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Crown Media Reports Narrowed Q2 Loss

Aug 9, 2004  •  Post A Comment

Crown Media Holdings, the owner of the Hallmark Channel, on Monday reported a narrowed second-quarter loss of $40.6 million, compared with year-earlier red ink of $49.4 million.

Meanwhile, CEO David Evans said he was “very pleased” with the offers the company has received for its international operations and that he hopes to choose a buyer by the end of the third quarter.

Revenue for the Greenwood Village, Colo.-based company climbed 23 percent to $55.8 million, driven largely by U.S. affiliate-fee and subscriber growth. The U.S. channel ended the quarter with nearly 61 million homes passed, up 17 percent from a year ago.

Advertising revenue at the U.S. channel surged 33 percent to $31.5 million, while affiliate-fee revenue rose 13 percent to $20.2 million, driven largely by the end of free-preview periods for several cable operators.

Internationally, the Hallmark Channel recorded a 1 percent increase in subscribers to 57.3 million.