Radio Expenses, Music Fees Cut Corus Profits

CORUS ENTERTAINMENT fourth fiscal quarter profits fell from C$14 million to C$9.7 million (22 cents/share) despite overall revenue rising 8% to C$175.3 million. Radio sales also rose 12% to C$65.3 million, but increases costs attributed to the integration of the QUEBEC radio stations obtained in a swap with ASTRAL MEDIA and higher music licensing fees led to flat radio profits and the overall drop in earnings.

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