Corus Entertainment (CJR.B) has reported a fiscal fourth-quarter loss of $367.1 million due to a
one-time impairment charge related to its television business.
The Toronto-based television and radio producer said the impairment charge totaled $350
million.
In announcing its fiscal Q4 results, Corus said its finances were negatively impacted by an
uncertain economic environment and declining advertising revenue.
The company’s loss amounted to $1.82 per share for the quarter ended August 31 compared
with a profit of $0.10 a share in the same quarter of 2021.
Revenue for Corus’ latest quarter amounted to $339.6 million, down from $361.3 million in the
same quarter a year ago.
Corus’ stock is down 54% this year at $2.23 per share.
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