ESPN Classic

Pay & Specialty – Financial Summary 2010-2014

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
305424608 ESPN Classic The Sports Network Inc. BCE Inc. Specialty (category B service) 2014

Revenue ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Residential/bulk/smatv subscriber revenue 1,380,830 1,379,319 -0.11 1,479,548 7.27 1,476,268 -0.22 1,544,927 4.65 2.9
DTH revenue 1,284,074 1,248,115 -2.80 1,282,688 2.77 1,222,719 -4.68 1,282,243 4.87 0.0
Local advertising revenue 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
National advertising revenue 305,299 286,654 -6.11 270,218 -5.73 219,895 -18.62 208,014 -5.40 -9.2
Other revenue 0 0 n/a 0 n/a 0 n/a 0 n/a
Total Revenue 2,970,203 2,914,088 -1.89 3,032,454 4.06 2,918,882 -3.75 3,035,184 3.98 0.5

Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Programming and Production 488,298 433,293 -11.26 593,983 37.09 651,918 9.75 416,733 -36.08 -3.9
Technical 934,781 940,036 0.56 747,770 -20.45 699,340 -6.48 701,304 0.28 -6.9
Sales and Promotion 213,416 220,720 3.42 227,075 2.88 219,226 -3.46 205,222 -6.39 -1.0
Administration and General 597,378 615,011 2.95 629,150 2.30 639,572 1.66 653,369 2.16 2.3
Total Expenses 2,233,873 2,209,060 -1.11 2,197,978 -0.50 2,210,056 0.55 1,976,628 -10.56 -3.0

Performance ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Income 736,330 705,028 834,476 708,826 1,058,556
Depreciation 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
P.B.I.T. 736,330 705,028 834,476 708,826 1,058,556
Interest Expense 0 0 n/a 0 n/a 0 n/a 0 n/a
Adjustments - Gain (Loss) 0 0 n/a 0 n/a 0 n/a 0 n/a
Pre-tax Profit 736,330 705,028 834,476 708,826 1,058,556

Canadian Programming Expenses ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Acquisition of rights 52,772 33,862 -35.83 2,615 -92.28 0 -100.00 0 n/a -100.0
Script & concept 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Filler Programming + Program Production 190,259 171,794 -9.71 377,722 119.87 441,443 16.87 412,550 -6.55 21.4
Investment in Programming 0 0 n/a 0 n/a 0 n/a 0 n/a n/a
Total Canadian Programming 243,031 205,656 -15.38 380,337 84.94 441,443 16.07 412,550 -6.55 14.1
Canadian Programming/Revenue (%) 8.18 7.06 12.54 15.12 13.59

Staff ($)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Total Remuneration 142,664 143,118 0.32 142,118 -0.70 134,496 -5.36 152,047 13.05 1.6
Total Staff Count 2 2 0.00 2 0.00 2 0.00 2 0.00
Avg Remuneration 71,332 71,559 0.32 71,059 -0.70 67,248 -5.36 76,024 13.05 1.6

Subscribers
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Subscribers 1,038,634 1,092,322 5.17 1,127,561 3.23 1,028,723 -8.77 955,903 -7.08 -2.1

Profitability (%)
2010 2011 Var % 2012 Var % 2013 Var % 2014 Var % CAGR (%)
Operating Margin 24.8 24.2 27.5 24.3 34.9
P.B.I.T. Margin 24.8 24.2 27.5 24.3 34.9
Pre-tax Margin 24.8 24.2 27.5 24.3 34.9
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