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Crown Media Reports Narrowed Q4 Loss

Mar 29, 2006  •  Post A Comment

Crown Media Holdings, Hallmark Channel’s parent company, said Wednesday that it posted a narrowed fourth-quarter loss, as stronger advertising and affiliate-fee revenue offset increases in programming and marketing expenses.

Crown said it posted a fourth-quarter loss of $59.8 million, compared with a year-earlier loss of nearly $129 million. Revenue advanced 39 percent to $60.5 million.

For the year, Crown reported a loss of $232.8 million, compared with red ink of $316.8 million a year ago. Revenue surged 43 percent to $197.4 million.

The company, which is looking for a buyer for Hallmark Channel, said the number of homes able to receive the channel swelled to 70.7 million in the quarter, from 64.6 million a year earlier. That led to a 28 percent increase in advertising revenue to $40.6 million and a 108 percent surge in subscriber-fee revenue to $5.4 million.