TORONTO, Nov. 30, 2011 /CNW/ - Corus Entertainment Inc. (TSX: CJR.B) updates investors today on the Company's fiscal 2012
strategic priorities and provides near-term financial guidance for the
2012 fiscal year.
"Great and trusted brands, access to outstanding programming, coupled
with a strong, committed and stable employee base and leadership team,
gives us confidence we can continue our strong growth in fiscal 2012,"
said John Cassaday, President and Chief Executive Officer, Corus
"For fiscal 2012, we are targeting consolidated segment profit of $300
million to $310 million and free cash flow in excess of $125 million.
Innovative product offerings, such as ABC Spark and OWN, will attract
larger audiences and positively impact our advertising revenues," added
A meeting with analysts and investors will take place at 9 a.m. ET today to review 2012 strategic priorities. A live webcast of the
presentation along with the accompanying PowerPoint slides can be
accessed through the Company's website www.corusent.com in the Investor Relations section. The full audio presentation and
PowerPoint slides will also be archived on the Company's website under
Corus Entertainment Inc. reports in Canadian dollars.
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, television broadcasting,
children's book publishing and animation. The Company's multimedia
entertainment brands include YTV, Treehouse, Nickelodeon (Canada), W
Network, OWN: Oprah Winfrey Network (Canada), CosmoTV, Sundance Channel
(Canada), Movie Central, HBO Canada, Nelvana, Kids Can Press and radio
stations including CKNW AM 980, 99.3 The FOX, Country 105, 630 CHED,
Q107 and 102.1 the Edge. Corus creates engaging branded entertainment
experiences for its audiences across multiple platforms. A publicly
traded company, Corus is listed on the Toronto Stock Exchange (CJR.B).
Experience Corus on the web at www.corusent.com.
This press release contains forward-looking information and should be
read subject to the following cautionary language:
To the extent any statements made in this report contain information
that is not historical, these statements are forward-looking statements
and may be forward-looking information within the meaning of applicable
securities laws (collectively, "forward-looking statements"). These
forward-looking statements related to, among other things, our
objectives, goals, strategies, intentions, plans, estimates and
outlook, including advertising, distribution, merchandise and
subscription revenues, operating costs and tariffs, taxes and fees, and
can generally be identified by the use of the words such as "believe",
"anticipate", "expect", "intend", "plan", "will", "may" and other
similar expressions. In addition, any statements that refer to
expectations, projections or other characterizations of future events
or circumstances are forward-looking statements. Although Corus
believes that the expectations reflected in such forward-looking
statements are reasonable, such statements involve risks and
uncertainties and undue reliance should not be placed on such
statements. Certain material factors or assumptions are applied in
making forward-looking statements, including without limitation factors
and assumptions regarding advertising, distribution, merchandise and
subscription revenues, operating costs and tariffs, taxes and fees and
actual results may differ materially from those expressed or implied in
such statements. Important factors that could cause actual results to
differ materially from these expectations include, among other things:
our ability to attract and retain advertising revenues; audience
acceptance of our television programs and cable networks; our ability
to recoup production costs, the availability of tax credits and the
existence of co-production treaties; our ability to compete in any of
the industries in which we do business; the opportunities (or lack
thereof) that may be presented to and pursued by us; conditions in the
entertainment, information and communications industries and
technological developments therein; changes in laws or regulations or
the interpretation or application of those laws and regulations; our
ability to integrate and realize anticipated benefits from our
acquisitions and to effectively manage our growth; our ability to
successfully defend ourselves against litigation matters arising out of
the ordinary course of business; and changes in accounting standards.
Additional information about these factors and about the material
assumptions underlying such forward-looking statements may be found in
our Annual Information Form. Corus cautions that the foregoing list of
important factors that may affect future results is not exhaustive.
When relying on our forward-looking statements to make decisions with
respect to Corus, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events. Unless
otherwise required by applicable securities laws, we disclaim any
intention or obligation to publicly update or revise any
forward-looking statements whether as a result of new information,
events or circumstances that arise after the date thereof or otherwise.
SOURCE Corus Entertainment Inc.
For further information:
| John Cassaday || || || || Tom Peddie || || || || Sally Tindal |
| President and Chief Executive Officer || || || || Executive Vice President and Chief || || || || Director, Communications |
| Corus Entertainment Inc. || || || || Financial Officer || || || || Corus Entertainment Inc. |
| 416.479.6018 || || || || Corus Entertainment Inc. || || || || 416.479.6107 |
| || || || || 416.479.6080 |