Hallmark Tries New Crown Offer

February 2010
Multichannel News;2/15/2010, Vol. 31 Issue 7, p15
The article reports that Hallmark Cards has proposed a recapitalization of Crown Media Holdings Inc., which would give Hallmark 90 percent control of Crown's common stock. Reportedly, Hallmark is the largest debt and equity holder in Crown, the parent company of Hallmark Channel. Since, Crown is unable to pay back the 1.1 billion dollars debt to Hallmark latest by May 1, 2010, Hallmark proposes two loan tranches, one for 200 million dollars and another for 115 million dollars. INSET: 'RECAPPING' CROWN MEDIA.


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