Hallmark Cards sells television subsidiary
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.