $55MM
Happy Endings
Mad Love
Mr. Sunshine
Breaking In
Plain Jane
The Big C
Franklin & Bash
Nate Berkus
Community
Rules of Engagement
Shark Tank
The Sing-Off
The Boondocks
Breaking Bad
Damages
Drop Dead Diva
Hawthorne
Justified
My Boys
Rescue Me
Newlywed Game
Dr. Oz
2010–2011
22 series 14
$(85)MM
Mob Doctor
Last Resort
Made In Jersey
Save Me
The Job
Men At Work
Masters of Sex
Client List
Pyramid
Franklin & Bash
Happy Endings
The Big C
Necessary Roughness
Community
Rules of Engagement
Unforgettable
Shark Tank
The Boondocks
Breaking Bad
Damages
Drop Dead Diva
Justified
Substitute
Dr. Oz
Newlywed Game
Only studio to get a new series on each of the 5 broadcast networks
2008–2009
17 series
Sit Down, Shut Up
The Unusuals
The Beast
Newlywed Game
Judge Karen
Rules of Engagement
Spider-Man
Til Death
10 Items or Less
The Boondocks
Breaking Bad
Damages
My Boys
Rescue Me
The Shield
Judge David Young
Judge Hatchett 8
$(63)MM
2009–2010
17 series
Brothers
Community
Shark Tank
The Sing-Off
Drop Dead Diva
Hawthorne
Justified
Make My Day
Dr. Oz
Rules of Engagement
Til Death
The Boondocks
Breaking Bad
Damages
My Boys
Rescue Me
Newlywed Game 12
$(72)MM
2007–2008
17 series
Canterbury’s Law
Cashmere Mafia
Power of 10
Spider-Man
Viva Laughlin
Breaking Bad
Damages
Judge David Young
Rules of Engagement
Til Death
10 Items or Less
The Boondocks
My Boys
Rescue Me
The Shield
Judge Hatchett
Judge Maria Lopez 15
$(78)MM
16 series
Big Day
Heist
Kidnapped
Rules of Engagement
Runaway
Til Death
10 Items or Less
My Boys
Judge Maria Lopez
Greg Behrendt
The Boondocks
Huff
King of Queens
Rescue Me
The Shield
Judge Hatchett
11 series
Book of Daniel
Emily’s Reasons
Love Monkey
Beautiful People
The Boondocks
King of Queens
Huff
Rescue Me
Strong Medicine
The Shield
Judge Hatchett
2005–2006
2006–2007
2012–2013
Pilots
Inv. Pool 16
$(81)MM 16
$(96)MM 9
$(80)MM

14. Current Series, Pilots & Development Costs: Challenges and Opportunities
MRP Assumptions
Challenges
Opportunities
Grow a steady pipeline of programming sold to SVOD and off-net syndication: Last Resort, Happy Endings, Justified
Premier 3 new broadcast network series every year with 1 returning every year for multiple seasons
Premier 2 new cable series each year with all returning for multiple seasons
Keep shows on network to reach syndication
Compete to get shows commissioned, networks pressured to use their own studios
Receive proper promotion from networks
Produce programming that responds to the evolving consumer viewing habits
Combat decline in broadcast network total output (26 this season vs. 30 last season) and new series pick-ups (-3)
Broadcast networks struggle in the ratings and addition complications arise due to Live vs. Live + Delayed viewing (i.e. VOD, DVR)
Invest in A-list writers, directors and producers for future drama / comedy / unscripted development
Develop series with broad international appeal with globally marketable talent to sell in the US and abroad
Grow international revenue through exploring co-production opportunities and maximizing tax credits
Improve production cost controls
Position SPT at the forefront of the burgeoning subscriptions VOD market (Netflix, DirecTV) to sell and develop series
Further identify and develop businesses around Shark Tank, Dr. Oz, and Queen Latifah

15. Wheel of Fortune, Jeopardy
Wheel of Fortune, Jeopardy!, Daytime Dramas: Challenges and Opportunities
MRP Assumptions
Challenges
Opportunities
Keep these 4 series on air through the MRP period with little change in economics over the period
Renew with IGT in FY16
Maintain viewership levels and high licensing fees for mature assets in the face of declining syndicated television viewing
Maintain viewer loyalty when on-air talent retires
Continue to grow despite the lack of direct control over domestic and international sales organizations at CBS
Produce programming that responds to the evolving consumer viewing habits
Extend brands into cable and digital through ancillary programs Sports Jeopardy!, Rock and Roll Jeopardy! and/or Kid's Wheel
Expand brands into other arenas including physical gaming devices (slot machines), branded lottery tickets and other technologies
Exploit digital rights in numerous categories online and on multiple devices
Establish an international gaming platform using the branded shows with the anticipation of legalization of digital gaming in the U.S.

16. Embassy Row: Challenges and Opportunities
MRP Assumptions
Challenges
Opportunities
Develop docu-reality series, talent-based, and real-life competitions
Grow international revenue through exploring opportunities and maximizing tax credits
Shift product mix towards IP / owned series which grow from 6 to 10 over the MRP period
Produce programming that responds to the evolving consumer viewing habits
Develop broad appeal series
Utilize capacity (work-for-hire projects have lower margins)
Grow IP / owned series production with limited development fund
Capture additional opportunities for unscripted programming on certain networks
Develop broad appeal series / minimize work-for-hire
Build a West Coast based unscripted development brand

17. Library: Challenges and Opportunities
MRP Assumptions
Challenges
Opportunities
Grow distribution revenue
Receive premium pricing on aging assets
Appeal to changing consumer preferences and viewing habits
Expand integration / collaboration with International Distribution for maximum global impact of U.S. product
Monetize library through expanded distribution into new platforms (SVOD, FOD)
Continue to identify new distribution windows/opportunities through robust sales planning

18. International Production

19. What We Do Well, Where We Need Improvement- International Production
What we do really well
What we need to improve
Expand footprint of international production businesses
Enter growth markets (e.g., Russia, LATAM)
Streamline production administration and collaboration within and across territories
Develop global hit format
Achieve scale and pipeline in major format generating territories (UK, Netherlands, Scandinavia)
Foster a more creative culture across the organization
Collaborate better with U.S. Production in the development/exploitation of scripted and unscripted formats

20. International Production: Forecast
Int’l Production Projected Revenue and EBIT
Note: EBIT excludes FY13 monetization of $11MM

21. International Production: Organization Overview
Steve Mosko
President, Sony Pictures Television
Andrea Wong
President, Int’l Production
Wayne Garvie
Chief Creative Officer
Donna Cunningham
EVP Operations
Astrid Quentill
SVP & MD – Germany
Mary Chan
VP Production – Asia
Nathalie Civrais
SVP Production – France
Open
SVP & GM – Latin America / U.S. Hispanic
Maria Smirnova
MD Production – Russia and Lean M
Jeff Lerner
SVP, Scripted Dev & Production
Ziad Kebbi
President, SPT Arabia

22. International Production: Challenges and Opportunities
MRP Assumptions
Challenges
Opportunities
Achieve moderate growth from existing operating companies supplemented by EBIT contributions from recent acquisitions Left Bank and Silver River
Assume a hit format starting in FY15
Assume $50MM annual investment fund for FY14-FY16
Excel in an increasingly competitive marketplace
Operate in a challenging economic climate in key markets
Continue to exploit Millionaire, develop a stable base of other successful formats
Make more focused and sustained investment in development, executives, producers, production companies, and new content especially in the UK
Foster a more creative culture to develop intellectual property by:
Realigning the organization, including a new President and a creative head
Combining the print sales and format sales teams to better serve our buyers
Creating a strategically centralized development fund
Implementing a competitive incentive plan
Simplify admin, operational process
Explore opportunities in emerging markets

23. U.S. Distribution and Ad Sales

24. What We Do Well, Where We Need Improvement- U. S
What We Do Well, Where We Need Improvement- U.S. Distribution and Ad Sales
What we do really well
What we need to improve
Distribute TV and movies using a product- centered approach: customized release plans and windowing across platforms for different types of TV series and features
Manage sales planning, forecasting, analytics and business affairs
Collaborate across SPT groups and SPE divisions
Ensure that Distribution deals support and coordinate with Networks carriage deals
Leverage TV deals for home video deals where clients are in both businesses
Rep inventory for PlayStation
Position SPT as a syndication and ad sales leader outperforming others in market
Leverage traditional TV ad sales along with digital inventories/platforms (FearNet, PlayStation)
Improve coordination with Networks and Finance
Improve coordination between ad sales and syndication sales

25. U.S. Distribution & Ad Sales: Forecast
U.S. Distribution Projected Revenue and Profit Contribution
U.S. Ad Sales Projected Revenue and Profit Contribution

26. U.S. Distribution and Ad Sales: Organization Overview
Steve Mosko
President, Sony Pictures Television
John Weiser
President, U.S. Distribution
Amy Carney
President, Ad Sales, Strategy & Research
Thanda Belker
EVP, U.S. Pay & TV Sales
Flory Bramnick
EVP, U.S. Cable
Stuart Zimmerman
EVP, Ad Sales
Richard Burris
EVP, Strategic Planning & Analysis
Phil Martzolf
EVP, U.S. Syndication Sales
Alan Daniels
SVP, Distribution Planning
Travis Howe
SVP, Digital Ad Sales
Chris Kiriakatis
SVP, Digital Ad Sales
David Mumford
EVP, Planning & Research

27. U.S. Distribution: Challenges and Opportunities
MRP Assumptions
Challenges
Opportunities
Increase feature library sales through
Strategic use of driver inventory to leverage broad package sales
Hyper-targeted offerings with premium pricing
Multiple nonexclusive buyers and bulk buys to drive low-rated product
Leverage SVOD licensing and strategic product planning for U.S. channel carriage
Project revenue and corresponding profit contribution swings based on release timing, size of theatrical slate and timing of off-net syndication avails (e.g., Rules of Engagement, Community, Happy Endings)
Maintain Starz relationship after spin-off and deal with uncertainty regarding Starz’s original programming strategy
Achieve substantial library targets in a challenging marketplace
Renegotiate Starz output deal
Sell library film and TV series into non-exclusive subscription deals
Split library windows, license multiple rights, structure non-exclusive deals
Sell slate carve-out windows utilizing more aggressive inventory tracking and planning
Develop consistent flow of first-run product with top talent

28. Ad Sales: Challenges and Opportunities
MRP Assumptions
Challenges
Opportunities
Drive additional revenue for first run through pricing increases and advertiser integrations
Increase share in TV market upfront
Expand list of advertisers for 30s / 10s
Sell at levels of 70% or higher in upfront and sell remaining inventory at premium CPMs
Grow within the limits of available shows
Compete for limited opportunities for 3rd party ad sales representation
Achieve projected pricing despite volatility in U.S. ad market and aging series
Diffuse volatility in TV ad revenue market by growing a strong digital base
Drive additional revenue for first run through advertiser integrations
Expand current base of advertisers for :30s and :10 to off-nets
Find new 3rd party representation opportunities
Continue to support cable / network properties through Branded Entertainment
Develop and pioneer high value-rich media placements on connected devices

29. International Distribution

30. What We Do Well, Where We Need Improvement- International Distribution
What we do really well
What we need to improve
Execute strong output agreements for film and TV
Align with U.S. production better than competition
Leverage across media/lines of business with large consolidated buyers on behalf of transactional, SVOD and traditional TV
Collaborate on transactional businesses with SPHE
Improve and streamline marketing, business affairs, planning and admin support
Integrate format and program sales

31. International Distribution: Forecast
Strong and consistent growth
Int’l Distribution Projected Revenue and Profit Contribution
($MM)

32. International Distribution: Organization Overview
Steve Mosko
President, Sony Pictures Television
Keith LeGoy
President, Int’l Distribution
Ed Louwerse
SVP, Product Management
Paul Littman
SVP, Global Sales
Mike Wald
EVP, Distribution EMEA
Alex Marin
SVP, Distribution, Latin America
Angel Orengo
EVP, Distribution, Asia/Pacific
Kevin Byles
SVP, Distribution, Canada

33. International Distribution: Challenges and Opportunities
MRP Assumptions
Challenges
Opportunities
Drive TV product revenue growth through sustained delivery of network dramas
Invest in International Distribution
Drive revenue pipeline through new market entrants
Establish stronger relationships in key markets
Handle shifts in feature film slate
Ensure we keep rights to key revenue-driving feature film franchises
Access to breakout / hit drama
Broaden scope of broadcaster relationships to explore English language, European content, co-production opportunities
Exploit opportunities for distribution into new platforms (SVOD, FOD)
Close long-term deals in key markets
Focus on select emerging markets to expand SPT’s presence and better capitalize on opportunities (Netherlands, Scandinavia, Poland, Hungary, South Africa)
Broaden scope of broadcaster relationships to explore English language, European content and co-production opportunities

34. Networks

35. What We Do Well, Where We Need Improvement- Networks
What we do really well
What we need to improve
Launch new channels, move early in growth markets
Grow revenue and EBIT
Establish Crackle as a market leader in its category
Strengthen network brands and programming identities for existing channels
Build a bouquet of digital networks
Focus on hit shows, especially for mature networks (e.g. GSN, SET Brazil/LATAM)

36. Networks: Forecast Projected Earnings Growth
EBIT projected to reach over $500 million in FY16, projected to grow at a 23% CAGR over the MRP period
As a result of recent investments, North America and Europe projected to grow as a percentage of Networks’ EBIT from 24% in FY13 to 36% in FY16
($MM)
EBIT Margin:
17.4%
16.7%
18.2%
19.5%

37. Networks: Organization Overview
Steve Mosko
President, Sony Pictures Television
Andy Kaplan
President, Worldwide Networks
Eric Berger
EVP, Digital Networks
Marie Jacobson
EVP, Programming & Production
Masao Takiyama
SVP, Japan
George Chien
SVP, Networks, Asia
Superna Kalle
SVP, GM, Sony Movie Channel & Cine Sony
Bob Billeci
EVP, Technical Operations
T.C. Schultz
EVP & MD, Latin America
Ricky Ow
EVP, Singapore
Kate Marsh
SVP, Western Europe
Lyle Stewart
SVP, Central EMEA

38. Networks: Challenges and Opportunities
MRP Assumptions
Challenges
Opportunities
Grow in all regions across the world as newer channels mature to profitability and more mature channels grow or maintain their margins
Focus next 18 months on maximizing efficiencies in existing operations
Increase investment in Crackle U.S. advertising and technical infrastructure
Grow ad revenues despite the global pressure on ad sales driven by macro economy
Operate under economic volatility and political uncertainty in Latin America
Develop growth strategies for smaller up-and-coming territories
Keep content costs in line
Launch channels in new and existing territories
Increase investment in Crackle U.S. ad and technical infrastructure
Maximize value in Crackle US and expand internationally (Latin America, UK, Canada)
Expand SPTL Asia facility to service EMEA channels
Consider portfolio synergies with GSN
Grow digital through new or add-on acquisitions

39. Closing

40. Other Ideas for Change SPHE Management of the Lot Outside financing
AMC
Expand Embassy Row west coast
Ad Sales synergies
Airline sales