Studio City-based Crown Media Holdings, Inc. has announced that its board of directors has authorized the company to explore strategic alternatives for the company, including a potential sale of the Company to a third party. In support of this initiative, a special committee of independent directors of the board of directors has been formed to oversee the process. Hallmark Card Inc., has advised the company’s board of directors that it fully supports the board’s determination. Hallmark also advised the board that it would consider entering into a license agreement with respect to the Hallmark Channel name in connection with a sale of the Company if requested by a potential acquirer.