The Corus logo at Corus Quay in Toronto is shown on Friday, June 22, 2018. Corus Entertainment Inc. reported its first-quarter profit fell compared with a year ago as its revenue edged higher, boosted by gains in television advertising.
As revenue slumps from a "challenging advertising environment," Canadian media company Corus Entertainment Inc. — which houses brands like Global News and YTV — is "aggressively" cutting costs, continuing layoffs and shutting down parts of its business.Corus Entertainment reported on Monday that its third-quarter revenue fell by more than $65 million compared with the same period last year.
Corus reported $331.8 million in revenue from March to May, a decrease of more than $65 million from the same period last year. At the time, Metroland said the reason for the decision was unsustainable financial losses due to changing advertiser and consumer preferences.Bell Media planning cuts to CTV, BNN Bloomberg following BCE layoffs, sale of 45 radio stations
He said small markets are "where the focus of our restructuring efforts have been and will continue to be."
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