TORONTO – Fiscal 2012 should be a profitable one due in part due to the success of new channels such as ABC Spark and OWN: Oprah Winfrey Network in Canada, Corus Entertainment said Wednesday.
At a meeting with with analysts and investors, president and CEO John Cassaday said that the company is targeting consolidated segment profit in the range of $300 million to $310 million, and free cash flow in excess of $125 million.
"Great and trusted brands, access to outstanding programming, coupled with a strong, committed and stable employee base and leadership team, gives us confidence we can continue our strong growth in fiscal 2012," he said in a statement.
The Toronto-based media and entertainment company holds a number of specialty television and radio stations, pay television service Movie Central, plus children's book publishing and animation assets.
