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- Iain Grant
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Corus CEO says Q3 was disappointing
(Via Cdn Biz.)
TORONTO – The CEO of Corus Entertainment (TSX:CJR.B) says the television and radio company had a disappointing third quarter but made progress towards future growth.
The Toronto-based company’s overall revenue for the three-month period was down nearly $11 million or five per cent from the same time last year, dropping to $203.1 million from $214.0 million in the the third quarter of 2014.
The Corus television business had $162 million of revenue from specialty cable channels such as YTV, Teletoon, and W Network, down nearly five per cent. Its radio business had $40.3 million of revenue, down about seven per cent.
A writedown of the value of its assets contributed to an $8.1 million net loss attributable to shareholders for the quarter ended May 31, or nine cents per share.
Excluding the $51.8 million writedown, worth 44 cents per share, and $2.7 million or two cents per share of other costs, Corus would have had a profit of $31.6 million or 36 cents per share.
A year earlier, Corus Entertainment’s net loss was $30.3 million or 36 cents per share and its adjusted profit was $41.6 million or 49 cents per share.
Corus chief executive Doug Murphy said the third quarter results were “disappointing” but the company is “confident that we are on the right track” to deepen its engagement with audiences.
“Over the next 18 months, our focus will be to fortify our brands and competitive position by leveraging our strategic investments in premium content across platforms and delivery systems,” Murphy said.
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Madness takes its toll. Please have exact change.
- Don
- Unregistered
Re: Corus CEO says Q3 was disappointing
So was Q107.
(I kid...can't resist wordplay)
- Old Codger
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Re: Corus CEO says Q3 was disappointing
“Over the next 18 months, our focus will be to fortify our brands and competitive position by leveraging our strategic investments in premium content across platforms and delivery systems,”
Doug!!! You sure your name ain't Dick? Flush that crap. FIX the programming. Spend some money. The product just doesn't cut it.
Or...like most companies who own lots of broadcast outlets yet don't have a friggin' clue what to do with them outside of 'the business thing'...sell them or if you must stay in the game...hire REAL broadcasters to run 'em. All you're doing now is running them into the ground and making radio [and soon TV] obsolete.
Nobody feels any sense of loyalty to an inferior product. THAT'S your problem
- RadioActive
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Re: Corus CEO says Q3 was disappointing
I'm somewhat amazed at their so-called lack of profits, if AM640 staffing is any judge. Because they're clearly not paying very many people to run the thing.
On Wednesday, they were so bereft of personnel to host their shows that they put Ryan Bonner and Chris Creston - two producers - on the air at 1 PM. Nothing wrong with that, I suppose - they've done it before. But they were on until 7 at night - a six hour show! The duo tried their best, but they really aren't up to the standards of a Bill Carroll in drivetime. That's a long shift but manageable if you're playing music. If you're doing non-stop talk and don't have a lot of help to get it on the air, it's almost against the Geneva Convention.
It seems incredible to me that a station in the #1 market in Canada and one of the biggest in North America would let its ranks get so thin that they were forced to have two producers work such a marathon on-air shift. Nothing against the pair, but it looks really bad on Corus and on AM 640. You can't run this format without honest-to-goodness experienced back-up. But no Honickman, no Dominik Diamond (who was subbing on Corus's Q107 at the time) and not even an emergency fill-in from Tina T., who at least has a fair bit of talk show experience.
And why would you let two talk shows hosts book off time in the same week? I'm not sure if there was an emergency with Jeff McArthur, but if you have a floater on standby, you generally don't have to make your subs work six hours in a row.
I know it's summer and the ratings aren't as critical, but how does a Toronto radio station have so few people to run such a labour intensive format? It's been like this for a long time and it's just one reason why AM640 has never been able to beat Newstalk 1010. Too often, there's nobody there when something big is going on. And today, at least, even when there wasn't.
Last edited by RadioActive (July 15, 2015 10:25 pm)
- geo
- Unregistered
Re: Corus CEO says Q3 was disappointing
Wednesdays haven't been worth getting out of bed for since the ECONOCLASH panel (Eves, Hargrove + Swift) was dropped. [Is now Thurs & still haven't gotten out of the sack]