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TheStreet Open House

Hallmark Acquires SpiritClips

KANSAS CITY, Mo., March 30, 2012 /PRNewswire/ -- Hallmark Cards, Inc., today announced the acquisition of SpiritClips, a broadband subscription-based online video service and film production company that offers heartwarming short films, family friendly movies and documentaries.

Based in Los Angeles, California, this small, start-up business was founded in 2007 by Rob Fried, an Academy-award winning producer and studio executive, whose many films include Rudy and Hoosiers. Fried will continue in his current capacity as SpiritClips CEO, and the firm will remain in California.

In making the announcement, Donald J. Hall, Jr., Hallmark president and CEO, noted that the acquisition offers Hallmark a new way to engage consumers in the digital world and a potential new channel of distribution for the brand. SpiritClips focuses on delivering powerful messages about character, hope and triumph of the human spirit, he said.

"It is a superb brand fit for Hallmark, with each story delivering compelling emotional content, positive family values and meaningful life lessons," he said. The site has featured content from Hallmark Hall of Fame to subscribers since 2010.

According to Fried, "It's a dream come true for SpiritClips to be part of the digital future of so esteemed an organization as Hallmark."

"We are gratified that Rob's vision has led to such a positive result," said Michael Jahrmarkt, managing member of Northlight Financial LLC, which provided initial financing for SpiritClips.

SpiritClips and Hallmark are both privately held and terms of the acquisition are not being released. For more information, go to www.SpiritClips.com.

About Hallmark

Hallmark makes the world a more caring place by helping people express what's in their hearts and connect in meaningful ways – a privilege few other companies in the world enjoy. Hallmark greeting cards and other products are found in 38,000 retail outlets in the United States, including the network of flagship Hallmark Gold Crown® stores. The brand also reaches people online at Hallmark.com and on television through Hallmark Hall of Fame original movies and cable's Hallmark Channels. Worldwide, Hallmark offers products in more than 30 languages available in 100 countries. This privately held company is based in Kansas City, Mo., and is led by the third generation of the founding Hall family. Visit http://corporate.hallmark.com for more details.

SOURCE Hallmark Cards, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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