Hi, Pat: I am retired, hence primarily an income investor. Immediately following the CRTC’s recent decision, shares of Corus Entertainment dropped. How do you see the company’s longer-term prospects? Is it worth continuing to hold? Thanks.
Corus Entertainment, $17.73, symbol CJR.B on Toronto (Shares outstanding: 86.5 million; Market cap: $1.5 billion; www.corusent.com), operates specialty and pay TV channels, radio stations and subsidiaries in children’s book publishing and animation.
Corus’s brands include YTV, Teletoon, ABC Spark, W Network, the Oprah Winfrey Network (Canada), HBO Canada, Historia and Séries+, as well as Nelvana (children’s animation), Kids Can Press, Toon Boom (animation software) and 39 radio stations, including CKNW AM 980, Rock 101, Country 105 and Q107.
In its fiscal 2015 second quarter, which ended February 28, 2015, Corus’s revenue rose 2.0%, to $155.2 million from $152.1 million a year earlier. Excluding one-time items, earnings per share gained 3.1%, to $0.33 from $0.32.
Corus’s shares fell sharply in March 2015, when the Canadian Radio-television and Telecommunications Commission (CRTC) put forward major changes to Canada’s television industry. Under the proposals, consumers will be able to get basic TV packages for a maximum $25 monthly fee. They’ll also gain the ability to…
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