Crown Media Sells Library Rights

Crown Media Holdings Inc. has agreed to sell the domestic rights to its film library for an expected $160 million. Studio City-based Crown Media, which owns and operates the Hallmark Channel, said it has entered into a definitive agreement with RHI Enterprises LLC in order to reduce debt and for operating purposes. The library consists of over 600 television movies, miniseries and series. Crown Media sold the international rights in 2005 to a group of investors. The company retains the right to continue to broadcast selected titles on the Hallmark Movie Channel for up to two years. RHI is a producer and distributor of content for television.