Net Loss Widens for Crown Media

Decreased ratings contributed to a widening of the net loss in the second quarter for Crown Media Holdings when compared to a year ago. The Studio City-based owner and operator of the Hallmark Channel reported a net loss of $9 million, or $0.08 per share, on revenues of $65.7 million for the quarter ending June 30. For the same period in 2009, the company had a net loss of $5.3 million, or $0.05 per diluted share, on revenues of $68.2 million. Revenues from subscriber fees remained constant in the second quarter, while advertising revenues declined by 4 percent to $49.8 million from the $51.9 million from the same period a year ago. The company attributed the decline in advertising dollars to decreases ratings. In the upcoming quarter, the Hallmark Channel will introduce original lifestyle programming centered around season six of “The Martha Stewart Show.” Mark R. Madler