TORONTO, July 14 /CNW/ - Corus Entertainment Inc. (TSX:CJR.B; NYSE:CJR)
announced today that the Company has reached an agreement to purchase the
specialty television services Drive-In Classics and SexTV from CTVglobemedia.
The transaction is subject to approval by the Canadian Radio-television and
Telecommunications Commission (CRTC). The combined acquisition price for both
services is $40 million Cdn.
"These services are currently available in over two million households
and provide a great base to grow their audiences and increase their appeal to
our advertising customers," said John Cassaday, President and CEO, Corus
Entertainment.
About Corus Entertainment Inc.
Corus Entertainment Inc. is a Canadian-based media and entertainment
company. Corus is a market leader in specialty television and radio with
additional assets in pay television, advertising services, television
broadcasting, children's book publishing and children's animation. The
company's multimedia entertainment brands include YTV, Treehouse, W Network,
CosmoTV, VIVA, Movie Central, HBO Canada, Nelvana, Kids Can Press and radio
stations including CKNW, CKOI and Q107. Corus creates engaging branded
entertainment experiences for its audiences across multiple platforms. A
publicly traded company, Corus is listed on the Toronto (CJR.B) and New York
(CJR) exchanges. Experience Corus on the web at www.corusent.com.
For further information: Tracy Ewing, Vice President, Communications,
Corus Entertainment Inc., (416) 642-3792
