Corus aims to pocket $300M in profits next year

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...