Corus Entertainment Provides Fiscal 2013 Guidance
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 www.corusent.com 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 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
SOURCE Corus Entertainment Inc.
President and CEO
Corus Entertainment Inc.
Executive Vice President and CFO
Corus Entertainment Inc.
Corus Entertainment Inc.
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