Corus Ent. sees losses

Co. reported strong ad growth, but Nelvana bled red ink

MONTREAL — Canuck broadcaster and TV producer Corus Entertainment swung to a $37 million loss in the third quarter, compared with earnings of $9 million a year earlier, due to a writedown of C$85 million ($62 million) on film assets.

Main offender was toon production company Nelvana, which has bled red ink for years.

Despite Nelvana, Corus posted generally upbeat results for the third quarter and nine months ended May 31.

Toronto-based company reported strong ad growth for its specialty TV channels and strong growth in free cash flow.

Revenue for the third quarter was $119 million, up 6% from $113 million in the same quarter last year.

More Biz

  • Spotify logo is presented on a

    Spotify Launches Feature to Help Artists, Labels Submit Music to Playlists

    MONTREAL — Canuck broadcaster and TV producer Corus Entertainment swung to a $37 million loss in the third quarter, compared with earnings of $9 million a year earlier, due to a writedown of C$85 million ($62 million) on film assets. Main offender was toon production company Nelvana, which has bled red ink for years. Despite […]

  • Comcast Buying Fox Illustration

    Comcast Drops Out of Bidding War With Disney for 21st Century Fox Assets

    MONTREAL — Canuck broadcaster and TV producer Corus Entertainment swung to a $37 million loss in the third quarter, compared with earnings of $9 million a year earlier, due to a writedown of C$85 million ($62 million) on film assets. Main offender was toon production company Nelvana, which has bled red ink for years. Despite […]

  • The Bureau French TV Show

    French Firm Federation Steps Into the U.S. Market

    MONTREAL — Canuck broadcaster and TV producer Corus Entertainment swung to a $37 million loss in the third quarter, compared with earnings of $9 million a year earlier, due to a writedown of C$85 million ($62 million) on film assets. Main offender was toon production company Nelvana, which has bled red ink for years. Despite […]

  • iQiyi Nasdaq Stock Exchange

    Chinese Video Streamer iQIYI Buys Game Developer Skymoons

    MONTREAL — Canuck broadcaster and TV producer Corus Entertainment swung to a $37 million loss in the third quarter, compared with earnings of $9 million a year earlier, due to a writedown of C$85 million ($62 million) on film assets. Main offender was toon production company Nelvana, which has bled red ink for years. Despite […]

  • Brian Roberts Sun Valley Conference

    Merger Mania Dominates Talk at Sun Valley Moguls' Confab

    MONTREAL — Canuck broadcaster and TV producer Corus Entertainment swung to a $37 million loss in the third quarter, compared with earnings of $9 million a year earlier, due to a writedown of C$85 million ($62 million) on film assets. Main offender was toon production company Nelvana, which has bled red ink for years. Despite […]

  • Discovery Extends CEO David Zaslav's Contract

    Discovery Extends CEO David Zaslav's Contract Through 2023

    MONTREAL — Canuck broadcaster and TV producer Corus Entertainment swung to a $37 million loss in the third quarter, compared with earnings of $9 million a year earlier, due to a writedown of C$85 million ($62 million) on film assets. Main offender was toon production company Nelvana, which has bled red ink for years. Despite […]

More From Our Brands

Access exclusive content