Tech
Sky has put in a bid for the Hallmark Channel, according to Broadcast.
The channel's parent company, Crown Media, decided to put its international television assets up for sale earlier this year in order to concentrate on its business in the United States.
The decision to sell the international assets initially sparked significant attention, with media giants including Viacom and Time Warner reported as having been interested in various parts of the business. However, a bid from former Sky programming chief David Elstein for both the channel business and the programme library worth in the region of £170m is believed to be the favourite.
The UK version of the Hallmark Channel is viewed as a particularly lucrative target. It is believed to be close to the break-even point financially, and is the UK's fifth largest multichannel presence.
An announcement from Crown Media regarding the sale is expected in September.
The channel's parent company, Crown Media, decided to put its international television assets up for sale earlier this year in order to concentrate on its business in the United States.
The decision to sell the international assets initially sparked significant attention, with media giants including Viacom and Time Warner reported as having been interested in various parts of the business. However, a bid from former Sky programming chief David Elstein for both the channel business and the programme library worth in the region of £170m is believed to be the favourite.
The UK version of the Hallmark Channel is viewed as a particularly lucrative target. It is believed to be close to the break-even point financially, and is the UK's fifth largest multichannel presence.
An announcement from Crown Media regarding the sale is expected in September.
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