Crown Media Holdings is focused on developing Hallmark Channel and Hallmark Movie Channel into two distinct and viable networks, president and CEO Bill Abbott said Wednesday.

Hallmark, which is the largest manufacturer of greeting cards in the U.S., said it will pay $5.05 a share for the shares of Crown Media that it does not already own, representing a premium of 2.4% ...

Hallmark Cards said it will take subsidiary Crown Media, which it already owns nearly all of, private for about $175 million. Hallmark holds a 90.3% stake in Crown; to buy remaining shares for ...