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Corus Entertainment Announces Offering of Cdn $550 Million of 4.25% Senior Unsecured Guaranteed Notes Due 2020


Corus Entertainment Announces Offering of Cdn $550 Million of 4.25% Senior Unsecured Guaranteed Notes Due 2020

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Feb. 6, 2013 /CNW/ - Corus Entertainment Inc. ("Corus") (TSX: CJR.B) announced today that it has agreed to sell Cdn $550 million principal amount of 4.25% senior unsecured guaranteed notes due 2020 (the "Notes") to a syndicate of underwriters for public offering in Canada. The offering of Notes is expected to close on February 11, 2013. The net proceeds from the offering of Notes will be used to redeem Corus' $500 million of 7.25% senior unsecured guaranteed notes due 2017 (principal amount Cdn $500 million) and for general corporate purposes.

The Notes will be publicly offered in each of the provinces of Canada pursuant to a prospectus supplement (the "Supplement") to Corus' previously filed short form base shelf prospectus dated February 4, 2013 (the "Prospectus"). The underwriting syndicate for the offering of Notes consists of TD Securities Inc. and BMO Nesbitt Burns Inc., as joint bookrunners, and includes RBC Dominion Securities Inc., Scotia Capital Inc., CIBC World Markets Inc. and National Bank Financial Inc. The Prospectus is, and the Supplement will be, available on request from the contacts listed below or on the Internet at www.sedar.com.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. This news release is not an offer for sale within the United States of any Notes or other securities of Corus. Securities of Corus, including Notes, may not be offered or sold in the United States absent registration under the U.S. securities laws or exemption from registration under such laws. Any public offering of securities that may be made in the United States will be made by means of a prospectus that may be obtained from Corus and that will contain detailed information about Corus, as well as financial statements.

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 37 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.

Forward-Looking Information

Certain statements contained in this news release relating to the use of proceeds of the offering of Notes may constitute forward-looking statements which assume closing of the offering of the Notes.  Although we believe that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct.

John Cassaday  President and Chief Executive Officer  Corus Entertainment Inc.  416.479.6018 Tom Peddie Executive Vice President and Chief Financial Officer  Corus Entertainment Inc.  416.479.6080 Sally Tindal Director, Communications Corus Entertainment Inc. 416.479.6107

SOURCE: Corus Entertainment Inc.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2013/06/c3763.html

CO: Corus Entertainment Inc. ST: Ontario NI: ENT TVNEWS NEWSTK

-0- Feb/06/2013 22:54 GMT

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