Corus continues to see Covid-19 impact, but ad revenue improves

TORONTO — Corus Entertainment’s first quarter of fiscal 2021 saw the company’s consolidated revenues decline 10% compared to the same quarter of 2020, but its television advertising revenues improved sequentially over the previous two quarters, according to its financial results released this morning. For the three months ended November 30, 2020, Corus’ consolidated revenues decreased to $420.4 million, from $467.9 million in Q1 2020, and the company’s consolidated segment profit was $178.6 million in the first quarter of 2021, a decrease of 3% from $184.1 million last year. The company’s television revenues decreased 9% to $392.1 million in the first...