Corus holds steady in fiscal 2009

TORONTO – Despite a slight decline in radio revenue, Corus Entertainment’s consolidated revenues and segment profit were flat for the fiscal year ended August 31, 2009.Consolidated revenues were $788.7 million, up slightly from $787.2 million last year, while consolidated segment profit was $251.2 million, essentially unchanged from $252.1 million last year.The company did record a net loss for the year of $56.6 million, compared to net income of $129.8 million last year, which included a $175 million broadcast license and goodwill impairment charge recorded in the third quarter.Radio revenues decreased by 10% for the year, while segment profit dropped by 20%....