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Crown Media goes private

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Crown Media goes private

Crown MediaHoldings Inc. is no longer a public company after completing ashort-form merger with HallmarkCards Inc.

Under the terms of the deal, announced in March, Hallmark Cards paid $175.7million in cash and assumed 9.7% of the pro rata debt of the company to acquirea 10% stake that it did not already own in Crown Media, the owner of theHallmark Channel and Hallmark Movies & Mysteries.

Hallmark Cards CEO Donald Hall Jr. announced the completionof short-form merger on May 2. A May 3 conference call that had been scheduledto discuss Crown Media's financial results was canceled.