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                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                  SCHEDULE 13D
                                 (Rule 13d-101)

             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
            TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
                                  RULE 13d-2(a)
                              (Amendment No. 1)(1)

                           Crown Media Holdings, Inc.
                                (Name of Issuer)

                 Class A Common Stock, Par Value $0.01 Per Share
                         (Title of Class of Securities)

                                   228411 10 4
                                 (CUSIP Number)

                                  Peter Schube
                  Executive Vice President and General Counsel
                          The Jim Henson Company, Inc.
                            1416 North La Brea Avenue
                               Hollywood, CA 90028
                                 (323) 802-1570
                  (Name, Address and Telephone Number of Person
                Authorized to Receive Notices and Communications)

                                  July 27, 2001
             (Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box: |_|.

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(1) The  remainder  of this  cover  page  shall be  filled  out for a  reporting
person's  initial  filing on this  form with  respect  to the  subject  class of
securities,  and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 or  otherwise  subject to the  liabilities  of that  section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).





CUSIP No. 228411 10 4

________________________________________________________________________________
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON

     EM.TV & Merchandising AG (No. I.R.S. Identification No. - non-U.S. entity)

________________________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                 (a)  [_]
                                                                 (b)  [X]

________________________________________________________________________________
3.   SEC USE ONLY



________________________________________________________________________________
4.   SOURCE OF FUNDS

     OO

________________________________________________________________________________
5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
     PURSUANT TO ITEMS 2(d) OR 2(e)                                   [_]


________________________________________________________________________________
6.   CITIZENSHIP OR PLACE OF ORGANIZATION

     Germany

________________________________________________________________________________
               7.   SOLE VOTING POWER

  NUMBER OF         0 Shares of Class A Common Stock

   SHARES      _________________________________________________________________
               8.   SHARED VOTING POWER
BENEFICIALLY
                    0 Shares of Class A Common Stock
  OWNED BY
               _________________________________________________________________
    EACH       9.   SOLE DISPOSITIVE POWER

  REPORTING         0 Shares of Class A Common Stock

   PERSON      _________________________________________________________________
               10.  SHARED DISPOSITIVE POWER
    WITH
                    0 Shares of Class A Common Stock

________________________________________________________________________________
11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     0 Shares of Class A Common Stock

________________________________________________________________________________
12.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

                                                                      [_]

________________________________________________________________________________
13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     0% Shares of Class A Common Stock

________________________________________________________________________________
14.  TYPE OF REPORTING PERSON

     CO

________________________________________________________________________________

                                       2



CUSIP No. 228411 10 4

________________________________________________________________________________
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON

     The Jim Henson Company, Inc. (13-2571101)

________________________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                 (a)  [_]
                                                                 (b)  [X]

________________________________________________________________________________
3.   SEC USE ONLY



________________________________________________________________________________
4.   SOURCE OF FUNDS

     OO

________________________________________________________________________________
5.   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
     PURSUANT TO ITEMS 2(d) OR 2(e)                                   [_]


________________________________________________________________________________
6.   CITIZENSHIP OR PLACE OF ORGANIZATION

     New York

________________________________________________________________________________
               7.   SOLE VOTING POWER

  NUMBER OF         0 Shares of Class A Common Stock

   SHARES      _________________________________________________________________
               8.   SHARED VOTING POWER
BENEFICIALLY
                    0 Shares of Class A Common Stock
  OWNED BY
               _________________________________________________________________
    EACH       9.   SOLE DISPOSITIVE POWER

  REPORTING         0 Shares of Class A Common Stock

   PERSON      _________________________________________________________________
               10.  SHARED DISPOSITIVE POWER
    WITH
                    0 Shares of Class A Common Stock

________________________________________________________________________________
11.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     0 Shares of Class A Common Stock

________________________________________________________________________________
12.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

                                                                      [_]

________________________________________________________________________________
13.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

     0% Shares of Class A Common Stock

________________________________________________________________________________
14.  TYPE OF REPORTING PERSON

     CO

________________________________________________________________________________

                                       3




     The Jim  Henson  Company,  Inc.  ("Henson")  and EM.TV &  Merchandising  AG
("EMTV")  hereby amend and supplement  their report on Schedule 13D,  originally
filed on March 26, 2001 (the  "Schedule  13D") with  respect to the  purchase of
shares of Class A common  stock,  par value $0.01 per share (the "Class A Common
Stock"), of Crown Media Holdings, Inc. (the "Issuer).

ITEM 2. IDENTITY AND BACKGROUND.

     Schedule  1 to the  Schedule  13D is hereby  deleted  in its  entirety  and
replaced with the Schedule 1 attached to this  Amendment  No. 1. All  statements
made in the Schedule 13D regarding  the persons  listed on Schedule 1 are hereby
incorporated  by  reference  and made  with  respect  to the  persons  listed on
Schedule 1 attached to this Amendment No. 1.

ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.

     The response set forth in Item 5 of the Schedule 13D is hereby  amended and
restated in its entirety as follows:

     (a)-(b):  As of the date of this  Amendment  No.  1, no  shares  of Class A
Common  Stock are owned by Henson or EMTV.  To the  knowledge  of the  Reporting
Persons,  no shares of Class A Common Stock of the Issuer are beneficially owned
by any executive officer or director of Henson or EMTV.

     (c): Henson acquired  5,377,721 shares of Class A Common Stock on March 15,
2001 as disclosed  pursuant to Item 3 above.  On July 27, 2001,  Henson sold all
5,377,721  shares of  Common  Stock for $90  million  (a price of  approximately
$16.74 per  share).  The shares were sold in private  transaction  pursuant to a
Stock Purchase  Agreement dated July 24, 2001 by and between Henson and Hallmark
Entertainment,  Inc., an affiliate of the Issuer, a copy of which is filed as an
Exhibit hereto and incorporated by references.  Except for such sale, neither of
the Reporting Persons,  nor, to the best knowledge of the Reporting Persons, any
of  their  respective   directors  or  executive  officers,   has  effected  any
transactions in shares of Class A Common Stock during the past 60 days.

     (d): No longer applicable.

     (e):  Henson  and EMTV,  through  its  ownership  of  Henson,  ceased to be
beneficial  owners of more than 5% of the  outstanding  shares of Class A Common
Stock on July 27, 2001.

ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
        SECURITIES OF THE ISSUER.

     The response set forth in Item 6 of the Schedule 13D is hereby  amended and
restated in its entirety as follows:

     Henson  is a party to the Stock  Purchase  Agreement  referenced  in Item 5
above,  pursuant  to  which it sold all its  shares  of Class A Common  Stock to
Hallmark Entertainment, Inc. on July 27, 2001.

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS

     The Exhibit Index to the Schedule 13D is hereby deleted in its entirety and
replaced with the Exhibit Index attached to this Amendment No. 1.

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                                   SIGNATURES


     After  reasonable  inquiry and to the best of our respective  knowledge and
belief, the undersigned certify that the information set forth in this statement
is true, complete and correct.



Dated: August 6, 2001                THE JIM HENSON COMPANY, INC.


                                     By: /s/ Peter Schube
                                         ---------------------------------------
                                         Name: Peter Schube
                                         Title: Executive Vice President


                                     EM.TV & MERCHANDISING AG


                                     By: /s/ Rolf Rickmeyer
                                         ---------------------------------------
                                         Name: Rolf Rickmeyer
                                         Title: Member of the Managing Board


                                     By: /s/ Manfred Hohn
                                         ---------------------------------------
                                         Name: Manfred Hohn
                                         Title: Executive Vice President

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                                   SCHEDULE 1


     The name and present  principal  occupation  of each director and executive
officer of each of The Jim Henson Company, Inc. and EM.TV & Merchandising AG are
set forth below. The business  address for the directors and executive  officers
of The Jim Henson  Company,  Inc. is 1416 North La Brea  Avenue,  Hollywood,  CA
90028. The business address for the directors and executive  officers of EM.TV &
Merchandising AG is Betastrasse 11, 85774 Unterfohring, Germany.

                          THE JIM HENSON COMPANY, INC.

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Brian Henson           Director/Chairman             United States citizen
--------------------------------------------------------------------------------
Lisa Henson            Director/Vice Chairman        United States citizen
--------------------------------------------------------------------------------
Charles Rivkin         Director/President and        United States citizen
                       Chief Executive Officer
--------------------------------------------------------------------------------
Rolf Rickmeyer         Director                      German citizen
--------------------------------------------------------------------------------
Rainer Huether         Director                      German citizen
--------------------------------------------------------------------------------
Patrick Elmendorff     Director                      Canadian citizen
--------------------------------------------------------------------------------
Peter Schube           Exec. Vice President          United States citizen
                       & Secretary
--------------------------------------------------------------------------------
Isabel Miller          Exec. Vice President          United States citizen
--------------------------------------------------------------------------------
Nancy Schultz          Chief Financial Officer       United States citizen
--------------------------------------------------------------------------------


                            EM.TV. & MERCHANDISING AG

--------------------------------------------------------------------------------
Rainer Huether            Member of the Managing Board          German citizen
--------------------------------------------------------------------------------
Rolf Rickmeyer            Member of the Managing Board          German citizen
--------------------------------------------------------------------------------
Dr. Bernd Thiemann        Chairman of the Supervisory Board     German citizen
--------------------------------------------------------------------------------
Prof. Roland Berger       Member of the Supervisory Board       German citizen
--------------------------------------------------------------------------------
Dr. Ralph Wollburg        Member of the Supervisory Board       German citizen
--------------------------------------------------------------------------------
Dr. Volker Schott         Executive Vice President              German citizen
--------------------------------------------------------------------------------
Manfred Hohn              Executive Vice President              German citizen
--------------------------------------------------------------------------------
Dietmer Vogler            Executive Vice President              German citizen
--------------------------------------------------------------------------------
Jens Stahmann             Executive Vice President              German citizen
--------------------------------------------------------------------------------


                                       6




                                  EXHIBIT INDEX

Exhibit        Description
-------        -----------
7.1            Contribution Agreement,  dated as of March 15, 2001, by and among
               The Jim Henson Company, Inc., Crown Media International, Inc. and
               Crown Media Holdings, Inc.

7.2            Amended and Restated  Stockholders  Agreement,  dated as of March
               15,  2001,  by and among Crown  Media  Holdings,  Inc.,  Hallmark
               Entertainment,  Inc., Liberty Media Corporation,  VISN Management
               Corp.,  JP  Morgan  Partners  (BHCA),  L.P.  and The  Jim  Henson
               Company, Inc.

7.3            Stock  Purchase  Agreement,  dated  as of July 24,  2001,  by and
               between The Jim Henson Company, Inc. and Hallmark  Entertainment,
               Inc.


                                       7