Revenues, profits fall in "challenging year" at Corus

TORONTO – Results in Corus’ radio division pulled down revenues and profits for its fourth quarter and fiscal 2013, the company reported Thursday. Consolidated revenues for the year ended August 31, 2013 fell 5% to $803.5 million from $842.3 million last year. Consolidated segment profit was $270.0 million, down 7% from $290.0 million last year. Net income attributable to shareholders for the year was $159.9 million, up 8% compared to $148.7 million last year. The company noted that net income attributable to shareholders for the current fiscal year includes a charge for debt refinancing of $25.0 million, the gain related to the...