Hallmark-owned cable network posts higher profit

Crown Media Holdings Inc., the cable network largely owned by Kansas City-based Hallmark Cards, on Friday posted higher first-quarter profits, fueled by double-digit advertising revenue growth for the second consecutive quarter.

The company, based in Studio City, Calif., which operates the Hallmark Channel and Hallmark Movies & Mysteries, reported a profit of $18.5 million for the three months that ended March 31. That’s up from a profit of $12 million in the same period in 2014.

Total revenue climbed 11 percent to $100.5 million during the quarter. Advertising revenue increased 14 percent over the year-earlier period to $78.4 million. Subscriber fee revenue fell 1 percent to $20.9 million in the first quarter.

The Star

This story was originally published May 1, 2015 at 9:54 AM with the headline "Hallmark-owned cable network posts higher profit."