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TheStreet Open House

Crown Media Holdings Announces Operating Results For Second Quarter Of 2012

Stocks in this article: CRWN

Crown Media Holdings, Inc. (NASDAQ:CRWN) today reported its operating results for the three and six months ended June 30, 2012.

Operating Highlights

  • Positive Financial Results. Adjusted EBITDA increased 40% to $35.0 million for the quarter ended June 30, 2012 compared to the same period last year due to a 14% increase in total revenues for the quarter.
  • Casting Development for Original Scripted Primetime Series. Internationally renowned actress, Andie MacDowell, has signed on to star as the lead in “Cedar Cove”, Crown Media Family Networks’ first original primetime scripted series, premiering in first quarter 2013 on Hallmark Channel.
  • New Daytime Programming Block Strengthens Advertising Sales. Hallmark Channel’s new daytime programming, anchored by the 2-hour, daily show, “Home and Family” delivered CPMs 80-100% above our off-network daytime fare. This original lifestyle series, and new show “Marie”, starring Marie Osmond, drew first-time advertisers such as KitchenAid, Electrolux, Visa, and General Motors.
  • Hosts Secured for Hallmark Channel Daytime Program, “Home & Family”. Emmy® Award-winning journalist and former “Entertainment Tonight” host, Mark Steines, along with Broadway star and television personality, Paige Davis, have been cast as the hosts for our new daytime lifestyle program, “Home & Family”.
  • Original Movie Successes for Hallmark Movie Channel. On Hallmark Movie Channel, two out of the three original movies premieres in 2nd quarter tied as the second highest-rated original movie premieres in the network’s history according to Nielsen.

“For second quarter, Crown Media continued to experience impressive revenue and earnings growth,” said Bill Abbott, President and CEO of Crown Media Family Networks. “During second quarter, the casting developments for Hallmark Channel were significant. In addition to signing Marie Osmond for our daily talk show, ‘Marie’, we signed Andie MacDowell as the lead in ‘Cedar Cove’, the channel’s first primetime scripted series and named Mark Steines and Paige Davis as co-hosts for the network’s new daytime lifestyle program, ‘Home & Family’. We are so proud to welcome this top-notch talent to Crown Media and ultimately to our viewers.”

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