Corus Q1 revenue stable, profit slips

TORONTO – Corus Entertainment saw its 2020 fiscal first quarter revenues come in at $467.8 million for the period ended November 20, 2019, essentially flat over the prior year’s first quarter. TV revenue rose 1% to $430 million while radio revenue declined 8% compared to Q1 2019 to $37.9 million. “Consolidated segment profit was $184.1 million, a decrease of 4% from $191.6 million last year,” notes the press release. Free cash flow, however, rose to $53 million, up from $42.4 million in the prior year’s first three months. “Our solid Q1 results demonstrate the benefits of Corus’ diverse portfolio of...