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Corus posts higher Q3 revenue and earnings

Specialty TV ad growth helped lift Corus Entertainment, owner of kidcasters YTV and Treehouse, to higher third quarter earnings. And its Kids TV division also saw a boost in revenues and profits.
July 14, 2011

Specialty TV ad growth helped lift Corus Entertainment, owner of kidcasters YTV and Treehouse, to higher third quarter earnings. And its Kids TV division also saw a boost in revenues and profits.

The Toronto, Canada-based media conglomerate posted profits of US$39.2 million for the three months to May 31, against earnings of US$28.3 million in the same quarter of 2010. The Kids TV segment generated revenues of US$65.9 million for the period, up from US$57.4 million over the same quarter last year. For the nine-month period ended May 31, Kids TV revenues rang in at US$208.8 million, up from $182 million in 2010. Kids TV profits, meanwhile, rose to US$28 million in Q3 from US$23.2 million last year.

Overall TV revenue rose sharply to US$161 million, against a year-earlier US$147 million, offsetting a slight fall in radio revenue to US$50.7 million, compared to US$51.3 million in 2010.

The continuing TV ad industry recovery benefited Corus, with air-time sales of US$104.4 million during the latest quarter, against US$99.7 million in 2010.

And subscriber fees also rose to US$76.1 million during the third quarter, against a year-earlier US$72.3 million.

From Playback Daily.

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