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.

Channel [V]?s getting serious about increasing its value within the Star bouquet with a clutch of new shows.
After the AIDS concert on 1 December and the launch of its reality show Popstars, [V] is now planning to digress from its usual pop-n-roll content and get down to some serious talk. Its target this time is the modern Indian woman. A new half hour show What Women Want, to be aired from Christmas, will invite female celebrity talents to speak their minds and teach men a thing or two about women.

[V] is plugging the show as an exclusive platform for the ladies to lead and show the world why its no longer just a ?man?s world?. The channel claims What Women Want is the only one of its kind that celebrates the modern independent Indian woman and provides inspiration to young girls to draw on the strengths of these ?women of substance?. The first celebrity to appear on the show is actor Raveena Tandon along with new VJ Puja, who will also attempt to fathom the modern Indian woman?s tastes in music.

Raveena and those of her ilk who follow her, will have a chance to spread the mantra of their confidence and successes with respect to their careers, styles and relationships. The programme will be aired on Tuesdays at 8 PM, with repeat telecasts on Fridays at 2 PM, Sundays at 12:30 PM and again at 8 PM

And if What Women Want is a tad heavy for the [V] viewer, the channel has another show up its sleeve. Beginning 24 December, four times a day, [V] will take viewers on a trip in which featured guests will catch up with their first infatuations. [V] Crush will use email, letters, couriers, photographs on a search for the first crush. Orchestrated by VJ?S Purab & Kim, the countdown culminates in a meeting between the two involved. The show will use love songs as an integral part of the show.