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Hallmark 3Q for Crown

11/15/2004 5:30 AM Eastern

Growth in subscribers and advertising revenue at Hallmark Channel helped to boost parent Crown Media Holdings Inc.’s third-quarter results.

Worldwide Hallmark Channel subscribers rose 12% to 124.1 million as of Sept. 30, versus 111.2 million subscribers as of Sept. 30, 2003.

Hallmark ended the quarter with 63.4 million subscribers in the United States and 60.7 million international subscribers across 122 countries, Crown said.

And advertising revenues for the quarter were $30 million, up 44% from the third-quarter-2003 figure.

Crown reported overall revenue of $55.8 million, a 9% climb from $51 million in the year-ago period. Subscriber-fee revenue rose 14% to $20 million from $17.5 million in the previous-year period as a result of the termination of free-carriage periods for certain domestic distributors, Crown said.

The company’s adjusted earnings before interest, taxes, debt and amortization loss was $65.9 million compared with an adjusted EBITDA loss of $33.2 million for the same period last year.

September