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Archive for Saturday, December 10, 2005

Hallmark Cards sells television subsidiary

December 10, 2005

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Hallmark Cards Inc. said it is selling its television production company Hallmark Entertainment LLC to the subsidiary's president, Robert Halmi Jr., and a private investment firm.

Hallmark didn't disclose the price of the sale, expected to close in about two months.

Hallmark Entertainment makes movies and miniseries for more than a dozen cable channels and all four major networks, racking up $344 million in revenue in 2003, the latest year for which figures are available.

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