TV and radio broadcaster Corus Entertainment reports first quarter revenue up 10% year-on-year

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Corus Entertainment Inc. CJR-BT reported that its first quarter profit was down slightly from a year ago as revenue increased 10%.

The television and radio broadcaster says it made net income attributable to shareholders of nearly $76.2 million or 36 cents per diluted share for the quarter ended Nov. 30.

The result compares with earnings of nearly $76.7 million or 37 cents per diluted share in the same quarter a year ago.

Revenues totaled nearly $463.9 million, down from nearly $420.4 million in the same quarter a year earlier for the company behind Global Television, W Network, HGTV Canada, Food Network Canada and other services specialty television stations, radio stations and conventional television stations.

Corus chief executive Doug Murphy said television revenue in the quarter exceeded pre-pandemic levels, helped by the strength of Global TV’s fall schedule and strong advertising demand. .

TV revenue reached $434.7 million, from $392.1 million a year ago, while radio revenue reached $29.1 million, from nearly $28.3 million of dollars.

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