PRINT THIS PAGE Providence, 3i and David Elstein buy Crown Media's international business23/02/2005. Source: AltAssets. 
 US media specialist Providence Equity Partners, European group 3i and UK television executive David Elstein have teamed up to buy Crown Media's international business. Crown Media owns Hallmark Channel. The value of the transaction is $242m, subject to purchase price adjustments and working capital changes.
The investor group has acquired the international versions of the Hallmark Channel, distributed to 152 countries and approximately 60 million subscribers, the international rights to over 580 titles in the Crown Media library and a broadcast facility based in Denver, Colorado.
Providence Equity Partners specialises in equity investments in communications and media companies. 3i invests in a range of opportunities from start-ups to buy-outs and buy-ins across three continents through local investment teams in Europe, Asia Pacific and the USA.
David Elstein is the chairman of the British Screen Advisory Council, the Commercial Radio Companies Association, Really Useful Theatres Limited, Screen Digest Limited, Sports Network and Digital Classics.
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