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Monday, Apr 22, 2024

Crown Narrows Net Loss

Crown Media Holdings narrowed its net loss for the second quarter when compared to a year ago. The Studio City-based owner of the Hallmark Channel reported a net loss of $6 million, or $0.06 per diluted share, on revenues of $71.5 million for the quarter ending June 30. The net loss for the same period in 2007 was $43.7 million, or $0.42 per diluted share, on revenues of $55.9 million. The company recently completed negotiations with advertisers for the upcoming broadcast season, receiving nearly $10 million in business from new clients, including Microsoft, IHOP, Nivea and Met Life.

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