Parent company of Hallmark cable networks generates higher revenue and profit
05/02/2014 10:08 AM
05/02/2014 3:56 PM
Crown Media Holdings on Friday reported increases in its first-quarter revenue and profit, driven by higher advertising and subscriber revenue from its cable network programming.
The company, which is primarily controlled by Kansas City’s Hallmark Cards, operates the Hallmark Channel and the Hallmark Movie Channel.
For the three months that ended March 31, Crown Media generated revenue of $90.7 million, up 6 percent from the first quarter of 2013.
The company said advertising revenue climbed 6 percent and subscriber fee revenue increased 4 percent.
Crown Media, based in Studio City, California, earned $14.5 million in the quarter compared to $12 million in the first quarter last year.
The company also said it plans to revamp its Hallmark Movie Channel later this year with a new name, tagline and logo called Hallmark Movies & Mysteries. As part of the makeover, the channel will introduce several three-part, two-hour mystery movies.
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