Corus 4Q profit falls by 16%

TORONTO - Corus Entertainment reported a 16% drop in fourth-quarter profit to $23.3 million due to a one-time tax-related charge. Consolidated fiscal fourth quarter 2012 revenues fell 2% to $195.6 million, with consolidated segment profit up 8% to $60.9 million with television and radio "margins of 40% and 30%," respectively, for the fiscal year. Revenues in radio however were nearly stagnant at $47.8 million, while television fell nearly $5 million to $147.9 million compared to the previous year. “Corus finished the year with strong gains in specialty advertising revenues and segment profit for the fourth quarter. We are particularly pleased with...