Hallmark Entertainment and The Jim Henson Company have joined forces to take controlling shares of Odyssey Channel in the U.S. Founded in 1988 by the National Interfaith Cable Coalition, a consortium of Protestant, Jewish, Catholic, Pentecostal and Eastern Orthodox faith groups, the channel has a mandate to broadcast programming that empowers faith and promotes values. It currently reaches 30 million homes through cable and satellite across the U.S.
In the new deal, the companies have equal stakes to total a 45% share. NICC owns 22.5% and Liberty Media Corp., the programming arm of Tele-Communications, 32.5%.