US EditionCorus Entertainment reports $6.1M Q2 loss, revenue down 15 per cent
Adjusted loss per share improved to 4 cents from 21 cents a year earlier, even as television and radio revenue both declined.
- On Friday, Corus Entertainment Inc. reported a loss of $6.1 million in its latest quarter as revenue fell 15% to $230.2 million compared with a year earlier.
- The broadcaster recorded a significant improvement from the same quarter last year, when it posted a $55.9 million loss or 28 cents per share.
- Television revenue dropped to $212.4 million from $251.8 million, while radio operations generated $17.7 million, down from $18.5 million.
- Last month, the Ontario Superior Court ordered the company to proceed with its recapitalization plan, though the transaction remains subject to stakeholder agreements and regulatory approvals.
- On an adjusted basis, Corus lost four cents per share in its latest quarter, a marked improvement from the 21-cent per share loss recorded a year earlier.
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12 Articles
The Toronto Star
Corus Entertainment awaits approval of recapitalization plan, reports $6.1M Q2 loss
TORONTO - Corus Entertainment Inc. said Friday it is still waiting for regulatory and stock exchange approvals to move forward with its recapitalization plan as it reported a loss in
Profitability rises despite revenue decline as Corus navigates advertising slump - The Wire Report
Corus Entertainment Inc. reported a significant jump in profit during this year’s second quarter, a win for the otherwise financially troubled broadcaster. This content is available to wirereport.ca subscribers Already a subscriber? Sign in here LOGIN Forgot password? Unlock all the Canadian telecom, broadcasting and digital media news you need. Take a free trial or … Continue reading "Profitability rises despite revenue decline as Corus naviga…
Corus Q2 revenue down 15 per cent amid sharp uptick in segment profit
Corus Entertainment has announced its second quarter financial results, reporting a disconnect between its top and bottom lines as aggressive cost-cutting and programming delays offset a double-digit slide in advertising and subscriber revenue. While consolidated revenue fell 15% to $230 million, Corus saw its segment profit skyrocket by 72% to $30 million, a result management attributed to a “disciplined approach” to right-sizing the company’s …
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