Crown Media settles Interfaith court case
EmptyCrown Media Holdings, owner and operator of Hallmark Channel, said Thursday that it has reached an agreement with the National Interfaith Cable Coalition to settle outstanding claims relating to NICC's equity interest in Crown Media and a now-expired program production and broadcast deal.
Under the settlement, Hallmark Channel will continue to broadcast a Sunday morning block of Faith & Values programming and NICC will relinquish its right to compel Crown Media to purchase more than 4 million shares of the company's common stock which NICC currently holds.
As a result, Hallmark Channel will regain control of five hours of daily programming each week formerly occupied by the Faith & Values program "New Morning" (7-8 a.m. weekdays). In addition, the Sunday morning block of Faith & Values programming, which will be provided by NICC, has been reduced from six to two hours.
NICC also has agreed to relinquish its seat on the Crown Media board of directors.