CONFIDENTIAL
DRAFT
SPE INVESTMENT
OPPORTUNITIES
October 8, 2010
DRAFT AS OF
8 OCT,
10:30AM
CONFIDENTIAL
DRAFT
SPE Investment Opportunities
Preliminary discussions are taking place on the following deal
Opportunity
Cash
Estimate1
Resulting Equity
Position
Teleset2
Buy incremental 1%
$1M
51% (step up from 50%)
Obligation to buy
remaining 49%
$15-20M
100% (step up from 51%)
Notes:
Description
Teleset is a production company in
Colombia; initial transaction would be to
exercise an option to acquire an
incremental 1% to gain control; a put for
49% would then become active
1. Cash investment does not assume repayment of any outstanding debt and are very early estimates subject to change should deal progress
2. Included in MRP financial estimates
SPE Investment Opportunities
CONFIDENTIAL
DRAFT
Based on early discussions with counterparts, the following deals would be strategic if
fund are available for investment and owners prove receptive to selling
Opportunity
Cash
Estimate1
Resulting Equity
Position
Description
Discovery Networks2
$25M
50%
Several of Discovery's smaller UK cable
networks
GSN
$150M
51% (step up from 35%)
U.S. Cable Network; SPE currently holds
35%
MSM India
$150-225M
100% (buy out partners’
38% interest)
Buy-out existing partners in Indian
networks
Maa TV
$50M
51%
Indian regional (Telugu) TV network
ALL3MEDIA
$175-375M
51% - 100%
UK production company
Shine
$210-340M
51% - 100% (step up
from 20%)
UK production company (exit is currently
under consideration assuming we cannot
gain control; but consider buy-up if
control is feasible)
Notes:
1. Cash investment does not assume repayment of any outstanding debt and are very early estimates subject to change should deal progress
2. Included in MRP financial estimates
Transactions Under Internal Consideration
CONFIDENTIAL
DRAFT
The following deals may also present expansion opportunities, however counterparts
have not yet been engaged to validate interest and strategic fit
Opportunity
Cash
Estimate1
Resulting Equity
Position
Description
Hallmark-GSN
merger
$200 - $300M
50%
If GSN control secured, merge with
another U.S. cable network(s)
Ovation
$350M
100%
U.S. TV network
Fuel
$150M
100%
U.S. TV network
MGM
$50-100M
50%
International TV networks
Note:
1. Cash investment does not assume repayment of any outstanding debt and are very early estimates subject to change should deal progress