Corus' Q1 “below expectations” as TV ad market stalls

TORONTO – A weak TV advertising market weighed down first quarter results at Corus Entertainment.The company said Wednesday that net income attributable to shareholders for the quarter ended November 30, 2017 was $77.7 million, up from $71.1 million in the same period last year, which includes business acquisition, integration and restructuring costs of $1.6 million. Adjusting for the impact of this item resulted in an adjusted net income attributable to shareholders of $78.9 million this quarter.Consolidated revenues for the quarter were $457.4 million, down 2% from $468.0 million last year, and consolidated segment profit was $177.9 million, down 7% from...