Profits plunge during “transformational year” at Corus

TORONTO – Fourth quarter profits tumbled at Corus Entertainment as the company continued to absorb its acquisition of Shaw Media.The company said Wednesday that net income attributable to shareholders for the quarter ended August 31, 2016 was $25,000, well below the $17.8 million posted in the same period last year, which includes business acquisition, integration and restructuring costs of $19.6 million. Adjusting for the impact of these items resulted in an adjusted net income attributable to shareholders of $14.5 million.Consolidated revenues for the quarter of $384.5 million increased 99% from $193.6 million year-over-year, reflecting the acquisition, while consolidated segment profit...