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Saturday, Feb 4, 2023

Hallmark Channel Owner Narrows Net Loss

Crown Media Holdings Inc. narrowed its net loss for the second quarter when compared to a year ago. The Studio City-based owner of the Hallmark Channel and the Hallmark Movie Channel reported a net loss of $5.3 million or $0.05 per diluted share, on revenues of $68.2 million for the quarter ending June 30. For the same period a year ago, Crown had a net loss of $5.6 million, or $0.06 per diluted share, on revenues of this amount. $71.5 million For the six month period the company reported a net loss of $12.8 million, or $0.12 per diluted share, on revenues of $139 million. For the same period in 2008, the company had a net loss of $20.6 million, or $0.20 per diluted share, on revenues of $142 million. The cable channel premiered six original movies during the second quarter. The Hallmark Movie Channel ended the quarter with 18.6 million subscribers, nearly triple from a year ago. “The strength of our programming schedule emanates from original programming, which continues to resonate with our key demographic of adult women,” said Crown President and CEO Bill Abbott. Mark R. Madler

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