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Crown Media Holdings Announces Renewal of Distribution Agreement with DIRECTV
Crown Media Holdings Announces Renewal of Distribution Agreement with DIRECTV
|By Business Wire
|March 5, 2008 01:45 PM EST
Crown Media Holdings, Inc. (NASDAQ: CRWN), owner and operator of
Hallmark Channel and Hallmark Movie Channel, today announced it has
renewed its distribution agreement for Hallmark Channel with DIRECTV,
Inc., for a multi-year term. DIRECTV currently distributes Hallmark
Channel to nearly 15 million homes.
Additionally, DIRECTV will have the right to distribute the Standard
Definition and High Definition versions of Hallmark Movie Channel.
“We are very happy to announce this renewal of
our affiliation agreement with DIRECTV, the second-largest distributor
of our programming and one of Crown Media’s
most important partners in contributing to our ability to provide
quality family friendly programming,” said
Henry Schleiff, President and CEO, Crown Media Holdings, Inc. “Clearly,
this agreement reflects both DIRECTV’s and
Crown Media’s emphasis on quality, fair price
and service to our respective subscribers and viewers. On a personal
note, I would like to add that we particularly appreciated not only
DIRECTV’s fair treatment of Hallmark Channel
but also, frankly, their willingness to go the extra mile in closing
this agreement in such a timely manner."
“Hallmark Channel continues to be an important
programming staple for DIRECTV families and we’re
pleased to extend our relationship,” said
Derek Chang, executive vice president, Content Strategy and Development,
DIRECTV, Inc. “Crown Media has set a high
standard for quality, family-oriented programming and that is reflected
in the channel’s consistently high viewership.”
DIRECTV, Inc., (NASDAQ: DTV) the nation's leading satellite television
service provider, presents the finest television experience available to
16.8 million customers in the United States and is leading the HD
revolution with 92 national HD channels - more quality HD channels than
any other television provider. Each day, DIRECTV subscribers enjoy
access to over 265 channels of 100% digital picture and sound, exclusive
programming, industry-leading customer satisfaction (which has surpassed
cable for seven years running) and superior technologies that include
advanced DVR and HD-DVR services and the most state-of-the-art
interactive sports packages available anywhere.
About Crown Media Holdings
Crown Media Holdings, Inc. (NASDAQ: CRWN) owns and operates cable
television channels dedicated to high quality, broad appeal,
entertainment programming. The Company currently operates and
distributes Hallmark Channel in the U.S. to 84 million subscribers. The
program service is distributed through 5,450 cable systems and
communities as well as direct-to-home satellite services across the
country. Hallmark Channel consistently ranks among the top ten
ad-supported cable networks in Prime Time and Total Day household
ratings and is the nation’s leading network
in providing quality family programming. Crown Media also operates a
second 24-hour linear channel, Hallmark Movie Channel and will launch
Hallmark Movie Channel HD in April 2008. Significant investors in Crown
Media Holdings include: Hallmark Entertainment Holdings, Inc., a
subsidiary of Hallmark Cards, Incorporated, Liberty Media Corp., and
J.P. Morgan Partners (BHCA), LP, each through their investments in
Hallmark Entertainment Investments Co.; VISN Management Corp., a
for-profit subsidiary of the National Interfaith Cable Coalition; and
The DIRECTV Group, Inc.
For more information, please visit www.hallmarkchannelpress.com.
Statements contained in this press release may contain
forward-looking statements as contemplated by the 1995 Private
Securities Litigation Reform Act that are based on management’s
current expectations, estimates and projections.Words such as “expects,”“anticipates,”“intends,”“plans,”“believes,”“estimates,”
variations of such words and similar expressions are intended to
identify such forward-looking statements.Forward-looking
statements are subject to risks and uncertainties, which could cause
actual results to differ materially from those projected or implied in
the forward-looking statements.Such risks and uncertainties
include: competition for distribution of channels, viewers, advertisers,
and the acquisition of programming; fluctuations in the availability of
programming; fluctuations in demand for the programming Crown Media airs
on its channels; and other risks detailed in the Company’s
filings with the Securities and Exchange Commission, including the Risk
Factors stated in the Company’s most recent
10-K and 10-Q Reports.Crown Media Holdings is not undertaking
any obligation to release publicly any updates to any forward looking
statements to reflect events or circumstances after the date of this
release or to reflect the occurrence of unanticipated events.
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