Revenues Up, Loss Narrowed at RHI

NEW YORK, August 8: RHI
Entertainment, which recently completed its IPO, has reported second quarter
revenues of $53.4 million, reflecting a 130-percent gain, and a smaller net
loss of $5.8 million, as compared with $33 million in the comparable period
last year.

“This was a solid quarter
and first half of the year for RHI Entertainment, highlighted by significant
growth in library revenues, impressive improvement in adjusted EBITDA and the
continued strength of our unique production model,” said Robert Halmi, Jr., the
president, CEO and chairman of the board of RHI Entertainment. “With our
diverse slate of films, a robust library offering and the completion of our
public offering, we are well situated to access new and exciting distribution
partners, and to capitalize on the strong demand we are seeing for our content
from both domestic and international distributors.”

A key revenue driver was
the company’s library, which generated $50.9 million, a 250-percent gain. The
company also reported $4.2 million in revenue related to the distribution of
programming on ION. Production revenue was $2.6 million, compared to $8.7
million during the second quarter of 2007. The decrease is primarily
attributable to the timing of film deliveries, specifically related to the
company’s shift in strategy to premiere a variety of its films on video on
demand.

—By Mansha Daswani