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Thursday, Jun 1, 2023

Crown Media Library Sale Finalized

Crown Media Holdings Inc. has completed the sale of its film library to RHI Entertainment, Inc., the company announced Monday. Crown, owner and operator of Studio City-based Hallmark Channel, has the right to continue to broadcast selected titles from the library on the Hallmark Movie Channel for up to two years. The library includes 600 television movies, mini-series and series. Proceeds from the approximately $160 million transaction will be used by the company to reduce outstanding debt under its bank credit facility and for operating purposes. RHI Entertainment is a privately held production and distribution company with offices in four cities, including Los Angeles.

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