CHUM posts strong Q1; CEO has HD doubts

TORONTO – CHUM Ltd. posted gains across the board in the first quarter of fiscal 2006, ended November 30, 2005. Revenue climbed 16% to $186.7 million, as compared to the first quarter of fiscal ’05, EBITDA rose 13% to $48.7 million and cash flow from operations went up by 10%, hitting $30.9 million. CHUM operates broadcasters Citytv and A Channel, specialties like MuchMusic, Bravo!, Space and Razer, and 33 radio stations. Revenue from the TV side of the business was $146.3 million in the quarter, a 20.3% increase, thanks to good performance from the company’s specialty channels and the effect...