Ad sales help power Corus to "exceptional" Q3

TORONTO – Corus Entertainment is back in the black after posting third quarter profits of $31.4 million, the Toronto-based company reported Wednesday.Consolidated revenues for the three months ended May 31, 2010 were $218.4 million, a 12% increase from $195.4 million last year, while consolidated segment profit was $73.8 million, up 20% from $61.4 million last year.Net income for the quarter was $31.4 million, compared to a net loss of $145.0 million last year, though net income for 2009 included a $172.5 million after-tax broadcast license and goodwill impairment charge."This was an exceptional quarter for Corus, with advertising sales strong for...