Q1 revenues drop by 5% at Corus as TV sales drag down earnings

TORONTO - Corus Entertainment reports that first quarter revenue slipped to $226.1 million, down 5% from $236.9 million the previous year, as lower TV sales cut into earnings. Revenue at the company's television business, which brings in about 76% of total sales, fell 6% to $173.8 million from $185 million, while radio revenue increased to $52.3 million from about $51.9 million. Net income attributable to shareholders rose to $54.0 million or 62 Canadian cents per share, in the first quarter from $52.7 million, or 61 Canadian cents per share, a year earlier. "Corus has delivered a solid first quarter, achieving...