Newspaper article The Canadian Press

Corus Entertainment Reports Fourth-Quarter Profit Up from Year Ago

Newspaper article The Canadian Press

Corus Entertainment Reports Fourth-Quarter Profit Up from Year Ago

Article excerpt

Corus reports Q4 profit up from year ago

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TORONTO - Corus Entertainment Inc. (TSX:CJR.B) reported Wednesday its fourth-quarter profit was up from a year ago as revenue ticked lower.

The media company said its profit attributable to shareholders totalled $28.9 million or 14 cents per diluted share for the three months ended Aug. 31.

That compared with a profit of $25,000 or zero cents per share in the same period a year earlier.

On an adjusted basis, Corus said it earned $43.9 million or 22 cents per share in its latest quarter, up from an adjusted profit of $14.5 million or seven cents per share a year ago.

Revenue totalled $381.2 million, down from nearly $384.5 million a year ago.

On Tuesday, Corus announced a deal to sell French-language specialty channels Historia and Series+ to Bell Media for $200 million. …

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