Corus feels pandemic pain, but StackTV tops 200,000 subscribers
TORONTO — Corus Entertainment unsurprisingly reported a pretty rough third fiscal quarter, thanks to the Covid-19 crisis. While consolidated revenues and segment profit declined 24% and 35%, respectively, compared to last year’s Q3, the company also saw a 31% drop in TV ads and radio ad revenue dropped 52% for the three month period ended May 31. The company also reported a $752.3-million net loss for the first quarter in which the company felt the full impact of the Covid-19 crisis. That loss includes non-cash impairment charges related to broadcast licences and goodwill write-down of $786.8 million, says the news...
