Top Story


Home >> Media - TV >> Article

Crown Media, owner of Hallmark Channel, sells international business

Font Size   16
Crown Media, owner of Hallmark Channel, sells international business

Crown Media Holdings, Inc., owner and operator of Hallmark Channel, has entered into an agreement for the sale of its international business to a group of investors comprising Providence Equity Partners, a private investment firm, 3i, specialising in private equity and venture capital, and UK-based television executive David Elstein.

The sale includes the international versions of the Hallmark Channel distributed outside the United States to 152 countries and approximately 60 million subscribers, international rights to over 580 titles in the Crown Media library and the broadcast facility based in Denver, Colorado, which will continue to distribute the channels throughout the world. The investor group will employ workers of the international business as well as the broadcast facility.

Proceeds from the transaction will be used by Crown Media to reduce outstanding indebtedness under its bank credit facility, for the repayment of certain inter-company receivables and the payment of other liabilities. The purchase price for the transaction is $242 million, subject to purchase price adjustments relating to receivables acquired and working capital changes. The investor group has delivered equity and debt financing commitments for the transaction, which are subject to customary conditions. The company expects to obtain approval and complete the transaction within six to eight weeks.

David Evans, President and CEO, Crown Media, said, "We are confident that the investor group will capitalise on its global media expertise to continue to expand this international business, while we focus our efforts on maintaining the tremendous growth in ratings and distribution we have been able to generate in our domestic business. From a financial perspective, this is an excellent opportunity for our company to reduce, leverage and improve our overall capital structure."


Baba Ramdev brought his sharp wits for an interview with e4m where he promised to disrupt more markets and spoke about he the way he created a brand through consistent and selfless work

GroupM is in talks with several digital clients currently with its other agencies to shift them to Essence, which is looking at a major expansion plan in 2018

Thomas, Chief Marketing Officer, Diageo India, gives us a peek into the marketing strategy for McDowell’s No 1 Soda, its creation of ‘No 1 Yaari Jam,’ their own set of 4Ps and importance of content

NewsCode, a hyper local online news platform was launched last night with a network of over 350 local reporters in Karnataka and Jharkhand. Apurv Swarup, the co-founder talked to Exchange4Media about his vision

Voot, which is producing almost 4X content on an overall basis on the reality drama, is gunning for big numbers both on viewership and advertising revenue

YouTube today released its annual year-end edition of the YouTube Ads Leaderboard 2017 capturing the most celebrated ads that received maximum views, shares, and love from audiences across India

Real world study of Appier's network shows significant benefits of AI over traditional rule-based systems