Despite Q4 ad dip, Corus praises TV division for "excellent" 2011 results

TORONTO – While Corus Entertainment credited its television division for its solid fourth quarter and 2011 year end results released Wednesday, its specialty ad sales department took its lumps this summer. The media and entertainment company reported net income for the year ended August 31 of $146.3 million, up from $126.7 million last year. Consolidated revenues were $825.2 million, an 8% increase from $767.5 million in 2010, while consolidated segment profit jumped 12% to $285.4 million over $256.0 million last year. Corus said its television segment profit increased 14% for the year to $258.5 million. Specialty advertising revenues were up 11%, and...