GECs
Crown Media completes $265 million private placement, secures additional financing
Crown Media Holdings, Inc. has announced the issuance of $265 million of 6.75 per cent subsidiary trust preferred securities and contingent appreciation certificates in a private placement with institutional investors.
The certificates entitle the holder to receive cash or, at the holder’s option, to purchase shares of Crown Media’s Class A common stock at $13.07 per share. The certificates, if converted, would represent approximately 10.1 million shares of Class A common stock.
Crown Media will use a portion of the proceeds to reduce the amount outstanding under its bank credit facility and for working capital. The company will also repay certain debt outstanding under lines of credit provided by a subsidiary of Hallmark Cards and amounts payable to Hallmark Entertainment Distribution pursuant to certain programme license agreements, a company release says. In a related development, Crown Media has increased the size of its bank credit facility by $35 million to a total of $320 million.
In connection with the private placement, Crown Media is filing a Current Report on Form 8-K with the Securities and Exchange Commission.
GECs
Samsung TV Plus launches Kings of Comedy channel
New free FAST channel brings iconic Hindi comedy shows to millions of Samsung Smart TV owners.
MUMBAI: Samsung TV Plus has just turned up the laughter volume and it’s completely free. The leading free ad-supported streaming television (FAST) service in India has launched Kings of Comedy, a premium comedy channel featuring some of the country’s most beloved primetime shows. Available exclusively on Samsung TV Plus, the channel delivers back-to-back hits including Comedy Nights with Kapil, Khatra Khatra Khatra, and Comedy Nights Bachao, with no login or subscription required.
The launch marks a milestone for free streaming in India, offering audiences a dedicated comedy destination directly from their Samsung TV home screen. It arrives as Samsung TV Plus India celebrates its 5th anniversary, during which the service has grown its monthly active users by 42 per cent and more than doubled its total viewing hours. The platform now offers over 180 free channels across 14 languages.
Samsung TV Plus India general manager and head of business development Kunal Mehta said, “Comedy is the heartbeat of Hindi entertainment, and Kings of Comedy brings together the shows Indians already love, completely free on their Samsung TV. Our focus remains the same take the content people know and make it effortless to access.”
Globally, Samsung TV Plus has surpassed 100 million monthly active users across more than 4,500 channels, solidifying its position as one of the world’s leading free streaming services.
Kings of Comedy is now available on all compatible Samsung Smart TVs. For viewers seeking non-stop laughter without any cost, this new channel delivers a royal treat proving that sometimes the best entertainment really does come with no strings (or subscriptions) attached.
