Double-digit drop in Q2 revenue at Corus

TORONTO – With double digit losses in both revenue and profits for its second quarter of 2013, Corus Entertainment described its financial results for this period as “soft.” The company reported a 10.7% decrease in total revenue for the quarter ended Feb. 28 of $183.7 million, down $205.7 million for the same period a year earlier. Revenue dropped in both radio and TV segments, with Corus executives attributing part of the 12% decrease in TV revenue in Q2 FY 2013 to decreased advertising from its childrens programming. “Virtually all of that was related to the entertainment space which just was...