Corus Entertainment Provides Fiscal 2013 Guidance

              Corus Entertainment Provides Fiscal 2013 Guidance

PR Newswire

TORONTO, Nov. 29, 2012

TORONTO, Nov. 29,  2012 /PRNewswire/  - Today Corus  Entertainment Inc.  (TSX: 
CJR.B) will present the Company's fiscal 2013 strategic priorities and provide
near-term financial guidance for the 2013 fiscal year.

"Our powerful brands and  continued focus on  operational excellence and  cost 
control gives us confidence  that we can continue  to drive strong  Television 
and Radio margins  in fiscal 2013,"  said John Cassaday,  President and  Chief 
Executive Officer, Corus Entertainment.

"For fiscal 2013, we are targeting consolidated segment profit of $293 million
to $303  million and  free  cash flow  in excess  of  $140 million.  We  will 
continue to build our  newer television service offerings,  such as ABC  Spark 
and Oprah Winfrey Network, introduce new and innovative products, maintain our
focus on  generating  sustainable  free  cash flow  and  return  cash  to  our 
shareholders," added Cassaday.

A presentation to analysts and investors will  take place at 9 a.m. ET  today. 
The live webcast of this  presentation along with the accompanying  PowerPoint 
slides can be accessed through  the Company's website in  the 
Investor Relations  section.  The  full webcast  presentation  and  PowerPoint 
slides will  also  be  archived  on  the  Company's  website  under  "Investor 

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,
children's  animation  and  animation  software.  The  Company's   multimedia 
entertainment brands include YTV, Treehouse, Nickelodeon (Canada), ABC  Spark, 
W Network,  OWN: Oprah  Winfrey Network  (Canada), CosmoTV,  Sundance  Channel 
(Canada), Movie Central, HBO  Canada, Nelvana, Kids Can  Press, Toon Boom  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

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.


John Cassaday
President and CEO
Corus Entertainment Inc.

Tom Peddie
Executive Vice President and CFO 
Corus Entertainment Inc.

Sally Tindal
Director, Communications
Corus Entertainment Inc.
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