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Crown Media Reports Big Jump in Earnings

Crown Media Holdings, which runs the Hallmark channels, reported higher fourth quarter earnings as advertising revenue jumped for its holiday programming.

Net income rose 33% to $51.6 million, or 14 cents a share, from $38.9 million, or 11 cents a share, a year ago.

Revenue rose 18% to $158 million.

Advertising revenue increased 21% to $134 million.

Subscriber fee revenue rose 8% to $22 million.

“2015 marked another year of significant achievements with the expansion of our subscriber base, strong growth in audience for both channels and double-digit quarterly advertising sales increases” said Bill Abbott, president and CEO of Crown Media Family Networks. “Forging ahead in 2016, we will continue to focus on being the celebration destination for viewers with events such as Winterfest, Countdown to Valentine’s Day, June Weddings, Fall Harvest, and Thanksgiving Weekend Event.”