Consistent with my low price anomaly strategy (one among several, admittedly), I've been taking a look at Crown Media Holdings (CRWN), which operates the Hallmark Channel. It's trading around $1.70/share, has a well-known trademark (courtesy of Hallmark itself), and has recently secured the services of a well-known celebrity in Martha Stewart. These are assets I can understand at a price I like. Thinking about Crown a lot led to a sudden curiosity: has the elevated unemployment rate of recent years led to an increase in television watching? Apparently, there is some evidence for this:
http://moneyland.time.com/2011/06/23/americans-spend-more-time-sleeping-watching-tv-brewing-beer-is-unemployment-the-reason/
There is another thing I find appealing about the Hallmark Channel -- the generally innocent level of its programming. I've been feeling recently that parents may soon start rebeling about the general slumming down of TV programming (and perhaps American life in general which takes some cues from TV). See Miley Cyrus' tattoos or virtually any show on ABC Family for an example of what I'm talking about. The Hallmark Channel has wholesome programming and a wholesome image. Won't American families ultimately want more of this?
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