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Crown Media Quarterly Ad Revenue Jumps 18 Percent

Double-digit advertising revenue contributed to Crown Media Holdings Inc. showing strong results in the second quarter, the company announced Monday. The Studio City owner of Hallmark Channel and Hallmark Movies & Mysteries reported net income of $20.1 million (6 cents a share) for the quarter ending June 30, compared with net income of $16 million (4 cents) in the same period a year earlier. Revenue increased 16 percent to $113 million. No analysts follow the company. Advertising revenue increased by 18 percent to $89.4 million compared to the $75.8 million in the second quarter of last year, due to higher ratings at both Hallmark channels. Crown Media Chief Executive Bill Abbott also credited original movies and series and the daily lifestyle talk show “Home & Family” for bringing in viewers. “Our ability to deliver quality, family entertainment continues to resonate with viewers, further positioning the company to realize our strategic goals through the remainder of the year,” Abbott said in a prepared statement. Shares closed up 13 cents, or 2.9 percent, to $4.60 on the Nasdaq.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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