Radio, soft ad market, eat in to Q1 profits at Corus

TORONTO – Despite an increase in revenue led by its television segment, Corus Entertainment saw its first quarter profits tumble by $99 million over the same period last year.Consolidated revenues for the three months ended November 30, 2014 were $227.1 million, up slightly from $226.0 million last year, while consolidated segment profit increased 1% from $92.3 million to $93.3 million year-over-year.Net income attributable to shareholders for the quarter plunged to $51.9 million from $150.9 million last year, which included charges related to a non-cash gain of $127.9 million resulting from the re-measurement to fair value of the company’s 50% interest in Teletoon...