AFC Network Private Ltd

On 15 April 2013 we announced the sale of our entire investment in AFC, which operates the Asian Food Channel, a 24-hour TV channel broadcasting food and lifestyle programming tailored to audiences in the Asia Pacific region. The sale was part of the acquisition by Scripps Networks Interactive Inc. ("Scripps") of 100% of AFC. Scripps acquired AFC to strengthen its competitive position in Asia. Scripps is one of the world's leading developers of lifestyle-oriented content for television and the Internet with a media brand portfolio that includes HGTV, Food Network, Travel Channel, DIY Network and Cooking Channel, amongst others. The gross proceeds from the sale of Symphony's interest in AFC represented a gain over cost of approximately 94%. We made our first investment in AFC in 2008 and the proceeds from the sale represented less than 5% of our NAV.