Best known for producing its own original movies, the Hallmark Channel recently acquired the broadcast rights to some 80 films from News Corp.’s Twentieth Television division.

While financial details were not disclosed, industry insiders value the three-year deal at about $40 million.

Hallmark’s unprecedented outlay of cash for library titles is a break from the very nature of Hallmark’s core competency producing low-budget films that are custom crafted for family fare.

The move is being viewed by entertainment industry observers as a safe bet during uncertain economic times.

Studio City-based Hallmark Channel fills a niche, appealing to a core audience made up largely of women over 30. The movie library acquisition will likely save the company millions that would have gone toward film development, production and marketing. It also may help draw a younger audience with such time-tested family feel-good movies as “Edward Scissorhands,” “Doctor Dolittle” and “Big” expected to be the first out of the gate in the fall.

“This will help us expand our programming library, increase ratings and lower our (demographics),” said Michelle Vicary, senior vice president, acquisitions and scheduling at the Hallmark Channel.

Stubbed

Last week’s move by Ticketmaster Inc. to lay off about 300 employees will likely result in significant cutbacks at the company’s West Hollywood headquarters.

The $35 million cost-cutting plan also came as Ticketmaster announced it was merging with talent agency Front Line Management Group Inc. The $35 million merger will make the talent agency’s co-founder, Irving Azoff, the new chief executive at Ticketmaster.

Analysts believe that the merger positions Ticketmaster to better compete with concert promoter Live Nation Inc., which is increasingly signing comprehensive rights deals with artists and has plans to start its own ticketing operation in January.

As part of the deal, Ticketmaster will pay $123 million to Warner Music Group Corp. for its 30 percent stake in Front Line and exchange $35 million in restricted Ticketmaster preferred stock and other options for a portion of Azoff’s holdings in Front Line. Ticketmaster had already owned 46 percent of Front Line.

Current Ticketmaster chief executive, Sean Moriarty, will become president and chief operating officer of Ticketmaster reporting to Azoff.

Fed Folly?

Negotiators representing Hollywood’s major film studios accepted the intervention of a federal mediator late last week to help resolve the seemingly endless contract dispute with the Screen Actors Guild.

But many industry observers believe that it’s a sign of weakness on the part of SAG, underscoring the union’s lack of resolve to call for a strike vote months after the studios broke off negotiations on June 30.

The studios’ so-called final offer resembles terms approved by other Hollywood unions, such as the Directors’ Guild and the Writers Guild of America, which have been roundly considered to be weak.

The two sides remain at odds over how actors should be paid for content delivered over the Internet, having already given up the most profitable piece of the entertainment pie home video.

The studio chiefs have said that they have made as many compromises as they could in the midst of the global economic slowdown.

SAG representatives said that they would ask union members to authorize a strike if the mediation failed.

“We look forward to meeting with the federal mediator and the (studios’) committee as soon as possible,” said Doug Allen, SAG’s chief negotiator, in a statement.

Public Poker

Facing a dwindling audience willing to watch stoic poker professionals out bluff one another on television, Fox Sports Network and World Poker Tour have joined forces to launch ClubWPT.com, a new television series.

The new TV show will feature six amateur players from around the US and Canada competing each week for cash prizes.

Rather than playing in grueling multi-day tournaments against seasoned pros, these players are expected to “earn” their seat on the show by playing in online tournaments.

“Poker is the only sport that allows the everyday Joe to go up against the professionals,” said Steve Lipscomb, founder and chief executive of the Los Angeles poker promotions company.

Staff reporter Brett Sporich can be reached at [email protected] or at (323) 549-5225, ext. 226.