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Corus raises Q1 earnings, despite overall revenue fall

Despite reduced overall revenue on lower TV advertising sales, Canadian indie broadcaster Corus Entertainment, which owns YTV and Treehouse, posted higher first-quarter earnings.
January 16, 2013

Despite reduced overall revenue on lower TV advertising sales, Canadian indie broadcaster Corus Entertainment, which owns YTV and Treehouse, posted higher first-quarter earnings.

Toronto-based Corus saw Q1 earnings rise to US$54 million during the three months to Nov. 30, 2012, against a profit of US$52.7 million in 2011.

That profit jump came despite overall revenue US$226.1 million falling 5% from a year-earlier US$236.9 million.

TV revenue fell 6% to US$173.8 million, against a year-earlier US$185 million, as a 1% rise in subscriber revenues was offset by a 3% fall in specialty ad revenue and a 25% decline in merchandising, distribution and other revenue.

Radio revenue was up 1% to US$52.3 million, as strong radio station ratings and economic conditions in western Canada offset “softness” in Manitoba and Ontario, according to Corus.

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