Crown Media Holdings not to sell Hallmark Channel US

MUMBAI: Crown Media Holdings, Inc., which owns and operates the Hallmark Channel, has decided not to sell out the channel. The company, after extensive review of strategic alternatives including a possible sale of the company, announced that the board of directors has decided to terminate this process and fully commit the company's resources to continuing to operate its channels and its VOD and HD programming services.

"We worked diligently with the Special Committee and our financial advisors to evaluate various strategic initiatives. Ultimately the board determined that the greatest value for our shareholders will be derived by our continued operation of our business. Given the record ratings results, subscriber growth, and solid advertising and subscriber fee revenue increases we have been able to achieve, we believe that the underlying business fundamentals are in place to enhance the value of Crown Media by building a more successful business. Our results in the first quarter continue to reflect the success of our programming strategy and subscriber expansion as we solidify our appeal to viewers and advertisers on a broad national level," stated Crown Media Holding president and CEO David Evans.

"Our management team is prepared to meet the challenges ahead with the talent and experience that have made us a top ten cable channel with over 72 million subscribers. We intend to implement cost saving strategies and emphasize programming and marketing promotions to continue our efforts to target a younger audience. We have initiated discussions with our distributor partners in order to renew our licenses and intend to aggressively pursue those renewals on favorable terms. We will continue to pursue opportunities to improve our capital structure. We are extremely pleased to have the support of our partners as we work together to operate the business on a long-term basis," he added.

Hallmark Cards, Inc., which owns 67 per cent of Crown Media, has indicated its continuing support of the channel by agreeing to extend its trademark license agreement with Crown Media.

"We are proud to be associated with a channel with such strong ratings and advertiser support. Our relationship with Crown Media has been mutually beneficial. Crown Media has been able to leverage the consumer recognition and strength of the Hallmark brand and together we have collaborated on successful co-marketing programs between Hallmark Channel and the more than 4,000 Hallmark Gold Crown stores," said Hallmark Cards, Inc. president and CEO Don Hall Jr.

The company had announced in August 2005 that its board of directors had authorised management to explore strategic alternatives for the company. After pursuing a number of alternatives and meeting with interested parties, the company and the Special Committee of the board has determined that the best course of action at this time is to continue to operate the business. The company will continue to explore ways in which it can improve its capital structure.

Latest Reads
World Television Premiere of Judwaa 2 on Star Gold

This Christmas, Star Gold dons the Santa hat promising to indulge its viewers with double the entertainment, double the excitement and double the fun! The Home of Blockbusters announces the World Television Premiere of one of the most sought after films of the year – Judwaa 2. The film that raked...

Television TV Channels Movie Channels
Eros International inks co-production pact with Drishyam Films

Eros International Media Ltd (Eros International) has signed a four-film co-production deal with leading production house, Drishyam Films.

Television Production House Film Production
ITW Consulting bags in-stadia ad rights for Ind & Aus tours of SA 2018

ITW Consulting, India-based sports management company, has acquired in-stadia advertising rights for the Indian and Australian Tours of South Africa for 2017/2018. ITW Consulting rights will market and sell these in-stadia advertising rights to non-South African companies and entities.

Television TV Channels Sports
Nickelodeon kid's choice awards 2017

Nickelodeon Kid's Choice Awards (KCA) 2017, presented by Dabur Red Paste, powered by Jolly Rancher in association with Yellow Diamond and Funskool and Apis Honey took place on 15 December 2017.

Television TV Channels Kids
Focus Group to launch Kannada news channel

Focus Group is now focusing on south India with its upcoming news channel Focus TV Kannada News.

Television TV Channels News Broadcasting
Panchal helps Star Bharat top Hindi GECs across genres

Optimystix Entertainment’s Indian comedy sitcom Kya Haal Mr. Panchal on Star India’s FTA Hindi GEC Star Bharat has been amongst Broadcast Audience Research Council of India’s (BARC) weekly list of top-five Hindi GEC programmes in the HSM markets, more so during primetime. In week 49 of 2017:...

Television TV Channels Viewership
&Privé HD celebrates the birthday of the Steven Spielberg

&Privé HD, the English movie channel, presents Club Privé: Spielberg Edition – a curation of five of Spielberg’s best movies exploring different sides of human emotions. The special will air from 18 to 22 December at 11 pm only on &Privé HD.

Television TV Channels English Entertainment
Green Gold’s golden Mumbai launch

MUMBAI: Green Gold Animation is all set to hit the green running with its new offshoot Golden Robot. The Rajiv Chilaka-run animation outfit has been wowing everyone with its deals for animation series with both Netflix and Amazon Prime.  But the occasion this time was the celebration of the launch...

Television Production House Film Production
Gujarat elections boost news channel ratings as Republic continues to lead English News

BENGALURU: Rahul Gandhi’s shenanigans and Narendra Modi’s sudden and unexpected belligerence at rallies leading up to the Gujarat state assembly elections have resulted in bolstering sagging news viewership, especially for the English news genre. According to Broadcast Audience Research Council of...

Television TV Channels News Broadcasting

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories