Corus Revenues, Profits Slide For Fiscal Fourth Quarter

Q4 Soft

CORUS ENTERTAINMENT overall fiscal fourth-quarter revenues fell 1% to C$193.6 million, with radio off 8% to C$44.012 million.   Net income attributable to shareholders fell 49% to C$11.9 million (C14 cents/basic and diluted share from 4 per share basic and diluted).

"Fiscal 2013 was a challenging year, but we made progress on a number of fronts, creating the foundation for strong growth moving forward," said Pres./CEO JOHN CASSADAY. "We were pleased to see an increase in specialty advertising revenue across all of our core Television networks, ongoing ratings momentum, and continued gains in our Pay television business. These gains were offset by a decline in the fourth quarter in our Radio division and higher corporate costs. Our outlook for 2014 is positive and the fundamentals are in place for a strong year ahead. The recent reorganization of our leadership team will support our growth objectives and we are excited about the significant value that our pending acquisitions will bring to the business."

The company declared monthly dividends of $0.084583 per Class A Share and $0.085 per Class B Share, payable on NOVEMBER 29th, DECEMBER 30th, and JANUARY 31th to shareholders of record at the close of business on NOVEMBER 15th, DECEMBER 13th and JANUARY 15th, respectively.

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