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TORONTO — Global Television parent Corus Entertainment Inc. reported a loss in its most recent quarter, with revenue down 5 percent, compared with a profit a year ago.
The TV and radio company said its loss attributable to shareholders was $15.5 million, or 8 cents per diluted share, in the quarter ended Feb. 28, compared with a profit of $16.2 million, or 8 cents per diluted share, a year earlier. .
The company’s total revenue for the second quarter was $343.9 million, down from $361.7 million a year earlier.
Corus Chief Executive Doug Murphy said the results reflected the impact of current global advertising market conditions on advertising revenue, partially offset by significant growth in its own content business.
The company said its overall TV revenue totaled $321.5 million, down from $339.7 million a year ago, as the advertising segment fell to $169.1 million from $184.7 million and subscriber revenue slipped to $124.1 million from $132.8 million. Distribution, production and other income from its television business rose to $28.4 million from $22.1 million.
Radio revenue totaled $22.3 million, up from $22 million a year earlier.
The Canadian Press report was first published on April 13, 2023.
The company in the story: (TSX:CJR.B)
canadian media
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