In 2000, Odyssey's ownership group was re-organized into Crown Media Holdings, with Hallmark, Chase Equity Associates, Liberty Media, and the National Interfaith Cable Coalition transferring their shares in Odyssey to the company, and plans for an IPO. Hallmark received all of Crown Media's class B shares, which were worth ten votes each, thus giving it control of Crown Media.[18] After The Jim Henson Company was sold to German company EM.TV & Merchandising in February 2000, it withdrew from the Kermit Channel partnership with Crown Media, and sold its remaining stake in Odyssey the following month in exchange for 8% of Crown Media's stock.[18][19]
The company went public in May 2000, selling 10 million shares at $14 per share for about $140 million. Hallmark president and CEO Robert Halmi, Jr. became chairman of Crown Media, and David Evans became president and CEO of Crown Media Holdings. While its channels had 50 million subscribers at the IPO, the company had not turned a profit; Hallmark Entertainment Network lost $35.5 million in 1998 on revenue of $23.7 million, and in 1999 it lost $56.7 million on revenue of $31.9 million.[6] A digital media subsidiary, Crown Interactive, was established in 2001, which attempted to launch a video on-demand platform in Singapore.[6]
In April 2001, Crown Media purchased 700 titles from Hallmark Entertainment Distribution, a subsidiary of Hallmark Entertainment, for its cable channels and Crown Interactive. In payment for the titles, Crown Media took on $220 million in debt and granted over 30 million shares of stock to Hallmark Entertainment. Hallmark's stake in the company was then about 65% of the company's outstanding common stock and completed on October 1, 2001.[6] By late-July 2001, Hallmark acquired the remaining 8% minority stake in Crown Media including Odyssey Network from German company EM.TV & Merchandising and The Jim Henson Company giving Hallmark Entertainment full control of Odyssey Network with the former will license its series from their own library including Henson's library.[20] One month later and after reaching agreements to distribute a religious digital cable network, among other concessions, Odyssey was relaunched by Crown Media as the Hallmark Channel in August 2001, with plans for expansions to original programming.[21] At the end of her contract, Loesch stepped down as the president and CEO of Crown Media US in November 2001.[22]
In January 2004, the company established Hallmark Movie Channel as a sister outlet to Hallmark Channel.[23] The new channel was on track in 2005 to have 9 million subscribers by the end of 2006.[24] In March 2004, Hallmark Entertainment sold the Filmation library to Entertainment Rights for $20 million (£11 million).[25]
In 2005, Hallmark Entertainment put the Hallmark Channel up for sale, but withdrew it from the market after receiving insufficient offers. Losing $233 million in 2005, Hallmark got a tax-sharing agreement allowing Crown's losses to applied against Hallmark Card's gains. Crown Media had $750 million in loans from Hallmark Cards out of a total of $800 million total loans against $1 billion in equity. While minority investors, Liberty Media International Inc. and JPMorgan Chase, might have sold, company management move to clean up the balance sheet and acquire new programming.[24] Hallmark Channels in international markets were sold for about $242 million in 2005 to Sparrowhawk Media, a private equity group backed by Providence Equity Partners and 3i.[26] In December 2005, Crown Media sold off its production arm to an investor group led by RHI founder Robert Halmi Sr. and renamed back to RHI Entertainment. Crown moved to reduce staff by 20% to reduce $13–14 million or more from the balance sheet in 2006. In June 2006, David Evans resigned as CEO then joined RHI as head of global new-media operations and channel. Crown Media had a 3,000-hour library worth $375 million by mid-2006.[24] Crown Media then sold to RHI Enterprises, LLC its media library in November 2006.[27]
In October 2006, Henry Schleiff was hired as CEO from Court TV to prepare it for sale and deal with cable carriage deals expiring (as the channel was at the time in 70 million homes). He would receive a bonus if the channel was sold.[28] Schleiff left as CEO in May 2009. He was replaced by Bill Abbott, previous ad sales head. Crown Media had about $1.1 million in debt thus is attempting to increase revenue and expected to refinance its debt in 2010.[29] Schleiff left to attempt to help other small cable channel to become a major channel like he did with Court TV. He also increase the reach of Hallmark to 86 million homes at the time he left.[28]
Abbott moved most movies to Hallmark Movies while attempt to move to a lifestyle focus similar to such as Scripps Networks Interactive channels. After two content deals for the Hallmark Channel in March 2010, Crown Media and Martha Stewart Living Omnimedia were in discussion about launch a joint venture channel, Hallmark Home. The potential partners were considering bringing in a private equity partner and talk to distributors.[30] Crown Media had placed an animated series based on Hallmark's e-card characters Hoops and Yoyo into development in March 2010.[31] Classic Media took charged of worldwide distribution of the Hoops & Yoyo Ruin Christmas holiday special which is pick up by CBS for a November 2011 debut.[32]
In March 2011, Crown Media renamed its Hallmark Channels unit to Crown Media Networks.[33] Hallmark Movie Channel was re-branded as Hallmark Movies & Mysteries in 2014's fourth quarter.[34] Crown Media Holdings formed Crown Media Productions in March 2015 under programming executive vice president Michelle Vicary to fund six telefilms for 2015 and double that in 2016.[35] In February 2016, Crown Media had taken over ownership of Hallmark Hall of Fame division from Hallmark Cards placing under Crown Media Productions.[2]
On March 9, 2016, Hallmark Cards announced it was buying the remaining less than 10% of Crown Media Holdings traded publicly and taking the company private. Hallmark did so via Delaware's short form merger, which allows a parent company owning over 90% to bypass the subsidiary's board of directors and shareholders in approving the purchase/merger.[36] The privatization was completed later that year.
NBCUniversal agreed to purchased Sparrowhawk Media, international operator of Hallmark Channel, in August 2007.[26] With Hallmark trademark rights reverting in July 2011, Universal Networks International switched over the international Hallmark channels to either Diva Universal, 13th Street Universal, Studio Universal, Universal Channel, or shut them down.[37] In October 2017, Crown Media launched the new channel Hallmark Drama, and the new subscription streaming service Hallmark Movies Now. The company also indicated a publishing division was in the works.[38]
In October 2018, Crown Media announced an output deal with Canadian broadcaster Corus Entertainment for exclusive distribution rights to Hallmark Channel original productions, which would air on its domestic cable channel W Network.[39][40] The company also partnered with SiriusXM on the satellite radio channel "Hallmark Channel Radio" as a tie-in for that year's "Countdown to Christmas" lineup.[41]
On March 14, 2019, Crown Media announced that it was cutting ties with popular Hallmark Channel actress Lori Loughlin, following her arrest as part of a high-profile federal sting operation relating to college admissions irregularities.[42] In June 2020, after previous CEO Bill Abbott abruptly stepped down in January, Wonya Lucas was named Crown Media's new CEO.[43]
