Crown Media, Owner of Hallmark Channel, Takes Earnings Hit

Aug 13, 2010  •  Post A Comment

Crown Media, owner of the Hallmark Channels, saw a "second-quarter net loss [of] $9 million, or 8 cents per share, compared to $5.3 million, or 5 cents per share, a year ago," reports former TVWeeker Jon Lafayette, who now works for B&C

According to the article, "Revenue fell 4% to $65.7 million in the quarter. Subscriber revenue was flat in part because the National Cable Television Cooperative has not renewed its agreement to distribute Hallmark Channel, while ad revenue dropped 4% to $49 million. Crown blamed the decline on lower ratings."

On the bright side, Hallmark CEO Bill Abbott touted the company’s upcoming daytime block though its deal with Martha Stewart Living Omnimedia.

Abbott said, according to the story, ""We are very excited about the introduction of our new original lifestyle programming on Hallmark Channel, and the unprecedented move of an original series ["Martha Stewart Living"] ]from broadcast network to cable. This is an ideal partnership in terms of brand, audience and content, and we are looking forward to seeing our vision become a reality on September 13th. Early indications from advertisers and distributors confirm our expectations of the combined value and appeal of our new daytime format."

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