Article: Crown: Off the Block and the M&A Hook?(Crown Media Holdings Inc.)

Crown Media Holdings Inc. may have taken itself off the block, but it still officially retains the financial advisor that assisted on its strategic review. Nevertheless, few believe buyers will bite at the $515 million market cap company.

Studio City, Calif.-based Crown operates two pay cable TV networks-the Hallmark Channel and Hallmark Movie Channel-and owns a feature film, TV movie and miniseries library. Privately held Hallmark Cards Inc. spun off Crown in 2000 and controls 67%. Crown's other significant investors include JPMorgan, Liberty Media Corp. and New York-based Faith & Values Media (FVM), also known as the National Interfaith Cable Coalition.

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