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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                                 (RULE 13D-102)

                 INFORMATION TO BE INCLUDED IN STATEMENTS FILED
          PURSUANT TO RULE 13D-1(B)(C), AND (D) AND AMENDMENTS THERETO
                         FILED PURSUANT TO RULE 13D-2(B)

                               (AMENDMENT NO. 2)*



                           Crown Media Holdings, Inc.
-------------------------------------------------------------------------------
                                (Name of Issuer)



                                  Common Stock
-------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                    228411104
--------------------------------------------------------------------------------
                                 (CUSIP Number)

                                 January 1, 2002
-------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:


     [ ]  Rule 13d-1(b)

     [ ]  Rule 13d-1(c)

     [X]  Rule 13d-1(d)

          * 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 ("Act") 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).

POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION  CONTAINED
IN THIS FORM ARE NOT  REQUIRED TO RESPOND  UNLESS THE FORM  DISPLAYS A CURRENTLY
VALID OMB CONTROL NUMBER.

                               Page 1 of 10 Pages





                                  SCHEDULE 13G

ISSUER: Crown Media Holdings, Inc.                         CUSIP NO.: 228411104
------                                                     ---------
-------------------------------------------------------------------------------

1.   Names of Reporting Persons.
     I.R.S. Identification Nos. of above persons (entities only).

     J.P. Morgan Partners (BHCA), L.P. (formerly known as Chase Equity
     Associates, L.L.C.)

     13-337-1826
     ...........................................................................
--------------------------------------------------------------------------------

2.   Check the Appropriate Box if a Member of a Group (See Instructions)

     (a) .......................................................................

     (b) .......................................................................
--------------------------------------------------------------------------------
3.   SEC Use Only...............................................................
--------------------------------------------------------------------------------
4.   Citizenship or Place of Organization    Delaware
                                             ...................................
--------------------------------------------------------------------------------

Number of Shares    5.   Sole Voting Power   3,844,420 (includes Options for
Beneficially                                 7,800 shares)
Owned by Each                                ...................................
Reporting Person    ------------------------------------------------------------
With:               6.   Shared Voting Power ...................................
                    ------------------------------------------------------------
                    7.   Sole Dispositive    3,884,420 (includes Options for
                         Power               7,800 shares)
                                             ...................................
                    ------------------------------------------------------------
                    8.   Shared Dispostive
                         Power               ...................................
--------------------------------------------------------------------------------
9.   Aggregate Amount Beneficially Owned
     by Each Reporting Person                3,844,420 (includes Options for
                                             7,800 shares)
                                             ...................................

10.  Check if the Aggregate Amount in Row (9)
     Excludes Certain Shares (See Instructions).................................

11.  Percent of Class Represented by
     Amount in Row (9)                       11.0%
                                             ...................................
--------------------------------------------------------------------------------

12.  Type of Reporting Person (See Instructions)
--------------------------------------------------------------------------------
CO
.................................................................................

.................................................................................

.................................................................................

.................................................................................

.................................................................................

.................................................................................


                               Page 2 of 10 Pages


                                  SCHEDULE 13G
                                  ------------

ISSUER: Crown Media Holdings, Inc.                         CUSIP No.:  228411104
------                                                     ---------

PRELIMINARY NOTE: The information contained in this Schedule 13G has been
amended to reflect a typographical error in the name of the Reporting Person
which is an affiliate of J.P. Morgan Partners (SBIC), LLC.




ITEM 1.

         (a)      NAME OF ISSUER:
                  ---------------
                  Crown Media Holdings, Inc.

         (b)      ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
                  ------------------------------------------------
                  6430 S. Fiddlers Green Circle
                  Suite 500
                  Englewood, CO  80111
ITEM 2.

         (a)      NAME OF PERSON FILING:
                  ----------------------
                  J.P. Morgan Partners (BHCA), L.P.

                  Supplemental information relating to the ownership
                  and control of the person filing this statement is
                  included in Exhibit 2(a) attached hereto.

         (b)      ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
                  -----------------------------------------------------------
                  1221 Avenue of the Americas
                  New York, New York  10020

         (c)      CITIZENSHIP:
                  ------------
                  Delaware

         (d)      TITLE OF CLASS OF SECURITIES (OF ISSUER):
                  ----------------------------------------
                  Common Stock

         (e)      CUSIP NUMBER:
                  -------------
                  228411104

ITEM 3.           IF THIS  STATEMENT  IS FILED  PURSUANT
                  TO SS. SS. 240.13D-1(B) OR 240.
                  13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:

                  Not applicable.

ITEM 4.           OWNERSHIP

         (a)      AMOUNT BENEFICIALLY OWNED:
                  --------------------------
                  3,844,420 (includes Options for 7,800 shares)

         (b)      PERCENT OF CLASS:

                  11.0% (as of December 31, 2001)


                               Page 3 of 10 Pages



                                  SCHEDULE 13G
                                  ------------

ISSUER: Crown Media Holdings, Inc.                         CUSIP NO.:  228411104
------                                                     ---------



         (c)      NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
                  --------------------------------------------
                 (i)      3,844,420 (includes Options for 7,800 shares)
                 (ii)     Not applicable.
                 (iii)    3,844,420 (includes Options for 7,800 shares)
                 (iv)     Not applicable.

ITEM 5.           OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

                    Not applicable.

ITEM 6.           OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
                  PERSON

                    Not applicable.

ITEM 7.           IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
                  ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
                  COMPANY

                    Not applicable.

ITEM 8.           IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

                    Not applicable.

ITEM 9.           NOTICE OF DISSOLUTION OF GROUP

                    Not applicable.

ITEM 10.          CERTIFICATION

                    Not applicable



                               Page 4 of 10 Pages




                                  SCHEDULE 13G
                                  ------------

ISSUER: Crown Media Holdings, Inc.                         CUSIP NO.:  228411104
------                                                     ---------


                                    SIGNATURE

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




Date: February 26, 2002

                                   J.P. MORGAN PARTNERS (BHCA), L.P.



                                   By: JPMP Master Fund Manager, L.P., its
                                       general partner

                                   By: JPMP Capital Corp., its general partner


                                   By:  /s/ JEFFREY C. WALKER
                                       ----------------------------
                                       Name:    Jeffrey C. Walker
                                                Title:   President

                               Page 5 of 10 Pages


                                  SCHEDULE 13G
                                  ------------

ISSUER: Crown Media Holdings, Inc.                         CUSIP NO.:  228411104
------                                                     ---------

                                  EXHIBIT 2(A)
                                  -------------

     This  statement  is  being  filed  by J.P.  Morgan  Partners  (BHCA),  L.P.
(formerly  known  as  Chase  Equity   Associates,   L.P.),  a  Delaware  limited
partnership (hereinafter referred to as "JPMP (BHCA)"), whose principal business
office is located at 1221 Avenue of the Americas, New York, New York 10020. JPMP
(BHCA) is engaged in the venture  capital and  leveraged  buyout  business.  The
general partner of JPMP (BHCA) is JPMP Master Fund Manager, L.P. (formerly known
as Chase Capital Partners, a New York general  partnership),  a Delaware limited
partnership  (hereinafter  referred to as "JPMP Master  Fund",  whose  principal
business  office is located  at the same  address  as JPMP  (BHCA),  and is also
directly or indirectly  (through  affiliates) engaged in the venture capital and
leveraged  buyout  business.  The  general  partner of JPMP  Master Fund is JPMP
Capital  Corp.  (formerly  known  as  Chase  Capital  Corporation),  a New  York
corporation  (hereinafter referred to as "JPMP Capital Corp."),  whose principal
business  office is located  at the same  address  as JPMP  (BHCA),  and is also
engaged in the  venture  capital and  leveraged  buyout  business.  Set forth in
Schedule A hereto and incorporated  herein by reference are the names,  business
addresses,  principal  occupations and employments of each executive officer and
director of JPMP Capital Corp.

     JPMP Capital Corp. is a wholly owned  subsidiary of J.P. Morgan Chase & Co.
(formerly  known as The Chase  Manhattan  Corporation),  a Delaware  corporation
(hereinafter  referred  to as "JP Morgan  Chase")  which is  engaged  (primarily
through  subsidiaries)  in the  commercial  banking  business with its principal
office  located  at 270 Park  Avenue,  New York,  New York  10017.  Set forth in
Schedule B hereto and incorporated  herein by reference are the names,  business
addresses,  principal  occupations and employments of each executive officer and
director of JP Morgan Chase.



                               Page 6 of 10 Pages



                                  SCHEDULE 13G
                                  ------------

ISSUER: Crown Media Holdings, Inc.                         CUSIP NO.:  228411104
------                                                     ---------

                                                                      SCHEDULE A
                                                                      ----------

                               JPMP CAPITAL CORP.
                               ------------------

                              EXECUTIVE OFFICERS(1)
                              --------------------


                                                           
President                                                     Jeffrey C. Walker*
Executive Vice President                                      Mitchell J. Blutt, M.D.*
Executive Vice President                                      Arnold L. Chavkin*
Executive Vice President                                      John M.B. O'Connor*
Managing Director                                             Dr. Dana Beth Ardi*
Managing Director                                             John R. Baron*
Managing Director                                             Christopher C. Behrens*
Managing Director                                             David S. Britts*
Managing Director                                             Julie Casella-Esposito*
Managing Director                                             Jerome Colonna*
Managing Director                                             Rodney A. Ferguson*
Managing Director                                             David L. Ferguson*
Managing Director                                             David Gilbert*
Managing Director                                             Eric A. Green*
Managing Director                                             Michael R. Hannon*
Managing Director                                             Donald J. Hofmann, Jr. *
Managing Director                                             W. Brett Ingersoll*
Managing Director                                             Alfredo Irigoin*
Managing Director                                             Andrew Kahn*
Managing Director                                             Jonathan R. Lynch*
Managing Director                                             Thomas G. Mendell*
Managing Director                                             Stephen P. Murray*
Managing Director                                             Timothy Purcell*
Managing Director                                             Faith Rosenfeld*
Managing Director                                             Robert R. Ruggiero, Jr. *
Managing Director                                             Susan L. Segal*
Managing Director                                             Kelly Shackelford*
Managing Director                                             Shahan D. Soghikian*
Managing Director                                             Patrick J. Sullivan*
Managing Director                                             Timothy J. Walsh*
Managing Director                                             Richard D. Waters, Jr. *
Managing Director                                             Damion E. Wicker, M.D.*
Managing Director                                             Eric R. Wilkinson*
Senior Vice President                                         Marcia Bateson*
Senior Vice President and Assistant Secretary                 Mounir Nahas*
Senior Vice President and Assistant Secretary                 Stephen Skoczylas*
Senior Vice President, Treasurer and Assistant Secretary      Elisa R. Stein*
Vice President and Assistant Secretary                        Jeffrey Glatt*
Vice President and Assistant Secretary                        Puneet Gulati*
Vice President and Assistant Secretary                        Sandra King*
Vice President and Assistant Secretary                        Scott Kraemer*
Secretary                                                     Anthony J. Horan**
Assistant Secretary                                           Robert C. Caroll**
Assistant Secretary                                           Denise G. Connors**


--------

(1)  Each of whom is a United States citizen except for Messrs. Britts, Irigoin,
     and Soghikian.

*    Principal  occupation is employee and/or officer of J.P.  Morgan  Partners,
     LLC. Business address is c/o J.P. Morgan Partners,  LLC, 1221 Avenue of the
     Americas, New York, New York 10020.

**   Principal  occupation  is  employee or officer of J.P.  Morgan  Chase & Co.
     Business address is c/o J.P. Morgan Chase & Co., 270 Park Avenue, New York,
     New York 10017.

                               Page 7 of 10 Pages




                                  SCHEDULE 13G
                                  ------------

ISSUER: Crown Media Holdings, Inc.                         CUSIP NO.:  228411104
------                                                     ---------




                                  DIRECTORS(1)
                                  ------------
                              William B. Harrison**
                               Jeffrey C. Walker*








---------

(1)  Each of whom is a United States citizen except for Messrs. Britts, Irigoin,
     and Soghikian.

*    Principal  occupation is employee and/or officer of J.P.  Morgan  Partners,
     LLC. Business address is c/o J.P. Morgan Partners,  LLC, 1221 Avenue of the
     Americas, New York, New York 10020.

**   Principal  occupation  is  employee or officer of J.P.  Morgan  Chase & Co.
     Business address is c/o J.P. Morgan Chase & Co., 270 Park Avenue, New York,
     New York 10017.

                               Page 8 of 10 Pages



                                  SCHEDULE 13G
                                  ------------

ISSUER: Crown Media Holdings, Inc.                         CUSIP NO.:  228411104
------                                                     ---------


                                                                      SCHEDULE B
                                                                      ----------

                             J.P. MORGAN CHASE & CO.
                             ------------------------

                               EXECUTIVE OFFICERS(1)
                               ---------------------

                                                                           
Chairman of the Board and Chief Executive Officer                              William B. Harrison Jr.*
Vice Chairman; Co-Chief Executive Officer, Investment Bank                     Geoffrey T. Boisi *
Vice Chairman; Head of Retail and Middle Market, Financial                     David A. Coulter*
      Services and Management and Private Banking
Director of Human Resources                                                    John J. Farrell*
Vice Chairman; Chairman, Investment Bank                                       Walter A. Gubert*
Vice Chairman                                                                  Thomas B. Ketchum*
Director of Corporate Marketing and Communications                             Frederick W. Hill*
Vice Chairman; Co-Chief Executive Officer, Investment Bank                     Donald H. Layton*
Vice Chairman                                                                  James B. Lee Jr. *
General Counsel                                                                William H. McDavid*
Vice Chairman; Head of Finance, Risk Management and Administration             Marc J. Shapiro*
Vice Chairman                                                                  Jeffrey C. Walker**
Executive Vice President; General Auditor                                      William J. Moran*
Chief Financial Officer                                                        Dina Dublon*
Executive Vice President; Head of Market Risk Management                       Lesley Daniels Webster*
Managing Director; Corporate Treasurer                                         David B. Edelson*
Managing Director; Head of Credit Risk Policy                                  Suzanne Hammett*
Corporate Secretary                                                            Anthony James Horan*
Senior Vice President; Chief Compliance Officer                                Gregory S. Meredith*
Controller                                                                     Joseph L. Scalfani*
Assistant Corporate Secretary                                                  James C. Berry*




                                                        DIRECTORS(1)
                                                        ------------
                                             PRINCIPAL OCCUPATION OR EMPLOYMENT;
NAME                                         BUSINESS OR RESIDENCE ADDRESS
----                                         -----------------------------------
                                          
-----------------------------------------------------------------------------------------------------------
 Hans W. Becherer                              Retired Chairman of the Board and
                                              -------------------------------------------------------------
                                               Chief Executive Officer
                                               Deere & Company
                                               One John Deere Place
                                               Moline, IL 61265
-----------------------------------------------------------------------------------------------------------
 Riley P. Bechtel                              Chairman and Chief Executive Officer
                                               Bechtel Group, Inc.
                                               P.O. Box 193965
                                               San Francisco, CA 94119-3965
-----------------------------------------------------------------------------------------------------------
 Frank A. Bennack, Jr.                         President and Chief Executive Officer
                                               The Hearst Corporation
                                               959 Eighth Avenue
                                               New York, New York  10019
-----------------------------------------------------------------------------------------------------------


---------------------
(1)  Each of whom is a United States citizen.

*    Principal  occupation  is  employee or officer of J.P.  Morgan  Chase & Co.
     Business address is c/o J.P. Morgan Chase & Co., 270 Park Avenue, New York,
     New York 10017.

**   Principal  occupation is employee and/or officer of J.P.  Morgan  Partners,
     LLC. Business address is c/o J.P. Morgan Partners,  LLC, 1221 Avenue of the
     Americas, New York New York 10020.





                               Page 9 of 10 Pages




                                  SCHEDULE 13G
                                  ------------

ISSUER: Crown Media Holdings, Inc.                         CUSIP NO.:  228411104
------                                                     ---------


                                             PRINCIPAL OCCUPATION OR EMPLOYMENT;
NAME                                         BUSINESS OR RESIDENCE ADDRESS
----                                         -----------------------------------
                                          
-----------------------------------------------------------------------------------------------------------
 Lawrence A. Bossidy                          Chairman of the Board
                                              Honeywell International
                                              P.O. Box 3000
                                              Morristown, NJ 07962-2245
-----------------------------------------------------------------------------------------------------------
 M. Anthony Burns                             Chairman of the Board
                                              Ryder System, Inc.
                                              3600 N.W. 82nd Avenue
                                              Miami, Florida  33166
-----------------------------------------------------------------------------------------------------------
 H. Laurence Fuller                           Retired Co-Chairman
                                              BP Amoco p.l.c.
                                              1111 Warrenville Road, Suite 25
                                              Chicago, Illinois  60563
-----------------------------------------------------------------------------------------------------------
Ellen V. Futter                               President and Trustee
                                              American Museum of Natural History
                                              Central Park West at 79th Street
                                              New York, NY 10024
-----------------------------------------------------------------------------------------------------------
 William H. Gray, III                         President and Chief Executive Officer
                                              The College Fund/UNCF
                                              9860 Willow Oaks Corporate Drive
                                              P.O. Box 10444
                                              Fairfax, Virginia  22031
-----------------------------------------------------------------------------------------------------------
 William B. Harrison, Jr.                     Chairman of the Board and Chief Executive Officer
                                              J.P. Morgan Chase & Co.
                                              270 Park Avenue, 8th Floor
                                              New York, New York  10017-2070
-----------------------------------------------------------------------------------------------------------
 Helene L. Kaplan                             Of Counsel
                                              Skadden, Arps, Slate, Meagher & Flom LLP
                                              Four Times Square
                                              New York, New York  10036
-----------------------------------------------------------------------------------------------------------
 Lee R. Raymond                               Chairman of the Board and Chief Executive Officer
                                              Exxon Mobil Corporation
                                              5959 Las Colinas Boulevard
                                              Irving, TX 75039-2298
-----------------------------------------------------------------------------------------------------------
 John R. Stafford                             Chairman of the Board
                                              American Home Products Corporation
                                              5 Giralda Farms
                                              Madison, New Jersey  07940
-----------------------------------------------------------------------------------------------------------
 Lloyd D. Ward                                Chief Executive Officer
                                              U.S. Olympic Committee
                                              One Olympic Plaza
                                              Colorado Springs, CO  80909
-----------------------------------------------------------------------------------------------------------
 Marina v.N. Whitman                          Professor of Business Administration and Public Policy
                                              The University of Michigan
                                              School of Public Policy
                                              411 Lorch Hall, 611 Tappan Street
                                              Ann Arbor, MI 48109-1220
-----------------------------------------------------------------------------------------------------------




                              Page 10 of 10 Pages