Corus returns to profit

Corus Entertainment Inc. posted a $31.4-million profit for its fiscal third quarter, as the broadcaster's revenues increased 12 per cent over last year with the Canadian economy's recovery from recession. The Toronto company reported Wednesday its profit was the equivalent of 39 cents per share and contrasted with a year-earlier loss of $145-million or $1.81 per share. The year-earlier loss included a $172.5-million charge to reflect the impaired value of its broadcast licences and goodwill assets.
Corus is a market leader in specialty television and radio with additional operations in pay television, television broadcasting, children's book publishing and children's animation.