Crown Media Posts Wider Q4 Loss

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Crown Media Holdings Inc. reported a wider fourth-quarter loss Wednesday as expenses rose and the company settled a dispute with a programmer.


Crown Media reported a loss of $37.3 million (-37 cents per share), compared to a loss of $30 million (-29 cents) in the same period a year earlier.


Sales for the Studio City-based operator of the Hallmark Channel rose 19 percent to $69.6 million.


The company said that the latest quarterly results were dogged by a 92 percent hike in expenses to $21.6 million. That resulted largely from a $7.4 million jump in legal costs because of a dispute with the National Interfaith Cable Coalition over an expired production and broadcast agreement, which was settled in January. There was also a $3.9 million increase in bonus expenses, the company said.


Shares in Crown Media dipped 3 percent but quickly rebounded and gained 3 cents to $5.05 in early trading Wednesday.

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