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Crown Media Posts Narrowed Q3 Loss

Nov 7, 2005  •  Post A Comment

Crown Media Holdings, the parent of cable network Hallmark Channel, said Monday that it posted a narrowed third-quarter loss of $65.8 million, compared with year-earlier red ink of $105.8 million. Revenue soared 62 percent to $50.7 million.

The company attributed its results to continued ratings and subscriber growth at the channel.

For the period, Hallmark Channel reported a 90 percent surge to $4.6 million in subscriber-fee revenue, driven by increased distribution and the end of waived subscriber fees for a number of cable and satellite distributors. Advertising revenue climbed 37 percent to $33.6 million.

Crown Media Holdings CEO David Evans told analysts during a conference call to discuss the results that the sale process announced in August is continuing and that its financial advisor, Citigroup, has “spoken with quite a number of organizations who have interest in the channel.”